Coventry City fans to discuss possibility of supporter-led takeover

Discussion in 'Coventry City General Chat' started by skybluebeduff, Jan 11, 2017.

  1. skybluebeduff

    skybluebeduff Well-Known Member

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  2. ricohroar

    ricohroar Active Member

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    The Sky Blue Trust and Supporters Direct will discuss how fans could look to secure a stake in the club


    Coventry City’s largest supporters group has arranged a meeting to discuss the possibility of fan-led takeover of the club.

    The Sky Blue Trust will hold an open meeting this month with representatives of Supporters Direct who have a track record of helping fans secure stakes in their clubs.

    It comes after the Trust made a formal approach to Joy Seppala , the chief executive of Coventry City owners Sisu, to discuss the possibility of a supporter-led takeover. But the approach was rejected before any meeting or discussions could take place .

    Sisu snubs Coventry City takeover approach and insist club is not for sale
    Thousands of fans have demanded that the London hedge fund put the club up for sale and actively seek to attract a new owner after nine years of CCFC decline under Sisu .

    The meeting will be held at The Albany Club, in Earlsdon, from 7.30pm on Monday, January 23.


    [​IMG]
    CCFC and Sky Blue Trust
    A spokesman for the Trust said: “Over 20,000 people have signed the Coventry Telegraph petition calling on Sisu to put Coventry City up for sale.

    “Campaigning, involving large numbers of City fans, is producing a clamour for that to happen, which grows in strength by the day and which has received clear backing from many respected people in football.

    “What can supporters do to try to bring that about? Could fans be involved in buying the Club from Sisu and seeking to reverse the appalling decline of the last nine years.

    Scotland boss Gordon Strachan says people are interested in Coventry City takeover
    “The national organisation, Supporters Direct, has been working since 2000 to help supporters gain influence in the running and ownership of their club. The meeting will hear from representatives of Supporters Direct about the numerous examples of successful supporter ownership of clubs, both in their entirety and in partnership with wealthy investors.

    “The meeting will explore how possible supporter ownership should be tackled. Supporters Direct and Trust representatives will then describe possible ways forward in Coventry involving, as necessary early steps, a process of consulting and informing Coventry supporters on the opportunities and issues involved.”
     
  3. skybluebeduff

    skybluebeduff Well-Known Member

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    Thank you, the Trust should of used this avenue before they made it aware to Tim that they wanted to discuss a takeover.
     
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  4. clint van damme

    clint van damme Well-Known Member

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    I'd love this but after all the fall outs and division among the support over the last few years this it could start world war 3.
     
  5. Manchester_sky_blue

    Manchester_sky_blue Active Member

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    A takeover is the wrong approach right now, but that doesn't mean we shouldn't attempt to gain some sort of official foot hold in the governance of the club
     
    Last edited: Jan 11, 2017
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  6. Nick

    Nick Administrator

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    The same supporters direct who worked with the council's PR company?

    Will be interesting to see what they advise as we aren't in an admin situation so it's only a case of getting some money and buying it.

    I think it is their main aim though.
     
  7. clint van damme

    clint van damme Well-Known Member

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    so is that a conflict of interest or do PR companies work for whoever pays them? Isn't there a poster on here who works in PR?

    Maybe they could shed some light on it.
     
  8. Earlsdon_Skyblue1

    Earlsdon_Skyblue1 Well-Known Member

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    Right round the corner from me.

    Suppose I better pop along.
     
  9. skybluebeduff

    skybluebeduff Well-Known Member

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    Reckon I might tag along just to be nosey! ;)
     
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  10. Nick

    Nick Administrator

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    No, it came out during the court case that somebody from Supporters direct was emailing them about going to Seppala's house I think it was. That's from memory so would need to double check!

    All they can advise really is how they could structure the club etc, we have been told multiple times there is already a plan in place?
     
  11. Rob S

    Rob S Member

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    I think that this is a sensible move by the Trust although they will have been speaking to SD about it in private for a good few years. Hopefully Preston Haskell IV, Ray Ranson or Gary Hoffman aren't going to be involved ;-)

    One thing worth pointing out – remember our first opponents after we got relegated to the Championship? Stockport County? Have a look at how things went there to counter the success stories of AFC Wimbledon & Pompey before we get too excited.
     
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  12. Nick

    Nick Administrator

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    I guess it will be more about how the shares would work and stuff wouldn't it? The processes of raising and collecting money etc etc?

    Would be interesting to know how other clubs went about it.
     
  13. skybluebeduff

    skybluebeduff Well-Known Member

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    Would also be interesting to know who the investors are and what they're willing to put into the club, surely the trust have some people lined up?
     
  14. Nick

    Nick Administrator

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    Would hope so, I doubt many "normal" fans will be able to throw thousands in each.

    Just hope whatever is proposed it doesn't have the silly digs in that ruins it.
     
  15. CJ_covblaze

    CJ_covblaze Well-Known Member

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    Talking to someone from Wycombe atm and they may be able to send someone too. A 100% fan owned club that is relatively stable.
     
  16. no_loyalty

    no_loyalty Well-Known Member

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    And Hereford, Boston and Darlington
     
  17. Nick

    Nick Administrator

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    Realistically how viable is it? All we have pretty much seen is articles in the telegraph about being fan owned, fan owned statements etc. What's the plan already in place etc if we became fan owned?

    Just hope it's not another stunt to get fans worked up and get some protests.
     
  18. skybluebeduff

    skybluebeduff Well-Known Member

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    At least we'd have a fresh start with all that need negotiating with.
     
  19. Speedies_Chips

    Speedies_Chips Active Member

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    Should have.
     
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  20. Nick

    Nick Administrator

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    It wouldn't be really with the Trust as it is, the whole thing would need a reform.

    One day putting out statements having silly digs, the next day negotiating long term rentals deals with wasps? It would be "How much is it?", "We haven't worked it out yet, but if you sign now we will just add the price in","are you sure?","we hate sisu too remember","ok done".
     
  21. Monners

    Monners Well-Known Member

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    It doesn't seem to me like a stunt, and most fans are already pretty "worked up" about the state of the club. And some positive, open dialogue between supporters and those with experience from other clubs can only be a good thing. It may even start the ball rolling to encourage interest from potential buyers.
     
  22. hill83

    hill83 Well-Known Member

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    Let's see how it goes first Nick.
     
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  23. Nick

    Nick Administrator

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    Yep, we might get some decent ideas from it for fundraising etc.
     
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  24. Monners

    Monners Well-Known Member

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    Yep, agree
     
  25. Grendel

    Grendel Well-Known Member

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    Could be good. A club that openly admits to running a break even business model and has a low wage structure
     
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  26. hill83

    hill83 Well-Known Member

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    I'd hope there would be more interest from local businesses etc if fan owned. It's a long way off, but I'd welcome it. Even if temporarily before selling on to Megabucks El Mikhailov.
     
  27. oldskyblue58

    oldskyblue58 CCFC Finance Director

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    I can tell you now it is not a stunt and none of the old faces have been involved

    Everything has to be explored, it might not work for CCFC, there might be better options, events may overtake it, but at least the Trust can make informed decisions and will have provided an option

    The idea certainly seemed to rattle TF
     
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  28. Nick

    Nick Administrator

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    Would have to do the fans funding type things where you get things back in return, basically pimp everything out they can in return for matchday treats, behind the scenes days etc. A good thing as it would build up a bit of pride too.

    I'd have no quarms chucking in what I could behind a solid plan.
     
  29. Rob S

    Rob S Member

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    The problem we have ATM is despite the 'SISU out' talk, I've not seen anything remotely resembling a plan as to how that how that happens & what the way forward is. For all the CT's 'put CCFC up for sale and find a buyer' they seem to be more interested in getting a quote from anyone who has played for or managed Cov rather than finding actual buyers who could make a difference.

    This meeting looks like it could be the start of a plan but there's still a long way to go. The options seem to be either damage the club so much that SISU give up – a very dangerous game considering we will want success when they leave and the lower we sink, the harder it will be to get back– or try and buy.

    If it comes down to buying, if everyone who has signed the petition chips in £250 (highly unlikely, let's be fair), there will be £5m which might get you a sit-down with Joy.* On top of that we'll need money, or at least a line of credit, to guarantee contracts (players, staff, stadium, etc.) and so forth. The problem is, what is the security for that? (We will have the advantage of inheriting a club that is breaking even tho'. :smuggrin:)

    So maybe it comes down to the Trust with other investors and we're back in Preston Haskell IV-land. Are there any legitimate, potential investors out there that don't already have their hands dirty from previously fucking up the club?

    *This is a total guess BTW.
     
  30. covcity4life

    covcity4life Well-Known Member

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    how does this work? fans put in own cash for a piece of the pie?
     
  31. Nick

    Nick Administrator

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    Think that's where it needs businesses too who can put a bit more in, say it's a lifetime logo on the scoreboard for a price etc.

    The only issue is being able to offer things before it goes through, then having to give it all back if it didn't. Unless it is just done on the promise?

    Haven't Portsmouth just fan funded an academy?

    Agree about the plan, once it's out there people can get behind it.
     
  32. Rob S

    Rob S Member

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    Indeed, although my point was that the Stockport Trust taking over ended up with them in administration and a lot of animosity.
     
  33. Esoterica

    Esoterica Well-Known Member

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    Based on TFs very deliberate attack on the Trust's wish to meet with Joy to discuss what it would take for a takeover, then this has to make it an avenue worth persuing based on that alone.
     
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  34. Nick

    Nick Administrator

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    Can't find the link now to Tifosy for Portsmouth and what they had, I think they even had players going for tea at fans houses.
     
  35. oldskyblue58

    oldskyblue58 CCFC Finance Director

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    This meeting is not going to give you the plan, so do not expect it to. It will tell you how it could be done if there is a willing seller - which by all accounts there isn't, and how other clubs have got on. Fans ownership is not a single model there are options. This is early days and getting the ball rolling on one side of the equation. The Trust has however spent a decent period researching this and putting professionals in place, so this meeting is not a fact find for the Trust Board.

    I would not get too hung up of the figures, there are plenty of ways to finance a deal. It should at least alert others that there is positive interest in the club by fans. That fans value it and are prepared to do something more than protest

    There is of course risk attached to it. The whole thing could fail like some other clubs. It could also succeed.

    Its question time, its time for the Trust to communicate with fans, hear their concerns and begin to answer questions about fan ownership

    But one thing the mechanics of all this could provide is a safety net against the owners filing for insolvency, if that happened there would be no mad scramble by the Trust because they would have the mechanics and professional help in place.

    My own opinion is the Trust is the last people JS would sell to but that's just my opinion.
     
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