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Turn for the worse

If at all possible!

Looks as if Tahnoon Nimer has got the access to the Official Site, and following on from last night’s virtual ‘board meeting’ the Syrian has told us he’s removed Southall and Heller and appointed two Romanians to the ESI board. One name we have heard before in recent days Claudiu Florica, cleared on a technicality from a bribery and corruption case when at Microsoft and friend of Nimer. The other board member is sports and aviation lawyer Marian Mihail.

Both are Bucharest orientated and located and this only looks a turn for the worse in my eyes. It is said that Florica and Mihail “will host a meeting with club’s heads of departments today.” As if those poor people haven’t got enough worries in their lives.

Nimer appears more concerned about getting the transfer embargo lifted even though the transfer window is shut and football is on lockdown for the foreseeable future. No mention of proving source and sufficiency of funds to the governing body I see.

Former Barnsley CEO Gauthier Ganaye is a strong possibility for CEO. He was liked by Tykes fans and was responsible for appointing Daniel Stengel. Most recently he was in France at Nice.

2 Comments Post a comment
  1. Mal, (Texas AddicK) #

    I dont intend to speak for Nimer, but in his words, “getting the transfer embargo lifted”, must mean proving to EFL source and sufficiency of funds, that’s the only way that can get lifted.

    March 20, 2020
  2. Shadow Play #

    I might be trusting Nimer a bit too much here – the easy thing for him to do would have been to walk away last week. Clearly the relationship with Southall hit the rocks early doors so he’s had two months to wash his hands of involvement in the club if that’s what he wanted. I’m encouraged that he’s stayed and fought.

    From here stage one was to be take control of the boardroom and oust Southall and Heller, that’s now done and a box ticked. Next will be getting past the EFL embargo – and they have said that they need to be convinced of the source of hiis funds. He has had some time to do this and he has dodged around some direct questions, he now needs to put up. This ball is purely in his court. Then he has to buy Southall’s 35%. The Company Act 2006 comes into play here, a majority shareholder cannot force a minority shareholder to sell – at least not in non-takeover situations which is where we are. But there are other means…Southall has no other source of income or funds that I can see and not long ago he was sued to pay a £10k legal bill and declared that he had no money. Put it this way – he needs to be bought out and will negotiate hard because this is all he has, but he knows (or must know) that this is the only sensible way out for him. I think this issue will only be resolved when the right offer is made and that I presume is in process. If he manages to stay on he can’t afford to pay Roland for the freehold or invest in the club – he made it clear when he met CAST last week that the club was financially sound until December. I interpreted that to mean that the club can survive on revenue generated fromnormal business activities, but when that runs out he has no money to invest from his pocket. So he’ll sell – but when the price is right or he’ll end up with 35% of nothing.

    Regarding Tahnoon Nimer or any owner, it’ll be actions not words that get my attention. I’m wary about these two Romanian directors that he has appointed but they will both answer directly to Nimer. Clearly he made a massive mistake getting involved with Southall and that raises a few issues about what due diligence he did on his business partner (i.e. seemingly none), for someone with his apparent business experience that’s a head scratcher and worrying.

    All in all some progress this week in the right direction but I’m not totally convinced that we can sound the all clear just yet though.

    March 20, 2020

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