6CW Press Release - MUST READ

by Paul Mac 6CW Wed 29 Jun 2016, 3:26 pm

MS Investments Press Release

Following the events of last nights taping of 6CW Anarchy the Sullivan family wish to put to bed the rumours currently circling the industry through the following statement

"In August 2015 MS Investments were approached by an intermediary of Michael Jones with the purpose of securing financial backing for the purchase of 6CW following the release of control by the then owners The Magnusson family.

Agreement was reached for a short term high interest loan which included fixed repayment milestones and contractual bonuses connected to merchandise sales and corporate sponsorship. This agreement also included penalties should repayments be missed.

In the last 6 months Michael Jones has failed to meet the repayment terms on 5 occasions resulting in the accrual of monies owed. MS Investments were notified by Mr Jones that following the court settlement with SSE Plc repayment for July would also be delayed, furthermore a request was received to restructure the payment options. This request was denied and MS Investments made the decision to invoke Clause 6(c) of the financial agreement which entitles them to take immediate control of 6CW in replacement of Mr Jones in order to seek new owners of 6CW

MS Investments would like to clarify that although The Sullivan family have many years of experience of running successful wrestling companies there are no plans to add 6CW to their portfolio. MS Investments are keen to secure new ownership of 6CW over the coming weeks so that stability can be restored to the company as soon as possible.

MS Investments have already entered into meaningful dialogue with a number of interested parties but will not comment further on these negotiations until new owners can be formerly announced however MS Investments would like to clarify that under the terms of the financial agreement Mr Michel Jones has forfeited his share options and any rights to the continued ownership of 6CW. Mr Michael Jones is not one of the interested parties engaged with MS Investments and as of yesterday Mr Michael Jones is no longer employed by 6CW."

The Sullivan Family
MS Investments