Quote:
Originally Posted by shakermaker
I think my tiny brain is just starting to get all this. Sorry ASSF people.
The 'controlling shares for ASSF' flag was raised most recently when macca posted in another thread:
In my very basic understanding, the offer from ASSF will only become active (funds will only be released into the ASSF company account) in the event of two things:
- A valuation is allowed to be made of the club,
- Promise of a fresh share issue is made once a valuation is obtained.
With the valuation declaring that the club is basically worthless, the funds released to ASSF by Mr Khan would buy ASSF a gigantic amount of shares. The ASSF aren't demanding control of the club; it just so happens that the money available should O'Neill decide to play ball would (with just and fair proceedings) buy the company a controlling amount of shares. This money would go into the club rather than to the owner of any shares (as shares bought would be new) and therefore be available to bail out the club.
Questions of David O'Neill are asked because not everything adds up. I completely empathise with Jeff when he posts his cynical view (that it was O'Neill's plan all along to buy the club and fundraise for a bail-out to make his investment worthwile, as he knew of the club's troubles before he took over). O'Neill has also made up a story (akin to the tricks of EW) that he has received an unconditional offer of help from another party (if it was unconditional, why not accept it straight off?!)
The O'Neill regime has polished the club up in its short time and no one from any party wants him to be removed, but it's pretty clear that he wouldn't invest the same amount of time or links or resources in the club without a controlling stake.
Obviously the only beneficiary of this post is me and my basic grasp. If I've made any glaring mistakes I'm sure VALAIRIAN & co. will amend accordingly!  |
would the don having a controlling stake be good or bad in your opinion shaker? myself i reckon he's took this job on, i have seen improvements at the club since he did, so so far so good IMHO, so therefore to me deserves a crack at it. this old tax bill (2006) apart, things going in a far better way than under previous regime.
