Summer Transfer Gossip.

[Facts Not Fiction]

With one and a half hours to hit the transfer funds button it just doesn't make sense. Clear balls up by the finance team

You got vast experience in dealing with football deals? Guess not

[Statto]

With one and a half hours to hit the transfer funds button it just doesn't make sense. Clear balls up by the finance team

You got vast experience in dealing with football deals? Guess not

Well I've bought a house which is infinitely more complex

[Milo]

Let's try not to jump down each other's throats, Facts not Fiction!

[David I]

With one and a half hours to hit the transfer funds button it just doesn't make sense. Clear balls up by the finance team

You got vast experience in dealing with football deals? Guess not

All other clubs reliant on funds managed it.
Not as if we didn't know to prepare for it - common sense!

[Sting of the North]

The explanation makes very little sense, since surely most of the paperwork could of course have been completed before the Sess signing was done? I think one or both of the clubs just f'd something up.

However, as regards buying a house, it may be different in the UK, but I have bought several properties and don't really see the huge complexity, and also don't see why it should be much harder than buying a multi million pound footballer. It would have been very difficult to complete everything within a few hours of course.

It should however be added that one should have higher expectations on a professional (such as TK/AM) than on an average house buyer so the comparison doesn't really matter any way.

[Sting of the North]

With one and a half hours to hit the transfer funds button it just doesn't make sense. Clear balls up by the finance team

You got vast experience in dealing with football deals? Guess not

All other clubs reliant on funds managed it.
Not as if we didn't know to prepare for it - common sense!

I agree that the Sess deal should be no excuse, but just out of interest, what other clubs reliant of funds that ultimately did not get released until 3.30 pm managed to get all their dealings done?

[Facts Not Fiction]

With one and a half hours to hit the transfer funds button it just doesn't make sense. Clear balls up by the finance team

You got vast experience in dealing with football deals? Guess not

All other clubs reliant on funds managed it.
Not as if we didn't know to prepare for it - common sense!

I agree that the Sess deal should be no excuse, but just out of interest, what other clubs reliant of funds that ultimately did not get released until 3.30 pm managed to get all their dealings done?

Ours isn't a funds issue in terms of lacking the money. We have it in our locker. But there was only so much more money we could lose in terms of FFP, that we had to wait to the Sess money comes in to balance the book.

No doubt, if we had bought Hector, and Sess fell through, we'd be inline for another FFP punishment.

[Sting of the North]

With one and a half hours to hit the transfer funds button it just doesn't make sense. Clear balls up by the finance team

You got vast experience in dealing with football deals? Guess not

All other clubs reliant on funds managed it.
Not as if we didn't know to prepare for it - common sense!

I agree that the Sess deal should be no excuse, but just out of interest, what other clubs reliant of funds that ultimately did not get released until 3.30 pm managed to get all their dealings done?

Ours isn't a funds issue in terms of lacking the money. We have it in our locker. But there was only so much more money we could lose in terms of FFP, that we had to wait to the Sess money comes in to balance the book.

No doubt, if we had bought Hector, and Sess fell through, we'd be inline for another FFP punishment.

I never claimed that we were cash strapped, I am just fairly sure that a deal can be all but finalised while waiting for other deals to go through. This does however not at all have to be all our fault, since Chelsea were also involved. We don't know the exact nature of the hold up, but I cannot believe that it was impossible to make sure that a deal could be finalised in case of the Sess transfer going through. It was TKs and/or AMs job to get it done, and they failed, although not certain it was primarily their fault on the day.

[Statto]

as regards buying a house, it may be different in the UK, but I have bought several properties and don't really see the huge complexity, and also don't see why it should be much harder than buying a multi million pound footballer.

Well I don't how it works in Sweden but here it's very complicated. Most purchases will be financed by a mortgage which involves a bank carrying out its own DD on the buyer(s) and the property and ultimately taking a legal charge against the property. The finance will normally subject to interest that's fixed for an initial period then floating with reference to the BoE base rate later. The buyer(s) DD will involve everything from radon to light obstruction to chancel repair, which is an obligation to contribute to the cost of repair of local churches. All property is held on trust under English law, usually by the legal owner on trust for themselves. When there's more than one owner their shares may be varied, either expressly, or impliedly by certain actions. If you're buying a leasehold property, technically you're taking assignment of the lease, will have been written decades ago, and that may include an obligation to become a shareholder in a management company that maintains the property. If you're buying a flat, your leasehold will likely only include the inner faces of your windows and door and not the outside, with restrictions on what you can do in relation to both. I reckon the foregoing covers about 10% of the issues arising in a property transaction and already it's more complex that signing a "multi-million pound footballer" (which, by the way, should be no more or less complex than signing a £10 footballer). It is infinitely more complex. End of, frankly.

[JoelH5]

as regards buying a house, it may be different in the UK, but I have bought several properties and don't really see the huge complexity, and also don't see why it should be much harder than buying a multi million pound footballer.

Well I don't how it works in Sweden but here it's very complicated. Most purchases will be financed by a mortgage which involves a bank carrying out its own DD on the buyer(s) and the property and ultimately taking a legal charge against the property. The finance will normally subject to interest that's fixed for an initial period then floating with reference to the BoE base rate later. The buyer(s) DD will involve everything from radon to light obstruction to chancel repair, which is an obligation to contribute to the cost of repair of local churches. All property is held on trust under English law, usually by the legal owner on trust for themselves. When there's more than one owner their shares may be varied, either expressly, or impliedly by certain actions. If you're buying a leasehold property, technically you're taking assignment of the lease, will have been written decades ago, and that may include an obligation to become a shareholder in a management company that maintains the property. If you're buying a flat, your leasehold will likely only include the inner faces of your windows and door and not the outside, with restrictions on what you can do in relation to both. I reckon the foregoing covers about 10% of the issues arising in a property transaction and already it's more complex that signing a "multi-million pound footballer" (which, by the way, should be no more or less complex than signing a £10 footballer). It is infinitely more complex. End of, frankly.

I've bought many houses here. It's not that complicated if you can follow simple instructions

[Statto]

With one and a half hours to hit the transfer funds button it just doesn't make sense. Clear balls up by the finance team

You got vast experience in dealing with football deals? Guess not

All other clubs reliant on funds managed it.
Not as if we didn't know to prepare for it - common sense!

I agree that the Sess deal should be no excuse, but just out of interest, what other clubs reliant of funds that ultimately did not get released until 3.30 pm managed to get all their dealings done?

Ours isn't a funds issue in terms of lacking the money. We have it in our locker. But there was only so much more money we could lose in terms of FFP, that we had to wait to the Sess money comes in to balance the book.

No doubt, if we had bought Hector, and Sess fell through, we'd be inline for another FFP punishment.

The deal would have cost about £1-2m in this year's accounts. That would not push us over FFP. Even if it had, we could have made it back in January by off-loading someone like Fonte in an emergency cut-price deal.

[Statto]

as regards buying a house, it may be different in the UK, but I have bought several properties and don't really see the huge complexity, and also don't see why it should be much harder than buying a multi million pound footballer.

Well I don't how it works in Sweden but here it's very complicated. Most purchases will be financed by a mortgage which involves a bank carrying out its own DD on the buyer(s) and the property and ultimately taking a legal charge against the property. The finance will normally subject to interest that's fixed for an initial period then floating with reference to the BoE base rate later. The buyer(s) DD will involve everything from radon to light obstruction to chancel repair, which is an obligation to contribute to the cost of repair of local churches. All property is held on trust under English law, usually by the legal owner on trust for themselves. When there's more than one owner their shares may be varied, either expressly, or impliedly by certain actions. If you're buying a leasehold property, technically you're taking assignment of the lease, will have been written decades ago, and that may include an obligation to become a shareholder in a management company that maintains the property. If you're buying a flat, your leasehold will likely only include the inner faces of your windows and door and not the outside, with restrictions on what you can do in relation to both. I reckon the foregoing covers about 10% of the issues arising in a property transaction and already it's more complex that signing a "multi-million pound footballer" (which, by the way, should be no more or less complex than signing a £10 footballer). It is infinitely more complex. End of, frankly.

I've bought many houses here. It's not that complicated if you can follow simple instructions

Well it is, and I've just explained why. I suspect none of that bothered you because you paid a lawyer to do it, then just followed their "simple instructions" ("sign here please Joel") without ever really understanding the legalities of the transaction you were entering into. Of course FFC have the same option - they can pay a lawyer to handle their acquisition of a player and just follow instructions to sign a couple of forms. That's fine but doesn't change the fact that actually, to anyone with a vague understanding of the underlying transactions, that buying a house is much, much, much, much, much, much more complex than buying a footballer.

[FFC1987]

Can confirm, buying a house is complex in UK.

[Sting of the North]

Well I don't how it works in Sweden but here it's very complicated. Most purchases will be financed by a mortgage which involves a bank carrying out its own DD on the buyer(s) and the property and ultimately taking a legal charge against the property. The finance will normally subject to interest that's fixed for an initial period then floating with reference to the BoE base rate later. The buyer(s) DD will involve everything from radon to light obstruction to chancel repair, which is an obligation to contribute to the cost of repair of local churches. All property is held on trust under English law, usually by the legal owner on trust for themselves. When there's more than one owner their shares may be varied, either expressly, or impliedly by certain actions. If you're buying a leasehold property, technically you're taking assignment of the lease, will have been written decades ago, and that may include an obligation to become a shareholder in a management company that maintains the property. If you're buying a flat, your leasehold will likely only include the inner faces of your windows and door and not the outside, with restrictions on what you can do in relation to both. I reckon the foregoing covers about 10% of the issues arising in a property transaction and already it's more complex that signing a "multi-million pound footballer" (which, by the way, should be no more or less complex than signing a £10 footballer). It is infinitely more complex. End of, frankly.

I would believe that the DD on a multi-million pound footballer would likely be more thorough than on a 10 pound footballer.

Regarding the house, I do understand that  it most likely takes longer than buying a footballer, and also may have more aspects to consider. But most of what you list regarding properties seem to be the same as in Sweden, and therefore not very complicated. I also assume that there are standard contracts and inspections and that your banker will help you out with the financial just as the real estate broker (or whatever you have) assists in getting the paper work in order. I also notice that much of what you write has very little bearing on how complicated a deal would be, but more just an explanation of how things are (for example what forms part of a flat, or that you may have to become a shareholder in a management company). People do that every day, most of it is standard stuff, with lots of help available. Of course, if you handle everything by yourself, it would be rather complex (I for one would not be comfortable with doing all physical inspections myself), and if that is how you buy a house I agree that it is much more complex than buying a footballer.

[Steven Ageroad]

Shame about the Hector deal falling through because it gives the many moaners on this board something to get  their teeth into!

[grandad]

To all those slagging off the Club for the failure to sign Hector, why not wait till after the FST meeting with the Club on 12 August before passing judgement

[Statto]

Well I don't how it works in Sweden but here it's very complicated. Most purchases will be financed by a mortgage which involves a bank carrying out its own DD on the buyer(s) and the property and ultimately taking a legal charge against the property. The finance will normally subject to interest that's fixed for an initial period then floating with reference to the BoE base rate later. The buyer(s) DD will involve everything from radon to light obstruction to chancel repair, which is an obligation to contribute to the cost of repair of local churches. All property is held on trust under English law, usually by the legal owner on trust for themselves. When there's more than one owner their shares may be varied, either expressly, or impliedly by certain actions. If you're buying a leasehold property, technically you're taking assignment of the lease, will have been written decades ago, and that may include an obligation to become a shareholder in a management company that maintains the property. If you're buying a flat, your leasehold will likely only include the inner faces of your windows and door and not the outside, with restrictions on what you can do in relation to both. I reckon the foregoing covers about 10% of the issues arising in a property transaction and already it's more complex that signing a "multi-million pound footballer" (which, by the way, should be no more or less complex than signing a £10 footballer). It is infinitely more complex. End of, frankly.

I would believe that the DD on a multi-million pound footballer would likely be more thorough than on a 10 pound footballer.

Regarding the house, I do understand that  it most likely takes longer than buying a footballer, and also may have more aspects to consider. But most of what you list regarding properties seem to be the same as in Sweden, and therefore not very complicated. I also assume that there are standard contracts and inspections and that your banker will help you out with the financial just as the real estate broker (or whatever you have) assists in getting the paper work in order. I also notice that much of what you write has very little bearing on how complicated a deal would be, but more just an explanation of how things are (for example what forms part of a flat, or that you may have to become a shareholder in a management company). People do that every day, most of it is standard stuff, with lots of help available. Of course, if you handle everything by yourself, it would be rather complex (I for one would not be comfortable with doing all physical inspections myself), and if that is how you buy a house I agree that it is much more complex than buying a footballer.

The DD on a footballer, whether they cost £20 or £20m, is a medical. That's it, surely?

I generally agree with your second paragraph but I'm not sure it contributes anything to your argument that buying a house isn't more complicated than buying a footballer. Yes it can be simplified by using standard forms and letting lawyers deal with it... so can the acquisition of a footballer

[Sting of the North]

The DD on a footballer, whether they cost £20 or £20m, is a medical. That's it, surely?

I generally agree with your second paragraph but I'm not sure it contributes anything to your argument that buying a house isn't more complicated than buying a footballer. Yes it can be simplified by using standard forms and letting lawyers deal with it... so can the acquisition of a footballer

Probably no medical on a £20 footballer I would say.

My argument would be that in both cases lawyers etc. are generally used so neither transaction is normally overly complicated from the perspective of the buyer as it is mostly up to discussing price and 'pulling the trigger'. 

[JoelH5]

The DD on a footballer, whether they cost £20 or £20m, is a medical. That's it, surely?

I generally agree with your second paragraph but I'm not sure it contributes anything to your argument that buying a house isn't more complicated than buying a footballer. Yes it can be simplified by using standard forms and letting lawyers deal with it... so can the acquisition of a footballer

Probably no medical on a £20 footballer I would say.

My argument would be that in both cases lawyers etc. are generally used so neither transaction is normally overly complicated from the perspective of the buyer as it is mostly up to discussing price and 'pulling the trigger'. 

I'm sorry but... what? Lol You've spent an hour discussing the complexities of buying a house on a football forum.

[Riversider]

To all those slagging off the Club for the failure to sign Hector, why not wait till after the FST meeting with the Club on 12 August before passing judgement

Yeah because they will get to the bottom of it won't they 😩