The Higgs Share - PWKH might help... (1 Viewer)

kingharvest · Aug 6, 2013

apologies if this has been answered, but just for clarification - what is the rule on this?

How long was the original deal which allowed the club to effectively have 'first refusal' on the share?
When (IF) does this run out?
If it does run out, can someone else buy the share?

You can see where this is going, i just want to know if its feasible for someone who doesn't own the football club to get their hands on the Higgs share. Perhaps even the fans, although i appreciate that might be difficult given the requirement for further development of the site.

Steve.B50 · Aug 6, 2013

As I understand it, the Higgs half can now be sold to anyone as long as the CCC side agree to it.

Broken Hearted Sky Blue · Aug 6, 2013

Weve moved on remember not interested in the Ricoh building our own stadium lease has been broken I think that anybody could buy it now. It was available to the club till 2015 I think

Snozz_is_god · Aug 6, 2013

If SISU liqudate CCFCltd, thus getting rid of the lease, then buy back option goes with it.

Although most of the national press ran with us being liquidated on Friday, I've yet to see confirmation that that has actually happened.

deanocity3 · Aug 6, 2013

Snozz_is_god said:
If SISU liqudate CCFCltd, thus getting rid of the lease, then buy back option goes with it.

Although most of the national press ran with us being liquidated on Friday, I've yet to see confirmation that that has actually happened.

correct to all of that

kingharvest · Aug 6, 2013

So would there be any value in someone else just purchasing the Higgs half now giving them potential leverage to wrestle control of the club? It may also give us a foundation/fall back position should the worst happen and CCFC the club, cease to exist? And i would have thought it would weaken SISUs position even further in terms of bringing CCFC back to Coventry.

They'd actually HAVE to build a new stadium then - nice little acid test perhaps?

italiahorse · Aug 6, 2013

SISU should buy the Higgs 50% for what it is worth and give CCFC a stadium they can belong to.
Are SISU prepared to pay that ?
I don't think anybody should have it 100% until they have proved themselves.

leicesterskyblue · Aug 6, 2013

seriously shaking my head.....

SISU dont want to buy part of the stadium or buy revenue rights, they want the whole thing, on the cheap so they can asset strip that too and sell it on!.

Until SISU are put behind bars (Its not actually beyond reason at the moment) then its safest with the Higgs Trust.

Skybluerevolution (Pt2) · Aug 6, 2013

How much would the Higgs half be worth right now, without any anchor tenant?

chiefdave · Aug 6, 2013

the original deal (which I think was running out shortly anyway) goes with Ltd being liquidated. I believe, PWKH will be able to confirm, that SISU wouldn't pay the amount the formula dictated and put in a lower offer, which Higgs accepted and then heard nothing else from SISU.

Jack Griffin · Aug 6, 2013

Think the option expires in 2015, ie 10 years after the Ricoh was opened.

Snozz_is_god · Aug 6, 2013

chiefdave said:
the original deal (which I think was running out shortly anyway) goes with Ltd being liquidated. I believe, PWKH will be able to confirm, that SISU wouldn't pay the amount the formula dictated and put in a lower offer, which Higgs accepted and then heard nothing else from SISU.

True, that's how I remember it, but like I said earlier, CCFCLtd has yet to be liquidated, despite the national press running with it on Friday, it has yet to be confirmed.

Sisued · Aug 6, 2013

That's a fair point. Could the delay in liquidation be due to the investigation that well happen if it is liquidated?

God I want these horrible cunts out of my club.

dongonzalos · Aug 6, 2013

PWKH
Did answer it before
I think testing my memory
The club had first refusal. They agreed a heads of terms. They then walked away.
That was their first refusal. They didn't follow it through so now it is fair game.

dongonzalos · Aug 6, 2013

Thailand has spoken
(Not to me by the way)

James Smith · Aug 6, 2013

chiefdave said:
the original deal (which I think was running out shortly anyway) goes with Ltd being liquidated. I believe, PWKH will be able to confirm, that SISU wouldn't pay the amount the formula dictated and put in a lower offer, which Higgs accepted and then heard nothing else from SISU.

Not sure SISU actually made an offer just agreed heads of terms and then just walked away. Tim made an inaccuracy about this which may be where the confusion arises.

Samo · Aug 6, 2013

kingharvest said:
So would there be any value in someone else just purchasing the Higgs half now giving them potential leverage to wrestle control of the club? It may also give us a foundation/fall back position should the worst happen and CCFC the club, cease to exist? And i would have thought it would weaken SISUs position even further in terms of bringing CCFC back to Coventry.

They'd actually HAVE to build a new stadium then - nice little acid test perhaps?

The value of someone, PH4 for example, owning the Higgs half is that it gives ACL the financial clout to win the forthcoming game of 'who has the deepest pockets and can out-wait/distress the other. If the pressure is off ACL, it's game over for SISU.

Snozz_is_god · Aug 6, 2013

Samo said:
The value of someone, PH4 for example, owning the Higgs half is that it gives ACL the financial clout to win the forthcoming game of 'who has the deepest pockets and can out-wait/distress the other. If the pressure is off ACL, it's game over for SISU.

Absolutly, a strong ACL = SISU have lost and they will bog off

torchomatic · Aug 6, 2013

As far as I understand it the Higgs share can be sold to anyone except the current owners of the football club.

Steve.B50 said:
As I understand it, the Higgs half can now be sold to anyone as long as the CCC side agree to it.

torchomatic · Aug 6, 2013

So where does the "ACL refused to negotiate and said talks would never resume" line come from then?

James Smith said:
Not sure SISU actually made an offer just agreed heads of terms and then just walked away. Tim made an inaccuracy about this which may be where the confusion arises.

James Smith · Aug 6, 2013

torchomatic said:
So where does the "ACL refused to negotiate and said talks would never resume" line come from then?

Erm well ACL isn't the Higgs so they agreed heads of terms with the charity, not ACL. PWKH said they were still willing to sell to SISU a while back on a post on here.

PWKH · Aug 6, 2013

The dates and the price formula are complicated, but they are now irrelevant. It doesn't really matter what any of the conditions are now: the Administrator could not exercise the Option even if he was so minded. This means that the Charity is free to sell to anyone subject to the veto both shareholders have over the sale of shares by the other.

The Charity arrived at a Heads of Terms with Sisu in June last year. As has been said by other posters, nothing more was heard from them. Fisher, in the forums that he held, made his comment about two turkeys and it was then clear that their silence was actually them backing out of the deal through inaction. Perhaps it was because they didn't want to trigger the clause in which they agreed to pay the Charity's costs. The Trustees would not have talked to them without this guarantee. The Trustees are now having to try to recover this money through the courts as Sisu have refused to pay.

DazzleTommyDazzle · Aug 6, 2013

PWKH said:
The Trustees are now having to try to recover this money through the courts as Sisu have refused to pay.

If nothing else, you at least have to admire their consistency.

kingharvest · Aug 6, 2013

PWKH said:
The dates and the price formula are complicated, but they are now irrelevant. It doesn't really matter what any of the conditions are now: the Administrator could not exercise the Option even if he was so minded. This means that the Charity is free to sell to anyone subject to the veto both shareholders have over the sale of shares by the other.

The Charity arrived at a Heads of Terms with Sisu in June last year. As has been said by other posters, nothing more was heard from them. Fisher, in the forums that he held, made his comment about two turkeys and it was then clear that their silence was actually them backing out of the deal through inaction. Perhaps it was because they didn't want to trigger the clause in which they agreed to pay the Charity's costs. The Trustees would not have talked to them without this guarantee. The Trustees are now having to try to recover this money through the courts as Sisu have refused to pay.

Thanks for the update - bit of a long shot, but have you had any enquiries from anyone interested in purchasing the trusts share?

shmmeee · Aug 6, 2013

torchomatic said:
So where does the "ACL refused to negotiate and said talks would never resume" line come from then?

Fisher/Sisu/CCFC. This has been a game of who do you believe for a long time. One side is in this thread making details comments, the other makes potshot statements and refuses to be drawn on detail. Make your own mind up.

Or, you know, realise that this is nothing more than a sideshow in the main attraction and don't take it too seriously.

Snozz_is_god · Aug 6, 2013

shmmeee said:
Fisher/Sisu/CCFC. This has been a game of who do you believe for a long time. One side is in this thread making details comments, the other makes potshot statements and refuses to be drawn on detail. Make your own mind up.

Or, you know, realise that this is nothing more than a sideshow in the main attraction and don't take it too seriously.

I've been convinced along time who's statement to believe and who's statements are fabrications of the truth.

The problem is there are still a lot of fans that need convincing.

The Higgs Share - PWKH might help... (1 Viewer)

New Member

Well-Known Member

Well-Known Member

New Member

New Member

New Member

Well-Known Member

New Member

New Member

Well-Known Member

Jack Griffin

Guest

New Member

New Member

Well-Known Member

Well-Known Member

Well-Known Member

Well-Known Member

New Member

Well-Known Member

Well-Known Member

Well-Known Member

New Member

Well-Known Member

New Member

Well-Known Member

New Member

Users who are viewing this thread

Privacy & Transparency

Privacy & Transparency