Re: Matthew Ellis Takeover : Tue May 23, 2023 1:50 pm  

ChatGPT is a fantastic thing, I wonder if AI would run Wakefield Trinity better than previous owners & CEOs

Here’s my answer on how to buy a pro Rugby League Club in the UK

The process for buying a professional rugby league club in the UK can vary depending on the specific circumstances and the league in which the club operates. However, here are some general steps that are typically involved:

Research and Evaluation: Begin by conducting thorough research on the available rugby league clubs in the UK. Evaluate the clubs based on various factors such as their financial stability, fan base, history, current performance, and potential for growth.
Financial Planning: Determine your financial capacity and develop a business plan for the acquisition. Assess the costs involved, including the purchase price of the club, any outstanding debts, player contracts, stadium costs, and ongoing operational expenses.
Identify Potential Clubs: Narrow down your choices and identify specific rugby league clubs that you are interested in acquiring. Contact the clubs or their representatives to express your interest and initiate discussions.
Due Diligence: Perform due diligence on the club you intend to buy. This process involves a thorough investigation of the club's finances, legal obligations, player contracts, and any other relevant aspects. Engage professionals such as lawyers and accountants to assist you in this stage.
Negotiation and Agreement: Once you have completed the due diligence process and are satisfied with the results, enter into negotiations with the current club owners. Discuss the terms of the acquisition, including the purchase price, payment structure, and any additional conditions.
Legal and Administrative Procedures: Engage legal counsel to draft the necessary legal documents, such as the purchase agreement and shareholder agreements. Complete any administrative procedures required by the relevant league or governing bodies.
Financing and Funding: Arrange the necessary financing for the acquisition. This may involve personal funds, bank loans, investment partners, or a combination of sources.
Club Takeover: Once all the agreements are signed and financing is in place, proceed with the club takeover. This may involve transferring ownership of shares, assuming control of operations, and addressing any outstanding obligations.
Transition and Management:Implement your business plan and begin managing the club's operations. This includes overseeing player recruitment, team management, marketing, and other aspects of running a professional rugby league club.
It's important to note that the process can be complex and may vary depending on the specific circumstances and the league in which the club operates. It is advisable to seek professional advice and guidance throughout the acquisition process to ensure a smooth and successful purchase.

Re: Matthew Ellis Takeover : Tue May 23, 2023 2:27 pm  

Probably fair to say that over 95% of people on this forum have not run a business, not been a director, a company shareholder, employer or sat in on board meetings, not to mention not being present at any of the meetings held so far.
Why they think they know what has gone on, been said or is happening is beyond me. Get back to fantasy island, shut the f#ck up and let things evolve. If you want the baddies out of town, let the goodies do their stuff and just play nicely meanwhile.

[PopTart]

Re: Matthew Ellis Takeover : Tue May 23, 2023 2:34 pm  

I think some are missing the point.
There is as much due diligence needed for the seller as the buyer.

Re: Matthew Ellis Takeover : Tue May 23, 2023 3:13 pm  

Exactly Manuel

Re: Matthew Ellis Takeover : Tue May 23, 2023 6:15 pm  

Yes

Re: Matthew Ellis Takeover : Tue May 23, 2023 8:40 pm  

This thread has a number of examples of the Dunning-Kruger effect.

My earlier answer was correctly identified as one taken directly from a well known AI program then used as a template ….

[PopTart]

Re: Matthew Ellis Takeover : Tue May 23, 2023 9:17 pm  

That not only applies to over confidence about knowledge of buying and selling a sports club but also coaching a super league team, building a stadium, running a sports club, contract negotiations and general accountancy.

To be honest, if we could get a political party setup from this forum we'd be out of the recession tomorrow and leading the 'free world'

Re: Matthew Ellis Takeover : Wed May 24, 2023 11:20 am  

PopTart wrote:

I think some are missing the point.
There is as much due diligence needed for the seller as the buyer.

There really isn't - seller simply needs to sign a few forms. Buyer would normally want to do DD to find any "skeletons" and get warranties and indemnities from sellers. Still important info for whoever is taking over but understandably unlikely to get any warranties and indemnities from MC.

Re: Matthew Ellis Takeover : Wed May 24, 2023 11:31 am  

RWB wrote:

There really isn't - seller simply needs to sign a few forms. Buyer would normally want to do DD to find any "skeletons" and get warranties and indemnities from sellers. Still important info for whoever is taking over but understandably unlikely to get any warranties and indemnities from MC.

Beg to differ RWB. Buyers need to be deemed fit - even if it's for £1 you still need to be fit to take on the legacy. The truth is that there is a whole raft of potential connotations from selling (passing on) a club to a new owner (custodian) and it's not that easy.

You are taking on a legacy in taking on a club. You are taking on countless family incomes, and the supply chain that services them and beyond.

Re: Matthew Ellis Takeover : Wed May 24, 2023 1:44 pm  

Agree to an extent BSC - but think that is RFL's role in approving any change in ownership. From MC's point of view as an exiting shareholder of a Ltd Co, there's nothing really is there? Fair enough check the new guy has sufficient brass to take on the debts etc but he can walk away pretty quickly and cleanly if he wanted. In terms of supply chain, current commitments - they remain with the company.