So what happens on 17th July?

[Jenny]

The announcement on DROS said that the takeover would be completed on 18th July.

The way crowdfunder works is that you pledge to donate an amount and if enough people pledge to hit the target, the money gets taken.

The crowdfunder deadline is 17th July at 3pm.

What happens if the £2m pledge level isn't made?

Deal falls through?

[pib]

Obviously I don't know how everything works, but if the papers have been signed and it's all agreed surely there's no going back now?

So I would imagine JR and LT would have to subsidise the difference.

[Welling Rover]

I would suspect that TB and DW would have seen evidence of the funds being available to complete.Think this is just a cynical way of milking money from young gullible 1D fans.

[Jenny]

But they aren't going to make any money if it doesn't hit £2m... It seems strange how the dates line up.

[big fat yorkshire pudding]

Well Jenny, I'm sure we'll find out.  It'll need 4M a year to sustain our last attempt in league 1, for what it's worth that's a lot to ask!

[wilts rover]

Semms clear to me, it is so that the exact amount of shares that the new trust can purchase (as a percentage of the overall Ryan/Tomlinson buyout) is known when the takeover is completed.

[aidanstu]

But they aren't going to make any money if it doesn't hit £2m... It seems strange how the dates line up.

But they aren't going to make any money if it doesn't hit £2m... It seems strange how the dates line up.

Where are you getting the idea that they won't make any money if not all 2m is raised?

[Jenny]

It is how crowd funding works.

I'm very familiar with it.

People aren't giving money now, they are pledging that they will if the target is hit. If it isn't no money is ever taken.

[DearneValleyRover]

It depends on the clauses of the takeover what if it's written that if the target isn't met the takeover falls through? I await mid July with baited breath