In all seriousness, I am guessing that even some of the Rose Tinted troupe in here are now thinking accepting that the time taken for this takeover is not simply “due diligence”. It’s a bit patronising to say that to some people on here who know what they are talking about.

The reason why due diligence drags on, is because someone is either not providing key data, or has asked for something that wasn’t part of original terms, amongst other things. Are the Ellis’s dragging their feet in being able to provide that they can run a business? Has JM stated that he is now part of the furniture and won’t be leaving? Truth is none of us (possibly) know any of this and therefore can’t and shouldn’t speculate. What the learned business individual does sense is that a normal cadence has not being maintained for a deal of this size.

Something has changed, and someone is not happy with it.

Appropriate and timely updates are the only way to avoid Facebook outbursts like last week (and possibly next week, who knows?).

It’s not unreasonable and the rose tints shouldn’t frown upon people asking for updates.

Not being privy to what is going on behind the scenes and how long these things take ,it does make one a little nervous will all what’s going on or not as the matter may be on field . Is our new incumbent playing a waiting game to see if we do drop down a division ( which even by my glass full take on matters ) is looking a more like a dead cert ,and having second thoughts. Surely money security wise it would be far easier to keep in super league and build on that security than drop down a division and be at the mercy of all and sundry as whether we actually ever come up again . Whatever the outcome I’ll be in the new stand next season God willing cheering Wakey on regardless ,but given a choice I’m all for super league survival,but unfortunately that’s out of our hand now ,and all I can do is shout encouragement from the terraces starting this Sunday and hope for divine intervention on our next 4 games .

I have heard Minards has now obtainedThe Ellis family tree . He has discovered he has numerous distant relatives spread around the globe and needs more time to meet everyone of them.

Looking forward to Saints on Sunday.

Seems to me you need a new source of information.
All is well.

Spill the beans!

I agree. So why post this?

It is frustrating.

I will be honest, I thought the 4 weeks quoted on the statement in June, was a little optimistic.

On experience over the past 30 years or so, i've known them take 6-9 months to complete.

IMO, and I stress this is just a view from the outside

If the deal could have been done a week or two after the initial financial injection via Matt Ellis’s sponsorship then we would have seen further transfers in an attempt to avoid relegation. Once that didn’t happen and the transfer/registration deadline passed meaning even if he owned the club Matt Ellis couldn’t bolster the team. Then I think ME became resigned to the reality of letting the season play out to see whether we are a Championship or a Superleague Club. The price of buying the club will change dependent upon one or the other as will the level of future investment so it now makes sense on his part to wait.

So, I don’t think we’ll hear anything until a couple of weeks after the final match of the season

I bet they are discussing how much the current incumbents need to deduct from the cost of the club for the goodwill they have lost.

Sounds realistic Avenger.I have been wondering myself if ME was waiting to see how the last 4 games pan out.

To be fair the longer applegarth stayed, we pretty much knew how it would pan out.While we all hoped for another trinity fightback im afraid cheap options on players\coaching this time hasn't worked hope i'm wrong.

Any buyer would want to know if they were buying a SL club or a Championship club.
The difference in revenue (both incoming and expenditure) are absolutely huge and surely the price that the owners are asking would change accordingly. ?
For those desperate for the deal to go through, think about it and try and put yourselves in the position of both seller and buyer and in each position, would you want to rush into it or wait a little longer. It's not rocket science.

I would think heads of terms were agreed ages ago on the price and as stated without rumours due diligence is on going.

I'm dreading how the last 4 games will pan out!

Ellis should pull out and tell them to get stuffed and let them two pick the pieces up. I wonder if the messiah will get his cape on and come to the rescue again or he makes a entrance like a Knight in shining armour. I wonder what jm as planned to repay all the debt off and take the club forward, can't wait.

A Heads of Terms agreement in a situation like ours would have included a ‘ force majeure’ proviso in the event of the club being relegated. It’s also possible that two valuations were made before signing the heads of agreement, one for the club remaining in super league and one for a relegated club.

The main point I was making was that had the takeover gone through fairly quickly then the extra time would have made it possible for Mathew Ellis to provide more funding and improve the team in an attempt to avoid relegation.
However, now that the talks are extending for a protracted period, the deadline for new signings has gone, and therefore it is in Mathew Ellis’s interests to wait until the end of the season thus removing the urgency to conclude the takeover

Exactly right. Millions was knocked off the price of Leeds United once they were relegated so the San Francisco 49s bought the club at a cheaper price…

and exactly what would that achieve?

I would think that could well have a bearing.

Also, though probably unrelated to any potential hold ups, were they waiting for the latest annual accounts to be submitted to companies house. If so, these have been submitted today, according to the companies house website

I tend to agree with the views of Avenger. The time where Ellis can influence our future has gone. We are now awaiting our destiny. Once that is clear I suspect the deal will be quickly completed. If we do get relegated then it will be obvious to everyone who has done this. Looking back to the close season it was obvious to most fans we were being reckless with the clubs future by assembling a squad that was lacking in quality in many areas. The club took a massive gamble by cutting the squad quality, and right now it's looking a huge mistake.

They didn't cut costs , MC told a meeting earlier this year that we were spending £ 1.5 million on this seasons squad and that was before anyone had heard of Matt Ellis. So there was plenty of money to spend, it was the worst RL £ 1.5 million spending spree ever. The good news is that from hearing snippets about how Matt Ellis runs his business empire he would I imagine be employing experienced people to run advise on the Rugby side of things.

Agree about the 1.5 million been wasted, put that with the 2 year of Chester buying championship players, and you can see how we find ourselves going in to the Championship

True. Plus, the longer that the current Directors look down the barrel of the mounting debts and losing the club forever in the Championship then maybe any urges to “stay in post” might subside and the terms change in favour of Ellis.

Copy and paste 53 - no urge to stay in post.