Not much of note in today's papers about us and Zabeel. The late Friday announcement might have have done for article deadlines in the broadsheets, in fact Millwall fan Rod Liddle in the Sunday Times wrote
about debt in football and potential investment but failed to mention us. He did dwell on the Hammers problems though and made me laugh with this:"I’ve never loathed West Ham United quite as much as I should, for a Millwall supporter. Geographic and demographic proximity, with an ancient contretemps over a dockers’ strike (in which my lot were the blacklegs, I believe) are the supposed causes of our mutual hatred. But I could never work up the requisite level of animus, not when there were those arriv-iste monkeys down the road at Selhurst Park, with their Sainsbury’s superstore, kit appropriated from Barcelona in a magnificently misplaced intimation of greatness."
I think we need to be careful during the next week or two, there will be a of radio silence punctuated by some lazy journalism. I don't expect that there will be a lot more from the club and it will be interesting to see if Derek Chappell and Bob Whitehand attend the Bromley Addicks meeting on Tuesday
. If they do, you should go along.
Due Diligence in my experience has scuperred many a deal. Normally over an agreed timescale it allows the purchaser to investigate the company into which it has entered into, in this case "an indicative offer"
to make sure everything is as has been proposed. Zabeel will look at the club's assets, it's debts, intellectual capital, contract situations, staffing, transfer records, insurances and verify material facts that Richard Murray et al would have disclosed to Zabeel and their advisors during negotiations.
Equally of course it should provide a great level of comfort for both parties, done wrongly though you get a Mike Ashley and Newcastle United balls up.
On a daily basis newspapers carry stories of takeovers and investments in football clubs. Most are consigned to holding Friday's cod and chips, in our case the offer appears to carry a lot of more weight. 75% acceptance of shareholders is needed to allow the takeover to be agreed. It is thought that the directors hold almost 90% of the total existing shares, so that piece of the puzzle looks a formality.
Hold tight for not much to happen in the next 10-14 days, however spare a thought for the companies employees. Merger and takeover speculation leads to nervousness and instability. Are job's safe, what is the future for members of the first team squad, the coaching staff and dear old tinkerPards? Derek Chappell, Steve Waggott and recently appointed managing director Stephen Kavanagh
will all naturally be thinking inward and not outward. I wonder how training will go tomorrow?
Interesting times ahead, God, what an understatement!