ALK were paraded as the new owners in waiting and presented to club officials including the Manager CW at the Southampton game 2 days before Justice Fancourts judgement was read out. KM was to be on the Board with a 15% shareholding retained. This 15% could have related to the Kop site land he owned. We do not know.
ALK had already arranged for their project team of 30 to come into the club and implement a number of changes including a recruitment model. ALK's leveraged buy out relied on the Blades remaining in the EPL for 5 years as the loans they intended to repay in 20% installments were to be covered by TV money.
ALK were extremely confident they would take over at SUFC that even when it was announced PA had won they indicated they were looking to buy the Club off him. It seems KM was of the firm belief PA would sell immediately to the highest bidder and he remained confident he would have a place on the Board. It was reported that KM and PA had met for dinner prior to the outcome of the Hearing, we can only speculate what was said. It was interesting, however that they met again immediately after the judgement which led to KM going to the Daily Fail and ranting about broken agreements.
When a Judgement is made notice is given in advance to each parties legal representatives so that they are equipped to make representations if they see fit. Normally this is at least 48 hours. I still can not fathom how KM did not know what was coming on the Monday morning when he paraded ALK at the Club on the Saturday. His legal representatives would have had a duty to inform him. I can only conclude he was under the delusion PA would cut and run and sell to the highest bidder and that may explain the bitterness and pettiness that followed where he reneged on an agreement to sell the Kop site land some months later.
As the Court heard the deal with ALK was done and dusted with KM having no funds seeking a loan from ALK to pay off the £5 million in the event of the Court finding in his favour.
ALK wasn't a bullet we dodged it was an exocet missile. KM would have been on the Board urging financial restraint and it is very unlikely the level of support CW received from PA would have been forthcoming. Changes to recruitment a key issue between CW and PA would have probably led to his departure much earlier. Remember the first casualty of a KM win would have been Stephen Bettis who had supported PA and was CW's ally at the time. IMO we would not have had the successful first season in the EPL that we did as a consequence.
At Burnley ALK have invested as little as £15 million, loaned £65 million with a clause that forces them to pay it back in full on relegation and they still owe around £40 million to former directors. They are in a sorry state.
The Prince winning was the best outcome for the Club at the time. That doesn't mean to say I haven't concerns about the direction the Club is going in now with the United World vanity project lurking in the back ground and project invisible that has been going on since last November.
The supporters will be the last to know whats going on with regard to a potential sale. KM would have sold us down the river with ALK. We can only hope that PA has more integrity and will at least confirm to us that the Club is up for sale in the coming weeks. Alternatively he could dismiss these rumours and share with us how he intends to achieve the great times ahead that he alludes to.
ALK had already arranged for their project team of 30 to come into the club and implement a number of changes including a recruitment model. ALK's leveraged buy out relied on the Blades remaining in the EPL for 5 years as the loans they intended to repay in 20% installments were to be covered by TV money.
ALK were extremely confident they would take over at SUFC that even when it was announced PA had won they indicated they were looking to buy the Club off him. It seems KM was of the firm belief PA would sell immediately to the highest bidder and he remained confident he would have a place on the Board. It was reported that KM and PA had met for dinner prior to the outcome of the Hearing, we can only speculate what was said. It was interesting, however that they met again immediately after the judgement which led to KM going to the Daily Fail and ranting about broken agreements.
When a Judgement is made notice is given in advance to each parties legal representatives so that they are equipped to make representations if they see fit. Normally this is at least 48 hours. I still can not fathom how KM did not know what was coming on the Monday morning when he paraded ALK at the Club on the Saturday. His legal representatives would have had a duty to inform him. I can only conclude he was under the delusion PA would cut and run and sell to the highest bidder and that may explain the bitterness and pettiness that followed where he reneged on an agreement to sell the Kop site land some months later.
As the Court heard the deal with ALK was done and dusted with KM having no funds seeking a loan from ALK to pay off the £5 million in the event of the Court finding in his favour.
ALK wasn't a bullet we dodged it was an exocet missile. KM would have been on the Board urging financial restraint and it is very unlikely the level of support CW received from PA would have been forthcoming. Changes to recruitment a key issue between CW and PA would have probably led to his departure much earlier. Remember the first casualty of a KM win would have been Stephen Bettis who had supported PA and was CW's ally at the time. IMO we would not have had the successful first season in the EPL that we did as a consequence.
At Burnley ALK have invested as little as £15 million, loaned £65 million with a clause that forces them to pay it back in full on relegation and they still owe around £40 million to former directors. They are in a sorry state.
The Prince winning was the best outcome for the Club at the time. That doesn't mean to say I haven't concerns about the direction the Club is going in now with the United World vanity project lurking in the back ground and project invisible that has been going on since last November.
The supporters will be the last to know whats going on with regard to a potential sale. KM would have sold us down the river with ALK. We can only hope that PA has more integrity and will at least confirm to us that the Club is up for sale in the coming weeks. Alternatively he could dismiss these rumours and share with us how he intends to achieve the great times ahead that he alludes to.
