Still No News .... Again !!
I cannot remember a more frustrating period than the last couple of months and for City fans it has been a real torturous time not knowing what's happening with the Club with constant rumour and speculation, but little action.
Another week has passed without a resolution to the ownership of the club and the new manager and as each day now passes,the patience of the beleaguered City fans will be stretched to the limit.
The announcement last week that Shinawatra had at last made a formal bid seemed to settle a few nerves and silenced a few doubters that the buyout would ever happen. Since then however, we have once again entered a period of inertia as Frank imperceptibly inches his way towards acquiring the magical 75% of club shares that will see him able to de-list from the stock market and allow Eriksson to take over as coach.
What seems a simple and routine share acquisition has not been helped by many small shareholders not receiving their offer letters and therefore not being able to sell up, even though they desperately want to. The activity on the PLUS market has been agonisingly slow with Frank stuck around the 70% mark and little signs of trading activity that suggests he'll hit the 75% sometime soon.
Just to add up the ante a little, there are reports this morning that Sven is hedging his bets by talking to little known Spanish outfit Recreativo Huelva about the managers job, should the takeover at City go tits-up.
Given all the uncertainty about Shinawatra and his sources of funds, I guess you can't really blame SGE for having a Plan B, but the news is not really what City fans need to hear at the moment and adds to the already saturated levels of anxiety and frustration.
I'm expecting a few more late twists in the tale before this whole thing is resolved one way or another, but all we can ask is that it sorts itself out quickly now. The latest from Frank's camp is it'll still be another 48hrs, but we've had a lot of 48hr windows over the last few months; time just seems to be elastic at the moment.
6 comments:
yawn yawn yawn .... totally fed up with it
From what I can make out its the SKY shares which are the hold up...Whether the money is not yet transfered or the postal strike I don't know!!!
Anyone else got a view please no more WAITING!!!
That's one I've not heard so far, but nothing about City surprises me any more
Don't look at Plus Markets...Frank is buying his shares direct so they won't appear on the Plus Markets website. Sky shares must have gone through as there is an announcement on the stock exchange. The hold up is those City fans who don't know how to sell their few shares to Frank, or don't wnat to sell to Frank. Have faith it'll be all sorted soon, Frank was at CoMS last night and the talk is that we should expect him announcing he is at 75% either today or tomorrow.
Thanks and hope you're right
The Sky shares were acquired last week so no hold up there. My bet is that it will all be solved in the next 24 hours. Could be a little bit of brinkmanship to get it all done for when the players return tomorrow.
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