Doug King Takeover (53 Viewers)

[The Philosopher]

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?

Pure speculation as normal but - surely the Trustee will have to act in the best interests, legally, of the Bondholders.

 

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[Sky_Blue_Dreamer]

This thread is gonna take some wading through.

 

[BackRoomRummermill]

This story is like the Russian missile that never was - some people waited - some people were worried - and sky news wanted WW3

 

[wingy]

Apparently it would buying shares of the company and not assets
So my question could they co-deal with Ashley tomorrow?

Question is buying equity share after admin,cos if it happened tomorrow for instance there would be no admin?
Then the statement seems to divert to full on bid for it schmoozing council so forth , confused?

 

[fernandopartridge]

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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Who says they're competing? Ashley buys the assets out of administration and flips part or all to CCFC.

 

[Silsden]

Oh FFS it's going to be the King of shaves stadium isn't it

We’re rumoured to be getting a few Brazilians in the squad soon

 

[Brighton Sky Blue]

Who says they're competing? Ashley buys the assets out of administration and flips part or all to CCFC.

If they aren’t competing then the timing of this announcement makes little sense.

 

[Sky_Blue_Dreamer]

Just to state my position on events of the last few hours.
I've no idea what's going on.
I've never heard of Doug King. (When I heard about someone called King buying us out of nowhere I expected it to be a guy called Joe and for it to have been exclusively revealed by Greggs.
I have no idea how much he paid for 85%, or what 'debt free' means.
I have no idea how much money he has.
I have no idea whether this will allow us to keep the star names in January and bring in reinforcements (though I will be allowing myself to be deluded into thinking it might be the case for at least a little while).
I have no idea if he's secretly working behind the scenes with MA to enable him to get the club and stadium
I have no idea if he's Joy in drag.
I have no idea if he plans to dig up all the pitches and plant rapeseed oil.

Put simply...

 

[Brighton Sky Blue]

Just to state my position on events of the last few hours.
I've no idea what's going on.
I've never heard of Doug King. (When I heard about someone called King buying us out of nowhere I expected it to be a guy called Joe and for it to have been exclusively revealed by Greggs.
I have no idea how much he paid for 85%, or what 'debt free' means.
I have no idea how much money he has.
I have no idea whether this will allow us to keep the star names in January and bring in reinforcements (though I will be allowing myself to be deluded into thinking it might be the case for at least a little while).
I have no idea if he's secretly working behind the scenes with MA to enable him to get the club and stadium
I have no idea if he's Joy in drag.
I have no idea if he plans to dig up all the pitches and plant rapeseed oil.

Put simply...

Needed a Manuel gif for that surely

 

[ms639]

This is 100% a sisu backed initiative. It’s BS. The bloke’s investment company sits on 300 mill of investment it’s pittance. There’s no visible liquidity and if it’s debt finance it’s the last thing we need.

Mark my words, this has as much legs as the Warwick uni stadium, its a counter play to buy time.

I’ve been involved in M and A stuff and this is FAR too left field to represent anything serious.


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[shmmeee]

Yeah I’m out. His brother paid for his Twitter tick.

 

[The Philosopher]

That Council Scrutiny Piggy Twitter thingy account on Twitter with the redacted document seems a very minor ITK but has access to some Council info by the looks of it.

The account suggests most are missing the point WRT the 15% SISU hold, and the kicker will come tomorrow / Friday. Normally we should ignore accounts like that but it’s in some way credible in having access to council documents.

The consensus on here seems to suggest DK has simply absorbed the liability of the SISU debt (Arvo funds?) into the Hedge he controls or similar? Some kind of debt swap?

No matter.

“Clearing immediate debts” might at least mean the embargo is lifted (don’t get too excited Max B fans).

“Initially debt free”. Ok. Right-ho.

Someone earlier thread mention Robert Jarni being in the room. I take it that was an inference to DK being Jarni ie straight sale to MA without getting boots dirty. This would leave SISU of course with 15%

Initial “FML we’ve got à wealthy local new owner” has shifted to “I’m a Cov fan, we’re going to get laughed at for raising our hopes”.

Anyway. It’s not boring.

 

[here_comes_theking]

Nothing more than rumours at this point chap but I've got a couple of mates who've crossed paths with Doug in finance circles and they've given me some mixed reviews on his etiquette today!

You wouldn't know anything about Doug King if he walked up to you and bit your nose off. "Finance Circles" - go away you troll

 

[shmmeee]

What’s with all the new accounts claiming to know this bloke?

@Nick any insight? Is it all Boosh or what?

 

[The Philosopher]

You wouldn't know anything about Doug King if he walked up to you and bit your nose off. "Finance Circles" - go away you troll

Hi Doug? Good first 17 mins on here?

 

[Mr Panda]

 

[Brighton Sky Blue]

What’s with all the new accounts claiming to know this bloke?

@Nick any insight? Is it all Boosh or what?

Clearly is, ‘Forever21’ the giveaway this time. There always is

 

[shmmeee]

That’s the account that just put Ben Wilson (and Hamer and Vik) in the Championship team of the season so far. I have questions.

 

[fernandopartridge]

Is council scrutiny piggy the same person that for years hinted at various things but never revealed, KovBlog?

 

[shmmeee]

Is council scrutiny piggy the same person that for years hinted at various things but never revealed, KovBlog?

Very similar posting style. Would be writing letters to the council in green pen pre-internet days.

 

[ms639]

Read it again..

‘And with Doug on board we intend to…’
The ‘we’ is the telling part. Doug is representing the interests of SISU. This is exactly the same as the new stadium debacle. It’s puts a name to a random rumour with the intent of bringing it credibility.

This is highly unlikely to happen and if it does it’s a change of name and not a change of interest. ‘Doug’ will represent SISU.

This is one of 2 things in my eyes.

1) it buys SISU time to formulate a counter offer on the stadium, representing a ‘serious’ interest in owning the club and the stadium

2) (the most likely). It artificially inflates the price of the club which allows SISU to make more money on the inevitable sale of the club to Ashley.

This is unstoppable force versus unmovable object territory…

Ashley who has made a habit of acquiring struggling businesses and turning them around versus SISU who have a reputation of taking on businesses in legally murky territory and then going to court to seek a favourable position.

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[The Philosopher]

Is council scrutiny piggy the same person that for years hinted at various things but never revealed, KovBlog?

Very similar posting style. Would be writing letters to the council in green pen pre-internet days.

Don’t know. If it’s a Walt account then so be it. Guess we’ll find out.

Had my hopes up we’d found an ITK in the Council finance top tier.

 

[covmutley]

Don't get excited. This is all still a game,and the timing of the 'sale' shows that.

The club and stadium are owned by different parties, so whoever that is today, or by tomorrow, someone still has to blink first. Nobody involved here is giving in. We thought sisu were stressed, this gives them a lifeline and strength.

I honestly think sisu hold the power now. I dont confess to understand much of these processes, but sisu owns a viable business and acl is the company in trouble.

Maybe Ashley will buy it and try to squeeze the club. But history shows sisu will move stadium, if pushed too hard. Why would Ashley give himself that headache?

It's going to be a messy few weeks, but I am still hopeful we will see club and stadium united one way or another in the coming weeks. Strap in!!

 

[Little Mix Forever]

What’s with all the new accounts claiming to know this bloke?

@Nick any insight? Is it all Boosh or what?

Clearly is, ‘Forever21’ the giveaway this time. There always is

Not me this time though I appreciate your obsession. Out of interest why would Forever 21 have anything to do with me?

Also I tend to make my new accounts fairly consistent and obvious they are me so shouldn’t be that difficult to spot me. One day I’ll be allowed to stay Boosh has been gone for 18 months now I believe.

 

[Gibbo]

so MA wants to squeeze SISU and buy the club at a distressed rate, and SISU want to box MA in and get the stadium at a distressed rate, or something liken that anyway

 

[Gibbo]

I never saw Joy as the sort to just roll over and accept the inevitable. Seems that she isn't going quietly.

 

[duffer]

So my thoughts
The day before the court case SISU sell the club (or majority share) this scuppers any way of Ashley getting the club, he then pulls out of the CBS Arena leaving it open for SISU to pick it up

That's an interesting take, I like it!

What if Ashley follows through though, we end up with a new owner but a landlord at odds with the club.

 

[Kieranp96]

i'm just confused

 

[The Philosopher]

That's an interesting take, I like it!

What if Ashley follows through though, we end up with a new owner but a landlord at odds with the club.

Unless Joy kicks him out after and says “Mike it wasn’t me hun, it was big bad Doug who caused all the hassle.”

I dunno. We’re reaching.

 

[Sky_Blue_Dreamer]

Needed a Manuel gif for that surely

That's what I wanted but nothing came up

 

[Sky_Blue_Dreamer]

That's an interesting take, I like it!

What if Ashley follows through though, we end up with a new owner but a landlord at odds with the club.

Given the state of Mike Ashley the last thing anyone wants is him following through!

 

[duffer]

247 companies use this serviced office as a registered address for companies house

247 out of a good few million. It seems a remarkable coincidence to me. Doesn't necessarily invalidate anything, but does make me a bit nervous.

Edit: Sorry, this is bollocks. The addresses are different on companies house. That bloke who posted it on twitter appears to be talking out of his arse. How unlike twitter, it's usually so reliable.

 

[Earlsdon_Skyblue1]

Yeah I’m out. His brother paid for his Twitter tick.

Better than the council paying for yours m8.

 

[shmmeee]

So base assumption based on gut feel, just putting this down so it can be laughed at later:

- King bloke appears to not have much money (in terms of running a Champ club) so whatever happens I don’t think it changes much on the pitch. Seems mostly a property deal.
- Sisu will try and pull some shit in court tomorrow, it won’t work.
- Ashley will buy the arena and we’ll carry on as before

 

[Sky_Blue_Dreamer]

Free pack of razors with every season ticket.

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Bit dangerous given how we've played for large sections of our history and how we react to stuff. Just have people slitting their wrists at 3:02pm first day of the season cos we're not 5-0 up