Sisu make official complaint over Coventry councillors' conduct (9 Viewers)

[Astute]

Well no he quoted page 3 of the bond articles that as it doesn't say moonstone isn't a hedge fund that's proof.

You make some stupid comment to support him quoting an automotive firm. Moonstone is a financial institution regulated by Maltese law of that there is no doubt.

Just found your defence of him and quoting an automotive firm odd.

Why not disect what I said instead of coming out with a bullshit comment? Because it isn't your way is it.

I have never defended Wasps or anyone with anything to do with them. I also don't constantly attack people with words to defend people like you do. Fair play to you. Keep your bullshit to yourself. Not going to argue with an idiot anymore. Had enough of arguing with you.

 

---

[fernandopartridge]

As long as they serve the interest payments on the existing bond scheme; there will be other investors readied to invest in another bonds issue in seven years' time. If they have excess revenues, the bond need raise a smaller sum next time - so the £35m can be repaid in a mix of cash plus new bond scheme. They could - provided they're paying the interest - spin this wheel three of four times to pay the sum down to zero. this wouldn't be a term that different to a commercial mortgage on borrowings of this size in any case

Sage assessment, dear chap.

 

[robbiethemole]

To think this bollocks was the centre of our world only 9 years ago!!!!!
Look at what MR and AV have achieved since ( with the help of some players and fans, of course), we could never have believed the good times would be back so quick and so often.
I still think Seppala and Fisher should have been publicly abused in the centre circle on our first game back hahahahahah
What a pair of cunts they were.

 

[chiefdave]

Sage assessment, dear chap.

I could never understand why so many people didn't see an issue with repaying the bond. You had a rugby club losing millions and a arena losing millions and the majority of people seriously thought it wouldn't be a problem

 

[Terry Gibson's perm]

I could never understand why so many people didn't see an issue with repaying the bond. You had a rugby club losing millions and a arena losing millions and the majority of people seriously thought it wouldn't be a problem

The people who bought it were greedy as at the time the returns were massive compared to bank interest and probably thought if anything goes wrong we have the arena to sell, but probably hadn’t thought who would want it.

 

[lordsummerisle]

Sage assessment, dear chap.

He was such a condescending verbose c**t.

 

[lordsummerisle]

He was such a condescending verbose c**t.

Obviously my swearing privileges have gone!

 

[ccfc1234]

Two questions that puzzle me about sisu and the sale to King.

1. How much was the sale for?

2. Why did Sisu not sell Vic and Gus before transferring the ownership to Doug as in effect they left 35 million behind and that is not consistent with the behaviour of asset strippers.

 

[Terry Gibson's perm]

Two questions that puzzle me about sisu and the sale to King.

1. How much was the sale for?

2. Why did Sisu not sell Vic and Gus before transferring the ownership to Doug as in effect they left 35 million behind and that is not consistent with the behaviour of asset strippers.

Number two always amazed me it doesn’t make sense but nor did a lot of what they did

 

[Colin Steins Smile]

Two questions that puzzle me about sisu and the sale to King.

1. How much was the sale for?

2. Why did Sisu not sell Vic and Gus before transferring the ownership to Doug as in effect they left 35 million behind and that is not consistent with the behaviour of asset strippers.

On point 2. Sisu would never have realised £35m.
I would guess that the due diligence process for taking ownership of the club started before Xmas. So DK might have insisted on those players being in place at the point of ownership transfer.

 

[Skybluecol]

On point 2. Sisu would never have realised £35m.
I would guess that the due diligence process for taking ownership of the club started before Xmas. So DK might have insisted on those players being in place at the point of ownership transfer.

Absolutely this....the run from Feb, play off semi final games plus wembley added massive value to them both. I'd bet that sisu would have thought Gyok 12 and Hamer 7 as very best, when discussions started

 

[MalcSB]

Two questions that puzzle me about sisu and the sale to King.

1. How much was the sale for?

2. Why did Sisu not sell Vic and Gus before transferring the ownership to Doug as in effect they left 35 million behind and that is not consistent with the behaviour of asset strippers.

There wasn’t a handy transfer window to allow a sale of players.

 

[Ashdown]

SISU = Total Scum. ! They never cease to think they can ‘batter someone in court ‘ to try and grab a bit of undeserved compo.
You wouldn’t go near them if your life depended on it!
As for Wasps…..just stay dead you pests !

 

[Sky Blue Pete]

There wasn’t a handy transfer window to allow a sale of players.

In the January?? Um

 

[M&B Stand]

Two questions that puzzle me about sisu and the sale to King.

1. How much was the sale for?

2. Why did Sisu not sell Vic and Gus before transferring the ownership to Doug as in effect they left 35 million behind and that is not consistent with the behaviour of asset strippers.

3. Why did he buy it?

 

[Theonlywayisskyblue]

The people who bought it were greedy as at the time the returns were massive compared to bank interest and probably thought if anything goes wrong we have the arena to sell, but probably hadn’t thought who would want it.

Though the grapevine says that those who majority funded the bond were behind the proposed rescue plan that the Board turned down

 

[CCFCSteve]

On point 2. Sisu would never have realised £35m.
I would guess that the due diligence process for taking ownership of the club started before Xmas. So DK might have insisted on those players being in place at the point of ownership transfer.

Yeah, either fire sale in Jan or accept a better offer from King that incorporated those two players valuations. There’s no doubt king would’ve made a profit on that element of the deal as nobody would’ve guessed 35m+ for the pair in Jan, although I did wonder if some kind of profit share was possibly built into the sale of club (maybe this was tidied up when king bought the balance of the SISU shares, who knows)

 

[LastGarrison]

Things are obviously demonstrably better under King and the feel good factor is back but let’s be honest there are still a number of unanswered questions (like the ones raised above) that don’t make sense.

It does make you think if things hadn’t started well under King and say we’d lost Gyok and Harmer for a pittance whether there would be a like more scrutiny on this side of things.

But for the time being………fuck it!

 

[Sick Boy]

3. Why did he buy it?

Apparently it was to pay off a debt from SISU to King.

 

[djr8369]

Two questions that puzzle me about sisu and the sale to King.

1. How much was the sale for?

2. Why did Sisu not sell Vic and Gus before transferring the ownership to Doug as in effect they left 35 million behind and that is not consistent with the behaviour of asset strippers.

If they had there would have been less value in the club and not enough to square their debts with King. As above he likely insisted on keeping them.

As to why I think DK knows this would be a challenge but relished the idea and he’s clearly thrown himself into it and enjoying himself.

 

[MalcSB]

In the January?? Um

King had already taken over in January.

 

[Hobo]

Two questions that puzzle me about sisu and the sale to King.

1. How much was the sale for?

2. Why did Sisu not sell Vic and Gus before transferring the ownership to Doug as in effect they left 35 million behind and that is not consistent with the behaviour of asset strippers.

If it is true that the sale of the club by SISU to King was to pay off a debt owed? They could hardly do that by handing over an asset stripped shell. I suspect the value of the club was less than the debt but contained enough potential for King to accept it.

 

[Grendel]

If it is true that the sale of the club by SISU to King was to pay off a debt owed? They could hardly do that by handing over an asset stripped shell. I suspect the value of the club was less than the debt but contained enough potential for King to accept it.

The debt was internal debt. Arvo and Sisu Master Fund. There is nowhere in the accounts that suggest there was any debt owed to him at all within Otium.

 

[oldfiver]

3. Why did he buy it?

Because this financially astute business man thought he had secured the ground as well !

 

[oldfiver]

If it is true that the sale of the club by SISU to King was to pay off a debt owed? They could hardly do that by handing over an asset stripped shell. I suspect the value of the club was less than the debt but contained enough potential for King to accept it.

It is not true - end of this silly story

 

[Sky Blue Pete]

King had already taken over in January.

Course but it was coming when sisu owned

I think lots of mistakes were made but I genuinely think that Joy recognised that in order for the club to progress she needed to move on
Leaving when she did gave the person who took over a real opportunity and this was a good thing

 

[jimmyhillsfanclub]

Because this financially astute business man thought he had secured the ground as well !

Interesting.

Didn't he say the reason he didn't get involved with a stadium bid earlier is they "hadn't really considered it" or something similar.....

Certainly struck me as odd/bullshit/incompetent at the time.....

 

[Grendel]

Course but it was coming when sisu owned

I think lots of mistakes were made but I genuinely think that Joy recognised that in order for the club to progress she needed to move on
Leaving when she did gave the person who took over a real opportunity and this was a good thing

She agreed HOT with William Storey - she was desperate

 

[Terry Gibson's perm]

She agreed HOT with William Storey - she was desperate

That is beyond desperate having that weirdy beardy would have been a nightmare.

 

[Sky Blue Pete]

She agreed HOT with William Storey - she was desperate

Did she?

 

[SkyBluePower]

Was there anything more to the change of the original deal by King where SISU retained 15% to full ownership?

 

[Sick Boy]

Interesting.

Didn't he say the reason he didn't get involved with a stadium bid earlier is they "hadn't really considered it" or something similar.....

Certainly struck me as odd/bullshit/incompetent at the time.....

Pretty sure he said they didn’t have their ducks in a row.

 

[Hobo]

The debt was internal debt. Arvo and Sisu Master Fund. There is nowhere in the accounts that suggest there was any debt owed to him at all within Otium.

Has anybody said the money owed was from Otium? It is just something people have said. But like most rumours on here I take with a large pinch of salt

It is not true - end of this silly story

It might be a silly story? But my main point is still valid regarding the sale of players. Why would he have wanted to buy an asset stripped shell?

 

[Grendel]

Did she?

The BBC claimed so

Details emerge about William Storey's "£30m" bid to buy Coventry City

Latest Coventry City news from CoventryLive as businessman William Storey makes a takeover claim involving the Sky Blues and mounts a legal challenge to Doug King's deal

www.coventrytelegraph.net

 

[Grendel]

Has anybody said the money owed was from Otium? It is just something people have said. But like most rumours on here I take with a large pinch of salt



It might be a silly story? But my main point is still valid regarding the sale of players. Why would he have wanted to buy an asset stripped shell?

Well he hasn’t in reality. He provided it seems some short term funding in January to cover operating losses. I guess from his perspective whatever fund he’s got that from it’s not a huge sum - around £7m? - there are player assets to sell now and a shot at promotion when he can then walk away with a big profit.