The Bidders (1 Viewer)

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J

JackTaylor

New Member
As I see it we have 3 parties who have declared an interest in buying CCFC Limited and up to 5 others who have not made themselves known to the fans.

1. SISU, who the majority of fans would like to see gone and have dragged our club down to the depths not known in over 60 years. They are run by a secretive woman who does not communicate with the fans, her intentions for the club are baffling, we are £45 to £70 million in debt and she wishes to add to this by building a lego stadium somewhere near Coventry and so we end up £100 million in debt with no realistic chance of future stability or success. No thank you!

2. Mr Michael Byng and associates. Who is Mr Byng? A supporter of many years standing who has the good of the club at heart. He has declared that his business history is not untarnished, bankruptcy and struck off by RICS, he is backed by uAsian corporates who we know nothing about. He has said that the consortium's real intention is to invest in rail infrastructure in the West Midlands and the investment in the club is a sweetener to the local council and community. What if, once there ultimate goal is achieved, they leave the club high and dry? We will be in a worse position than we are now! Has he bid? We do not know. Would he do a deal with the current owners? Apparently so, he is in regular contact with the club's directors and SISU. Is the Asian connection a smokescreen? We do not know.
His advisers, Fletcher, Sharpe and Brannigan are all past directors of the club who have found employment elsewhere within the football industry but now find themselves looking for 'new opportunities'. Hardly a ringing endorsement of their prowess at running a football club.
I would be more positive on this bid if he came out and said something positive and concrete, too many sound bites.

3. Preston Haskell. He has been open with the fans and other stakeholders in his dealings. He has offered the fans participation in the running of the club, the other 2 have not. He is a property developer who has agreed as part of his plan to develop the area around the Ricoh and so increase revenue that can be ploughed back into the team. The inclusion of Joe Elliot and Gary Hoffman in his team I do not have a problem with, they know the problems the club has faced in the past and as lifelong fans have a connection with us mere mortals. If their bid is properly financed I have no problem pinning my colours to their mast.


PUSB
 
R

RogerH

New Member
Agree with much of what you say. Either Byng or Haskell are preferable to SISU, they both will play at the Ricoh, big plus. Like Haskell's promise of supporter involvement.

The only reason I voted for Byng was that if it comes to a straight monetary bid to buy the Club, I believe they have more financial clout. Also Byng himself is a lifelong Sky Blues fan.

Other than that, I have heard enough from both groups to convince me that they would steer the Club in the right direction.
 
BrisbaneBronco

BrisbaneBronco

Well-Known Member
You have to look beyond the decision of the preferred bidder.
If, as expected SISU are the preferred bidder, what happens next.
Who will do a deal with SISU for the club as a whole. Its only speculation on my part, but I reckon Haskell would walk away and not deal with SISU, whereas, Byng is more likely to based on what his investors are trying to achieve in W Mids.
The less likely scenario is that either Byng/Haskell win the bid and tell SISU to do one. We must remember, that the role of the administrator is to get the best deal for the creditors, and as others have said, the main creditor is SISU, oh, and the administrator is SISU's puppet.
 
Voice_of_Reason

Voice_of_Reason

Well-Known Member
I think you will find that one or more of the bidders has the backing of ACL and the Council whereas SISU.s bid does not. This has to be considered by Paul Appleton.
 
J

Jack Griffin

Guest
Byng's backers are not illusory, his company has produced this report on their proposals http://www.railnews.co.uk/content/documents/whiteacre.pdf

stonebridge-railway-and-railnews-proposed-junctions.png


However, a word of warning, I don't think any deals have been signed for the rail scheme yet, so they may not even turn up.
 
R

rupert_bear

Well-Known Member
But who are the bidders ? sisu obviously then we are told the American PHKIV, Byng and his associates and possibly as many as 6 more, really ? are those such as PHK and Byng that seperate ? Last year Hoffman was promoting a Chinese group now apparently an American one, but a different (is it ?) Chinese backed group have appeared ! The murky world of big business knows no scuples, bounderies or rules.
 
D

dongonzalos

Well-Known Member
We only know about Bing and Haskell because Bing wanted us to know.
Haskell - an eagled eyed employee exposed it.
The others?
 
A

Ashdown1

New Member
Didn't some government projects committee look at HS2 amongst many other proposed infrastructure ambitions recently and declare that it could fall on a hit list if the economy and consequently the Treasury deems it all unaffordable.
I imagine the development PH4 would be interested in would be smaller scale and involving a handful of multinational operations to build shops/Hotels/Leisure complex's etc and therefore much more likely to succeed in Todays financial climate !?
 
D

dongonzalos

Well-Known Member
It does strike as a more close bit little package buying the club, half of ACL. Develop the Ricoh. Make a moderate success of the club sell it all on for a healthy profit.

It sounds feasible.
 
RegTheDonk

RegTheDonk

Well-Known Member
Jack Griffin said:
Byng's backers are not illusory, his company has produced this report on their proposal

However, a word of warning, I don't think any deals have been signed for the rail scheme yet, so they may not even turn up.
Click to expand...

Thanks Jack, an interesting read - I'll get my mate at work to read that, he's really into his trains and may be able to decipher the validity of it all.

I guess with so much upheaval and money being thrown around HS2, you can see why CCFC would be relatively small potatoes on a project of this scale. Recent talk of Brum Airport having a 2nd runway would tie in nicely with this HS2 Hub. You would think Byng's company would be desperate to get a piece of this action IF it pans out as intended. Perhaps involvement with CCFC (and I notice building a station at the Ricoh) would be a good pr move by him.
 
oldskyblue58

oldskyblue58

CCFC Finance Director
Do any of the bidders have links with SISU and could they be proposing working some sort of partnership?

It is something that is possible...........
 
W

wingy

Well-Known Member
RegTheDonk said:
Thanks Jack, an interesting read - I'll get my mate at work to read that, he's really into his trains and may be able to decipher the validity of it all.

I guess with so much upheaval and money being thrown around HS2, you can see why CCFC would be relatively small potatoes on a project of this scale. Recent talk of Brum Airport having a 2nd runway would tie in nicely with this HS2 Hub. You would think Byng's company would be desperate to get a piece of this action IF it pans out as intended. Perhaps involvement with CCFC (and I notice building a station at the Ricoh) would be a good pr move by him.
Click to expand...
Is The RICOH station already allocated ? Have seen a lot of Site Huts on Tesco's car park again .:confused:
 
Nick

Nick

Administrator
What would stop a wing of sisu called let's say bebu coming in and being our saviours to take us out of admin.

We would think sisu have gone and they would own the club still?
 
letsallsingtogether

letsallsingtogether

Well-Known Member
Didn't Byng have a seat in the directors box at the Ricoh
oldskyblue58 said:
Do any of the bidders have links with SISU and could they be proposing working some sort of partnership?

It is something that is possible...........
Click to expand...
 
covcity4life

covcity4life

Well-Known Member
haskell apaprently has agreement for 50% of ricoh

byng says its hard to keep his investers interested in ccfc mess,but that might be posturing

and sisu have long term plan for cov

id prefer option 1 or 2 tho
 
olderskyblue

olderskyblue

Well-Known Member
oldskyblue58 said:
Do any of the bidders have links with SISU and could they be proposing working some sort of partnership?

It is something that is possible...........
Click to expand...

Didn't Byng mention , right at the end of his interview, something about owning the club, or PART of the club? Must admit, my first thought on hearing it was he's talking about working with SISU rather than ousting them.
 
D

dongonzalos

Well-Known Member
OSB

When the administrator says the winner of the bid will need to do a deal with Holdings

I assume this is his recommendation and he can't make this a term if the purchase?
 
D

dongonzalos

Well-Known Member
If he can then is it likely

Mr Fisher has created the unviable plan as a bluff that SISU will put in a serious bid for Ltd in order to push the price up.

Once they lose that bid.

They will then ask for a ridiculous amount for Holdings?
 
G

Godiva

Well-Known Member
dongonzalos said:
OSB

When the administrator says the winner of the bid will need to do a deal with Holdings

I assume this is his recommendation and he can't make this a term if the purchase?
Click to expand...

I think he means - if anyone but sisu wins the bid, they would have to negotiate with sisu to exit administration without point penalties (creditors voluntary agreement)

Edit: In addition Holdings sit on the players registrations - most would need to be transferred to the new owner. In effect they should probably buy Holdings.
 
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D

dongonzalos

Well-Known Member
Although Holdings itself is not in administration.

I get more of an impression it is to buy holdings and put the two together.

Just hope this is the administrator's recommendation and not a condition of sale.

Then again if the FA still see the two companies as one then SISU could blackmail and threaten to put Holdings into administration.

Nightmare if after all this Mr Haskell ends up having to buy off SISU anyway and their shocking negotiating.

Although at least this was Mr Haskell would have the upper hand
 
G

Godiva

Well-Known Member
dongonzalos said:
Although Holdings itself is not in administration.

I get more of an impression it is to buy holdings and put the two together.

Just hope this is the administrators recommendation and not a condition of sale.

Then again if the FA still see the two companies as one then SISU could blackmail and threaten to put Holdings into administration.
Click to expand...

I think it is important to remember that the administrator is not in any way acting in the best interest of the football league. However his first priority is to 'save' limited as company with a future. His next priority is to secure the best deal for the creditors.
The only way limited can have a future is being part of ccfc. And if FL see limited and holdings combined as the football club then he may only save limited if it is (re)united with holdings.
 
C

crowsnest

Well-Known Member
If the players contracts are with holdings (rumour last summer about contract changes) then the league wont give the golden share unless they include the players.
 
D

dongonzalos

Well-Known Member
Godiva said:
I think it is important to remember that the administrator is not in any way acting in the best interest of the football league. However his first priority is to 'save' limited as company with a future. His next priority is to secure the best deal for the creditors.
The only way limited can have a future is being part of ccfc. And if FL see limited and holdings combined as the football club then he may only save limited if it is (re)united with holdings.
Click to expand...

I thought his first priority was to get cash back for the creditors.
Second priority keep it going as a business.
 
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