| Solak 17:46 - Oct 28 with 721 views | Avior |
It has been briefly mentioned in a couple of other posts but Solak had a pretty major setback in the summer. Most of his wealth comes form United Group an Eastern European telecoms company. As part of its very aggressive expansion it borrowed money from various people including a very hard-nosed private equity group based in London called BC Partners. They insisted on United selling some businesses which Solak duly did and he thought he was due a Euro 250m bonus. BC refused to pay it and he kicked up an almighty fuss. Earlier this month BC kicked Solak out of the company and he then sued them to get reinstated. That bid failed last week and he has nowhere else to go.
What does that mean for him? Basically he is Euro 250m light on what he thought he had and he has no control over the cashflow of United so cannot get cash out of the company. Don't be surprised if he receives a bid for the Saints which suddenly matches his reduced expectations or more likely sells a 50% stake to someone else. |  | | |  |
| Solak on 18:16 - Oct 28 with 642 views | LondonSaint76 |
Right back where we started with Gao then, another so called billionaire in charge without a pot to pee in!
Whilst I felt a bit sorry for Gao in the first instance as just after he took over the reigns at SFC the Chinese government threw a complete curve ball at him and other wealthy businessmen who wanted to invest their wealth overseas by freeing their assets and restricting them to spending it in China only thus starving him of the money he wanted to invest in SFC, Solak seems to have shot himself in the foot by picking the wrong people to involve in his core business - poor decision making on his part, sound familiar? Hope he finds a buyer for 100% of SFC and takes the rest of the SR clowns with him to Goztepe. |  |
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| Solak on 18:22 - Oct 28 with 625 views | mushinexile |
I can't see how he could have been shafted for a quarter of a Billion euros without being an unbelievably bad businessman. If the court threw it out then he must have been a right dodgy chancer. Ho, ho. | |
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| Solak on 20:47 - Oct 28 with 442 views | dirk_doone |
| Solak on 18:22 - Oct 28 by mushinexile |
I can't see how he could have been shafted for a quarter of a Billion euros without being an unbelievably bad businessman. If the court threw it out then he must have been a right dodgy chancer. Ho, ho. |
Yes, he seems to have been kicked out of his own business because they didn't trust him to run it properly. |  |
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| Solak on 21:14 - Oct 28 with 377 views | Ifonly |
I don't think this is right. I understood that these are separate cases. BC Partners appear to have won the right to dismiss Solak from United group and take control for themselves, but they still have to pay the 250m that they agreed to in a separate ruling. | | | |
| Solak on 21:25 - Oct 28 with 351 views | kernow |
Dragan Solak, sounds like a James Bond villain. | | | |
| Solak on 22:22 - Oct 28 with 251 views | saintmark1976 |
Ah, now I know why we can’t keep the club shop open fully during the week.
Trying to get his money back by reducing the shop’s wage bill. | |
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