Debt will be all but gone, ST selling his shares for £2 million and more investment will follow.

Borthwick is leading this consortium and has been trying to buy ST's shares for the past 8 months. ST dropped his asking price, we will have new owners within a few weeks.

Tek wrote:

Arab87 wrote:

Debt will be all but gone, ST selling his shares for £2 million and more investment will follow.

Borthwick is leading this consortium and has been trying to buy ST's shares for the past 8 months. ST dropped his asking price, we will have new owners within a few weeks.

The cynic in me naturally thinks this is all a bit too good to be true.

Wonder what the catch is? 🤔
 

 
Quite....seems rather generous....£2m to ST....£1.2m(?) to Hugh Duncan (if the debt is genuinely being cleared) and for this they'll get the privilege of funding at least one more loss making season in the championship.

Delighted if someone wants to do this but I'm struggling to see what's on it for them 

kdyteejay wrote:

Tek wrote:

So is it Borthwick who is leading this buy out?

 
Excuse my ignorance but who is this guy? What's his first name? What's known about him?

 
Alistair Borthwick is from St Andrews, grew up an arab, moved to the states to work with Myrril Lynch's hedge funds, then he got cherry picked by Bank of America to head their international hedge funds.

Then BOA bought Myrril Lynch after the financial crash in 2008.

He bought a tounhouse in Manhattan a few years ago for about €14 million lol.

Tek wrote:

Arab87 wrote:

kdyteejay wrote:

 
Excuse my ignorance but who is this guy? What's his first name? What's known about him?

 
Alistair Borthwick is from St Andrews, grew up an arab, moved to the states to work with Myrril Lynch's hedge funds, then he got cherry picked by Bank of America to head their international hedge funds.

Then BOA bought Myrril Lynch after the financial crash in 2008.

He bought a tounhouse in Manhattan a few years ago for about €14 million lol.

Did he not just study at St.Andrews?
 

 
Aye, sorry he is from Glasgow I think.

bowers wrote:

Yeh glasgow born studied at standrews.

He is currently a managing director of the bank of America.

If its true and he is involved as i said yesterday it can only be a good thing imo.

 
One of the head honchos at BOA, has won a host of awards with them as well.

Would like to see MM phased out too, perhaps with some of the cash that DUSF have made from pledges can go towards perhaps buying shares from MM? Even if its 10% shares of the club, they can weigh in and represent most of the fanbase at board level.

bowers wrote:

Arabtrust already represent the fans at boardroom level via the associate director they have...

 
Sorry mate but I don't have any faith in the arabtrust. They have stood by and nodded yes to anything that baldy suggests. There is a reason they're called the Lanyard brigade.

Just reading a bit more about Borthwick.

This guy is a serious high-flyer in New York financial circles. As said above he last year purchased an apartment in New York for 14.5 million dollars.

Was part of a dinner party wining and dining with Kate Middleton and Prince William on their last stateside visit.

It would appear 2 million quid may not be a whole lot of money to this guy. Though i am quite sure he must want his money back at the very least.

He's younger than i thought he would be.

Billy_Hainey wrote:

Wha's that bit stuff we him. She's a candidate for WYOWYN.

Hahahahaaha. Quality Bill.

​p.s. it's his Wife.
 

HeggyHandshake wrote:

A couple of things don't sit right with me. We are been told this has went on for months and near completion, so why did Mike Martin feel the need to purchase Justine's shares a few weeks ago and first thing he does as Chairman is relieve us of Gussie Park. Surely the new owners could have bought the shares from Justine and they could have kept Gussie if they wanted too??

Is MM just out for a quick buck??

 


Yes. He tried to get some kind of vice grip for a reason. If he’s to be ousted, he wants to be ousted to a financial benefit.

Tek wrote:

Just reading a bit more about Borthwick.

It would appear 2 million quid may not be a whole lot of money to this guy. Though i am quite sure he must want his money back at the very least.

 
Doubt we will see any news on this until after our fate is known. Alastair obviously kens all about timing with finance and getting the best deal.

If I was ST I'd take an offer that was in the best interest of United and run whenever the fuck it came in incase it backed out.

If a takeover is funded outwith our country then I'd be happy if an Arab was at the core.

Like i said the other day i think martin will stay chairman whwn these new owners take over thompsons shares.

Running the club for borthwick and co if they are buying ST out.

Ate Martin and Borthwick connected in anyway?

I'm beginning to smell a bit of a stench about these rumours. In truth, my cynicism stems from the timing of details being put into the public domain, coinciding with a) season ticket renewals and b) the AGM.

Not wanting to pish on anybody's chips, but I wouldn't like to think we, the supporters, are being played for fools once again.

These things will take a fair amount of time to get done. Buying a house is a lengthy business so imagine what trying to get a football club will include and doing it from the USofA will slow things down again.

Fingers crossed for news sooner rather than later