SkyblueBazza
Well-Known Member
Well - I think we are all guilty of the same...I think referring to others takin sides is unhelpful though - & there are many that do that. On here I think (maybe naively) that we are all on the same side - CCFC
Preston Haskell IV to buy Alan Higgs charity. (9 Viewers)
- Thread starter CovFan
- Start date
Well - I think we are all guilty of the same...I think referring to others takin sides is unhelpful though - & there are many that do that. On here I think (maybe naively) that we are all on the same side - CCFC
bamalamafizzfazz
New Member
US multimillionaire Preston Haskell agrees US multimillionaire Preston Haskell agrees Ricoh Arena deal as he prepares Coventry Ricoh Arena deal as he prepares Coventry City takeover. #CCFC #LUFC City takeover. #CCFC #LUFC An American multimillionaire has agreed a An American multimillionaire has agreed a deal to purchase a half share of Coventry deal to purchase a half share of Coventry City's stadium with a view to buying the City's stadium with a view to buying the League One club out of an impending League One club out of an impending administration. Preston Haskell has promised administration. Preston Haskell has promised to invest heavily in Coventry's playing squad to invest heavily in Coventry's playing squad and overhaul the club's operations as a and overhaul the club's operations as a means of ending more than decade long means of ending more than decade long absence from England's top tier. absence from England's top tier.
Haskell's plans for Coventry include the Haskell's plans for Coventry include the return of suspended life president Joe Elliott return of suspended life president Joe Elliott as chairman. He also intends to bring The Sky as chairman. He also intends to bring The Sky Blue Trust onto a restructured board by Blue Trust onto a restructured board by offering the supporters trust a 20% stake in offering the supporters trust a 20% stake in their club. their club.
The Ricoh Arena is currently joint owned by The Ricoh Arena is currently joint owned by the city council and The Alan Edward Higgs the city council and The Alan Edward Higgs Charity. Haskell has agreed to buy the latter Charity. Haskell has agreed to buy the latter group's share in Arena Coventry Limited on group's share in Arena Coventry Limited on condition that its management is handed to condition that its management is handed to him and he is allowed to bring Coventry City him and he is allowed to bring Coventry City out of an administration process initiated last out of an administration process initiated last week. week.
"What I want is to see Coventry City back "What I want is to see Coventry City back where it belongs at the top level of the where it belongs at the top level of the English game,” Haskell told The Sunday English game,” Haskell told The Sunday Times. “To return this club back to the Times. “To return this club back to the Premier League will take investment in the Premier League will take investment in the team and a proper management structure, team and a proper management structure, both of which I can provide. both of which I can provide.
"Coventry has a fantastic fan base - over "Coventry has a fantastic fan base - over 30,000 attended a Johnstone' Paint Trophy 30,000 attended a Johnstone' Paint Trophy game this season - and I want to bring that game this season - and I want to bring that support back into the club by inviting the support back into the club by inviting the supporters trust to take 20% of its shares. I supporters trust to take 20% of its shares. I also want to bring Joe Elliott back as also want to bring Joe Elliott back as Coventry's chairman. He's a man who bleeds Coventry's chairman. He's a man who bleeds Sky Blue and who is furious about what the Sky Blue and who is furious about what the current owners have done to his club. current owners have done to his club.
"I have an agreement in principle to purchase "I have an agreement in principle to purchase the Higgs Trust 50% share of the Ricoh and the Higgs Trust 50% share of the Ricoh and take over its management. The agreement is take over its management. The agreement is on condition that I am allowed to purchase on condition that I am allowed to purchase Coventry City once the administration Coventry City once the administration process is completed.” process is completed.”
ACL is seeking administration of the football ACL is seeking administration of the football club over £1.3m unpaid rent to force a club over £1.3m unpaid rent to force a change of ownership. On Thursday the change of ownership. On Thursday the Mayfair-based hedge fund Sisu Capital placed Mayfair-based hedge fund Sisu Capital placed the club's “non-operating subsidiary” the club's “non-operating subsidiary” Coventry City Football Club Limited into Coventry City Football Club Limited into voluntary administration. Sisu then moved voluntary administration. Sisu then moved Coventry's staff out of the Ricoh Arena and Coventry's staff out of the Ricoh Arena and are preparing to play home games are preparing to play home games elsewhere. elsewhere.
Sisu bought Coventry in 2007 when it was a Sisu bought Coventry in 2007 when it was a Championship side and the club was Championship side and the club was relegated last season amidst supporter relegated last season amidst supporter discontent at its management. The hedge discontent at its management. The hedge fund is run by Joy Seppala, whose career fund is run by Joy Seppala, whose career includes a stint at disgraced US banking firm includes a stint at disgraced US banking firm Drexel Burnham Lambert.
Haskell's plans for Coventry include the Haskell's plans for Coventry include the return of suspended life president Joe Elliott return of suspended life president Joe Elliott as chairman. He also intends to bring The Sky as chairman. He also intends to bring The Sky Blue Trust onto a restructured board by Blue Trust onto a restructured board by offering the supporters trust a 20% stake in offering the supporters trust a 20% stake in their club. their club.
The Ricoh Arena is currently joint owned by The Ricoh Arena is currently joint owned by the city council and The Alan Edward Higgs the city council and The Alan Edward Higgs Charity. Haskell has agreed to buy the latter Charity. Haskell has agreed to buy the latter group's share in Arena Coventry Limited on group's share in Arena Coventry Limited on condition that its management is handed to condition that its management is handed to him and he is allowed to bring Coventry City him and he is allowed to bring Coventry City out of an administration process initiated last out of an administration process initiated last week. week.
"What I want is to see Coventry City back "What I want is to see Coventry City back where it belongs at the top level of the where it belongs at the top level of the English game,” Haskell told The Sunday English game,” Haskell told The Sunday Times. “To return this club back to the Times. “To return this club back to the Premier League will take investment in the Premier League will take investment in the team and a proper management structure, team and a proper management structure, both of which I can provide. both of which I can provide.
"Coventry has a fantastic fan base - over "Coventry has a fantastic fan base - over 30,000 attended a Johnstone' Paint Trophy 30,000 attended a Johnstone' Paint Trophy game this season - and I want to bring that game this season - and I want to bring that support back into the club by inviting the support back into the club by inviting the supporters trust to take 20% of its shares. I supporters trust to take 20% of its shares. I also want to bring Joe Elliott back as also want to bring Joe Elliott back as Coventry's chairman. He's a man who bleeds Coventry's chairman. He's a man who bleeds Sky Blue and who is furious about what the Sky Blue and who is furious about what the current owners have done to his club. current owners have done to his club.
"I have an agreement in principle to purchase "I have an agreement in principle to purchase the Higgs Trust 50% share of the Ricoh and the Higgs Trust 50% share of the Ricoh and take over its management. The agreement is take over its management. The agreement is on condition that I am allowed to purchase on condition that I am allowed to purchase Coventry City once the administration Coventry City once the administration process is completed.” process is completed.”
ACL is seeking administration of the football ACL is seeking administration of the football club over £1.3m unpaid rent to force a club over £1.3m unpaid rent to force a change of ownership. On Thursday the change of ownership. On Thursday the Mayfair-based hedge fund Sisu Capital placed Mayfair-based hedge fund Sisu Capital placed the club's “non-operating subsidiary” the club's “non-operating subsidiary” Coventry City Football Club Limited into Coventry City Football Club Limited into voluntary administration. Sisu then moved voluntary administration. Sisu then moved Coventry's staff out of the Ricoh Arena and Coventry's staff out of the Ricoh Arena and are preparing to play home games are preparing to play home games elsewhere. elsewhere.
Sisu bought Coventry in 2007 when it was a Sisu bought Coventry in 2007 when it was a Championship side and the club was Championship side and the club was relegated last season amidst supporter relegated last season amidst supporter discontent at its management. The hedge discontent at its management. The hedge fund is run by Joy Seppala, whose career fund is run by Joy Seppala, whose career includes a stint at disgraced US banking firm includes a stint at disgraced US banking firm Drexel Burnham Lambert.
ccfc92
Well-Known Member
bamalamafizzfazz
New Member
Why after copying and pasting does this article read so stupid?
SkyblueBazza
Well-Known Member
torchomatic
Well-Known Member
I'm confused here. Can anyone quote exactly what PWKH and the administrator said yesterday. I got the impression, well not the impression at all; I thought PWKH dismissed this guy out of hand.
covmark
Well-Known Member
Hahaha quality
bamalamafizzfazz
New Member
"I have an agreement in principle to purchase the Higgs Trust 50% share of the Ricoh and take over its management. The agreement is on condition that I am allowed to purchase Coventry City once the administration process is completed.”
BOOOOOM!!!!
Can't say much clearer than that. A man can dream :facepalm:
BOOOOOM!!!!
Can't say much clearer than that. A man can dream :facepalm:
CJparker
New Member
No , I haven't stated that I want the club to be wound up. You are a liar!! Stop lying about me. Post ones of my comments that proves that.
I have said repeatedly that ACL/CCC shoud move towards a winding up order and press on with it, but I have never said that I want them to go all the way with it. Stop fucking putting words into my mouth.
SISU are not CCFC and never will be. Your attitude is like a Blackburn fan blindingly and slavishly supporting Venky's.
ccfctommy
Well-Known Member
The fit and proper persons test is useless. Robert Mugabe can pass the fit and proper persons test.
DazzleTommyDazzle
Well-Known Member
Whether any of this is true, I have no idea, but as the poster above suggests, the way to do it would be to have a conditional contract.
All pretty standard stuff and much better than buying the club and only then starting negotiations on the stadium.
torchomatic
Well-Known Member
Calm down. I am not putting words into your mouth. I haven't dreamt it, I've read the words and so have many others.
torchomatic
Well-Known Member
What worries me though is that ACL will be so desperate that any new owner is simply not SISU will lead to more problems for us in the future.
Wrenstreetcarpark
New Member
what he said was:
I have heard the rumours about the sale of the Charity’s shares to Preston Haskell IV. Although we know that he is one of the parties interested in such a purchase, and I have met him at a football match, there is no truth in the rumour. The Charity, as with everyone else looks forward to a time when the ownership of the Club and the stadium is united under owners who can give the Football Club a sustainable future and continue the regeneration of north east Coventry with further development at the Ricoh Arena.
torchomatic
Well-Known Member
percy
Member
i think he is doing this the right way round. you wouldnt go anywhere near the football club without assurances about the ricoh. i mean, look where we are now
CJparker
New Member
Well go on then, post them here or admit that you are a liar
As well as lying about me, you have also been very underhand. You previuiously quoted a comment of mine as "proof" I want the club to fold, whilst editing out a sentence I had specifically added and I quote "I do not want the club to fold"
Your problem is that you equate forcing SISU out with the club folding. You say I want the club to fold because you think that is the inevitable consequence of SISU being forced out. You are wrong to make such assumptions.
Apology please.
Brighton Sky Blue
Well-Known Member
You did explicitly state you wanted ACL to 'press on with the winding up order'. One realistic consequence of this is the club being liquidated-do you not agree there?
torchomatic
Well-Known Member
Baginton
New Member
it just smacks of a desperate sale to the first rich person to come along, ANYONE BUT SISU, another tit for tat move, people fucking with our club, without the fans there is no income so thereofre no club, yet we are the last people on any of these peoples minds.
this is not the way or time to be talking of such matters imo.
this is not the way or time to be talking of such matters imo.
torchomatic
Well-Known Member
Yes, it would be nice to have a choice of investors this time around. I presume ACL have learnt their lesson from last time too.
it just smacks of a desperate sale to the first rich person to come along, ANYONE BUT SISU, another tit for tat move, people fucking with our club, without the fans there is no income so thereofre no club, yet we are the last people on any of these peoples minds.
this is not the way or time to be talking of such matters imo.
Brighton Sky Blue
Well-Known Member
Back to the original story for a minute-if anyone would be in a position to comment on something Higgs related it would be PWKH. If he's heard of nothing concrete from Haskell then we have to assume he's yet to put anything forward.
Sick Boy
Super Moderator
"If SISU do anything to resist administration at the hearing next week, it is essential that ACL immediately apply for a winding up order and simultaneously evict CCFC from the Ricoh. Make it clear there will be no fannying round, make it clear that SISU have run out of road and that it's ACL's way or the highway." - CJParker
torchomatic
Well-Known Member
Brighton Sky Blue
Well-Known Member
I wouldn't be surprised if the club's current state will draw interest from people wanting a club on the cheap-but that none have come forth with a concrete offer or declaration of interest (I don't take the Times article as the latter), even with the immediate future of the club in doubt, speaks volumes.
torchomatic
Well-Known Member
I don't understand his denials and his f'ing and blinding and apology demanding.
Brighton Sky Blue
Well-Known Member
He's said he didn't explicitly say 'I want the club wound up'-this is correct. What I don't think he accepts is that wanting ACL to 'press on with the winding up order' is more or less tantamount.
CJparker
New Member
No I do not accept that it is tantamount - I have never made that assumption as I work on the basis that other investors exist who will take over. SISU will not go without a fight - they have to be forced out. How else to we force them out other than every legal mechanism at our disposal?
Still waiting for that apology. It is totally unreasonable assumption to equate my "I do not want the club to fold" with "CJ you want the club to fold"
In fact, it is disingenuous too. People on here are attacking my motives because they have no pro-SISU counter-argument to put instead. They are trying to invalidate my very valid points which end in the unarguable position that SISU need to leave.
Still waiting for that apology. It is totally unreasonable assumption to equate my "I do not want the club to fold" with "CJ you want the club to fold"
In fact, it is disingenuous too. People on here are attacking my motives because they have no pro-SISU counter-argument to put instead. They are trying to invalidate my very valid points which end in the unarguable position that SISU need to leave.
DazzleTommyDazzle
Well-Known Member
I thought that ACL were trying to get the club put into administration. A "winding up order" suggests liquidation, which is something quite different.
Sick Boy
Super Moderator
Which is what Parker was wanting, as well as locking the club out of the Ricoh.
CJparker
New Member
Correct - because it will pressure SISU into walking. Then again, perhaps we should just ask them nicely and they will leave?
Asking for a winding up petition to be brought forward is not the same as wanting the club to fold, because SISU will back down before the hearing. God, do I really have to spell it out???
DazzleTommyDazzle
Well-Known Member
Sorry I'm getting confused here.
So he didn't want ACL to "press on" with their existing action (which is for administration) but instead wanted them to start an action to liquidate the club.
Is that correct?
DazzleTommyDazzle
Well-Known Member
Now clarified.