SISU ready to sell? (7 Viewers)

[Brighton Sky Blue]

Hate stuff like this , get me moist for a day thinking about what could be then I slowly realise its not happening and sisu will own us until I die atleast

The only person Mike Ashley gets moist is himself on a hot day

 

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[Offhegoes]

Directly North of London, and before you hit Birmingham / Leicester. How many clubs of our size/potential are there?
Watford, Luton? Both smaller. Northampton? Forget it.
CCFC could be a very attractive purchase.

 

[Hobo]

Perhaps a reason why SISU have been hanging on to their best player assets?

 

[no_loyalty]

The part sale bit is interesting, Sisu could be using a third party to buy the stadium.

 

[Sick Boy]

Seppella is 60? She’s good for her age

Christ.

 

[long way home]

Christ.

Is he the same age then....

 

[clint van damme]

Somebody somewhere else on social media alluded to some big news in a couple of weeks the other day

New doughnut shop in the Burgess?

 

[Sbarcher]

Two or three years ago, I wrote to Jim Ratcliffe of Ineos to ask if he would be interested in buying CCFC. He already owns a football club in Switzerland and reports at that time was he wanted an interest in an English team. As you might expect, I had no reply and recently he lost out for Chelsea. I think we are too small fry for a really wealthy fool and his money.

 

[fernandopartridge]

Use 12ft.io to read the story,

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[robbiekeane]

Slazenger training gear

yves saint lauren FC

 

[fernandopartridge]

Here

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[Evo1883]

Two or three years ago, I wrote to Jim Ratcliffe of Ineos to ask if he would be interested in buying CCFC. He already owns a football club in Switzerland and reports at that time was he wanted an interest in an English team. As you might expect, I had no reply and recently he lost out for Chelsea. I think we are too small fry for a really wealthy fool and his money.

Possibly , or he just didn't reply to a random person asking if he will buy a football club

 

[SkyBlueMatt]

Hate stuff like this , get me moist for a day thinking about what could be then I slowly realise its not happening and sisu will own us until I die atleast

This is it basically, we need to accept we'll all be worm food before SISU sell us.

Though out of all the newspapers, The Times I think carries the most weight. I just hope it's not SISU going back to playing silly games again.

If there was going to be a perfect time to sell us, this would be it. Unless something magical happens, this is about as far as SISU can / will take us. Two promotions in recent years, first piece of silverware for decades, continuous improvement year on year, actual valuable (player) assets, record number of season tickets.

On the other hand it's sometimes the devil you know but I wouldn't be completely against Ashley.

 

[steve cooper]

Two or three years ago, I wrote to Jim Ratcliffe of Ineos to ask if he would be interested in buying CCFC. He already owns a football club in Switzerland and reports at that time was he wanted an interest in an English team. As you might expect, I had no reply and recently he lost out for Chelsea. I think we are too small fry for a really wealthy fool and his money.

I wouldn't reply either if I were him. Has 'scam' written all over it

 

[ccfcchris]

While this is fantastic news if it plays out the way we all hope a little part of me worries is this PR to keep the bad publicity on Wasps.

 

[CCFCSteve]

The part sale bit is interesting, Sisu could be using a third party to buy the stadium.

They could potentially buddy up with someone. If wasps go, the CCC relationship is unlikely to be an issue/blocker due to likely lack of viable alternatives for stadium. As someone else said though SISU are struggling to help us kick on and this could be their peak sale opportunity if stadium is available as well

I don’t see some of the figures being quoted for stadium being likely/possible if there’s also significant renovation works required

 

[shmmeee]

Sounds more like “someone come in and help us buy the ground” more than “we’re bored and want out” from that article.

 

[BananaFlats]

Two or three years ago, I wrote to Jim Ratcliffe of Ineos to ask if he would be interested in buying CCFC. He already owns a football club in Switzerland and reports at that time was he wanted an interest in an English team. As you might expect, I had no reply and recently he lost out for Chelsea. I think we are too small fry for a really wealthy fool and his money.

Dear Jim, please could you....

 

[fernandopartridge]

Is it an attempt to influence bondholders ahead of the likely forthcoming consent solicitation?

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[Danceswithhorses]

Indeed. The price might put him off though-not sure exactly what he bid for Derby.

I think i read, that Kirchner and the chap who eventually bought Derby, were the only bidders who offered enough money to pay off a certain % of the football creditors, which would mean no further points deduction.
Surely it was the ONLY reason why Kirchner was previously accepted, as he's a serial bullshitter, it seems.

 

[better days]

This is it basically, we need to accept we'll all be worm food before SISU sell us.

Though out of all the newspapers, The Times I think carries the most weight. I just hope it's not SISU going back to playing silly games again.

If there was going to be a perfect time to sell us, this would be it. Unless something magical happens, this is about as far as SISU can / will take us. Two promotions in recent years, first piece of silverware for decades, continuous improvement year on year, actual valuable (player) assets, record number of season tickets.

On the other hand it's sometimes the devil you know but I wouldn't be completely against Ashley.

And the interesting thing is the story is in the Business section - no mention of it at all in the Sports area
It looks to me like the owners are putting the club into play in the business community
It's even possible that they're already talking to a party but want other bidders to entry the fray

 

[MusicDating]

Here

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12ft is cutting the article short for some reason. Archive.today is another one and that seems to work fine archive.ph

 

[shmmeee]

Is it an attempt to influence bondholders ahead of the likely forthcoming consent solicitation?

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It’s certainly not a coincidence the most secretive owners suddenly spring a leak to the Times. Could also be to put pressure on CCC “Oh we can’t buy it because CCC hate us”.

 

[Danceswithhorses]

Dear Jim, please could you....

Now then, now then...stop that

 

[Colin Steins Smile]

Beware Lawrence Bassini is bound to show interest…..hopefully Sisu have his card marked

 

[better days]

Full article

Hedge fund puts Coventry City football club in play

James Hurley
Tuesday August 02 2022, 12.01am, The Times
Markets

Coventry City have a stadium-sharing arrangement with Wasps rugby club
BRADLEY COLLYER/PA

The hedge fund owner of Coventry City FC is open to offers from a buyer with the clout to capitalise on financial difficulties at Wasps, the rugby team that owns the football club’s shared stadium.

Wasps, who play in England’s top rugby division, are in default on a £35 million bond, having failed to repay retail investors who helped to finance the purchase of the Coventry Building Society Arena in 2015.

The bond was suspended from the London Stock Exchange in May when repayment had been due. Last Friday Wasps admitted that it also would miss a new repayment deadline of August 12.




The Times understands that Sisu, a Mayfair-based hedge fund, is considering a sale of Coventry City, believing that Wasps’ distress may present an opportunity for a third party to make an offer for the club and, at the same time, bid to acquire the lease for the arena. A senior source said Sisu was “open for business”. Sisu itself is unlikely to make an offer for the stadium because of its troubled relationship with Coventry city council, which owns the freehold.


A spokeswoman for Wasps declined to comment on the idea, but said the club was “committed to its long-term future” at the stadium.


Sisu, which is led by Joy Seppala, 60, an American investor, bought Coventry City in 2007. Wasps, having relocated to Coventry from west London in 2014, bought the lease for the stadium amid a dispute between Sisu and the council.
The rugby club’s bond, which has a 6.5 per cent coupon, was suspended in May on the last day of trading before it was supposed to reach its maturity date. Wasps had said that it was seeking to refinance with HSBC and in June it extended the proposed redemption date for the bonds to August 12.
On Friday, Wasps Finance, the issuer of the bond, said it had not been able to “agree final terms for refinancing” and so would be unable to redeem the bonds next month. Wasps said that in addition to talks with HSBC, it was “pursuing different refinancing options”.
Sisu’s ownership of Coventry City, known as the Sky Blues, has involved an often-fractious relationship with both the council and the team’s fans. However, the team has been enjoying progress on the pitch recently, rising from League Two to the top half of the Championship last season.



Sisu is thought to be open to the football club changing hands or a part-sale of equity if a third party also manages to acquire the lease for the stadium, which was built by the council in 2005. The source, speaking on condition of anonymity, said the natural next step for Coventry City was promotion to the Premier League, but that would require “serious investment”, possibly from a third party. “This is a real opportunity for growing the club into its potential,” the source said.
Wasps said that next month it would ask bondholders to agree a further extension to the redemption deadline, which would remove the bond’s default status, and that it was seeking to have it reinstated on London Stock Exchange. Bondholders will continue to receive interest.
A spokesman for Sisu declined to comment.

 

[Danceswithhorses]

Beware Lawrence Bassini is bound to show interest…..hopefully Sisu have his card marked

I really don't think SISU care 2 hoots who they sell to, as long as they get the money they think they deserve.

 

[Brighton Sky Blue]

It’s certainly not a coincidence the most secretive owners suddenly spring a leak to the Times. Could also be to put pressure on CCC “Oh we can’t buy it because CCC hate us”.

I see that as a deflection from ‘we’re skint’

 

[HuckerbyDublinWhelan]

Beware Lawrence Bassini is bound to show interest…..hopefully Sisu have his card marked

Lawrence Bassini, Chris Kirchner and Dale Evans dream team

 

[Sky Blue Pete]

Sounds more like “someone come in and help us buy the ground” more than “we’re bored and want out” from that article.

Me too and I think robins was giving hints

 

[Grendel]

Is it an attempt to influence bondholders ahead of the likely forthcoming consent solicitation?

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Of course it is. Sisu smell the rotting insect carcass and are looking to cause maximum distress

 

[jimmyhillsfanclub]

Surely SISU have always been "ready to sell"...... its just finding another mug to pay the price they want has always been the problem.

Good press move by SISU.....shines the business spotlight firmly on wasps financial basket case & will surely heap pressure on WMCA to not bail the cunts out.....

 

[HuckerbyDublinWhelan]

And the interesting thing is the story is in the Business section - no mention of it at all in the Sports area
It looks to me like the owners are putting the club into play in the business community
It's even possible that they're already talking to a party but want other bidders to entry the fray

Any positive inside information?

 

[Briles]

Maybe SISU will buy wasps

 

[It’sabatch87]

Would be fun at the SPORTS DIRECT GAME KANGOL STADIUM.

Hummel sacked off for Firetrap kits.

As long as it’s not Lonsdale!!