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Due Diligence

Graham S

By Graham S
in Ebbsfleet United Forum

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Graham S Newbie

Graham S

Posted
Posted

Latest post from Will Brooks:

 

"I hope you excuse a shorter than usual Diary entry. There’s a limit to how much “nearly there” talk anyone can take.

 

As you can imagine, much work took place over Christmas. Both last week and this have been extremely busy too.

 

The good news is, I’m very confident this will be the last-ever pre-takeover Diary. Due Diligence is a whisker away from becoming Done & Dusted.

 

Everything I hear and read leads me to believe that we will complete in the very near future, less than nine months since the phase one website launched on 26 April 2007.

 

The next main article will be from the Legal Team."

 

My guess, putting this together with Brian's comments in The Times:

 

1. It will be finished this month but obviously too late for the 21 days to squeeze in the extraordinary shareholders meeting before the end of the transfer deadline.

 

2. The directors will stump up for player intake that would have happened, had things gone through on time, on the understanding that they are re-paid when it is all settled.

 

Then again I could be chatting rubbish. I'm told I do that sometimes.

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DA11 Newbie

DA11

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Posted
Originally Posted By: PatMan
Am I right on thinking that once DD is over and the directors have their vote... Don't MyFC have to have a vote to accept the outcome? Or is it just 'accepted' that the members will agree to the club being EUFC? Just thought I read that somewhere...


I think the official line is that the members get to vote if they want to choose us. However, I believe this is just to make members feel they have been involved in the selection process of the club. At the end of the day Will Brooks chose the club and this is his decision. I know I will be shot down for those comments.
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John Pearce Newbie

John Pearce

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Posted
Originally Posted By: Yorkfox
MYFC do indeed have to vote on the deal. One of 3 votes that will probably happen very soon. The others being about the Kit, and the 3rd about transfer funds. Dont ask me for more details, I dont have any :-)


Thats okay then, it should be around Christmas before anything is finalised?

And they want to vote to select the team each week?

Bloody ridiculous
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vander Newbie

vander

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The length of time that the DD has taken is not down to MYFC but the financials and legalalities that have to be completed, it would have taken the same amount of time no matter who had bought the club. The length of time that the voting process on MYFC will take hasn't been tested yet so we will have to wait and see but I suspect it will be fairly speedy.

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John Pearce Newbie

John Pearce

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Posted
Originally Posted By: vander
The length of time that the DD has taken is not down to MYFC but the financials and legalalities that have to be completed, it would have taken the same amount of time no matter who had bought the club. The length of time that the voting process on MYFC will take hasn't been tested yet so we will have to wait and see but I suspect it will be fairly speedy.


Okay, just in time for this season to end then?
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Jeff Newbie

Jeff

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I think it would be folly to do anything this season.

 

We're going along nicely.

 

The rest of this season and the close season would give both the existing board, Liam, Alan, the squad and the MyFC top boys time to assess the situation and work out the best way forward FOR THE FLEET.

 

Watch and learn the nuances of non league football rather than wade into something you have little understanding of.

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vander Newbie

vander

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Posted
Originally Posted By: Jeff
I think it would be folly to do anything this season.

We're going along nicely.

The rest of this season and the close season would give both the existing board, Liam, Alan, the squad and the MyFC top boys time to assess the situation and work out the best way forward FOR THE FLEET.

Watch and learn the nuances of non league football rather than wade into something you have little understanding of.


If this is aimed at me then I wasn't referring to anything other than the facts of the purchase and the subsequent vote of approval. As it happens I agree with you about seeing how things go before wading into anything as I do have a lot of experience of football at local level.
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Jeff Newbie

Jeff

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[quote=vander

If this is aimed at me then I wasn't referring to anything other than the facts of the purchase and the subsequent vote of approval. As it happens I agree with you about seeing how things go before wading into anything as I do have a lot of experience of football at local level.

 

Well, seeing I have no idea who you are, no it wasn't.

 

I just am thinking along the lines of integrating it in with a kind of 'Road Map'* for how the whole MyFC community will operate and how that will most benefit the Fleet.

 

As I currently see it from reading what is basically an internet forum that I have paid to read, I would say that the Fleet are the better run outfit of the two.

 

That's no dig at MyFC. It is a new concept and needs to be integrated.

 

* I'm sorry for using the word 'Road Map'. I am being corrupted at work.

 

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waggamick Newbie

waggamick

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I'm in Public Education(28 years) and am yet to see the slightest sign of integration, forethought or basic planning, and its getting worse.

Uk's probably not too different...living in a knee-jerk response driven adhocracy.

 

A positive from the lengthy DD is that the time may have been used by MYFC to instigate some basic planning, forethought and integration.

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Riverview Supporter Newbie

Riverview Supporter

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Posted
Originally Posted By: Jeff
No. IT.

Have seen so many projects rushed into and fail due to lack of integration, forethought or basic planning.



Thats why I got out. The only project that I ever saw complete on time and correctly was my oportunity to get out. And now , I am doing projects in the rail iundustry. And you think IT is a mess , try the legal and rule entrenched transport indsutry in this country. Its taken me 18 weeks to get permission to paint a wall.
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