Ferencvaros deal gone thru today??

[Foxy]

Taken from the Khaleej Times Online...

BUDAPEST - Sheffield United Chairman Kevin McCabe’s Hungarian company has succeeded with its latest bid to buy Hungary’s most famous club Ferencvaros, Hungary’s National Asset Management Company (MNV) said on Wednesday.


Esplanade Real Estate, which represents Sheffield United FC and the Scarborough Property Group, had previously vowed not to bid again for the club after previous efforts failed. However, it has now finally succeeded in winning the right to purchase the club.

The deal is expected to be worth around 8 billion forints (31.34 million dollars) in total. Esplanade must pay 800 million forints for shares in the football club and spend 2 billion forints on renewing the stadium within the next two years.

Ferencvaros, affectionately knows as Fradi, is Hungary’s most successful club with 28 league titles to its name and some success in Europe, but it has fallen on hard times recently.

It owes around 2 billion forints, and these financial difficulties led to the club being relegated to the second division for the first time in its history prior the 2006-2007 season.

McCabe is planning to completely rebuild Ferencvaros’s crumbling stadium. He also wanted to help bring the football side back to its former glories by exchanging players.

Sheffield United has been expanding its worldwide network, and Ferencvaros will join Chinese side Chengdu Blades and Belgium’s Royal White Star Woluwe in its portfolio.

 

[TonyAgana]

Good news finally.

 

[Linz]

That means the Hungarians can stop protesting then

2 billion forints is about £5,500,000 if I've put enough noughts on.

 

[matth]

Great, let's all support the PLC, at least that's doing well.

Can't wait til we're the richest club in the conference.

 

[TonyAgana]

Great, let's all support the PLC, at least that's doing well.

Can't wait til we're the richest club in the conference.

At least something about the club is attractive at the moment, eh?

 

[Linz]

Great, let's all support the PLC, at least that's doing well.

Can't wait til we're the richest club in the conference.

You really aren't a happy Blade at the moment are you matth?

While we are so poor on the pitch, the off-field successes are scant consolation but if it means our web widens in the search for good and cheap players, it's hardly a bad thing.

McCabe might pull through for you this afternoon and you can turn that frown upside down...

 

[matth]

Nah, I'm not, really.

Also, the off-field business seems to be making fuck-all difference to what goes on on the field of play, other than making it look even more desperately disappointing.

Much as I want Robson to go, part of me fears that the problems run even deeper than that.

 

[shorehamview]

We'll soon own more clubs than Tiger Woods.

 

[BexleyBlade]

Anyone reckon theres any chance of this "5.5 million" contributing to our personal progress in the most important access of SUFC (the football - for those who had got bored with it lately)???

Nope me neither

 

[Bladesman]

Nah, I'm not, really.

Also, the off-field business seems to be making fuck-all difference to what goes on on the field of play, other than making it look even more desperately disappointing.

Much as I want Robson to go, part of me fears that the problems run even deeper than that.

It will make a difference in the long run though.

Unfortunatly it means little to us right now.

 

[7UpJordan]

We're all a bit Hungary for success aren't we?

I'll get my coat.

 

[Linz]

I'll get my coat.

It's the one that's three sizes too big with hay in the pockets

Jonny, we've missed your witticisms... don't leave us again :cry2:

 

[shorehamview]

It's the one that's three sizes too big with hay in the pockets

Don't stand for this Jonny!

 

[7UpJordan]

It's the one that's three sizes too big with hay in the pockets

Wrong, it's the "Bros. Jacket" as Gez used to call it.

 

[silverfox]

It will make a difference in the long run though.

Unfortunatly it means little to us right now.

I agree with you on this one!