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Post by johnmc on Aug 23, 2022 10:43:08 GMT
Serious question.
Jamie Edwards put the club in a tough spot and is conspicuous by his absence from any announcements.
Vince surely wouldn't have signed up to the project without assurances that last season's woes were behind them.
In his interviews he's talked about local and national backers, including building local infrastructure to embed the team in the city.
The signings so far suggest the club likely has the second biggest budget in the league.
But the BBL aren't fully acknowledging any of them outside their almost impossible to find tracker.
It seems safe to assume that some sort of handover of ownership, or at least control, of the club is in process.
But trying to piece it all together feels a bit like reading tea leaves.
Anyone have an honest clue what's going on?!
Will the team even be able to start the season 'properly' or will we see another Raiders/Patriots type start?
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Post by gardielo on Aug 23, 2022 11:55:37 GMT
I believe Vince owns the Giants but not based on anything other then hearsay.
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Post by johnmc on Aug 23, 2022 12:28:56 GMT
Serious question. Jamie Edwards put the club in a tough spot and is conspicuous by his absence from any announcements. Vince surely wouldn't have signed up to the project without assurances that last season's woes were behind them. In his interviews he's talked about local and national backers, including building local infrastructure to embed the team in the city. The signings so far suggest the club likely has the second biggest budget in the league. But the BBL aren't fully acknowledging any of them outside their almost impossible to find tracker. It seems safe to assume that some sort of handover of ownership, or at least control, of the club is in process. But trying to piece it all together feels a bit like reading tea leaves. Anyone have an honest clue what's going on?! Will the team even be able to start the season 'properly' or will we see another Raiders/Patriots type start? Because I'm an absolute geek I spent my lunch hour boning up on their Companies House entries and filings. Looks like it's been a busy few weeks in housekeeping terms - financial statement finally filed a fortnight ago (they're broke, shock horror!), and their Articles of Association (effectively the document that governs the company) lodged and signed off but dated a couple of years ago. It's a long time since I was a trainee in a corporate mergers and takeovers team but this is the sort of stuff I'd have been doing to tidy up and put a company on solid footing before a takeover. Would tally with some of Vince's answers on the BBL Show that more would come to light in the next few weeks. These things do take time - not least due to lawyers themselves! |
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Post by reallyoldfeenixfan2 on Aug 23, 2022 12:39:53 GMT
I believe Vince owns the Giants but not based on anything other then hearsay. I think only a very few people really know what the actual situation is, hopefully that includes Vince himself. And TBH I wouldn't trust any hearsay, I didn't even like their music. |
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Post by tallerman on Aug 23, 2022 12:47:34 GMT
You liberty x fans make me sick
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Post by irf on Aug 23, 2022 13:06:54 GMT
Didn't someone suggest the ex Plymouth owners were involved?
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Post by tallerman on Aug 23, 2022 15:48:36 GMT
Its was me, thats the rumour i heard, could all be bullshit though
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Post by spacejammer on Aug 23, 2022 16:40:01 GMT
Didn't someone suggest the ex Plymouth owners were involved? I hope not, after the way they used Plymouth and ditched them they definitely don't deserve to be owners again. Tbh Vince seems like a smart guy so I don't think he would be jumping in bed with them unless he felt confident this wasn't going to end up like a Royals disaster. For Manchester though if the rumours were true then if these were the only backers of the team. Then it seems like their options were either go under now or take a risk with these new people and you either say afloat or go under 1 or 2 seasons later. Speaking of Giants has their been any word on Dan Clark yet? |
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Post by notoriousbigz on Aug 24, 2022 13:55:08 GMT
To my knowledge:
Jamie hasnt ever owned the team. Hes disqualified as a director and had proxies on the ownership docs.
Said proxy was about to have the franchise withdrawn by the league thus selling in principle to Vincent Mac.
Vincent Mac has some interesting friends who made a tits of it in Plymouth who want to invest with him.
League arent keen on the idea and the takeovers still undergoing due diligence.
Vince has got AIPs with the players Giants have announced and the takeover just needs the rubber stamp and all will be rosy with the world.
So atm, its still Edwards proxies owning the club, but the official line is "hes focussing on other projects". A serial charlatan.
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Post by blueskies99 on Aug 24, 2022 14:33:16 GMT
To my knowledge: Jamie hasnt ever owned the team. Hes disqualified as a director and had proxies on the ownership docs. Said proxy was about to have the franchise withdrawn by the league thus selling in principle to Vincent Mac. Vincent Mac has some interesting friends who made a tits of it in Plymouth who want to invest with him. League arent keen on the idea and the takeovers still undergoing due diligence. Vince has got AIPs with the players Giants have announced and the takeover just needs the rubber stamp and all will be rosy with the world. So atm, its still Edwards proxies owning the club, but the official line is "hes focussing on other projects". A serial charlatan. What is an AIP? |
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Post by notoriousbigz on Aug 24, 2022 14:34:20 GMT
Agreement in principle
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Post by johnmc on Aug 24, 2022 16:47:30 GMT
To my knowledge: Jamie hasnt ever owned the team. Hes disqualified as a director and had proxies on the ownership docs. Said proxy was about to have the franchise withdrawn by the league thus selling in principle to Vincent Mac. Vincent Mac has some interesting friends who made a tits of it in Plymouth who want to invest with him. League arent keen on the idea and the takeovers still undergoing due diligence. Vince has got AIPs with the players Giants have announced and the takeover just needs the rubber stamp and all will be rosy with the world. So atm, its still Edwards proxies owning the club, but the official line is "hes focussing on other projects". A serial charlatan. Is there any sense that the rubber stamp won't come? Assume the League will be seeking some reassurance and undertakings from the investors and from Vince that they won't 'do a Plymouth' and that Vince's involvement (even with the 777 angle) is itself something which will settle nerves? |
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Post by gardielo on Aug 24, 2022 17:21:59 GMT
I think we can assume Vince gota decent wedge from 777 for London franchise so even if the other party is involved they won't be sole owners.
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Post by tallerman on Aug 24, 2022 17:49:28 GMT
Interestingly looks like the bbl are the sole owners of the patriots as well now judging by their companiea house
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Post by notoriousbigz on Aug 24, 2022 17:57:43 GMT
To my knowledge: Jamie hasnt ever owned the team. Hes disqualified as a director and had proxies on the ownership docs. Said proxy was about to have the franchise withdrawn by the league thus selling in principle to Vincent Mac. Vincent Mac has some interesting friends who made a tits of it in Plymouth who want to invest with him. League arent keen on the idea and the takeovers still undergoing due diligence. Vince has got AIPs with the players Giants have announced and the takeover just needs the rubber stamp and all will be rosy with the world. So atm, its still Edwards proxies owning the club, but the official line is "hes focussing on other projects". A serial charlatan. Is there any sense that the rubber stamp won't come? Assume the League will be seeking some reassurance and undertakings from the investors and from Vince that they won't 'do a Plymouth' and that Vince's involvement (even with the 777 angle) is itself something which will settle nerves? Personally I dont think theres any reason it shouldnt save for the league flexing its muscles to show the Turks whos boss, but who knows given the BBLs immaculate track record in business dealings? Seems a straight choice of approve or lose a team - no brainer and we all know about Vinces staying powers, Im far more confident that franchise survives as long as hes involved, to his credit. |
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Post by topcata on Aug 24, 2022 18:28:19 GMT
I think we can assume Vince gota decent wedge from 777 for London franchise so even if the other party is involved they won't be sole owners. Depends how much he owed to Paddy Power or Betfred I guess! |
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Post by johnmc on Aug 24, 2022 19:08:06 GMT
Is there any sense that the rubber stamp won't come? Assume the League will be seeking some reassurance and undertakings from the investors and from Vince that they won't 'do a Plymouth' and that Vince's involvement (even with the 777 angle) is itself something which will settle nerves? Personally I dont think theres any reason it shouldnt save for the league flexing its muscles to show the Turks whos boss, but who knows given the BBLs immaculate track record in business dealings? Seems a straight choice of approve or lose a team - no brainer and we all know about Vinces staying powers, Im far more confident that franchise survives as long as hes involved, to his credit. Cheers. Reading between the lines that's kind of where I'd ended up myself. Would be very odd of the League to sacrifice a heritage club in a big market, coached by one of the marquee names in the sport in the UK, so fingers crossed our instinct is right! In good hands that franchise could/should operate at a similar level to London, Leicester and Newcastle every year - perennial trophy winners and EuroCup participants. Vince feels like the right man to start that process. |
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Post by irf on Aug 24, 2022 20:27:35 GMT
Vince has got "staying power"
That's such an apt description for him!
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Post by johnmc on Sept 15, 2022 12:54:51 GMT
Interesting that the end of the BBL silence on Giants prompted Mark Woods - who is usually pretty in the know - to speculate that this might mean that BBL has 'concluded its due diligence into the transfer of the Giants to a Vince Macaulay fronted group'.
So the rumours and speculation seemed to be right.
Interesting times!
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Post by LTfan on Sept 16, 2022 12:19:11 GMT
To my knowledge: Jamie hasnt ever owned the team. Hes disqualified as a director and had proxies on the ownership docs. Said proxy was about to have the franchise withdrawn by the league thus selling in principle to Vincent Mac. Vincent Mac has some interesting friends who made a tits of it in Plymouth who want to invest with him. League arent keen on the idea and the takeovers still undergoing due diligence. Vince has got AIPs with the players Giants have announced and the takeover just needs the rubber stamp and all will be rosy with the world. So atm, its still Edwards proxies owning the club, but the official line is "hes focussing on other projects". A serial charlatan. My biggest question around all this, assuming we're correct, is what the Turks see in Manchester that they didn't see in Plymouth? They were all in with their purchase of Plymouth Raiders, only to abandon ship shortly afterwards. But here we are, a year later and they're back investing and going all in on a British basketball team again! In their eyes, what's Manchester Giants got that Plymouth Raiders didn't? |
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