PH4 has bid (1 Viewer)

bigfatronssba · May 16, 2013

Just on Cwr news that he has put a bid in to the administrator.

Diehard Si · May 16, 2013

Any more details?

bigfatronssba · May 16, 2013

More after 7 apparently.

jon92 · May 16, 2013

In the telegraph aswell front page, hopefully will find out more after court today

jon92 · May 16, 2013

And bid for half the ground

moleyskyblue · May 16, 2013

Joe elliot is on cwr at 8 to update us whats happening

TrueSkyBlueLiam · May 16, 2013

Remember the date guys. The FA Cup triumph and hopefully the day we secure a stable future for our club. Lets just hope it isnt all talk and rumours

skybluelee · May 16, 2013

Stop it with these too good to be true rumours, ican't cope with the hope.

Sky Blues · May 16, 2013

bigfatronssba said:
Just on Cwr news that he has put a bid in to the administrator.

But will it be accepted? That's the key.

The fact PH4 feels he can make a bid to the administrator does make me feel a little bit more optimistic about what might happen in court today though...

Sub · May 16, 2013

if they have made a bid does that meen the golden share has been confirmed to be in CCFC LTD ?????? surely it must and that is good news !!!

Sub · May 16, 2013

Bid for Coventry City?

Submitted by WG on Thu, 16/05/2013 - 06:45 It is being tweeted by usually reliable sources that American millionaire Preston Haskell has tabled a bit for Coventry City and 50 per cent of the Ricoh Stadium. Should this be confirmed, it would be great news for Sky Blues fans. Haskell has been interested in investing in the club for some time.
Nothing is known about the reaction of current owners Sisu. We will update this story if it is confirmed and more becomes known.

Flying Fokker · May 16, 2013

The illusive golden share

SkyBlueBlood · May 16, 2013

In theory does that mean that the administrator has had to submit his court papers to ACL pre-hearing so they know PH4 can bid safely?

If so and assuming the offer is reasonable and the best offer available to "maximise creditors payments" we could be approaching the beginning of the end for Fisher and SISU. About time.

ccfcway · May 16, 2013

Cue SISU turning down bid when it's revealed today they still have control.

bigfatronssba · May 16, 2013

ccfcway said:
Cue SISU turning down bid when it's revealed today they still have control.

Claim they still have control

ccfcway · May 16, 2013

bigfatronssba said:
 
 
Claim they still have control

I'd love it to be this simple, but this CCFC. SISU are going nowhere, at least without a very lengthy legal fight

RoboCCFC90 · May 16, 2013

Don't go anywhere today folks it's going to be an interesting one!

mattylad · May 16, 2013

or last throw of dice by PH4 knowing that they need to counter what the administrator is going to say in court? not going to get carried away with any publicity stunts until I hear what he has to say first

bigfatronssba · May 16, 2013

They were interviewing another administrator on the radio and he was saying that the football league will only transfer the golden share back to whoever can guarantee a football ground lease in Coventry for at least 10 years.

Godiva · May 16, 2013

FL require the club have a place to play for at least the next 10 years. That is the crucial point.
ACL won't negotiate with sisu, they want PH4 to replace sisu.
Sisu want to move away for a while and build a new stadium.
PH4 has tabled a bid for half the ACL and will thereby secure the lease and a venue to play at for at least the next 10 years.

It looks like ACL/PH4 hold the upper hand.

Will be interesting to hear what Appelton recommend.

EvansCCFC · May 16, 2013

if im correct ,PH4 has tabled a bid to own ACL as a company and take over the 50% share of the ricoh and own the CLUB, does that mean CCFC or PH4 will get all matchday ,concert /event revenue ,i think it does right ,exciting times

SkyblueBazza · May 16, 2013

mattylad said:
or last throw of dice by PH4 knowing that they need to counter what the administrator is going to say in court? not going to get carried away with any publicity stunts until I hear what he has to say first

I'm with you. Quiet optimism that something will happen to re-focus everyone on the actual football from today & long into the future. Until it happens though...

TrueSkyBlueLiam · May 16, 2013

EvansCCFC said:
if im correct ,PH4 has tabled a bid to own ACL as a company and take over the 50% share of the ricoh and own the CLUB, does that mean CCFC or PH4 will get all matchday ,concert /event revenue ,i think it does right ,exciting times

Yes, we will get 50% of all profits from the Ricoh Arena. Concerts, food, drink, car parking, everything, we get 50% of everything

standupforcity · May 16, 2013

All updates on here please asap...we who live in London and beyond can't get news as it happens...cheers guys...possible exciting times and I am holding my breath!!!

chickentikkamasala · May 16, 2013

standupforcity said:
All updates on here please asap...we who live in London and beyond can't get news as it happens...cheers guys...possible exciting times and I am holding my breath!!!

http://www.bbc.co.uk/radio/player/bbc_radio_coventry_warwickshire

chickentikkamasala · May 16, 2013

http://www.coventrytelegraph.net/news/coventry-news/preston-haskell-bids-buy-coventry-3860193

stupot07 · May 16, 2013

TrueSkyBlueLiam said:
Yes, we will get 50% of all profits from the Ricoh Arena. Concerts, food, drink, car parking, everything, we get 50% of everything

Not necessarily, depends on how he structures the club. I.e if Ph4 Ltd are the share holder of ACL and are owner of ccfc, pH4 ltd would be eligible for the dividend not ccfc. If ph4 buys ccfc and then buys 50% of ACL through ccfc then ccfc would be the 50% share holder. Half the profits aren't much ~£500k, it's more the revenue for FFP, but even then we will rely on te owner to loan the club money for losses, investment.

Sub · May 16, 2013

Elliot has said bid made for club, PH4 wants to by 50% of the Ricoh Arena, offer to by CCFC LTd, offer sent to administrator, offer depends what is in limited. (aslong as golden share is there) if administrator says share is there SISU can challenge it legally, preston was here tuesday having meeting with hoffman and elliot, had good contact with administrator, good relationship with ACL, ACL want coventry to play at Ricoh, many discussions with ACL we want to play at Ricoh, Higgs disccussions very good, talks with council, football club and arena need to be together, believe we can get both together if we buy club. If administrator do not agree with FA back to square one. Talked with higgs, made offer to higgs very keen with preston and team hoffman to make progress. Preston busy man all over the world always in communication with us, he is a gem to work with and very keen and serious to work with us understands club and arena needs to be together, doing very best elliot. no time scale waiting for administrator.

update from radio hopefully got most of it sorry if i missed bits !!

Godiva · May 16, 2013

Elliott said nothing really. They have made a bid on the condition that the golden share is with limited. They don't know if it is. Will depend on the administrators findings.

Brighton Sky Blue · May 16, 2013

All is fairly meaningless until we hear from happy Appy himself.

BoomShanka · May 16, 2013

Brighton Sky Blue said:
All is fairly meaningless until we hear from happy Appy himself.

What time are we expecting the findings?

covhead1 · May 16, 2013

what time are they due in court?
and what could be the best outcome?
could it all be sorted today?

so many questions.......

torchomatic · May 16, 2013

True. However, I have to say it was good to hear JE being so honest. It may work out, it may not. They have the best intentions and want the Club. Can't be fairer than that.

Brighton Sky Blue said:
All is fairly meaningless until we hear from happy Appy himself.

standupforcity · May 16, 2013

chickentikkamasala said:
http://www.coventrytelegraph.net/news/coventry-news/preston-haskell-bids-buy-coventry-3860193

Thank you...

Brighton Sky Blue · May 16, 2013

torchomatic said:
True. However, I have to say it was good to hear JE being so honest. It may work out, it may not. They have the best intentions and want the Club. Can't be fairer than that.

I believe he has said all this before so it really is nothing new, but agree he hasn't made false promises which is good.

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