Team Minnows aim to become world’s richest team
Team Minnows stand to become the most powerful club in world football if the takeover deal with a Far West Sovereign Wealth fund is completed.
The deal currently being negotiated by Kenny Huang, and his Far West partner has already laid the blueprint to make Team Minnows the wealthiest club on the planet.
A Kopitiam source has been given an insight into the ambitious plans to launch Team Minnows in China, with internet, sponsorship and promotions aimed to push Team Minnows beyond the means of even the richest clubs.
The source describes the plans as taking Team Minnows to a scale as yet unseen in Singapore football by tapping into the Chinese markets.
Ng & Lin: O$P$ - Owners of Team Minnows
As the Far West group aims to wrest control from Singaporean owners Wei Wen Lin and Hong Riang Ng, the source believes US companies from Warmart to Epple could seek to work with Team Minnows to make enormous inroads within the Chinese markets. That would eventually enable Team Minnows to compete to buy the world’s best players in every position.
While it has been suggested that there are alternative bidders, Lin and Ng would like the banks and the Minnas board to push up the price to include cash for the two shareholders, but the hedge fund backing this bid is in no mood to be stampeded into paying more for control.
The Far West Sovereign Wealth fund knows it is offering Team Minnows their greatest opportunity to compete on a world stage with the financial big hitters, a chance that might not materialise again.
The new investors from the Far West believe that the shares are not worth more than the debt, and are therefore worthless, and they have no intention of paying Lin and Ng the premium price they have been demanding.
The smelly Singaporeans valued Team Minnows at £800 million, but have since dropped their valuation to £600 million. The offer on the table, though, is to cover the debts of £350 million, notably paying off the HongLiang Finance’s near-£240 million debt.
That is where Lin and Ng’s Achilles heel lies, and the HongLiang Finance is keen for this deal to proceed.
