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Club9 a case of deja vu?


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There is something very Whytesque surrounding Club9.

The bottom two links don't work they seem to have suffered the same fate as the Liberty Capital website did when people started taking an interest in it.

Note the Whytesque touch of naming companies with similar names to long established reputable companies.

Makes you wonder what kind of due diligence Duff & Phelps are carrying out on prospective buyers, perhaps the same kind that David Murray so successfully used?

In terms of Club 9, some interesting reading here:

Hard to find any examples of deals that they (or their "affiliates" Tobacco Road Capitalists, Prometheus Capital and Dornoch) have actually done.

However, Tobacco Road does list 5 deals on its website. Turns out 4 are just companies that Jon Pritchett used to work for so not ACTUALLY deals. The one proper "deal" - you know, money in, investors etc, was Total Sports Entertainment, which they list as an "achievement" went bust in 2004 owing millions and losing shareholders a small fortune which led to lawsuits in 2004 accusing Jon Pritchett (partner in Club9 and potential future owner) and a gentleman named Bill Miller of breach of contract, wrongful conversion of company monies, mismanagement, breach of fiduciary duty and fraud - not saying they DID these things, but there were lawsuits.

Interesting linky no.1 - http://charlotte.bizjournals.com/cha...1/daily36.html

last month "Club 9 Sports" was touting a deal to take an Ice Hockey team to San Diego (deal never actually happened) and the supposed "money man" - remember C9S has no money of their own - was a guy named Bill Miller who in the 4 years since declaring TRAC/TSE bankrupt had apparently moved to Tennessee and become a "towing tycoon".

Interesting linky no.2 -

http://www3.signonsandiego.com/news/...ckey-sullivan/

Made me worry that this Bill Miller (bankrupt/accused crook/towing tycoon) might be involved in our deal. After all Club 9 has no money of their own - they are just a special purpose vehicle set up purely to do a deal with Sheffield Wednesday apparently - so they must have backers. I just hope Bill Miller is not one of them - if anyone would care to ease our fears, because these Club 9 blokes seem hard to get comfortable with and they certainly have not always had a successful track record, if indeed they have a record at all other than this one failed company-that-never-was.

Their advisor Joe Kosich heads up Dornoch Advisors which he claims is a merchant banking and advisory firm with offices located in Chicago, Birmingham, U.K., Milwaukee, Beverly Hills and Orlando, FL and headquartered in the Village of Pinehurst, NC. yet by his own admission in a post of Owlstalk there are only 2 staff and one office plus an "affiliate" in Chicago My aunt's old shop in Attercliffe used to do more turnover than them.

http://russellblackandassociates.com...ichCapital.pdf

Lee Strafford himself says that Club 9 has never done a deal because they are an "SPV (Special Purpose Vehicle) set up to invest in Wednesday" - on OT yesterday - and yet how confused must they have been about their Special Purpose if they were trying to buy an ice hockey team in California at the same time.

Lee did say that their predecessor firms, Tobacco Road and Prometheus Capital, have long histories in what he called the small-med cap markets (he means mid-cap).

Except http://www.tobaccoroadcapital.com/Experience.html

states 5 deals - Scheer Sports, French/Vaughan and General Sports Venue were companies where Pritchett worked, not "deals" - this would be like my baby brother starting a bank and claiming to have Barclays, Coca-Cola, Tescos and Marks and Spencer's as "engagements" just because he's worked for them all.

Prometheus Capital is no more help, there is no record on any file or database of them having completed a deal since 1992 when, under a different name, John Prutch bought a door maker.

So a Walter Mitty who is bigging up his company (actually all 3), one failed racing business that never actually held a race, and maybe a door maker 18 years ago - hardly fills me with confidence.

Can we find real investment? Not sure, and frankly unless this latest fiasco turns around quickly - not sure I want it any more.

Last thought - remember that movie "Boiler Room" where the guys from JT Marlin go in to town and the guys from JP Morgan are there and he says "hear your a con shop on Long Island, even changed your name to make it sound like ours".

There are 2 Dornoch Capital Advisors - Joe's little one man band in North Carolina USA and a large energy financing firm in BC, Canada

There is a Tobacco Road Capital (large Private Equity group in Durham NC) and then there is Tobacco Road CapitalISTS run by Jon Pritchett with no actual address just a mobile phone number on their website that rings off.

There is a $1billion sized hedge fund called Prometheus Capital in Russia, and then there is Prometheus Capital Partners based out of a temp. office space in Chicago run by John Prutch.

I have asked elsewhere for an example of one completed deal and been ignored. I have asked if anyone has actually established there is money here and same thing - attacks on me but no answers to the questions, which are really quite simple.

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There is something very Whytesque surrounding Club9.

The bottom two links don't work they seem to have suffered the same fate as the Liberty Capital website did when people started taking an interest in it.

Note the Whytesque touch of naming companies with similar names to long established reputable companies.

Makes you wonder what kind of due diligence Duff & Phelps are carrying out on prospective buyers, perhaps the same kind that David Murray so successfully used?

Good digging there mate, Shyte wrote all over it.......

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Can you summarise the information in this and how it relates to us? On my phone.

It means that there appears to be very little substance to Club9 and that they display many of the traits Whyte did.

It also means that Duff & Phelps have done little if any due diligence on the prospective buyers.

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I pray this lot never own us.

whats the story with TBK now mate? heard on clyde yesterday they had disscussions with ticketus but they never went too well. Darryl King was strongly hinting that the club will be liquidated

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whats the story with TBK now mate? heard on clyde yesterday they had disscussions with ticketus but they never went too well. Darryl King was strongly hinting that the club will be liquidated

don't know mate. they are desperate to stop liquidation.

its starting to look like that's impossible to me but I haven't heard that from my mate.

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I had a wee swatch at the website a couple weeks back and it looks like it was made by a primary school wean as a Project has no real information on it other than some bio's of individuals bumming about how awesome they are. As soon as I saw it alarm bells started ringing certainly not the "Homepage" of a multi million dollar organisation also noted 2 of the directors of Club 9 have ties to a Merchant Capital Gp Ltd, not the same one as C Whyte I don't think but very similar in name and again no history of note, do no trust these chunts as far as i could throw them.

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re: Bill Miller: If it's the Miller Towing I'm thinking of, they were a fairly large and profitable company at one time. No idea where they stand now and the copyright on their website hasn't been renewed since 2008. They're down the road in Ooltewah, TN.

But fuck this bid, it's Whyte's preferred and clearly a vehicle for his continued influence over the club.

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I imagine a lot more about Club9 will be revealed in the next few days.

the way thing's are shaping up it wouldn't surprise me if this mob end up the preffered bidder and we dont know a thing about their intentions until it's to late. this whole thing stinks from the sale from murray to whyte the whyte ownership debacle the way the adminstrators have behaved it stinks.you just have to look at the adminstration of the company game how long did that take to get sorted out?

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There is something very Whytesque surrounding Club9.

The bottom two links don't work they seem to have suffered the same fate as the Liberty Capital website did when people started taking an interest in it.

Note the Whytesque touch of naming companies with similar names to long established reputable companies.

And where has this 'quote' come from exactly mate??

Makes you wonder what kind of due diligence Duff & Phelps are carrying out on prospective buyers, perhaps the same kind that David Murray so successfully used?

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the way thing's are shaping up it wouldn't surprise me if this mob end up the preffered bidder and we dont know a thing about their intentions until it's to late. this whole thing stinks from the sale from murray to whyte the whyte ownership debacle the way the adminstrators have behaved it stinks.you just have to look at the adminstration of the company game how long did that take to get sorted out?

got to agree with this.

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