Quote REVENUE="REVENUE"Without trawling the thread can i ask a couple of pertinent questions please.
Weeks ago when Wakefield were on Sky i remember Carney talking about a new rich owner on his way in.
What is the hold up in announcing him?
Who is he?'"
He is Matthew Ellis. Owner of DIY Kitchens.
He's a long time Trinity fan and has shed loads if money.
Our board and Ellis (or his team) have agreed in principle to transfer ownership of the shares. Carter and Minards have publicly said they don't want money for shares or payment for their loan.
There is a process to go through called Due Dilligence where both parties and their legal teams go through each others financials and the things agreed in that original agreement in principle to make sure Ellis is fit and proper to take over and the club is in the financial and legal position it says its in, so that neither side is caught out in the deal.
That due diligence can take a long time.
I think MC made a mistake implying it could be done quickly in 4 weeks which has then set the rumours going.
In the mean time, Minards and Ellis negotiated a big sponsorship which allowed us to pay off some players and bring in new to save us from relegation.
That kind of stops things going wrong while they are still talking.