Doug King Takeover (17 Viewers)

[shmmeee]

Better than the council paying for yours m8.

 

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[Sky_Blue_Dreamer]

Got through the thread and still pretty much none the wiser.

Instincts tell me something isn't quite right though so I'm definitely not celebrating yet and preparing myself for this to be another shitshow.

Maybe it's just a lifetime of being a Cov fan that that's my default position and I'd love it if down the line someone's quoting this to show how wrong i was.

 

[Johhny Blue]

Slightly off topic but does anyone know what the world record is for the highest number of wanks within one hour? Thanks.

I’m not sure how many but the record goes all the way back to 1987

 

[duffer]

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?

Only one I can answer with moderate confidence is the "shorting oil" one. If he's made a fortune out of it I think that implies that he closed his position (i.e. took his profit) long before it went back up to current levels.

Everything else about this I'm clueless on!

It'll be an interesting day tomorrow in court, things are definitely moving in unexpected directions.

 

[Bernie Rhodes Nose]

Yeah, but they won't reject, SISU will sue them.

And they batter people in court

 

[tisza]

Got through the thread and still pretty much none the wiser.

Instincts tell me something isn't quite right though so I'm definitely not celebrating yet and preparing myself for this to be another shitshow.

Maybe it's just a lifetime of being a Cov fan that that's my default position and I'd love it if down the line someone's quoting this to show how wrong i was.

Add me to that.
Concerns: whether debt is gone or just more likely moved somewhere.
-Don't see the arena and football club being in one company (even if they manage to get their hands on it)
- Why SISU are keeping 15%
- Timing
- any deal with bondholders is going to create some fairly substantial debt
-

 

[long way home]

I think Ashley has this all locked up and after getting the stadium he will be very hard to stop if he sets his sights on the club.

 

[wingy]

So should we be looking for a restructure of or with Otium or anything else.
The acquisition of the stadium Will not result in debt for the club initially she said..

 

[Bernie Rhodes Nose]

Is the court case going to be live streamed or anything now if it's public?

Probably ifollow

 

[Kieranp96]

I really hope this bloke isn’t a sisu puppet, has wiped the debt will get some of the stadium and have some backers to pump some cash into the city, I’ve had enough of not having anything

 

[Philosoraptor]

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

Not if you want to trade percentage of ownership in various companies.

Seems like it makes a lot of sense.

No extra debt on the stadium or the club.

 

[robbiekeane]

* 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?

i would imagine he closed out his position to make his fortune lol

 

[CCFC_Irish]

The way I would look at this -

It is all a bluff by SISU, this guy seems like a SISU puppet by making a club who doesn't own a stadium look more valuable than it actually is. SISU are simultaneously saying bye Coventry City Fans you have got what you wanted when in reality we haven't whilst they are trying to make as much money as possible from MA. Not realising this is probably going to monumentally backfire in their faces - this guy was never heard of until 6 hours ago.

 

[robbiekeane]

One thing is for certain, if this is smoke and mirrors and they've not really sold the club at all, then that is absolutely unforgiveable to fuck with the fanbase like that. They've done a tonne of dodgy shit but that is inexcusable

 

[Philosoraptor]

The way I would look at this -

It is all a bluff by SISU, this guy seems like a SISU puppet by making a club who doesn't own a stadium look more valuable than it actually is. SISU are simultaneously saying bye Coventry City Fans you have got what you wanted when in reality we haven't whilst they are trying to make as much money as possible from MA. Not realising this is probably going to monumentally backfire in their faces - this guy was never heard of until 6 hours ago.

From my understanding, SISU was always a vehicle for people to anonymously invest in a football club. We will never know how successful this was.

Maybe it is one of the investors, maybe he's a negotiator for a deal, or maybe he's someone who wants to buy a football club as well as a stadium.

Who knows.

I think some questions may be answered today, All I want to know is: will the football club have better investment than it has at the moment?

A lot of people wouldn't mind seeing top flight football back in Coventry.

It has been a while.

 

[stevefloyd]

Lets hope he's not related to Don ha ha but great news if it hapoens...when I get back to England hopefully those other twats have gone and its a bright future for us again having a stadium and everything....yeeee haaaaaa

 

[Otis]

Add me to that.
Concerns: whether debt is gone or just more likely moved somewhere.
-Don't see the arena and football club being in one company (even if they manage to get their hands on it)
- Why SISU are keeping 15%
- Timing
- any deal with bondholders is going to create some fairly substantial debt
-

I think SISU aren't keeping 15% at all and just said that to wind up the idiotic Sunderland fans who are still banging on about 1977.

 

[pipkin73]

Another out their idea. Have they "agreed" a value of the club with DK to make MA think that is what he needs to beat to buy the club?

Could the "initialy" out-of-debt thing be, if it don't work and DK ends up buying the Stadium then the club will take that debt on?

Trying to read between the lines, as i always say, what is not said is as, if not more important than what is said.

Fingers crossed for later today and the next few weeks PUSB.

 

[Flying Fokker]

The rent discussions could be tricky if Ashley gets the stadium as the 10 year agreement is not valid after tomorrow

There is a 10% chance of things going smoothly. SISU/the bond holders could go to court with their representations. HMRC has a role. It’s another ‘interesting’ time in our history. King seems to be the Trojan Horse.

 

[Flying Fokker]

I think SISU aren't keeping 15% at all and just said that to wind up the idiotic Sunderland fans who are still banging on about 1977.

Hear hear!

 

[skyblueeyesrevisited]

Probably ifollow

It’s on ITV - Judge Rinder

 

[CDK]

His organisation has given SISU address on the stakeholding.
Stakeholding is all it is,what difference does it mean to robins budget?

 

[skyblueeyesrevisited]

There is a 10% chance of things going smoothly. SISU/the bond holders could go to court with their representations. HMRC has a role. It’s another ‘interesting’ time in our history. King seems to be the Trojan Horse.

Trojan? I thought SISU said King was local. Another bloody lie

 

[CDK]

Add me to that.
Concerns: whether debt is gone or just more likely moved somewhere.
-Don't see the arena and football club being in one company (even if they manage to get their hands on it)
- Why SISU are keeping 15%
- Timing
- any deal with bondholders is going to create some fairly substantial debt
-

Think they have bought a stake in the club thinking about it.

 

[Flying Fokker]

A local businessman with no ties to football or to the local area but with tight ties to sisu buys the club and everyone buys the shit from Sisu PR

Must admit, our fervor in wanting new owners seems a bit flat this morning.

 

[fatso]

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.

Sent from my iPhone using Tapatalk

It's probably a way for sisu to remain in the bidding, when certain other parties like CCC and ACL, wouldn't entertain them.

It also gives Sisu access to instant available liquidity that would be needed as proof of funds before any bid can be made. As although Sisu manage millions in their hedge funds, those funds belong to investors who would probably object to cash being siphoned off to buy a football stadium with a dubious history.

 

[djr8369]

My thinking is that they knew Ashley was going to be in for the club after the stadium with the council standing behind him.

They have taken the club option away from him so it means Ashley is going to be buying a stadium with potentially no football club. I wouldn't be surprised if they have said the club will be moved if Ashley takes over it.

Leaves Ashley with an empty stadium.

They then hope Ashley pulls out or cuts them in.

It’s a shout. Makes sense with the timing. I really don’t think we should be celebrating yet.

 

[djr8369]

I’m sure an equity bid will mean having a share of the arena. For instance they will acquire 50% equity. That’s how I read it.

Also means they can’t afford all of it.

 

[junglej13]

May have got the percentage wrong but remember when i told you sisu 100% had an investor to take over the club??



Although im struggling to even believe this myself

When you described what you had heard it actually sounded like it made sense and that Sisu finally had a credible exit plan. I had hoped it was a credible new owner.

Last night's announcement just sounds like complete nonsense to me. The statements I think are really amateurish. Ashley, the Council and the administrator will see straight through this I suspect.

 

[play_in_skyblue_stripes]

Where in London is the court and what time is it on?
I'm in London today.

 

[djr8369]

'If the bid is successful, it would ensure the Sky Blues remain able to play home games in the city and is the only bid which can make this long-term guarantee'

I hope the EFL are taking note of this threat

Yeah this should be alarm bells for everyone.

 

[skyblu3sk]

Unless this King chap has offered the original investors a pence in the pound return on their investment on the basis the club could go in to admin hence hmrc stuff. He essentially buys them out up to 15% which is what sisu originally put in (guess) SISU get to save face and the club be debt free making it more attractive to a new buyer all the other investors take a hit in the background but sisu are at the game for a new higher sale price...

 

[fatso]

Where in London is the court and what time is it on?
I'm in London today.

It's at The Pink Rainbow private members club in Soho. It starts at 8pm, dress code is full black leather!







A friend told me

 

[Robinshio]

Doug king on cwr shortly

 

[thekidfromstrettoncamp]

[/QUOTE]

Doug king on cwr shortly

On in less than 5 munutes