This doesn't seem to match up to what happened in the past. He's often been a director of shareholder which isn't what you'd expect to see from a lawyer acting in a professional advisory role.Top Claret wrote: ↑Sat Oct 31, 2020 11:21 amI know little about the Egyptian guy, only of what I read on line from an article back in 2014. The antics of the lawyer who was only doing his job have little concern to me.
What does concern me though is ALK Capital who I believe or an investment company. ALK sound dodgy with the main players being able to protect themselves from a financial loss by passing on the burden to other investors who have jumped on board.
Once investors realise that they aren't going to get a good return, they will pull out and leave the club with no working capital and massive debt
ALK Capital or Farnell/Elkashashy takeover
Re: ALK Capital or Farnell/Elkashashy takeover
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Re: ALK Capital or Farnell/Elkashashy takeover
After today I think their offers will have been rescinded if they’ve any sense. If they haven’t Garlick and his Merry men will snap their hands off and run!!
Re: ALK Capital or Farnell/Elkashashy takeover
I thought the same - would anyone seriously consider paying £200m for a club seemingly in trouble on and off the field in such worrying/uncertain times!? Could quite easily see any potential deal falling through at this rate.
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Re: ALK Capital or Farnell/Elkashashy takeover
If the suggestions these talks have been going on for well over a year (do they communicate via carrier pigeon!?)why on earth would they walk away now!
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Re: ALK Capital or Farnell/Elkashashy takeover
Because quite possibly the value of the investment might be diminishing.Steve-Harpers-perm wrote: ↑Sat Oct 31, 2020 5:29 pmIf the suggestions these talks have been going on for well over a year (do they communicate via carrier pigeon!?)why on earth would they walk away now!
Re: ALK Capital or Farnell/Elkashashy takeover
Exactly. Nobody is even sure if the season will be completed at this stage.Jakubclaret wrote: ↑Sat Oct 31, 2020 5:33 pmBecause quite possibly the value of the investment might be diminishing.
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Re: ALK Capital or Farnell/Elkashashy takeover
please try to not ruin yet another thread
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Re: ALK Capital or Farnell/Elkashashy takeover
Not sure if you’re referring to me, and I don’t intend to ruin a thread. I do think it’s perfectly reasonable to point out how petty and vitriolic it is to repeatedly refer to our chairman as Fat Mike.
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Re: ALK Capital or Farnell/Elkashashy takeover
I wasn't Riley and you are correct
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Re: ALK Capital or Farnell/Elkashashy takeover
After today the sooner the better.
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Re: ALK Capital or Farnell/Elkashashy takeover
I was astonished at the actual question hence replying even though it wasn’t direct, if anything substantially changes or certainly shows signs that it could, of course it’s loses value & becomes less attractive.
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Re: ALK Capital or Farnell/Elkashashy takeover
I don't know if I've got these facts right, but hasn't it been said that the Egyptian guy and the lawyer we claiming they'd bought Charlton earlier this summer? Similarly, wasn't Alan Pace linked with Sheff Utd, or was it Barnsley, or another team last autumn?Steve-Harpers-perm wrote: ↑Sat Oct 31, 2020 5:29 pmIf the suggestions these talks have been going on for well over a year (do they communicate via carrier pigeon!?)why on earth would they walk away now!
I guess it's possible that both these potential new investors had been in contact with Mike Garlick 12 months ago. However, I can't see them making bids to buy the club back then - not when they were possibly conflicted by bidding to buy two other clubs.
Takeover activity is complicated. Discussions and serious negotiations can and often do extend over several months - and end up with no deal being completed.
The final value of a deal can be contingent on a "work out." For example, we will buy your business for £X and (for a commercial business) if the business earns profits exceeding £Y in the following year/or other period, we will pay an additional amount of £z.
Maybe similar discussions are ongoing between MG's representatives and the prospective new investors. (If not, I'm happy to get involved - on the "standard terms" - and advise on steps to get this to a satisfactory conclusion.
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Re: ALK Capital or Farnell/Elkashashy takeover
Maybe why the 60 million is 'deferred' with the egyptian bid ?
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Re: ALK Capital...
Yes, that’s the best way to make money.dandeclaret wrote: ↑Fri Oct 30, 2020 7:56 amWhere is the evidence they are asset strippers?
If they are paying £200m, what margin do
You think there is in asset stripping the club?
Do asset strippers often take over a healthy business to strip it down?
PCC have done it successfully for years.
I used to dread them taking over our good suppliers, which they did frequently.
Re: ALK Capital or Farnell/Elkashashy takeover
A positive story from the Bury saga re farnell
https://www.mirror.co.uk/sport/football ... r-22938435
https://www.mirror.co.uk/sport/football ... r-22938435
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Re: ALK Capital or Farnell/Elkashashy takeover
Burnley FC is an absolute bargain at £200m for a Premier league club with lots of assets and no debts
I am surprised it's not attracted more bidders
I am surprised it's not attracted more bidders
Re: ALK Capital or Farnell/Elkashashy takeover
I'm not sure I would use the words "I'd trust him with my life" if I'd simply been asked about comment on a football lawyer (to whom I owed nothing) who I'd done some prior business with. Interesting he was also the one who brought Farnell on board in the first place - it would obviously be in his interest therefore to show he had been a success.Grumps wrote: ↑Sun Nov 01, 2020 5:10 amA positive story from the Bury saga re farnell
https://www.mirror.co.uk/sport/football ... r-22938435
Re: ALK Capital or Farnell/Elkashashy takeover
So do you think he's telling porkies?bennitor wrote: ↑Sun Nov 01, 2020 8:03 amI'm not sure I would use the words "I'd trust him with my life" if I'd simply been asked about comment on a football lawyer (to whom I owed nothing) who I'd done some prior business with. Interesting he was also the one who brought Farnell on board in the first place - it would obviously be in his interest therefore to show he had been a success.
Re: ALK Capital or Farnell/Elkashashy takeover
That's a bit over the top for me.Grumps wrote: ↑Sun Nov 01, 2020 5:10 amA positive story from the Bury saga re farnell
https://www.mirror.co.uk/sport/football ... r-22938435
Seems a bit like Farnell needed some good publicity and called in a favour. Doesnt seem very authentic to me, a little staged shall we say.
I could be wrong though
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Re: ALK Capital or Farnell/Elkashashy takeover
Not sure even the takeover will come in time to save us now, we are always told January is hard to get incomings, the fees are higher, takes time to integrate them, who wants to join a ship wreck unless the numbers are silly.
The damage was being done a couple of windows ago, and this summer was hust pure neglect.
People kept mentioning we could be the next X, Y or Z club for spending money, however the path we have taken now means we could end up far worse than spending a few quid freshening up the squad should the takeover not happen and/or we go down.
I heard yesterday we have 10 players OOC in the summer, and you can add Tary to the departures too before then, and that's even if we stay up!
Massive rebuild needed, but most people saw this 2 years ago.
The damage was being done a couple of windows ago, and this summer was hust pure neglect.
People kept mentioning we could be the next X, Y or Z club for spending money, however the path we have taken now means we could end up far worse than spending a few quid freshening up the squad should the takeover not happen and/or we go down.
I heard yesterday we have 10 players OOC in the summer, and you can add Tary to the departures too before then, and that's even if we stay up!
Massive rebuild needed, but most people saw this 2 years ago.
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Re: ALK Capital or Farnell/Elkashashy takeover
He's been asked the question and answered it.
Not sure he needs any good publicity, if they are going to buy the club, they will, doesn't matter what the fans think
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Re: ALK Capital or Farnell/Elkashashy takeover
If there's lots of money available for transfers then I can't see them keeping Dyche, it's not his strength.MACCA wrote: ↑Sun Nov 01, 2020 8:55 amNot sure even the takeover will come in time to save us now, we are always told January is hard to get incomings, the fees are higher, takes time to integrate them, who wants to join a ship wreck unless the numbers are silly.
The damage was being done a couple of windows ago, and this summer was hust pure neglect.
People kept mentioning we could be the next X, Y or Z club for spending money, however the path we have taken now means we could end up far worse than spending a few quid freshening up the squad should the takeover not happen and/or we go down.
I heard yesterday we have 10 players OOC in the summer, and you can add Tary to the departures too before then, and that's even if we stay up!
Massive rebuild needed, but most people saw this 2 years ago.
He's bought 5 players over 10m with only Wood being a success.(I haven't included Jay Rod as I don't know the terms for the 2nd 5m installment or if we have paid it)
Re: ALK Capital or Farnell/Elkashashy takeover
Edit - Duplicate
Last edited by MACCA on Sun Nov 01, 2020 9:26 am, edited 1 time in total.
Re: ALK Capital or Farnell/Elkashashy takeover
Mirror article:
Burnley fans have been told controversial sports lawyer Chris Farnell is the right man to take them forward in a proposed £200million takeover.
And Scott Johnson, at the heart of the battle to save Bury FC from extinction, believes fans should be embracing Farnell's involvement with Egyptian businessman Mohamed Elkashashy - not fearing it.
Farnell was criticised for trying to help save Bury FC after being asked by Johnson, general manager at Gigg Lane, to help out.
Johnson insists only incompetence by the EFL and meddling by owner Steve Dale were to blame for the club’s demise – not Farnell.
Cheshire-based lawyer Farnell was handed a ban by the EFL earlier this year which prevented him from owning a club after an attempted takeover at Charlton with Manchester businessman Paul Elliot.
Farnell appealed and the ban was subsequently overturned – and Johnson insists he's got the connections to be a huge asset to Burnley.
He says: “It’s time for the truth. I’ve sat back and read some of the social media rubbish by people with agendas and it’s out of order.
“Burnley fans need to ignore these keyboard warriors who seem to think it is okay to peddle half truths and lies.
“I asked Chris to help us at Bury because I knew he was vastly experienced and had many, many contacts in football.
“He was there whenever we needed him, he didn’t ask for a penny and did everything he could to save the club.
“In the end, we had three bids on the table - all before the deadline - and yet for some reason they weren’t considered by the EFL.
“It is nonsense to suggest Chris tried to sell the club to a Brazilian pastor like it was some half-baked plan!
“The bid was genuine, funds had been proved and the bid came from a close friend of our goalkeeping coach, not Chris who proved to be a wealth of knowledge and never once asked for payment.
“I would trust him with my life and Burnley FC have nothing to worry about.”
Farnell and partner Elkashashy are awaiting Premier League approval to complete a £200m takeover at Burnley FC after agreeing to buy the Turf Moor club.
“Burnley fans should be delighted,” Johnson added. “This is a huge investment and they're bringing football contacts, knowledge and expertise. Exciting times lie ahead for Burnley.
“And I'm certain he'll be a huge asset to Sean Dyche when it comes to signing players.
Burnley fans have been told controversial sports lawyer Chris Farnell is the right man to take them forward in a proposed £200million takeover.
And Scott Johnson, at the heart of the battle to save Bury FC from extinction, believes fans should be embracing Farnell's involvement with Egyptian businessman Mohamed Elkashashy - not fearing it.
Farnell was criticised for trying to help save Bury FC after being asked by Johnson, general manager at Gigg Lane, to help out.
Johnson insists only incompetence by the EFL and meddling by owner Steve Dale were to blame for the club’s demise – not Farnell.
Cheshire-based lawyer Farnell was handed a ban by the EFL earlier this year which prevented him from owning a club after an attempted takeover at Charlton with Manchester businessman Paul Elliot.
Farnell appealed and the ban was subsequently overturned – and Johnson insists he's got the connections to be a huge asset to Burnley.
He says: “It’s time for the truth. I’ve sat back and read some of the social media rubbish by people with agendas and it’s out of order.
“Burnley fans need to ignore these keyboard warriors who seem to think it is okay to peddle half truths and lies.
“I asked Chris to help us at Bury because I knew he was vastly experienced and had many, many contacts in football.
“He was there whenever we needed him, he didn’t ask for a penny and did everything he could to save the club.
“In the end, we had three bids on the table - all before the deadline - and yet for some reason they weren’t considered by the EFL.
“It is nonsense to suggest Chris tried to sell the club to a Brazilian pastor like it was some half-baked plan!
“The bid was genuine, funds had been proved and the bid came from a close friend of our goalkeeping coach, not Chris who proved to be a wealth of knowledge and never once asked for payment.
“I would trust him with my life and Burnley FC have nothing to worry about.”
Farnell and partner Elkashashy are awaiting Premier League approval to complete a £200m takeover at Burnley FC after agreeing to buy the Turf Moor club.
“Burnley fans should be delighted,” Johnson added. “This is a huge investment and they're bringing football contacts, knowledge and expertise. Exciting times lie ahead for Burnley.
“And I'm certain he'll be a huge asset to Sean Dyche when it comes to signing players.
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Re: ALK Capital or Farnell/Elkashashy takeover
So do we have anyone to second what’s stated in the report, that we are merely awaiting Premier League ratification on the deal of a £200m takeover.
Re: ALK Capital or Farnell/Elkashashy takeover
He's 100% the right man should we go down, however the question will beQuickenthetempo wrote: ↑Sun Nov 01, 2020 9:07 amIf there's lots of money available for transfers then I can't see them keeping Dyche, it's not his strength.
He's bought 5 players over 10m with only Wood being a success.(I haven't included Jay Rod as I don't know the terms for the 2nd 5m installment or if we have paid it)
A. Will he want to stay and do it all again
B. Could a Crystal Palace type side come in for him ( possibly even a better equipped championship side located nearee his family home might take his fancy )
C. It will be a major overhaul for SD or a new man with 10 new players needed, and possibly 6 of those needing to be 1st team players.
I can only see
Mee Captain, no other takers from prem clubs
Westwood as above
Cork as above
Jay as above
Brownhill should excell in the championship and probably not done enough for a prem club to rush in for him.
The rest are either saleable assets, will be wanted by other clubs in the prem, OOC or not good enough.
If forward planning and cherry picking the better championship players was impossible for the last few windows whilst in the premier league, I'm stump at what our plan would be for when we went down.
( although we are told theres a plan in place, and we would be in the best possible position to bounce straight back )
Re: ALK Capital or Farnell/Elkashashy takeover
How does he know this is a 'huge investment'?HahaYeah wrote: ↑Sun Nov 01, 2020 9:25 amMirror article:
Farnell and partner Elkashashy are awaiting Premier League approval to complete a £200m takeover at Burnley FC after agreeing to buy the Turf Moor club.
“Burnley fans should be delighted,” Johnson added. “This is a huge investment and they're bringing football contacts, knowledge and expertise. Exciting times lie ahead for Burnley.
“And I'm certain he'll be a huge asset to Sean Dyche when it comes to signing players.
They are buying the club for £200 million but that in itself is not an investment into the club surely. I presume they are buying the existing shares, or some of them, and that money goes to the shareholders. What will this investment be?
My thinking is that if they are investors they want a return from the money they put in (other wise why not just buy some shares etc.). They are not some charitable organisation. They will surely cause additional running costs to the club (perhaps director salaries, dividend payments, possible loan interest) so that will have to be covered by profits over and above what we've been making up to now just to break even. Unless they've got some sources that will conjure up money from promotions that our current board can't, how will they do this?
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Re: ALK Capital or Farnell/Elkashashy takeover
I don’t think Dyche would have lasted under many other regimes with some of his bad patches.
If we get relegated then Dyche is the perfect man to bring us back up. He will bring in seasoned pros to get the job done. If we somehow scrape survival then we should be looking for a change of direction on the managers front. Dyche isn’t capable of a complete squad rebuild in this league. We would waste a fortune on over priced 30 somethings.
If we get relegated then Dyche is the perfect man to bring us back up. He will bring in seasoned pros to get the job done. If we somehow scrape survival then we should be looking for a change of direction on the managers front. Dyche isn’t capable of a complete squad rebuild in this league. We would waste a fortune on over priced 30 somethings.
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Re: ALK Capital or Farnell/Elkashashy takeover
MACCA wrote: ↑Sun Nov 01, 2020 8:55 amNot sure even the takeover will come in time to save us now, we are always told January is hard to get incomings, the fees are higher, takes time to integrate them, who wants to join a ship wreck unless the numbers are silly.
The damage was being done a couple of windows ago, and this summer was hust pure neglect.
People kept mentioning we could be the next X, Y or Z club for spending money, however the path we have taken now means we could end up far worse than spending a few quid freshening up the squad should the takeover not happen and/or we go down.
I heard yesterday we have 10 players OOC in the summer, and you can add Tary to the departures too before then, and that's even if we stay up!
Massive rebuild needed, but most people saw this 2 years ago.
I certainly did but was constantly put down by the usual suspects on here including TS
Re: ALK Capital or Farnell/Elkashashy takeover
Right_winger wrote: ↑Sun Nov 01, 2020 10:01 amI don’t think Dyche would have lasted under many other regimes with some of his bad patches.
If we get relegated then Dyche is the perfect man to bring us back up. He will bring in seasoned pros to get the job done. If we somehow scrape survival then we should be looking for a change of direction on the managers front. Dyche isn’t capable of a complete squad rebuild in this league. We would waste a fortune on over priced 30 somethings.
Dyche's first game team: Grant, Edgar, Shackell, Duff, Tripier, Mee, Wallace, Marney, Stock, Paterson, Austin. Subs: Ings, Stanislav, Vokes, Lafferty D, Jensen, Stewart, Long K.
And yesterday: Pope, Lowton, Long, Tarkowski, Taylor, Brownhill, Westwood, Stephens, McNeil, Wood, Barnes. Subs: Brady, Peacock-Farell, Rodriquez, Vydra, Thompson, Dunne, Richardson.
You may nit pick that it wasn't in 'this league' but I think the point is obvious.
Last edited by Hipper on Sun Nov 01, 2020 10:20 am, edited 1 time in total.
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Re: ALK Capital or Farnell/Elkashashy takeover
Phil Jones is worried that the impeding takeover will put pay to his January move here.
I'm sure DanielJwaterhouse called this move in August. Man knows his onions yet still gets pelters on here
I'm sure DanielJwaterhouse called this move in August. Man knows his onions yet still gets pelters on here
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Re: ALK Capital or Farnell/Elkashashy takeover
Think you’ve missed the point. After 8 years a squad is obviously going to look different. Doing it over 1 window at once? Have a think. We will get filled up with players like Walters and Wells.Hipper wrote: ↑Sun Nov 01, 2020 10:18 amDyche's first game team: Grant, Edgar, Shackell, Duff, Tripier, Mee, Wallace, Marney, Stock, Paterson, Austin. Subs: Ings, Stanislav, Vokes, Lafferty D, Jensen, Stewart, Long K.
And yesterday: Pope, Lowton, Long, Tarkowski, Taylor, Brownhill, Westwood, Stephens, McNeil, Wood, Barnes. Subs: Brady, Peacock-Farell, Rodriquez, Vydra, Thompson, Dunne, Richardson.
You may nit pick that it wasn't in 'this league' but I think the point is obvious.
Re: ALK Capital or Farnell/Elkashashy takeover
Maybe. Which club or manager has managed to change a complete team over night?Right_winger wrote: ↑Sun Nov 01, 2020 10:28 amThink you’ve missed the point. After 8 years a squad is obviously going to look different. Doing it over 1 window at once? Have a think. We will get filled up with players like Walters and Wells.
Re: ALK Capital or Farnell/Elkashashy takeover
To be fair, Dyche’s transfers would likely have looked very different had more money been available to him. Some of the last links (if there was any truth in them) suggest as much.Right_winger wrote: ↑Sun Nov 01, 2020 10:28 amThink you’ve missed the point. After 8 years a squad is obviously going to look different. Doing it over 1 window at once? Have a think. We will get filled up with players like Walters and Wells.
I think it’s unfair to say that a moneyed Dyche would still have sought the same filler type players as the one working within a very tight budget.
Re: ALK Capital or Farnell/Elkashashy takeover
Our bench was stronger 8 years ago.....
Re: ALK Capital or Farnell/Elkashashy takeover
I thought MG wanted to bring in Harry Wilson, but Dyche wanted to bring in Dale Stevens?
Whoever takes over, I wouldn’t put Dyche in charge of player recruitment any longer.
Whoever takes over, I wouldn’t put Dyche in charge of player recruitment any longer.
Last edited by Steddyman on Sun Nov 01, 2020 12:26 pm, edited 1 time in total.
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Re: ALK Capital or Farnell/Elkashashy takeover
Dyche isn't in charge of it anyway.
He picks a list, gives it to chairman.
I would like to state though that when a chairman is choosing the signings and not Dyche then it's time for one of them to leave.
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Re: ALK Capital or Farnell/Elkashashy takeover
Why would Garlick want to shell out 14 million for Wilson when he is about to sell his shares? Makes no sense at all.
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Re: ALK Capital or Farnell/Elkashashy takeover
That’s what I thought when I read it.
Probably helped Bury out tbf and then asked them to give him a character reference.
Can imagine this Farnell chap is one of the folks the journalists tap up for information, so they probably owe him a few positive articles.
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Re: ALK Capital or Farnell/Elkashashy takeover
It's fair to say that if Dyche would have had a bigger war chest over several windows , today's starting 11, the bench and the squad as a whole, wood look very different now.
He didn't.........
He didn't.........
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Re: ALK Capital or Farnell/Elkashashy takeover
I agree.Woodleyclaret wrote: ↑Sun Nov 01, 2020 6:39 amBurnley FC is an absolute bargain at £200m for a Premier league club with lots of assets and no debts
I am surprised it's not attracted more bidders
Although in reality we know very little about the funding of either bid, I’m disappointed that an existing PL club, well run with no debt, and the longest serving manager (stability), would not attract more wealthy bidders.
Re: ALK Capital or Farnell/Elkashashy takeover
According to Charlton fans he uses nixon when he wants something in the paper.NewClaret wrote: ↑Sun Nov 01, 2020 11:38 amThat’s what I thought when I read it.
Probably helped Bury out tbf and then asked them to give him a character reference.
Can imagine this Farnell chap is one of the folks the journalists tap up for information, so they probably owe him a few positive articles.
Some people won't accept anything positive about him, minds have already been made up.
Re: ALK Capital or Farnell/Elkashashy takeover
There were people on here who are not gossip mongers and are usually in the know stating this was the case.Steve-Harpers-perm wrote: ↑Sun Nov 01, 2020 11:19 amWhy would Garlick want to shell out 14 million for Wilson when he is about to sell his shares? Makes no sense at all.