Official Takeover Thread

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Re: Official Takeover Thread

Postby Ezeikial » Wed Nov 29, 2017 3:03 pm

White Horse wrote:
mike wrote:There are plenty of questions for Dundalk supporters to be asking, but as I said before, with DFC being a private company, there may not be too many answers coming back.

Details of the actual takeover would be good to see, but will even a summary be shared I wonder, an interesting one and a point made above by shedsteve is very valid. Will they insert a clause to say any takeover must include redevelopment? Will it be acted upon ?



The more clauses and restrictions that are inserted, the lower the purchase price.

I'm sure we all know which will be considered the most important.


Even if there were clauses inserted, who would litigate if they were breached?


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Re: Official Takeover Thread

Postby oldfogey » Wed Nov 29, 2017 3:44 pm

Ezeikial wrote:
It is not unreasonable for supporters who care passionately about the club to express concerns and reservations about something that seems to be progressing to a done deal without any real information being available.


Accusing people of being money grabbers who don't care about the future of the club is a bit more than expressing concern. If the owners reduce the selling price then the surplus stays within the club. For 10 points, who can tell me what will happen to all that extra lolly?

Perhaps what people really want is for Andy and Paul to hand the club over to a "Supporters Trust" complete with all that extra cash. I would happily open a book on who disappears first, Stephen Kenny, the players, or Dundalk FC.

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Re: Official Takeover Thread

Postby Ezeikial » Wed Nov 29, 2017 4:20 pm

Johnny Guitar wrote:. Although the trust joined in unison with Andy and Paul when they took over supporter interest in the trust dropped off a cliff as the team was doing well.


I think the reality is that the Trust ceased to operate soon after the takeover. It became anonymous or dormant.
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Re: Official Takeover Thread

Postby Ezeikial » Wed Nov 29, 2017 4:30 pm

oldfogey wrote:
Ezeikial wrote:
It is not unreasonable for supporters who care passionately about the club to express concerns and reservations about something that seems to be progressing to a done deal without any real information being available.


Accusing people of being money grabbers who don't care about the future of the club is a bit more than expressing concern. If the owners reduce the selling price then the surplus stays within the club. For 10 points, who can tell me what will happen to all that extra lolly?

Perhaps what people really want is for Andy and Paul to hand the club over to a "Supporters Trust" complete with all that extra cash. I would happily open a book on who disappears first, Stephen Kenny, the players, or Dundalk FC.


What Andy and Paul have done to date is nothing short of magnificent.

Perhaps I missed the posts where the money grabber accusations were made, or where it was said that they don't care about the club, but it seems to me that it is reasonable to question the consequences of this potential deal.

Do you have blind faith in this deal being good for the long term future of the club?

If we learn more about the deal we all might be able to form more reliable views
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Re: Official Takeover Thread

Postby shedsteve » Wed Nov 29, 2017 4:44 pm

If the two lads make a few bob (or more!) out of the club then they deserve it. No qualms from me on that front.

I am concerned that the bond and trust that the owners and club has developed with the community in recent years will disappear or be eroded with the new owners. The LOI needs local passion and volunteers to exist and thrive and I feel that a 100% takeover is dangerous on that front. I would be much more comfortable if Andy and Paul were staying on board in some capacity. The club needs that continuity and local knowledge. Was it mentioned somewhere that Martin Connolly is staying as GM? That's something if so.

I guess we wont know details of the deal until it is announced. We don't have a right to be privy to it but unfortunately in an information vaccum stuff is made up and grows legs and runs.

My only hope/comfort is that given the passion and dedication and commitment to DFC by Paul and Andy that they will act in the best interests of the club and ensure that any takeover is as good for them as it is for the future of the club.

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Re: Official Takeover Thread

Postby mike » Wed Nov 29, 2017 4:48 pm

The key point in all of this is, we don't know anything about the deal, but almost everyone that posts on this forum cares and I would add passionately about the club.

As supporters we are obviously hoping for the takeover to place the club in a solid and long term future, however we are also entitled to feel very cautious too. We can look back at very recent examples of Irish clubs going to the wall as a result of takeovers / overspending / borrowing / property deals etc.

As football fans first, we are perfectly entitled to be thinking, how will this proposed deal benefit the club and what exactly do the new guys want out of it, even in the medium term.

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Re: Official Takeover Thread

Postby OHare » Wed Nov 29, 2017 4:54 pm

First toughts on this are:

1. This investment Fund are obviously in this for the money ( Europa League/Champions League) and not for the love of Dundalk football club, its history or the region .

2. To make there return we will obviously have to be dominant in the domestic league, which will in turn mean they will invest in the squad. ( A positive)

3. Who picks up the pieces if and when they decide they have had enough. Will the Football club be the ones burdened with a large Debt.

4. Why would they pump Millions into Oriel Park when they wont own the Lease to the ground as its in the Casey family name. Has plans the current owners had for the redevelopment been shelved now that they are selling up.

5. Will any of Peak6 be active board members or will they be taking a back seat and letting Martin Connolly run the day to day tasks of the club.

At this stage its All Caution and What ifs. Hopefully in the long run this all works out As a brilliant bit of business by the club. But for now until we get More information I think everyone's concerns are valid.

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Re: Official Takeover Thread

Postby Jim Murphy » Wed Nov 29, 2017 6:03 pm

“progressing to a done deal without any real information being available.”
Therein lies a dichotomy …. How can real meaningful information be made available in the absence of an agreement and while negotiations continue ? Until the negotiations are completed and an agreement emerges what is there to talk about?
In the meantime and with regard to the intentions of the new investors, surely with their track record Paul and Andy have earned our trust and confidence that they will have satisfied themselves as to the bona fides of Peak 6.
And if a deal does not emerge it is likely to have failed on that score.

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Re: Official Takeover Thread

Postby Wexford White » Wed Nov 29, 2017 6:23 pm

I have read and re-read all posts on this topic.
I'm confused.
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Re: Official Takeover Thread

Postby Ezeikial » Wed Nov 29, 2017 7:03 pm

Jim Murphy wrote:“progressing to a done deal without any real information being available.”
Therein lies a dichotomy …. How can real meaningful information be made available in the absence of an agreement and while negotiations continue ? Until the negotiations are completed and an agreement emerges what is there to talk about?
In the meantime and with regard to the intentions of the new investors, surely with their track record Paul and Andy have earned our trust and confidence that they will have satisfied themselves as to the bona fides of Peak 6.
And if a deal does not emerge it is likely to have failed on that score.


Jim - you make some good points, particularly in relation to Andy & Paul having earned the trust and confidence of supporters. I also have a high level of confidence and faith both in the two owners and in other board members who I assume are privy to developments.

I also suspect that there was also a strong level of faith and confidence in Brain Lennox in Cork when he did the disastrous deal with Arkaga .

The issue is not about the bone fides of the seller - it is more got to do with the intentions and future actions of the buyer.

For supporters the potential risks and rewards are great - I believe that a healthy scepticism is more appropriate than an uncritical blind acceptance
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Re: Official Takeover Thread

Postby Shoco » Wed Nov 29, 2017 7:10 pm

I may be reading this wrong, but looking at the Nasdaq share price for Peak6, they are valued at 2.5 billion dollars.

http://www.nasdaq.com/quotes/institutional-portfolio/peak6-investments-lp-735043

So I would ask why would they be bothered with a league of Ireland club? The chances of making the group stages again are slim, and even if we did, the profit of 3-4 million is nothing to this crowd.

Put it this way, if you had a bit of money to invest, went to investment firm and was told we will put your money into a league of Ireland club, would you be happy with that? I wouldn't.

As someone already said, Paul and Andy may be the only people who ever made a bit of money on owning a LOI club. So I really struggle to see what peak6 are interested in us.

I don't think it's a case of a couple of Europa league group stage appearances and a few million. I'm sure there are but better investment opportunities elsewhere

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Re: Official Takeover Thread

Postby dundalkfc1903 » Wed Nov 29, 2017 8:12 pm

New MD to be appointed, from the UK. I wonder what role Martin Connolly will take up for the transition period.

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Re: Official Takeover Thread

Postby Wexford White » Wed Nov 29, 2017 9:56 pm

dundalkfc1903 wrote:New MD to be appointed, from the UK. I wonder what role Martin Connolly will take up for the transition period.

Whaaaaat? Can you elaborate?
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Re: Official Takeover Thread

Postby Duffman » Wed Nov 29, 2017 10:03 pm

Wexford White wrote:
dundalkfc1903 wrote:New MD to be appointed, from the UK. I wonder what role Martin Connolly will take up for the transition period.

Whaaaaat? Can you elaborate?


There was never any chance that a private equity firm wouldn't be bringing in their own people, it's par for the course. I agree with a few of the posters here that a sceptical or cautious approach is needed by the fans, blindly thinking that this will be a good thing to me is a head in the sand moment.
And FYI that's a very different conversation to what the fastfix boys have done over the years. Good luck to them, overseeing some brilliant times, they're worth whatever payday/sale price that they get.

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Re: RE: Re: Official Takeover Thread

Postby Sneachta » Wed Nov 29, 2017 10:50 pm

dundalkfc1903 wrote:New MD to be appointed, from the UK. I wonder what role Martin Connolly will take up for the transition period.
This is the sort of rumours that shouldn't be leaked if you are in the know. Its irresponsible to speculate if you are an individual in the know, especially when the two current owners themselves are saying dam all as the deal supposedly is imminent.

In saying that, if you had've said "I assume they'll bring in their own MD" then grand. But leave out the grand generalised statement.

Regarding the deal. In any business, organisation public or private, all change is loss. Once the change is made, progression is made, development is made, money is made. Everyone's scepticism seems to be hanging on "what if we don't make Europa group stages every year?" It could be this company will be looking to make revenue from other sources other then the Europa league. Could oriel park become a major conference centre, concert venue etc with big investment in infrastructure? For now We will have to accept this change is the loss of something great over the last five years. The next five can only change positively as far as I can see.

Everyone here also said that they wanted millions spent to build a new stadium. But where would it come from. Nobody local was willing to take a punt. Well here we go. Its on our doorstep. It could happen. Be prepared. Somebody mentioned vulture funds referring to peak6?!? I think they are a little different from vulture funds. If not, then I'd be wary of what could happen to assets indeed.

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