ALK Capital or Farnell/Elkashashy takeover

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by jedi_master » Wed Oct 20, 2021 2:15 pm

daveisaclaret wrote:
Wed Oct 20, 2021 2:12 pm
Then again I doubt he will ever be mentioned in the same sentence as BFC again after today
This thought crossed my mind.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Lancasterclaret » Wed Oct 20, 2021 2:19 pm

daveisaclaret wrote:
Wed Oct 20, 2021 2:12 pm
Could be much worse I agree. But still a little bit dodgy.

Then again I doubt he will ever be mentioned in the same sentence as BFC again after today
Oh, I'm not trivialising it Dave

ALK seem to be doing a lot of things right, so I'm happy enough with them but your post does highlight issues with investors that football fans tend to ignore as long as they have got cash

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Tall Paul » Wed Oct 20, 2021 2:21 pm

Newcastle's new owners might have unlimited money, but I bet they've never won the Superbowl.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by claretonthecoast1882 » Wed Oct 20, 2021 2:24 pm

Might pave the way for NFL games here and who knows maybe even a Mardi Gras parade under the Culvert

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Re: Malcom Jenkins and ALK finance

Post by MACCA » Wed Oct 20, 2021 2:26 pm

Iloveyoubrady wrote:
Wed Oct 20, 2021 1:55 pm
Seems interesting. Don’t quite know what he is bringing to the table though. A net worth of less than £100M apparently which isn’t a lot in football but we will see what happens next.
$93m, so about 60m pounds.
That's his worth, take out his properties, cars, businesses and he probably doesn't even have 20m in the bank.

He won't be putting his own money in for player sales, more likely lending some cash/capital for a nice return.

Although ALK might see his profile as a way of tapping into the American markets and/or seek further investment from American Football owners/fans/players.

We will see what he brings or what the ALK plan is over the next 12 months and the next 2 transfer windows.

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Malcolm Jenkins

Post by steve_f » Wed Oct 20, 2021 2:40 pm


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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Vegas Claret » Wed Oct 20, 2021 2:45 pm

Tall Paul wrote:
Wed Oct 20, 2021 2:21 pm
Newcastle's new owners might have unlimited money, but I bet they've never won the Superbowl.
:lol: :lol: :lol:

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Paul Waine » Wed Oct 20, 2021 2:49 pm

aggi wrote:
Wed Oct 20, 2021 12:17 pm
On other revenue, this was helpfully posted today by PriceofFootball in the context of Newcatle

Image

We can clearly improve on our current position but , discounting the biggest clubs, there doesn't seem to be huge money to be exploited in this area.
So, what do Burnley need to do to match, for example, Brighton? That would near enough double commercial revenues.

UTC

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Paul Waine » Wed Oct 20, 2021 2:59 pm

So, way, way back in this thread, I'm sure there was discussion of ALK Capital's model. Alan Pace set up ALK as an investment vehicle. He'd previously had a role with Citigroup which involved him dealing with a number of "high net worth" individuals. He'd also previously been involved in sports management and had a relationship with Dave Checketts who also has significant experience in sports management. Both Alan Pace and Dave Checketts are members of Church of Latter Day Saints. Checketts has prior to joining Burnley board of directors been the head of LDS mission in England.

Today we see the announcement of a US sportsman taking a minority investment in ALK - welcome Malcolm Jenkins.

There may well be other new minority investors also joining ALK - including some who have ticked the "no publicity" box.

I see this as the way that ALK are adding to their investment in Burnley - raising new capital by adding new minority investors.

Exciting times.

UTC
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Re: NNN Podcast

Post by dsr » Wed Oct 20, 2021 3:03 pm

Father Jack wrote:
Wed Oct 20, 2021 6:37 am
“I thought rather innocently, that they were paying for it themselves and not putting the impetus on the club which worries me a lot.”

I assume there would be an NDA in place but even so I’m surprised that one of the major departing shareholders wouldn’t be made aware of the impending debt that was going to be placed on the club.

Are buyers duty bound to reveal the source of funds?
Would Mike and John B have known?
Just to come back to this, yes they would certainly have known. You don't sell a car without seeing the buyer's funds first, you don't sell a house until the solicitor has seen the buyer's funds; you certainly don't sell £150m of shares without asking how they will be paid for.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by aggi » Wed Oct 20, 2021 3:09 pm

Paul Waine wrote:
Wed Oct 20, 2021 2:49 pm
So, what do Burnley need to do to match, for example, Brighton? That would near enough double commercial revenues.

UTC
Own a load of land to use for residential and commercial development (they may also need to relocate to somewhere with more demand for such things) and have a big sponsorship deal for the naming rights for the ground, etc

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Re: NNN Podcast

Post by ClaretTony » Wed Oct 20, 2021 3:10 pm

dsr wrote:
Wed Oct 20, 2021 3:03 pm
Just to come back to this, yes they would certainly have known. You don't sell a car without seeing the buyer's funds first, you don't sell a house until the solicitor has seen the buyer's funds; you certainly don't sell £150m of shares without asking how they will be paid for.
I think you might find that they didn’t know

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by aggi » Wed Oct 20, 2021 3:11 pm

KRBFC wrote:
Wed Oct 20, 2021 1:26 pm
So there could be some real money men in the shadows who have remained anonymous for whatever reason? Would they invest money without receiving shares in their name?
There are many people out there who want to grow their money without worrying about the day to day issues. Just look at all the hedge funds, private equity, etc.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Lancasterclaret » Wed Oct 20, 2021 3:13 pm

Quick question

is it possible for these small investors to demand their money out of the company straight away ie in event of relegation?

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Re: NNN Podcast

Post by Paul Waine » Wed Oct 20, 2021 3:15 pm

dsr wrote:
Wed Oct 20, 2021 3:03 pm
Just to come back to this, yes they would certainly have known. You don't sell a car without seeing the buyer's funds first, you don't sell a house until the solicitor has seen the buyer's funds; you certainly don't sell £150m of shares without asking how they will be paid for.
And, you aren't able to borrow £60 million from an experienced lender if you can't demonstrate you have a viable business plan.

Today's announcement of Malcolm Jenkins investing in Burnley (BBC) via a minority stake in ALK is one public example of ALK's business plan.

Yes, of course, Mike Garlick and John B would have known that Alan Pace has a solid business plan. Why on earth would they sell their shares to them, including allowing ALK to pay part of the agreed amount in instalments, if they didn't believe that ALK had a credible plan that would enable them to meet those instalments?

Exciting times.

UTC

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Paul Waine » Wed Oct 20, 2021 3:20 pm

Lancasterclaret wrote:
Wed Oct 20, 2021 3:13 pm
Quick question

is it possible for these small investors to demand their money out of the company straight away ie in event of relegation?
No. If you are an investor you buy shares. If you buy shares you can only receive dividends if profits have been made. (It may also be that there ae covenants with MSD that limits/forbids dividends until MSD have been repaid). You only get your money out if someone else buys your shares and puts their money in, instead.

UTC
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Paul Waine » Wed Oct 20, 2021 3:22 pm

aggi wrote:
Wed Oct 20, 2021 3:09 pm
Own a load of land to use for residential and commercial development (they may also need to relocate to somewhere with more demand for such things) and have a big sponsorship deal for the naming rights for the ground, etc
So, some of Brighton's commercial revenue is a "one off" - from sale of land surplus to the club's own needs?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by GodIsADeeJay81 » Wed Oct 20, 2021 3:36 pm

Paul Waine wrote:
Wed Oct 20, 2021 2:49 pm
So, what do Burnley need to do to match, for example, Brighton? That would near enough double commercial revenues.

UTC
Lobby Ikea so they build a superstore next to TM :lol:

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Re: NNN Podcast

Post by Winstonswhite » Wed Oct 20, 2021 3:41 pm

Paul Waine wrote:
Wed Oct 20, 2021 3:15 pm
And, you aren't able to borrow £60 million from an experienced lender if you can't demonstrate you have a viable business plan.

Today's announcement of Malcolm Jenkins investing in Burnley (BBC) via a minority stake in ALK is one public example of ALK's business plan.

Yes, of course, Mike Garlick and John B would have known that Alan Pace has a solid business plan. Why on earth would they sell their shares to them, including allowing ALK to pay part of the agreed amount in instalments, if they didn't believe that ALK had a credible plan that would enable them to meet those instalments?

Exciting times.

UTC
They could have agreed to sell the shares to ALK for x amount of pounds and if they don’t keep up with the repayments then those shares get returned to Garlick and John B. If that was the case then it wouldn’t have mattered a jot what ALKs plan was.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by gawthorpe_view » Wed Oct 20, 2021 3:43 pm

So could Malcom Jenkins and others, be buying, indirectly, the 6% of shares currently under offer by the club?
Feasible if you don't want to issue new shares.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by aggi » Wed Oct 20, 2021 3:48 pm

gawthorpe_view wrote:
Wed Oct 20, 2021 3:43 pm
So could Malcom Jenkins and others, be buying, indirectly, the 6% of shares currently under offer by the club?
Feasible if you don't want to issue new shares.
No. THey're buying into one of the overseas enitities that ultimately owns the club.
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Re: NNN Podcast

Post by ClaretTony » Wed Oct 20, 2021 3:49 pm

Winstonswhite wrote:
Wed Oct 20, 2021 3:41 pm
They could have agreed to sell the shares to ALK for x amount of pounds and if they don’t keep up with the repayments then those shares get returned to Garlick and John B. If that was the case then it wouldn’t have mattered a jot what ALKs plan was.
That's what was made public, that the previous directors get control back should they default on payments.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by aggi » Wed Oct 20, 2021 3:50 pm

Lancasterclaret wrote:
Wed Oct 20, 2021 3:13 pm
Quick question

is it possible for these small investors to demand their money out of the company straight away ie in event of relegation?
It's possible but unlikely. The deal may have been structured that way but unless ALK were totally desperate or naive then I can't see it being likely.

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Re: NNN Podcast

Post by ewanrob » Wed Oct 20, 2021 3:51 pm

ClaretTony wrote:
Wed Oct 20, 2021 3:10 pm
I think you might find that they didn’t know
That's staggering, what about their legal teams!

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by aggi » Wed Oct 20, 2021 3:52 pm

Paul Waine wrote:
Wed Oct 20, 2021 3:22 pm
So, some of Brighton's commercial revenue is a "one off" - from sale of land surplus to the club's own needs?
I haven't looked into it too deeply. I'm not sure if they're selling the land or acting as the developer. Probably mainly one-off though (otherwise IKEA's announcement that they aren't building a store there after all may cost them).

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Re: NNN Podcast

Post by Paul Waine » Wed Oct 20, 2021 3:53 pm

Winstonswhite wrote:
Wed Oct 20, 2021 3:41 pm
They could have agreed to sell the shares to ALK for x amount of pounds and if they don’t keep up with the repayments then those shares get returned to Garlick and John B. If that was the case then it wouldn’t have mattered a jot what ALKs plan was.
That's not really a good idea. Mike Garlick and John B would have wanted to get "full reward" for all they'd done as Burnley shareholders and directors. Why would they sell it to someone who may promise a lot of money to them, but fail to deliver?

That's like saying you will sell your house (or your car) for the highest price offered, but then handing over the keys (keys work for both house and car) when you have only received half the money. You run the risk that the guy you've sold to makes a serious mess of the house or crashes your car and all you get back is the "scrap" value, maybe, including clean up costs.

If you are allowing the buyer time to pay you will always need to know that there's a viable business plan in place that makes it very very likely that they will be able to pay.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by ClaretTony » Wed Oct 20, 2021 3:53 pm

ewanrob wrote:
Wed Oct 20, 2021 3:51 pm
That's staggering, what about their legal teams!
I think we might be at cross purposes. Garlick would have known and potentially John B but not the other directors.
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Re: NNN Podcast

Post by aggi » Wed Oct 20, 2021 3:53 pm

ClaretTony wrote:
Wed Oct 20, 2021 3:49 pm
That's what was made public, that the previous directors get control back should they default on payments.
Have you got a link to that? I remember suggestions that was the case but don't remember it being confirmed.

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Re: NNN Podcast

Post by ClaretTony » Wed Oct 20, 2021 3:57 pm

aggi wrote:
Wed Oct 20, 2021 3:53 pm
Have you got a link to that? I remember suggestions that was the case but don't remember it being confirmed.
I haven't but weren't we the first Premier League club to invest in AiScout?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Paul Waine » Wed Oct 20, 2021 4:00 pm

gawthorpe_view wrote:
Wed Oct 20, 2021 3:43 pm
So could Malcom Jenkins and others, be buying, indirectly, the 6% of shares currently under offer by the club?
Feasible if you don't want to issue new shares.
Any of the shares that are currently held by small, individual shareholders will be bought by the company that holds the shares in the club.

It is possible that some of the money to buy these shares comes from Malcolm Jenkins (and possibly others) buying shares in ALK Capital/Velocity Sports, or however ALK have structured the companies at the top end. Maybe that fits with "buying indirectly."

I imagine that ALK will have a programme of issuing shares to new investors in ALK, as people, such as Malcolm Jenkins join ALK Capital.

UTC
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Paul Waine » Wed Oct 20, 2021 4:08 pm

GodIsADeeJay81 wrote:
Wed Oct 20, 2021 3:36 pm
Lobby Ikea so they build a superstore next to TM :lol:
I can just imagine it now, Ikea's first flat pack stadium stand: the KrokLongSidIte ;)

It would be one very, very, long concourse that takes you in and out and round the club shop, past every one of the food and refreshment outlets and in and out of every turnstile, but never let you get anywhere near seeing the pitch.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by KRBFC » Wed Oct 20, 2021 4:17 pm

aggi wrote:
Wed Oct 20, 2021 3:11 pm
There are many people out there who want to grow their money without worrying about the day to day issues. Just look at all the hedge funds, private equity, etc.
But you are not eligible to receive dividends without being a shareholder? Don't shareholders have to be named? and what is Checketts' role if he doesn't own any shares?

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Re: NNN Podcast

Post by aggi » Wed Oct 20, 2021 4:35 pm

ClaretTony wrote:
Wed Oct 20, 2021 3:57 pm
I haven't but weren't we the first Premier League club to invest in AiScout?
I think you're answering a different post of mine on another thread. I was asking about where this was made public. I'd be intrigued to see exactly what was said.

That's what was made public, that the previous directors get control back should they default on payments.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Sleeping Cat » Wed Oct 20, 2021 4:37 pm

KRBFC wrote:
Wed Oct 20, 2021 4:17 pm
But you are not eligible to receive dividends without being a shareholder? Don't shareholders have to be named? and what is Checketts' role if he doesn't own any shares?
How I read it is Malcolm Jenkins has invested in ALK, not directly into Burnley FC, so he would not need to be named as a shareholder of BFC. It might also be the case investing does not necessarily equal becoming a shareholder in ALK or if ALK is set up as more of a hedge fund type structure. ALK need more investors to pay off the rest of the agreed deal, so I imagine he will be one of a few more follow, all of whom will be hoping for growth/return on their investment in the long term.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by aggi » Wed Oct 20, 2021 4:39 pm

KRBFC wrote:
Wed Oct 20, 2021 4:17 pm
But you are not eligible to receive dividends without being a shareholder? Don't shareholders have to be named? and what is Checketts' role if he doesn't own any shares?
Shareholders are named. It's Calder Vale Holdings Limited who are owned by Kettering Capital Limited. Then you head off overseas to Jersey and Delaware where the rules are much less strict and shareholders don't need to be named.

Dividends will get paid up through the companies and distributed in Jersey or Delaware or wherever.

None of the new directors directly own shares in the club.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Sleeping Cat » Wed Oct 20, 2021 4:42 pm

I find it interesting the BBC article here https://www.bbc.co.uk/sport/football/58977697 a quote by Malcolm Jenkins

"Burnley is known for its tenacity, work ethic, good sportsmanship and efficient operational infrastructure."

is that the operational infrastructure where most of the people have been sacked or resigned? ;-)

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by ClaretTony » Wed Oct 20, 2021 4:49 pm

Sleeping Cat wrote:
Wed Oct 20, 2021 4:42 pm

is that the operational infrastructure where most of the people have been sacked or resigned? ;-)
I did think it needed a bit of a shake up but the number who have left, either of their own accord or otherwise, is staggering.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by NewClaret » Wed Oct 20, 2021 5:20 pm

Interesting development.

Not something I’d ever considered before but imagine if ALK’s strategy is to attract multiple famous US sports people to invest in the club and use their personal brands/social media followings to raise the profile of the club overseas. A very different strategy to the “single, wealthy sugar daddy” approach deployed elsewhere but would be interesting for us.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by joey13 » Wed Oct 20, 2021 5:42 pm

claretonthecoast1882 wrote:
Wed Oct 20, 2021 12:30 pm
Agreed, like one poster who frequently claimed previous owner was pocketing money out the club now being worried about the future of the club under new owner after finally realising the previous owner wasn't that bad.
Remind us how much has the previous owner trousered ?

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Re: NNN Podcast

Post by Winstonswhite » Wed Oct 20, 2021 5:51 pm

Paul Waine wrote:
Wed Oct 20, 2021 3:53 pm
That's not really a good idea. Mike Garlick and John B would have wanted to get "full reward" for all they'd done as Burnley shareholders and directors. Why would they sell it to someone who may promise a lot of money to them, but fail to deliver?

That's like saying you will sell your house (or your car) for the highest price offered, but then handing over the keys (keys work for both house and car) when you have only received half the money. You run the risk that the guy you've sold to makes a serious mess of the house or crashes your car and all you get back is the "scrap" value, maybe, including clean up costs.

If you are allowing the buyer time to pay you will always need to know that there's a viable business plan in place that makes it very very likely that they will be able to pay.
I’m not saying ALK paid nothing for the club and it was all repayments. I’m saying ALK paid an amount up front that Garlick and John B were happy with them any repayments in the future were looked on as a bonus.

Given they “only” paid a couple of million for their shares all those years ago, I’m guessing that they would have accepted an amount (20 million?) significantly less than the value of the club because buyers were hardly falling over themselves to buy BFC and they just wanted rid.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by elwaclaret » Wed Oct 20, 2021 6:04 pm

The Jenkins connection is interesting. Besides being a serial Gridiron winner, he also very active on human rights issues and helping the distressed areas of New York. If Burnley can get him taking an active interest he will bring a large team of experience and expertise in all sorts useful areas the club and (town) could benefit from.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by bf2k » Wed Oct 20, 2021 6:09 pm

When you look at those commercial revenues or goes to show how unsustainable football has become. £15m is £25k/week for 11 players! That’s not even a team fora have at a salary that isn’t competitive at the bottom of the premier league now. I know there are other incomes but there are also other big outgoings as well.

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Re: NNN Podcast

Post by Paul Waine » Wed Oct 20, 2021 6:28 pm

Winstonswhite wrote:
Wed Oct 20, 2021 5:51 pm
I’m not saying ALK paid nothing for the club and it was all repayments. I’m saying ALK paid an amount up front that Garlick and John B were happy with them any repayments in the future were looked on as a bonus.

Given they “only” paid a couple of million for their shares all those years ago, I’m guessing that they would have accepted an amount (20 million?) significantly less than the value of the club because buyers were hardly falling over themselves to buy BFC and they just wanted rid.
From what has been reported, though I lose sight of how much has been definitively confirmed and how much is only media speculation, ALK offered £170 million for the 84% shares. They paid £102 million to complete the acquisition and agreed to pay the balance of £68 million over 3 instalments My speculation is that these 3 instalments are based on the club's performance and, very likely, the key measure of performance is staying in the Premier League for each of 3 seasons - though whether the first of the 3 instalments were triggered by staying up at the end of 2020/21 season, or whether the current season, 2021/22 is the first season I'm don't know.

I don't think Mike Garlick and John B would have sold the club for £102 million and then looked at the £68 million as a "bonus." I'm sure there would have been other offers above £102 million if that was a figure that MG and JB would have been happy with. Didn't the Egyptian team claim to have also offered the same as ALK? Isn't that also reported on somewhere much earlier in this thread?

I don't hold with the idea that "they just wanted rid..." Mike Garlick in particular had put in a lot in his time as Burnley co-chairman and chairman. Yes, he'd reached the conclusion - quite rightly, I believe - that he didn't have the resources to continue to take Burnley forward, so he knew he had to handover to someone who could lead those next steps. Equally, I'm sure he'd want to be appropriately rewarded for all his efforts.

The more we see, the more we learn how this plan will be realised.

Exciting times.

UTC

Paul Waine
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Paul Waine » Wed Oct 20, 2021 6:37 pm

elwaclaret wrote:
Wed Oct 20, 2021 6:04 pm
The Jenkins connection is interesting. Besides being a serial Gridiron winner, he also very active on human rights issues and helping the distressed areas of New York. If Burnley can get him taking an active interest he will bring a large team of experience and expertise in all sorts useful areas the club and (town) could benefit from.
I'm not sure if I've ever heard the name "New Orleans Saints" before today. However, with the "magic of the internet" (or more likely all the cookies they put on your devices) a press announcement from New Orleans Saints popped up on my feed this afternoon. As we know, they were announcing the minority investment Malcolm Jenkins has made in Burnley. The presser goes into all things good about Burnley: founder member, Turf Moor stadium, League champions x 2, cup winners, Sean Dyche longest serving Premier League manager and European competition. It has everything we would want to see that says "if you are a New Orleans Saint" or "if you are a fan of Malcolm Jenkins" then you will want to follow Burnley FC.

Go "Big Easy Saints." ;)

Exciting times.

UTC
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by Paul Waine » Wed Oct 20, 2021 6:38 pm

NewClaret wrote:
Wed Oct 20, 2021 5:20 pm
Interesting development.

Not something I’d ever considered before but imagine if ALK’s strategy is to attract multiple famous US sports people to invest in the club and use their personal brands/social media followings to raise the profile of the club overseas. A very different strategy to the “single, wealthy sugar daddy” approach deployed elsewhere but would be interesting for us.
Paul Waine wrote:
Wed Oct 20, 2021 6:37 pm


I'm not sure if I've ever heard the name "New Orleans Saints" before today. However, with the "magic of the internet" (or more likely all the cookies they put on your devices) a press announcement from New Orleans Saints popped up on my feed this afternoon. As we know, they were announcing the minority investment Malcolm Jenkins has made in Burnley. The presser goes into all things good about Burnley: founder member, Turf Moor stadium, League champions x 2, cup winners, Sean Dyche longest serving Premier League manager and European competition. It has everything we would want to see that says "if you are a New Orleans Saint" or "if you are a fan of Malcolm Jenkins" then you will want to follow Burnley FC.

Go "Big Easy Saints." ;)

Exciting times.

UTC

Devils_Advocate
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Re: NNN Podcast

Post by Devils_Advocate » Wed Oct 20, 2021 6:51 pm

Paul Waine wrote:
Wed Oct 20, 2021 6:28 pm
From what has been reported, though I lose sight of how much has been definitively confirmed and how much is only media speculation, ALK offered £170 million for the 84% shares. They paid £102 million to complete the acquisition and agreed to pay the balance of £68 million over 3 instalments My speculation is that these 3 instalments are based on the club's performance and, very likely, the key measure of performance is staying in the Premier League for each of 3 seasons - though whether the first of the 3 instalments were triggered by staying up at the end of 2020/21 season, or whether the current season, 2021/22 is the first season I'm don't know.

I don't think Mike Garlick and John B would have sold the club for £102 million and then looked at the £68 million as a "bonus." I'm sure there would have been other offers above £102 million if that was a figure that MG and JB would have been happy with. Didn't the Egyptian team claim to have also offered the same as ALK? Isn't that also reported on somewhere much earlier in this thread?

I don't hold with the idea that "they just wanted rid..." Mike Garlick in particular had put in a lot in his time as Burnley co-chairman and chairman. Yes, he'd reached the conclusion - quite rightly, I believe - that he didn't have the resources to continue to take Burnley forward, so he knew he had to handover to someone who could lead those next steps. Equally, I'm sure he'd want to be appropriately rewarded for all his efforts.

The more we see, the more we learn how this plan will be realised.

Exciting times.

UTC
Are you suggesting should we go down ALK will need to default on their debts and put the club into financial risk? If you do not think this and think AKL will have a solid business plan for relegation why then wouldn't messrs Garlick and John B be confident that they will get the remainder of their money?

There is absolutely nothing to suggest the three payments are performance based so for someone who has continuously asked people to stick to what we know on this topic it seems a strange position for you to take

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Re: NNN Podcast

Post by Winstonswhite » Wed Oct 20, 2021 7:03 pm

Paul Waine wrote:
Wed Oct 20, 2021 6:28 pm
From what has been reported, though I lose sight of how much has been definitively confirmed and how much is only media speculation, ALK offered £170 million for the 84% shares. They paid £102 million to complete the acquisition and agreed to pay the balance of £68 million over 3 instalments My speculation is that these 3 instalments are based on the club's performance and, very likely, the key measure of performance is staying in the Premier League for each of 3 seasons - though whether the first of the 3 instalments were triggered by staying up at the end of 2020/21 season, or whether the current season, 2021/22 is the first season I'm don't know.

I don't think Mike Garlick and John B would have sold the club for £102 million and then looked at the £68 million as a "bonus." I'm sure there would have been other offers above £102 million if that was a figure that MG and JB would have been happy with. Didn't the Egyptian team claim to have also offered the same as ALK? Isn't that also reported on somewhere much earlier in this thread?

I don't hold with the idea that "they just wanted rid..." Mike Garlick in particular had put in a lot in his time as Burnley co-chairman and chairman. Yes, he'd reached the conclusion - quite rightly, I believe - that he didn't have the resources to continue to take Burnley forward, so he knew he had to handover to someone who could lead those next steps. Equally, I'm sure he'd want to be appropriately rewarded for all his efforts.

The more we see, the more we learn how this plan will be realised.

Exciting times.

UTC
Couple of things.

Do you honestly believe the Furnell bid was legitimate? I personally think Garlick played a blinder in using that numpty to get the deal finalised from ALK.

Secondly, 102 million up front (are you sure)? Ok even better. Mike Garlick definitely wanted to get rid of the club and if he had increased his initial investment by that much plus a return of shares if they don’t keep up repayments then he wouldn’t have given a toss who he was selling to or whatever business plan they had and why should he?

He’s made memories for himself and his family over the last five years that will last a lifetime (plus £50 million+) Fair play to him I say. He took a risk in 2012 and put his money in. Good on him.

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by elwaclaret » Wed Oct 20, 2021 7:04 pm

Possibly we’re seeing the first of US Celebrity Sportsmen joining ALK and bringing their fans interest with them… Hi -profile (relatively) minimal investments that bring US sport fans putting Burnley in a different market (and financial league) for merchandising opportunities. A win/win for the club and celebrity.
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Re: ALK Capital or Farnell/Elkashashy takeover

Post by claretonthecoast1882 » Thu Oct 21, 2021 8:22 am

joey13 wrote:
Wed Oct 20, 2021 5:42 pm
Remind us how much has the previous owner trousered ?

Constantly while in charge of the club like he was accused of on here ? Nothing

On selling the club he got the price someone was willing to pay, the same with any house or business anywhere in the world. The comments like yours above done so out of pure jealousy offer nothing. Should he have given the club away rather than sell it ? Nobody was complaining when he initially took the club on, but because under him the club done well he shouldn't be rewarded in some eyes.

I suppose if in a few years time the club is on its arse and in a lower division you will be happy that the current owners can't sell it at a profit, or would you prefer the club to do well and be valued even higher again?

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Re: ALK Capital or Farnell/Elkashashy takeover

Post by claretonthecoast1882 » Thu Oct 21, 2021 8:24 am

NIDGE 65 wrote:
Wed Oct 20, 2021 7:39 pm
Garlick busy buying up shares before the deal went through. Win win for him!
Can you prove this ?

You do seem to be quite reckless with accusations

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