McCabe

[DMB]

ESAB
this is why KM set up the meeting to explain his side of the story surley
do we have any info on whether the meeting is still on

 

[blade too long]

I thought the opinion on here used to be that McCabe wasn't willing to match the increased investment that the Prince wanted to put in?

was pure guess work
no one knows what was the agreement
looks like mccabe challenged him to cough upwhat he promised and its not been forthcoming

he sold him half for a quid because of promised investment , I expect it to hinge on proving the said investment has not been enough to match the low joining fee

 

[LenTednTony]

...I would expect that either party could invoke the clause of buy out. If KM is pissed at The Prince, what a time to invoke it, just when The Prince has bought into that other club abroad. This timing might be KM’s best chance of regaining total control. In fact, it might be that that has pissed him off. Invested abroad instead of in SUFC.

 

[Blade58]

meeting postponed at Copthorne

 

[Bladeinleeds]

Genuine Q - is the investment as big of an issue as first thought.

Wednesday lost £20million this season and on the surface (who knows what will happen) look to have had their crack at getting to the premier league - the expectation appears to be there will have to be player sales to meet FFP - can only lose a max £9m

Is there any point risking it all for one attempt and being left with a squad on huge wages? The wages more than the transfer fees are the issue here.

I'm coming round to the view that slow and sensible investment (ideally at a level more than we are currently seeing) is the best way to develop in this league for the time being.

 

[Addison]

KM is fed up with PA's lack of investment
KM suggests to PA that he buy him out and PA agrees if the price for the remaining 50% is acceptable
KM & PA agree a price for the shares
KM & PA both know that as part of the original agreement, if PA owns more than 70% of the shares then he has a specified time period to buy all of the assets KM currently owns
KM knows that PA can't afford this and therefore will pull out of the deal, allowing KM to buy PA's 50% and the problem (PA) goes away
PA decides to be clever and proposes that he will by KM's 50% through a member of PA's family, thus ensuring that the 70% clause can't be invoked
KM unsurprisingly objects to this as PA would have control of the club and have access to all the assets of KM for a relative pittance (low annual rent)
KA & PA now involved in legal arguments

Interesting are you saying the Prince is going into partnership with a member of his royal family 50/50 for Blades Leisure Ltd to avoid having to buy all the remaining assets? Presumably you mean the ground and Shirecliffe when you refer to access to assets for a low rent. Has Mr McCabe been outflanked by the Prince?

 

[Maidenhead]

Didn't the Prince instigate the buyout clause?

Truthful answer is that I don't know but it has been widely reported that the process was instigated by a company wholly owned by either McCabe or Scarborough Group. ( I can't be bothered to look it up) and that forced the Prince's hand leaving him with no option other than to launch a buy out or accept a pay off.

 

[Jon Slinn]

Would you fancy being in a similar position as Hull or Coventry.. Fans , directors , players at each others throats, Throwing pigs, balls and other stuff on the pitch.

Having to blow fuckin whistles to get your point across. Give me McCabe any day of the week.

British ( English ) is best. As is Sheffield United.

 

[Maidenhead]

Out of interest I wonder what the 29 people to date that said that they "wouldn't accept McCabe as sole owner" intend to do about it?

It's not like they can actually change anything.

Maybe they could have a bit of a tantrum and throw their toys around.

 

[dingledog]

meeting postponed at Copthorne

Where have you seen this please?

 

[Blade58]

Where have you seen this please?

Poster on BM

http://boards.footymad.net/showthread.php?t=38215105

 

[Fraggle Blade]

still think there'd be something on the club website about it!!!

 

[Fanny magnet]

Poster on BM

http://boards.footymad.net/showthread.php?t=38215105

Is that fucking Abomination still active?

 

[Maidenhead]

still think there'd be something on the club website about it!!!

I think it's a KM initiative, not a club one.

 

[Blend-it-like-Harris]

we can't go from looking at Port Vales reserves to signing Balotelli (I've given an extreme and obvious example to show how it could go wrong)

Don't bring poor Balotelli into it when you should be giving Jordan Rhodes as the extreme example - much closer to home!
Let's trust Mr McCabe.... generally speaking we've not done too badly out of his investments, and I doubt very much that even what we as fans have suffered over the years doesn't come close to the stress he must have had to endure.

 

[South Bucks]

I'm surprised there is confusion about who initiated recent events, its clearly Sheff Utd Ltd which is controlled by the MCCabe family and as explained in the statement issued by the club and reiterated in the Star with other clues as to what's going on. HRH via his company(s) (UTB LLC ?) appears to have responded to the initial action which I would expect anybody to do initially to buy time.

I also notice the clip since of Kev saying something like "I'm not going anywhere" and if true it would appear we have a game of poker going on which Sheff Utd Ltd has initiated and its up to HRH how he wants to respond.

In other businesses this might be seen as a kind of put up enough dosh or shut up and be on your way kind of provocative move designed to force an investment decision by the other party.

I also wonder if their arrangement might mean the other party has first option on any transfer of ownership but only if terms are met and if not after a time ownership of Blades Leisure reverts to the one still in the game or opens the door to a third party to enter the fray. They'd need all these sort of exit clauses in any contract like this in case one side wants to move on. Just guessing of course.

https://www.sufc.co.uk/news/2018/february/statement/

 

[Tom Bott]

has any one read how well wednesday are doing with their increased invesment

lost 20 odd million last year and will do again as its all player wages
mind your there are plans for a second bigger tarpaulin for the south stand

Yes looking at 50Million in losses over three years, some think we should be spending similar.

 

[MiserableBlader]

We have a budget that means 'players are paid way, way below average' to quote CW and have never stopped selling players.
Where was this land of milk and honey that we might lose?
I must have slept like kin Sleeping Beauty :?

 

[Tom Bott]

Wednesday lost £20million this season and on the surface (who knows what will happen) look to have had their crack at getting to the premier league - the expectation appears to be there will have to be player sales to meet FFP - can only lose a max £9m

There is also talk that some of their 'injured' players are not being played because of bonus clauses in their contracts.

Should be interesting if the truth ever comes out.

They are fecked whatever happens.

 

[Tom Bott]

We have a budget that means we have never stopped selling players.

Though you could list all those sold this season.......