Apparently an offer still on the table for the club (4 Viewers)
- Thread starter Nick
- Start date
Nick
Administrator
It's almost as if I called exactly what was happening but again got told was paranoid
If it works then it would be good but if I can figure out exactly what the planning was I am pretty sure SISU would have.
Let's hope the distressing of CCFC by Wasps and Co ends up with a happy ending!
oldskyblue58
CCFC Finance Director
Then they need to rethink the amount because due to what is going on the value of any deal is greatly devalued if you ask me. If SISU are keen to get out then you dont pay over the odds
shmmeee
Well-Known Member
Well the offer has already been rejected. So saying it’s still on the table is basically expecting a reduced price as otherwise why leave a rejected offer on the table?
HuckerbyDublinWhelan
Well-Known Member
I’m calling it.. Dale Evans to have been a mystery player in the Irish euro millions consortium and is still part of the Hoffman Consortium
covcity4life
Well-Known Member
7m prob with add ons that might never happen
fernandopartridge
Well-Known Member
Yes, like i said when it was made the first time. It fulfils the 'get rid of SISU' objective but otherwise seems fairly reckless from a commercial point of view
shmmeee
Well-Known Member
It’s a terrible offer, headed by an incompetent and seemingly rather stupid person.
The offer itself is the least of my worries when we’d be run by someone taken in by Dale Evans.
Nick
Administrator
Are you having a sponsored naive day?
Wasps refuse to do a deal, potentially sends the club bust. In steps Hoffman who happens to already have a deal agreed with Wasps...
It would be very good if it works and I will be the first to eat humble pie but it would be naive to think that SISU wouldn't have seen it coming as well like they did last time with Haskell.
Please note, I did call Hoffman rising from the shadows a few weeks ago. That's how obvious it is.
Captain Dart
Well-Known Member
£7m plus add ons. Some likely to bear fruit the most potentially lucrative highly speculative and unlikely.
Breaking: New £20million bid to buy Coventry City FC
Not sure but I think some of the £7m may relate to SISU keeping Ryton.
Breaking: New £20million bid to buy Coventry City FC
Not sure but I think some of the £7m may relate to SISU keeping Ryton.
oldskyblue58
CCFC Finance Director
they could just leave it at the same value, just because it was rejected last time doesnt automatically devalue it.
Personally I wouldnt go above £4m including Ryton for the football assets less football liabilities. Certainly would never buy the company OEG or take part ownership of OEG
shmmeee
Well-Known Member
Mate I dipped out of all this for a year or so, my naivety is very much genuine and free of charge.
I don’t get why Sisu would sell? And why to Hoffman?
Surely they’re more likely to wind us up and sell Ryton for housing?
Personally I don’t think it’s be good if it works. I think it’d leave us with a group of fans treating the club as their own personal plaything and a useless chairman tied into shitty future payments. And still at a ground we can’t afford.
skybluesam66
Well-Known Member
The fly in the ointment may be Callum Wilson
that potential deal alone could be bigger than a bid for the club
shmmeee
Well-Known Member
Could Sisu sell that to Bournemouth cheap if they wanted to wind up the club?
Nick
Administrator
CCFC are being discussed at Westminster today
The never ending court story
Just the 2 I could find pointing it out
The never ending court story
Just the 2 I could find pointing it out
Nick
Administrator
I don't think they would, I am just pointing out that it seems to be the plan from others and has been obvious for a while.
Thats why I said is it another thing along the lines of Haskell which also backfired.
It also makes sense why CJ says that talks with Wasps had to be secret and shrouded with NDA's. That way SISU can't use them in court....
I would be more than happy if CJ wants to correct me.
Liquid Gold
Well-Known Member
Love it to come through but don't see it. In fact I see this as being more likely that no pressure gets put on other sides to get a deal done leading to us being kicked out of the league while people shout "SELL UP SISU"
oldskyblue58
CCFC Finance Director
depends on what SISU's intentions are.
You could do a deal to give them part of that but if serious the consortium has to play hard ball not give it away. It is not buy at any price
By the time he gets sold it could be all over in any case and any old deal dies with the club
Forever_Blue
Well-Known Member
God you’re annoying
Forever_Blue
Well-Known Member
Could the consortium not cover that potential future deal, I mean it’s pretty certain Wilson will leave Bournemouth at some point?
covmark
Well-Known Member
fernandopartridge
Well-Known Member
Could you purchase that debt as an asset? You'd have to negotiate a settlement for it presumably, quite risky really.
clint van damme
Well-Known Member
I think they actually want more which just adds to the absurdity of the whole situation.
Liquid Gold
Well-Known Member
But selling at £7m would result in them having to realise losses of £53m or so instead of letting it sit on their balance sheet somewhere and potentially using it to offset profits elsewhere for tax purposes. I can't see them doing it.
oldskyblue58
CCFC Finance Director
I dont think anyone should purchase the debt baggage ie ARVO or SISU Master Fund Loans. You wouldnt buy the company because of the £60m preference shares it carries. There is zero need to buy SBS&L so those loans in that company are irrelevant
You would buy the assets, players contracts, Ryton, Fixtures & Fittings trademark, etc then deduct the football creditors thats player contracts, League fees etc. to comply with league rules. Rent arrangements and other operating contracts pick and choose or have new ones
This is fast becoming a purchase of assets from a distressed company (should it get that far) so i think you would try apply a discount to the assets. Player contracts are generally 2 years long and part spent in terms of that time. Certain players may have a market value but a lot are unproven, even out of contract or loans
You would buy the assets, players contracts, Ryton, Fixtures & Fittings trademark, etc then deduct the football creditors thats player contracts, League fees etc. to comply with league rules. Rent arrangements and other operating contracts pick and choose or have new ones
This is fast becoming a purchase of assets from a distressed company (should it get that far) so i think you would try apply a discount to the assets. Player contracts are generally 2 years long and part spent in terms of that time. Certain players may have a market value but a lot are unproven, even out of contract or loans
Nick
Administrator
The thing is, people lost their shit about ACL being distressed but don't seem that bothered about CCFC being distressed for the same reason.
Can anybody see SISU letting somebody else get the better of them at their own game?
Like I have been saying for weeks, amazing if it works but I can't see them being taken by surprise by it and will have something up their sleeve. My worry is what that is.
SkyBlueCRJ
Well-Known Member
Wouldn't it be difficult to base a deal on something that may or may not happen though? I agree he probably will go but surely a consortium wouldn't put all their eggs in one basket with that one?
oldskyblue58
CCFC Finance Director
Not sure where you get £53m from?
Losses are what SISU have been known to trade in so perhaps they are able to offset against other gains and get tax back?
If they sold for 7m that wouldnt cover the capital element on what is owed to ARVO. Based on accounts to 31/05/2017 Losses that are potentially available from this are
1. under recovery on the ARVO & SISU Master fund loans up to about £17m inc interest is my best guess for now (ignoring possible £7m)
2. Shares in Otium £65.5m
3. loans in SBS&L £28m
say they could offset at 19% = approx £21m tax saving
However the actual hard cash they have put in i calculate was £33m up until 31/05/2017
Brighton Sky Blue
Well-Known Member
Wasps did so in 2014. In a roundabout way, Wasps should be grateful to SISU for gifting them the Ricoh in the first place
oldskyblue58
CCFC Finance Director
thing is Nick there was only one party distressing ACL ...... SISU
Presently everyone seems to be distressing OEG/CCFC ........... including SISU
SISU never do knee jerk reactions even if it seems like it. It is calculated. There is something there behind the scenes if you ask me
Nick
Administrator
That's my point, what makes it OK for others as well as SISU to distress CCFC? It has been pretty obvious for a while that the plan has been for others to distress CCFC to then try and force a takeover.
What makes people think SISU haven't got other plans other than "Oh Wasps won't do a deal so we had better hand it over to Hoffman?".
That's what I'm more worried about, I can't see them being so straight forward and friendly about it all. Can you?
kg82
Well-Known Member
I’m a bit naive with all this. So I’m going to ask a dumb question!
Something there behind the scenes... like what?
eastwoodsdustman
Well-Known Member
Nick, Any idea when the council and wasps representatives will start posting their campaign up on here today? The cricket starts soon so don't want to miss out.