Doug King Takeover (50 Viewers)

[skybluetony176]

Not really - the debt can be moved from Otium entertainment group to Sb s and L or the fund that king and Coleman seem to jointly own

So the charge can remain and structured so it still needs paying like when ccfc was debt free when Sisu first came but the other companies were not

it’s hardly likely that someone pays Arvo off and still allows a 15% equity stake

None of that would leave the club “debt free” though would it, it would just mean that the debt has been transferred. So either the statement is misleading or the club is no longer in debt to SISU or any SISU associated companies or anyone else for the club to be “debt free”.

 

---

[PUSB-We_are_going_up]

I don’t know if it’s been mentioned or not, but he’s stated we won’t be selling and are looking for a promotion push this season in his interview with the telegraph

 

[Grendel]

None of that would leave the club “debt free” though would it, it would just mean that the debt has been transferred. So either the statement is misleading or the club is no longer in debt to SISU or any SISU associated companies.

Ranson claimed we were debt free on that basis

It could be a share equity arrangement - still means payments have to be made

Could be referring to external debt outside an umbrella group

I notice many articles refer to it as “debt free”

 

[SkyBlueSam01]

Anyone able to summarise the last 24hrs and why there is so much scepticism about big Doug? All seems really positive to me but maybe I've missed something?

 

[Deleted member 5849]

Anyone able to summarise the last 24hrs and why there is so much scepticism about big Doug? All seems really positive to me but maybe I've missed something?

You don't find the timing at all coincidental? Even if he's genuine, it's a helluva time to take over!

 

[shmmeee]

Anyone able to summarise the last 24hrs and why there is so much scepticism about big Doug? All seems really positive to me but maybe I've missed something?

Timing and closeness to Sisu mostly, for me the fact that’s he’s talked at length about the arena and seems to know virtually nothing about the club and has no clear plans for it.

I’m still holding out hope that it’s a bit of extra investment to get us further forward this season and beyond as Joy ran out of cash, but I’d like to hear a lot more about how this will affect things on the pitch.

 

[Skyblueweeman]

Sheffield and Wednesday

Brighton and Ho...

Ah forget it!

 

[wingy]

Anyone able to summarise the last 24hrs and why there is so much scepticism about big Doug? All seems really positive to me but maybe I've missed something?

Doug is just like Sisu really,,,?

 

[Earlsdon_Skyblue1]

Why does King keep slipping into an Australian accent?

He sounds like me after a few beers.

 

[The Philosopher]

Timing and closeness to Sisu mostly, for me the fact that’s he’s talked at length about the arena and seems to know virtually nothing about the club and has no clear plans for it.

I’m still holding out hope that it’s a bit of extra investment to get us further forward this season and beyond as Joy ran out of cash, but I’d like to hear a lot more about how this will affect things on the pitch.

I think you’ve hit upon something with the running out of cash point.

If Joy knew that CCFC could be “aggressively taken over / distressed” by MA who was clearly going to buy the Arena and then (according to Twitter Piggy and credible posters on here) fully try to buy CCFC then admitting you are skint isn’t sensible.

Not being able to afford HMRC bills and panic selling Hyam means “we is skint”

By having a bouffant “wealthy new owner with 25 mil in hand” it may give the impression of “we don’t need to sell cheap”.

Is this smoke and mirrors and a ploy to sell CCFC to MA but not at a knockdown price?

Just thinking that if DK had really wanted to buy Arena he would have gone with the right LC / proof of funds and a solid business plan. Surely one could have been knocked up quickly. Was this a charade to not buy the Arena but show that we have a few quid - “so don’t bully us Mike”?

Thoughts?

 

[Bad Boy]

Anyone able to summarise the last 24hrs and why there is so much scepticism about big Doug? All seems really positive to me but maybe I've missed something?

Yes please, can any of our learned forumites explain to the likes of me (a retired thick telephone engineer) where we're at because I ain't got a clue.

 

[Nick]

Why does King keep slipping into an Australian accent?

He sounds like me after a few beers.

Yeah I did wonder, he doesn't sound like he's from Norfolk. Sounds Australian or something.

 

[Sick Boy]

Has the takeover had EFL approval yet?

 

[wingy]

I think you’ve hit upon something with the running out of cash point.

If Joy knew that CCFC could be “aggressively taken over / distressed” by MA who was clearly going to buy the Arena and then (according to Twitter Piggy and credible posters on here) fully try to buy CCFC then admitting you are skint isn’t sensible.

Not being able to afford HMRC bills and panic selling Hyam means “we is skint”

By having a bouffant “wealthy new owner with 25 mil in hand” it may give the impression of “we don’t need to sell cheap”

Thoughts?

What's your valuation now?
£30-£40M or £60+M??

 

[Skyblueweeman]

You don't find the timing at all coincidental? Even if he's genuine, it's a helluva time to take over!

Yeah, that's the thing. As @skybluetony176 says, if the 'takeover' would've happened much more earlier than 24hrs before the Arena purchase deadline, he would have more credence.

He would've known the deadlines - why leave it to the last minute with a lesser chance of success??

 

[The Philosopher]

What's your valuation now?
£30-£40M or £60+M??

Still the same:

£40-£50m for squad / goodwill / golden share but SISU need £60m to balance books.

DK has absorbed £50m debt to his portfolio, will service debt on it, the 15% represents the £5-10m that SISU will keep on their books - maybe wasn’t client funded.

Just speculation, which I why I ask for the opinion of others.

 

[Grendel]

Yeah, that's the thing. As @skybluetony176 says, if the 'takeover' would've happened much more earlier than 24hrs before the Arena purchase deadline, he would have more credence.

He would've known the deadlines - why leave it to the last minute with a lesser chance of success??

He’s a Sisu associate I assume his even worse hedge fund than Sisu is prepared to swallow some of the Avro fund

the Colemans own St Helens rugby league club together they must be brothers

 

[Grendel]

Still the same:

£40-£50m for squad / goodwill / golden share but SISU need £60m to balance books.

DK has absorbed £50m debt to his portfolio, will service debt on it, the 15% represents the £5-10m that SISU will keep on their books - maybe wasn’t client funded.

Just speculation, which I why I ask for the opinion of others.

utterly ridiculous

 

[The Philosopher]

DK’s key line “I’m a trader, if MA want to sell on to me what they’ve just purchased for a quick profit I’m here to talk”

Also means (I suggest)

“I’m a trader, if MA wants to buy from me what I’ve just purchased for a quick profit (?!?) I’m here to talk”

 

[Skyblueweeman]

He’s a Sisu associate I assume his even worse hedge fund than Sisu is prepared to swallow some of the Avro fund

the Colemans own St Helens rugby league club together they must be brothers

Do you think he was genuine with his £25m?

 

[wingy]

Do you think he was genuine with his £25m?

Most unlikely IMO.

 

[Malaka]

This idea that Ashley needs to buy the stadium to sway council opinion on planning permission for a major economic development elsewhere in, in the current economic environment, is just nonsense.

He's bought the stadium because he wanted to buy the stadium.

And build a hotel on Car Park C

 

[The Philosopher]

Maybe total red herring but what happened to Ray’s ProZone which was absorbed into CCFC valued at £6-£7m back in day?

 

[Deleted member 5849]

Maybe total red herring but what happened to Ray’s ProZone which was absorbed into CCFC valued at £6-£7m back in day?

Sold.

 

[Sick Boy]

Do you think he was genuine with his £25m?

No - I’d imagine they knew MA would have walked away and then they could pick it up cheaper.

 

[Nick]

He’s a Sisu associate I assume his even worse hedge fund than Sisu is prepared to swallow some of the Avro fund

the Colemans own St Helens rugby league club together they must be brothers

It's weird, he has literally said it's his brother and how they are linked but you are posting it a day later.

 

[itsabuzzard]

Bet he likes turkish delight the fucking monster.

A close second behind a Bounty.

Sent from my MAR-LX1A using Tapatalk

 

[skybluetony176]

Brighton and Ho...

Ah forget it!

VS and Rugby

 

[Skyblueweeman]

Has the takeover had EFL approval yet?

No one knows. I have a contact at the EFL so I've mailed him and asked if he knows how long it takes. Will post if I get a response.

 

[Nick]

No one knows. I have a contact at the EFL so I've mailed him and asked if he knows how long it takes. Will post if I get a response.

Probably wouldn't be done already if they only sorted the "deal" on Weds would it?

 

[Samo]

Timing and closeness to Sisu mostly, for me the fact that’s he’s talked at length about the arena and seems to know virtually nothing about the club and has no clear plans for it.

I’m still holding out hope that it’s a bit of extra investment to get us further forward this season and beyond as Joy ran out of cash, but I’d like to hear a lot more about how this will affect things on the pitch.

There have been obscure references to investment for some time now, including a few remarks made by MR. It fits with the Times article too. It is a shame it couldn't have been done sooner but I suppose it makes sense that they would get it over the line in time for a cheeky pitch for the stadium.

 

[Brighton Sky Blue]

He looks like if Keir Starmer had a love child with Mick Jagger

 

[Deleted member 5849]

No one knows. I have a contact at the EFL so I've mailed him and asked if he knows how long it takes. Will post if I get a response.

As long as it takes them to snort cocaine off a dwarf, engage in carnal delights with a lady of the night, and finish their Sainsbury's Club Sandwich, I'd reckon.

 

[Brighton Sky Blue]

As long as it takes them to snort cocaine off a dwarf, engage in carnal delights with a lady of the night, and finish their Sainsbury's Club Sandwich, I'd reckon.

Marks n Spencer coronation chicken I think

 

[wingy]

There have been obscure references to investment for some time now, including a few remarks made by MR. It fits with the Times article too. It is a shame it couldn't have been done sooner but I suppose it makes sense that they would get it over the line in time for a cheeky pitch for the stadium.

A cheeky pitch that was never going to run?