While there are always claims and counterclaims in the media about the precise state of negotiations, few absolute facts have emerged. Coakley - and Ayrshire based property tycoon who grew up in Viewpark - is certainly not short of a bob or two and has links to football as he was briefly at Dundee and his son, Adam, has just been released by Motherwell. The Evening Times suggests that all is done and dusted with only a few formalities to be settled while the BBC takes the other route and suggests there is still some distance to go.
What does this mean exactly? It is hard to tell. The Evening Times certainly presents a picture of a man who has an ambitious, if realistic, long term plan for the club. Installing Bryan Jackson as Chairman would instantly help win over the Motherwell fans who believe our ex-administrator was helpful in our survival and has our best interests at heart. Chris McCart, the cup winning legend, also has a solid reputation in football and even although Alan Dick rubbed some people the wrong way in his previous time here, there is little denying he knows how to run a club and his presence in the office would be hugely beneficial. As for his comments about Malpas, these are to be taken with a pinch of salt. No new prospective new owner threatens the manager with the sack so blatantly; even John Boyle made noises about being right behind Harri Kampmann (although of course he neglected to mention the knife held in his hand at the time). 
But questions, awkward questions, have to be asked about Coakley's intentions. Unless he has a cunning plan it is unlikely to see how he will ever recoup £10m from our club unless the ground is sold to developers. Even then it is doubtful that would give him a profit but then, as a property man himself, presumably he would know what he was doing. If he does intend to make a profit from selling the ground, that alone is no bad thing. A deal which sees us take up residence somewhere else might not necessarily be a bad thing and if Coakley is the man to make that happen then he is not to be begrudged a couple of million profit in the same way Fergus McCann turned around Celtic.
And there is always the chance that Coakley does have good intentions for us. Why does anyone buy into football clubs? Social conscience and local pride are possible but the simple need for the attention and glamour it brings is a more base instinct here. Coakley reportedly likes his loud jewellery and flash cars, a football club could be the perfect accessory for the man who has everything and given his wealth, £10m is not irreplaceable. If he intends to make no more or only limited investment after his initial purchase then we would hardly seem to be in a situation where we would be worse off than now. All the time we would have the impetus gained by a new broom sweeping clean and some energy and enthusiasm from the top - something which has been lacking in recent years.