PH4 to buy Ricoh (1 Viewer)

Believe it when I see it

Well someone broke the lease and all contracts in CCFC Ltd....

Go for it PH4,

According to Telegraph he is going to buy the Higgs share.

He aint buying anything pal. busted flush.

cashless said:

He aint buying anything pal. busted flush.

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You know him then?

Breaking news....

PH4 is buying 50%, SISU are buying 50% and Dhinsa is buying the other 50%

Makes me wonder if this guy just wants to but the stadium and not the club? He is a property developer after all.

Long term we will see a team there. He had to start somewhere. The FL may back him.

Anything that stops SISU getting their hands on the Ricoh is fine by me. This is personal now, they've made the club alien to me, and now I want them to fail miserably; and if any financial / accounting wrong doings can be proven a bit of jail time for the C-words would be just lovely.

Sounds like he is maintaining an interest, but currently waiting to see what happens over the next few weeks.. I posted about that here...
http://www.skybluestalk.co.uk/threads/32206-Stadium-what-next?p=465403&viewfull=1#post465403

Can't see any of this being true after he released a statement saying all the best in the future

Believe me or not. I'm not going to say whom or where, but I actually spoke to a very good friend of Joe Elliot on Saturday who showed me a text from the man himself, saying that Preston is not quite ready to go away and watch this space!!

Can't see it happening sisu here for the long run

jon92 said:

Can't see it happening sisu here for the long run

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Yeah - the long run back to the Cayman Islands with as much dosh as they can extract from our Club!

skybluesteve76 said:

Believe me or not. I'm not going to say whom or where, but I actually spoke to a very good friend of Joe Elliot on Saturday who showed me a text from the man himself, saying that Preston is not quite ready to go away and watch this space!!

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'Dnt cnt me out jst yet Joey lol'

Preston Haksell IV
By Andy Turner | 17 Jun 2013 07:49
Preston Haskell IV is pressing ahead with his plans to buy half the Ricoh Arena – despite failing to win the bid for Coventry City FC Ltd and the crucial golden share.

The American property tycoon is understood to remain determined to invest in the stadium and refuses to give up his attempt to secure ownership of the Sky Blues.

More details have emerged about the bids and it is understood that Haskell’s offer would have given significant cash to Sisu up front and over time, related to successful promotions.

But administrator Paul Appleton selected Sisu-backed Otium Entertainment Group Ltd and will this week seek approval from the Football League.

Many believe Sisu were always capable of out-bidding the three rival buyers by writing off debt rather than providing cash.

Haskell appeared to be walking away from the possibility of a takeover following Friday’s dramatic decision but has renewed his interest following meetings over the weekend.

A source close to the American said: “He is very disappointed with the administrator’s decision on Friday but he believes there is great potential in the stadium that has not yet been realised.

“He is therefore still very interested in buying half of ACL and is going to continue discussions to try to reach agreement on half of the stadium, not withstanding the mess at the football club.

“Preston and his consortium do not understand what Sisu are trying to achieve with their bid. They don’t understand the business model, which they believe is unsustainable.

"The fans are up in arms and Preston and his people firmly believe that Coventry City should play in Coventry, at the Ricoh Arena, and they don’t see how making this move will benefit Sisu’s investors in the short, medium or long term.

“As a consequence, they are going to continue to have discussions on the stadium and wait to see what happens at the football club.”

It is understood that Haskell hopes Sisu will eventually be forced to give up and sell to him.

The source said that the Haskell camp, which includes former club vice-chairman Gary Hoffman and suspended life president Joe Elliott, hope the Football League does not agree to the administrator’s proposal, but recognise that all the precedence is against them.



He added: “Preston’s consortium doesn’t think Sisu should pass the fit and proper test because of what they have done to Coventry City, but it’s very difficult not to pass it.”

The Telegraph understands that Haskell’s group is extremely sceptical about the club’s ability to secure a groundshare agreement with another club and that City will end up back at the Ricoh for the new season.

Even if the club did find an alternative venue, it is clear that Haskell also doubts Sisu’s ability to continue with very little income over a three-year interim period, and does not believe they would be able to attract investment to fund a new stadium of their own.

If Haskell is successful in buying the Higgs Charity’s 50 per cent share in the stadium and the club were back at the Ricoh, there would be a situation where they would be part-landlords to Sisu.

In a statement issued on Friday night, just hours after Mr Appleton’s announcement, Haskell appeared to accept defeat, saying: “Over the past few months while working hard to acquire CCFC, I have developed a strong affinity with the fan base of the club.

“Of course I am disappointed by this afternoon’s decision but I am incredibly proud to have had the experience and unforeseen encouragement of a lot of dedicated supporters. I’m so appreciative of that.

“I personally met with Mr Paul Appleton and think he and his colleagues, bound by the laws and rules of an official legal process have been very professional throughout this difficult undertaking. His job wasn’t easy but it was done according to the law, and appropriately managed.

“I would also like to publicly thank the ‘good and great of Coventry’ Mr Joe Elliott and the steadfast Mr Gary Hoffman for their unwavering support and hard work. These two gentlemen truly bleed Sky Blue.

“Finally, I sincerely hope for the best at CCFC.”

But having had time to reassess the situation, the American appears determined to carry on.

The source said: “The club’s current position is unsustainable and therefore Preston wants to press ahead on the stadium side and do the right thing for the fans.”

ccfctommy said:

Makes me wonder if this guy just wants to but the stadium and not the club? He is a property developer after all.

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Kerr-ching, kerr-chinnggg...

It ain't over til it's over.

Could explain why ACL did not go ahead with bid for Limited.

Brighton Sky Blue said:

'Dnt cnt me out jst yet Joey lol'

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Don't be a prick.
It was a text from Joe Elliot not Preston.

After five minutes I remember why I haven't been on this forum for three months!!

I wonder if this move will pay off.

Certainly brave. Also wonder that if PH4 did buy the Ricoh and Sisu still took the club elsewhere, whether he would allow another team to play here at the Ricoh in the interim.

This could be good for all parties concerned. Sisu have already dismissed playing at the Ricoh anyway, so this hardly hurts them. If PH4 really does want the club then this is indeed one way of trying to get it ..... bit by bit.

Might also put some serious money behind any future "appeals" that ACL might be planning.... ??

Long runs the fox..

When bluffing be prepared to have the bluff called....:guitar2:

If it happens - and quick - it could be the move needed to secure the club at least 3 more seasons at the Ricoh. It will see the Higgs people leave and the a new management at ACL.
But then I think there's a risk Joe Elliott or Gary Hoffman gets on ACL board and that would most likely kill off any chance of an amicable relationship beween the club and ACL.

There is no other team though, Otis. Who is going to play there?

Otis said:

I wonder if this move will pay off.

Certainly brave. Also wonder that if PH4 did buy the Ricoh and Sisu still took the club elsewhere, whether he would allow another team to play here at the Ricoh in the interim.

This could be good for all parties concerned. Sisu have already dismissed playing at the Ricoh anyway, so this hardly hurts them. If PH4 really does want the club then this is indeed one way of trying to get it ..... bit by bit.

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torchomatic said:

There is no other team though, Otis. Who is going to play there?

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CCFC.........Sisu cannot juggle their money much longer...:claping hands::claping hands::claping hands:

BrisbaneBronco said:

Could explain why ACL did not go ahead with bid for Limited.

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Am pleased someone else has the same thought.

The fact is the Higgs Charity have been wanting to off load their shares for a long time, if he can convince them and the council of long term plans then i cannot see a problem.
PH hasn't done anything wrong, he made his bid as he said he would ,but he was up against a company who in real terms were playing with monopoly money.
Nothing regarding this club is going to be straight forward , the whole set up means that certain parts need to be acquired to put whoever or whatever into a bargaining position.
Back to you then PH4 !!!

well he has my backing.

He should buy it, and do a deal with Walsall or who ever to have a camera beem the game live to the Ricoh

torchomatic said:

There is no other team though, Otis. Who is going to play there?

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Well wasn't particularly thinking football, Torch. Any sport.

So haskell and pals are easily able to strike a relationship and do a deal with those nasties from acl. Otium take note!!