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Takeovers

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Gulls takeover reaches crisis point

The prospective takeover of Torquay United has reached crisis point with bidders Gaming International issuing what the Torquay United Supporters Trust has described as an ultimatum to Torbay Council.

It has now emerged that Swindon-based Gaming International, operating through their subsidiary Riviera International Limited, want to take ownership of Plainmoor and then build a new ground elsewhere. Torbay Council currently own the freehold of Plainmoor.   It is quite an extensive site in a built up area of Torquay with development potential.

Wolves sold to Chinese conglomerate

The growing Chinese presence in English football has been strengthened by the acquistion of Wolves by Chinese conglomerate Fosun heded by Guo Guangchang.   The group has leisure and entertainment interests around the world.

Gulls fans still in the dark

Torquay United fans are still in the dark about the club's future after its annual general meeting.  The takeover deal with Swindon-based Gaming International seems to be stuck in the sand.  Moreover, the cash strapped club may have to pay back a £50,000 loan if the deal falls through.

Three way tussle for Dagenham and Redbridge

Relegated Dagenham & Redbridge are hardly the most glamorous club in London, but there is a three way tussle to acquire the club.   

Big plans for Bangor City

A Cheshire-based consortium that has taken over Bangor City has big plans for the North Wales club, They plan to pump in at least £100,000 a year as they seek to end the domination of the Welsh Premier Leage by The New Sants.   The real attraction is perhaps not the WPL title, but the chance of Champions League football.

Forest takeover may hit snags

Greek shipping magnate Evangelos Mariankis has been linked with taking a majority stake in Nottingham Forest for some time now.    Some reports suggest that a deal to acquire a 80 per cent holding may be imminent.

Mariankis is the owner of the Piraeus based team Olympiakos.   They have been crowned champions for six consecutive years, this year by a record 28 points.

Hong Kong buyer for Birmingham City

A Hong Kong-based businessman, Paul Suen, is poised to buy a majority stake in Birmingham City.  He intends to buy at least 60 per cent of the club through his company, Trillion Trophy Asia.  This appears to be an investment vehicle set up for the occasion.

Mr Suen is an active investor in small listed companies in Hong Kong.

The sale, expected to be completed before the end of September, values the Blues at £37m.  It would end the seven year tenure of Carson Yeung, the Hong Kong businessman and convicted money launderer.

Chinese group takes majority stake in Inter Milan

Chinese appliance retailer Suning Commerce Group has agreed to pay €270m for a 70 per cent stake in Inter Milan.   The retailer is already active in domestic Chinese football.

Ex-owner , Indonesian businessman Erick Thohir, remains as president with a reduced stake of 31 per cent.   The club is thus entirely in foreign hands for the first time.

American owners at Swansea

The takeover of Swansea City by an American investment group was completed yesterday.  The consortium is fronted by Jason Levein and Steve Kaplan, who have extensive experience in American sports.

Hull City's future in doubt

With Hull City having gained access to the riches of the Premier League, speculation has intensified about a takeover.   The club has been for sale since 2014 when the owner failed to get the club's name changed, but it is now a more attractive prospect.   Some reports say that talks have been in progress since early this month.

Steve Bruce has said that he will need assurances from the owners  if he is to stay as manager.