What? Easy with the headline, I thought this was factual! No way, Joe Cole, etc.They can't buy the ground without buying the club anyway. They've opened the stable door before the horse is ready to bolt
My understanding of how takeovers work is shaky, so feel free to correct me if i'm wrong.
But from what i believe- the proposition goes to the board of directors, who assess the bid, and have a legal obligation to decide whether it is in the best interests of the club. If they decide it is, the bid gets passed onto the owners. Correct? Almost correct?
Anyway- if this is true, then having a deal in place to buy the Ricoh helps to establish the bid as being "in the best interests of the club". Anyone can come along and say "I'll buy the stadium", but if someone says "I'll buy the stadium, look, I've got a deal with the council already", that legitimises it.
Of course, my fear is that our board is full of people full of self-interest, and they know that if the takeover goes through, they'll be out of a job. So they'll look to pick holes in the bid, such as to justify it not being in the club's best interests. So even if Hoffman and co knock down these walls, they might still have a hard time. And this is even before reaching SISU.
I'm possibly totally talking out of my arse here, someone that actually knows what they're on about can come along and correct me on the bits where i'm wrong. This is just my understanding on why the stadium deal is a good sign, but why i ultimately think the takeover bid is probably never going to amount to anything. Does this make any sense?
(Part of me feels like deleting this for how wrong i fear i am, lol... but i'll leave it here for the sake of hopefully someone coming along and explaining how it actually works!)
Every time I hear the line "Sisu want the return of their 30m investment" I just shake my head and laugh.
A single, anonymouse source has claimed the Hoffman group has made a deal equal to twice the amount that has ever been suggested before and we're expected to accept this as fact?
A single, anonymouse source has claimed the Hoffman group has made a deal equal to twice the amount that has ever been suggested before and we're expected to accept this as fact?
A single, anonymouse source has claimed the Hoffman group has made a deal equal to twice the amount that has ever been suggested before and we're expected to accept this as fact?
This is splendid news. SISU could end up paying rent to Hoffs consortium. If Hoffs men take ownership of the Ricoh, they could bump up the rent and force SISU to sell or enter admin. Either way it's a brilliant leverage tool.
Not so sure... Thought the club would have first refusal minimum and would the buy backclause carry onto the new owners?
Yep, the club have first refusal on the charity half until 2015.
If this is true, then my guess is that GH will have agreed an option to buy the stadium IF/WHEN he (the consortium) can complete a deal for the club.
So, Hoffman makes an offer. The Council/charity say the club have first refusal.......SISU do you want to buy the Ricoh it'll cost you £xxx........Sorry Mr Mayor we don't have that amount at the moment............Mr Hoffman, the club can't afford the ground it's yours.
Stuart linnell has spoken to council and they have said its not true he just said
The council own the freehold at present - absolutely correct
That land has a long lease in favour of ACL
ACL is owned by Higgs Charity and the Council
so just a couple of questions/observations
Buying the freehold from the council still leaves ACL's lease in place. That would mean to get hands on the venue income GH Consortium still needs to buy the shares of ACL
Any "deal" is not a deal until approved by at a full meeting of the council - anyone see it being discussed in any council minutes.
Any sale of Higgs Charity shares can be vetoed by the council BUT sale of the council shares can be vetoed by the charity
No evidence that the criteria required by BOTH the charity and council have been met - one of which is a viable and sustainable business plan at CCFC. Another one is a plan to develop the area further (ie will cost millions more)
buying the freehold would get the consortium the rent ACL pays on the long lease of the stadium only.
CCFC has a valid lease with ACL and that hasnt changed
Owning the freehold of the stadium does not mean they can force a sale by SISU of CCFC. Which is worrying on several fronts.... no new owners are guaranteed, GH Consortium could just be looking to own stadium freehold as an investment, football club still wouldnt own the stadium outside investors would......
It might have been done but somehow i doubt it ....I think there are some serious questions to answer...... so until there is an announcement from the council and or charity I am not giving it any weight
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