Install the app
How to install the app on iOS

Follow along with the video below to see how to install our site as a web app on your home screen.

Note: This feature may not be available in some browsers.

 

January transfer window 2024

Status
Not open for further replies.
Kevsleftpeg said:
An LOI is not legally binding. No seller is going to agree to a deal which is contingent on the buyer finding funding. They would actually generally insists on certainty of funding I.e. signed facility from banks or commitment letter and equity commitment letters.
Click to expand...
So they have the funding in place? Doesn’t seem like they do given the requests to turn debt to equity and other media reports.
 
pfim said:
So they have the funding in place? Doesn’t seem like they do given the requests to turn debt to equity and other media reports.
Click to expand...
I have no idea but I would it very odd if Moshiri is effectively giving them an option to buy the club at a pre-agreed price. Having a funding condition is a massive get out of jail free card in a takeover scenario. He is desperate though so anything is possible.
 
pfim said:
The binding agreement in your scenario is the "deal."

If you buy a house you sign a contract, contingent on meeting criteria (funding, inspections, etc).

If I no longer want to buy the house, I forfeit my deposit and that is the penalty for doing so.

When you sign a LOI to buy a company, it is contingent as well (funding is the largest).

If 777 can't close the deal for whatever reason, there are likely contingencies (or penalties) around that.

On the club's side, there are likely provisions as well in terms of good faith provisions so they can't kill the deal if the get a better offer etc.

Those all likely have time limits.

But the deal is not complete, you can't force 777 to buy something they can't or no longer wish to.
Click to expand...
Buying a club or large company is not the same as buying a house, and I would suggest you are making large assumptions about the ease with which buyers can exit a signed contract that are rarely seen in reality. There are NOT likely contingencies if 777 cant close the deal for WHATEVER reason, there are likely just a couple of contingencies for very specific and unexpected reasons. House purchases are a good entry level analogy, but the corporate world and its lawyers do not operate like mom and pop.
 

Zatara said:
We were linked to another player from Linfield yesterday. Their left winger, similar age.
Click to expand...
baby-league-1604831273.jpg

Sign em all up Zat
 


Status
Not open for further replies.

Welcome to GrandOldTeam

Get involved. Registration is simple and free.

Register
Back
Top