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30 Jul 2014 11:55:59
Having read some of the comments here I thought I would register and offer some insight into how big commercial deals are put togther. I stress I have nothing to do with the club, but do have a little experience of how these large commercial transactions work in practice. Firstly - comments that Mandaric is somehow fleecing the club are complete nonsense - read the report and accounts, he's invested over £30m in keeping Wednesday afloat.

"Due diligence is complete", this is nothing to do with League ratification (of which I have no knowledge). It means the contracts between Mandaric and Mammadov are ready to sign as soon as he pays over the purchase money, which clearly he is not in a position to do- yet.
The guys a billionare - why can't he just write a cheque? people like Mamadov are wealthy because they make money work for them - not even Abramovitch will have an odd £40m swlliing around in his current account just in case he decides to buy the odd football or baseball club. Mamadov's money will be tied up in other businesses and investments. He will need to either liquidate (sell) some of these assets and/or borrow against them to release the cash to complete the purchase of Wednesday. My reading is its this side of the equation where he is struggling to push through. This is not surprising seeing as whatever means he adopts to raise the cash it too will be a large commercial transaction in its own right with all the attendant contracts and due diligence required before completion, which just takes time unfortunately (he can't just dump them on ebay!).

In conclusion, am I worried - no, frustrated -yes. but its not surprising that they need more time to conclude.

The delay in league ratification could also be linked to the same issue - if part of the requirement is for Mamadov to show them a bank statement showing funds in place, clearly he can't do it until he completes the sale of his assets (but just guessing at this). There is an old adage that "time kills deals", so the longer it goes on, the riskier it looks, but as for now the delay looks frustratingly normal to me.

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