Time to sell (1 Viewer)

covboy1987 · Sep 3, 2013

Don't know how true the information is but we keep hearing that SISU will sell and latest being the trust that mentioned it only yesterday - 30 million has been banded about in some quarters- is that not a spark for the council and Higgs to get Haskel or Bing around the table and say the stadium is worth 150 million (120 million to build) and 30 million for the goodwill we will sell you higgs half share at 4 million and give you favorable rates on the land around the stadium which in turns gives you the finance to pay SISU 30 million with plenty of change which keeps the council and higgs out of negotiations with SISU

mattylad · Sep 3, 2013

Sisu would love to sell but there is no one who is going to meet the value they want.

DazzleTommyDazzle · Sep 3, 2013

SISU got a lot of stick when they bought CCFC because they didn't pay anything for the shares.

I supported them over that issue, because at the time the value of the club was effectively £0 and so it seemed pretty logical that the price of the shares should reflect this.

The problem is that - despite whatever amount of money SISU have put into the club - its value has fallen since they bought it (lower division, smaller crowds etc) and so if SISU want to "get their money back", I think they are going to find it tricky....

Esoterica · Sep 3, 2013

Why do you think Haskell is still interested? Been very quiet since he realised he wasn't going to get the club on the cheap through the admin process. Makes you wonder what his motivation was and whether he really does have the financial backing, doesn't it?

DazzleTommyDazzle · Sep 3, 2013

Esoterica said:
Why do you think Haskell is still interested? Been very quiet since he realised he wasn't going to get the club on the cheap through the admin process. Makes you wonder what his motivation was and whether he really does have the financial backing, doesn't it?

My reading of the situation is that the advantage of purchasing via administration would have been that the buyer would not have to deal with SISU as, rightly or wrongly, a number of parties seem to have trust issues in dealing with them.

As a matter of interest, what price would you consider to be "on the cheap" for a club in our situation?

lordsummerisle · Sep 3, 2013

Esoterica said:
Why do you think Haskell is still interested? Been very quiet since he realised he wasn't going to get the club on the cheap through the admin process. Makes you wonder what his motivation was and whether he really does have the financial backing, doesn't it?

He must have the money, apparently he buys half the Ricoh every two weeks.

By my calculations he now owns 400% of the Ricoh Arena.

DazzleTommyDazzle · Sep 3, 2013

lordsummerisle said:
He must have the money, apparently he buys half the Ricoh every two weeks.

By my calculations he now owns 400% of the Ricoh Arena.

Sounds like the sort of sale SISU would make

CarpyCov84 · Sep 3, 2013

Esoterica said:
Why do you think Haskell is still interested? Been very quiet since he realised he wasn't going to get the club on the cheap through the admin process. Makes you wonder what his motivation was and whether he really does have the financial backing, doesn't it?

Lost out on Leeds sale due to inefficient funds apparently...

jesus-wept · Sep 3, 2013

Also dealing with dodge pot Bates. Not the easiest task.

lordsummerisle · Sep 3, 2013

CarpyCov84 said:
Lost out on Leeds sale due to inefficient funds apparently...

Inefficient funds?

Sisu?

SkyblueBazza · Sep 3, 2013

I sometimes wonder if some of us think these guys sit there & one day just think "I'm getting bored now...I know, I'll buy a football club" before dipping their hand into their back pocket, handing over the cash & signing on the dotted line.
Very few of these filthy rich owners use a significant amount of their own cash (even then it's a show of commitment & belief to sway other potential investors) - they have to raise the capital somehow. Convincing others that CCFC is anything other than a "risky" investment is a major stumbling block.
The Ricoh investors are only interested in getting a good return on their money - however that happens. That imperative then cascades down to ACL...CCC...anyone hiring the place out, or wishing to buy a slice of it. IF ever the club & (any) stadium are ever reunited under one owner it will not happen overnight, easily OR cheaply.

Astute · Sep 3, 2013

Esoterica said:
Why do you think Haskell is still interested? Been very quiet since he realised he wasn't going to get the club on the cheap through the admin process. Makes you wonder what his motivation was and whether he really does have the financial backing, doesn't it?

The part of our club put into admin had no value as everything of worth had been taken out, but SISU still put in a massive paper bid. SISU paid via a I.O.U whereas anyone else would have paid cash for nothing.

torchomatic · Sep 3, 2013

Ah yes, PH4. The property developer. We are lucky that he's genuinely interested in buying a League One team.

lordsummerisle said:
He must have the money, apparently he buys half the Ricoh every two weeks.

By my calculations he now owns 400% of the Ricoh Arena.

covboy1987 · Sep 3, 2013

SkyblueBazza said:
I sometimes wonder if some of us think these guys sit there & one day just think "I'm getting bored now...I know, I'll buy a football club" before dipping their hand into their back pocket, handing over the cash & signing on the dotted line.
Very few of these filthy rich owners use a significant amount of their own cash (even then it's a show of commitment & belief to sway other potential investors) - they have to raise the capital somehow. Convincing others that CCFC is anything other than a "risky" investment is a major stumbling block.
The Ricoh investors are only interested in getting a good return on their money - however that happens. That imperative then cascades down to ACL...CCC...anyone hiring the place out, or wishing to buy a slice of it. IF ever the club & (any) stadium are ever reunited under one owner it will not happen overnight, easily OR cheaply.

Our two main potential investors (and by the way there are a few more) are not particularly after the football club on its own but as part of a bigger picture that is why it would be hopefully good news for the city- developing the land, the concerts, rugby, snooker, etc, the tenant income (hotel chain & Casino,bank) train station link, is what they are really after and if the team do well then that is extra cream as you would have to be brave or stupid to try and raise outside money to invest in a only a football club with a hope to reach the premiership- If any of these potential investors are offered the Higgs share for the reported 4 million and the council share at a sensible offer down the road and the opportunity to develop the land and train station they will be queuing up - I for one think that this is what will eventually happen and there will be plenty in there to pay SISU off and i think this is what Sisu are waiting for as they will not be budged or bullied into walking away-just surprised it is taking so long

torchomatic · Sep 3, 2013

Maybe there wasn't a Mr Leeds who could help him out.

jesus-wept said:
Also dealing with dodge pot Bates. Not the easiest task.

chiefdave · Sep 3, 2013

torchomatic said:
Ah yes, PH4. The property developer. We are lucky that he's genuinely interested in buying a League One team.

So what's the alternative? We don't have any actual fans with millions to put into the club so are you suggesting with stay with SISU just because someone else might actually think it's a good idea to make a profit or there's a possibility they might do a worse job than SISU?

Why is it an issue if PH4 comes in and develops the land around the Ricoh and makes it profitable so long as he Don't do it at the expense of the football team. I know as CCFC fans its dangerous to say it can't be any worse, but really how much worse can things get? we're in absolute free fall at the moment playing in front of pretty much our lowest crowds ever at the lowest level most people can ever remember playing in 35 miles away from Coventry with a decent chance of at least one more relegation before we even think about playing in Cov again. Unless someone takes over and liquidates the lot it's hard to see how things can be much worse.

Taga · Sep 3, 2013

I'm led to believe he is still waiting in the wings. Well he was on Saturday.

CarpyCov84 · Sep 3, 2013

Taga said:
I'm led to believe he is still waiting in the wings. Well he was on Saturday.

How would you know this ???

SkyblueBazza · Sep 3, 2013

covboy1987 said:
Our two main potential investors (and by the way there are a few more) are not particularly after the football club on its own but as part of a bigger picture that is why it would be hopefully good news for the city- developing the land, the concerts, rugby, snooker, etc, the tenant income (hotel chain & Casino,bank) train station link, is what they are really after and if the team do well then that is extra cream as you would have to be brave or stupid to try and raise outside money to invest in a only a football club with a hope to reach the premiership- If any of these potential investors are offered the Higgs share for the reported 4 million and the council share at a sensible offer down the road and the opportunity to develop the land and train station they will be queuing up - I for one think that this is what will eventually happen and there will be plenty in there to pay SISU off and i think this is what Sisu are waiting for as they will not be budged or bullied into walking away-just surprised it is taking so long

I doubt if anyone considers CCFC is anything other than a vehicle to other potential riches - it's just a case of how much does it cost & what is the potential return. POTENTIAL is not a guarantee of the returns promised...so the more anyone has to pay for the Club the less attractive a purchase it is because there's no guaranteed deal to play at the Ricoh. Depending how much (or rather how little) ACL can let the club rent for affects whether it's more beneficial to build a new ground or not.
Until club & stadium are under mutually owned (at least in part) neither are likely to reach their full potential.
All in all it's no can of worms...it's several cans of several different species of worms, & some of them can't co-exist.
We can only sit idly by & hope IMO
NOPM

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