Sisu back in full control and us out of admin by Tuesday? (1 Viewer)

Otis · Jun 9, 2013

Someone posted this on GMK.

Not sure the validity of it all to be honest.

'It is all irrelevant anyway now as I have just found out that the SISU bid is being validated as the preferred bid by Paul Appleton and the purchase will be ratified at Tuesdays creditors meeting.
As long as the court paperwork can be completed we should be out of admin by Wednesday lunch time.
Happy Days.'

Flying Fokker · Jun 9, 2013

Oh my gawd.

Grendel · Jun 9, 2013

I think it will be next week and will almost certainly be as described.

covhead1 · Jun 9, 2013

we're doomed

Voice_of_Reason · Jun 9, 2013

Otis said:
Someone posted this on GMK.

Not sure the validity of it all to be honest.

'It is all irrelevant anyway now as I have just found out that the SISU bid is being validated as the preferred bid by Paul Appleton and the purchase will be ratified at Tuesdays creditors meeting.
As long as the court paperwork can be completed we should be out of admin by Wednesday lunch time.
Happy Days.'

Doesn't mean the Football League has to accept it though if they feel a SISU future is not in the best interests of the club.

Sky blue north east · Jun 9, 2013

Goodbye....

rupert_bear · Jun 9, 2013

Where are we playing ?

RogerH · Jun 9, 2013

Such an outcome might pave the way for a "cleaner" take over. Both the Haskell and Byng consortiums will have been aware of this as a possible outcome, and have a strategy. Could be interesting.

Sky blue north east · Jun 9, 2013

I thought creditors meeting was on the 14th....

Jack Griffin · Jun 9, 2013

Pretty much as I expected, now the interested parties will talk direct, there was no way SISU would let the administrator decide the price, they'll be doing their usual hard nose negotiating now.. but they won't get a price they want unless they move back to the Ricoh as their goal of break even finances can't be achieved playing away.

After Orange Ken left it was always their objective to make the club break even and then sell it, because that is how they get the best price.

The good thing is that the fans sent a clear message at the forums, TF knows their mood now, he has seen it close up.. he knows the game is up & SISU have to get out or face huge additional losses over the next few years.

the rumpo kid · Jun 9, 2013

Otis said:
Someone posted this on GMK.

Not sure the validity of it all to be honest.

'It is all irrelevant anyway now as I have just found out that the SISU bid is being validated as the preferred bid by Paul Appleton and the purchase will be ratified at Tuesdays creditors meeting.
As long as the court paperwork can be completed we should be out of admin by Wednesday lunch time.
Happy Days.'

was posted by david brent who is notoriously full of shit, and a complete knob.

skybluesam66 · Jun 9, 2013

sisu will absolutely be the highest bidder. As because the debt in limited is 99% to themselves -this means they can afford to bid 100 times more than anybody else, as the proceeds come to the creditors ie sisu

Broken Hearted Sky Blue · Jun 9, 2013

Otis said:
Someone posted this on GMK.

Not sure the validity of it all to be honest.

'It is all irrelevant anyway now as I have just found out that the SISU bid is being validated as the preferred bid by Paul Appleton and the purchase will be ratified at Tuesdays creditors meeting.
As long as the court paperwork can be completed we should be out of admin by Wednesday lunch time.
Happy Days.'

Great so thursday announce ground sharing ground,friday planning permission appllication lodged/passed following wednesday (B+Q 10% pensioners reduction for Tims parents) order shed and away we go

wingy · Jun 9, 2013

rupert_bear said:
Where are we playing ?

I hav'nt inderstood this standpoint all the way through.

Just Why would they get more in that Scenario , Neither is really worth anything,Holdings has nothing in of any true Value ,£2M. would be ultra generous ,I still maintain the bidding going on now is where there is value as you're through the door to clean up the other bit.

Edit ;- Sorry meant to be Roger H quote.

Ripbuster · Jun 9, 2013

My plane leaves Friday and its destination has not changed,believe what you want................Sisu out!

Voice_of_Reason · Jun 9, 2013

Jack Griffin said:
Pretty much as I expected, now the interested parties will talk direct, there was no way SISU would let the administrator decide the price, they'll be doing their usual hard nose negotiating now.. but they won't get a price they want unless they move back to the Ricoh as their goal of break even finances can't be achieved playing away.

After Orange Ken left it was always their objective to make the club break even and then sell it, because that is how they get the best price.

The good thing is that the fans sent a clear message at the forums, TF knows their mood now, he has seen it close up.. he knows the game is up & SISU have to get out or face huge additional losses over the next few years.

If I get the chance I will point this out at Monday's Forum. Fisher has had his say and we have listened .. now it is OUR turn to have OUR say. We don't want SISU. We, the customers and life-blood will never support SISU -- ACL nor the Council want SISU -- time for SISU to do the honurable (ha ha) thing and negotiate a sale to one of the other bidders. OSB has already commented that Coventry City (Holdings) Limited has no value according to its 2011 accounts. Listen to US now Tim, we don't want SISU -- GO !

Lord_Nampil · Jun 9, 2013

We won't be ground sharing with anyone, unless ACL take there words back and say they won't deal with Coventry city ltd any more. ACL and sisu will have to talk once ltd is out of administration! If ACL refuse they will be liable, and tim fisher has the evidence to back him up.... It's about to get very interesting! Lets hope it's for the better if this is the outcome!

Sky blue north east · Jun 9, 2013

the rumpo kid said:
was posted by david brent who is notoriously full of shit, and a complete knob.

yes so true the guy is 100 per cent full off shite.....

rupert_bear · Jun 9, 2013

skybluesam66 said:
sisu will absolutely be the highest bidder. As because the debt in limited is 99% to themselves -this means they can afford to bid 100 times more than anybody else, as the proceeds come to the creditors ie sisu

It isn't the highest bidder, it is the prefered bidder, doesn't mean it won't be sisu but not as cut and dried as people think IMO.

valiant15 · Jun 9, 2013

Im sure there will be half a dozen or so on here who'll be happy if sisu remain in charge.

jas365 · Jun 9, 2013

the rumpo kid said:
was posted by david brent who is notoriously full of shit, and a complete knob.

Was about to post the same thing, I don't think anything he has ever posted like that in the history of GMK has turned out to be right.

rupert_bear · Jun 9, 2013

jas365 said:
Was about to post the same thing, I don't think anything he has ever posted like that in the history of GMK has turned out to be right.

Wonder what name he uses on here.....Grendel perhaps ?

wingy · Jun 9, 2013

the rumpo kid said:
was posted by david brent who is notoriously full of shit, and a complete knob.

For reference whats his writng style so we can figure him on here . Any guesses.

SkyBlueBlood · Jun 9, 2013

Voice_of_Reason said:
Doesn't mean the Football League has to accept it though if they feel a SISU future is not in the best interests of the club.

I know, but you have to put the Football Leagues track record in context. Their prime interest is that the club is able to complete it's fixtures so they don't fall into an administration nightmare of changing everything half way through the season.

I doubt the FL will have the balls to take on SISU, unless it is proven that the players contracts / golden share were moved by SISU to bypass / bend league rules. That is when they would get very touchy abd possibly act in the interests of football.

James Smith · Jun 9, 2013

Lord_Nampil said:
We won't be ground sharing with anyone, unless ACL take there words back and say they won't deal with Coventry city ltd any more. ACL and sisu will have to talk once ltd is out of administration! If ACL refuse they will be liable, and tim fisher has the evidence to back him up.... It's about to get very interesting! Lets hope it's for the better if this is the outcome!

ACL won't talk to Holdings (who don't have the lease) and will only talk to Ltd who are in Administration and therefore should ltd cease to be in Admin they would have to talk to the new owners of Ltd even if it is SISU. If Tim fisher does have the evidence he's not showing it to anyone.

Sadly I suspect that the outcome where SISU end up back as owners of Ltd would have happened even if the administrator appointed had been the ACL preferred one.

Diehard Si · Jun 9, 2013

If this happens I'm going to struggle to get any kind of enthusiasm for next season.

SISU have shown nothing but a complete incompetence at running a football club.

Not really sure where I go from here as a fan.

Lord_Nampil · Jun 9, 2013

James Smith said:
ACL won't talk to Holdings (who don't have the lease) and will only talk to Ltd who are in Administration and therefore should ltd cease to be in Admin they would have to talk to the new owners of Ltd even if it is SISU. If Tim fisher does have the evidence he's not showing it to anyone.

Sadly I suspect that the outcome where SISU end up back as owners of Ltd would have happened even if the administrator appointed had been the ACL preferred one.

From what I was told on Friday there are letters saying so, so will have to wait and see what happens! As iv said before the ground share is more of a back up plan if ACL go back on there word if sisu buy back limited!

If sisu remain they remain, but ACL and the council will have a lot of making up to do with them, for the sake of 13k fans who have said they won't follow the club outside the city! Think the problem ACL had at the start is they didn't no what complicated structure was involved with ccfc, something which is still very confusing.....

Sky Blue Kid · Jun 9, 2013

So what this is saying is.....Forget about the 6 years of non commitment to Coventry City Football Club...Forget about the totally inadequate management of said Football Club...Forget about the (Dubious to say the least) work ethics.....Infact forget about almost 130 years of Footballing History, who's demise has been brought about by the clowns who call themselves owners!...CCFC is dead......Time for Coventry City AFC:jerkit:

Ashdown1 · Jun 9, 2013

Otis said:
Someone posted this on GMK.

Not sure the validity of it all to be honest.

'It is all irrelevant anyway now as I have just found out that the SISU bid is being validated as the preferred bid by Paul Appleton and the purchase will be ratified at Tuesdays creditors meeting.
As long as the court paperwork can be completed we should be out of admin by Wednesday lunch time.
Happy Days.'

Who pray tell me made this statement on GMK, that dreadful bastion of hedge fund supporters !!

Otis · Jun 9, 2013

valiant15 said:
Im sure there will be half a dozen or so on here who'll be happy if sisu remain in charge.

Yes, there's Tim, his dog and Joy, that's 3.

Who are the other 3 then I wonder?

Broken Hearted Sky Blue · Jun 9, 2013

Otis said:
Yes, there's Tim, his dog and Joy, that's 3.

Who are the other 3 then I wonder?

Not the dog

Grendel · Jun 9, 2013

rupert_bear said:
Wonder what name he uses on here.....Grendel perhaps ?

Ha that's funny where is the Chinese owner or, what was it, the American with the funny name.

japandy · Jun 9, 2013

Not like you to do gossip Otis especially from GMK.

What people have to remember the administrator is not at liberty to just accept the LARGEST bid. His job is to get the best possible deal for CCFC. If he feels it is in the best interest to accept a smaller bid but the bidder agrees to play at the Ricoh and eventually buy it then that bid would be accepted because it has the club at heart.
If SISU believe their bid will be accepted hands down they are far from right. The administrator's job is not to accept the largest bid but then the club is homeless and suffer again from administration or worse. His reputation is at stake and if he just picks SISU because he likes them but there is no substance to their bid then the FL will question his impartiality and will not be allowed in football again.

Grendel · Jun 9, 2013

japandy said:
Not like you to do gossip Otis especially from GMK.

What people have to remember the administrator is not at liberty to just accept the LARGEST bid. His job is to get the best possible deal for CCFC. If he feels it is in the best interest to accept a smaller bid but the bidder agrees to play at the Ricoh and eventually buy it then that bid would be accepted because it has the club at heart.
If SISU believe their bid will be accepted hands down they are far from right. The administrator's job is not to accept the largest bid but then the club is homeless and suffer again from administration or worse. His reputation is at stake and if he just picks SISU because he likes them but there is no substance to their bid then the FL will question his impartiality and will not be allowed in football again.

One of his primary responsibilities is to satisfy creditors and we know who the main creditor is

The football league will also probably want sisu to prevent further actions down the line.

japandy · Jun 9, 2013

Grendel said:
One of his primary responsibilities is to satisfy creditors and we know who the main creditor is

The football league will also probably want sisu to prevent further actions down the line.

There is no way the FL will accept a company who have gone out of their way as saying we will be homeless.

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