Sarbjot Johal

[Old Man Kensey]

I still think that by holding any deal up until he sees where we are next season and then providing the EFL with all the documentation is the most valid reason for the hold up.

He will no doubt in my opinion wanting to renegotiate the price due to our relegation and Jason isn't playing ball at the moment.

The price of the club has nothing to do with the EFL tests.
Once these are completed the owner and Sarbjot can argue over the price, they are two separate issues.

[marky No.1]

Will he fork out another £100K+ for the wages this week I wonder?

[Old Man Kensey]

Will he fork out another £100K+ for the wages this week I wonder?

That's the next big question.
If not I've no idea what will happen, other than our debts rising.

[marky No.1]

Will he fork out another £100K+ for the wages this week I wonder?

That's the next big question.
If not I've no idea what will happen, other than our debts rising.

500 season tickets? The debts will rise anyway, but at the meeting it was said there was no agreement to actually pay him back!

Hopefully the Gala Draw will see lots of businesses on board, it was always classed as one of the biggest money raisers of the year

[redrobo]

I still think that by holding any deal up until he sees where we are next season and then providing the EFL with all the documentation is the most valid reason for the hold up.

He will no doubt in my opinion wanting to renegotiate the price due to our relegation and Jason isn't playing ball at the moment.

The price of the club has nothing to do with the EFL tests.
Once these are completed the owner and Sarbjot can argue over the price, they are two separate issues.

I don't agree....the EFL will have to be assured that whoever buys the club has the finances to back the club both for the initial purchase and then going forward. If as an example he offered £5m but couldn't back that up with details of him having that money then no deal BUT if having waited to see which league we find ourselves in and he offers £2m and he has evidence of that amount of money then any deal could be approved. This is only my take on the situation and I'm sure many will have a different and as always I could be wrong.

[Old Man Kensey]

I still think that by holding any deal up until he sees where we are next season and then providing the EFL with all the documentation is the most valid reason for the hold up.

He will no doubt in my opinion wanting to renegotiate the price due to our relegation and Jason isn't playing ball at the moment.

The price of the club has nothing to do with the EFL tests.
Once these are completed the owner and Sarbjot can argue over the price, they are two separate issues.

I don't agree....the EFL will have to be assured that whoever buys the club has the finances to back the club both for the initial purchase and then going forward. If as an example he offered £5m but couldn't back that up with details of him having that money then no deal BUT if having waited to see which league we find ourselves in and he offers £2m and he has evidence of that amount of money then any deal could be approved. This is only my take on the situation and I'm sure many will have a different and as always I could be wrong.

Sarbjot cannot negotiate on the price until he has passed the EFL tests. His offers aren't worth anything until the test with the EFL is passed.

[forces shrimp]

What’s to say that Mr Johal has not already passed the F&PP test? You know what the EFL are like they are not going to publish it or broadcast it on social media. If he has passed it, maybe this is what the hold up is, he’s now in a position to renegotiate his offer due to us dropping down a league and current owners are unwilling to budge on it! This is just me speculating though.

[redrobo]

Looks as though OMK and I will have to friendly disagree.

Still maintain that for the EFL to give their approval part of the process is to ensure that he has the finances needed for both the sale and going forward otherwise any approval is meaningless if he hasn't got the finance when it comes to taking over the club.

The EFL would be failing in their duty if they allowed him to proceed with no guarantee of having finance in place......surely..

[SupermarketShrimp]

Just reading the latest on here.

Mr Johal can negotiate what price he likes to "buy" the shareholding that Bond Group have in the club. He cannot however be someone who has significant control (ie north of 10% of the shares) without passing the OADT for the EFLs regs which makes you subject to a points deduction (see Birmingham City) and why you're unlikely to see Mr Johal put any more money in unless he's passed that test. But that's just my opinion, I don't know this as fact.

The wages are believed to be fine - also, bear in mind if we don't pay this month, we can't sign any footballers until we have, and it's going to be a tough sell as it is.

It's rumoured that the money (and its a lot of money) exists. What doesn't exist, again strongly rumoured, I don't know, is the Anti Money Laundering paperwork for it - what I can confirm is that anyone vaguely competent, should be able to knock out that paperwork in an afternoon for legitimate funds.

The more money you as a fan spend in the club, the money the club has for footballers as all the charges Bond Group saddled with the club and their interest rates have been settled in the main, so it's very very hard for money to be taken out without the directors say so. He will make all his money from a sale of the club, not taking 100k here and there from a player sale. Breakeven is just that. We are only going to spend what comes in. I mean, there's an argument that all clubs should only be doing that and that alone, but thats an argument for another day. 3000-3500 at home - even at our ticket prices - I bet Derek can do a good chunk with that.

If you get your Trust subscription in - it covers next season, so get signing up/renewing. I bet the brethren aren't here aren't all members!

Hope this helps.

[Keith]

What’s to say that Mr Johal has not already passed the F&PP test? You know what the EFL are like they are not going to publish it or broadcast it on social media. If he has passed it, maybe this is what the hold up is, he’s now in a position to renegotiate his offer due to us dropping down a league and current owners are unwilling to budge on it! This is just me speculating though.

I'm pretty sure that if Mr Johal has passed the 'fit & proper person test', he would have told us, very loud & clearly, that it isn't him delaying things.

[twosheds]

Martin Calladine has just provided an update on Johal's Man Of The Year Award on his Twitterfeed......looks like our Mr Johal is doing a fine impersonation of Walter Mitty...

https://twitter.com/uglygame/status/166 ... pRHalCxNkg

[skeletor]

Sarbot is now being linked with Wigan Athletic!

[Seasider9601]

Sarbot is now being linked with Wigan Athletic!

According to this, indeed he is..........


https://twitter.com/TheAthleticFC/statu ... 5527255040

[Seasider9601]

And from the Wigan site:

A statement from the ownership group:

A deal has been agreed in principle for the sale of Wigan Athletic Football Club to a prospective new buyer - subject to EFL approval.

The prospective new owners have committed to resolving all outstanding liabilities at the earliest opportunity.

Further updates on this process will follow in due course.

[redrobo]

Without wishing Wigan any harm, I'm over the moon about this news if true.

Hopefully this will now clear the field for a local consortium to take over of which there is one who have already put a bid in before I understand.

Just hope that some deal can be reached and that we can get on with giving DA the backing he needs both on and off the field.

[glagys]

So if he’s trying to get in a Wigan the the EFL must ask who he’s interested in as he cannot be involved with 2 clubs can ??
So one application must be void and if he’s after them I assume the EFL and rejected his credentials for his bid for us

[Wild Bill]

I suspect Johal never submitted the necessary paperwork to the EFL. Perhaps he got cold feet after we were relegated or it might have always been a publicity stunt

[Westgate Wanderer]

He is still going to have to prove he has the money whoever he tries to buy. If he suddenly proves he has oodles then it's Wigan gain! Our owner should now be able to look at any other offers on the table.

[P/T Indie]

There is a guy on twitter who has been following this closely thinks our board have managed to stop the takeover.

[twosheds]

Martin Calladine is the chap...and here is his lastest take on buggerlugs...

https://twitter.com/uglygame

[P/T Indie]

There is someone else SST Investing.

I never realised until recently that Martin Calladine is the Against League 3 chap.


SST Investing
@SSTInvesting
Have a suspicion he’s passed the ODT given we know the EFL are about as useful as a chocolate teapot when it comes to financial diligence.

Feeling is that the Morecambe board prevented the takeover from occurring and threatened mutiny if it materialised

Hence the Wigan bid…

[black morse]

It's been picked up on the Wigan Fans site. They're not happy.

[black morse]

There is someone else SST Investing.

I never realised until recently that Martin Calladine is the Against League 3 chap.


SST Investing
@SSTInvesting
Have a suspicion he’s passed the ODT given we know the EFL are about as useful as a chocolate teapot when it comes to financial diligence.

Feeling is that the Morecambe board prevented the takeover from occurring and threatened mutiny if it materialised

Hence the Wigan bid…

If this is in fact the case then well done the Board!

[KenH]

Feeling is that the Morecambe board prevented the takeover from occurring and threatened mutiny if it materialised

If this is in fact the case then well done the Board!

I thought at the time, the day after relegation, when we made no new contract offers and released all players not under contract, that perhaps it was our Board and Derek taking a nuclear option to try to force the issue, maybe to get rid of Sarbjot and force the owners to accept the lower bid from the fabled local business consortium.

I was always suspicious of the board's apparent "support" and friendliness towards Sarbjot in spite of all the doubts and evidence to the contrary, perhaps they were playing the "keep your friends close but your enemies closer" card to stay close to Sarbjot to try to keep tabs on what he was up to!

[Seasider9601]

I didn't hear it myself but I believe Johal has just been on TalkSport talking about the Wigan takeover proposal.

Did anybody hear it at all out of interest ?