Doug King Takeover (31 Viewers)

[Gibbo]

After 35 pages, plus the 300+ on the other thread, without knowing exactly why, increasingly think the King deal stinks. The reasons have been listed by others above, but:-

Is the King deal signed and done or is it conditional on the outcome of today? Could we end up back 100% SISU owned?
Could King aquire both club and ground and then sell back to SISU and walk away with an agreed cut?

I could go on

Gibbo remains confused

 

---

[CCFCSteve]

Still don’t understand why King didn’t bid “£35m to satisfy the bondholders claim in exchange for their charge including the £9m P Share charge”

King gets the Bonds pays off, becomes the Bondholder and charge holder might get £9m back meaning it’s all cost £26m not £25m and he occupies a stadium which he has a charge over.

I’m sure I must have missed something

Because he doesn’t have £35m….or even £25m for stadium ?!

 

[SBT]

Also sat next to Hoffman, Joy, Ashley, King and Storey:

Vincent Tan
Sam Hammam
Dick & Dom
“Macho Man” Randy Savage
The ghost of Robert Maxwell
The guy from Fyre Festival
Sam Bankman-Fried
Barry Scott

 

[Gibbo]

Still don’t understand why King didn’t bid “£35m to satisfy the bondholders claim in exchange for their charge including the £9m P Share charge”

King gets the Bonds pays off, assumes the rights of the Bondholder and charge holder might get £9m back meaning it’s all cost £26m not £25m and he occupies a stadium which he has a charge over.

I’m sure I must have missed something

You are right, this is a very complicated way to buy a ground unless there is some ulterior motive

 

[Nick]

Because he doesn’t have £35m….or even £25m for stadium ?!

Apparently he has, fuck knows.

 

[Greggs]

Also sat next to Hoffman, Joy, Ashley, King and Storey:

Vincent Tan
Sam Hammam
Dick & Dom
“Macho Man” Randy Savage
The ghost of Robert Maxwell
The guy from Fyre Festival
Sam Bankman-Fried
Barry Scott

the guy from fyre festival lol. Great show that was!

 

[Nick]

After 35 pages, plus the 300+ on the other thread, without knowing exactly why, increasingly think the King deal stinks. The reasons have been listed by others above, but:-

Is the King deal signed and done or is it conditional on the outcome of today? Could we end up back 100% SISU owned?
Could King aquire both club and ground and then sell back to SISU and walk away with an agreed cut?

I could go on

Gibbo remains confused

He said it isn't conditional on the outcome today.

 

[Gibbo]

Because he doesn’t have £35m….or even £25m for stadium ?!

The trouble is that if £25 m is him spent up, where will we be thereafter?

 

[CCFCSteve]

Apparently he has, fuck knows.

Yeah, just throwing stuff out there. Nobody knows what he’s got and what he’s willing to pay

 

[SBT]

Just received exclusive live pictures of a load of new potential bidders who’ve entered the courtroom

 

[Nick]

Has anybody spoken to Richard Keys?

 

[Gibbo]

....I've had enough of this, I am going to pull the curtains, go to bed and yank the duvet right over my head. Then I am going to curl up into a ball and await the outcome.

Gibbo remains confused

 

[skybluepm2]

The trouble is that if £25 m is him spent up, where will we be thereafter?

He was very coy when asked about whether or not MR would be given funds in January, saying that he wasn’t in a position to comment on such matters until EFL approval had been obtained. 5 minutes earlier he was spouting that there would be no player sales made in the next transfer window, somewhat contradictory.

He also hasn’t been focussing on ‘our great players’ as he’s just been looking at ‘the club’.

 

[mark82]

Look il be honest I have no idea what to think .

I'm just going to see what happens today in court , a place where sisu smash people

Exactly where I stand. Don't know enough about the situation to know one way or another whether this is good, bad or indifferent.

 

[mark82]

Lined up together?

Is Hoff on behalf of MA or Joy-King

Would guess Hoffman is on behalf of CBS as sponsor.

 

[Mcbean]

Also sat next to Hoffman, Joy, Ashley, King and Storey:

Sam Bankman-Fried

Is he paying in mushrooms

 

[hill83]

I’m just glad there’s a few weeks of no games while all this distraction is going on.

 

[Deleted member 5849]

Would guess Hoffman is on behalf of CBS as sponsor.

Coventry Building Society names chair designate - Insider Media

Coventry Building Society has named a chair designate following the completion of a selection process.

www.insidermedia.com

 

[clint van damme]

Think there was a rumour he put in a bid. or was interested.

At this point 5he only people in the public eye who haven't been rumoured to have put a bid in are Jimmy Nail and Hugh Fearnley Withinstall

 

[Frostie]

Anyone hear Simon Jordan on Talksport just now? Some interesting tidbits. He gave a bit more clarity on the line he gave before:

“Too much like hard work in terms of the stadium, the development of the stadium, the moving of the stadium"

He says CCC are/were looking into the option of demolishing the CBS for social housing.

 

[Deleted member 5849]

Anyone hear Simon Jordan on Talksport just now? Some interesting tidbits. He gave a bit more clarity on the line he gave before:

“Too much like hard work in terms of the stadium, the development of the stadium, the moving of the stadium"

He says CCC are/were looking into the option of demolishing the CBS for social housing.

tbf in eight years' time, as it stands, there's no sporting use for the stadium.

 

[fatso]

After 35 pages, plus the 300+ on the other thread, without knowing exactly why, increasingly think the King deal stinks. The reasons have been listed by others above, but:-

Is the King deal signed and done or is it conditional on the outcome of today? Could we end up back 100% SISU owned?
Could King aquire both club and ground and then sell back to SISU and walk away with an agreed cut?

I could go on

Gibbo remains confused

Regardless of what's in the press, the king deal can't go through until its approved by the football league.
So as yet it hasn't concluded, it's nothing more than an agreement in principle subject to said approval.

I wonder if he'll be so keen to finalise the deal if MA gets the Arena, he says he will, but he would say that at this stage.

We await with interest.

 

[skybluetony176]

Where’s William Storeys involvement come from? Have I missed/forgotten something? Assume he’s the Rich Energy guy who was allegedly part of a consortium trying to buy Sunderland at some point.

 

[shmmeee]

Also sat next to Hoffman, Joy, Ashley, King and Storey:

Vincent Tan
Sam Hammam
Dick & Dom
“Macho Man” Randy Savage
The ghost of Robert Maxwell
The guy from Fyre Festival
Sam Bankman-Fried
Barry Scott

Harsh on Dick & Dom

 

[Nick]

Would guess Hoffman is on behalf of CBS as sponsor.

Why? He left.

 

[clint van damme]

Yep, promised a substantial sum, it simply didn't exist. Then spent several months on social media going off on some deranged lunacy about it.

He should have listened to the old adage, 'never try your own supply'.

 

[skybluetony176]

Regardless of what's in the press, the king deal can't go through until its approved by the football league.
So as yet it hasn't concluded, it's nothing more than an agreement in principle subject to said approval.

I wonder if he'll be so keen to finalise the deal if MA gets the Arena, he says he will, but he would say that at this stage.

We await with interest.

We don’t even know if it’s been put to the FL yet.

 

[skybluebeduff]

The hardest part of all this so far, was trying not to cry when people at work this morning were congratulating us Cov fans about the news. Loads of City fans in my work place, every single one of them including myself had the biggest smiles on our faces that I haven't seen in a long time.

I'm buzzing, ground or not, good times are coming .

 

[AOM]

He has said he has showed people proof of funds.

Remember when Dale Evans must have showed a betting slip?

Dale Evans showed his top 3 Time Crisis II record score

 

[OldBedrocker]

Not listened to King’s interview but did he explain why only 85% and why SISU are keeping 15%?

 

[mark82]

Coventry Building Society names chair designate - Insider Media

Coventry Building Society has named a chair designate following the completion of a selection process.

www.insidermedia.com

Ah, didn't realise that.

 

[Deleted member 5849]

Not listened to King’s interview but did he explain why only 85% and why SISU are keeping 15%?

He wants her involved going forward, doesn't want to lose her knowledge of the club.

 

[Dirk Turpin]

Sounds like an absolute circus, we just need Gazza to turn up pissed with 4 cans and a fishing rod now asking to get in the court room

 

[Gibbo]

He wants her involved going forward, doesn't want to lose her knowledge of the club.

good point

 

[skybluetony176]

That mentalist with the dodgy energy drink company who apparently wanted Sunderland.

He’s certainly a character. All I know about him is he sponsored OMG’s BSB team and they cleaned up this season, Brad Ray won the championship and OMG won the team’s.