Good news at last!!! (1 Viewer)
- Thread starter jaymo132
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torchomatic
Well-Known Member
What this:
More from City supporter on Hoffman new bid
According to comments Coventry City supporter Richard Keys has made on his Talk Sport show this morning, the presenter is doing all he can to help bring about a successful bid to take over the Sky Blues.
Keys, who is helping the Gary Hoffman consortium with a new bid which is being backed by a billionaire, who has been checked out and is above board, so Covsupport News Service understands, was heard to have said: "I have put money and people together and there is a bid on the table. I am doing as much as I can"
Earlier today, the Coventry Telegraph called for SISU and those left on the current City board to speak to Mr Hoffman
More from City supporter on Hoffman new bid
According to comments Coventry City supporter Richard Keys has made on his Talk Sport show this morning, the presenter is doing all he can to help bring about a successful bid to take over the Sky Blues.
Keys, who is helping the Gary Hoffman consortium with a new bid which is being backed by a billionaire, who has been checked out and is above board, so Covsupport News Service understands, was heard to have said: "I have put money and people together and there is a bid on the table. I am doing as much as I can"
Earlier today, the Coventry Telegraph called for SISU and those left on the current City board to speak to Mr Hoffman
torchomatic
Well-Known Member
"A bid on the table", eh? Well, more chance of SISU selling that table than the club, unfortunately.
InterSkyBlues
New Member
Please be true!
Billionaire in what currency??
torchomatic
Well-Known Member
kieronhunt
New Member
I'd say £2.50 should do it.
SkyBlueScottie
Well-Known Member
Is it the same bid as previously? If I was him I would have gone armed with the offer on headed notepaper addressed to Clarke Dulieu Igwe, Seppalla, Sillet, Hill etc, with names, proof of bank acc details etc.
However on the other side of this, is the timing of Doolallys resignation a mere coincidence, all of a sudden once again a prospective new bid apparently has nobody to talk to.
However on the other side of this, is the timing of Doolallys resignation a mere coincidence, all of a sudden once again a prospective new bid apparently has nobody to talk to.
torchomatic
Well-Known Member
ashbyjan
Well-Known Member
The only two things that give any sort of hint that something is afoot is the orange tawt moving off the board leaving a proper businessman, Igwe, to do the negotiations directly for SISU not a moronic deluded puppet and the timing of the CT article. I wonder of they know something and in a few of days can claim that they brought the parties together and they are the new saviours of Coventry City - the Bob Brollys of this decade.
Of course it could just be me clutching at straws.......
Of course it could just be me clutching at straws.......
Laos Kip? Last time I checked 1.2million was 100quid!
SkyBlue123
Member
£2.50 with an official letter headed post-it note written in crayon!
oldskyblue58
CCFC Finance Director
believe it when i see it ..... as with so much at CCFC. As such it isnt good news it is just a statement from Keys that may or may not have substance - sorry to put a downer on it..... but there is no hard evidence of anything
and if reading the report right it has now become the Keys bid???? Says helping GH but then says he (keys)has put the money and people together????
and if reading the report right it has now become the Keys bid???? Says helping GH but then says he (keys)has put the money and people together????
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Danceswithhorses
Well-Known Member
Why did they mention this 'billionaire' nonsense....all this information would do (if true) is encourage SISU to hold out longer for more money :facepalm:
It probably explains why Dulface has been bigging himself up with comments such as "i have turned around this club in record time" etc just before he departs for good, hopefully.
6 Generations
Well-Known Member
I was listening to the show.
Well actually it was during the customary hand over chat between Keys and Gray and Alan Brazil.
Keys alluded to the fact that Sheepshanks, the former chairman of Ipswich, and currently joint acting chairman of The F.A. would be one of the days guests.
As Brazil has strong connections with Ipswich, they got onto the subject of the current poor form of
Ipswich, which inspired Mr Keys to suggest that he should look at the bottom of the table and you will
find and i quote, "Super Sky Blues"
Keys went on to say that a creditable bid was on the table, and that it is about time that our current
owners had another look at it before it is too late for CCFC.
Brazil then suggested that Richard Keys should buy the club.
Keys assured him that he was not rich enough, but that he was responsible for introducing The Money people to each other ( Assume his Friend Hoffman)
I do not recall him saying that he had invested any of his own wealth.
So the Cov Mad article is almost accurate.
I just hope that something positive happens soon.
Bloodnut1964
New Member
He will want change if this price includes all the players!
oldskyblue58
CCFC Finance Director
Cheers 6 generations :wave: almost sounds like Keys was refering to the original bid but will wait see. Not actually sure there is anything new there. SISU have got to want to do the deal with Hoffman & co and I wouldnt bet my £1 on that happening
so i will believe it when I see it
so i will believe it when I see it
J
Jack Griffin
Guest
I think this is simply the old bid. Not a new initiative.
can someone "dumb down" the explanation about admin. What it would mean to us as a club, being bought etc etc. Are we better off to go that route as it opens up an easier market. Or will it mean some crook get us on the cheap? Also would SISU fight all the way to avoid this as it wouldnt benefit them....Please
ICHAN
Well-Known Member
If a bid is on the table A BIG IF, whoever it maybe do you think they will be pushing for it to go through asap so they have at least the january transfer window to do all they can within means to try and save the club from the inevitable?
If it is to happen my own personal view would be if I were a backer in the takeover I would want it done so that my investment was not in a team that could well possibly be playing 1st division football and want to be able to help it's status to survive this year and go for promotion next year.
If it is to happen my own personal view would be if I were a backer in the takeover I would want it done so that my investment was not in a team that could well possibly be playing 1st division football and want to be able to help it's status to survive this year and go for promotion next year.
cov_russell
Facebook User
WillieStanley
New Member
Surely it has to be new blood from new investors. Didn't Hoff say that Kens comments last time frightened his investors away?
I suppose its all academic though. The amount of times I've found myself excited about things about to happen and then become bitterly dissapointed since the King fiasco should be illegal!
I suppose its all academic though. The amount of times I've found myself excited about things about to happen and then become bitterly dissapointed since the King fiasco should be illegal!
oldskyblue58
CCFC Finance Director
Basically administration is a period during which an independent insolvency expert runs the company with a view to either recovering the company, selling it on or winding it up. It is generally controlled however by the largest creditor. Any assets can be sold to pay off debts.
In the case of CCFC the biggest creditor is ............... SISU acting for the funds who made the loans (assuming they havent been moved to some fancy other financial grouping). Remember when SISU bought in the Co-op bank decided who provided the best deal because they were the prime creditor
SISU have also placed a charge over assets like the training ground so that in any administration would pass to SBS&L
It is the club they would let go not SBS&L because SBS&L is where their investors are plus they would retain any assets in any group companies because of the charge (security or mortgage) they hold over them. SBS&L might have to write off money loaned to group companies but I cant see them letting SBS&L go.
The league would dock CCFC a minimum of 10 points - relegation a formality
The creditors have to approve any deal done to sell the club - SISU could vote to retain the club having got rid of all the other debts . It doesnt mean GH is guaranteed to get his hands on the club but it might be cheaper to buy from administration. Biggest creditor = SISU remember they will have some control of the process
As it stands football debts are protected by League rules. It would be very likely players would have to be sold (and at bargain prices) during the period of administration to fund debt and continued trading (might require special dispensation from league as would be under embargo or could be outside transfer window. )
We remain under an embargo till we come out of administration...... so if we go into administration 01/01/2012 forget about the transfer window it will be irrelevant, we will still be in administration by the end of it
Thats my take on it and if correct I will let folk make their own minds up as to whether administration is (a) good idea (b) gets us further forward (c) necessarily gets rid of SISU (d) lets GH or anyone else buy the club. I am not an insolvency practitioner though so others may understand and explain it better
In the case of CCFC the biggest creditor is ............... SISU acting for the funds who made the loans (assuming they havent been moved to some fancy other financial grouping). Remember when SISU bought in the Co-op bank decided who provided the best deal because they were the prime creditor
SISU have also placed a charge over assets like the training ground so that in any administration would pass to SBS&L
It is the club they would let go not SBS&L because SBS&L is where their investors are plus they would retain any assets in any group companies because of the charge (security or mortgage) they hold over them. SBS&L might have to write off money loaned to group companies but I cant see them letting SBS&L go.
The league would dock CCFC a minimum of 10 points - relegation a formality
The creditors have to approve any deal done to sell the club - SISU could vote to retain the club having got rid of all the other debts . It doesnt mean GH is guaranteed to get his hands on the club but it might be cheaper to buy from administration. Biggest creditor = SISU remember they will have some control of the process
As it stands football debts are protected by League rules. It would be very likely players would have to be sold (and at bargain prices) during the period of administration to fund debt and continued trading (might require special dispensation from league as would be under embargo or could be outside transfer window. )
We remain under an embargo till we come out of administration...... so if we go into administration 01/01/2012 forget about the transfer window it will be irrelevant, we will still be in administration by the end of it
Thats my take on it and if correct I will let folk make their own minds up as to whether administration is (a) good idea (b) gets us further forward (c) necessarily gets rid of SISU (d) lets GH or anyone else buy the club. I am not an insolvency practitioner though so others may understand and explain it better
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coundonskyblue
New Member
OSB can you clear something up for me? I was always under the impression that the company that starts the procedings towards admin gets to the front of the queue when it comes to reclaiming debts. (I haven't explained that very well I know, but i.e if Harry Shaw were owed money by the club that was not being repaid, Harry Shaw then took legal procedings against CCFC which resulted in the club falling into admin, Harry Shaw would be at the front of the queue when it comes to having their debt repaid).
I minght be completely wrong on this so I await your correction!
I minght be completely wrong on this so I await your correction!
oldskyblue58
CCFC Finance Director
You could be right CSB but the creditors meeting would go to a vote and eg Harry Shaw could be out voted and SISU take control of the process. Dont think SISU would want to lose control of the process so you might find Harry Shaw for example got paid off if they took action. Not an isolvency practitioner though so could be wrong ..... will try to find out.
SkyBlueMania
New Member
Are we getting to that desperate stage again where we will take anyone as a savour as we did with SISU? If we are bought out by a Chinese billionaire who decided he wanted us to be his play thing would anyone care? I obviously want SISU out and am at the stage where by I would take almost any alternative. I just worry that we may lose whatever identity we had as a club if we are at a foreigners beck and call. This is all figurative as the interested party could be from any walk of life and with any ethos about football, i'm just saying we are in a similar position to when we were bought by SISU a few years back.
oldskyblue58
CCFC Finance Director
Its about time the fans owned a significant stake in CCFC and had a proper say in its affairs..... clearly the old and current way of operating has been shown to be flawed.......... but not even GH is offering that alternative though. I have and others have pushed for a new kind of ownership - I think that is the way to go but will it happen?, sadly probably not too much self interest and too many ego's in the way
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