Thursday, December 07, 2006

Takeover time?

This story is still shrouded in a little mystery, but seems to be gathering more momentum as the day goes on and I expect more to be revealed over the course of the weekend.

It broke early this morning with an announcement that the club were in discussion regarding serious investment into the club, but gave nothing more away. Could this have been a smokescreen ahead of the AGM to deflect what could have been a tricky time for the board?

Anyhow, as the day has worn on it seems that rather than just an investor coming on board, it could lead to a full takeover with John Wardle stating he could be ready to 'pass the baton on', and the BBC reporting a full takeover - from an individual, could happen with a bid of around £70 million being mooted.

Wardle is still keeping his cards close to his chest, saying "We are not yet in a position to disclose the identity of the possible investor" - although this does appear to back up reports it is an individual rather than a consortium.

There have been plenty of rumours and interest over the past couple of years with nothing of any substance bearing fruit, but although it may be some way off before completion I cannot imagine an announcement of this nature being made without anything fairly concrete already in place.

Expect more on this soon.

John Wardle's speech to the AGM earlier today.

vote it up!

1 comment:

Edward said...

I am very concerned that my beloved City just aren't a viable investment opportunity.

The potential for branding just isn't there and we are all too aware of the dubious 250yr lease on our one asset, the stadium.

We may well be looking for a rich nut who loves the club to do a 'Jack Walker' because I just can't see anyone else fancying it.

ED