Emne: TOMA 1: Rykter og spekulasjoner om Takeover

[Asbjørn]

Tipper hennes navn er Victoria...

Den var nesten dyp (like dyp som disse fallene  )

[Pheriox]

Synes den ene kommentaren i kommentarfeltet under følgende YEP artikkel var interessant lesning: http://www.yorkshireeveningpost.co.uk/sport/leeds-united/latest-whites-news/leeds-united-takeover-gfh-planning-full-buy-out-of-whites-1-4990769

It is well known that GFH Capital (formerly Injazat Capital) has very little proprietary (investable) capital on their balance sheet (circa US$ 5 - 10 million) and thus, the only way they can do this deal is to raise money from ME co-investors (likely at a premium to acquisition price, which is their M.O. -- see below) in an attempt to fund the deal.

Earlier this week, Gulf Finance House, parent company of GFH Capital, (acting as placement agent for GFH Capital) began sending out a private placement document to select investors in the ME in an attempt to raise money to fund the deal. The document contains mostly pictures of the stadium and players and offers virtually no details whatsoever on GFH Capital's plan post-acquisition --- other than that they intend to acquire "LCH, and sell it once LUFC is promoted", and that "the asset could be worth on a conservative basis £98.69mn".

Further, Gulf Finance House are actually soliciting minimum investments of £1 million in an asinine attempt to try and fund the deal. They do not mention valuation, use of proceeds, nor much of anything else useful at this stage, but if you assume they can somehow get half of the £52 million purchase price in debt financing, that means they have to raise the remainder from the ME investment base --- and trust me when I say that ME investors have no faith whatsoever in Gulf Finance House as an institution. Also, that could leave up to 30 owners of a football club, albeit such investors would likely subscribe to an offshore SPV and thus relinquish all rights to GFH Capital -- a group which are clearly well experienced in the management of professional sports franchises -- NOT!!

Below is an excerpt of an email Gulf Finance House sent yesterday introducing the deal (names removed to avoid harassment):

Dear Mr. XXX,

Please find Gulf Finance House new investment opportunity to acquire Leeds united football club you will be having a direct shares in the club as board member. Minimum investment ticket GBP 1M.

If you are interested in the investment please contact me for more information & details.

Best Regards,

xxxxxx xxx xxxxxx
Investment Relationship Management
Gulf Finance House B.S.C.
Bahrain Financial Harbour | Floor 36, East Tower | PO Box 10006 | Manama, Kingdom of Bahrain
Main Tel: +973 17 538538 | web: www.gfh.com

One need only to use "the google on the internet machine" (thx, Will Farrell) to understand what a mess GFH is -- and thus I am SHOCKED that the seller (Bates) hasn't asked for proof of funds, especially given how long these rank amateurs at GFH have been stringing him and Leeds along! And if you want to read what a scam GFH is read this: http://reading.academia.edu/MohammedKhnifer/Papers/281698/The_Rise_and_Fall_of_Gulf_Finance_House

[Erik_]

Chairman Kenneth Bates "redder" Leeds United igjen altså.*ironi*

Amatørmessig hele denne seansen!

[Promotion 2010]

Hmmm  

Boozie nå nettopp:

Today I received some information which has led me to conclude that a GFH takeover would not be in the interests of Leeds United.

Until yesterday I did not have any financial concerns but today it was confirmed to me I should have.

Ken Bates, by refusing to allow this deal to go through until he has explored all available options, is I believe acting in the clubs interests not his.

I am happy to eat humble pie, but the forces behind the TO are not what they originally were and I have no confidence in GFH.

...litt senere:
I might add, if Bates had acted swiftly earlier in the summer the forces behind GFH would have still been there and we would have been laughing. I still blame Bates for this debacle but he is right about GFH at this point in time.

Nå da, Jon???

[Asbjørn]

Det er nå blitt offentlig hva den Trojanske hesten til GHF inneholdt 

[auren]

Gjesp!

auren

[Jon R]

Hmmm  

Boozie nå nettopp:

Today I received some information which has led me to conclude that a GFH takeover would not be in the interests of Leeds United.

Until yesterday I did not have any financial concerns but today it was confirmed to me I should have.

Ken Bates, by refusing to allow this deal to go through until he has explored all available options, is I believe acting in the clubs interests not his.

I am happy to eat humble pie, but the forces behind the TO are not what they originally were and I have no confidence in GFH.

...litt senere:
I might add, if Bates had acted swiftly earlier in the summer the forces behind GFH would have still been there and we would have been laughing. I still blame Bates for this debacle but he is right about GFH at this point in time.

Nå da, Jon???

   I jungelen av rykter og spekulasjoner siden mai : Hvorfor skal jeg stole på akkurat disse? 

Mvh Jon R, ikke overbevist. 

[Kickthemdown]

Gjesp!

auren

Veldig dekkende ja. Only in Leeds.

[Asbjørn]

Boozie igjen:

Ok in light of the criticism here is my response:
1. GFH brokering for consortium
2. Bates stalls as much as possible
3. Bates approach consortium direct
4. Consortium deal with bates direct GFH Out of the picture
5. GFH/Consortium chops and changes over and over
6. Turns out GFH do not have financial backing of consortium and no indication of cash flow.
7. Beaat deal for lufc is any deal that is not GFH.

They havnt got a pot to piss in after losing consortium. There are list of options to Bayes that are better tha. gFh. If only he had sorted this back in June!

[Asbjørn]

Bates på YR, på forhånd var man spent på om han ville 'slakte' GFH og kanskje åpne for andre kjøpere...
Men neida, Bates virker ivrig etter å selge, skylder på at advokatene til GFH sinker salget...

(GFH, gjør de dette for å vinne tid, skaffe nye investorer??? - dette er tanker man gjør seg etter intervjuet, Kenneth sa ingenting om det)

Her er et summary:

QUOTE ( Frusciante Is God @ Oct 6 2012, 01:16 PM)

Bates, good start, had a tough run to start the season with, played top teams and have lots of injuries,

New players are starting to gel, says that these players are working hard which was unlike last year.

No off field problems with these set of players and managers.

Impressed with Diouf contribution, Diouf good at keeping possession of the ball, compared Diouf to Jimmy McIllroy.

Talking about Thompson new contract.

Bright youngsters with Thompson, White, Lees, Taylor and the Turner twins

Said Warnock says he is happy with his squad now

Warnock has a loan player in his sights

Making plans for January window

Shaun Harvey done a good job of getting fixture arranged for Southampton game

Travelling is tiring.

UPDATE ON INVESTMENT

Confidientially agreement is one sided.

Info being leaked from Gulf, and the info they release is confusing.

DEAL IS A STRAIGHT FORWARD deal, and thinks their lawyers are making complications, and doesnt know what the delay is.

Says he does lots of deals all the time in and outside of football. And doesn't think the deal is a massive deal compared to GFH standards

Doesnt think that the lawyers are acting in GFH best interest.

Documents for the deal are unnecessariily bigger than they need to be

Deal should be done quickly, but the lawyers keep adding things to deal last minute and making changes

Tells fans not to blame him for the delay


- - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Sounds like his arse has fallen out and he REALLY needs to sell. Very pleady "don't blame me", etc

Someone's going to buy us soon. He knows he's history. And panicking there's a risk it won't happen fast enough to save him the embarrassment of FA hearings and/or admin

[Glenn K]

http://www.youtube.com/watch?v=pYlTb28rwQA&feature=youtu.be

Her er intervjuet med Bates.

[4ever arcticwhite]

Tipper hennes navn er Victoria...

To skritt fram og ett tilbake.

Trodde det var Susannah.
When Susannah cries.....

[Asbjørn]

http://www.youtube.com/watch?v=pYlTb28rwQA&feature=youtu.be

Her er intervjuet med Bates.

Transcript over takeover-biten:


What Ken Said – 06.10.12 – Don’t Blame Me
By Fax Man On October 6, 2012 · Add Comment

Taken from the end of Yorkshire Radio’s interview with Leeds United’s current owner Ken Bates today…

Ben Fry: Chairman, can we finish with an update on the investment? Is there anything you can tell us?

Ken Bates: Well I’d like to Ben but as I’ve said before the confidentiality agreement, which seems to be a bit one-sided, it makes it difficult to say anything. Of course the stuff that’s coming out now from the Gulf, some from GFH itself but a lot more from the fringe and the press and the media out there, is a little bit confusing. The real problem is, I think their lawyers – because this is pretty straightforward deal by anybody’s standards, and I’ve done 100s of deals in my time – and I don’t know what the delay is. The problem to me is they appear to be making complications when there’s no need to do so. I understand the *inaudible* is 171 pages long. I don’t know what they’ve put in it and they’re moving at a very slow rate. And I question whether they realise that they’re not acting in their clients’ best interests. I know GFH want to complete a deal and we are happy to do a deal with them but when last minute extra things are slipped in, it makes things difficult because you think that’s not in the heads of terms so why is it in? They can’t give you an answer and I think, as is the case with lawyers, they do act on their own initiative rather than just following up their clients’ instructions. I did a deal on another matter last week – nothing to do with Leeds United – and the whole thing was reduced to one sheet of paper once we knew what we were doing and that was it. It went to the lawyers, the sheet came back two days later and it had been signed. By GFH’s standard’s this isn’t a very big deal and I don’t know what the delay is. All I can say to the fans is… don’t blame me!


http://www.thesquareball.net/what-ken-said...n-bates-update/

[RoarG]

Så GFH kjøper ikke, da? Mangler penger? Vel, da finnes det vel andre potensielle kjøpere. Leeds Utd må da være et ettertraktet kjøpsobjekt?

[Asbjørn]

Så GFH kjøper ikke, da? Mangler penger? Vel, da finnes det vel andre potensielle kjøpere. Leeds Utd må da være et ettertraktet kjøpsobjekt?

Skal man tro GFHs statement fra forrige helg så har de visst kjøpsopsjon frem til nyttår...

Så det beste vi får hope for er vel at de finner nye investorer/klarer å lokke de gamle tilbake...

[Thomas]

http://www.na24.no/article3485009.ece

Ikke noe nytt, men litt artig at det står et så utfyllende stykke om Leeds i en norsk avis.

Snakker vi tidenes første artikkel i en norsk nettavis med bilde av Don Revie? Jeg tipper det! 

[RoarG]

Opsjon til nyttår? De bør jo bli ferdige før jo heller, slik at NW kan planlegge evt. nyanskaffelser i god tid før januar måned opprinner.

[Asbjørn]

Sorry if this has been posted but I haven't been able to read the latest on this thread as I've just left the game and on my mobile.

From my seat I get a great view of the directors box. Haigh was in the box sitting at the front. Just before ko Bates got up and called him up to sit next to him. Seemed pretty friendly and certainly not like 2 parties that were not going to do business together.
Edited to say im pretty sure it was Haigh but maybe someone can also confirm

-  -  -  -  -  -  -  -  -  -  -

 I was in a box today, Haigh was definitely there.

[Asbjørn]

Phil Hay ‏@PhilHayYEP
It appears that GFH Capital's David Haigh was present at ER with Ken Bates again today. GFH source claims the TO deal is "in a good place."

[Promotion 2010]

Sorry if this has been posted but I haven't been able to read the latest on this thread as I've just left the game and on my mobile.

From my seat I get a great view of the directors box. Haigh was in the box sitting at the front. Just before ko Bates got up and called him up to sit next to him. Seemed pretty friendly and certainly not like 2 parties that were not going to do business together.
Edited to say im pretty sure it was Haigh but maybe someone can also confirm

-  -  -  -  -  -  -  -  -  -  -

 I was in a box today, Haigh was definitely there.

Hvem sier det siste der?

[Asbjørn]

Hvem sier det siste der?

Signaturen Amdav

[J-R]

Hahaha
Nå blir det TO snart!!
God helg alle!
MOT!

[Glenn K]

REALcomms lufc ‏@lufcclubb4job
As I mentioned yest - GFH at game today w/ Bates after positive Friday meeting. Believe Bates plans to stay in UK for a few days yet. #lufc

Vet ikke hvem denne brukeren er, men han/hun har jevnlig kommet med oppdateringer og mener å ha inside information om det som skjer..

[Bites Yer Legs]

Den største skuffelsen angående takeoveren er at vi ikke har noe episk navn på tråden a la TOMA på waccoe. Bittert.

[Asbjørn]

Adam Pope‏@APOPEY

#lufc A source close to deal tells @BBCLeeds that lawyers are not holding up takeover as suggested by Ken Bates but are being diligent*

*flittig

[Asbjørn]

Adam Pope‏@APOPEY

#lufc source also tells @bbcleeds that lawyers are in final throes of deal. Reiterated GFH(Capital)'s commitment to 100% purchase of club.
 


-det går nok veien nå.
Så får man bare håpe at de har (fått skaffet til veie) kapital å spytte inn

[Asbjørn]

Adam e i siget i kveld

@APOPEY:

"#lufc Source told @bbcleeds the lawyers ensuring all is ready for GFH (Capital) to invest long term in club after a non-leveraged* buy-out."

*ubelånt

[Asbjørn]

@APOPEY:

"#lufc Source says convivial* atmosphere between Ken Bates & David Haigh of GFH(Capital) at match. Haigh encouraged by fans he spoke to at ER."

*selskapelig

[Asbjørn]

Andrew Haigh (The Sun)  melder seg på

@AndrewHaigh: Also had contact with @haighdavid tonight. He says #lufc deal on track & in closing stages. Relationship between GFH & Bates remains good.

[Asbjørn]

Svend, nå tror jeg du har en sak (angående takeover'en)
97,85% sikker på at det blir en eller annen form for avtale mellom LUFC & GFH (Capital)