HuckerbyDublinWhelan
Well-Known Member
You know what, I’ll be happy if we just don’t hamstring robins anymore.
Doug King Takeover (46 Viewers)
- Thread starter jackdg
- Start date
Skyblue_CP
Well-Known Member
Have to agree with this somewhat. It’s all been a quick flash in the pan attempt to make a late bid for the Arena that has ultimately failed. He hasn’t really remotely made any comments about the actual club other than we’ve won the last 4 games and he hasn’t actually met MR yet. Surely as the new prospective buyer of a football club, the first thing you do is go and greet the manager and playing staff and get a feel for the club?
Not “I approached Joy 2 weeks ago and asked her what’s going on” if it was purely about buying/owning and running a football club, surely it would have crossed his mind more than 2 weeks ago. It was and is about the Arena and the Arena only.
no_loyalty
Well-Known Member
No I won’t, I will only attend when we play Norwich.
KenilworthSkyBlue
Well-Known Member
If he puts the rent up SISU will force the club to leave and he'd be left with a football stadium without a football team playing in it - ultimately causing him to lose millions. He's not an idiot.
It's baffling how people think he's that desperate for the club when there's been very little indication of that.
The club is already distressed he doesn't really need to distress it any further and lose millions, perhaps even 10s of millions, in the process.
If he was that desperate for the club it would make the most sense, even at its current inflated price, to take it over now while it has the manager, momentum and players in place (with a little help in the upcoming window) to drive us forward to the PL.
Why would he starve the club out for 2-3 years? If he was to eventually take over he would've lost millions due to no revenue being received from club activities, be left with a L1 club at best, no Robins, a massively fractured fanbase once again and a crap squad which would need completely replacing just to get us up to the Championship. Then you ultimately have to factor in the huge amount of investment to required to get us up to the PL which may not even come off as shown by pretty much the vast majority of clubs within our league.
Stafford_SkBlue
Well-Known Member
Ceetee says:
Spending £25milion on a business that might be profitable if differently run is a valid investment.
Spending £25 million on a few players in the hope that the team might get promoted is a different level of risk.
Interesting what business model do we want with what risk
Bristol City have just reported a loss of £28.5m for 21/22 season. Down from £38.4m the previous season. They have reduced their wage bill by £5m, in that year. I think they had a wage bill in the £30m region a few years ago.
Since Steve Lansdown became Chairman, 20 years ago, they have accumulated losses of just under £200m.
They currently just above the relegation slots in the Championship.
I think I prefer our current business model, where we have control of the wages and invest in young players, who appreciate in value.
Fact is we currently in a much stronger position then Bristol, so throwing money in does not always work, look at Derby.
I think Bristol are now in a position where we were 10 years ago.
We have some excellent young players, who are capable of getting us into the PL, that have been a product of good management from the recruitment side, although they have been some failures along the way.
Spending £25milion on a business that might be profitable if differently run is a valid investment.
Spending £25 million on a few players in the hope that the team might get promoted is a different level of risk.
Interesting what business model do we want with what risk
Bristol City have just reported a loss of £28.5m for 21/22 season. Down from £38.4m the previous season. They have reduced their wage bill by £5m, in that year. I think they had a wage bill in the £30m region a few years ago.
Since Steve Lansdown became Chairman, 20 years ago, they have accumulated losses of just under £200m.
They currently just above the relegation slots in the Championship.
I think I prefer our current business model, where we have control of the wages and invest in young players, who appreciate in value.
Fact is we currently in a much stronger position then Bristol, so throwing money in does not always work, look at Derby.
I think Bristol are now in a position where we were 10 years ago.
We have some excellent young players, who are capable of getting us into the PL, that have been a product of good management from the recruitment side, although they have been some failures along the way.
skybluetony176
Well-Known Member
I think there’s a reason we haven’t heard anything about the team. He isn’t going to be here for long if at all in reality. Unless the EFL has approved it overnight he currently owns nothing, we don’t even know if it’s been put to the EFL. All we’ve had is a statement of intent and an interview that seems it was all about yesterday. I think in the next week we’ll possibly know if MA does have intentions on CCFC and hopefully by Xmas we’ll never have to talk about what SISU are doing/going to do again. I suspect that Doug will be forgotten about long before then.
tisza
Well-Known Member
Seeing as most of the debt was internal not much has changed for the business right now (as of this minute) -struggling to break even, restricted income streams etc. We might go a window without selling but doubt we'll go 2 windows.
DK a businessman not a City fan. He might put in some cash but he's not going to burn cash.
The issues don't change - Championship expensive, not having access to full stadium income etc.
The Philosopher
Well-Known Member
Good analysis.
I said before it’s a waiting game whilst a load of rival clubs eventually run out of money or their owners realise that wilting to fan pressure to spend millions on players has to stop (and they pull the plug like Derby)
Gynnsthetonic
Well-Known Member
Will SISU want to keep the 15% though, is that the idea of selling th 85% to King. They would then be getting 15% on future profits of sales, promotion etc
Gynnsthetonic
Well-Known Member
Lots of clubs ran like Bristol City and Derby, at least CCFC is sort of run by only spending what they have
Grendel
Well-Known Member
As things stand Sisu own 100%
Calista
Well-Known Member
Correct. Do we think the application to transfer the 85% of the club to King has actually been submitted to the EFL? I have my doubts
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tisza
Well-Known Member
Think we're seeing this now.
Parachute payment teams apart spending is dropping - particularly on transfers. One of the reasons this division is so tight is that most teams facing the same issues and also many teams are of a similar size in terms of crowds/income etc.
SkyblueDad
Well-Known Member
Now that is another as yet unanswered question, at the moment sisu are putting nothing in to the ccfc pot we are being told they are retaining 15% so do we assume they will now be putting in 15% how much is O to 15% towards the total running costs of the football club and why can’t they put that in now, they owe HMRC at the moment and we are in a transfer embargo, as usual there are more questions than answers.
To be fair he does not own the club yet and has not met Robins so I wouldn't expect him to be commenting on playing budgets and handing out new contracts yet.
Skyblueweeman
Well-Known Member
Already got one mate.
Skyblueweeman
Well-Known Member
I must ask:
What the f&*k is 3D or 4D chess?
What the f&*k is 3D or 4D chess?
Esoterica
Well-Known Member
Not had enough coffee yet today, and read that as CCFC dildo.
Thought it was a new range in the club shop and tied in neatly with the rumours on it being a Happy Sky Blue Christmas!
chiefdave
Well-Known Member
Not sure I like the bit about him needing to speak to Ashley to see if he's going to honour our lease. Is that less secure than we thought? Everyone has been saying we're fine as we've got a 10 year lease, let's hope there's not some change of ownership clause or anything odd like that.
chiefdave
Well-Known Member
If, and at the moment it's still a big if, he is genuinely taking over the club then I think you need to cut him a bit of slack. With the time the deal was done a bid for the stadium would have been the priority.
If he'd spent day one giving interviews about the playing side and then a few days later started saying he had no chance to bid because he was concentrating on the playing side it wouldn't go down well.
SkyblueDad
Well-Known Member
I think a would be buyer has to show proof of funds and a business plan going forward too exactly what that means not sure but since the Bury FC fiasco i’m sure it is more stringent. I think King will have to tell of any would be partners, now that’s interesting sisu are one 15% worth apparently who currently put nothing in and owe HMRC tax
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I agree mostly chief, however, as many have said he does not own the club at the moment (EFL decision) so cut out all the bullshit interviews and wait until you are actually the owner. We Cov fans have had enough of the bullshit and subterfuge to last a lifetime. The only decision made so far is that Ashley owns the Arena, until something concrete comes through from the EFL that Doug now owns the club, then to me it's still SISU and all the baggage that comes with that PUSB
King is a one man band. He doesnt have a Team who can swoop in and run the club or anything.
In any "normal" takeover, a management team would have been ready and in place from day 1. Now Ashley has the ground, suspect it will be business as usual with Fisher and Boddy running the club.
We dont know where Hoffman fits into it but isnt going to be having any role at the club unless Ashley buys it is he?
In any "normal" takeover, a management team would have been ready and in place from day 1. Now Ashley has the ground, suspect it will be business as usual with Fisher and Boddy running the club.
We dont know where Hoffman fits into it but isnt going to be having any role at the club unless Ashley buys it is he?
SW-Sky Blues
Member
But we don't know what is in that actual lease.
There could be clauses about administration etc. Actually I'm certain there would be.
SW-Sky Blues
Member
I'm really excited about this. But this is SISU, I'm not sure I trust them to sell our club...
skybluetony176
Well-Known Member
Personally I find it hard to believe that Doug will ever own that 85%. My gut feeling is that it was a stunt before yesterday and leverage on the price that SISU end up selling 100% of the club to MA for. I think it’s about SISU putting a stake in the ground of the value of CCFC on the premise that Doug was willing to pay 100% of the debt to own a 85% share of the club so the debt on the books must therefore be market value of CCFC, which of course it isn’t. I can’t see MA wanting to share ownership with SISU so ultimately if SISU want closure on what must surely be their worst investment in their history they’ll have to sell 100%. MA will never pay 100% of the club’s debt for the club and I doubt SISU will be seriously expecting that outcome, although nothing would surprise me with SISU.
SW-Sky Blues
Member
This is on the assumption that Ashley actually wants to buy us.
But either way I don't believe King is going to own us.
MalcSB
Well-Known Member
No they don’t have to show business planI think a would be buyer has to show proof of funds and a business plan going forward too exactly what that means not sure but since the Bury FC fiasco i’m sure it is more stringent. I think King will have to tell of any would be partners, now that’s interesting sisu are one 15% worth apparently who currently put nothing in and owe HMRC tax
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Mcbean
Well-Known Member
Elephant in the room - yes a stretch - BUT making it through the playoffs to the Premiership
It’s like a lottery ticket - you need to be in it to win it - someone will want to be on the end of that possibility
Let’s take the positive - yes King hasn’t mentioned the team much but that really is MR territory currently
As fans we are all in !
It’s like a lottery ticket - you need to be in it to win it - someone will want to be on the end of that possibility
Let’s take the positive - yes King hasn’t mentioned the team much but that really is MR territory currently
As fans we are all in !
Grendel
Well-Known Member
No one has says he would own 1% of the debt even if he ever does acquire the club
Gibbo
Well-Known Member
A number of clubs split the two businesses on purpose -Crewe for example
The Philosopher
Well-Known Member
The Wasps angle needs a little look at.
If MA starts making noises that he is going to get behind Wasps then it potentially devalues CCFC.
Wasps at Arena takes a little bit of potential support and corporate hospitality and advertising away (whether we like it or not)
Plus, it’ll impact the pitch and since we signed up to having rugger buggers share it when we re-signed up then there’s nothing we can do to stop it.
If MA wants CCFC he can play hardball with the above.
Anyone on here think it impossible that MA will own both will a view to having both in the Premier Leagues in two years?
If MA starts making noises that he is going to get behind Wasps then it potentially devalues CCFC.
Wasps at Arena takes a little bit of potential support and corporate hospitality and advertising away (whether we like it or not)
Plus, it’ll impact the pitch and since we signed up to having rugger buggers share it when we re-signed up then there’s nothing we can do to stop it.
If MA wants CCFC he can play hardball with the above.
Anyone on here think it impossible that MA will own both will a view to having both in the Premier Leagues in two years?
Nick
Administrator
I think a would be buyer has to show proof of funds and a business plan going forward too exactly what that means not sure but since the Bury FC fiasco i’m sure it is more stringent. I think King will have to tell of any would be partners, now that’s interesting sisu are one 15% worth apparently who currently put nothing in and owe HMRC tax
The HMRC is on a payment plan which is being paid so isn't going to be a huge issue when they point out why it was needed.