Takeover update from this evening's Fans' Forum

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A takeover specific Fans' Forum meeting took place at The Valley this evening.

The meeting followed August's full Fans' Forum meeting which saw the club answer questions from fan representatives on the takeover.

As with that meeting, this evening's was attended by fan representatives, club staff and Lieven De Turck (LDT), who is representing the club in takeover talks. The below notes were produced by the club and approved by fan representatives at the meeting.

LDT first updated on the two parties talked about previously:

  • The Australians still have to lodge a few documents with the EFL. They haven’t done this yet. They have said they are working on it and they are confident they will do it. It is worth noting the group is now not just ‘the Australians’ but it is ‘the Australians and groups linked to the Australians’. LDT said from the beginning they (the group) have been fair with what they told him. When asked about why it is taking so long LDT said “When I listen to them, it is about their complexity”. He explained everything is negotiated and there are no outstanding issues between the club and them. He said they have spent money on the takeover process and that you don’t spend so much money unless you are serious. He said they are still positive but added that may be that is their nature. He said he's still positive but he had hoped it would have been done by now 
  • On the second party, he said since the last meeting they have become more active. He said he had them on the phone this morning to ask them if there was something he could say in the meeting but explained they said they want to stay off the radar 

LDT said he has started to talk with three other parties:

  • One party has visited the club already, LDT said they are not from the UK but they are European. They have been given access to the data room and are spending money doing due diligence. LDT said he gets regular questions from them so he knows they are working on it. He said they have some work to do and they have yet to present an offer
  • The fourth party LDT is waiting for documents on. He said he needs proof of funds and no NDA has been signed so it is still very early days 
  • The fifth party he has had a meeting with and they have asked for time to make up their minds

On price he said he doesn’t exclude any party from initial conversations. He said he’s open to listen to every proposal within the room that is set.

As mentioned previously any change of control at the club is not as a result of the parties waiting for the EFL to process the necessary documentation.

LDT said as part of any deal you need willingness, money and trust. He said a person visited The Valley a few weeks ago, signed an NDA on a Tuesday and then something went on Twitter on the Wednesday meaning the trust had gone, he said nothing is being progressed with that party. He explained trust and transparency are very important in any deal, especially as you need to share sensitive information.

The next Fans’ Forum is set for November 21st.

For more information on the Fans' Forum click here. 

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