Oyston loses in court of appeal

Also this
https://api.cxense.com/public/widget/click/I3fm8wnvXEkk2xgkgyJX4JhUc7Hlf1Xga8UIjSDe4Q3Gf5dNV1GRTJOfHIaR7YmidGL6t6Tm10mQuD3oUpL9tckGVlfAXeHRjdnDL1UQYtNZSOl_ZwMljCozC8aA9BM-yy5rzq33l7VdL3GlMDohoX2hVV9_nJ0-SWz195Q2fWYkN9RqniEKyMcjEf-xyzMAZnbse9IxCdhOuzps3tJnzasbDDAVlkTxkS_K81JXl_UIL8UJLdrsnaZuNsAolbvRX33ar5Z56BUHEBoudhn0OsdURITRzBpaBcC46kU-hCGovjNoJFWrBtIpXbka6oOoaE1G7DlsrDHwPcm_6-0pnmv6oATnh7lBWL63zoj_Pu7MLKObF8XAZ0b1OwA1fNZs1kLdbC1XEDx7sWbZKWEWHt2DJPbfSuDv935YTvj_fw81dPwFHh3VNyEl2_7x915lvfbFqobHRBEmEKovR-IDbCbii5uQ34Fd8XNlJ4ZCVPCdVG663nNLR_FO5pxAvFtqoKe_kWJU_d8Ohp09PWLZ4ZUYIWt4JFfGiRNcuVJb71jkpjUhiDiyhsm2RBytfp5kr_HwiuJfoSwKqlXqDSBb524G6jZu-8-vBwGDZaW-4AfLxiZmiFTZpZnc9wflgqYsnIV3mbSGajx3t0Y-deRlrNKkQAC87gBjbsJtK4qgOLY_2ppBslOEWI0zUaYE_ukY98ZUAzn9Isqchrm_9t-gTRdcBRSmoHTPs89ihzHqdg9y7Wc17As4uAenPKoqZ4sWxoc03KTe2T-Li1oUYaiOb-yxSMirzqNdWKqj3a7O_IjvWZF61mkS3L28VorH6Zb3zz6DXYQpR8dWkL3UPrspWTtIalYYvHMuQDsWQkXFDRg0?cx_testId=1&cx_testVariant=cx_1&cx_artPos=0&cx_experienceId=EX5QKTVAZ65K&cxTrackingId=%7Bkpdx%7DAAAAwGxU-u3wsQoKdWdwOWc0YXpwdRIQbGpwc291cGRmbmp6ZHQyNhoMRVg1UUtUVkFaNjVLIiUxODA1cTNvMDhvLTAwMDAzMjk2Y2IxbDluYnVvbmUxNmlxNmlnKiBzaG93UmVjb21tZW5kYXRpb25zTEhMV1JKMTU4WVpNOFISdi1sanByeWgwdTh2N2t4MzJ0WiYyYTAyOmM3Yzo5YTJhOmZiMDA6MTEyMjo0NzQ2OjUyMzA6OWEwN2IDbWljaIqWm6UGcAF4GA
Very interesting as everything unravels
 
Danny Ocean said:
Well, it shows that Sadler paid a fair price for the club and not way over the nearest bid, which some posters on here have suggested.

It also looks like we missed out on a Malaysian bidder who allegedly had been a supporter of the club since they were 2.:)

On a more serious note if Pilley had been successful with his bid imagine what would be happening to the club right now.
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I think we can all see the huge issue that would be facing the club, but Fleetwood fans seem oblivious to it, seemingly thinking nothing will change.

Quite bizarre.
 
Only £8.2 mill for all of BFC, the stadium, hotel, Squires Gate TG and some properties (Henry St?) ???
Mr Sadler got an absolute bargain. I thought he had ended up paying somewhere in the range £10-12 mill.
Mind you, Covid and lockdown must have cost him a few million more.
 
Well, I've had a good read of that and understood about 30% of it, but the salient points I picked out were:

Well done to the Receivership team for not allowing the assets to be carved-up and sold off separately, both to make it more attractive to a buyer and in the best interests of the club long term (i.e. a club without a stadium to play at is both pointless and the last nail in the coffin).

Danaxe? Yes, no doubt a registered company but that and numerous other subsidiaries sounds incredibly dodgy.

Please give SS a bit of slack and take a step back just to consider the long game. Relegation from the Championship was crap, but that's all it is. The club is the important thing and SS seems a good bloke to me. He will be smarting from the debacle of last year and seems determined to make us a force again, albeit in League 1.
 
Along with his virtual day out at the Magistrates Court old Catweazle has had a chastening few days. There's even talk of sending the bailiffs in to secure enough assets to cover his council tax arrears. This is something I never thought I'd say but - you have to feel for the bailiffs 😬🤣
 
TwelveAngryMen said:
Don’t profess to know who the £7.5m bid for the football assets was from ( the CAR kept his cards close to his chest on that ) but don’t believe it was AP
I’d say Mossers suggestion is more plausible
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Does add up when you take into account his comments in the media that Owen was wronged and should win his appeal. Ran out of money for the hotel and took Scunny to non league. Wasn't his steel company in trouble too. There were also threats to Sue one of their fans and I wonder if that was dropped in the end? Peas in a pod springs to mind
 
koudo said:
Does add up when you take into account his comments in the media that Owen was wronged and should win his appeal. Ran out of money for the hotel and took Scunny to non league. Wasn't his steel company in trouble too. There were also threats to Sue one of their fans and I wonder if that was dropped in the end? Peas in a pod springs to mind
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Isn’t it Wilkinsons that his wife’s family owns?
 
Archibald Knox said:
Only £8.2 mill for all of BFC, the stadium, hotel, Squires Gate TG and some properties (Henry St?) ???
Mr Sadler got an absolute bargain. I thought he had ended up paying somewhere in the range £10-12 mill.
Mind you, Covid and lockdown must have cost him a few million more.
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£8 million for the right to lose millions a year and spend millions more repairing the infrastructure? Bargain …
 
TwelveAngryMen said:
Don’t profess to know who the £7.5m bid for the football assets was from ( the CAR kept his cards close to his chest on that ) but don’t believe it was AP
I’d say Mossers suggestion is more plausible
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I’m coming round to that view as well.

Although I don’t understand why he’d only want the stadium and the training ground though.

A club without a stadium would be virtually worthless and unsaleable by the Receivers (which was the reason why the football assets were always going to be sold together). If he was looking to rent out BR to the club then he was taking a big risk that a buyer would be found by the receivers who was prepared to take us on without a ground.

Plus at the time he’d have been subject to the EFL prohibition on dual ownership.

Very odd.
 
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The club is unlikely to ever do anything to honour his worshipful bringer of hope and Joy unfortunately?

However, maybe the Armfield club can do something?
I’d have loved a mural of him sending Rapey packing somewhere done by Purdonkey
 
Mex - thanks for sending the link. The judgment makes interesting reading and a few things stand out for me:

1. Sadler"s offer was apparently the best offer and the one which placed the future of the football club at its heart. Pilley's offer was both less and focused on property assets. The Malaysian offer appeared to be superficial.
2. The sale needed to go through quickly because the club was in real danger of folding.
3. That O and his lawyers had the opportunity to raise objections to the valuation and the composite sale at the sanctions hearing but chose not to do so. If they had a different approach may have been adopted by Marcus Smith and the Receivers.
4. That the valuations that O got of the stadium (£25m) and training ground (£1.5m) seemed wildly unrealistic.
5. That all the judges are smart persons analysing the cases in forensic detail and setting out their reasons to minimise the chances of a successful challenge.
6. This is once again about O chasing money. He has lost money and failed to get it from others, so he thought he would have a go at the receivers this time. And once again he has failed in court and wasted piles of dosh on legal fees. Life is grand eh, Mr O?
 
bfcpete said:
Mex - thanks for sending the link. The judgment makes interesting reading and a few things stand out for me:

1. Sadler"s offer was apparently the best offer and the one which placed the future of the football club at its heart. Pilley's offer was both less and focused on property assets. The Malaysian offer appeared to be superficial.
2. The sale needed to go through quickly because the club was in real danger of folding.
3. That O and his lawyers had the opportunity to raise objections to the valuation and the composite sale at the sanctions hearing but chose not to do so. If they had a different approach may have been adopted by Marcus Smith and the Receivers.
4. That the valuations that O got of the stadium (£25m) and training ground (£1.5m) seemed wildly unrealistic.
5. That all the judges are smart persons analysing the cases in forensic detail and setting out their reasons to minimise the chances of a successful challenge.
6. This is once again about O chasing money. He has lost money and failed to get it from others, so he thought he would have a go at the receivers this time. And once again he has failed in court and wasted piles of dosh on legal fees. Life is grand eh, Mr O?
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Thanks Pete.

I think the jury is out at the moment about whether the mystery bidder (local businessman with an interest in a rival club) was Pilley or Peter Swann (then owner of Scunthorpe).

It’s also a mystery to me why they’d only want the stadium and the training ground but apparently not the club (even given the EFL prohibition on dual ownership).

What was the plan?
 
Having dealt with Swann in Lincolnshire on busineess matters, he was definitely another one to avoid. Oyston, Pilley and Swann - what a trio. Football does seem to attract some rogues.
 
bfcpete said:
Mex - thanks for sending the link. The judgment makes interesting reading and a few things stand out for me:

1. Sadler"s offer was apparently the best offer and the one which placed the future of the football club at its heart. Pilley's offer was both less and focused on property assets. The Malaysian offer appeared to be superficial.
2. The sale needed to go through quickly because the club was in real danger of folding.
3. That O and his lawyers had the opportunity to raise objections to the valuation and the composite sale at the sanctions hearing but chose not to do so. If they had a different approach may have been adopted by Marcus Smith and the Receivers.
4. That the valuations that O got of the stadium (£25m) and training ground (£1.5m) seemed wildly unrealistic.
5. That all the judges are smart persons analysing the cases in forensic detail and setting out their reasons to minimise the chances of a successful challenge.
6. This is once again about O chasing money. He has lost money and failed to get it from others, so he thought he would have a go at the receivers this time. And once again he has failed in court and wasted piles of dosh on legal fees. Life is grand eh, Mr O?
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How many times? IT DEFINITELY WASNT PILLEY
 
Martonmosser said:
How many times? IT DEFINITELY WASNT PILLEY
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What I don’t get is what Swann’s plan was in only bidding for the stadium and training ground. He was hardly going to move Scunny to the Fylde Coast, so was he hoping someone else would pick up BFC for a song and he’d make a killing on the rent? Or that, without a ground, BFC would be unsaleable and wound up? And that that would somehow get around the community asset rule and allow him to redevelop?

Just goes to show the Receivers and the Court of Appeal got it right not to split the football assets and insist the club and real estate were all sold together.
 
Mexboroseasider said:
What I don’t get is what Swann’s plan was in only bidding for the stadium and training ground. He was hardly going to move Scunny to the Fylde Coast, so was he hoping someone else would pick up BFC for a song and he’d make a killing on the rent? Or that, without a ground, BFC would be unsaleable and wound up? And that that would somehow get around the community asset rule and allow him to redevelop?

Just goes to show the Receivers and the Court of Appeal got it right not to split the football assets and insist the club and real estate were all sold together.
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One possibility is that Mr Scunthorpe might be a rogue but I get the impression he's not the sharpest knife. Maybe he forgot or dismissed the importance of the Asset of Community Value status secured by BST? Maybe he was therefore working on the assumption he could develop the land and assets and let the club fold? Or more likely, flip the proceeds for a fee for development by some outfit or other with deeper pockets?
 
Mark_GT said:
One possibility is that Mr Scunthorpe might be a rogue but I get the impression he's not the sharpest knife. Maybe he forgot or dismissed the importance of the Asset of Community Value status secured by BST? Maybe he was therefore working on the assumption he could develop the land and assets and let the club fold? Or more likely, flip the proceeds for a fee for development by some outfit or other with deeper pockets?
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Dunno. Would Community Value Status survive the winding up of BFC?

Thank feck Sadler secured the club is all I can say. At least now all the other scenarios are just hypothetical. People would do well to remember what could have been when they’re posting doom and gloom.

And!!! if OO had won his appeal I wouldn’t have been surprised if his next move was to apply to set aside the sale!!! Little chance of success I’d have thought but Owen being Owen I wouldn’t have ruled out an application along those lines.
 
Mexboroseasider said:
Dunno. Would Community Value Status survive the winding up of BFC?

Thank feck Sadler secured the club is all I can say. At least now all the other scenarios are just hypothetical. People would do well to remember what could have been when they’re posting doom and gloom.

And!!! if OO had won his appeal I wouldn’t have been surprised if his next move was to apply to set aside the sale!!! Little chance of success I’d have thought but Owen being Owen I wouldn’t have ruled out an application along those lines.
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Yes, on the Asset of Communirty Value front hopefully we will never have to find out the hard way. Other clubs might though. I get the impression there are plenty in broadly comparable positions.
 
basilrobbie3 said:
And he's just left Scunthorpe under something of a cloud, having masterminded their surge to ... er.... National League North.
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If we are talking about Mr Swann he is trying - or should I say he was doing the last I heard - to get back the fortunes that he spunked punting.

Given the lack of success in other recent similar cases, I don't think he should hold his breath.

He lost plenty to a bookie, then he owed them plenty and agreed to a repayment plan, then he knocked them and now he wants his losses back.

I can't remember the exact figures but he swears he never used a penny of the money in Scunthorpe to punt with.
 
TKL_Seasider said:
£8 million for the right to lose millions a year and spend millions more repairing the infrastructure? Bargain …
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SS did his due diligence with the Receivers. He knew he was going to have to fund a heck of a bill for improvements. Hence his “low” offer, but reality might have been even worse than he expected. However it was the Covid hit that was unpredictable.
 
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