I always assumed the mysterious interim board were just muppets with messages from a ‘higher source’……there’s only one Captain on the bridge, the rest are just taking orders.

muppets or puppets or a combination of both.

If you can stick your arm up their stern tube they’re puppets.
If you can stick their head up someones stern tube they’re muppets.

Raj seems to want to keep all of his options open, including talking to new parties. I'm a bit surprised that we haven't got to a preferred bidder situation so that they can safely throw a lot of resources at due diligence.

We clearly are at an advanced due diligence stage. Raj’s statement was a mess of contradictions.
I predict his final statement when he leaves with a bag full of cash will be an all time great.

Pools is his toy.
Wudent rule out he's after part ownership only up to 49% to help pay the bills but stays in full control.

You seem oddly confident…….why…..??

Just reading what’s been said in the last few days. Others are strangely negative so maybe the truth is somewhere in between.
The club’s statement doesn’t really make sense though. Raj being Raj could do anything but honestly, I can’t see him walking away from money and money will have been needed to get to the stage we’re at. Of course I could be wrong though, if that makes you feel better! Ha

I’m with you on this one.
There’s no way Raj allows someone to do their due diligence on the clubs books without an accepted offer AND proof of funds. He didn’t let the trust do it even after a £600,000 deposit. There’s also no way Raj accepts an offer for the club without knowing he’ll get his money, so he clearly knows they have the capital.
No idea what yesterdays statement was for but sounds like we’re at the end game now, hopefully some movement this week (or next) and we’ll no longer have to read statements praising our dear leader

It does look promising. The only odd thing about it is being optimistic when Pools are concerned

Mikey is still convinced Glenn Miller’s flight is just delayed….now that’s optimism.

Snowy, I think on this occasion the pessimists might be the ones off the mark.

Come on, how often have we had defeat snatched from the jaws of victory…..I’llonly believe it when I see it now…it’s the hope and misplaced expectation that does for you in the end.

Pinched this from FB.


Dear members,
Yesterday’s club statement caused a lot of alarm among supporters. However, there was some very positive news buried beneath the usual praise for Raj Singh and suggestions that the buyers of the club haven’t stuck to deadlines.
The positive news is that due diligence is well underway -
“One party that the Club has been working with recently progressed into a due diligence stage”
The other is that due diligence is clearly ongoing -
“The Club will continue to proactively work with all interested parties and is hopeful to reach an agreement for takeover in due course.”
This is good news because due diligence is a very late stage of this type of deal. We understand this process quite well after being directly involved in two attempted takeovers in the last 18 months.
This is a basic summary of the process based on normal practice and our experience of dealing with the current owner of Pools, HUST are not involved in the current deal:
Initial negotiations and discussions take place to explore different ways of structuring a deal and a basic price.
Proof of funds would usually happen here or even earlier.
Head of Terms a legal document where both parties agree to a deal in principle. This is a price and structure based on the assumption that everything the seller has said about the state of the club is correct. Both parties sign this and it usually includes clauses about exclusivity, timescales, and financial penalties for both parties if they deliberately upset the agreement without good reason.
Deposit of funds. The full amount of money needed to complete the sale, or a substantial deposit, is paid in cash to a solicitor or solicitors. This money is out of the buyer’s hands but not given to the seller yet
Due diligence. The buyer examines the books carefully using a team of lawyers and a team of accountants. This process gives them a chance to see how the company runs in detail and to check that there are no hidden liabilities such as court orders, unpaid bills, pending court actions, tax bills etc. If things that weren’t mentioned earlier in the process are discovered the price agreed in the heads of terms can be adjusted to cover them as long as both parties agree.
Acceptance of sale. The full, or adjusted, price is released to the outgoing owner and the incoming owner takes over.
We should add that, in our experience, Raj Singh is strict about proof of funds, our consortium actually had to deposit close to £600,000 just to enter serious negotiations. We also found him very reluctant to start due diligence so the idea that he has allowed a prospective buyer to do this without depositing funds looks ridiculous. If deposit of an acceptable amount of funds hadn’t taken place we don’t believe that due diligence would have started. Due diligence is an expensive process for the buyer but there are possible risks for the seller too so nobody enters it lightly.
To sum up, a deal must be very close for this statement to have been released and the negative sounding elements are probably what Rob Law described as “posturing.” It is still possible for something to go wrong at the end of due diligence but the discovery of something so serious that negotiations can’t resolve the matter is rare.
We should all keep touching wood but it looks highly likely that a new, positive era will be starting at Pools very soon.
Never say die!
The Board of HUST

Never heard of him, I’m way too young.

It’s from a HUST members’ update earlier today, which I also got via email. Fair play to them. There’s so much speculation that some clear guidance is helpful.

Lets hope.
NSD