[Bigrob80]

Myself thinks he has done the best thing for WBA, maybe we don't get a new owner just yet, but let's be honest I would rather have JP in charge then another joke of an owner!
I hoped it would go through, but only if it was the right person/group who could take us forward as a football club in a correct and proper manor, I am guessing admittedly, but I think he did not commit because he has a genuine love for our club and to me that speaks volumes!
He may not be the most forthcoming with funds but you got to admit when things have gone wrong ie the last couple of managers/seasons he has made changes.
I admit I was excited at the thought of a takeover but we get to relive the whole experience over again, it truly is a roller coaster ride being a baggies fan!

[divinewind]

I think most of us hoped it would go through,but also harboured doubts about the implications. Reading Peace's statement's he is leaving it on the market and open to other offers.

[LongBridge Baggie1]

I think most of us hoped it would go through,but also harboured doubts about the implications. Reading Peace's statement's he is leaving it on the market and open to other offers.

The need is squad strength. He needs to back Pulis now. Although you and I are in differing camp hn it come to Peace I respect your opinion sir. I do think we'll be sold before Christmas because this deal was almost completed. What's that old saying "Marry in Haste, Repent at Leisure"   

[stoxman]

  If we are looking for the right buyer based on them investing you'd have thought that we'd have been investigating and vetting potential buyers during the early due diligence - i.e. before the exclusivity period.

I'm not in the know on this deal in any way but I would be astonished if JP's advisers hadn't conducted very extensive proof of funds at an early stage. It is Corporate Finance 101 stuff. 

Sadly, there is a big difference between proving means and proving intent. I could walk into a car showroom tomorrow with a bank statement showing that I could buy but my intent might be anything from very serious buyer through to merely wanting a test drive.

[LongBridge Baggie1]

I'm not in the know on this deal in any way but I would be astonished if JP's advisers hadn't conducted very extensive proof of funds at an early stage. It is Corporate Finance 101 stuff. 

Sadly, there is a big difference between proving means and proving intent. I could walk into a car showroom tomorrow with a bank statement showing that I could buy but my intent might be anything from very serious buyer through to merely wanting a test drive.

Sheffield Wednesday had the same Problem with a tyre kicker last year. Financially we're in a good place, so no need to drop pur draws until A buyer who'll invest to move us forward can be found and they will we're debt free or the liabilities we have are very low 

[overseas baggie]

I'm not in the know on this deal in any way but I would be astonished if JP's advisers hadn't conducted very extensive proof of funds at an early stage. It is Corporate Finance 101 stuff. 

Sadly, there is a big difference between proving means and proving intent. I could walk into a car showroom tomorrow with a bank statement showing that I could buy but my intent might be anything from very serious buyer through to merely wanting a test drive.

If the potential buyer was over-leveraged then the large Chinese stock market fall may well have meant that they could not complete, even though they appeared to have ample wealth when entering into exclusivity.

The phrase "at this time" in JP's press release appears to me to be significant.

[Nickwba1]

I doubt the recent stock market fall in China would have had a massive effect. It's still one of the best performing in the world and up 13.5% since start of the year despite the fall off. It's been massively overstated in the media here.

[overseas baggie]

I doubt the recent stock market fall in China would have had a massive effect. It's still one of the best performing in the world and up 13.5% since start of the year despite the fall off. It's been massively overstated in the media here.

It all depends on what leverage they might have taken, and when.  Chinese banks may also have drastically reduced their credit lending books.

[Nickwba1]

The opposite is probably true with Chinese banks..they are again on a lending spree, more likely if it's on foreign investments too. If we were talking about a bigger Chinese consortium or Wanda for example i'd be pretty certain their access to money is going to be easier that those with minimal investment overseas.

[overseas baggie]

The opposite is probably true with Chinese banks..they are again on a lending spree, more likely if it's on foreign investments too. If we were talking about a bigger Chinese consortium or Wanda for example i'd be pretty certain their access to money is going to be easier that those with minimal investment overseas.

Thing is we don't know who it was - we can only speculate

[stoxman]

I would agree that stock market falls are unlikely to have had much of an effect. Stock market ownership levels are pretty low in China; most Chinese own far more cash and property than equity. The currency would be far more important had it been very weak over the last year as this would have made Albion more expensive but the currency hasn't done very much either.

It might be that Chinese banks have tightened their books but then again, it is just as likely that the credit (if indeed there was bank finance involved) would have been supplied by a European/UK bank and they are still lending.  Bond yields have been rising and that would have made such financing a bit more expensive but only at the margin. 

To be honest, I don't think it's down to stock markets, Chinese credit books, bond yields or anything that subtle.  My gut tells me that it's the Chinese just being flaky but that's just my experience...

[AlbionFan]

Reading reports on the proposed take over it is referred to as "suspended" and in JP's statement he says:-

"It is now clear to me that this potential purchaser is unable to fulfil the terms of that agreement at this time,"

The telling part for me is the "at this time". So, could it still be on in the near future?

[royhan]

I get the impression that the dip in the Chinese money markets meant that the prospective purchasers couldn't afford to pay JP his full £150m up front. That being the case they wouldn't be able to plough any cash into the club for transfers. In other words, they would be a potential liability rather than an asset and only interested in how much they could make for themselves from next yesr's TV deal.

[tex]

The constant spin from Peace and the lack of any real insight means all you can do is speculate. What amazes me is how quick so many posters are to see Jeremy as the good guy. He misleads everyone with worthless statements such as the sale will not affect transfers, the head coach must be suckered in because he wanted the majority of the transfer business done by the time we left for the USA. We bid for players who we have no chance of getting at the price and then indignantly claim the club will not be held to ransom. Two weeks to the start of the season and one player in for 1.5m, five out or as good as.
Simple fact is that Peace wants his money out, when you strike a deal and go into due diligence material changes to the financial health of a company change the sale price. Peace was never going to pay the money to get these rumored players because the risk was they were never going to be valued at the purchase price. Splashing 20m in transfers was a complete non starter.
I just hate the BS we get fed and how little he thinks of the supporters intelligence.

[WBArgo]

The constant spin from Peace and the lack of any real insight means all you can do is speculate. What amazes me is how quick so many posters are to see Jeremy as the good guy. He misleads everyone with worthless statements such as the sale will not affect transfers, the head coach must be suckered in because he wanted the majority of the transfer business done by the time we left for the USA. We bid for players who we have no chance of getting at the price and then indignantly claim the club will not be held to ransom. Two weeks to the start of the season and one player in for 1.5m, five out or as good as.
Simple fact is that Peace wants his money out, when you strike a deal and go into due diligence material changes to the financial health of a company change the sale price. Peace was never going to pay the money to get these rumored players because the risk was they were never going to be valued at the purchase price. Splashing 20m in transfers was a complete non starter.
I just hate the BS we get fed and how little he thinks of the supporters intelligence.

I assume that Pulis wanted us to look at Ba and Gignac but we could only get them on our budget, i.e. not go over £80k p/w on these players. So I assume we looked at them but backed off when the money became stupid...what is particularly wrong with that?
The window is far from over and players will be coming in within the next few weeks. '5 out' but most of them offer nothing to the team, it's hardly been a disastrous window so far and it's still weeks until kick-off.

[tommcneill]

The constant spin from Peace and the lack of any real insight means all you can do is speculate. What amazes me is how quick so many posters are to see Jeremy as the good guy. He misleads everyone with worthless statements such as the sale will not affect transfers, the head coach must be suckered in because he wanted the majority of the transfer business done by the time we left for the USA. We bid for players who we have no chance of getting at the price and then indignantly claim the club will not be held to ransom. Two weeks to the start of the season and one player in for 1.5m, five out or as good as.
Simple fact is that Peace wants his money out, when you strike a deal and go into due diligence material changes to the financial health of a company change the sale price. Peace was never going to pay the money to get these rumored players because the risk was they were never going to be valued at the purchase price. Splashing 20m in transfers was a complete non starter.
I just hate the BS we get fed and how little he thinks of the supporters intelligence.

Key word here is intelligence

Some supporters would have us pay over the odds for good but mercenary players.

Why should we pay more than a player is worth??

[caravanc58]

Key word here is intelligence

Some supporters would have us pay over the odds for good but mercenary players.

Why should we pay more than a player is worth??

The club cannot have it both ways though, we have screwed some crazy prices out of other clubs when selling our players. sometimes if its what's needed or what the manager wants you have to pay the price.
we as supporters pay a lot more than something's worth every time you buy the new strip or food and drink at the ground.

[Brummie Road]

The constant spin from Peace and the lack of any real insight means all you can do is speculate. What amazes me is how quick so many posters are to see Jeremy as the good guy. He misleads everyone with worthless statements such as the sale will not affect transfers, the head coach must be suckered in because he wanted the majority of the transfer business done by the time we left for the USA. We bid for players who we have no chance of getting at the price and then indignantly claim the club will not be held to ransom. Two weeks to the start of the season and one player in for 1.5m, five out or as good as.
Simple fact is that Peace wants his money out, when you strike a deal and go into due diligence material changes to the financial health of a company change the sale price. Peace was never going to pay the money to get these rumored players because the risk was they were never going to be valued at the purchase price. Splashing 20m in transfers was a complete non starter.
I just hate the BS we get fed and how little he thinks of the supporters intelligence.

When you say the "constant spin" from Peace are you referring to the 2 or 3 Club Statements on this issue on the Official site as from what I can see all the "spin" is from the media and supporters?

What "BS" are we being fed?

You moan about "spin" but your post is made up entirely of that and not backed up by any substance whatsoever?

[AlbionBest]

The club cannot have it both ways though, we have screwed some crazy prices out of other clubs when selling our players. sometimes if its what's needed or what the manager wants you have to pay the price.
we as supporters pay a lot more than something's worth every time you buy the new strip or food and drink at the ground.

Can't disagree with that.
The new going rate for a player at this level is not the rate of even a few years ago and you have to effectively pay that for players you really want and will make a difference otherwise you don't just stand still, you quickly go backwards as a team.
It's also a big test as to whether Peace will really back Pulis when tough decisions have to be made and we have to either pay that bit extra to get a key signing or miss and get an inferior target who just becomes another 'squad filler' like so many last season !

[tommcneill]

The club cannot have it both ways though, we have screwed some crazy prices out of other clubs when selling our players. sometimes if its what's needed or what the manager wants you have to pay the price.
we as supporters pay a lot more than something's worth every time you buy the new strip or food and drink at the ground.

Yes but £10-15 per shirt more than its worth or £1 on beer is not relevant to £4-6 million pound extra on top of the valuation we have for a transfer fee and £80-100k a week over 3-4 years is it....I don't see the comparison

Yes we have gotten more money out of clubs for some players but that was obviously what the buying club was willing to pay, I don't see any other club stumping up the kind of cash QPR want for either Phillips or Austin which for them is a great thing but people are not paying them the money they want so they are not worth that.

Its not having it both ways its living within our means and not bankrupting the club which I'm happy doesn't happen

[RedHead_Baggie]

What Peace's statement should have read is this:

"While I know my approach can sometimes be described as tight fisted and small time I would like to assure supporters that the squad will be significantly bolstered by the Man City game. We could leave it until the end of August but as there are four games before then we need to have everything in place to give Tony and his staff time to bed the squad together."

"There has been no major footballing event this summer so I can't use the excuse that agents/ players have been away. I did say lessons have been learned from the last two years of poor transfer windows but as of yet I haven't practiced what I preach."

"I fully appreciate that there are now just over two weeks till the start of the upcoming season and as of yet we haven't done anything remotely positive to give supporters a cause to look forward to it. I promise from this day forward that we will start acting like 19 other clubs in this division do and start living in the real world."

Yours Faithfully

Jezza

[paulosull]

For those fans who think JP is the best thing since sliced bread please have some perspective, this man is only in it for the money. Little things are coming out about why this deal fell through the main issue was that he wanted all the money up front for his stake within a certain time frame which has not gone down well with the Chinese.

[Baggie79]

Really happy with this decision, JP has been and will continue to be our best chairman of modern times. He will still sell soon but this one obviously wasn't right for him or the club.

[halifax_baggie]

For those fans who think JP is the best thing since sliced bread please have some perspective, this man is only in it for the money. Little things are coming out about why this deal fell through the main issue was that he wanted all the money up front for his stake within a certain time frame which has not gone down well with the Chinese.

Initial negotiations, before exclusivity would include key issues, maybe a Letter of Intent , probably including time frame, purchase price and payment terms, compensation or penalty for early withdrawal, key issues etc. would be included. In company sales it is normal to have funds in place to purchase shares at an agreed price,  however due diligence as I said before is where both sides evaluate risk and attempt to modify terms and extract warranties and guarantees. From a sellers point of view risk to the deal was discovered hence temporary or permanent suspension of negotiations = real world ;

[paulosull]

Initial negotiations, before exclusivity would include key issues, maybe a Letter of Intent , probably including time frame, purchase price and payment terms, compensation or penalty for early withdrawal, key issues etc. would be included. In company sales it is normal to have funds in place to purchase shares at an agreed price,  however due diligence as I said before is where both sides evaluate risk and attempt to modify terms and extract warranties and guarantees. From a sellers point of view risk to the deal was discovered hence temporary or permanent suspension of negotiations = real world ;

only hearing gossip that Chinese felt insulted by insistence on fee more so after financial crash in their stock market