YeOldeHamiltonian wrote:Apparently Agent John Viola and a Dubai Consortium tried to buy the club two months ago but the deal fell through as McGowan wanted to retain control of the stadium company.
We're bac to the snake of companies, TT. Whilst McGowan appears to have sole control as Director of HAFC Stadium Ltd. this in turn is wholly owned by Deeka Ltd, again C McG as sole Director & then Edencrest Ltd. where Les Gray is still listed as Director. Now, what split of shareholding in any of those, is unknown and not listed at Companies House.
From what you have suggested, it appears that C McG might have majority shareholding in any/all of above three companies, in which case he can hold out for as long as he likes, until someone makes him an offer he can't refuse. There's always the Allie Irish Bank in the background, who hold standard securities over various parcels of land at or around the stadium. One piece appears to have been sold in 2021 for £110K but to whom and why is not shown. HAFC Stadium Ltd is shown on a declining profitability and would run out of money eventually in normal circumstances.
But with the inter-company trading, and Edencrest showing an Insolvent Capital position, the it's no suprorise that any investor will walk away without some tangible asset for their investment. The Stadium, and the land within the Stadium Company, is the only thing that be valued by any prospective purchaser, IMO.
Meantime, events outwith our control could ultimately be engineered to force a sale of the stadium and land to pay-off the AIB.