What a disaster of an investment this has been for Tan. He's lost at least £100m.Originally Posted by gabbsthenewt
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What a disaster of an investment this has been for Tan. He's lost at least £100m.
Dalman is Chairman & founder of WMG, surely too route one...
https://wmgfunds.com/team/
Karma for the rebrand
Think that's quite harsh.
He did it to [in his mind rightly or wrongly] help us and then when found to be wrong, put it right.
We could do a lot worse than Tan and if he did sell we could be wishing he hadn't
From Wales online
WalesOnline has now seen the document referred to in the reports in the Daily Star. We can reveal:
The 32-page brochure is titled 'Project Dragon' and is dated June 2017;
Its opening lines of introduction state the “opportunity exists to invest in English football market through acquisition of Cardiff City Football Club, a professional football team playing in the EFL Championship”;
It goes on to detail the steady rise of revenues at the top of the game in England, before outlining the “strong support of its major shareholder” and readiness of the club “to return to the top level of competition”;
The document details the growth in Premier League revenues and states Championship clubs “offer a strategic route to invest in English football”;
Under a heading of 'Investment Opportunity', it reiterates in its first bullet point that “opportunity exists to acquire Cardiff City Football Club”;
It goes on to stress its in-place infrastructure, loyal fan base and how investment would enable the team to continue its development;
The structure of the English football market is then detailed, before a focus on the club's organisation, its facilities, academy set-up and its historic achievements;
It also provides an outline of the current state of the side, saying that Tan was behind efforts to return to the Premier League and the fresh impetus provided by manager Neil Warnock, as well as outlining recent signings – including last week's addition of Lee Tomlin from Bristol City;
A financial outline of the club is given before an introduction to the city of Cardiff; and
The document closes with an invitation on any enquiries to contact named WMG staff.
^^^
That doesn't seem to fit particularly well with Mehmet D's 'strong refute' and 'it must be the "silly season" ' comments apparently from this morning.
If the club want to sell, i can see how it would also want (need) to be guarded and cautious but still somehow put the club in the shop window.
All without upsetting the apple-cart.
Not easy TBF.
But I hope, after all the recent healing that we don't go back to the club issuing plainly ridiculous statements and expecting fans to swallow it.
There was too much of that in very dark days, and those times are surely gone.
After the initial horrors, VT seems to have been graceful about it all in the last couple of years, and I hope he continues to be.
This. Tan's best chance of selling us is to get us us promoted.
With the money on offer at Sky, and if the report is correct (£30m asking price, which seems low) then it could be a cheap way to own a Premier League club.
So graceful, he refuses to step foot in the same stadium as the football team he owns?
£30m sounds like a bprelative bargain, what's the catch?
The club owes him £120m?
If it's a debt free club for £30m, then the club will be sold quickly for that price and to the right "gambler".
It's now getting close to eighteen months since Vincent Tan announced he would convert £68 million of debt into equity - the original reason given for the delay in that happening was the amount of time it takes for the Malaysian Government to authorise such transactions, but, surely, it shouldn't take this long?
The story in the Star raises the possibility that the main debt to equity conversion has gone through without the media fanfare that I for one was fully expecting when it happened. If it has done and the asking price quoted is an accurate one, then it seems to me that all City fans should be thankful to Mr Tan wiping out the majority of our debt while also putting the club up for sale at what strikes me as a pretty reasonable price in today's market.
However, if I had to guess, I'd say that there isn't much to this story. I think seven years is longer than normal for anyone to be an owner in today's game and now may be a good time for Mr Tan to sell up if he is that way inclined - I just believe that it's likely that there needs to be more preparatory work for such a sale at City.
I don't think the club will be sold for £30m debt free. Of course I could be wrong as I am not up to date with the club's finances.
Normally when a company is sold the price would not wipe out any debt that is on the books. In other words, unless Tan has converted all of the debt to equity which I doubt, the debt will remain. The most likely scenario is that Tan will be selling his majority shareholding - ie shares - which will enable the new owner only to gain control of the Company and to deal with any debt outstanding in the normal course of business.
As for some of the comments about Tan milking the club these statements are far from the truth. He has lost a fortune and in fact has turned himself into a decent owner which I for one will be sorry to lose.
I thought they had to stage the debt to equity over 5(?) years to beat FFP, as the investment isn't allowable under FFP rules. I think!
While I'm no Tan fan and despised the rebrand, I think Choo and therefore Tan, are doing a pretty good job at the moment. We could get a better owner but equally, we could get Vincent Tan mk1.
I hear you, but do you worry about that much?
He does seem to be putting us back down gently - 'at this time of writing' , as the phrase goes.
I am merely saying that Tan has been anything but graceful in the whole affair.
I am simply saying that I think he has been, in more recent times.
I say that as someone who was extremely vociferous about VT , the Re-brand and the intolerable mess that followed.
Perhaps it is all relative.
You and Tan have a common interest now . Neither of you want to visit the stadium .
I'd give £30 to buy the club....
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