BRISTOL Rovers have been talking with a group of American investors over the potential sale of the club, the Bristol Post understands. Chairman Nick Higgs has been attempting to attract outside investment to the club over the last 12 months and has also been in talks with at least one other overseas consortium. Swiss financier and former Reading director Chris Samuelson, who was a guest of the club at Rovers’ play-off semi-final against Forest Green Rovers at the Memorial Stadium last month, is understood to be involved with the latest bid. Higgs said: “I have had a number of approaches and have spoken to various parties over the last few months, but there are no agreements to sell the club to anyone at this point in time. “They have all come to nothing and until such time as there is something in writing or some form of agreement there is nothing to discuss.” The Post has been told the group include several businessmen that made up the Phoenix Consortium – an American-based hedge fund – that failed in an attempt to buy Championship club Reading last summer. Phoenix were reported to have tabled a offer of £5 million and agreed to take on a debts totalling just over £20 million to buy Reading – but lost out to a Thai consortium led by businesswoman and shopping mall magnate Khunying Sasima Srivikorn. “There is no agreement to buy or to invest in Bristol Rovers,” said Samuelson when contacted by the Post yesterday. “Whether or not there might be in the future is something I can’t tell you. Who knows? “I was seen at a game recently, but I was there as the guest of another director and I’ve been looking at probably ten football clubs recently and you could say the same story about all of them. “I’ve looked at clubs in the Premier League right through to League Two, but there is nothing agreed with any of them. “The realities of the football business are that you have to have to have deep pockets to do it and you have to understand it. “There are 72 Football League clubs and the one thing they all have in common is that they lose money. Anybody who wants to buy a club in England will want to buy one in the Premier League. “When you are looking outside of that you have to ascertain the potential of the club and how far it could go towards fulfilling that. “Where can Bristol Rovers go? It is a nice club with a big support base, but there is the dispute with Sainsbury’s at the moment. A lot depends on who is going to help it.” It is unclear how much any potential buyers would have to part with to buy Rovers – but a debt that was recorded as £5.5 million in the club’s latest set of annual accounts published at the club’s AGM in February would have to be absorbed. That figure, which covers the 12-month period prior to Rovers suffering the ignominy of relegation to the Football League, will almost certainly have increased since. It is also understood a short-term high-interest loan of £2m, taken out with a company called MSP Capital to help continue the legal battle with Sainsbury’s, is due for repayment later this year. Rovers would certainly be in a stronger bargaining position if they win their dispute with Sainsbury’s over the sale of the Memorial Stadium. That would force the retailer to go through with a £29 million deal to purchase the current ground, which would kick-start the plan to build a new stadium on land owned by the University of West England in Stoke Gifford. A decision by High Court judge Mrs Proudman one way or the other is expected imminently following a week-long hearing in London last month. Rovers, meanwhile, are the latest League Two club to be linked with a takeover by money-rich investors. Opening-day opponents Northampton Town last week confirmed they have come to an “initial agreement” with an Indian consortium. Carlisle United have also said they are in talks with a “billionaire”.
Nothing much in that to be honest to get excited about. It looks like we need to beat Sainsburys before any real chance of investment or a take over bid becomes reality. If we lose, no one will want to invest in the Mem and take on our debts. It really wouldnt surprise me if Higgs puts the club into administration if we lose against Sainsburys.
Following reports in the local media this morning regarding the possibility of a future take-over of the club, we would like to clarify our position. The board of directors have made no secret of their intention to secure investment in a bid to take the club forward and cement its long-term future. Additionally if a potential buyer were to approach us with the right offer, made for the right reasons, we would obviously consider this offer. At this moment in time there has been no offer. However, this situation may change in the future. We have a very clear, ambitious plan to move this club forward and are actively looking for new directors with expertise. That plan is dependent on new or increased investment. We have spoken to Chris Samuelson. It was an informal conversation. Chris and the people he represents are looking at a number of clubs. We can see why Bristol Rovers is one of the clubs they were interested in talking to. We have an incredible fan base which is the envy of many clubs. This makes us an attractive proposition for potential investors. But at this moment in time there is no agreement in place to sell Bristol Rovers. http://www.bristolrovers.co.uk/news...er-statement-2513934.aspx#eoqymEOFbp8XcX2O.99
Seems strange how this has come out now instead of after the Sainsburys outcome. Is this giving false hope or do they know something about the judge's decision?
It also coincides with the signing of Chris Lines. Perhaps they do know something and good news is about to come.
Yes indeed, add Lines arrival, it seems either the club are just confident/positive of a good outcome or already know the outcome. I hope this aint trying to get our hopes up trying to sale a few more season tickets! Lines arrival was obvious it was going to happen anyway but I though DC was waiting for Sainsburys decision to know how much would the outcome effect his budget. Sources such as Bristol Post and BBC say the Sainsburys decision is effecting DC's plans. So signing Lines now, does this mean we are about to hear great news about Sainsburys? Just hope not more false hope. This is Rovers after all!
I would be gobsmacked if they knew anything - High Court Judges aren't in the habit of leaking their decisions before they announce them. Signing Lines was a no-brainer - we slashed up budget last year but still had excellent attendances and the 3 play off games would've brought in at least a high six figure sum, so we could afford him.
Came across this from Reading, doesnt fill me with confidence.... http://www.getreading.co.uk/sport/football/football-news/former-reading-fc-director-chris-9559462
CJS if that article is accurate then I hope they continue to deny it and stick to running it themselves for as long as they can or until they can find some one who is genuinely interested in the club
