Doug King Takeover (6 Viewers)

[BackRoomRummermill]

King of Shaves ffs

 

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[covmutley]

How about.... King (sisu's mate remember) to offer his 85% to Ashley on basis that its the 'best thing for the club and stadium to be one' or a line like that. That makes it easy for Ashley to acquire, Sisu get to come along for the ride with their 15% on the hope Ashley gets us promoted and Sisu can say they did all they reasonably could

 

[fatso]

Sisu will NEVER see a full return on that debt

They could do if they stick around for 6 months, back MR with funds in Jan and get us promoted via the playoffs.

Then take the premier league money, the TV money the sponsorship money, sell Vik, O'hare, Hamer and Sheaf and anyone else they can (?) And sell what's left to MA.

That's the only realistic option to maximise their return, because as it stands they won't get much from MA now.

 

[ccfc922]

Complete head fuck this.

 

[Briles]

Ashley is no mug. He paid for exclusivity because he knew a late bid would come in. He ain't a billionaire without being business savvy. Wouldn't suprise me if king doesn't go through with the sale now. Although would make him a local pariah. Either way nothings really changed from where we were last week. It's a "debt wiping" name change like with otium. Officially the debts gone but the interest still piles in so maybe he will still go through with it. It's all a bit meh

 

[The Philosopher]

Sisu will NEVER see a full return on that debt

That there is a problem. There was a chance they could have.

£17m for the stadium and then sell the lot for £75m

Stadium could be worth £35m, Squad etc. £40m

(….waits for some asshole to argue figures for sake of looking a c**t - you know who you are)

They had a real chance. Totally blew it.

I feel genuinely sorry for Joy, the Bondholders and the small creditors and those who’ve lost their jobs. Some seriously inept “big hitters” in this story.

 

[Philosorapter]

The DK takeover hasn’t actually happened yet.

Even if it is legit there is nothing stopping Ashley jumping in before it’s gone through.

Does he have exclusivity?

 

[fatso]

How about.... King (sisu's mate remember) to offer his 85% to Ashley on basis that its the 'best thing for the club and stadium to be one' or a line like that. That makes it easy for Ashley to acquire, Sisu get to come along for the ride with their 15% on the hope Ashley gets us promoted and Sisu can say they did all they reasonably could

Ashley will only be interested in owning 100%.

And as it stands, king has not had any approval from the football league so he doesn't have any say.

 

[NorthernWisdom]

(….waits for some asshole to argue figures for sake of looking a c**t - you know who you are)

Point of order, but you've been the one arguing the figures and being wrong every time, so if the cap fits...

 

[The Philosopher]

How about.... King (sisu's mate remember) to offer his 85% to Ashley on basis that its the 'best thing for the club and stadium to be one' or a line like that. That makes it easy for Ashley to acquire, Sisu get to come along for the ride with their 15% on the hope Ashley gets us promoted and Sisu can say they did all they reasonably could

Yep, I’ve said that a couple of times. You might be right.

 

[SBT]

wow, state of some folk

the interview clearly said we may not get the ground but he was still in

also ma isn't going to kick the club out

Are you still clinging on to the idea that all of Doug King’s links to SISU are purely coincidental?

 

[lacesoutdom]

Ex-Newcastle owner Ashley takes over CBS Arena

Former Newcastle United owner Mike Ashley takes over the operating companies which run the CBS Arena.

www.bbc.co.uk

 

[The Philosopher]

Point of order, but you've been the one arguing the figures and being wrong every time, so if the cap fits...

I said SISU couldn’t afford to sell for less than £60m and the club wasn’t necessarily worth that and they couldn’t crystallise their losses.

I’m not sure that was wrong.

 

[wantedDOA]

The King of close shaves obviously

 

[Philosorapter]

I'm going down the line now of whoever can provide better investment in the squad and facilities etc for city.

 

[robbiethemole]

That there is a problem. There was a chance they could have.

£17m fit the stadium and then sell the lot for £75m

Stadium could be worth £35m, Squad etc. £40m

(….waits for some asshole to argue figures for sake of looking a c**t - you know who you are)

They had a real chance. Totally blew it.

I feel genuinely sorry for Joy, the Bondholders and the small creditors and those who’ve lost their jobs. Some seriously inept “big hitters” in this story.

To think, they could have bought the Higgs 50% for about £7m and would have been in a much better position. Sorry for the little people? Absolutely Sorry for Joy? Not fucking likely.

 

[Evo1883]

They could do if they stick around for 6 months, back MR with funds in Jan and get us promoted via the playoffs.

Then take the premier league money, the TV money the sponsorship money, sell Vik, O'hare, Hamer and Sheaf and anyone else they can (?) And sell what's left to MA.

That's the only realistic option to maximise their return, because as it stands they won't get much from MA now.

All well and good , but if we miss out it's more debt and no promotion .. they won't risk that

 

[jordan210]

King out !!!!!!!!

 

[Nick]

Are you still clinging on to the idea that all of Doug King’s links to SISU are purely coincidental?

Nobody has said that, he literally said them himself in his interview.

 

[NorthernWisdom]

I said SISU couldn’t afford to sell for less than £60m and the club wasn’t necessarily worth that and they couldn’t crystallise their losses.

I’m not sure that was wrong.

You've been spouting for however long absolute bollocks about the Arena sale price!

 

[Philosorapter]

Would rather have Ashley than King to be honest with everyone.

 

[fernandopartridge]

Pretty sure it could be taken up a few levels by a landlord if needed.

How?

 

[MalcSB]

King has just said that the deal with Sisu is done, just needs EFL approval.

 

[MalcSB]

or can he? If ACL are now gone then all existing contracts are ripped up?

ACL not gone, is in administration so continues trading with existing contracts in place, including CCFC, exhibitions and concerts - just under a new owner.

 

[The Philosopher]

You've been spouting for however long absolute bollocks about the Arena sale price!

That it would be £35m. Yep. Got that wrong. Clearly worth that and surprised that underhand tactics combined with gross ineptitude meant MA nicked it.

I’ll own my hubris. You’ve owned me chief.

However, if DK ups his £25m to £35m…..(unlikely)

 

[NorthernWisdom]

ACL not gone, is in administration so continues trading with existing contracts in place, including CCFC, exhibitions and concerts - just under a new owner.

We are delighted with the acquisition of the CBS Arena which will complement the Group’s existing portfolio of brands and investments. Through the acquisition, we are pleased to have been able to secure a long term future for the Arena, protecting jobs and supporting the local community. In particular, we are looking forward to working with Coventry City Football Club.

This is a pleasing outcome, which helps secure up to 1,000 jobs in Coventry and ensures that the venue will continue to play a major role in the city’s economy as a world-class entertainment and hospitality venue and home for Coventry City Football Club.

 

[covmutley]

Ashley will only be interested in owning 100%.

And as it stands, king has not had any approval from the football league so he doesn't have any say.

No, EFL havent but Sisu have agreed it. So presumably they can say its now out of their hands, so from their point of view they have no choice. king could somehow transfre his right to buy the 85%to Ashley??

 

[NorthernWisdom]

That it would be £35m. Yep. Got that wrong. Clearly worth that and surprised that underhand tactics combined with gross ineptitude meant MA nicked it.

I’ll own my hubris. You’ve owned me chief.

However, if DK ups his £25m to £35m…..(unlikely)

It clearly wasn't worth that, as nobody, but nobody bid that!

 

[Sky Blue Pete]

King has just said that the deal with Sisu is done, just needs EFL approval.

This morning or just now just now

 

[djr8369]

How would it be viable? There crowds would be even smaller than they are now?

Just open the stand behind the goal?

 

[lacesoutdom]

ill be honest - i dont know whats going on at all anymore, im just gonna wait until someone tells me who owns what.

 

[The Philosopher]

To think, they could have bought the Higgs 50% for about £7m and would have been in a much better position. Sorry for the little people? Absolutely Sorry for Joy? Not fucking likely.

True. Looks like she had some bad advice from those around her. She learned to late.

I still feel sorry for her. She became more humanist toward the end.

 

[Alkhen]

Im going back under my rock, havent the foggiest what is going on at the moment. all seems a bit worrying

 

[NorthernWisdom]

To think, they could have bought the Higgs 50% for about £7m and would have been in a much better position. Sorry for the little people? Absolutely Sorry for Joy? Not fucking likely.

Lease was far shorter, also no control over what happened to the ground.

 

[KenilworthSkyBlue]

Pretty sure it could be taken up a few levels by a landlord if needed.

What would be the point though? You push this narrative that he's utterly desperate for the club when there's been very little evidence of that.