Sportsworld Media Share Discussion Threads

[zenone] 31/5/2002 22:19

Is there a corporate lawyer in the house , this cant be legal can it....

[philwalker36] 31/5/2002 21:42

Like this hasn't been planned since the turn of the year !!!

[go han] 31/5/2002 16:12

Umm. I guess 'extracted all the best elements' means that unless a good price was paid, there won't be anything left for shareholders.

[charles7] 31/5/2002 16:05

Go Han

Do you know what the implications are?

[go han] 31/5/2002 16:03

Some news today. No numbers mentioned it's looks like a big chunk of the business.

"2002-May-31 09:13:
Sportsworld Media and Marketing Europe, the European sports marketing division of the bankrupt Sportsworld Media plc, has been bought out by its management.
Sportsworld Media Group called in the receivers on April 10, but according to leading Sportsworld Media executives the management buy out will result in "a seamless transition between the old business and the new".

Keith Impey and Marcus Wight told sportbusiness.com that the new London-based company will be called Sports Media Limited and will include the company's existing office in India, which will continue to be run by Prem Bhatia.

"This is a very exciting phase of our development as we have extracted all the best elements of the old business to form a solid base to launch Sports Media Limited," the new management team said.

Ongoing Sports Media business relationships include marketing agreements with the England & Wales Cricket Board and all six Test match grounds, the Rugby Football Union, the European PGA, a number of Premier League clubs and the Toyota F1 team.

The company's consultancy arm will also continue to operate. Recent campaigns involving Sportsworld Media consultants have included Powergen in the Powergen Cup, Travelex with the Australian cricket team, and C&G and Scrumpy Jack in their exploitation of cricket marketing rights.
Matthew Glendinning
[e-mail]
Source: © sportbusiness.com"

[hard_seller] 31/5/2002 10:30

crate

I think we should here in the next week or so, it has been a long time, they must have sold the business by now!!

[crate] 30/5/2002 14:48

Does anyone know how long we will have to wait before they put us out of our misery.

[veneto] 29/5/2002 09:10

I dont think you will get anything back at all.QSP did the same thing and no one got a penny.


The only thing you can hope for is that the fraud squad charge these crooks and send them to jail where they belong.

[lukeb2002] 28/5/2002 22:29

I'm not expecting to get anything back, but if anything does come back don't expect to be anything more than a couple of pence...

[petersmith6] 28/5/2002 21:51

13p ,10p,5p or 1p...makes no odds becauses anything is better than nothing

[hard_seller] 28/5/2002 17:14

I hope we will get at least 13 pence per share back, am I too optomistic or is this possible?

[km11] 28/5/2002 13:03

Porky,
In essence, I think he is trying to look after our interests (Investments) and to ensure we are not ignored by the administrators. Its easy to sell a going concern business to a competitor at rock bottom price - that way the accountants are quickly in and out, then receive their fees. For us its a little different, we need to make sure that the businesses are sold at a fair value whereby, hopefully, something is left for shareholders after creditors have been paid off.

Cheers

[pork belly] 27/5/2002 21:35

>>km1

Not had any info from him.

Can you tell me exactly what he is trying to do ?

Cheers,Porky.

[km11] 27/5/2002 15:31

Not since his e-mail of 1st May.
I hope he's so busy working with the administrators that he's not had time to send out another update.

[pork belly] 25/5/2002 14:42

Have e-mailed JD ([e-mail]) a couple of times in last 2 weeks.No reply though.

Anyone else heard from him recently ?

Porky

[philwalker36] 25/5/2002 14:20

Has any body spoken to the administrator, formally or informally. Is the status of the disposal posted any where ?

[sonicx] 19/5/2002 09:03

The Popstars brand has to be worth at least 30 million.

[j.r.ewing.] 17/5/2002 19:54

does anyone know how long before we get trading again ??

[stopatawinner] 17/5/2002 19:02

What is the amount of debt and how much has been raised by sales so far?

[go han] 15/5/2002 17:47

Yes, although why do you think there will be £6m left.

It looks more like there won't be enough to pay all the debts unless some good deals are struck!

[sonicx] 15/5/2002 17:45

Question : If there are 68 million shares in issue, and after paying all their debts there was 6 million left in the bank, does this mean that the shareholders could get 10p each per share back ?

[royalexile] 07/5/2002 15:38

anyone got any views on RGT - results out tomorrow??

[steddieddie] 07/5/2002 15:11

For info...

CHAPMAN HOLDS ON SPORTSWORLD ACQUISITIONS
2002-May-07 12:08:
Jeff Chapman, the former majority shareholder in the bankrupt Sportsworld Media plc, has told sportbusiness.com that it is "unlikely" he will buy any of the UK assets or businesses of the company.
Chapman, however, confirmed that his Australia-based family business, Bennelong Group Pty Ltd, had bought three international businesses from the receivers/liquidators of Sportsworld Media.

These he identified as follows: "The Melbourne-based sports television production business; the Dubai-based sports television and event management business and the New Zealand [Auckland-based] sponsorship, signage and sports television business."

Chapman added: "All staff involved with the above referenced businesses are retained. Some staff employed in these locations but working for other aspects of the old Sportsworld business have [also] been retrenched by the receiver."

While Chapman said that Bennelong was unlikely to buy any of Sportsworld's UK assets, he asserted: "We are looking to quickly establish a UK base."

Chapman said that the failure of Sportsworld Media should not dissuade investors from targeting sports-related stocks. "The sports business is bigger on a worldwide basis than the automotive industry. Good companies with good balance sheets, a sound business model and proven management should always do well," he said.

Chapman, however, confirmed there was "no possibility at all" of working in the future with Jeff Brown, the former head of Sportsworld Media.
Matthew Glendinning
[e-mail]
Source: © sportbusiness.com