[Football] Southampton supposedly being bought for £100m

London Irish · Jan 4, 2022

https://twitter.com/markkleinmansky/status/1478339293596770306?s=21

Being worth 2 Ben White's doesn't seem much (particularly when they let him go originally)

Bombardier · Jan 4, 2022

Way too cheap!

Joey Jo Jo Jr. Shabadoo · Jan 4, 2022

Dragan Solak sounds like a character from Game of Thrones.

Titanic · Jan 4, 2022

Presumably they have some substantial debts??

Calling #dullard

Harry Wilson's tackle · Jan 4, 2022

Joey Jo Jo Jr. Shabadoo said:
Dragan Solak sounds like a character from Game of Thrones.

Is this their belated attempt to match their great rivals (the twatts) and find their own Milan Mandarić?

I wish them equally well. Great club

:facepalm:

Springal · Jan 4, 2022

Doesn't sound much ? I thought generally the value of a PL football club was £200M+ ? I think Burnley were bought for £170M-£200m ish right?

Seemingly based on debts and presumably taking on those liabilities as well

London Irish · Jan 4, 2022

Titanic said:
Presumably they have some substantial debts??

Calling #dullard

Yup you'd think the Enterprise Value figure must be higher

Swansman · Jan 4, 2022

Chinese real estate bloke... probably broke and desperate to sell.

New guy appears to own a couple of TV channels in Serbia, Bulgaria etc... probably not going to invest Saudi levels of money.

London Irish · Jan 4, 2022

He doesn't seem flavour of the month with the Serbian government so could be a clever attempt to get some of his assets out of Dodge City and raise his international profile by helping out charitable causes

London Irish · Jan 4, 2022

EV is £200-250m, which is apparantly average for clubs in the middle bit of the Prem, guess we wouldn't be too far away from that then

El Presidente · Jan 4, 2022

Titanic said:
Presumably they have some substantial debts??

Calling #dullard

You rang?

They took out a big loan from MSD at 9% interest so that is included in the deal.

It’s the equivalent of buying someone’s house for £200k but as part of the agreement taking on their mortgage of £100k and paying them £100k. The value of the house is the sum of the two amounts.

Farehamseagull · Jan 4, 2022

Hmmm. Despite my total dislike of that club, I do worry about the future for them. Whilst the media have been saying how well run they are for years and I’ve read on here numerous times that they are a club we should aspire to, they really haven’t been well run for a long time and their highly praised acadamy has not produced real quality for some time. And I say this as someone with a son in their system.

This new buyer really doesn’t sound that attractive and the type we’ve seen many times in recent years when we’ve questioned how they pass the fit and proper test when it all goes wrong. As mentioned above, it does smell a bit Pompey.

As much as I despise them, I would not want them to fall too far as moments like Trossard’s winner and Maupay’s equaliser are just too precious to me!

Blue3 · Jan 4, 2022

The outgoing chairman Mr Jishengs a Chinese billionaire property magnet was vey quick to seal this deal for a cut price £100 million ( WHU just recently sold for £700 million)

I assume Southampton must either have colossal debts or that Mr Jishengs property businesses back home are in big trouble and he needs cash fast having said that over the past six months a huge Chinese construction company Evergrande with a £222 billion turn over have been unable to meet their loan repayments quite likely some link between the two

Lower West Stander · Jan 4, 2022

El Presidente said:
You rang?

View attachment 143404

They took out a big loan from MSD at 9% interest so that is included in the deal.

It’s the equivalent of buying someone’s house for £200k but as part of the agreement taking on their mortgage of £100k and paying them £100k. The value of the house is the sum of the two amounts.

9%! Bloody hell.

That is an unreal rate - especially considering when they took it out. What's it secured on? Can't be St Mary's at that level.

No wonder he wants to sell....

nicko31 · Jan 4, 2022

Blimey. Biss is worth more than that...

dazzer6666 · Jan 4, 2022

Lower West Stander said:
9%! Bloody hell.

That is an unreal rate - especially considering when they took it out. What's it secured on? Can't be St Mary's at that level.

No wonder he wants to sell....

That's the first thing that struck me.......at that kind of rate you'd almost think the money was lent by someone trying to make/take ££££ out of the club rather than a negotiated commercial bank loan

timbha · Jan 4, 2022

dazzer6666 said:
That's the first thing that struck me.......at that kind of rate you'd almost think the money was lent by someone trying to make/take ££££ out of the club rather than a negotiated commercial bank loan

Surely no club would be silly enough to do that,

unless of course someone within the club stood to gain. In the normal world such a conflict of interest would have to be declared however in the shady world of football it’s seen as a right!

Giraffe · Jan 4, 2022

Lower West Stander said:
9%! Bloody hell.

That is an unreal rate - especially considering when they took it out. What's it secured on? Can't be St Mary's at that level.

No wonder he wants to sell....

I'd say that is quite a fair market rate given the risk. It's quasi equity at that level with no prospect of being repaid without the sale of the business or replacement investment from internal or external investors.

dazzer6666 · Jan 4, 2022

timbha said:
Surely no club would be silly enough to do that, unless of course someone within the club stood to gain. In the normal world such a conflict of interest would have to be declared however in the shady world of football it’s seen as a right!

Um, yes. That's what I was implying :lolol:

Springal · Jan 4, 2022

MSD is Michael Dell right ?

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[Football] Southampton supposedly being bought for £100m

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