Wolves are for sale and Darlo wants some smooth thighs

[Penk Wolf]

Cold light of day post.

Over the road, Jeremy Peace put West Brom up for sale, and did not resign his position. Also Randy Lerner put Villa up for sale, and did not resign his position. However, Morgan has put us up for sale and immediately resigned his position. If you are the 100% owner of something, you don't give up the overall control of the asset and agree to keep it financially going in the normal state of affairs.

Secondly, the interregnum sees Jez Moxey assuming the role of joint Chairman and CEO in effect. That is considered spectacularly bad corporate governance and in a listed company would only be allowed to continue on a short-term basis and with clear explanation as to the reasons why.

Those two points lead me to conclude that (hopefully) a new owner is already on the horizon and ready to step in at short notice. In all honesty, I would imagine that he would not resign his position unless due diligence was done and the contracts exchanged with completion close around the corner.

That is what I hope, anyway.

Although he's stood down, do you not think he'll still have the say on major issues?

 

[machin05]

Either that or he's a hot-headed petulant bully-boy who's had enough of his vanity project?

 

[Paddingtonwolf]

He will certainly have a say, that is why the statement says "commitment, and financial..." however, he actually has no legal say any more as he is no longer on the board. His control is purely from a "I will pay / I won't pay for that" perspective. Peace and Lerner absolutely wouldn't give up their board places because they had no buyer.

 

[Lord Knows]

With Steve Morgan standing down could Jez Moxey look to take Wolves in a different direction.

 

[pavlosmacwolf]

well this kind of explains the chaotic start to the season, and frankly gives me a feeling of doom on the horizon, yet my big worry is how the players react now , not when a new owner comes in.

I do think that Morgan is no dummy, and would suspect (hope) he has a buyer already lined up.

A Robert Plant led consortium might not be such as bad thing.

 

[Sniffer]

From the Tim Spiers piece:

Morgan is dealing with personal issues away from Wolves, in the midst of divorcing and coming to a settlement with his second wife (his first ended with a £100m settlement around 15 years ago).

My favourite bit:

Indifferent results see Wolves three bottoms off the bottom of the Championship and with increasing anger among their fanbase.

 

[Johnny75]

Although he's stood down, do you not think he'll still have the say on major issues?

Yes, whatever the board say he is still 100% shareholder therefore the board would need his approval to carry anything through that would alter the state/ shareholding of the company, such as a sale.

No shareholder would give up their rights to vote on matters. Where he would give up power is on how the company was run.

 

[Lord Knows]

well this kind of explains the chaotic start to the season, and frankly gives me a feeling of doom on the horizon, yet my big worry is how the players react now , not when a new owner comes in.

I do think that Morgan is no dummy, and would suspect (hope) he has a buyer already lined up.

A Robert Plant led consortium might not be such as bad thing.

How about a Hollywood consortium headed by Robbie Keane.

 

[Paddingtonwolf]

well this kind of explains the chaotic start to the season, and frankly gives me a feeling of doom on the horizon, yet my big worry is how the players react now , not when a new owner comes in.

I do think that Morgan is no dummy, and would suspect (hope) he has a buyer already lined up.

A Robert Plant led consortium might not be such as bad thing.

Sentimentally, Plant would be a lovely fit. However, he has a net worth far lower than that of Steve Morgan and has never shown interest in owning the joint. He would need significant other backers to be in the game financially. Also Plant is no spring chicken at 67.

 

[thehistorymakers]

The devil in me would love to see the Club sold to someone like the Bhattis, just to see that cheshire cat grin that's all over the faces of those that wanted him out turn to crocodile tears and plastic demonstrations.
'Wolves ay we'.

Wanting to watch Wolves lose, to make Morgan grin, is a strange sentiment from a Wolves fan. Wolverhampton Wanderers Football Club, is more important than any person or chairman.


I am not in the Morgan hater camp, but as soon as it became clear, he wasn't willing to invest in our push for promotion, the writing was on the wall. We move on, there is no need for division between fans. Let us just hope, we get someone decent.

 

[Paddingtonwolf]

Yes, whatever the board say he is still 100% shareholder therefore the board would need his approval to carry anything through that would alter the state/ shareholding of the company, such as a sale.

No shareholder would give up their rights to vote on matters. Where he would give up power is on how the company was run.

Or indeed anything that requires a shareholders resolution. Such as board member appointments. A director can be happily appointed by the board but that appointment has to be approved by shareholders at the next AGM. Also shareholders have to approve the accounts.

 

[Johnny75]

How about a Hollywood consortium headed by Robbie Keane.

It would be nice if Mr Keane could ask his mate Becks for a few sheckles to buy a small club in the west midlands that play in old gold.

Paddy - it does seem strange that the CEO is also Chairman, it's almost as though Moxey is the default position and this is surely wrong from a board perspective, unless Morgan and Moxey did run the club as a dictatorship rather than corporate governance structure. A 'My way or the highway' type of deal.

 

[pavlosmacwolf]

I seem to remember Planty made an attempt around the time Marshall was in the hot seat many years ago, but the memory ain't what it was.

I'm sure he would need a consortium rather than go it alone.

 

[Paddingtonwolf]

He would. As I remember his net worth is something in the region of £170m. Unless you are Paul McCartney, then music doesn't generate the absolutely colossal net worth to get in the game for big-time football club ownership.

 

[Lord Knows]

It would be nice if Mr Keane could ask his mate Becks for a few sheckles to buy a small club in the west midlands that play in old gold.

Beckham could ask his mate Tom Cruise to throw a few million at it..

 

[Sniffer]

Cold light of day post.

Those two points lead me to conclude that (hopefully) a new owner is already on the horizon and ready to step in at short notice. In all honesty, I would imagine that he would not resign his position unless due diligence was done and the contracts exchanged with completion close around the corner.

That is what I hope, anyway.

Why announce that the club is up for sale if it is already close to being sold? Why have the article in last week B&S about Wolverhampton being in his heart and he feels like an adopted son?

I'd hazard a guess that after the altercation at Preston on Saturday he feels that the fans no longer want him and he's decided to sell up.

 

[Lord Knows]

Why announce that the club is up for sale if it is already close to being sold? Why have the article in last week B&S about Wolverhampton being in his heart and he feels like an adopted son?

I'd hazard a guess that after the altercation at Preston on Saturday he feels that the fans no longer want him and he's decided to sell up.

Fuck me, he's a big boy who should know thats part of the territory as all clubs carry a minority of knuckle dragger's.

 

[ROVERT47]

Wanting to watch Wolves lose, to make Morgan grin, is a strange sentiment from a Wolves fan. Wolverhampton Wanderers Football Club, is more important than any person or chairman.


I am not in the Morgan hater camp, but as soon as it became clear, he wasn't willing to invest in our push for promotion, the writing was on the wall. We move on, there is no need for division between fans. Let us just hope, we get someone decent.

I'll explain, firstly i've always wanted wolves to win every game i watch.

My football supporting philosophy is simple, probably too simplistic for some, it's just a bit of fun to me.

If Wolves became no more then i would find it strange for a while that something i've done on a winters afternoon for as long as i can remember was no longer there but after a short while i'd get on with something else.

Whereas those that don't like the Owner, CEO, Manager, players, scream abuse at certain players week in week out and find the whole Satiurday afternoon experience a chore would no doubt be overcome with grief that 'their Club' was no more.

 

[Penk Wolf]

So, Morgan has really only stood down to get out of the firing line?

 

[Paddingtonwolf]

Until a deal is done. The fact he has resigned his board position is for me (at least) a cast iron indicator that he is never coming back. A new owner will be found but until then the whole shebang is in Moxey's lap effectively.