Bahrain Owl

Trading.... as in Del boy Trotter trading? Trading is based on buy and sell, hopefully at a profit. Of course; win some, lose some but lose on every deal and, without financial support, you soon end up bankrupt. Which is exactly where SWFC is heading, at an alarming rate, and potential buyers are fully aware of it. Hence, no deal has been announced.

Not familiar with it all and quite happy not to be either. I spend my time between Dubai and Malaysia these days to keep me out of retirement.

Again... Chansiri is not asset stripping. Asset stripping is a completely different business to what he is doing. Asset stripping involves a takeover, sometimes hostile, and the new owner has already recognised certain assets of their target purchase that he (or they) have determined to be more valuable than the previous owner had knowledge of. Asset stripping is very seldom done by an existing owner of his own assets. What Chansiri has done, or is doing, is simply known as a fire sale i.e. selling ones own assets at below market value to satisfy his own cash flow crisis. (By the way, asset disposal is my business - Google me)

Some fellow elder than I, will, correct me I am sure, but the North Stand at Hillsborough is historic that it was the first cantilever stand of such a spread with a totally unrestricted view (no columns) in the whole world. It was considered a structural marvel in its' day. One for the history books. Is this magnificent club on the verge of making history, once again, in a totally another way?

There was a hint of sarcasm in my initial response mate but I have just binge watched 3 full series of Friends on the plane. Sarcasm or irony - take your pick? To be serious, I agree with entirely.

Good observation. If they car pooled and departed at 9/9.30 and reached in plenty of time for an early lunch (perhaps a Little Chef) they would be well set for a early evening kick-off. And get back well in time for last orders (do the pubs still shut at 1030pm on Sundays?).

Because the buyer's consideration of a reasonable offer is usually a long way from the seller's consideration of a reasonable offer. Thus the negotiations start.... There is a "rule of thumb" out there for the evaluation of Championship clubs but this has now been greatly devalued by the owner disposing (not asset stripping - big difference) of certain assets to maintain cash flow.

It could have been Thai Herrick. Herrick Steel (US company) are one of the largest steel fabrication companies in the world and a lot of the steel for several stadiums in the US were fabricated in Thailand. Salesforce Tower in San Francusco was totally fabricated in Thailand.

He's not actually asset stripping. Asset stripping generally happens when a company is taken over and the new buyer recognises certain assets are of a higher value than previously recognised. These certain assets return a significant profit to the new owner and he sells what's left as scrap. The previous owner screams "day light robbery" or "he's a crook" but it's business and legitimate at that. The situation at SWFC is somewhat different. Here we have an owner, in desperation, who is selling his own assets at prices below their (let's assume) book and market value. This process only reduces the overall value of his entity of course. Plus it shows in the loss column on the balance sheet. Add into this that there is no investment into fixed assets of considerable value i.e. North Stand. Another unfortunate part is that the guy is unable to plug the ever increasing expenses (Thais, like other SEA nations do not practice preventive maintenance) within his business and this adds to the financial burden. Oh.... not to mention the company has revenue issues. Almost zero income June through Mid-August and, it appears, it will be greatky depleted Mid-August onwards. Hes a NOB!

Is this a cryptic way of referring to skeletons in the closets? Damn! The American terminology is getting through already.

Exactly, 40m sovs goes a hell of a long way running a business rather than an upfront payment to satisfy an avaricious seller.

I posted elsewhere Give a man enough rope and he will hang himself. Put yourself in a buyer's position. The company is a wet fart away from bankruptcy. Then ask yourself "why should I spend £40m when in 7 days I can get it for £1". Sure , this is a gamble but business people calculate this. It's money. Perhaps this is why potential buyers are keeping quiet?

I wonder if the Florida consortium, fronted by a Sheffielder, are familiar with the idiom "give a man enough rope..."?

Looking at that very well compiled list and adding the events of the last 2 years, it stinks of Corporate Negligence. Chansiri is 100% responsible for the administration of running a company according to the regulations in the United Kingdom (not the Kingdom of Thailand). It reads to me (and I am sure hundreds of others), he has fell well short. Finish the list and try and get a solicitor to submit it to the FA (there must be someone ready to do Pro Bono somewhere), if nothing else it should attract media attention.

According to latest news releases this afternoon (3pm here) Bruce and assistants have arrived in China this morning. Really - how long does it take to get a visa in the UK to visit China these days? It used to be 3 to 4 days expedited.