Milan has now made a statement to the effect that Hafiz Mammadov is having problems finding the money for the takeover of Sheffield Wednesday football club. This comes as no surprise to me and there has been enough warnings about this for a long time.
The issues at F.C. Lens where the money wasn’t paid into the club and their on/off promotion should have sounded the warnings. F.C. Lens will now have an issue bringing in new players due to an embargo or limitation on new players.
The web site of the Baglan group has been down for nearly a month www.baghlangroup.com. Imagine a major UK company having no web site for weeks on end.
Fitch have downgraded the Baglan group quite some time ago and won’t even comment on them any more. This was due to non payment of an outstanding debt.
I have seen other information through a reputable news feed, that the Baglan group failed to invest further in exploration, in a deal they were currently involved in.
There seems to be issues with liquidity in the Azerbaijan bank, which will mean that Hafiz will have issues transferring money around.
Only last weekend I was in a meeting with a business man involved with the European Olympics, who is working in Baku in Azerbaijan. The European Olympics will cost £3 billion pounds.
Azerbaijan is very closely linked with the EU, the EU are currently restricting the flow of Russian money around the world, due to the troubles in the Ukraine, which won’t help the situation. Watch the bond film “The world is not enough”, that will give you a good clue about the mine field Wednesday would be entering.
The Football league have not even done a fit and proper check on Hafiz Mammadov, because the funds have nerve been shown to be there. It is possible that Sheffield Wednesday football club would have become another Portsmouth F.C. , if this deal had gone through.
If Hafiz Mammadov had taken over Wedensday, that would mean that he would have had his fingers in 4 football clubs. Wednesday need an awful lot of investment in the football ground and new players to get them into the Premier division.
At some stage Milan Mandaric is going to have to come forward and say the takeover of Sheffield Wednesday F.C. is off, it is going to leave him with egg on his face. I don’t buy into the Milan saved us happy clappers, Wednesday wouldn’t have gone out of business, a trust would have taken over as happened at Portsmouth, my preferred option from day one. The bank and loan note holders would have accepted a lower offer.
Supporters are fooling themselves if they think a rich business man is going to come along and invest the sums that Chelsea and Manchester city have received from rich billionaires. If Sheffield wants to join the big time charlies both clubs need to merge and the whole city get behind it, other wise Sheffield football will remain in the doldrums indefinitely. I am not interested in supporting an average Premier division side at best, I expect Sheffield to have a side capable of being in the Champions League to get me back.
All the best