Esporta Sale Update

>I was chatting with Duncan Rowe this morning, Editor of Leisure Report Journal. We wondered how the Esporta sale was progressing as Duncan was nearing his press deadline. I decided to make a call to Grant Thornton, the administrator for Esporta’s holding company for an update. So, I put in a call to Grant Thornton’s press office who said they would speak to the administrator and get back to me. I waited several hours, but no news. I chased them back and they put me on to Bankside who handle corporate communications. The relevant director is presently in Russia. Let’s get hold of him for an update. ‘Not me that’s dealing with it’ came the reply. ‘Try Tulchan Communications’. They are also in the communications business. I am now a dog with a bone, and won’t give up ! I try Tulchan. Someone will call me back. I put in a call to Greenhill Investment Bank who have been working on the deal. Someone will get back to me.

I am now eagerly waiting on a call back from anyone!

Finally, I get the update. Dominic Fry from Tulchan Communications calls me to say that progress is presently slow, given the turmoil in the debt markets. Therefore, there is no definite date yet set for a major announcement. He does confirm that there has been lots of interest and that a break up of Esporta is most likely. This means the racquet’s clubs going one way and those clubs without tennis being purchased by a separate bidder.

Last month, the national media were reporting news of an imminent announcement of the successful bidder (s), but Dominic said this was unfounded.

So there it is. In summary. No news!