Good news at last!!! (2 Viewers)

olderskyblue · Dec 6, 2011

I listened to an independent insolvency expert on Keys and Gray a couple of weeks ago who had handled the Plymouth administration. He said that they are obliged to accept the "highest" bid for the club, which may not necessarily be the best for the club. This could make life interesting if we do go into admin.

He also said the guy who eventually took Plymouth over (James Brent?) was not the highest bidder, but the funds from the highest bidder had not materialised, and Brent got it as he was the only other interested party. (or something like that)

oldskyblue58 · Dec 6, 2011

Administration might not achieve the result everyone thinks olderskyblue - some people are making some very sweeping assumptions as to where it might lead

Nonleagueherewecome · Dec 6, 2011

crowsnest said:
backed by a billionaire

Surely he can now raise his bid to £2.

That's way above what it's actually worth! Frankly, they should be paying him to take something of their hands that is only costing them money.

Nonleagueherewecome · Dec 6, 2011

oldskyblue58 said:
believe it when i see it ..... as with so much at CCFC. As such it isnt good news it is just a statement from Keys that may or may not have substance - sorry to put a downer on it..... but there is no hard evidence of anything

and if reading the report right it has now become the Keys bid???? Says helping GH but then says he (keys)has put the money and people together????

Agreed OSB. but this isn't new by Keys; he claimed to have attracted the previous set of Hoffman investors, too! Maybe they are billionaire guerrilla's?

smileycov · Dec 6, 2011

Surely though if SISU are at the heart of this mess, and we go into Admin, they cant retain us again? The league must be able to do something about that scenario..............i hope!! or did i read that wrong

wolfie · Dec 6, 2011

its either a light at the end of the tunel, or its fools gold glistening in the last dregs of light getting thru the closing trap door..........:facepalm:

AFCCOVENTRY · Dec 6, 2011

Technically the club is worthless with the current debt and lack of assets.

So £1 is a fantastic offer in the first place

tisza · Dec 6, 2011

OSB - Haven't SISU made things more complicated (with football debts being the preferred creditors) by increasing so many playing contracts recently? Didn't KD say something about the average squad remaining playing contract was now 3 years?

oldskyblue58 · Dec 6, 2011

tisza said:
OSB - Haven't SISU made things more complicated (with football debts being the preferred creditors) by increasing so many playing contracts recently? Didn't KD say something about the average squad remaining playing contract was now 3 years?

Guess it depends on the final outcome of administration. During administration they continue to be paid and an administrator may look to sell them too. If the club goes bust then the players get to claim against the remaining value of their contract i would guess(not likely to be much in the pot though). Any new owner is going to need players so if still here their contracts remain valid ...... of course a new owner may seek to offload some at a later date to balance the books. Which ever way you look at it the players win...... the contracts give the business a basis to continue........... SISU have created something to sell or get value for if worst happens and tied the club into longer term contracts that are a liability in normal trading but unlikely to be paid if it all goes bump

blueflint · Dec 6, 2011

what billionaire and why has he not got involved more his self still worried about this ans sisu wont give a shit

:blue::blue::blue:

EleanorRigby · Dec 6, 2011

But is Coventry City a stand alone business or is it a subsidary. Can a subsidery be put into administration will other parts of the business flourish. So is why these companies are cropping up. We have no shareholders, or do we ? And quoting RR when he and SISU came in we have no overdraft.

TheParsonsHose · Dec 6, 2011

I think this bid is old ground myself. Good information though OSB!

We seem to say a lot on talksport without really saying anything and the same can be said about everybody else involved.

ccfc_Tom · Dec 6, 2011

Again i'll believe it when i see it

BackRoomRummermill · Dec 7, 2011

I will only take this as a positive when I see it, It obvious to even non supporters that the current situation is bad for all interested persons.

Time to leave the sinking ship SISU now, that way you will at least not go down and take CCFC with you forever to the bottom of the ocean and league

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