40M Bid from Corinthians

[Blue Haze]

So how would a bank guarantee work if Corinthians couldn't meet the payments? Would the bank take control of Tevez's registration (the asset)? But be obliged to pay us as per the terms of the contract between City and Corinthians?

The bank would pay us and seize whatever asset is held as collateral from Corinthians. I would highly doubt they'd take a player as collateral.

They could pledge something like a training facility or part of the new stadium property. Downtown Sao Paolo real estate is more what they're looking for.

 

[Marvin]

So how would a bank guarantee work if Corinthians couldn't meet the payments? Would the bank take control of Tevez's registration (the asset)? But be obliged to pay us as per the terms of the contract between City and Corinthians?

That sounds right. I don't know but presumably the bank takes on the risk, i.e the debt owing to City and will somehow protect their interests with the club

Corinthians have publically explained that they can't pay now so they should have been spending their time getting the bank guarantee. Surely they know they can't expect the counterparty to pass over ownership of a valuable player without some kind of collateral.

Surely this kind of transfer would have been in the planning for months - the fact that they are scrabbling around on deadline day suggests to me that they were never serious about the deal, or never thought they could pull it off.

I think City are publically demonstrating to Tevez and his agent that they have done all that they could reasonably do to facilitate the transfer so that they remain on good terms with the player.

 

[whalley ranger]

to me, our acceptance to negotiate on terms that just don't suit us would suggest that aguero is close for me. i think the opportunity to sign aguero is really a one off that has presented itself. there is no doubt for me that he is a worldy, and will light this place up. would city be willing to let tevez go for nothing upfront if we didn't have a player of this quality lined up ?

Aguero, I would say is 100% done. Otherwise we wouldn't be so willing to basically give Carlos away.

it has to be, our stance has changed completely from we're not desperate to get shot, to now have the fucker. he's like the old ugly bird once you've gone to uni and met a fitter blonde with bigger tits. i can not put into words how excited i am to see aguero in a city strip. i may go mental

"In the air tonight" ?

 

[LoveCity]

Castles' Twitter: <a class="postlink" href="http://twitter.com/#!/DuncanCastles" onclick="window.open(this.href);return false;">http://twitter.com/#!/DuncanCastles</a>

He seems closest to the situation.

 

[jimbo101]

Banks wont give a guarantee unless it's backed up by some serious collateral.
For 40mill that would be some serious real estate, or a cross company guarantee to a rich parent company.

I don't belive these chancers have any of that, so the bank would probably be looking at a charge over future TV money. No wonder they're reluctant. Banks dont like taking on risk.

 

[okstate99]

Banks wont give a guarantee unless it's backed up by some serious collateral.
For 40mill that would be some serious real estate, or a cross company guarantee to a rich parent company.

I don't belive these chancers have any of that, so the bank would probably be looking at a charge over future TV money. No wonder they're reluctant. Banks dont like taking on risk.

You never know.

The chairmen of the bank might be a big supporter. Some of these clubs have close relationships with banks. Just look at Real Madrid.

 

[jimbo101]

Banks wont give a guarantee unless it's backed up by some serious collateral.
For 40mill that would be some serious real estate, or a cross company guarantee to a rich parent company.

I don't belive these chancers have any of that, so the bank would probably be looking at a charge over future TV money. No wonder they're reluctant. Banks dont like taking on risk.

You never know.

The chairmen of the bank might be a big supporter. Some of these clubs have close relationships with banks. Just look at Real Madrid.

True, to an extent. But it's a big jump from a bank writing off debt owed to it from it's local team (Real/Barca) to stumping up 40 mill to a third party.

 

[okstate99]

Banks wont give a guarantee unless it's backed up by some serious collateral.
For 40mill that would be some serious real estate, or a cross company guarantee to a rich parent company.

I don't belive these chancers have any of that, so the bank would probably be looking at a charge over future TV money. No wonder they're reluctant. Banks dont like taking on risk.

You never know.

The chairmen of the bank might be a big supporter. Some of these clubs have close relationships with banks. Just look at Real Madrid.

True, to an extent. But it's a big jump from a bank writing off debt owed to it from it's local team (Real/Barca) to stumping up 40 mill to a third party.

So your assuming this has to be a Uk Bank? Why cant it be a Brazilian Bank?

 

[whalley ranger]

Banks wont give a guarantee unless it's backed up by some serious collateral.
For 40mill that would be some serious real estate, or a cross company guarantee to a rich parent company.

I don't belive these chancers have any of that, so the bank would probably be looking at a charge over future TV money. No wonder they're reluctant. Banks dont like taking on risk.

You never know.

The chairmen of the bank might be a big supporter. Some of these clubs have close relationships with banks. Just look at Real Madrid.

It makes you wonder if this lot ever thought we would take them seriously. Now it's approaching D-day, there appears to be a bit of 'bottling' going on.
Obviously, it could be a make or break deal for them in terms of the future of their club.
Kia has put them in this situation and they're shitting it, to be blunt, and understanderbly so.

 

[LoveCity]

Someone on Twitter claiming ESPN Brazil has been told by Corinthians they can't get the bank guarantee for 2-3 days. I wish this horrible saga would just end, its becoming as torturous as the Sanchez one.