Bidders hire Hansen to pick club
Thursday 10 April 1997
Hansen has been appointed as a non-executive director of Soccer Investments, a shell company backed by City institutions. It is seeking an listing on the Alternative Investment Market.
It hopes to use a pounds 10m cash "carrot" and the promise of a flotation to lure a Premiership club into a reverse takeover.
Soccer Investments is in talks with two Premiership clubs. As the company has appointed a Newcastle-based broker and a Leeds-based public relations company, it is possible one target could be Middlesbrough. The Teeside club is third from bottom in the Premiership but is in the semi-finals of the FA Cup and the final of the Coca- Cola Cup.
Vinay Bedi, of the company's broker, Wise Speke, said: "Soccer Investments has given itself two years to find an attractive football club willing to enter into a reverse takeover. If such an opportunity does not appear, the group will liquidate and the backers' cash will be returned."
The backers are believed to be blue chip City firms as well as prominent footballing individuals. The directors of the acquired club would receive shares in Soccer Investments for their stake. The pounds 10m would be injected into the club.
There has been a flurry of football club flotations and opportunities for deals in the Premiership are diminishing rapidly. In recent weeks Mosaic Investments has taken over Bolton Wanderers and Newcastle United has taken a listing while Sheffield Wednesday is raising funds via a placing.
Soccer Investments said Alan Hansen's selection of prospective clubs would centre on player capabilities, strength of squad and the management.
- 1 Rarest Beanie Baby of them all could be sold for £62,500 on eBay
- 2 Ben Affleck asked TV chiefs to hide slave-owning ancestry, new hacked Sony emails published by Wikileaks claim
- 3 Driving while dehydrated can be just as dangerous as drink driving, study suggests
- 4 Farmer told to tear down mock-Tudor castle after hiding construction behind hay bales
- 5 One Direction: Louis Tomlinson launching his own record label, has already 'signed two acts'
Alan Rickman admits editing 'terrible' script with friends in Pizza Hut behind backs of writers on Robin Hood: Prince of Thieves
Rarest Beanie Baby of them all could be sold for £62,500 on eBay
Professional big game hunter Ian Gibson crushed to death by elephant during hunt
Driving while dehydrated can be just as dangerous as drink driving, study suggests
Ben Affleck asked TV chiefs to hide slave-owning ancestry, new hacked Sony emails published by Wikileaks claim
If I’m being racially abused I don’t need a stranger with a saviour complex to rescue me
The only black face in the Ukip manifesto is on the page about overseas aid
Ukip is the only main political party to not address LGBT rights in its manifesto
Food banks: One million Britons will soon be using them, according to Trussell Trust
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
BBC election debate: The one photo that summed up the whole 90-minute leaders debate
iJobs Money & Business
£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£50000 - £667000 per annum + excellent benefits : Ashdown Group: IT Manager / ...
£13000 - £20000 per annum: Recruitment Genius: Scotland's leading life insuran...
£40000 - £45000 per annum + benefits : Ashdown Group: Training Programme Manag...