In court

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Blade58 said:
It's only my opinion, but anyone wanting the Prince taking over our club needs their bumps feeling

McCabe is far from perfect, but I don't trust the Prince to run our club as it's meant to be run

The underhanded moving of shares doesn't sit well with me at all. What else is he capable of doing?
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Exactly my feelings reading this last night. Especially your last paragraph
 



Seems both parties are guilty of dodgy actions tbh.

Thing is with McCabe why even bring the prince in if he wasnt sure about him. Give a stranger fifty percent control of our fine club and all for what? 20 million quid. Another in a long line of terrible decisions by McCabe im afraid
 
Mojo said:
Seems both parties are guilty of dodgy actions tbh.

Thing is with McCabe why even bring the prince in if he wasnt sure about him. Give a stranger fifty percent control of our fine club and all for what? 20 million quid. Another in a long line of terrible decisions by McCabe im afraid
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Was it more terrible than McCabe not bringing more money in and slowly but surely running out of his own money to fund the club and having to sell players to break even?
Or saying " Give us £30m and do what the fuck you want with everything"?
 
I remember when McCabe split the Academy and Bramall lane away from the football club and I said I was worried we could end up like Coventry or Rotherham you know homeless, oh how I was derided from all sides, I'm not sure certain posters are laughing as much now.
 
metalblade said:
I remember when McCabe split the Academy and Bramall lane away from the football club and I said I was worried we could end up like Coventry or Rotherham you know homeless, oh how I was derided from all sides, I'm not sure certain posters are laughing as much now.
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To avoid someone buying a 'broke' football club for a £1 and getting all the estate with it as a freebie.
This way was supposed to mean that any new owner would have to at least pay an independently valued price for the buildings.
 
metalblade said:
I remember when McCabe split the Academy and Bramall lane away from the football club and I said I was worried we could end up like Coventry or Rotherham you know homeless, oh how I was derided from all sides, I'm not sure certain posters are laughing as much now.
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Well we aren’t like either of those two are we?

It’s a fallacy that it makes a difference. As has been explained before, but doesn’t suit to accept, McCabe owned and controlled the property assets then, just the same as he does now, by virtue of his shareholding in the Scarborough Group of Companies. BL etc is owned by the same person now as it was when KMc First bought the club.
 
Harrisblade said:
To avoid someone buying a 'broke' football club for a £1 and getting all the estate with it as a freebie.
This way was supposed to mean that any new owner would have to at least pay an independently valued price for the buildings.
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One minute McCabe is a fool for getting involved with the Prince, now he should have left the assets in the club and possibly left us in limbo.

Distinct lack of joined up thinking by some on here.
 



guancheblade said:
We'r not going to receive any benefit from Maguire moving on anywhere. His sell on clause got used when he moved to Leicester.
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We get x% of whatever Hull make from the transfer.

If he leaves Leicester for 50m and Hull are due say 20% of the profit. He went for 16.5 I think, so 33.5m profit = 6.7m. United were due say 20% of the profit on Maguire. So 20% of 16.5 - 2.5 = 2.8m. if Hull then her a further 6.7m, then United are due an additional.1.34m.
 
Mojo said:
Seems both parties are guilty of dodgy actions tbh.

Thing is with McCabe why even bring the prince in if he wasnt sure about him. Give a stranger fifty percent control of our fine club and all for what? 20 million quid. Another in a long line of terrible decisions by McCabe im afraid
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What dodgy dealings has McCabe done?

Based on current market rates, the whole club is unlikely to be worth any more than £50m and less than that as a L1 club.
 
BushBlade said:
What dodgy dealings has McCabe done?

Based on current market rates, the whole club is unlikely to be worth any more than £50m and less than that as a L1 club.
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If my understanding is correct, he made a lowball offer of 5 million to buy out the prince, knowing that the prince didn't have the money to or wasn't willing to buy all the assets, so would be forced to accept the 5 million.
 
Mojo said:
If my understanding is correct, he made a lowball offer of 5 million to buy out the prince, knowing that the prince didn't have the money to or wasn't willing to buy all the assets, so would be forced to accept the 5 million.
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So basically Mcabe tried to pull a fast one and found out that someone smarter than him had pulled an even faster one?
 
Harrisblade said:
Was it more terrible than McCabe not bringing more money in and slowly but surely running out of his own money to fund the club and having to sell players to break even?
Or saying " Give us £30m and do what the fuck you want with everything"?
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That I don't know but the current situation is just as bad if not worse. If it wasn't for Wilder we would be absolutely screwed.
 
Mojo said:
If my understanding is correct, he made a lowball offer of 5 million to buy out the prince, knowing that the prince didn't have the money to or wasn't willing to buy all the assets, so would be forced to accept the 5 million.
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That was the deal they agreed to. The ‘lowball offer’ meant the Prince could buy the club at a low price making the ground etc more affordable. If the Prince has actually run out of money or never had it, why does he want to take on a loss making club?

I’m still not clear on what his end game is. If he wins and we don’t go up, the team needs a few signings. That’s going to cost money, even with Wilder. Does he want the club? Does he want KM to buy him out for more? Sell him the ground on the cheap?
 
Mojo said:
That I don't know but the current situation is just as bad if not worse. If it wasn't for Wilder we would be absolutely screwed.
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No it isn't.
We're in a half-way house at moment awaiting the decision of the court.
A combination of the 2 owners and CW/AK have got us to a place we couldn't have imagined 4 seasons ago.
It may still go wrong, but we're still better off than we were because of the way they've all worked together (despite the f***ing difficulties!)
 
Mojo said:
If my understanding is correct, he made a lowball offer of 5 million to buy out the prince, knowing that the prince didn't have the money to or wasn't willing to buy all the assets, so would be forced to accept the 5 million.
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McCabe triggered a clause that was in a contract agreed to and signed by the Prince, there's nothing underhand about that. The 5 million plus the value of the assets that the Prince would be required to buy is probably not unreasonable for the size of club and its position at the time. McCabe couldn't have known that the Prince couldn't raise the money and I think it was more an attempt to force him to buy him out - McCabe has said for a long time that he wanted out and I think his expectation was that the Prince was going to trigger the clause a long time ago. The contract is cleverly designed so that one party can't under or over value the other's share.
The error is having two separate parts with two different values linked to the purchase, which the Prince has tried to get around. We'll see how it turns out, but I think the court will rule that either the offer is void because of what the Prince has done, or that it is still in force in full despite what the Prince has done and I tend to the former. What that then means for the ownership and how one can buy the other out, I don't know. I don't think the court will rule that the offer is valid but the Prince doesn't have to buy the assets.
 
BushBlade said:
That was the deal they agreed to. The ‘lowball offer’ meant the Prince could buy the club at a low price making the ground etc more affordable. If the Prince has actually run out of money or never had it, why does he want to take on a loss making club?

I’m still not clear on what his end game is. If he wins and we don’t go up, the team needs a few signings. That’s going to cost money, even with Wilder. Does he want the club? Does he want KM to buy him out for more? Sell him the ground on the cheap?
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Presumably buying us at a knock-down price would have some advantages if he wanted to simply sell us on at a more normal value?
 
BushBlade said:
That was the deal they agreed to. The ‘lowball offer’ meant the Prince could buy the club at a low price making the ground etc more affordable. If the Prince has actually run out of money or never had it, why does he want to take on a loss making club?

I’m still not clear on what his end game is. If he wins and we don’t go up, the team needs a few signings. That’s going to cost money, even with Wilder. Does he want the club? Does he want KM to buy him out for more? Sell him the ground on the cheap?
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It won’t happen for various reasons, but I’d like to hear from JimPhipps on what he thinks the Prince’s intentions are. He’ll know better than most.

We know HRH ultimately wants to make a profit, but is this legal situation a chance for him to get out ASAP, a chance for him to maximise his share of the loot should we get promoted, or a sign he wants to take control in order to drive the club forward in his own way?

Chuff knows.
 
JohnDenver said:
It won’t happen for various reasons, but I’d like to hear from JimPhipps on what he thinks the Prince’s intentions are. He’ll know better than most.

We know HRH ultimately wants to make a profit, but is this legal situation a chance for him to get out ASAP, a chance for him to maximise his share of the loot should we get promoted, or a sign he wants to take control in order to drive the club forward in his own way?

Chuff knows.
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If he accepted McCabes offer he loses over £10m on share value AND has to buy the ground.

Promotion wiould no doubt change both sides strategies
 
Mojo said:
If my understanding is correct, he made a lowball offer of 5 million to buy out the prince, knowing that the prince didn't have the money to or wasn't willing to buy all the assets, so would be forced to accept the 5 million.
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A "lowball offer" that committed him to sell at the same price if the Prince rejected the offer?

That's the daftest suggestion I've heard in a long time, and I've seen some daft ones on here.
 
If we don’t get promoted I can see the Prince leaving, if we get promoted both will fight to get control of the club.
 



I do not think that the prospect of either of them taking us forward, appeals to either of them and can only assume that both have people lined up to sell us on to.
It would benefit both of them and the club if they were to swallow their pride and negotiate a deal which suits both of them by negotiating to sell to one of their prospective buyers.
 
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