Anyone know who made the offer?
Did Vincent really turn it down due to his fondness for the club?
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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.
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.
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.
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.
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.
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.
But a lot of those businesses, if they are not trading they just lay the staff off, so overheads are reduced, and if he got rid of them then in 12 months time somebody else would be making all the money from them. As someone else said, you don't sell at the bottom of the market.
'Wealth increase of 10 men during pandemic could buy vaccines for all'
https://www.bbc.co.uk/news/world-55793575
Although only focusing on those 10, who's to say that Mr Tan has not benefited from the pandemic financially?
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).