Doug King Takeover (14 Viewers)

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shmmeee

shmmeee

Well-Known Member
Esoterica said:
Who at the club could actually verify something like that and be worth verifying it with? All sounded to me like the only info he’s had is from Storey himself, who appears very much a self publicist and limelight lover, hence the willingness to be interviewed. Doug King has vanished, SISU won’t talk because of NDAs. We’ve had almost nothing from the club apart from what they want us to hear.
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I asked him that specifically. He said he’s double and triple checked it, said similar in the radio interview.

Sisu have released a statement saying it’s nonsense.
 
Telfer85

Telfer85

Well-Known Member
I mean I wouldn’t expect them to say much other than to deny it which they now have. They won’t to trip themselves up anymore 😂

cant see it doing anything other than delaying the deal but yet again more shit we don’t need going on.
 
S

steve cooper

Well-Known Member
This is all centred around one comment King made in an apparently off-the cuff statement in an interview. If sisu are correct that there is no truth in it, the whole thing should go away in the next few hours, I would think.
 
Paul Anthony

Paul Anthony

Well-Known Member
Hopefully sounds like it's just the Hagrid wannabe after a bit more publicity, then. Please, whatever God's there are, let that be true.
 
shmmeee

shmmeee

Well-Known Member
Can’t see why it would delay the takeover TBH. Surely the worst case result is Sisu paying compo for breach of contract? Could a court even demand the King deal is undone?
 
oldskyblue58

oldskyblue58

CCFC Finance Director
why is it anything SISU does cannot be done without legal challenges getting involved :rolleyes:

Not sure that Storey or his lawyers will get much traction from the EFL or courts

To do any deal with SISU the first thing they ask for is proof of funds - i assume this was done (not a betting slip but real bank confirmation)

That gets you to the negotiating table

Heads of terms are fine but have been proven in court time and again NOT to be legally binding.

Exclusivity periods have defined dates and are not open ended, they can be extended if both parties agree

the Storey exclusivity ran out on the 7th King deal announced 16th. Now i am not sure there is anything stopping King making contact before that and so long as SISU said no we cannot talk because of exclusivity agreement in place, (and didn't) .........then on the 8th they could. Is it possible to get a deal in that 7 days ready for the 16th? The problem for SISU is whether there is any evidence that they let the Storey deal die because of the King interest or in any way encouraged the King bid before 8th. The remedy if proven though would seem to be against SISU and most likely for the costs involved in the Storey bid, not the ownership of CCFC, because SISU were not acting in good faith.

I would think it will delay the EFL process as they will want to be sure, and given CCFC past history who could blame them but ultimately will not change it.

Just wondering if this is something that gives King the excuse to walk away, not sure it will. Not really for him to answer though really, he wasn't part of the Storey/SISU exclusivity agreement

The only thing that irks me other than that was the whining that went on because they were not allowed to bid for the stadium......... because of an exclusivity agreement. Somewhat disingenuous really.
 
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Telfer85

Telfer85

Well-Known Member
oldskyblue58 said:
why is it anything SISU does cannot be done without legal challenges getting involved

Not sure that Storey or his lawyers will get much traction from the EFL or courts

To do any deal with SISU the first thing they ask for is proof of funds - i assume this was done (not a betting slip but real bank confirmation)

That gets you to the negotiating table

Heads of terms are fine but have been proven in court time and again NOT to be legally binding.

Exclusivity periods have defined dates and are not open ended, they can be extended if both parties agree

the Storey exclusivity ran out on the 7th King deal announced 16th. Now i am not sure there is anything stopping King making contact before that and so long as SISU said no we cannot talk because of exclusivity agreement in place, (and didn't) .........then on the 8th they could. Is it possible to get a deal in that 7 days ready for the 16th? The problem for SISU is whether there is any evidence that they let the Storey deal die because of the King interest. The remedy if proven though would seem to be against SISU and most likely for the costs involved in the bid not the ownership of CCFC because SISU were not acting in good faith.

I would think it will delay the EFL process as they will want to be sure, and given CCFC past history who could blame them but ultimately will not change it.

Just wondering if this is something that gives King the excuse to walk away, not sure it will. Not really for him to answer though really, he wasn't part of the Storey/SISU exclusivity agreement

The only thing that irks me other than that was the whining that went on because they were not allowed to bid for the stadium......... because of an exclusivity agreement. Somewhat disingenuous really.
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A good analysis. I agree efl would want to be sure the deal couldn’t be overturned by a court. If this is easy enough to prove or Sisu have clear evidence contrary to the allegations by storey I imagine it shouldn’t hold it up too much.

However, if a court could rule Sisu deliberately held up the deal to sell to king cos it was better for them and they have to proceed with terms agreed with storey then that’s a different ball game and the efl I imagine would have to let it play out before ratifying anything.

This would be bad for us moving towards jan transfer window.
 
SkyblueDad

SkyblueDad

Well-Known Member
oldskyblue58 said:
why is it anything SISU does cannot be done without legal challenges getting involved

Not sure that Storey or his lawyers will get much traction from the EFL or courts

To do any deal with SISU the first thing they ask for is proof of funds - i assume this was done (not a betting slip but real bank confirmation)

That gets you to the negotiating table

Heads of terms are fine but have been proven time and again NOT to be legally binding.

Exclusivity periods have defined dates and are not open ended, they can be extended if both parties agree

the Storey exclusivity ran out on the 7th King deal announced 16th. Now i am not sure there is anything stopping King making contact before that and so long as SISU said no we cannot talk because of exclusivity agreement in place, (and didn't) .........then on the 8th they could. Is it possible to get a deal in that 7 days ready for the 16th? The problem for SISU is whether there is any evidence that they let the Storey deal die because of the King interest. The remedy if proven though would seem to be against SISU and most likely for the costs involved in the bid not the ownership of CCFC

I would think it will delay the EFL process as they will want to be sure, and given CCFC past history who could blame them but ultimately will not change it.

Just wondering if this is something that gives King the excuse to walk away, not sure it will. Not really for him to answer though really, he wasn't part of the Storey/SISU exclusivity agreement
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Been said on here earlier Doug King has instructed his legal team to stop talking to the EFL, if true why would he do that.
 
oldskyblue58

oldskyblue58

CCFC Finance Director
Telfer85 said:
A good analysis. I agree efl would want to be sure the deal couldn’t be overturned by a court. If this is easy enough to prove or Sisu have clear evidence contrary to the allegations by storey I imagine it shouldn’t hold it up too much.

However, if a court could rule Sisu deliberately held up the deal to sell to king cos it was better for them and they have to proceed with terms agreed with storey then that’s a different ball game and the efl I imagine would have to let it play out before ratifying anything.

This would be bad for us moving towards jan transfer window.
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Not sure a court could force SISU to proceed with the Storey deal that was only agreed in Heads of Terms. No contracts had been exchanged or even finalised it would seem to me so i cannot see that the sale terms were binding, it was only the exclusivity period that was
 
J

JonesBob

Well-Known Member
Is this situation where Doug King is acquiring 85% control of the company classified as a takeover? SISU are still, to my knowledge, a junior partner with 15% of the company.
 
Sky Blue Pete

Sky Blue Pete

Well-Known Member
oldskyblue58 said:
why is it anything SISU does cannot be done without legal challenges getting involved :rolleyes:

Not sure that Storey or his lawyers will get much traction from the EFL or courts

To do any deal with SISU the first thing they ask for is proof of funds - i assume this was done (not a betting slip but real bank confirmation)

That gets you to the negotiating table

Heads of terms are fine but have been proven in court time and again NOT to be legally binding.

Exclusivity periods have defined dates and are not open ended, they can be extended if both parties agree

the Storey exclusivity ran out on the 7th King deal announced 16th. Now i am not sure there is anything stopping King making contact before that and so long as SISU said no we cannot talk because of exclusivity agreement in place, (and didn't) .........then on the 8th they could. Is it possible to get a deal in that 7 days ready for the 16th? The problem for SISU is whether there is any evidence that they let the Storey deal die because of the King interest or in any way encouraged the King bid before 8th. The remedy if proven though would seem to be against SISU and most likely for the costs involved in the Storey bid, not the ownership of CCFC, because SISU were not acting in good faith.

I would think it will delay the EFL process as they will want to be sure, and given CCFC past history who could blame them but ultimately will not change it.

Just wondering if this is something that gives King the excuse to walk away, not sure it will. Not really for him to answer though really, he wasn't part of the Storey/SISU exclusivity agreement

The only thing that irks me other than that was the whining that went on because they were not allowed to bid for the stadium......... because of an exclusivity agreement. Somewhat disingenuous really.
Click to expand...
King hasn’t suggested at any time he’s going to step away that’s just sbt bollocks isn’t it
 
hill83

hill83

Well-Known Member
AFCCOVENTRY said:
Did I hear right that Gilbert said King has instructed his lawyers to stop talks with the EFL?
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Here we go.

hill83 said:
I was thinking more along the lines of a conspiracy theory that he doesn't want the club now he hasn't got the ground, so will go in and shit on their desk or something.
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Get someone else to shit on the desk.

Edit: Or not, I’ve read further on now. AFCCOVENTRY you plonker. Cheers.
 
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oldskyblue58

oldskyblue58

CCFC Finance Director
Sky Blue Pete said:
King hasn’t suggested at any time he’s going to step away that’s just sbt bollocks isn’t it
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I haven't seen anything that suggests he would, just pointing to a possible event. Personally I think the deal is done and just waiting on EFL. As to whether he makes a difference or is any good as an owner I will wait see what happens....... has said all the right sound bites but I will judge him on actions not the fine words
 
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