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Doug King Takeover (4 Viewers)

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

Kingokings204

Well-Known Member
  • Nov 17, 2022
  • #1,611
Clear as day tbh for me. The ground was the first step and now it’s the club. Joy knows this and someone said it earlier…. The big fish is circling the little fish and this is Ashley and joy in a nutshell. Ultimately I have no doubt Ashley will get the club now.
Just my opinion
 

The Philosopher

Well-Known Member
  • Nov 17, 2022
  • #1,612
Nick said:

Click to expand...
More content fir Gilbert’s book.
 
Reactions: skybluepm2 and wingy

fernandopartridge

Well-Known Member
  • Nov 17, 2022
  • #1,613
robbiethemole said:
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.
Click to expand...

It wasn't worth it, the 50% you're talking about is effectively 50% of a fifth (50 years) of the 250 year lease that Fraser Group has now acquired.
shepardo01 said:
What does this mean???.. anyone??
Click to expand...

He's just saying that it's a small world
 
J

JonesBob

Well-Known Member
  • Nov 17, 2022
  • #1,614
 
D

Deleted member 5849

Guest
  • Nov 17, 2022
  • #1,615
The Philosopher said:
Not saying she’s blameless but I’m allowed to feel sorry for her.

Get back in your box.
Click to expand...
You're allowed to feel sorry for Pol Pot and General Pinochet, but it doesn't stop it being a ridiculous thing to say.
 
Reactions: Finham, Otis, KAB and 10 others

Matt smith

Well-Known Member
  • Nov 17, 2022
  • #1,616
At least the statements from Fraser group surrounding working with the club is somewhat encouraging.
 
Reactions: matesx
R

robbiethemole

Well-Known Member
  • Nov 17, 2022
  • #1,617
Nick said:
Yeah don't get this.
You are happy for the club to suffer?
Click to expand...
fernandopartridge said:
It wasn't worth it, the 50% you're talking about is effectively 50% of a fifth (50 years) of the 250 year lease that Fraser Group has now acquired.


He's just saying that it's a small world
Click to expand...
Did they know that at the time? It looked like a good deal until CCC bought the parasites in. If they’d had 50% of the Stadium the outcomes would have been very different
 

fernandopartridge

Well-Known Member
  • Nov 17, 2022
  • #1,618
Matt smith said:
At least the statements from Fraser group surrounding working with the club is somewhat encouraging.
Click to expand...

In fairness why would they say otherwise? The club is the highest profile tenant and the biggest exposure the stadium has got.

It's an entirely different scenario from the awkward marriage of CCFC and Wasps.
 
Reactions: Terry_dactyl, Londonccfcfan and The Philosopher

The Philosopher

Well-Known Member
  • Nov 17, 2022
  • #1,619
Deleted member 5849 said:
You're allowed to feel sorry for Pol Pot and General Pinochet, but it doesn't stop it being a ridiculous thing to say.
Click to expand...
Right now, she might well be outside the court genuinely devastated.

You can compare her to mass murderers if you like, I think she’s someone who listened to bad advice and made initial poor decisions. This latest one poor too.

Mass murderers? Have a word.
 

olderskyblue

Well-Known Member
  • Nov 17, 2022
  • #1,620
Nick said:
What was said?
Click to expand...
he was also asked if MA wanted to talk to him about a takeover of CCFC, what would he say.

his response: I’m a trader….it’s what I do (or something like that I was in the car, so didn’t take note of it all)
 

fernandopartridge

Well-Known Member
  • Nov 17, 2022
  • #1,621
The Philosopher said:
Right now, she might well be outside the court genuinely devastated.

You can compare her to mass murderers if you like, I think she’s someone who listened to bad advice and made initial poor decisions. This latest one poor too.

Mass murderers? Have a word.
Click to expand...

Why? She's suffered zero loss herself.
 
Reactions: KAB, colin101 and matesx

joemercersaces

Well-Known Member
  • Nov 17, 2022
  • #1,622
Brylowes said:
My main source of shock comes from the energy bill of £2000 they’re a freaking great stadium complex, how do they get them that low.
Click to expand...
I know, its about the same as mine. They probably don’t have a 23 year old stepson who spends 26 hours a day on the Xbox with every light in his room blazing.
 
Reactions: duffer, robbiethemole, Gynnsthetonic and 1 other person
H

HuckerbyDublinWhelan

Well-Known Member
  • Nov 17, 2022
  • #1,623
The Philosopher said:
Right now, she might well be outside the court genuinely devastated.

You can compare her to mass murderers if you like, I think she’s someone who listened to bad advice and made initial poor decisions. This latest one poor too.

Mass murderers? Have a word.
Click to expand...
“Made initial poor decisions” her poor decisions have left us permanently homeless and gave us a trip to league two.

they’re catastrophic decisions made by a woman with a vendetta
 
Reactions: thekidfromstrettoncamp, GaryPendrysEyes, colin101 and 2 others
D

Deleted member 5849

Guest
  • Nov 17, 2022
  • #1,624
The Philosopher said:
Right now, she might well be outside the court genuinely devastated.
Click to expand...
My heart bleeds.

I've been in Northampton, genuinely devastated.
 
Reactions: lordy_87, Finham, duffer and 5 others
K

KenilworthSkyBlue

Well-Known Member
  • Nov 17, 2022
  • #1,625
fernandopartridge said:
But the point stands that he does not need to actively distress the club
Click to expand...

Thinking out loud here but.....

Surely in the long run it would cost MA equal to or more to distress the club than it would to purchase it outright/a significant stakeholding now.

Assuming the EFL would grant yet another groundshare again he'd be forced to bear the financial weight of operating a football stadium without a well supported sporting club playing in it for potentially 2-3 years - by which point the club is probably in L1 with all its key players sold to fund the move away.

Then if he did manage to pick the club up out of admin or perhaps for a nominal fee he would have to invest in the playing squad to get us back to the Championship then spend a significant sum to build a squad that is capable of winning promotion to the PL.

Ultimately would he want that kind of headache?
 
Reactions: Calista, Flying Fokker, Kingokings204 and 2 others

Nick

Administrator
  • Nov 17, 2022
  • #1,626
The Philosopher said:
Right now, she might well be outside the court genuinely devastated.
Click to expand...

And?
 
Reactions: lordy_87, robbiethemole, colin101 and 1 other person

fernandopartridge

Well-Known Member
  • Nov 17, 2022
  • #1,627
KenilworthSkyBlue said:
For all the posters that think MA would attempt


Thinking out loud here but.....

Surely in the long run it would cost MA equal to or more to distress the club than it would to purchase it outright/a significant stakeholding now.

Assuming the EFL would grant yet another groundshare again he'd be forced to bear the financial weight of operating a football stadium without a well supported sporting club playing in it for potentially 2-3 years - by which point the club is probably in L1 with all its key players sold to fund the move away.

Then if he did manage to pick the club up out of admin or perhaps for a nominal fee he would have to invest in the playing squad to get us back to the Championship then spend a significant sum to build a squad that is capable of winning promotion to the PL.

Ultimately would he want that kind of headache?
Click to expand...

Correct, a landlord with one prospective tenant would not want to impoverish that tenant such that it can't pay a rent or bring its 20k paying customers to the venue every other week!
 
D

Deleted member 5849

Guest
  • Nov 17, 2022
  • #1,628
olderskyblue said:
his response: I’m a trader….it’s what I do (or something like that I was in the car, so didn’t take note of it all)
Click to expand...
Why were they interviewing him in the car, and what wasn't he taking note of?
 

Flying Fokker

Well-Known Member
  • Nov 17, 2022
  • #1,629
The Philosopher said:
Right now, she might well be outside the court genuinely devastated.

You can compare her to mass murderers if you like, I think she’s someone who listened to bad advice and made initial poor decisions. This latest one poor too.

Mass murderers? Have a word.
Click to expand...
Which means your point of feeling sorry for her is a fair one. But maybe it’s just not in her stars to make the right decision? Come on Joy, thank King for his help, but sell up.
 

joemercersaces

Well-Known Member
  • Nov 17, 2022
  • #1,630
Brighton Sky Blue said:
Ratings:

Seppala 3
Onye Igwe 2 Went missing very early on
Orange Ken 3 Some bright moments-mostly fake tan moments sadly
Mark ‘Labo’ Labovitch 2 Went down like a deflated balloon
Dave Boddy 3 Left back in the boardroom-hopefully not seen again
Leonard Brody 2 So bad he texted for himself to come off in the first half
Slimy Tim 7 Excellent spin throughout the game
Byng 7
Steve Waggott 5 Loses a mark for taking out Hyam
Paul Clouting 2 Largely anonymous
Ray Ranson 3 Got sent off just before half time, reckless indiscipline

Subs
Doug King 5 A bizarre cameo appearance off the bench but ultimately too short to make an impact
Click to expand...
Remember PKH being caught red handed by big Tim affixing a ‘SISU Out’ balloon to his car
 
Reactions: skybluepm2 and Sky Blue Pete

Alan Dugdales Moustache

Well-Known Member
  • Nov 17, 2022
  • #1,631
I think Ashley wanted an investor in CCFC in place before taking over the stadium. Why , I don't know, but I think he may decide to buy the club further down the line and in the meantime wants some stability in the club. I think he'll offer some reassurance to the club and offer a reasonable deal in terms of tenancy .
 

Skyblue_CP

Well-Known Member
  • Nov 17, 2022
  • #1,632
Just taking a step back and thinking how bananas this whole thing is…

- Ex premier league football club owner who has previously expressed wanting to get back into football

- Said Ex owner owns football stadium

- Football club that plays in stadium is up for sale

- Ashley supposedly not interested in club so 85% gets bought out suddenly a day before the hearing.
 
Reactions: Sky Blue Pete
C

CCFCSteve

Well-Known Member
  • Nov 17, 2022
  • #1,633
shepardo01 said:
What does this mean???.. anyone??
Click to expand...

Fact is this was ultimately the judges call
 
Reactions: Sky Blue Pete

pusbccfc

Well-Known Member
  • Nov 17, 2022
  • #1,634

Big Doug has spoken
 
Reactions: Sky Blue Pete and Greggs

olderskyblue

Well-Known Member
  • Nov 17, 2022
  • #1,635
Deleted member 5849 said:
Why were they interviewing him in the car, and what wasn't he taking note of?
Click to expand...
Didn’t I mention I was taking him to London today?
 

The Philosopher

Well-Known Member
  • Nov 17, 2022
  • #1,636
joemercersaces said:
I know, its about the same as mine. They probably don’t have a 23 year old stepson who spends 26 hours a day on the Xbox with every light in his room blazing.
Click to expand...
I’ve a 12 year old lad.

I did the whole “Blackpool illuminations” rant the other day and realised I sounded like my dad.

FFS.
 
Reactions: skybluepm2, Sky Blue Dal, Terry_dactyl and 1 other person
T

Theonlywayisskyblue

Well-Known Member
  • Nov 17, 2022
  • #1,637
pusbccfc said:

Big Doug has spoken
Click to expand...
'I'm committed to the transaction' - SUPER news
 

AFCCOVENTRY

Well-Known Member
  • Nov 17, 2022
  • #1,638
pusbccfc said:

Big Doug has spoken
Click to expand...

He knew he wasn’t going to be able to get the stadium. What’s interesting is he’s not giving up.
 

Nick

Administrator
  • Nov 17, 2022
  • #1,639
Why does Doug remind me a bit of DJ Steves?

 
Reactions: Finham and Alkhen
K

KenilworthSkyBlue

Well-Known Member
  • Nov 17, 2022
  • #1,640
fernandopartridge said:
Correct, a landlord with one prospective tenant would not want to impoverish that tenant such that it can't pay a rent or bring its 20k paying customers to the venue every other week!
Click to expand...

I don't deny he perhaps had or has his eye on the club. But there's little evidence to suggest he's looking to cripple it so he can buy it on the cheap.

There's also empirical evidence to suggest that if he goes down that route SISU won't lay down willingly. He's not an idiot, why would he waste potentially millions on a club he couldn't care less about and has zero emotional attachment to.
 
Reactions: Skyblueweeman, fernandopartridge and Deleted member 5849

Samo

Well-Known Member
  • Nov 17, 2022
  • #1,641
Alan Dugdales Moustache said:
I think Ashley wanted an investor in CCFC in place before taking over the stadium. Why , I don't know, but I think he may decide to buy the club further down the line and in the meantime wants some stability in the club. I think he'll offer some reassurance to the club and offer a reasonable deal in terms of tenancy .
Click to expand...

I think this is the most reasonable assumption from today.
 
Reactions: Gibbo

Matt smith

Well-Known Member
  • Nov 17, 2022
  • #1,642
fernandopartridge said:
In fairness why would they say otherwise? The club is the highest profile tenant and the biggest exposure the stadium has got.

It's an entirely different scenario from the awkward marriage of CCFC and Wasps.
Click to expand...
Yeah I get that

interesting whether the figures with the lease can alter because of the fresh ownership.
 

Matt smith

Well-Known Member
  • Nov 17, 2022
  • #1,643
Also

Do we think doug king will stick around and support the manager with some investment?
 

hill83

Well-Known Member
  • Nov 17, 2022
  • #1,644
Challenging Godden on barnet strength
 
Reactions: GaryMabbuttsLeftKnee, AOM, Saddlebrains and 2 others

oldskyblue58

CCFC Finance Director
  • Nov 17, 2022
  • #1,645
I think in terms of the stadium the only shock i would have had would have been MA/House of Fraser not ultimately owning it. Unlike the efforts of other parties, their bid was carefully choreographed and slickly carried through. I think for the stadium it is probably the right move and fit, for CCFC as it stands not so. The Bondholders for reasons i listed previously on the other thread had little chance to change things. CCFC/KIng/SISU simply tried to bully the court and stir up the bondholders & fans to pressure a different result, it didn't have much substance, he hasnt even bought CCFC yet and would have resulted in weeks of delay.

The announcement saying KIng was buying CCFC now that was a surprise. Excited at first I did get concerned rather than excited by it ultimately

Good news that at first glance SISU were going. Seems they are not. That the new owner has funds to invest - we shall see

I do not buy in to the notion that King needed Seppala around because of her knowledge of CCFC. The biggest asset is the knowledge of the playing side and that is not Seppala and seemingly neither is it King

King is not a CCFC fan so this is nothing more than a business opportunity by another hedge fund based in the Caymans. The opportunity i would think was to buy the arena out of insolvency at a knock down price first and foremost

I get concerned when new owners are going to pay off all liabilities and leave the club debt free, can't really comment on the mechanics of it yet but unless the owners debt is cancelled or money is all put in by way of shares then it becomes owners debt - we have heard that before haven't we Fisher used to regularly spout that the club was debt free, it never was

I listened to the interview given to Simon Gilbert (who i think generally has done a good job covering the Arena & CCFC buy out) and the sense i got from King's answers was pretty much like the judge, a lack of real substance for what was needed. Seemed to deflect SG questions with half answers or self promotion, a bit patronising. I wonder who asked for the interview.

I still get a feeling from the SISU side of "we tried but we were too late or blocked what's going on is unfair"

Apparently making the bigger offer for of the stadium for the benefit of the bondholders .......... Really??? Come on. I wouldn't mind guessing that due diligence would have revealed big problems and the offer would have to have been significantly lowered

Out of interest where does King live is it in the area? if not is he a "local" businessman, his factory is reasonably local. Mind you to be fair Ashley is far from local too.

Clearly he has, whether directly or indirectly links to SISU related parties

I wonder what the deal for CCFC is, and how much of it is cash and how much is a fund or loan swap. if buying in to the share capital from the Cayman Islands hedge fund we may never know

Too many other little things just do not add up for me.

That said if he lives up to the hype and PR, takes CCFC further without risking financial ruin good luck to him. I will probably then forget my concerns, but not just yet. For now will keep my fingers crossed that he delivers on what he has promised.

I would not be surprised if todays decision ended up being challenged in court
 
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