World's oldest club set for Arabs takeover
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Notts County set for Middle East takeover
Notts County, the world's oldest football league club, said on Thursday that a Middle East consortium was taking them over in a multi-million pound deal.
Notts, formed in 1862 but languishing in the lower reaches of the English League for many years, said on its website that Munto Finance Limited, owned by several Middle-East based businessmen, had agreed to buy the club once the usual financial diligence checks had been made.
Describing the deal as one worth "multi-millions" the club said in the statement: "The group wants complete control of the Magpies and has ambitious plans to restore the fortunes of the world's oldest football league club."
The club, who finished the recently ended season 19th in League Two, would become the fourth in England to be taken over by Middle Eastern interests following Premier League Manchester City, and Portsmouth, where due diligence tests are starting before they are acquired by new Arab owners.
Egyptian Mohamed Al Fayed has also owned Premier League Fulham for 12 years.
TAKEOVER PROCESS
The club's chairman John Armstrong-Holmes said in a statement that two of the Munto group were appointed to Notts County's board on Tuesday to assist in the takeover process.
He also told Sky Sports News the money involved was "substantial" and that the funds were in place for the takeover.
Asked why millionaire businessmen from the Middle East would want to invest in a club like Notts County, Armstrong-Holmes explained: "Manchester United are probably about a billion pounds in debt, something like that I hear, they have to spend about 50 million pounds plus a year just to service that debt.
"Liverpool were 300 million pounds in debt, they want another 300 million pounds or more for their new stadium, so when you look at Notts County as a proposition, rather than those propositions, what a success story.
"You can take the world's oldest football league club, progress it through the leagues gradually with a common sense approach, rather than throw all that money into a banker's pot or someone else's pot."
Despite being founder-members of the Football League in 1888, Notts County have had very little success. They won the FA Cup in 1894 but their best ever seasons in the top flight were third-placed finishes in 1891 and 1901.
They last played in the top division in the 1991/92 season - the final Division One season before the Premier League began.
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[Asked why millionaire businessmen from the Middle East would want to invest in a club like Notts County, Armstrong-Holmes explained: "Manchester United are probably about a billion pounds in debt, something like that I hear, they have to spend about 50 million pounds plus a year just to service that debt.
"Liverpool were 300 million pounds in debt, they want another 300 million pounds or more for their new stadium, so when you look at Notts County as a proposition, rather than those propositions, what a success story.]
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wow , a billion pounds in debt ???
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that's 1000 millions u know ???
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for Liverpool is small fly ....
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any rhyme or reason also can take pot shot at Man U hor... u seriously need a life man..
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never la ... i am surprise , a few days ago i saw they made world record profit ..... never imagine they are that also in debt .
In debt surely la , a little , but ONE BILLION ???? That's 1000 million pounds , i will not believe that . I am surprised !!!!
Today one moron just saying we should have bankrupt ..... now i think , we should be able to survive , if MU with 1b pounds in red can survive , we can .
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why so sensitive ? Sounds like shooting at MU to you ?
U need Colgate Sensitive for your rest of your life .
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The debt amount may seem bigger but you need to look at the stability of the club and the yearly profits it generates before comparing... While United are probably in debt of around $650m, But they have a yearly net profit of around $80 to $90 million... After servicing the interest on their loan at about $45m yearly, they are still left with about $40m... Their loan period is said to be 7 to 10 yrs... Bottomline is they are not making a loss... Liverpool on the other hand is totally different... Without a strong marketing arm bringing in the dollars, the profits made on the field may not be enough to even service their $350m loan... It is said that they are required to pay a sum of $36m per year in interest alone... So, the sum owe isn't the important factor... Its the ability to pay and service it which is more important... And finally, its not 1 billion...
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Yea right. As if you do not know that the glazer's took on world record loan and buy Man U and then load the loan on the club.
Anyway, Poolman, u r the only one actively opening threads, and joining any thread that has an iota of bad stuff about Man U. Think about it. The only Man U supporter (Claimed, but no one believes) that does exactly the same is JffDevil. Please go ahead with whatever your agenda is if you are so inclined. I'm just saying that you are reaching the level that JffDevil is at. Go ahead if u do not mind. Especially when you are reportedly about twice his age.
Out.
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Originally posted by nOrmalbOi:
Yea right. As if you do not know that the glazer's took on world record loan and buy Man U and then load the loan on the club.
Anyway, Poolman, u r the only one actively opening threads, and joining any thread that has an iota of bad stuff about Man U. Think about it. The only Man U supporter (Claimed, but no one believes) that does exactly the same is JffDevil. Please go ahead with whatever your agenda is if you are so inclined. I'm just saying that you are reaching the level that JffDevil is at. Go ahead if u do not mind. Especially when you are reportedly about twice his age.
Out.
If that's what u thought so , i cannot stop you . -
Originally posted by nOrmalbOi:
Yea right. As if you do not know that the glazer's took on world record loan and buy Man U and then load the loan on the club.
Am i a MU fan to know about how MU make money ???Do i know into deep how well MU profit , apart from recent article they made a record profit ?
I don't !
Then thanks Zocoss for gracefully explained that to me , i appreciate Zocoss on that .
Am i the one to say MU in the billion pounds debt ? It's an expert who said that , not me .
Do i deserve ur accusations that i have a shot at MU ?
U certainly needs a life to focus on what i said in this forum .
And senstive u were .
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Originally posted by nOrmalbOi:
Yea right. As if you do not know that the glazer's took on world record loan and buy Man U and then load the loan on the club.
Anyway, Poolman, u r the only one actively opening threads, and joining any thread that has an iota of bad stuff about Man U.
To accuse me , u have to present me proof that i started a thread and attack MU , don't anyhow accuse .Show me any thread , go do your homework .
Then i show u my homework .
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i loves challenges , do u normalboi ???
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Originally posted by zocoss:
And finally, its not 1 billion…
I don't said that , that takeover expert said that .... he's an expert in this field .I was surprised he mentioned that figure .... which i have doubts , but he's an expert , i had to believe him .
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http://sgforums.com/users/54120/monitored?page=3
Ok i help you , this is all what i posted everytime ... go find those threads that u found that i initiated fights and those i joined in any attacks on Man Utd .
Go find and let's have some concrete discussions , not fights .
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What take-over "expert" you are quoting? That John Armstrong-Holmes guy? Is he even qualify to be called an expert in this field?... He is only a chairman of a League 2 bottom side... League 2 is like... After Premier League, League Champions, League 1, then we have League 2... They were lucky they didn't fall into the Conference League in the season just ended... Anyway, we can easily see he was speaking to promote his own club rather than as a financial expert... And what and how he said it... Its more like a figure of speech or just a metaphor of their debts... But not necessary that amount... "Manchester United are probably about a billion pounds in debt, something like that I hear, they have to spend about 50 million pounds plus a year just to service that debt." "are probably" and "something like that I hear"... These are best pass off as his personal opinion... Hearsay... And definitely not in a capacity of an accountant or an auditor... Man United's debt amount have been well published over the last 2 years already... Even the rest of the other big four are well known too... You have over emphasize on the sum liao...
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PREMIER LEAGUE TEAMS WITH MOST DEBT 2007/08Chelsea - £711mManchester Utd - £649mArsenal - £318mLiverpool - £300mNewcastle Utd - £245mFigures are net debt at end of 2007/08 seasonSource: DeloitteHere's where i got it from.
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ok .....i got that , just a assumption of 1b pounds from the chairman , which is far from what omg presents .
Looked like MU not the worst .
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u see guys out there .... we have discussions , like omg presented a facts , with datas , and all are convince .
With facts , nobody is shooting at who , all trying to clarified each of their very own personal opinion , is this shooting ?
Definitely not . Constructive discussions .
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so ah boi still has no time to reply ?
it's ok ah boi ..... no worries .
If cannot bring out any facts about me started any nuisance threads towards MU fans , it's ok .
No apology needed .
Just to tell you , i don't do that .
U don't provoke me , i don't touch you .
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Poolman, please learn proper grammer. If not please shut up.
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How come no history lessons from the self righteous fan this time? LOL!!!
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What a turd.
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Originally posted by Makanyhow:
Poolman, please learn proper grammer. If not please shut up.
yeah , i admit that .Fast glance always got that problem .
Unlike some MU pussies , i encounter 2 liao , cannot take up my challenge .
Where is that pussies Ah Boi , he still haven't been seen after he start the accusation against me .
U should tell him shut-up too .