Doug King Takeover (27 Viewers)

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djr8369

Well-Known Member
Sky Blue Pete said:
Mmmmm not sure it does

“We have made it a priority – and one of our first acts as majority owners – to submit a bid to acquire the CBS Arena. 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

Might be 2 weeks too late but @shmmee using the language you’ve wanted
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Yeah but it’s late and just grandstanding? If court goes to plan MA has the stadium tomorrow? Something isn’t right…don’t think we can celebrate yet.
 
T

thekidfromstrettoncamp

Well-Known Member
IF by any chance MA ended up owning the Stadium and Doug King ended up buying the club (which i hope he does),and MA tried to put the rent up to an unreasonable level .I feel there would be that much adverse publicity he would back down.Maybe wrong my thoughts
 
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djr8369

Well-Known Member
chiefdave said:
Will be interesting to see the council response, this pretty much removes SISU (is the minority stake retained on the basis the new owner will buy them out on promotion as a means of them getting a return?), removes any we're building a new stadium rubbish and promises regeneration in the area if the club gets ownership of the stadium.

That's pretty much every reason that has been given for the council not being exactly cooperative with the club removed isn't it?
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Yes but the statement seems a bit try hard in pointing that out? All feels a bit PR to me. Is this just the move people were waiting for SISU to make?
“No debt”, “regeneration”, only bid that guarantees the club a home…
 
Nick

Nick

Administrator
If somebody was to say to the Trustee / Bondholders "refuse to remove security and if it falls into admin we will buy it from admin and give you a better amount".

Would that work?
 
shmmeee

shmmeee

Well-Known Member
Threads fast moving. Any of our business experts explained what an “equity bid” is yet?
 
Otis

Otis

Well-Known Member
David O'Day said:
His brother and his brothers company congratulating him on by the club?
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Hmmm. He's bald, does look a bit like a royal and his name is Will King. Anyone else getting a sense that, that is King William and this is his first step in usurping Charles III?
 
chiefdave

chiefdave

Well-Known Member
OldBedrocker said:
Strange wording isn’t it? As if there is a plan to add debt to the club at some point in the future
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Alternatively the club runs at a loss so if you clear the debt today you're not going to be debt free this time next year.

I know we've put up with a lot but at some point something will happen to the club that doesn't involve it being the worst case scenario, lets hope this is that moment.
 
S

SBT

Well-Known Member
So questions I have tonight (beyond the earlier ones about his links to SISU):

* What’s the extent of this guy’s relationship with the local area, beyond this one Velo company?

* If King is buying the club in a personal capacity, what’s his personal net wealth and how is he funding the takeover?

* If he made his fortune on shorting oil prices in 2014 and 2020, how’s he doing financially now that prices are back at ~$100/barrel?

* Are the club’s debts being written off or paid off?

* Why is King’s bid for the CBS supposedly the only one which can guarantee that CCFC play home games there in the long term?

* Where does this leave the plans for - and I’m deadly serious here! - the Warwick University project?

* Who will sit on the club’s board and what happens to the current management team? (Boddy etc)

* Why do you build me up (build me up) buttercup baby just to let me down?
 
Houchens Head

Houchens Head

Fairly well known member from Malvern
I can't feel anything good yet. The stadium and club ownership has been in such a state for the last god-knows how many years, I struggle to trust any announcement. All I know is that Mark Robins is doing a fantastic job at the moment and needs all the support we can give him from the stands.
 
ms639

ms639

Well-Known Member
There is FAR more to this than a simple takeover deal. This stinks of a SISU counter play to Mike Ashely’s move for the ground and club.

The bloke clearly does not have the financial clout to move for the club independently so he’s either part of much larger consortium or a SISU bank rolled preferred bidder to compete with the Ashley position.

My money is on the latter


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