Reply With QuoteThere are twitter rumours, probably shit , that he is looking to offload asap.
Yes, according to Dalman he has turned down a good offer.
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Anyone know who made the offer?
Did Vincent really turn it down due to his fondness for the club?
There are twitter rumours, probably shit , that he is looking to offload asap.
Yes, according to Dalman he has turned down a good offer.
Fake twitter accounts? I honestly don't believe he wants to sell. I wonder who offered to buy the clubOriginally Posted by Former Labour leader
No, he likes losing £3 million a month, it’s fine....no worries....if only he had about 45 million from sky eh?
Reading the other forum it appears that Sam is involved and that’s why Tan turned it down?Anyone know who made the offer?
Did Vincent really turn it down due to his fondness for the club?
Which is quite confusing don’t you think....which is true do you think, he had a good offer? Or he wants to sell?
There’s no way way hammam has the funds...he didn’t before
If we believe Dalman he has had a number of offers over the years, including at least 1 good one.
Given the current worldwide recessions which are undoubtedly affecting Tans business interests it is almost inconceivable that he is not looking to sell CCFC. I think we are lucky that his 'pride' is not allowing him to sell at any price and he continues to support us. Mind you I dont think that support can continue forever.
Must be true if it says so on Twitter
Whats this "support" nonsense? Most of the debt is of his own making after a number of poor decisions.
Wonder why he doesn’t sell say half to one of his very wealthy Chinese chums? That would be ideal wouldn’t it?
Tan bought this as a business.
I would assume he was always willing to sell for the right deal
If Tan wants to build the narrative that he loves the club then I can't see that being a bad thing.
I suspect there's an element of Malaysian culture mixed in here somewhere meaning he won't sell unless he can make it look as if he's doing it for the 'bigger' good of the club. Not necessarily a bad thing as Tan has undoubtedly been the best owner we have had in my life time.
Thank god for that.
Fake news :) Also, if we’re supposedly losing 3m per month (36m per year) despite picking up 36m in parachute payments this season then we’re apparently bleeding 72m a year? That doesn’t sound right. Or did they conveniently not include this revenue when highlighting those losses? In which case we’ll break even give or take.
Why do people continually talk about VT's financial position and the club not being able to afford this or that as if they know all about his personal and club finances.
It's bollox. Like people saying there is no money for players just before we buy one.
I'm not pretending to have any insider knowledge. The businesses that I know that Tan is involved in, and this is in the public domain are in retail, hotels, McDonald's franchises and car sales. All those have been affected by the pandemic. In that scenario cash flow is not going to be good and it really doesn't take a chartered accountant to suggest that he ought to consider selling loss making businesses. Doesnt mean to say he will though.
On the other hand, you don’t sell businesses when their valuation is low.
Vincent Tan might look at selling the club if it were promoted, where its valuation would be much higher, thus releasing cash for his other businesses (or himself).
What happened to that promise about being debt free in 3 years? Wasn't that about 4
years ago?
No - it was debt free in 5 years - and was said 5 years ago (mid February 2016).
Since then Mehmet Dalman has answered questions about the 'debt free' commitment several times - and the Trust has given regular commentaries on progress.
I may not have remembered this right - but I think Tan has converted £79m to equity and written off other debts on top of that - but the Board advised him to postpone any further conversions (last year or the year before?) because (I think) of FFP rules and since then the Covid impact.
Maybe Keith can give an update on the latest position.
Whatever - Tan went a long way to doing what he said in 2016, but is not there yet.
Malaysian maybe
At the recent meeting with MD and KC, KC confirmed that no further conversions of debt to equity had happened since the last set of accounts. As you say, this month is the 5th anniversary of VT’s commitment. There is no doubt that he was converted a significant amount of debt to equity, Michael Isaacs would not be bringing his legal case against us if he had not. VT has also written off debt. However he has also transferred some of his debt to other parties so the “debt free” aspect, if that was what he promised I can’t remember, is not going to be the case. We are also trying to borrow £8m from the EFL, that will have to be paid back by 2024 I think, which will increase indebtedness in the short term.
Half of Malaysians are Chinese Malay I think?
If he's run us as a business then he's failed massively. He should have got someone in straight away, in the background that knew football. That one appointment could have saved a lot of money and disappointment.
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