Anyone Bought Us Yet? (1 Viewer)

torchomatic · May 17, 2013

Just wondering.

The Penguin · May 17, 2013

It's alright, my wife has given me approval to sell our house to fund my takeover bid.

I told her not to be silly.

The club's not worth that much

italiahorse · May 17, 2013

Would you make a bid on something with a value only SISU know.

Unless you were SISU of course.

- Lets say the the part up on offer has 60M of debt and no players or golden share.
- No one would bid on it accept SISU.
- SISU bid £10
- No other offers so deal done.
- SISU £60M debt wiped out.

dongonzalos · May 17, 2013

I am still gob smacked people are registering a bid.

I had it categorically explained on numerous occasions anyone who thinks someone would be interested in CCFC are 'delusional' and needed to 'smell the coffee'. There is no one else, no one will ever bid!

Now this miracle someone has put a bid in.....

Still can't quite get my head around it.

kg82 · May 17, 2013

I don't really know how this works, but if the club is in administration, and it turns out that the part of the club that IS in administration is the vital bit, do SISU get to dictate the price of that anymore?

The Penguin · May 17, 2013

dongonzalos said:
I had it categorically explained on numerous occasions anyone who thinks someone would be interested in CCFC are 'delusional' and needed to 'smell the coffee'. There is no one else, no one will ever bid!

It's called "making a statement using the available evidence and not just posting dribble that you thought of".

It's great that Haskell has made a bid and is interested, I'm sure the majority of us are really pleased and hope he is successful, but let's not pretend that we all knew this was going to happen, yeah?

lordsummerisle · May 17, 2013

The Penguin said:
It's called "making a statement using the available evidence and not just posting dribble that you thought of".

It's great that Haskell has made a bid and is interested, I'm sure the majority of us are really pleased and hope he is successful, but let's not pretend that we all knew this was going to happen, yeah?

He hasn't actually made a bid yet though has he?

Only under certain(well justified) caveats would he make one I think, and those caveats not yet been satisfied I'd have thought.

dongonzalos · May 17, 2013

The Penguin said:
It's called "making a statement using the available evidence and not just posting dribble that you thought of".

It's great that Haskell has made a bid and is interested, I'm sure the majority of us are really pleased and hope he is successful, but let's not pretend that we all knew this was going to happen, yeah?

Calling people delusional and telling them they need to smell the coffee

Telling them no one will ever bid for CCFC.

When someone had already bid previously.

If CCFC was going to go to the wall, whilst the Ricoh is in the mix someone would always come in.

It is and has never been that no one is interested our current owners have an agenda and that doesn't include people coming in and clearing some of their investment.

So no it's not a case of knowing it was always going to happen just a case of not knowing it never would as some stated pretty much as fact whilst mocking others with hope....

The Penguin · May 17, 2013

lordsummerisle said:
He hasn't actually made a bid yet though has he?

Only under certain(well justified) caveats would he make one I think, and those caveats not yet been satisfied I'd have thought.

I thought he had made a conditional one? I might be mistaken, it was early this morning when I read it on Twitter.

I'm skeptical as to whether those caveats will ever be satisfied to be honest.

dongonzalos · May 17, 2013

1 day ago – Coventry City's prospective owners confirm a takeover bid has been made by a consortium ... Life president Joe Elliott, who is fronting the Haskell consortium, told BBC ...

The Penguin · May 17, 2013

dongonzalos said:
If CCFC was going to go to the wall, whilst the Ricoh is in thd mix someone would always come in.

It is and has never been that no one is interested our current owners have an agenda and that doesn't include people coming in and clearing some of their investment.

So no it's not a case of knowing it was always going to happen just a case of not knowing it never would ax some stated.....

Yeah, saying IT WILL NEVER HAPPEN is just as silly as PEOPLE WANT US WE WILL BE BOUGHT when there is no evidence of either.

At least now there is evidence that somebody is vaguely interested in the club.

lordsummerisle · May 17, 2013

dongonzalos said:
1 day ago – Coventry City's prospective owners confirm a takeover bid has been made by a consortium ... Life president Joe Elliott, who is fronting the Haskell consortium, told BBC ...

You missed out the reasons why it's not a "bid" as such yet though:

"The success of their move hinges on administrator Paul Appleton’s ruling on the location of the elusive golden share, the club’s licence to operate.
Haskell is banking on the share being held by Coventry City FC Limited, the business currently in administration, and he has made an offer to Appleton to purchase the club on that basis.
The takeover team has also tabled a bid for the Higgs Charity’s half of the Ricoh Arena, which will only go through if they get the football club, and say they are set to enter a period of due diligence."

dongonzalos · May 17, 2013

The Penguin said:
Yeah, saying IT WILL NEVER HAPPEN is just as silly as PEOPLE WANT US WE WILL BE BOUGHT when there is no evidence of either.

At least now there is evidence that somebody is vaguely interested in the club.

I agree, however there was some evidence before as well a previous bid.

Also as it now transpired ( granted not known at thd time another bid as well)

dongonzalos · May 17, 2013

lordsummerisle said:
You missed out the reasons why it's not a "bid" as such yet though:

"The success of their move hinges on administrator Paul Appleton’s ruling on the location of the elusive golden share, the club’s licence to operate.
Haskell is banking on the share being held by Coventry City FC Limited, the business currently in administration, and he has made an offer to Appleton to purchase the club on that basis.
The takeover team has also tabled a bid for the Higgs Charity’s half of the Ricoh Arena, which will only go through if they get the football club, and say they are set to enter a period of due diligence."

It is a bid with caveats, definitely.

However from previous mocking of those who thought SISU are not the only show in town.

You can see why even a bid with caveats is amazing.

Grendel · May 17, 2013

dongonzalos said:
It is a bid with caveats, definitely.

However from previous mocking of those who thought SISU are not the only show in town.

You can see why even a bid with caveats is amazing.

He hasn't made a bid. If he is serious he should lodge a bid for the share from the f a.

dongonzalos · May 17, 2013

Grendel said:
He hasn't made a bid. If he is serious he should lodge a bid for the share from the f a.

Is that possible?

savosdad · May 17, 2013

Its all pie in the sky bullshit by all involved

The Penguin · May 17, 2013

dongonzalos said:
Is that possible?

Apparently, yes it is.

Pretty sure I have read on a few occasions that in administration, control of the share reverts to the FA/Football League.

stupot07 · May 17, 2013

The Penguin said:
Apparently, yes it is.

Pretty sure I have read on a few occasions that in administration, control of the share reverts to the FA/Football League.

It would be in the balance if that happens. Does the FA award the golden share to the company that owns the lease to play at the Ricoh or the company that holds players contracts and possible the academy?

dongonzalos · May 17, 2013

The Penguin said:
Apparently, yes it is.

Pretty sure I have read on a few occasions that in administration, control of the share reverts to the FA/Football League.

It has reverted to them yes.
However surely you can't bid to them directly?

The Penguin · May 17, 2013

dongonzalos said:
It has reverted to them yes.
However surely you can't bid to them directly?

I can't tell you. I don't know of any occasion where somebody has tried!

dadgad · May 17, 2013

This is important. If the Football League do the right thing they should release the GS to those who have the best interests of the club going forward.
They have an obligation under "fit and proper" etc to consider the full implications of making the wrong decision

skybluearmy88 · May 17, 2013

The Penguin said:
Apparently, yes it is.

Pretty sure I have read on a few occasions that in administration, control of the share reverts to the FA/Football League.

So surely in effect, Haskell could start his own ccfc based company, obtain the share from the football league and agree to play at the Ricoh and all that sisu would be left with is masses of debt and a load of players? I really hope that I live to see the day that sisu go out of business completely. That will be a good day.

Grendel · May 17, 2013

dongonzalos said:
Is that possible?

Yes they must believe the club is in administration so have the share. A bidder could ask them and show they are genuine.

Sisu then would have to take the f a to court.

He hasn't so there is no bid.

dongonzalos · May 17, 2013

Grendel said:
Yes they must believe the club is in administration so have the share. A bidder could ask them and show they are genuine.

Sisu then would have to take the f a to court.

He hasn't so there is no bid.

I am aware the FA are holding the golden share whilst the administration process is in place.

However surely you still bid to the administrator as oppose to directly to the FA?

The Penguin · May 17, 2013

Logically, I would think that in order to convince the FA/FL of his intentions, Haskell would need to show proof of funds, would need to prove that he could put a squad together, and show that he had either agreed, or was in the process of agreeing, a ground to play at.

So even if this was a realistic path for a new prospective owner (and I don't personally think it is) it would take a hell of a lot of work.

All speculation though as I don't even know if it's possible to do this.

dongonzalos · May 17, 2013

dongonzalos said:
It has reverted to them yes.
However surely you can't bid to them directly?

That's what I am saying to Grendel Mr Haskell has done what he has to, bid for the company that owns the golden share. Even though the FA hold it whilst the administration process goes through.

SonofErnie · May 17, 2013

Surely the question of who owns the golden share is a red herring. CCFC holdings indisputably hold the brand rights for Coventry City, therefore you can obtain the golden share but you won't have the right to call your football team Coventry City. Or am I missing something ?

Sky Blue Kid · May 17, 2013

skybluearmy88 said:
So surely in effect, Haskell could start his own ccfc based company, obtain the share from the football league and agree to play at the Ricoh and all that sisu would be left with is masses of debt and a load of players? I really hope that I live to see the day that sisu go out of business completely. That will be a good day.

My sentiments exactly mate.........
Surely PH4 can buy the share in the Ricoh, if GS is in CCFC ltd, it would be he who has rights to play in the FL and not SISU. Therefore offering SISU a figure for player contracts and take total charge of the Club?. BUT, This is CCFC. and nothing is straight forward for us!

The Penguin · May 17, 2013

SonofErnie said:
Surely the question of who owns the golden share is a red herring. CCFC holdings indisputably hold the brand rights for Coventry City, therefore you can obtain the golden share but you won't have the right to call your football team Coventry City. Or am I missing something ?

I think that is correct.

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