As things currently stand, there is 4 board members, with Mick and John owning about 47 / 48% each and the other 2 pretty much sharing remaining 5/6 %.

If the takeover goes through, they could just purchase 1873 and its entire assets and liabilities, or a deal could be done that the new owner (s) create a new company, and a selection of assets transferred across (SL license, players contracts etc), and the new stand / stadium remain a asset of 1873 and is leased to the new owners new company.

Its all guesswork and speculation at present what if anything will happen, but if the club is sold, then the current owners will be wanting to make a few quid on it one way or the other.

Guesswork? So why post so adamantly that they are wanting to get £200k a year from the stand and that they are blocking the takeover?

Seems to me some people are trying to cause trouble at the club by spreading misinformation.
I hope you all reveal your 'reliable source' when it all comes out as of course you want the best for the club.

I’ve plenty of evidence for all and more, that aside I’m happy with my ability to judge character

PT, you do not know him

Correct. I don't.
I don't think he's an angel by any means. But I don't think he's the devil that some think either.

I think he's a guy who makes hard decisions not everyone likes

You’ll quickly find out that those with a long term bee in their bonnet about MC and JM have migrated from the lawless site of Facebook onto this site and will try their best to continue to shed bad light on both regardless wether there is concrete evidence to back up their stories or not

What a joke of a post, ifs and buts,

if my grandad had tits he’d be me :grandma

Hi Jon.

Of course its ifs buts and maybes, no deal has yet been done. One of the majority shareholders is happy to sell for a quid, and is absolutely not bothered about his directors loans -doesn't sound like a pretty difficult deal to do if that stance is correct.

And you can only judge him on what you know PT, I don’t criticise you for that!

Not necessarily!
Now testicles that’s another story, then again in todays world maybe not

All that means is you don't understand the process.

Selling a house is much easier and that takes ages after you agree terms.

There are also some checks on owners from Super League/RFL if I remember rightly and that's before they've gone through the due diligence on the potential new owner. We've had a few like Pearman or Glover who talk big but then can't back up what they say.

Not a quick process at all.

How many RL clubs have you bought / sold if you know how the process works and how quick it takes?

Ah, for all bad points of Glover which there are many, people tend to forget he also saved the club initially when he took over, and our CEO was FD under is stewardship. Glover also wiped his directors loans when he walked away from the club, lets hope MC sticks to his words and really isnt bothered about his loans if / when this deal goes through.

Buying a professional rugby league club in the U.K. typically involves several steps. While the exact process may vary depending on the specific circumstances and the club in question, here is a general outline of the steps involved:

Research and Due Diligence: Conduct thorough research on the club you are interested in buying. This includes understanding its history, financial status, current and potential revenue streams, fan base, stadium situation, and any other relevant factors. It's important to perform due diligence to assess the club's viability and potential for growth.
Contacting the Club: Reach out to the club's current ownership or relevant stakeholders to express your interest in purchasing the club. This could involve contacting the board of directors, majority shareholders, or any appointed representatives. Establishing open lines of communication is essential for progressing further.
Negotiation and Agreement: Once your interest is known, negotiations begin. This stage involves discussing the terms of the purchase, including the sale price, any outstanding debts or obligations, and the transfer of assets such as player contracts, branding rights, and other club-related properties. Engage in thorough negotiations to reach a mutually acceptable agreement.
Legal and Financial Due Diligence: Engage professionals such as lawyers, accountants, and financial advisors to conduct a detailed analysis of the club's legal and financial affairs. This process ensures that there are no hidden liabilities, pending legal issues, or financial irregularities that could impact the purchase. It's crucial to have a clear understanding of the club's financial health before proceeding.
Contracts and Documentation: Once the negotiations are finalized and due diligence is completed, formalize the purchase through legally binding contracts. These contracts outline the terms and conditions of the purchase, including payment structure, transfer of assets, and any other pertinent agreements. Engage legal experts experienced in sports club acquisitions to ensure compliance with relevant regulations and laws.
Regulatory Approvals: Rugby league clubs in the U.K. are subject to specific regulations and governance by organizations like the Rugby Football League (RFL) or Super League Europe. Obtain the necessary regulatory approvals from these bodies to ensure compliance and legitimacy of the purchase.
Transfer of Ownership: Once all legal and regulatory requirements are fulfilled, the transfer of ownership takes place. This involves the formal transfer of shares, assets, and control of the club to the new owner or ownership group.
Transition and Integration: After the purchase is complete, you will need to manage the transition process. This includes introducing yourself to the staff, players, and fans, and ensuring a smooth transfer of management and operations. Develop a strategic plan for the club's future, which may include investments in infrastructure, marketing, player recruitment, and other areas aimed at growing the club's success.
It's important to note that buying a professional rugby league club can be a complex and intricate process. Engaging professional advisors who are experienced in sports club acquisitions is highly recommended to navigate the process smoothly and ensure compliance with all relevant regulations.

There is an equally long list for selling a club.

We are unfortunately going to have to be patient and wait to see how those steps pan out.
As I understand it they are only in the first steps not the last steps.

God forbid any of Ellis's people look at this. Who'd want to take on a club where the supposed fans want to try and criticise every decision, or in fact make things up, just to make the board look bad.

What an amazing thread… I’m doing a lot of driving at the moment… so having worked through the (unabridged) Anna Karenina … on audio book … which show my patience at least… I am almost through George Orwell’s 1984… and I’m sure this thread is a direct extract penned by Orwell himself…

Rife with Double-speak… (the ability to hold two conflicting arguments as absolute truth…) misinformation and gas lighting… full of self serving agendas… wow..

On the subject… having watched a previous owner give the club away to a ‘false’ god (who apparently disappeared to Amsterdam) without the appropriate checks and balances… and guarantees… I am happy for the current custodians to take as much time as necessary…

The ‘club’ is more important than its people (substitute ‘party’ in 1984!!)

Hope it all goes well

ChatGPT is a fantastic thing, I wonder if AI would run Wakefield Trinity better than previous owners & CEOs

Here’s my answer on how to buy a pro Rugby League Club in the UK

The process for buying a professional rugby league club in the UK can vary depending on the specific circumstances and the league in which the club operates. However, here are some general steps that are typically involved:

Research and Evaluation: Begin by conducting thorough research on the available rugby league clubs in the UK. Evaluate the clubs based on various factors such as their financial stability, fan base, history, current performance, and potential for growth.
Financial Planning: Determine your financial capacity and develop a business plan for the acquisition. Assess the costs involved, including the purchase price of the club, any outstanding debts, player contracts, stadium costs, and ongoing operational expenses.
Identify Potential Clubs: Narrow down your choices and identify specific rugby league clubs that you are interested in acquiring. Contact the clubs or their representatives to express your interest and initiate discussions.
Due Diligence: Perform due diligence on the club you intend to buy. This process involves a thorough investigation of the club's finances, legal obligations, player contracts, and any other relevant aspects. Engage professionals such as lawyers and accountants to assist you in this stage.
Negotiation and Agreement: Once you have completed the due diligence process and are satisfied with the results, enter into negotiations with the current club owners. Discuss the terms of the acquisition, including the purchase price, payment structure, and any additional conditions.
Legal and Administrative Procedures: Engage legal counsel to draft the necessary legal documents, such as the purchase agreement and shareholder agreements. Complete any administrative procedures required by the relevant league or governing bodies.
Financing and Funding: Arrange the necessary financing for the acquisition. This may involve personal funds, bank loans, investment partners, or a combination of sources.
Club Takeover: Once all the agreements are signed and financing is in place, proceed with the club takeover. This may involve transferring ownership of shares, assuming control of operations, and addressing any outstanding obligations.
Transition and Management:Implement your business plan and begin managing the club's operations. This includes overseeing player recruitment, team management, marketing, and other aspects of running a professional rugby league club.
It's important to note that the process can be complex and may vary depending on the specific circumstances and the league in which the club operates. It is advisable to seek professional advice and guidance throughout the acquisition process to ensure a smooth and successful purchase.

Probably fair to say that over 95% of people on this forum have not run a business, not been a director, a company shareholder, employer or sat in on board meetings, not to mention not being present at any of the meetings held so far.
Why they think they know what has gone on, been said or is happening is beyond me. Get back to fantasy island, shut the f#ck up and let things evolve. If you want the baddies out of town, let the goodies do their stuff and just play nicely meanwhile.

I think some are missing the point.
There is as much due diligence needed for the seller as the buyer.

Exactly Manuel

Yes

This thread has a number of examples of the Dunning-Kruger effect.

My earlier answer was correctly identified as one taken directly from a well known AI program then used as a template ….

That not only applies to over confidence about knowledge of buying and selling a sports club but also coaching a super league team, building a stadium, running a sports club, contract negotiations and general accountancy.

To be honest, if we could get a political party setup from this forum we'd be out of the recession tomorrow and leading the 'free world'

There really isn't - seller simply needs to sign a few forms. Buyer would normally want to do DD to find any "skeletons" and get warranties and indemnities from sellers. Still important info for whoever is taking over but understandably unlikely to get any warranties and indemnities from MC.

Beg to differ RWB. Buyers need to be deemed fit - even if it's for £1 you still need to be fit to take on the legacy. The truth is that there is a whole raft of potential connotations from selling (passing on) a club to a new owner (custodian) and it's not that easy.

You are taking on a legacy in taking on a club. You are taking on countless family incomes, and the supply chain that services them and beyond.

Agree to an extent BSC - but think that is RFL's role in approving any change in ownership. From MC's point of view as an exiting shareholder of a Ltd Co, there's nothing really is there? Fair enough check the new guy has sufficient brass to take on the debts etc but he can walk away pretty quickly and cleanly if he wanted. In terms of supply chain, current commitments - they remain with the company.