Doug King Takeover (38 Viewers)

[GIMOC]

So why sell at all? He’s doing nothing Sisu couldn’t have done a month ago.

Look at the headline. Local businessman buys club. It gets fans onside. Also it puts pressure on ashley about buying the ground tomorrow. Timing is impeccable.

 

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[Otis]

Buying a football club is like making lo a beautiful woman

It all goes soft on you quite quickly?

 

[Nick]

MA would want to buy CCFC at a distressed rate - much harder now there is a new owner

Exactly, or just get it into admin.

 

[shmmeee]

MA would want to buy CCFC at a distressed rate - much harder now there is a new owner

I don’t think Ashley wants the club at all TBH.

 

[GIMOC]

If they know that they wouldn't sell most of their shares?

It’s the corrupt world of hedgefunds

 

[mark82]

As always with CCFC, hearsay.

This has come as a complete shock I'd say to all of us.

I just pray it's for the benefit of CCFC, not another false dawn.

It has come as a shock, and I get the skepticism, but there has been noise they may be looking to sell or seek additional investment.

 

[Brighton Sky Blue]

OR that Ashley wasn't going to try and buy the club... just take it?

That's also possible. But if he was never bothered about the club in the first place, he will simply outbid whoever tries to stop him. And he wouldn't care at all about what happened to CCFC as a consequence.

 

[Otis]

That’s all I’m giving him. 24 hours.

 

[Londonccfcfan]

As always with CCFC, hearsay.

This has come as a complete shock I'd say to all of us.

I just pray it's for the benefit of CCFC, not another false dawn.

Agree Just hope this isnt another sucker punch to the fans. Stop fucking playing games with us.

 

[Liquid Gold]

“
SISU chief executive Joy Seppala said: "This is a fantastic moment for Coventry City - and the city. I know that Doug has long been an admirer of the Sky Blues.

"He shares our ambition to deliver the most successful football club possible, to climb the football pyramid, and invest both on and off the field.

"The sale of the CBS Arena does provide short-term uncertainty and with Doug on board we intend to set out a robust bid for the stadium which, if successful, will provide a platform for long-term success."

This has a smell of Joy still pulling the strings.

Council are furious. They've put 50p in this washed up old boiler.

 

[shmmeee]

Look at the headline. Local businessman buys club. It gets fans onside. Also it puts pressure on ashley about buying the ground tomorrow. Timing is impeccable.

Unless Ashley buys the ground tomorrow. Then it’s abysmal. Seems like trying to be too clever when they could just announce a plan to buy it a month ago and have public support when it could actually do something.

It’s still in Ashley’s hands, no?

 

[Gynnsthetonic]

Why does it put off Ashley doing a deal with King, we don't know what he's paid for it even

 

[mark82]

Any articles linking this specific individual? Nobody had heard of him until the club statement.

No, but I don't know why there would be.

 

[Liquid Gold]

Look at the headline. Local businessman buys club. It gets fans onside. Also it puts pressure on ashley about buying the ground tomorrow. Timing is impeccable.

Coventry City: SISU agrees deal to sell Sky Blues to local businessman Doug King

Coventry City owners SISU agree a deal to sell the club to local businessman Doug King - and also reveal a bid to buy the CBS Arena.

www.bbc.co.uk

The BBC said local businessman.

Both based in London. Makes you think.

 

[Flying Fokker]

Maybe he is a SISU investor and he is calling in debt or guarantees owed to himself ,the only way SISU can fulfill any obligation is give over this share of CCFC and to write off the debt.

Why would his hedge fund invest in SISU’s hedge fund project?

 

[Mr Panda]

After this evening I wouldn’t even be shocked if Preston Haskell IV turned up in his pink cowboy hat with a late bid

 

[cowboy1850]

We are keen to meet with Coventry City Council representatives and others as soon as possible to set out our vision - which includes the regeneration of the area."

This part makes me suspicious. We are a football club first and foremost and straight away he's reaching out to the council with grand un-football related ideas.

 

[Brighton Sky Blue]

Unless Ashley buys the ground tomorrow. Then it’s abysmal. Seems like trying to be too clever when they could just announce a plan to buy it a month ago and have public support when it could actually do something.

It’s still in Ashley’s hands, no?

Agreed.

 

[Flying Fokker]

Coventry City: SISU agrees deal to sell Sky Blues to local businessman Doug King

Coventry City owners SISU agree a deal to sell the club to local businessman Doug King - and also reveal a bid to buy the CBS Arena.

www.bbc.co.uk

The BBC said local businessman.

Both based in London. Makes you think.

I always read local meaning Stratford-on-AVON

 

[shmmeee]

Can I just say the speed this forum has moved from being completely wrong about all this for 400 pages to a whole new set of certainty is a real inspiration.

 

[Brighton Sky Blue]

We are keen to meet with Coventry City Council representatives and others as soon as possible to set out our vision - which includes the regeneration of the area."

This part makes me suspicious. We are a football club first and foremost and straight away he's reaching out to the council with grand un-football related ideas.

It's not far off what they came out with when they went in for the Higgs share.

 

[CCFCSteve]

Thats the way I see it too.

Leaves Ashley with a decision about buying the stadium with potentially no CCFC.

Ashleys not stupid though and will know if it’s a stitch up or not. If Kings genuine and has got cash, then fair enough, Ashley could still proceed with purchase and sell stadium to him at some point in future. if not, similar situation as before of Ashley waiting it out for opportunity to buy club

Stating the obvious but first and foremost this feels like SISU are trying to delay any court decision tomorrow, potentially in the hope that Ashley walks away, which would leave king/SISU to have a clearer run at stadium

Still hoping the sale to King all stacks up and he’s got cash to burn. Will hold off any excitement for now though

 

[AFCCOVENTRY]

this news tonight is just a little bizarre

 

[wingy]

Sorry can't help it suspicious ,frustrated .
Potential for someone in the same game doing the same tactics who apperently is not extremely wealthy like sub £20M if the posting on here is accurate.
No money may have even changed hands as of yet

Not even certain of the other guy yet.
Ashley that is ,and bizarely prepared to splurge £50M to the Derby+ground bid.

 

[Sky Blue Harry H]

How could the deal leave the club debt-free?
Also does anyone know anything about Doug King?

Well if we no longer owe interest etc to SISU, no longer have to pay management fees etc, that will be a good start. Of course, the next bit might be how does Doug get his capital investment back? Who knows, but if he is interested in the club and has funds, one hopes that he can at least stabilise and build from here. We have a lot going for us (once the stadium issue is resolved - just that 'small' bit to navigate!)

Still feels like a happy day to me. Sitting here with a silly grin, while the dog is just staring at me wondering what's up with me!

 

[Gynnsthetonic]

 

[Sky Blue Pete]

I’ve got a horrible feeling this ‘takeover’ is just sisu under a different guise to put the shit up ashley tomorrow

Who are you???

 

[Nsgdm1]

Why would his hedge fund invest in SISU’s hedge fund project?

He may have invested privately ,that is why it shows him as being buyer not his hedge fund.
All just a bit of a theory ,no actual knowledge.

 

[Brighton Sky Blue]

No, but I don't know why there would be.

So it's not credible that Ashley would have an interest in the club because he hasn't been named explicitly in connection with it, as a complete unknown just took an 85% shareholding out of the blue?

 

[Evo1883]

SkyBluesTalk

Everywhere sadly , even down to Stuart linnel on twitter , all very negative .. don't know what to think now

 

[Londonccfcfan]

Unless Ashley buys the ground tomorrow. Then it’s abysmal. Seems like trying to be too clever when they could just announce a plan to buy it a month ago and have public support when it could actually do something.

It’s still in Ashley’s hands, no?

Jeez i thought you was in the know, having contributed in about 100 pages of this bollocks and now you ask the most basic of question..is it in Ashleys hands?

 

[pusbccfc]

Very, very strange to see such little coverage from the national press.

Both before and after this has come out.

 

[theferret]

I cannot believe everyone is buying this utter bullshit,nots typical tactics from the corrupt world of football, a random stranger whos partner has a brother on the board of directors for sisu decides to put in a bid despite the fact he has ko interest in football.

Next you will all he telling me awarding the world cup to quatar was a fair and democratic pricess

He hasn't just "put in a bid", the club is his once efl approve. As for "random stranger", were you expecting a celebrity? Graham Norton maybe?

 

[nicksar]

 

[Flying Fokker]

I don’t think Ashley wants the club at all TBH.

That was suggested by Gilbert as well. It’s a strange move if not, but i guess we’ll know soon enough?