| Coventry City - post Premier League on 21:31 - Jan 7 with 4837 views | Oldjack |
that'll be us in the future ,Thanks to the sellouts  |  |
| Prosser the Tosser dwells on Phil's bum hole like a rusty old hemorrhoid ,fact
You Greedy Bastards Get Out Of OUR Club!
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| Coventry City - post Premier League on 21:56 - Jan 7 with 4786 views | swanforthemoney |
I wonder why the fans at the far end choose to sit so far away from each other? |  |
| I stand in the North Stand
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| Coventry City - post Premier League on 22:21 - Jan 7 with 4726 views | Bloodyhills |
Maybe they'd been sitting in those same seats, year on year, while those around them dwindled away until, at last, they sat alone, wondering where their friends and their club had gone. :( |  |
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| Coventry City - post Premier League on 22:29 - Jan 7 with 4690 views | Dewi1jack |
Very interesting article.
One that should send out a stark warning
This is from the bit on how much clubs are sold for
"There is a consortium of fans keen to buy it off them, led by Gary Hoffman, the former club vice-chairman, and CEO of insurers Hastings. Hoffman’s consortium have submitted four offers to SISU, the most recent in November, for an initial £7m potentially rising as high as £20m, but with no success. “We are a rock solid consortium of local businessmen who are life-long fans,” Hoffman says. “We are not in it to try and make money. We have a plan to get the club back to the Championship. I am not going to publicly criticise SISU but of course we should not be where we are.”
Estimates vary on how much money SISU have lost in Coventry — most say between £60m and £70m — but they now want £20m up front to sell the club. Even though the club has almost no assets. Portsmouth FC, a club of roughly similar size, but who play in League One, and who own Fratton Park, were just sold to former Disney chief executive Michael Eisner. For a price of £5.6m."
So, if the Trust take the sellers/ buyers to Court for equality and we do get £21 million+ for a full sale, we can easily buy the club back outright. With change.
Or find a group to buy say 51% and us the rest, leaving a really nice war chest should we need it.
We'd have no real assets to speak of.
The Yanks may not get change of use planning for the training grounds, making them worth what we're willing to pay
The Uni still own half (or more) of one anyway.
All half tidy players would have been flogged. As would anything not nailed down |  |
| If you wake up breathing, thats a good start to your day and you'll make many thousands of people envious. |
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| Coventry City - post Premier League on 23:02 - Jan 7 with 4609 views | LeonWasGod |
| Coventry City - post Premier League on 22:29 - Jan 7 by Dewi1jack |
Very interesting article.
One that should send out a stark warning
This is from the bit on how much clubs are sold for
"There is a consortium of fans keen to buy it off them, led by Gary Hoffman, the former club vice-chairman, and CEO of insurers Hastings. Hoffman’s consortium have submitted four offers to SISU, the most recent in November, for an initial £7m potentially rising as high as £20m, but with no success. “We are a rock solid consortium of local businessmen who are life-long fans,” Hoffman says. “We are not in it to try and make money. We have a plan to get the club back to the Championship. I am not going to publicly criticise SISU but of course we should not be where we are.”
Estimates vary on how much money SISU have lost in Coventry — most say between £60m and £70m — but they now want £20m up front to sell the club. Even though the club has almost no assets. Portsmouth FC, a club of roughly similar size, but who play in League One, and who own Fratton Park, were just sold to former Disney chief executive Michael Eisner. For a price of £5.6m."
So, if the Trust take the sellers/ buyers to Court for equality and we do get £21 million+ for a full sale, we can easily buy the club back outright. With change.
Or find a group to buy say 51% and us the rest, leaving a really nice war chest should we need it.
We'd have no real assets to speak of.
The Yanks may not get change of use planning for the training grounds, making them worth what we're willing to pay
The Uni still own half (or more) of one anyway.
All half tidy players would have been flogged. As would anything not nailed down |
If we go down to league 2. What happens if the Trust sells all 100% as a result of court action (if I remember correctly the likely outcome of successful court action), but we stay in the Championship and are worth £50m? The Trust/fans would lose all involvement in the club and not be in a position to afford to buy back without a sizeable partner. We (The Trust) could lose all connection to the club, period.
That's the only thing that's bugging me about a court case. Although morally (and probably legally) absolutely this should be taken to court. I just don't want to see the Fan's link severed (uselessness of the Trust notwithstanding, as that can change with new blood). |  | | |
| Coventry City - post Premier League on 23:15 - Jan 7 with 4566 views | longlostjack |
The lesson to be learned concerns the stadium. Please please Swansea councillors don't be blinded by the US bullshit. [Post edited 7 Jan 2018 23:16]
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| Coventry City - post Premier League on 23:16 - Jan 7 with 4560 views | majorraglan |
| Coventry City - post Premier League on 23:02 - Jan 7 by LeonWasGod |
If we go down to league 2. What happens if the Trust sells all 100% as a result of court action (if I remember correctly the likely outcome of successful court action), but we stay in the Championship and are worth £50m? The Trust/fans would lose all involvement in the club and not be in a position to afford to buy back without a sizeable partner. We (The Trust) could lose all connection to the club, period.
That's the only thing that's bugging me about a court case. Although morally (and probably legally) absolutely this should be taken to court. I just don't want to see the Fan's link severed (uselessness of the Trust notwithstanding, as that can change with new blood). |
It’s my belief that once the TV money has gone the value of the club would dimish significantly, unless there was a rock solid foundation I think the club could go for a lot less than £50m whether it was in the Championship or not. | | | |
| Coventry City - post Premier League on 23:18 - Jan 7 with 4551 views | builthjack |
Get those yanks out asap |  |
| Swansea Indepenent Poster Of The Year 2021. Dr P / Mart66 / Roathie / Parlay / E20/ Duffle was 2nd, but he is deluded and thinks in his little twisted brain that he won. Poor sod. We let him win this year, as he has cried for a whole year. His 14 usernames, bless his cotton socks.
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| Coventry City - post Premier League on 23:24 - Jan 7 with 4533 views | Dewi1jack |
| Coventry City - post Premier League on 23:02 - Jan 7 by LeonWasGod |
If we go down to league 2. What happens if the Trust sells all 100% as a result of court action (if I remember correctly the likely outcome of successful court action), but we stay in the Championship and are worth £50m? The Trust/fans would lose all involvement in the club and not be in a position to afford to buy back without a sizeable partner. We (The Trust) could lose all connection to the club, period.
That's the only thing that's bugging me about a court case. Although morally (and probably legally) absolutely this should be taken to court. I just don't want to see the Fan's link severed (uselessness of the Trust notwithstanding, as that can change with new blood). |
I do understand where you're coming from.
Yes, legal is an unknown quantity one way or the other- win or lose.
Personally, I'd rather us keep some stake, but I'd rather the Trust have the rainy day money, as we're starting to look like Blackburn, Blackpool, Pompey, Coventry and many others at the mo at the mo
Going to assume (yes, I know!) that we both reckon the Yanks will sell up rather than take hit after hit in the bottomless pit of club ownership.
There may well be a want to be owner who would like a 51-60% stake in a football club.
That leaves us in a position to pick up the rest. Or be close to it.
Prefer that scenario to the one of Beaky Dimwit, serial shagger and Van clog rebuying the club | |
| If you wake up breathing, thats a good start to your day and you'll make many thousands of people envious. |
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| Coventry City - post Premier League on 23:27 - Jan 7 with 4520 views | monmouth |
| Coventry City - post Premier League on 23:02 - Jan 7 by LeonWasGod |
If we go down to league 2. What happens if the Trust sells all 100% as a result of court action (if I remember correctly the likely outcome of successful court action), but we stay in the Championship and are worth £50m? The Trust/fans would lose all involvement in the club and not be in a position to afford to buy back without a sizeable partner. We (The Trust) could lose all connection to the club, period.
That's the only thing that's bugging me about a court case. Although morally (and probably legally) absolutely this should be taken to court. I just don't want to see the Fan's link severed (uselessness of the Trust notwithstanding, as that can change with new blood). |
Forget it, it's gone. Unless I've misunderstood, the trust can be diluted out of existence, or do nothing about high interest loans, or simply be ignored and have a powerless shareholding in perpetuity. It would maintain the chance of contesting fraud on the minority for any future excesses, but those new articles (signed by every single sellout by the way, I'm sure Morgan and Katzen had guns to their head...My Arse) as I see it, just gives the yanks the opportunity to kill the current Trust stone dead.
Better to have a war chest that will allow us to maybe pick up the pieces.
The thing that worries me on that one, apart from losing, is the moral hazard that it will create (owners thinking that there is always a £20m fallback pot if they rape the club first) and how to maintain the integrity of the Trust Board for the decision making when deciding what to do with the funds, if and when push comes to shove. It is probably a long time away, and it may be in some unscrupulous owners interests to infiltrate a dormant Trust to try and get hold of any surplus by gaining control of the Trust, if that were remotely possible. The decision making 'Trustees' overseeing the funds would need to be as sound and rigorously chosen and maintained as could be.
There are huge issues ahead, whatever. This is a mess whichever way you look at it. Thanks to those selling scum, we are looking for the least worst option, there isn't an appealing one given what we had and chucked away for greed. |  |
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| Coventry City - post Premier League on 00:36 - Jan 8 with 4425 views | LeonWasGod |
| Coventry City - post Premier League on 23:27 - Jan 7 by monmouth |
Forget it, it's gone. Unless I've misunderstood, the trust can be diluted out of existence, or do nothing about high interest loans, or simply be ignored and have a powerless shareholding in perpetuity. It would maintain the chance of contesting fraud on the minority for any future excesses, but those new articles (signed by every single sellout by the way, I'm sure Morgan and Katzen had guns to their head...My Arse) as I see it, just gives the yanks the opportunity to kill the current Trust stone dead.
Better to have a war chest that will allow us to maybe pick up the pieces.
The thing that worries me on that one, apart from losing, is the moral hazard that it will create (owners thinking that there is always a £20m fallback pot if they rape the club first) and how to maintain the integrity of the Trust Board for the decision making when deciding what to do with the funds, if and when push comes to shove. It is probably a long time away, and it may be in some unscrupulous owners interests to infiltrate a dormant Trust to try and get hold of any surplus by gaining control of the Trust, if that were remotely possible. The decision making 'Trustees' overseeing the funds would need to be as sound and rigorously chosen and maintained as could be.
There are huge issues ahead, whatever. This is a mess whichever way you look at it. Thanks to those selling scum, we are looking for the least worst option, there isn't an appealing one given what we had and chucked away for greed. |
Thanks Mon (and Dewi), but don't ever take up counseling for the Samaritans!
I knew the Trust is in a precarious position, but that rams the message home. With how the Trust have been treated, the current relationship and those tag along rights, I guess it's naive to think a shareholding has much influence.
That seems a logical position, even more so when you consider we're likely going down and the club value will plummet.
I'm pretty sure I've shifted position anyway, but these discussions really help me put things in order in my head. Given what we now know about the sale and subsequent behaviour of former shareholders, this needs to be resolved in court one way or the other. Then draw a line and move on. The moral and legal issue is becoming a bigger thing for me than who owns what (commercially naive I know, but someone has to hold them to account). [Post edited 8 Jan 2018 0:38]
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| Coventry City - post Premier League on 08:26 - Jan 8 with 4223 views | monmouth |
| Coventry City - post Premier League on 00:36 - Jan 8 by LeonWasGod |
Thanks Mon (and Dewi), but don't ever take up counseling for the Samaritans!
I knew the Trust is in a precarious position, but that rams the message home. With how the Trust have been treated, the current relationship and those tag along rights, I guess it's naive to think a shareholding has much influence.
That seems a logical position, even more so when you consider we're likely going down and the club value will plummet.
I'm pretty sure I've shifted position anyway, but these discussions really help me put things in order in my head. Given what we now know about the sale and subsequent behaviour of former shareholders, this needs to be resolved in court one way or the other. Then draw a line and move on. The moral and legal issue is becoming a bigger thing for me than who owns what (commercially naive I know, but someone has to hold them to account). [Post edited 8 Jan 2018 0:38]
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The tag and drag issues have disappeared with the deal. Now it is just do nothing or legal, unless there is another rabbit in a hat somewhere. Any potential sale to another minority will disappear with relegation too.
With Lisa, Andrew and Dai on the case, backed by a Trust Board (hopefully) with the blinkers and rose-tints off, I'm sure that the pros, cons, risks and rewards of the options we have will be clearly spelt out and dissected (not least on here, no doubt) before the vote. So I think you will get enough data, even if the decision may not be easy.
The model we really want and thought we had for many years - a strong supporter input and voice with all parties working solely in the interest of the club and its fans went irrevocably with the greed driven sale by those trusted with the club, to an american investment fund. In fact we probably only ever had a public pretence of it. That will not change no matter how they try and spin or self justify, and they know it. Pure scum. [Post edited 8 Jan 2018 8:28]
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| Coventry City - post Premier League on 10:13 - Jan 8 with 4088 views | waynekerr55 |
| Coventry City - post Premier League on 08:26 - Jan 8 by monmouth |
The tag and drag issues have disappeared with the deal. Now it is just do nothing or legal, unless there is another rabbit in a hat somewhere. Any potential sale to another minority will disappear with relegation too.
With Lisa, Andrew and Dai on the case, backed by a Trust Board (hopefully) with the blinkers and rose-tints off, I'm sure that the pros, cons, risks and rewards of the options we have will be clearly spelt out and dissected (not least on here, no doubt) before the vote. So I think you will get enough data, even if the decision may not be easy.
The model we really want and thought we had for many years - a strong supporter input and voice with all parties working solely in the interest of the club and its fans went irrevocably with the greed driven sale by those trusted with the club, to an american investment fund. In fact we probably only ever had a public pretence of it. That will not change no matter how they try and spin or self justify, and they know it. Pure scum. [Post edited 8 Jan 2018 8:28]
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What you on about, mun. We should be paying for a statue of the previous owners, mun. |  |
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| Coventry City - post Premier League on 11:04 - Jan 8 with 4033 views | Dewi1jack |
| Coventry City - post Premier League on 10:13 - Jan 8 by waynekerr55 |
What you on about, mun. We should be paying for a statue of the previous owners, mun. |
My new pup makes one every couple of hours on his puppy training pad through the night | |
| If you wake up breathing, thats a good start to your day and you'll make many thousands of people envious. |
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