The more I try and understand the details of the failed SAIC deals and the collapse of MG-Rover, the more I get confused. Does anybody here know in more detail exactly what properties/rights SAIC have already obtained?
It has been said that SAIC had already bought the rights to produce the
25 and 75 and the K-series engine. I've read in the news that SAIC have already terminated the royalty agreement with Powertrain to produce the K-series. Unfortunately I couldn't find any more information. Does this mean that MG-Rover (if they had survived) no longer actually have any right to produce the 25, 75 and K-series?If that's the case, does that mean the Phoenix Four effectively sold many of the intellectual properties of the MG-Rover group *before* securing any deal for SAIC to take over the entire group?
If that's the case, doesn't it mean that either:
a) Phoenix were utterly incompetent, leaving the company with absolutely no bargaining position whatsoever after selling the rights to the aforementioned products? Why the hell should SAIC want anything to do with the company after paying £67m for the product rights they wanted?
b) Phoenix knew exactly what they were doing: getting some money for something they knew SAIC wanted, knowing that MG-Rover was near to collapse, and that the best option for themselves was to let Rover go bankrupt with very few assets left, thus forcing it into administration leaving Phoenix with no liabilities?
Michael