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Doug King Takeover (4 Viewers)

  • Thread starter jackdg
  • Start date Nov 16, 2022
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shmmeee

Well-Known Member
  • Nov 17, 2022
  • #806
Earlsdon_Skyblue1 said:
Better than the council paying for yours m8.
Click to expand...

 
Reactions: Winny the Bish, Brighton Sky Blue and Otis

Sky_Blue_Dreamer

Well-Known Member
  • Nov 17, 2022
  • #807
Got through the thread and still pretty much none the wiser.

Instincts tell me something isn't quite right though so I'm definitely not celebrating yet and preparing myself for this to be another shitshow.

Maybe it's just a lifetime of being a Cov fan that that's my default position and I'd love it if down the line someone's quoting this to show how wrong i was.
 
Reactions: no_loyalty, GaryPendrysEyes, Flying Fokker and 7 others

Johhny Blue

Well-Known Member
  • Nov 17, 2022
  • #808
Jamesimus said:
Slightly off topic but does anyone know what the world record is for the highest number of wanks within one hour? Thanks.
Click to expand...
I’m not sure how many but the record goes all the way back to 1987
 
Reactions: robbiethemole, eastwoodsdustman, Jamesimus and 1 other person

duffer

Well-Known Member
  • Nov 17, 2022
  • #809
SBT said:
So questions I have tonight (beyond the earlier ones about his links to SISU):

* What’s the extent of this guy’s relationship with the local area, beyond this one Velo company?

* If King is buying the club in a personal capacity, what’s his personal net wealth and how is he funding the takeover?

* If he made his fortune on shorting oil prices in 2014 and 2020, how’s he doing financially now that prices are back at ~$100/barrel?

* Are the club’s debts being written off or paid off?

* Why is King’s bid for the CBS supposedly the only one which can guarantee that CCFC play home games there in the long term?

* Where does this leave the plans for - and I’m deadly serious here! - the Warwick University project?

* Who will sit on the club’s board and what happens to the current management team? (Boddy etc)

* Why do you build me up (build me up) buttercup baby just to let me down?
Click to expand...

Only one I can answer with moderate confidence is the "shorting oil" one. If he's made a fortune out of it I think that implies that he closed his position (i.e. took his profit) long before it went back up to current levels.

Everything else about this I'm clueless on!

It'll be an interesting day tomorrow in court, things are definitely moving in unexpected directions.
 

Bernie Rhodes Nose

Well-Known Member
  • Nov 17, 2022
  • #810
ccfc922 said:
Yeah, but they won't reject, SISU will sue them.
Click to expand...
And they batter people in court
 

tisza

Well-Known Member
  • Nov 17, 2022
  • #811
Sky_Blue_Dreamer said:
Got through the thread and still pretty much none the wiser.

Instincts tell me something isn't quite right though so I'm definitely not celebrating yet and preparing myself for this to be another shitshow.

Maybe it's just a lifetime of being a Cov fan that that's my default position and I'd love it if down the line someone's quoting this to show how wrong i was.
Click to expand...
Add me to that.
Concerns: whether debt is gone or just more likely moved somewhere.
-Don't see the arena and football club being in one company (even if they manage to get their hands on it)
- Why SISU are keeping 15%
- Timing
- any deal with bondholders is going to create some fairly substantial debt
-
 
Reactions: Sky_Blue_Dreamer, Jamesimus and wingy
L

long way home

Well-Known Member
  • Nov 17, 2022
  • #812
I think Ashley has this all locked up and after getting the stadium he will be very hard to stop if he sets his sights on the club.
 
W

wingy

Well-Known Member
  • Nov 17, 2022
  • #813
So should we be looking for a restructure of or with Otium or anything else.
The acquisition of the stadium Will not result in debt for the club initially she said..
 

Bernie Rhodes Nose

Well-Known Member
  • Nov 17, 2022
  • #814
Nick said:
Is the court case going to be live streamed or anything now if it's public?
Click to expand...
Probably ifollow
 
K

Kieranp96

Well-Known Member
  • Nov 17, 2022
  • #815
I really hope this bloke isn’t a sisu puppet, has wiped the debt will get some of the stadium and have some backers to pump some cash into the city, I’ve had enough of not having anything
 

Philosoraptor

Well-Known Member
  • Nov 17, 2022
  • #816
Brighton Sky Blue said:
If they aren’t competing then the timing of this announcement makes little sense.
Click to expand...

Not if you want to trade percentage of ownership in various companies.

Seems like it makes a lot of sense.

No extra debt on the stadium or the club.
 

robbiekeane

Well-Known Member
  • Nov 17, 2022
  • #817
SBT said:
* If he made his fortune on shorting oil prices in 2014 and 2020, how’s he doing financially now that prices are back at ~$100/barrel?
Click to expand...
i would imagine he closed out his position to make his fortune lol
 
Reactions: Kieranp96

CCFC_Irish

Well-Known Member
  • Nov 17, 2022
  • #818
The way I would look at this -

It is all a bluff by SISU, this guy seems like a SISU puppet by making a club who doesn't own a stadium look more valuable than it actually is. SISU are simultaneously saying bye Coventry City Fans you have got what you wanted when in reality we haven't whilst they are trying to make as much money as possible from MA. Not realising this is probably going to monumentally backfire in their faces - this guy was never heard of until 6 hours ago.
 
Reactions: no_loyalty

robbiekeane

Well-Known Member
  • Nov 17, 2022
  • #819
One thing is for certain, if this is smoke and mirrors and they've not really sold the club at all, then that is absolutely unforgiveable to fuck with the fanbase like that. They've done a tonne of dodgy shit but that is inexcusable
 
Reactions: SkyBlueCharlie9, robbiethemole, smoothasfudge14 and 9 others

Philosoraptor

Well-Known Member
  • Nov 17, 2022
  • #820
CCFC_Irish said:
The way I would look at this -

It is all a bluff by SISU, this guy seems like a SISU puppet by making a club who doesn't own a stadium look more valuable than it actually is. SISU are simultaneously saying bye Coventry City Fans you have got what you wanted when in reality we haven't whilst they are trying to make as much money as possible from MA. Not realising this is probably going to monumentally backfire in their faces - this guy was never heard of until 6 hours ago.
Click to expand...

From my understanding, SISU was always a vehicle for people to anonymously invest in a football club. We will never know how successful this was.

Maybe it is one of the investors, maybe he's a negotiator for a deal, or maybe he's someone who wants to buy a football club as well as a stadium.

Who knows.

I think some questions may be answered today, All I want to know is: will the football club have better investment than it has at the moment?

A lot of people wouldn't mind seeing top flight football back in Coventry.

It has been a while.
 
Last edited: Nov 17, 2022

stevefloyd

Well-Known Member
  • Nov 17, 2022
  • #821
Lets hope he's not related to Don ha ha but great news if it hapoens...when I get back to England hopefully those other twats have gone and its a bright future for us again having a stadium and everything....yeeee haaaaaa
 

Otis

Well-Known Member
  • Nov 17, 2022
  • #822
tisza said:
Add me to that.
Concerns: whether debt is gone or just more likely moved somewhere.
-Don't see the arena and football club being in one company (even if they manage to get their hands on it)
- Why SISU are keeping 15%
- Timing
- any deal with bondholders is going to create some fairly substantial debt
-
Click to expand...
I think SISU aren't keeping 15% at all and just said that to wind up the idiotic Sunderland fans who are still banging on about 1977.
 
Reactions: Flying Fokker

pipkin73

Well-Known Member
  • Nov 17, 2022
  • #823
Another out their idea. Have they "agreed" a value of the club with DK to make MA think that is what he needs to beat to buy the club?

Could the "initialy" out-of-debt thing be, if it don't work and DK ends up buying the Stadium then the club will take that debt on?

Trying to read between the lines, as i always say, what is not said is as, if not more important than what is said.

Fingers crossed for later today and the next few weeks PUSB.
 

Flying Fokker

Well-Known Member
  • Nov 17, 2022
  • #824
Mcbean said:
The rent discussions could be tricky if Ashley gets the stadium as the 10 year agreement is not valid after tomorrow
Click to expand...
There is a 10% chance of things going smoothly. SISU/the bond holders could go to court with their representations. HMRC has a role. It’s another ‘interesting’ time in our history. King seems to be the Trojan Horse.
 

Flying Fokker

Well-Known Member
  • Nov 17, 2022
  • #825
Otis said:
I think SISU aren't keeping 15% at all and just said that to wind up the idiotic Sunderland fans who are still banging on about 1977.
Click to expand...
Hear hear!
 

skyblueeyesrevisited

Well-Known Member
  • Nov 17, 2022
  • #826
Bernie Rhodes Nose said:
Probably ifollow
Click to expand...
It’s on ITV - Judge Rinder
 
Last edited: Nov 17, 2022
Reactions: Bernie Rhodes Nose

CDK

Well-Known Member
  • Nov 17, 2022
  • #827
His organisation has given SISU address on the stakeholding.
Stakeholding is all it is,what difference does it mean to robins budget?
 

skyblueeyesrevisited

Well-Known Member
  • Nov 17, 2022
  • #828
Flying Fokker said:
There is a 10% chance of things going smoothly. SISU/the bond holders could go to court with their representations. HMRC has a role. It’s another ‘interesting’ time in our history. King seems to be the Trojan Horse.
Click to expand...
Trojan? I thought SISU said King was local. Another bloody lie
 
Reactions: Flying Fokker

CDK

Well-Known Member
  • Nov 17, 2022
  • #829
tisza said:
Add me to that.
Concerns: whether debt is gone or just more likely moved somewhere.
-Don't see the arena and football club being in one company (even if they manage to get their hands on it)
- Why SISU are keeping 15%
- Timing
- any deal with bondholders is going to create some fairly substantial debt
-
Click to expand...
Think they have bought a stake in the club thinking about it.
 

Flying Fokker

Well-Known Member
  • Nov 17, 2022
  • #830
wisewel said:
A local businessman with no ties to football or to the local area but with tight ties to sisu buys the club and everyone buys the shit from Sisu PR
Click to expand...
Must admit, our fervor in wanting new owners seems a bit flat this morning.
 

fatso

Well-Known Member
  • Nov 17, 2022
  • #831
ms639 said:
Read it again..

‘And with Doug on board we intend to…’
The ‘we’ is the telling part. Doug is representing the interests of SISU. This is exactly the same as the new stadium debacle. It’s puts a name to a random rumour with the intent of bringing it credibility.

This is highly unlikely to happen and if it does it’s a change of name and not a change of interest. ‘Doug’ will represent SISU.

This is one of 2 things in my eyes.

1) it buys SISU time to formulate a counter offer on the stadium, representing a ‘serious’ interest in owning the club and the stadium

2) (the most likely). It artificially inflates the price of the club which allows SISU to make more money on the inevitable sale of the club to Ashley.

This is unstoppable force versus unmovable object territory…

Ashley who has made a habit of acquiring struggling businesses and turning them around versus SISU who have a reputation of taking on businesses in legally murky territory and then going to court to seek a favourable position.






Sent from my iPhone using Tapatalk
Click to expand...
It's probably a way for sisu to remain in the bidding, when certain other parties like CCC and ACL, wouldn't entertain them.

It also gives Sisu access to instant available liquidity that would be needed as proof of funds before any bid can be made. As although Sisu manage millions in their hedge funds, those funds belong to investors who would probably object to cash being siphoned off to buy a football stadium with a dubious history.
 
D

djr8369

Well-Known Member
  • Nov 17, 2022
  • #832
Nick said:
My thinking is that they knew Ashley was going to be in for the club after the stadium with the council standing behind him.

They have taken the club option away from him so it means Ashley is going to be buying a stadium with potentially no football club. I wouldn't be surprised if they have said the club will be moved if Ashley takes over it.

Leaves Ashley with an empty stadium.

They then hope Ashley pulls out or cuts them in.
Click to expand...
It’s a shout. Makes sense with the timing. I really don’t think we should be celebrating yet.
 
D

djr8369

Well-Known Member
  • Nov 17, 2022
  • #833
SHUNT31 said:
I’m sure an equity bid will mean having a share of the arena. For instance they will acquire 50% equity. That’s how I read it.
Click to expand...
Also means they can’t afford all of it.
 

junglej13

Well-Known Member
  • Nov 17, 2022
  • #834
Saddlebrains said:
May have got the percentage wrong but remember when i told you sisu 100% had an investor to take over the club??



Although im struggling to even believe this myself
Click to expand...
When you described what you had heard it actually sounded like it made sense and that Sisu finally had a credible exit plan. I had hoped it was a credible new owner.

Last night's announcement just sounds like complete nonsense to me. The statements I think are really amateurish. Ashley, the Council and the administrator will see straight through this I suspect.
 
Reactions: no_loyalty and djr8369
P

play_in_skyblue_stripes

Well-Known Member
  • Nov 17, 2022
  • #835
Where in London is the court and what time is it on?
I'm in London today.
 
D

djr8369

Well-Known Member
  • Nov 17, 2022
  • #836
Super Graham Withey said:
'If the bid is successful, it would ensure the Sky Blues remain able to play home games in the city and is the only bid which can make this long-term guarantee'

I hope the EFL are taking note of this threat
Click to expand...
Yeah this should be alarm bells for everyone.
 
S

skyblu3sk

Well-Known Member
  • Nov 17, 2022
  • #837
Unless this King chap has offered the original investors a pence in the pound return on their investment on the basis the club could go in to admin hence hmrc stuff. He essentially buys them out up to 15% which is what sisu originally put in (guess) SISU get to save face and the club be debt free making it more attractive to a new buyer all the other investors take a hit in the background but sisu are at the game for a new higher sale price...
 

fatso

Well-Known Member
  • Nov 17, 2022
  • #838
play_in_skyblue_stripes said:
Where in London is the court and what time is it on?
I'm in London today.
Click to expand...
It's at The Pink Rainbow private members club in Soho. It starts at 8pm, dress code is full black leather!







A friend told me
 
Reactions: RegiswasGod and bulko

Robinshio

Well-Known Member
  • Nov 17, 2022
  • #839
Doug king on cwr shortly
 
Reactions: torchomatic and thekidfromstrettoncamp
T

thekidfromstrettoncamp

Well-Known Member
  • Nov 17, 2022
  • #840
[/QUOTE]
Robinshio said:
Doug king on cwr shortly
Click to expand...
On in less than 5 munutes
 
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