MYFC Stalling (according to Grauniad) ?

[Graham S]

Latest article from MyFC. Wild garlic & crosses at the ready for the Will Brooks phobics:

 

"...The financial due diligence is now complete and we believe that the lawyers have now received all the documentation needed to prepare a report. We remain very confident about the outcome of our negotiations. However, as with all due diligence of this nature, there needs to be some further discussions about the results of the findings. After all, this is the purpose of due diligence.

 

"We believe that these issues will be resolved and the agreement finalised for the start of January 2008. We will then be able to give members more detail about the proposed transaction to enable an informed choice.

 

"There will then be a secondary vote on whether to approve any January transfer window activity. Due to the time pressure of the transfer window, it makes sense to get this ‘green light’ so that it can be acted upon the moment the deal goes through. As explained in the previous MyFC Diary, all EUFC player contracts run out at the end of April 2008. It’s possible that Liam Daish will want to secure a number of these current players until April 2009. He may also wish to bring in some fresh faces, players he’s been looking at during the first half of the season.

 

"We remain of the view that Ebbsfleet United is by far the best option from the 12 football clubs we looked closely at.

 

"If members decide to proceed, we will then enter into the relevant agreements and there will need to be a period of notice given to EUFC shareholders in order for them to vote on the proposed deal at an extraordinary general meeting (EGM). We anticipate that the result of this vote will be favourable.

 

"Completion of the transaction can then take place immediately following this EGM. We are confident that this will occur prior to the closing of the January transfer window."

 

 

[David Holden]

The notice period for an Extraordinary General Meeting to pass a special resolution is 21 days, so getting it done by the end of January is cutting it fine.

[Jeff]

I can us missing out in the transfer window due the legal processes involved with all this.

 

Is there any money currently within the club that can be used in the transfer market if all this has not gone through?