offix Posted 2 March, 2009 Share Posted 2 March, 2009 Tranmere is! English club targets U.S. buyers By DANIEL KAPLAN Staff writer for Street & Smith's SportsBusiness Journal Published March 02, 2009 : Page 08 Another English soccer team is for sale and has possible American buyers, but this deal, if it occurs, is not likely to make international headlines. Tranmere Rovers FC, a team that’s in the English soccer equivalent of Class AA baseball, has hired a U.S. firm to sell a majority share for $6.5 million. Dornoch Capital, a North Carolina firm started in part by former Wachovia banker Joe Kosich, is brokering the sale of the team, owned by Peter Johnson, a former chairman of Premier League team Everton. As part of the deal, the new buyer would have to agree to put in $4.5 million in new funding over the next four years, Kosich said. Johnson, 70, said he is selling because he is getting old. “I bought the club in 1987 and I am ready to go off to pasture in Europe,” he said. Kosich is targeting Americans because he hopes Tranmere will align with an MLS team, though the American league has never before partnered with an English club not in the Premiership. Tranmere is in northern England, near Liverpool. Several top English clubs, including Manchester United and Liverpool, have been acquired by Americans as part of a global international rush into the Premier League, but that interest has waned with high prices and the global economy in recession. Kosich is hoping some buyers will be willing to look a little downstream. English soccer practices promotion and relegation. The top three teams in a lower-division league are upgraded to the next level and the lower three are downgraded after each season. That means a team like Tranmere can be had for a relatively cheap sum, and if it’s promoted, the payoff is huge. Tranmere competes in League One, which is a bit of a misnomer because it is the third league, behind the Premier and the Championship leagues. Tranmere last week was ninth in the 24-team League One. “Our firm views Tranmere as a club with great potential and a great deal of operating as well as financial flexibility due to extremely modest debt levels,” Kosich said. Link to comment Share on other sites More sharing options...
Mr X Posted 2 March, 2009 Share Posted 2 March, 2009 Lowe doesn't want to sell and neither do the other muppets. Fact Link to comment Share on other sites More sharing options...
Oz Posted 2 March, 2009 Share Posted 2 March, 2009 Lowe doesn't want to sell and neither do the other muppets. Fact where is your evidence for your statement? Link to comment Share on other sites More sharing options...
CB Fry Posted 2 March, 2009 Share Posted 2 March, 2009 Who cares. A bit of press release PR and spin from Tranmere. I know some people on here think Rupert Lowe is the only man on earth to do such a thing, but maybe other clubs are at it too. I doubt any mega-yachts will be seen outside Birkenhead any time soon. This time last year everyone on here was wetting themselves about Derby's billion dollar American takeover. That went well, didn't it? Link to comment Share on other sites More sharing options...
derry Posted 2 March, 2009 Share Posted 2 March, 2009 Coventry in the black, enough capital to operate without an overdraft. Link to comment Share on other sites More sharing options...
SaintRobbie Posted 2 March, 2009 Share Posted 2 March, 2009 Tranmere is! English club targets U.S. buyers By DANIEL KAPLAN Staff writer for Street & Smith's SportsBusiness Journal Published March 02, 2009 : Page 08 Another English soccer team is for sale and has possible American buyers, but this deal, if it occurs, is not likely to make international headlines. Tranmere Rovers FC, a team that’s in the English soccer equivalent of Class AA baseball, has hired a U.S. firm to sell a majority share for $6.5 million. Dornoch Capital, a North Carolina firm started in part by former Wachovia banker Joe Kosich, is brokering the sale of the team, owned by Peter Johnson, a former chairman of Premier League team Everton. As part of the deal, the new buyer would have to agree to put in $4.5 million in new funding over the next four years, Kosich said. Johnson, 70, said he is selling because he is getting old. “I bought the club in 1987 and I am ready to go off to pasture in Europe,” he said. Kosich is targeting Americans because he hopes Tranmere will align with an MLS team, though the American league has never before partnered with an English club not in the Premiership. Tranmere is in northern England, near Liverpool. Several top English clubs, including Manchester United and Liverpool, have been acquired by Americans as part of a global international rush into the Premier League, but that interest has waned with high prices and the global economy in recession. Kosich is hoping some buyers will be willing to look a little downstream. English soccer practices promotion and relegation. The top three teams in a lower-division league are upgraded to the next level and the lower three are downgraded after each season. That means a team like Tranmere can be had for a relatively cheap sum, and if it’s promoted, the payoff is huge. Tranmere competes in League One, which is a bit of a misnomer because it is the third league, behind the Premier and the Championship leagues. Tranmere last week was ninth in the 24-team League One. “Our firm views Tranmere as a club with great potential and a great deal of operating as well as financial flexibility due to extremely modest debt levels,” Kosich said. We need to get out there and sell this Club.... the question is why aren't we and why are so-called fan's leaders not pushing for this either? mmmmmmm... make's you wonder. Link to comment Share on other sites More sharing options...
dubai_phil Posted 2 March, 2009 Share Posted 2 March, 2009 Now let's just have a think back shall we..... How successful were WE when we let the world know we wanted to get investment in? Precisely. Maybe like what happened with Man City, professionals with money prefer to do their business in board rooms NOT the media or the internet Link to comment Share on other sites More sharing options...
thorpie the sinner Posted 2 March, 2009 Share Posted 2 March, 2009 Now let's just have a think back shall we..... How successful were WE when we let the world know we wanted to get investment in? Precisely. Maybe like what happened with Man City, professionals with money prefer to do their business in board rooms NOT the media or the internet There you go again Phil, being all practical and positive!!! You are on the wrong site!!!!! Link to comment Share on other sites More sharing options...
um pahars Posted 2 March, 2009 Share Posted 2 March, 2009 Now let's just have a think back shall we..... How successful were WE when we let the world know we wanted to get investment in? Precisely. Maybe like what happened with Man City, professionals with money prefer to do their business in board rooms NOT the media or the internet In the current climate, I reckon every business, every institution and almost every entity wouldn't say no to some form of investment, so like you I'm not overly worried that we haven't got the For Sale signs up or taken out a listing on E-Bay!!!!! Link to comment Share on other sites More sharing options...
Mr X Posted 2 March, 2009 Share Posted 2 March, 2009 where is your evidence for your statement? My own eyes, seeing is believing Link to comment Share on other sites More sharing options...
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