Reasons why takeover can take a while

[James1979]

People seem irritated that nothings happened this week but people don't just hand over a cheque for say 50m.
2 things mittals will need
1) Due diligence - you've got to know exactly what you're buying, even if you own part of the club already. As flav has control, the mittals may not know everything. Therefore, they need to investigate all items such debt, wages etc. They don't want to poay this 50m (using this number as an example btw) if they then find there's say a massive expense which they were unaware of which should half the price they should pay. This will all take time. People will say they should know all this....well maybe but they should also make damn sure that they check everything anyway.
2) Finance - how's mittal paying for this? Its unlikely that he just hands over 50m in suitcase ie. All his own money. In all likelihood, he'll try to get bank funding for part of it. That will be cheaper for him and also having bit of debt in the club is no bad thing. Again, this will take time.
Given the above it will take a while.
Finally, this doesn't mean nothing's been agreed. Mittals would probably have signed something to agree price but subject to a few things eg finance and due diligence.

There's too many rumours floating around for it all to be rubbish.

[New Cross R]

I agree. I think it'll take awhile, not a simple transaction, especially giving the issue with Caliendo and the money owed to him from Flavio.

[gilly]

and as we continue to plummet down the league the value of the club decreases

[Kit]

People seem irritated that nothings happened this week but people don't just hand over a cheque for say 50m.
2 things mittals will need
1) Due diligence - you've got to know exactly what you're buying, even if you own part of the club already. As flav has control, the mittals may not know everything. Therefore, they need to investigate all items such debt, wages etc. They don't want to poay this 50m (using this number as an example btw) if they then find there's say a massive expense which they were unaware of which should half the price they should pay. This will all take time. People will say they should know all this....well maybe but they should also make damn sure that they check everything anyway.
2) Finance - how's mittal paying for this? Its unlikely that he just hands over 50m in suitcase ie. All his own money. In all likelihood, he'll try to get bank funding for part of it. That will be cheaper for him and also having bit of debt in the club is no bad thing. Again, this will take time.
Given the above it will take a while.
Finally, this doesn't mean nothing's been agreed. Mittals would probably have signed something to agree price but subject to a few things eg finance and due diligence.

There's too many rumours floating around for it all to be rubbish.

I have said in a previous post, the company I work for got bought last year, negotiations started in May and the deal was done July 14th !
There is definately something going on and we do just have to be patient, if we go down then we will just have to reassess the situation but fingers crossed they can get it sorted sooner rather than later, to give us a half chance.