Possible Takeover (1 Viewer)

SBAndy · Sep 17, 2016

Firstly I should say I'm not convinced by what I'm about to share with you, but being as it's CCFC-related I thought I'd go ahead anyway, so please don't shoot me down!

Speaking to my mate last night, who was telling me about when he went to the casino last weekend and got chatting to the dealer on the blackjack table. The dealer said he'd been on the table of the Wasps chairman the night before (or something). Anyway, this dealer being a Cov fan was asking about the whole situation and whether it was true that Wasps would look to buy CCFC, to which he was told "no, not enough money to make something happen". However, he did say he knew of a potential owner waiting in the wings to take over.

As I said, I'm not sold on it, but it would be the final piece of the jigsaw explaining why SISU are being attacked from every angle.

Danceswithhorses · Sep 17, 2016

Despite SISU saying that they are not willing to sell, i'm sure they would love to dump this appalling investment, for the right price.
But really...who would be stupid enough to buy us with all our debts and no stadium...unless they got a great deal, and do you think SISU are the kind of company that would do that...no.

Harry Krishner · Sep 17, 2016

I'm sure there's plenty of Chinese/Middle Easter sovereign wealth funds looking for an economic basket case to help reduce their tax liability that would be happy to take over the reigns.

SISU will need to sus their escape options well though- as they probably already have done. They took a punt on promotion to the premier and wresting control of the stadium, all of which fell on its arse, and are now stuck with a club they don't really know what to do with. They'll be looking to cut or minimise their losses. Problem is that the club has fewer assets than a decent sized supermarket at the moment, and is hence unattractive.

Warwickhunt · Sep 17, 2016

Danceswithhorses said:
Despite SISU saying that they are not willing to sell, i'm sure they would love to dump this appalling investment, for the right price.
But really...who would be stupid enough to buy us with all our debts and no stadium...unless they got a great deal, and do you think SISU are the kind of company that would do that...no.

Channel 4 might buy us? After all they just paid £25 million for a tent after their star players left

Kingokings204 · Sep 17, 2016

Isn't this what chip fat was saying? It certainly makes sense to me.

Don't know who or why anyone would want to buy ccfc but if they were well in with ccc and the wasps owners actually they could get a good deal and make a go of it probably win low risk. Let's face it league 1 is a poor league to say the least.

I like the OP am not sold on it but it sounds plausible.

Malaka · Sep 17, 2016

Danceswithhorses said:
Despite SISU saying that they are not willing to sell, i'm sure they would love to dump this appalling investment, for the right price.
But really...who would be stupid enough to buy us with all our debts and no stadium...unless they got a great deal, and do you think SISU are the kind of company that would do that...no.

If the WASPS owner knew of someone, then maybe he has some sort of business relationship with him and would happily off load half shares in the stadium and academy.
It would make perfect sense, halving the costs of up keep.
Thing is, if it is true, I would be pissed off if the WASPS owner was discussing a takeover with a blackjack dealer, fingers crossed tho I hope that there is some truth in it

dongonzalos · Sep 17, 2016

It's the only thing that would make sense to me.
The only way I could see someone buying us would be administration and picking the club up for something silly like a penny for every pound.
However it would frighten me what would be left if SISU new administration was the chosen route.
I think there would be a definite relegation first

Warwickhunt · Sep 17, 2016

SBAndy said:
Firstly I should say I'm not convinced by what I'm about to share with you, but being as it's CCFC-related I thought I'd go ahead anyway, so please don't shoot me down!

Speaking to my mate last night, who was telling me about when he went to the casino last weekend and got chatting to the dealer on the blackjack table. The dealer said he'd been on the table of the Wasps chairman the night before (or something). Anyway, this dealer being a Cov fan was asking about the whole situation and whether it was true that Wasps would look to buy CCFC, to which he was told "no, not enough money to make something happen". However, he did say he knew of a potential owner waiting in the wings to take over.

As I said, I'm not sold on it, but it would be the final piece of the jigsaw explaining why SISU are being attacked from every angle.

I would think there are many suitors waiting in the wings to take us over but I don't think any of them want to pay anything though!

stupot07 · Sep 17, 2016

Some sweeping statements on here.

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letsallsingtogether · Sep 17, 2016

Sticking point is that Sisu value the club too high.
The last time joy was asked I believe she valued it at around 100 million.

letsallsingtogether · Sep 17, 2016

stupot07 said:
Some sweeping statements on here.

Sent from my SM-G930F using Tapatalk

Yes you are good at that.

Pipehitterz · Sep 17, 2016

Warwickhunt said:
I would think there are many suitors waiting in the wings to take us over but I don't think any of them want to pay anything though!

This is probably been the case for quite a while.
Someone really needs a hell a lot of monies to sort out everyone's share in this Fucked up Club.
Someone would have to buy the lot, even wasps, just to have a team with a revenue stream and stadium, or else who would bother?

stupot07 · Sep 17, 2016

letsallsingtogether said:
Yes you are good at that.

Ditto.

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Bruce the Boot · Sep 17, 2016

Heard this rumour too and a little more , I ll let you into a secret , its Grendel , it will happen when he figures out how to empty his piggy bank

stupot07 · Sep 17, 2016

Re: OP. I do get a sense of something happening, with everyone suddenly trying to squeeze and pressure the club from all directions, ie the Ricoh deal, the Butts, the academy, and I think its been suggested on here that maybe there is something in the offing.

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Steve.B50 · Sep 17, 2016

We need to show any potential buyers that the fan base is still here and that any sort of genuine investment in the team and Manager would be supported.
I am very confident of things happening in the background but if anyone who is looking at our club would probably either go to go to a few games or send a representative to do some market research. The problem is at present what would they see?

SkyBlue_Bear83 · Sep 17, 2016

I think it's likely that the council and wasps have an ally ready to take over should Sisu sell. Very likely to be someone who will roll over and conform to the new order in the city and take whatever shit wasps and council decide to throw at the club.

DazzleTommyDazzle · Sep 17, 2016

letsallsingtogether said:
Sticking point is that Sisu value the club too high.
The last time joy was asked I believe she valued it at around 100 million.

Did she say which currency she had in mind?

Terry Gibson's perm · Sep 17, 2016

letsallsingtogether said:
Sticking point is that Sisu value the club too high.
The last time joy was asked I believe she valued it at around 100 million.

It's so funny you can buy a Prem club for not much more than that, the club is worth nothing

Liquid Gold · Sep 17, 2016

I'd love it to be true, getting rid of SISU would be amazing but I just can't see it. We own nothing, we're destined to own less and we need some sort of stadium ownership model, buying a 50% share from wasps might sound appealing but I for one am done with getting into bed with hedge funds. Unless this owner has got some serious cash then what's the point. Also there are dozens of clubs more attractive who are just waiting to be taken over.

Grendel · Sep 17, 2016

SkyBlue_Bear83 said:
I think it's likely that the council and wasps have an ally ready to take over should Sisu sell. Very likely to be someone who will roll over and conform to the new order in the city and take whatever shit wasps and council decide to throw at the club.

Sounds about right. Yankee Doodle two and a kenilworth pub near you.

skybluetony176 · Sep 17, 2016

letsallsingtogether said:
Sticking point is that Sisu value the club too high.
The last time joy was asked I believe she valued it at around 100 million.

Statements like that are so ridiculous it's part of the reason no one wants to deal with them. How can anyone take them serious when they're happy to say things like that.

trevelfarandwide · Sep 17, 2016

DazzleTommyDazzle said:
Did she say which currency she had in mind?

Fucking shirt buttons, I hope.

I do love a dip in the rumour pond, it gives one such false hope.

AFCCOVENTRY · Sep 17, 2016

I have been thinking lately why there is a deafening silence from fisher, Anderson etc...

Is there something happening in the background?

chiefdave · Sep 17, 2016

If Wasps know of a potential owner it is likely they know via CCC so the danger is its another PH4 situation.

letsallsingtogether said:
Sticking point is that Sisu value the club too high.
The last time joy was asked I believe she valued it at around 100 million.

If anyone offered them in the region of £15m they'd be gone, no doubt in my mind about that.

shy_tall_knight · Sep 17, 2016

Do SISU believe their current strategy, of court cases etc.. will ultimately be successful. The judgements to date would indicate it has failed.

It is also clear that the relations with key partners moving forward such as WASPs & CCC are frosty and unlikely to improve sufficiently to allow the club to develop a beneficial stadium arrangement.

The current break-even funding for the team is unlikely to lead to promotion and more likely to lead to relegation. We will never be in the top 6 funded clubs in this division and although Yeovil and Burton have been promoted, the Wigans, Bolton and next season Blackburn will always be favourites due to their higher budgets.

SISU may carry on but surely even they can see that its going downhill and would consider selling. There are buyers but none who would pay anything close to £100m for a club with no assets.

Bruce the Boot · Sep 17, 2016

shy_tall_knight said:
There are buyers but none who would pay anything close to £100m for a club with no assets.

I suppose the true value of the club is the Golden share

ccfcway · Sep 17, 2016

Warwickhunt said:
Channel 4 might buy us? After all they just paid £25 million for a tent after their star players left

I wonder if the tent is the site that Timmy has identified outside of Coventry

Broken Hearted Sky Blue · Sep 17, 2016

DazzleTommyDazzle said:
Did she say which currency she had in mind?

I think she mentioned the Zimbabwean Dollar

jas365 · Sep 17, 2016

Bruce the Boot said:
I suppose the true value of the club is the Golden share

I hope they've left it somewhere safe, they lost it once before and even the administrator couldn't find it when he started looking for it.

the rumpo kid · Sep 17, 2016

Danceswithhorses said:
Despite SISU saying that they are not willing to sell, i'm sure they would love to dump this appalling investment, for the right price.
But really...who would be stupid enough to buy us with all our debts and no stadium...unless they got a great deal, and do you think SISU are the kind of company that would do that...no.

I might be being stupid here but who do we owe debts to ? I thought that selling every asset avalible running the club on fresh air and going into administration got rid of this , who do we owe ?

skybluetony176 · Sep 17, 2016

chiefdave said:
If Wasps know of a potential owner it is likely they know via CCC so the danger is its another PH4 situation.

If anyone offered them in the region of £15m they'd be gone, no doubt in my mind about that.

I assume you mean £15M with the debt wiped clean?

robbiekeane · Sep 17, 2016

the rumpo kid said:
I might be being stupid here but who do we owe debts to ? I thought that selling every asset avalible running the club on fresh air and going into administration got rid of this , who do we owe ?

Most of it, if in understand right, is in the form of "loans" from SISU/ARVO when they have been subsidising losses and when they threw a bit of money at us in the first few years. And probably some left from when they bought us

skybluetony176 · Sep 17, 2016

shy_tall_knight said:
Do SISU believe their current strategy, of court cases etc.. will ultimately be successful. The judgements to date would indicate it has failed.

It is also clear that the relations with key partners moving forward such as WASPs & CCC are frosty and unlikely to improve sufficiently to allow the club to develop a beneficial stadium arrangement.

The current break-even funding for the team is unlikely to lead to promotion and more likely to lead to relegation. We will never be in the top 6 funded clubs in this division and although Yeovil and Burton have been promoted, the Wigans, Bolton and next season Blackburn will always be favourites due to their higher budgets.

SISU may carry on but surely even they can see that its going downhill and would consider selling. There are buyers but none who would pay anything close to £100m for a club with no assets.

I suppose that the only tea assets we have are the players valuations, Ryton and an unknown amount for the golden share and good will. That is going to be far outweighed by the historical debt. Unless the historical debt is written of it's a £1 all day long.

shmmeee · Sep 17, 2016

dongonzalos said:
It's the only thing that would make sense to me.
The only way I could see someone buying us would be administration and picking the club up for something silly like a penny for every pound.
However it would frighten me what would be left if SISU new administration was the chosen route.
I think there would be a definite relegation first

What's left anyway?

I don't think a white knight is waiting, heard it too much over the years. But if there was. Worst case scenario is we lose Ryton (isn't it still mortgaged or was that paid off?). We basically sign a new team every season anyway, have no long term commitments on our ground or academy. A new owner could either start talks with Wasps/Higgs/Council or actually carry out Sisu's supposed plan and build an integrated facility. Basically what Sisu could do now if they could be arsed.

The only real issue is the debt and that's entirely up to Sisu to come up with a figure. I suspect they won't give up until every legal avenue has been exhausted, I suspect it's personal now and not about business because I can see no scenario short of the two I've mentioned to move the club forward. And Sisu clearly don't have the stomach for either negotiation or investment.

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