Luppylad wrote:
Knowbody knows the truth in what is happening so dont get why people pretend to know,i personally got told that it had been finalised and gone through but i guess not.i would also say and i maybe totally wrong i dont know nothing in matters like this but wouldnt deals of a takeover have to be completed before due dilligence starts?
So I don't know the details of this one but I've worked in big businesses all my life and takeovers take a long time.
In this case the process is that the two parties agree terms, then do due diligence on each other, then finalise terms then do the transfer of shares etc.
Due diligence includes financial checks, both personal and business, checks on the current state of the club accounts and forecasts, understanding RFL rules and what limitations there are and in our case the building of the stand and the liabilities involved.
It's just going to take a long time.
Plus the fact, Ellis has put some money in to help us survive. Right now, him taking over will not improve it more before the end of the season. They can take their time now.
Minards needs to be in place to run the club while all this is going on so it doesn't just fall over.
