Indian businessman interested in buying out Americans 11:00 - Jul 21 with 5581 views | E20Jack | IS VJ MALLYA BUYING SWANSEA CITY FC? India media are running a rumour that VJ Mallya, the disgraced former chairman of United Spirits, wants to buy a Premier League football team, specifically Swansea City, for about £110m. The team, which narrowly avoided relegation last season, would add to his portfolio of sporting interests, including the Force India Formula 1 team (which he is said to be in the process of renaming the better to attract sponsors) and the Royal Challengers Bangalore Indian Premier League cricket franchise. Swansea was taken over by an American consortium just over a year ago. Neither side has commented on the rumours. Mallya, who has been declared a “wilful defaulter” by Indian courts as well as being found in contempt of the Supreme Court for failing to make a full disclosure of his assets, is contesting extradition from Britain to India after fleeing to the UK in March 2016. At the centre of the case is some £1.1bn in debts and interest Indian banks claim Mallya owes them. He has always contested this sum and maintains that he wishes to agree a settlement. Meanwhile, India’s legal authorities have now delivered to the Crown Prosecution Service details of the charges against Mallya. They include laundering some £150m through various shell companies in India, Ireland, the US, France and the Seychelles. That money is alleged to have been part of a loan to Mallya’s now bankrupt Kingfisher Airlines from IDBI bank, formerly the Industrial Development Bank of India. It was said to have been used for purposes such as aircraft leasing and maintenance but, it is alleged, no confirming records have been found. Mallya denies all the charges all charges against him and claims they are politically motivated. One of his arguments is that Indian jails are substandard compared with European institutions and thus, as he will be imprisoned to await trial immediately he sets foot in India, he will be caused undue suffering. India’s government has told Britain that anyone extradited from the UK will be lodged in a jail with proper facilities but that nobody will be given preferential treatment. It claims that it has already instructed the Maharashtra regional government to upgrade Mumbai’s Arthur Road prison where Mallya will be held if he is extradited. The full court hearing on the extradition warrant will be start on December 4. Meanwhile Mallya remains on bail in the UK. | |
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Indian businessman interested in buying out Americans on 11:03 - Jul 21 with 3357 views | Pegojack | Would he pass the 'fit and proper person' ownership test? Not that I have much faith in that. | | | |
Indian businessman interested in buying out Americans on 11:06 - Jul 21 with 3327 views | swanjackal | Sounds like a principled fella. | |
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Hypocritically hypocritical ! |
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Indian businessman interested in buying out Americans on 11:10 - Jul 21 with 3296 views | Joe_bradshaw | Huw would get on well with him. | |
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Indian businessman interested in buying out Americans on 11:14 - Jul 21 with 3262 views | Swanjaxs | File under "load of bolloxs" 😂 | |
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Indian businessman interested in buying out Americans on 11:15 - Jul 21 with 3259 views | Dewi1jack | This story will certainly focus Trust members on the wording of Drag rights in the deal so graciously offered by the Merrycans even though no-one seems to know if it matches the sellout scums deal. Never know. Maybe this lad would actually hold the Trust as a valued shareholder and have meaningful dialogue with them or at least listening to them properly. https://www.thedrinksbusiness.com/2017/07/is-vj-mallya-buying-swansea-city-fc/ In case you didn't add a link. | |
| If you wake up breathing, thats a good start to your day and you'll make many thousands of people envious. |
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Indian businessman interested in buying out Americans on 11:17 - Jul 21 with 3233 views | oldcob | The present board are a bunch of cowboys, so is it time to give the Indians a go? | | | |
Indian businessman interested in buying out Americans on 11:17 - Jul 21 with 3233 views | Loyal |
Indian businessman interested in buying out Americans on 11:03 - Jul 21 by Pegojack | Would he pass the 'fit and proper person' ownership test? Not that I have much faith in that. |
I think he fits the bill perfectly for football club ownership. I can't see the issue here. | |
| Nolan sympathiser, clout expert, personal friend of Leigh Dineen, advocate and enforcer of porridge swallows.
The official inventor of the tit w@nk. | Poll: | Who should be Swansea number 1 |
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Indian businessman interested in buying out Americans on 11:18 - Jul 21 with 3229 views | E20Jack |
Indian businessman interested in buying out Americans on 11:15 - Jul 21 by Dewi1jack | This story will certainly focus Trust members on the wording of Drag rights in the deal so graciously offered by the Merrycans even though no-one seems to know if it matches the sellout scums deal. Never know. Maybe this lad would actually hold the Trust as a valued shareholder and have meaningful dialogue with them or at least listening to them properly. https://www.thedrinksbusiness.com/2017/07/is-vj-mallya-buying-swansea-city-fc/ In case you didn't add a link. |
This guy has a history of setting up shell companies too, something yesterday one or two couldn't wrap their heads around. | |
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Indian businessman interested in buying out Americans on 11:18 - Jul 21 with 3221 views | Dewi1jack |
Indian businessman interested in buying out Americans on 11:03 - Jul 21 by Pegojack | Would he pass the 'fit and proper person' ownership test? Not that I have much faith in that. |
The mad Italian Cellino at Leeds just about managed it. And the ummm ahhh questionable characters at Blackburn, Portsmouth, Cardiff etc See why you have no faith in the fit and proper persons test | |
| If you wake up breathing, thats a good start to your day and you'll make many thousands of people envious. |
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Indian businessman interested in buying out Americans on 11:22 - Jul 21 with 3179 views | Loyal | If I had that much money I would have Huw Jenkins dressed as a rabbit licking his balls feeding me liquorice allsorts from his anus. And as for Dineens bulk vending syaytem. | |
| Nolan sympathiser, clout expert, personal friend of Leigh Dineen, advocate and enforcer of porridge swallows.
The official inventor of the tit w@nk. | Poll: | Who should be Swansea number 1 |
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Indian businessman interested in buying out Americans on 11:24 - Jul 21 with 3164 views | jackjackjackjack | Tony Fernandez, who was owner of the Caterham F1 team, did wonders at QPR when he took them over. | |
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Indian businessman interested in buying out Americans on 11:48 - Jul 21 with 3030 views | hobo | It's looking increasingly likely that litigation is the only way for us | | | |
Indian businessman interested in buying out Americans on 11:51 - Jul 21 with 3002 views | jack247 | He sounds just what we need | | | |
Indian businessman interested in buying out Americans on 11:55 - Jul 21 with 2969 views | Meraki |
Indian businessman interested in buying out Americans on 11:03 - Jul 21 by Pegojack | Would he pass the 'fit and proper person' ownership test? Not that I have much faith in that. |
We don't even know who ACTUALLY owns us at the moment. Some dodgy anonymous shell company in Delaware apparently. | | | |
Indian businessman interested in buying out Americans on 12:06 - Jul 21 with 2894 views | Swans_16 | To be honest i've lost all interest in who owns us now. As long as they're willing to make our club bigger and better with no dodgy underhand dealings then i'll be happy. We need to make our club bigger and better. | | | |
Indian businessman interested in buying out Americans on 12:08 - Jul 21 with 2869 views | monmouth |
Indian businessman interested in buying out Americans on 12:06 - Jul 21 by Swans_16 | To be honest i've lost all interest in who owns us now. As long as they're willing to make our club bigger and better with no dodgy underhand dealings then i'll be happy. We need to make our club bigger and better. |
Indians are good at that, just look at Venkys. | |
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Indian businessman interested in buying out Americans on 12:14 - Jul 21 with 2826 views | harryhpalmer | do you really think the Americans would spin the club for such a small profit, once you take into account all the fees they will need to spend as part of the sale? these guys are used to making big profits. I smell sacred cow's bi-product. | |
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Indian businessman interested in buying out Americans on 12:33 - Jul 21 with 2711 views | Dewi1jack |
Indian businessman interested in buying out Americans on 12:14 - Jul 21 by harryhpalmer | do you really think the Americans would spin the club for such a small profit, once you take into account all the fees they will need to spend as part of the sale? these guys are used to making big profits. I smell sacred cow's bi-product. |
Quick profit if the trust members vote for litigation? Or take the chance in Court, possibly losing just as we're relegated and having to pay £21 million on top of losing around £100 million TV money? Comes down to risk management I s'pose | |
| If you wake up breathing, thats a good start to your day and you'll make many thousands of people envious. |
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Indian businessman interested in buying out Americans on 12:33 - Jul 21 with 2711 views | Swans_16 |
Indian businessman interested in buying out Americans on 12:14 - Jul 21 by harryhpalmer | do you really think the Americans would spin the club for such a small profit, once you take into account all the fees they will need to spend as part of the sale? these guys are used to making big profits. I smell sacred cow's bi-product. |
Same, i don't for a second think this is true. The Americans will not want to sell after a year anyway. | | | |
Indian businessman interested in buying out Americans on 12:33 - Jul 21 with 2710 views | UplandsJack |
Indian businessman interested in buying out Americans on 12:14 - Jul 21 by harryhpalmer | do you really think the Americans would spin the club for such a small profit, once you take into account all the fees they will need to spend as part of the sale? these guys are used to making big profits. I smell sacred cow's bi-product. |
Have you thought for one second that this just might be for their shares? If so, not a bad return if you ask me. Bought for less than £70 million and sold for £110 million in 12 months.... | | | |
Indian businessman interested in buying out Americans on 12:35 - Jul 21 with 2690 views | swanforthemoney | This type of offer is the likely exit strategy for Levein and Kaplan IMHO. But theyd want a higher valuation. All this talk of asset stripping the club is nonsense, it's not how these type of guys make their money. They do it by buying a business, INCREASING its value by cost cutting and increasing sales and then selling it on to another sucker. Unfortunately this is the position we find ourselves in. I hope this one falls through. | |
| I stand in the North Stand
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Indian businessman interested in buying out Americans on 12:38 - Jul 21 with 2674 views | hobo |
Indian businessman interested in buying out Americans on 12:14 - Jul 21 by harryhpalmer | do you really think the Americans would spin the club for such a small profit, once you take into account all the fees they will need to spend as part of the sale? these guys are used to making big profits. I smell sacred cow's bi-product. |
They have probably been advised by their own legal team that should the Trust take them to court then the Trust will likely win. Maybe they know it will be too expensive for them | | | |
Indian businessman interested in buying out Americans on 12:43 - Jul 21 with 2634 views | E20Jack |
Indian businessman interested in buying out Americans on 12:14 - Jul 21 by harryhpalmer | do you really think the Americans would spin the club for such a small profit, once you take into account all the fees they will need to spend as part of the sale? these guys are used to making big profits. I smell sacred cow's bi-product. |
£75m is what they paid for the 68% shares wasn't it? £35,000,000 or $45,000,000 (46% ROI) is one hell of a cash out after a year, regardless of red tape costs. Especially after the close shave we had last year and a legal case 'potentially' on the horizon in which they clearly have no confidence in winning. Do I think this story is true? No. Do I think a story similar to this could become reality in the not too distant future? Absolutely. | |
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Indian businessman interested in buying out Americans on 12:49 - Jul 21 with 2579 views | Neath_Jack | Only a matter of time before we get royally arse f*cked and find ourselves in the bottom leagues or worse. Which is why it's important that the Trust can get enough coin and get the f*ck out of dodge until the aforementioned scenario comes to fruition. | |
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Indian businessman interested in buying out Americans on 13:01 - Jul 21 with 2509 views | E20Jack |
Indian businessman interested in buying out Americans on 12:49 - Jul 21 by Neath_Jack | Only a matter of time before we get royally arse f*cked and find ourselves in the bottom leagues or worse. Which is why it's important that the Trust can get enough coin and get the f*ck out of dodge until the aforementioned scenario comes to fruition. |
It is inevitable sadly and always will be until the Trust can acquire enough shares to stop it from happening. The offer from the Americans most certainly is nowhere near enough to acquire a decent professional club in good health. | |
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