Richard Keys on Talksport is at it again!!! (1 Viewer)

SkyBluegilby · Nov 28, 2011

Richard Keys on bid for the club
According to Coventry City supporter Richard Keys, there is a creditable offer on the table to buy Coventry City FC and a half share in the Ricoh Arena.
Speaking on his Talk Sport show with Andy Gray, Keys is reported as saying: "There is an offer on the table to buy the club and half the stadium, a creditable one."
Keys did not name any names as to who was involved with making this bid.

http://www.coventrycity-mad.co.uk/n...ffer_to_buy_the_club__keys_715432/index.shtml

Anyone see another Hoffman saga happening?

skybluesam66 · Nov 28, 2011

the reason these things dont happen quickly, as the negotiations may end up to say 5m either way, depending on who shows their hand first

I think the £3m "offer" for juke - was sisu's go at raising the stakes
at the same time hoff and/or whoever ,are playing the waiting game

Its a game of poker, and who will blink first

SkyBluegilby · Nov 28, 2011

Agree im not saying it should happen overnight, I do think its a bit irresponsible of Keys to start stirring the pot so to speak given everything that has happened over the past few months and situation we find ourselves in currently!

Otis · Nov 28, 2011

Sorry, but seems like the same old bid. Just think the news keeps getting regurgitated.

CJparker · Nov 28, 2011

skybluesam66 said:
I think the £3m "offer" for juke - was sisu's go at raising the stakes

Not so sure Sam -I was in Southampton on Friday and their local media were talking about Adkins really wanting Juke to give him another option going forward.

ashbyjan · Nov 28, 2011

I think your right Otis in as much as there isn't an actual pounds and pence bid on the table but there is the offer from Hoff and his backers to do some sort of deal whenever SISU finally admit to the balls up they are making of the whole club and want to cut their losses. So Keyes is just saying when they smell the coffee and decide to sell there is someone who would be interested - not new news but confirms that they are still around and still interested, which is potentially good news.

ICHAN · Nov 28, 2011

Here we go again, why can't this all be done in private without the media circus? If it is happening why does it have to be aired by keys or anyone else, this was the problem last time with leaked information by one side or the other.
Just let it happen if it is going to happen, keys could be talking shit and just stirring things up when the club is in a big enough mess at the moment on and off the field.

Sub · Nov 28, 2011

hopefully its to keep the pressure up on SISU and hopefully get them the fook out of coventry for good!!

ICHAN · Nov 28, 2011

Think it will take more than keys sub to make them go, also thing the anti sisu is growing as well having changed my views recently from going from well lets see what happens and trying to give them the benefit of the doubt etc to they are actually a bunch of shit bags.

oldskyblue58 · Nov 28, 2011

there is no offer to buy half the stadium as he puts it. Never has been............ only an intention to take up the option.

he knows nothing :facepalm: its just more of the same old rubbish he keeps spouting

Sub · Nov 28, 2011

every complaint and bad bit of publicity increase the pressure on SISU it may only be a little bit but it all helps dragging there name through the mud like they are doing to our club

Covstu · Nov 28, 2011

but they do not care sub, they must get alot of bad publicity when deals go wrong as people lose money simple as, putting into a football club is a gamble but one that is not working out at present. There must be a breaking point like all businesses where they cut their losses, they themselves are holding out for some money back even to holt some of that acculating loss.

ICHAN · Nov 28, 2011

Sisu must have some breaking point because there stubborn i'll give them that, must have been trained by the foreign legion or something to never give in or surrender.

We'll_live_and_die · Nov 28, 2011

oldskyblue58 said:
there is no offer to buy half the stadium as he puts it. Never has been............ only an intention to take up the option.

he knows nothing :facepalm: its just more of the same old rubbish he keeps spouting

I hate to question you as I really respect everything that your hallowed digits type, but how do you know there is no offer to buy half the stadium? How do you know that the potential buyers have not had talks with the Council?

sky_blue_up_north · Nov 28, 2011

oldskyblue58 said:
there is no offer to buy half the stadium as he puts it. Never has been............ only an intention to take up the option.

he knows nothing :facepalm: its just more of the same old rubbish he keeps spouting

Agreed, same old....

ashbyjan · Nov 28, 2011

Its semantics really as to take up the option would cost money therefore they would be buying that option for 50% of ACL and not 50% of the stadium anyway. Its this constant buying the stadium - no one is buying the stadium, not unless they want to give the council around £100m - buying the stadium or 50% of the stadium has become shorthand for taking up the Higgs Charity option for the fixed formual amount before it expires.

skyblueben83 · Nov 28, 2011

It seems there is merit to this story. The way I understand it is we will either go into administration this season or SISU will accept offer on the table. Either way they won't be with us long but fear they will sell as much as possible in January before admin or offer are considered and we will likely find ourselves relegated to league 1.

The reason it hasn't been reported is the details aren't clear but understand it has been followed by some time by media trying to gather more information

oldskyblue58 · Nov 28, 2011

La_Lucha said:
I hate to question you as I really respect everything that your hallowed digits type, but how do you know there is no offer to buy half the stadium? How do you know that the potential buyers have not had talks with the Council?

They may have had a discussion but there wont have been an offer. They need to get their hands on CCFC to get hold of the option without that any discussions are pointless so no offer could be made that would be taken seriously. If they get hold of CCFC then no need to make an offer as they have an option at a set price. Getting hold of half the shares in ACL is entirely seperate to buying SISU funds out.

skybluejelly · Nov 28, 2011

well surely if you were sisu you would sell anyone you could in january,for what ever price then sell......not saying it is right but if i was £30 million down and could recoup at least £4 million i would,why would they not do this, they will not sell until there are no assets left hence the mortgaging of the season tickets and the training ground, it is clear clingan and cranie will run there contracts down so no money there that just leaves juke and keogh and maybe wood as saleable assets ,apart from the youngsters...

ashbyjan · Nov 28, 2011

Knowing SISU they will try and sell Gardner hoping no one does an HPI check on ownership

We'll_live_and_die · Nov 28, 2011

oldskyblue58 said:
They may have had a discussion but there wont have been an offer. They need to get their hands on CCFC to get hold of the option without that any discussions are pointless so no offer could be made that would be taken seriously. If they get hold of CCFC then no need to make an offer as they have an option at a set price. Getting hold of half the shares in ACL is entirely seperate to buying SISU funds out.

Would it not be sensible to discuss an option to buy half of the stadium (not ACL Shares) on the basis that you become owners of CCFC? Let's be honest the profitability of owning CCFC would come from owning the Ricoh.

ashbyjan · Nov 28, 2011

La Lucha - if you are going to discuss buying the freehold of the stadium from the council you might as well be looking to buy the whole shooting match and that would be in the region of £100m as the council would be legally obliged to sell at a fair market rate. The cost of buying up of the HT 50% of ACL is fixed according to a formula based on several criteria but as I was lead to believe it is still a good value for money, whilst again the other 50% of ACL belongs to the council and again must be sold at a proper market value. Cannot realistically see anyone buying the stadium for £100m in this economic climate.

We'll_live_and_die · Nov 28, 2011

ashbyjan said:
La Lucha - if you are going to discuss buying the freehold of the stadium from the council you might as well be looking to buy the whole shooting match and that would be in the region of £100m as the council would be legally obliged to sell at a fair market rate. The cost of buying up of the HT 50% of ACL is fixed according to a formula based on several criteria but as I was lead to believe it is still a good value for money, whilst again the other 50% of ACL belongs to the council and again must be sold at a proper market value. Cannot realistically see anyone buying the stadium for £100m in this economic climate.

No but say someone is sat with £100 mill burning a hole in their pocket. They pay off SISU £30mill, they buy half the stadium £50mill and they invest £20mill in the team. Boom £100mill gone. Now if you can get out of paying SISU £30 mill you get a business that is verging on profitable for £70mill. Draw in big crowds with a little success (coming up from league 1), market the venue more as a centre for top music acts in the vein of coldplay, Oasis, Take That and get in soon enough to get some money from the olympics and you start making money.

Chipfat · Nov 28, 2011

Thought it was 12 million to buy the trust share before 2015, aslong as the buyer also own CCFC...

We'll_live_and_die · Nov 28, 2011

Chipfat said:
Thought it was 12 million to buy the trust share before 2015, aslong as the buyer also own CCFC...

I'm talking about buying half the stadium and not the trust share.

Godiva · Nov 28, 2011

Sub said:
every complaint and bad bit of publicity increase the pressure on SISU it may only be a little bit but it all helps dragging there name through the mud like they are doing to our club

On the other hand - the bad publicity makes it more difficult to attract investors/new owners, keep fans away from matches, makes it more difficult for the manager to attract players ...

ICHAN said:
Sisu must have some breaking point because there stubborn i'll give them that, must have been trained by the foreign legion or something to never give in or surrender.

Their breaking point is probably where there's no more costs to cut and no more money to pay the bills due to no new investors coming in, revenue from matches decline further and the manager is unable to attract new players to freshen things up.

skybluejelly said:
well surely if you were sisu you would sell anyone you could in january,for what ever price then sell......not saying it is right but if i was £30 million down and could recoup at least £4 million i would,why would they not do this, they will not sell until there are no assets left hence the mortgaging of the season tickets and the training ground, it is clear clingan and cranie will run there contracts down so no money there that just leaves juke and keogh and maybe wood as saleable assets ,apart from the youngsters...

As sisu themselves does not have any money invested and as the funds have provided loans free of interests and installments and therefor hard to default unless the club goes bankrupt, then I fail to see why sisu would take 'any money' they can get.
It's a myth that they are willing to walk away defeated. They go when they get an offer that will see the loans either repaid in full or at least guarantees they will be serviced in the future (interest and installment plan).
It's also a myth that they are stripping the club of assets in terms of taking money out. They don't have more money to put in and have to pay the bills by selling players with a profit, but that is hardly asset-stripping.

Tankie · Nov 28, 2011

ICHAN said:
Here we go again, why can't this all be done in private without the media circus? If it is happening why does it have to be aired by keys or anyone else, this was the problem last time with leaked information by one side or the other.
Just let it happen if it is going to happen, keys could be talking shit and just stirring things up when the club is in a big enough mess at the moment on and off the field.
/QUOTE]

IChAN.
Chill Buddy.
A little speculation and conjecture, doesn't hurt anyone, in fact it lifts the gloom, from a gloomy, one sided Situation.
YOu have the choice to digest it, or chew it and spit it out.
It just bounces of me, causes no pain, and sometimes makes me smile.
Respect, Tankie

ashbyjan · Nov 28, 2011

You can make the money from events etc at the stadium without owning it - thats what ACL is about. They have a lease with 45 or so years to run on the ground and any income from concerts, football, exhibition, etc goes into ACL coffers. Please correct me if I'm wrong on this OSB but I believe they do not pay anything annually to the council for the lease but service the £20m debt that they took up to buy the lease. Therefore there is little point in actually buying the stadium freehold. The only reason ACL isn't paying dividends to its owners is that debt has to be paid off and anything left over is being ploughed back into upgrading facilities etc. The stumbling block isn't the stadium or anything to do with it, the stumbling block is that SISU / their investors are not actually having to dip their hands in their pockets to keep the club going as Ken and the board simply sell off another asset to cover upcoming monthly losses or tax bills etc. As long as they themselves do not have to stump up any money and the club is "self financing" they are happy to sit on it until someone buys it off them on their terms. The scary thing is that they are happy to carry on this policy if we sink to Div 1 or Div 2. People should forget about admin being a route to get rid of SISU, admin will simply be used as a vehicle to divest themselves of some of the debt not owed to the investors and thereby lower the monthly running costs even further.

Sub · Nov 28, 2011

Originally Posted by Sub

every complaint and bad bit of publicity increase the pressure on SISU it may only be a little bit but it all helps dragging there name through the mud like they are doing to our club

On the other hand - the bad publicity makes it more difficult to attract investors/new owners, keep fans away from matches, makes it more difficult for the manager to attract players ...

also another way of looking at it -- lack of investment from our owners and poor results = disgruntled fans lower gates no players want to come here, fans protest to get owners out , no investors and no one want to buy the club also !!

ICHAN · Nov 28, 2011

Chill Buddy.
A little speculation and conjecture, doesn't hurt anyone, in fact it lifts the gloom, from a gloomy, one sided Situation.
YOu have the choice to digest it, or chew it and spit it out.
It just bounces of me, causes no pain, and sometimes makes me smile.
Respect, Tankie[/QUOTE]

Thanks for the concern Tankie my old bedworth buddy.
Total Respect to you as well.

skybluejelly · Nov 28, 2011

Godiva said:
On the other hand - the bad publicity makes it more difficult to attract investors/new owners, keep fans away from matches, makes it more difficult for the manager to attract players ...

Their breaking point is probably where there's no more costs to cut and no more money to pay the bills due to no new investors coming in, revenue from matches decline further and the manager is unable to attract new players to freshen things up.

As sisu themselves does not have any money invested and as the funds have provided loans free of interests and installments and therefor hard to default unless the club goes bankrupt, then I fail to see why sisu would take 'any money' they can get.
It's a myth that they are willing to walk away defeated. They go when they get an offer that will see the loans either repaid in full or at least guarantees they will be serviced in the future (interest and installment plan).
It's also a myth that they are stripping the club of assets in terms of taking money out. They don't have more money to put in and have to pay the bills by selling players with a profit, but that is hardly asset-stripping.

well if they do not have any money to put in ,have mortgaged anything of value,will be selling players in january(not 100% certain ) but 99%, what happens next year, with money from season tickets already spent,where is the income,,they are running the club into the ground,yes they have reduced wages but they have also reduced the quality of players we have..absolute economic geniuses,i am glad they are not running my pension fund

oldskyblue58 · Nov 28, 2011

Just a clarification if i may, could someone please point me to the annoucement that next years season tickets sales have actually been mortgaged. Not saying they have or havent but as yet I havent seen more than speculation put forward as fact. I assume i missed it. I know they got up front money on this years sales - well the ones that were not paid in cash or by credit card that is because you would daft to mortgage money you already have wouldnt you ?...... but thats basically factoring a debt and not unusual business practice.

Cheers

Godiva · Nov 28, 2011

skybluejelly said:
well if they do not have any money to put in ,have mortgaged anything of value,will be selling players in january(not 100% certain ) but 99%, what happens next year, with money from season tickets already spent,where is the income,,they are running the club into the ground,yes they have reduced wages but they have also reduced the quality of players we have..absolute economic geniuses,i am glad they are not running my pension fund

It's an ongoing excercise. It goes back many, many years and will continue no matter the owner until the club runs continuesly at a profit. Loan agianst season tickets is not a new trick in the book and is used by many clubs - in the pre-season it will happen again. Same with player trading, we have done it throughout the clubs entire existence. It's not a sinister scheme - it's the way to keep the ship afloat.

I don't know if the quality of the squad is actually much worse as there are many other factors involved in respect to out abysmal point tally. The manager is new to the game. The style of play is new to the players. Last year the form dropped when the owners and the current board went into war with each other and that was reflected in team - with only one league win from December till the new manager and the board was installed in April - that's 18 league matches with one win! Since this season started we have 2 wins in 18, and in all that time the war have been on between the fans and the owners. Any organisation in turmoil will suffer on their end product! So again, I am not sure the quality of players are degraded as you say.

You are happy that your pension fund is not run by sisu, but are you certain that a part of your pension money is not placed in a hedge fund?

cloughie · Nov 28, 2011

Godiva said:
On the other hand - the bad publicity makes it more difficult to attract investors/new owners, keep fans away from matches, makes it more difficult for the manager to attract players ...

bad publicity will not put off potential new owners, they may see it as leverage to lower the purchase price. As for investors i doubt that sisu have the credibility to attract more invetment in their botched attempt to run a football club

Their breaking point is probably where there's no more costs to cut and no more money to pay the bills due to no new investors coming in, revenue from matches decline further and the manager is unable to attract new players to freshen things up.

We are already at this point unable to attract new experienced players of any quality etc

As sisu themselves does not have any money invested and as the funds have provided loans free of interests and installments and therefor hard to default unless the club goes bankrupt, then I fail to see why sisu would take 'any money' they can get.
It's a myth that they are willing to walk away defeated. They go when they get an offer that will see the loans either repaid in full or at least guarantees they will be serviced in the future (interest and installment plan).
It's also a myth that they are stripping the club of assets in terms of taking money out. They don't have more money to put in and have to pay the bills by selling players with a profit, but that is hardly asset-stripping.

agreed on the latter points but asset-stripping to make money out of it true, but asset stripping it potentaly is. If a business sells its assets to survive eventually it will have no assets and no business

So how much can they recoup by selling players, not a vast amount. Eventually they end up with a team so far down the leagues that has very little value. it becomes not worth there time managing the club/business, as football is not their business

Jack Griffin · Nov 28, 2011

oldskyblue58 said:
Just a clarification if i may, could someone please point me to the annoucement that next years season tickets sales have actually been mortgaged. Not saying they have or havent but as yet I havent seen more than speculation put forward as fact. I assume i missed it. I know they got up front money on this years sales - well the ones that were not paid in cash or by credit card that is because you would daft to mortgage money you already have wouldnt you ?...... but thats basically factoring a debt and not unusual business practice.

Cheers

I suppose it is sales from this year.

http://www.coventrytelegraph.net/co...e-payments-and-season-tickets-92746-29031366/

Basically everytime they are about to run out of money they sell something or take out a loan on an asset or future income. Wonder how long the Ben Turner money willl last, till January perhaps?

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