The 40m SISU takeover that could have saved Saints

Discussion in 'Coventry City General Chat' started by James Smith, Dec 4, 2013.

  1. James Smith

    James Smith Well-Known Member

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    After attempting to look up on Google what the lovely Onye was doing now, I came across the following piece in the Southampton Daily Echo about the SISU proposed take over and whilst I can't claim to have understood all of it I thought it was interesting.

    www.dailyecho.co.uk/sport/saints/un...m_SISU_takeover_that_could_have_saved_Saints/

    Sorry if it's been posted before.
     
  2. lordsummerisle

    lordsummerisle Well-Known Member

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    Majority laughed at Southampton for turning them down, and remarked how lucky we were to have them.
     
  3. Sky Blue Kid

    Sky Blue Kid Well-Known Member

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    @ summerilse.......I'm proud to say that I was always in the minority at that moment in time.
     
  4. lordsummerisle

    lordsummerisle Well-Known Member

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    There weren't many of us!
     
  5. bigfatronssba

    bigfatronssba Active Member

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    I'm happy to hold my hands up and admit I was wrong.
     
  6. skybluetony176

    skybluetony176 Well-Known Member

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    you're right. most of us, myself included were too naive to know what a hedge fund was.

    well we know now and found out the hard way
     
  7. Sky Blue Kid

    Sky Blue Kid Well-Known Member

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    It was a conversation with a very knowledgeable "Wolves fan" who explained the "In's and out's" of Hedge Funds to me a long time ago. I knew from then on (Well before SISU came to town) what to expect.
     
  8. Hobo

    Hobo Well-Known Member

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    I wasn't laughing, I hoped they would bring some financial sense and investment and have a viable business plan and move us forward.

    My hope was misplaced, once I researched them more my hope turned to horror!
     
  9. Moff

    Moff Well-Known Member

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    Skyblueweeman is the man in the know on this, having I believe worked at St Marys.

    I think the consensus from Southampton is clearly what a lucky escape they had.
     
  10. Como

    Como Active Member

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    If SISU had been able to get promotion and cash out, all would have been good.

    Perhaps we could have got an Owner like others have done who does not see it as a money making venture.
     
  11. Sky Blue Dal

    Sky Blue Dal Well-Known Member

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    Oh well!!

    "Fool me once, shame on you; fool me twice, shame on me."

    :blue:
     
  12. shmmeee

    shmmeee Well-Known Member

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    Once bitten twice shy I hope for the City support as a whole, let's hope the hatred of Sisu doesn't lead to another no questions asked takeover. I'll happily admit I was wrong and got caught up in optimism.
     
  13. Jack Griffin

    Jack Griffin Active Member

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    Too bloody right!
     
  14. Nonleagueherewecome

    Nonleagueherewecome Well-Known Member

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    It's getting crowded in our smug corner.


    Wish I hadn't predicted that the Aussies were going to win The Ashes, either...
     
  15. Nonleagueherewecome

    Nonleagueherewecome Well-Known Member

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    I was unlucky to have had the company I worked for raped by one just a few months before, so I was a bit biased-but at least educated to their nature. I'm amazed they've stuck around for more than two years, though-they're usually "cut, cut, slash, slash, sell up at a profit" in no time at all. So they're even shit at being a Hedge Fund!
     
  16. italiahorse

    italiahorse Well-Known Member

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    The plan was good, shame they were incompetent.
    Now they have messed up, everybody else is to blame and they are spiteful.
     
  17. Skyblueweeman

    Skyblueweeman Well-Known Member

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    Hi Moff...this all happened before I worked there (although I did post this either on here or the CET forum many moons ago). I started there about a month before they went into administration and left about 3 months after Markus Liebherr bought the club and installed Nicola Cortese as his man to run the club. I remember the day they went into administration...I heard on the radio on the way in that it was likely to happen and Rupert Lowe, the chairman at the time, parked behind me. I remember thinking to myself 'You're in for an interesting day Ruppy boy'.

    I agree that Saints fans will no doubt look at their current situation and our current situation and breathe a sigh of relief at their 'lucky' escape but by the same token, they were lucky that they had a billionaire ride into town wanting to spend lots of money on a play thing. There were suggestions amongst some that Liebherr saved the club and invested into Southampton with the intention on winning larger work related contracts on the South Coast...I have no idea whether there was any substance in this.

    At the time (and probably still now) Saints fans despise Lowe as much as CCFC fans despise Fisher. My own thoughts are that they would've initially been grateful for SISU taking the club out of Lowes hands. I'm sure I read something in the Echo that said it probably would've gone ahead but for the Saints directors wanting more money from the sale.

    A tale of two clubs of similar size, history and fan base size. One got lucky with new owners and are reaping the rewards, one didn't. That said, our club was a mess before SISU took over (not necessarily worse than now in some senses). I'm more than happy to admit that I was happy with our 'saviours' when they took over. Also happy to admit I was wrong.

    That said, our club couldn't continue on the finance model it was running on. I know I'm in a tiny majority who believe that the owners decisions have been made with the intention of putting the club on a sound footing. I may be totally naïve, but no club should've been paying £1.3m rent. The situation has become ridiculous though and they way SISU have gone about things is a total shambles.

    I wish for a day when a Liebherr type figure comes in to splash the cash but at the same time, the club needs to be run in a completely more effective and efficient way than pre-SISU.

    WM
     
  18. Jack Griffin

    Jack Griffin Active Member

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    I agree weeman, spending needs to be controlled whoever is in charge, if not vultures can step in & for sure that is what happened.
     
  19. skybluefred

    skybluefred New Member

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    I warned everybody on the telegraph forum. sisu = bad news.
     
  20. NorthernWisdom

    NorthernWisdom Well-Known Member

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    There was a worying lack of questioning about why a Texan property developer wanted a property development opportunity...
     

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