FlyBritishMidland Posted November 17, 2022 Share Posted November 17, 2022 They’ve not been in great position since SISU took over but I think the recent developments still leave things a bit messy. Local businessman Doug King has agreed to buy an 85% stake which clears the debt. This still leaves SISU with a 15% stake. And today Mike Ashley has bought the 3 stadium companies for £17M immediately after they entered administration. This is despite the club putting in a £25M bid that the court deemed was too late. It’s still a bizarre situation and it shows how Mike Ashley operates. He agreed the price even before the stadium companies went into administration. Could he now effectively hold the club to ransom in terms of a future sale price (he knows he could make at least £8M buy the end of the week if he wanted to) or lease/rent to play there? Makes you realise how lucky we are that DC bought the lot. SuffolkRam, Crewton, Ted McMinn Football Genius and 3 others 3 2 1 Link to comment Share on other sites More sharing options...
Crewton Posted November 20, 2022 Share Posted November 20, 2022 On 17/11/2022 at 14:12, FlyBritishMidland said: They’ve not been in great position since SISU took over but I think the recent developments still leave things a bit messy. Local businessman Doug King has agreed to buy an 85% stake which clears the debt. This still leaves SISU with a 15% stake. And today Mike Ashley has bought the 3 stadium companies for £17M immediately after they entered administration. This is despite the club putting in a £25M bid that the court deemed was too late. It’s still a bizarre situation and it shows how Mike Ashley operates. He agreed the price even before the stadium companies went into administration. Could he now effectively hold the club to ransom in terms of a future sale price (he knows he could make at least £8M buy the end of the week if he wanted to) or lease/rent to play there? Makes you realise how lucky we are that DC bought the lot. I'd be interested to see why the Court determined that Doug King's offer was too late to be considered, when it was 50% higher than Ashley's. It could only be that the transaction was essentially complete and legally binding. FlyBritishMidland 1 Link to comment Share on other sites More sharing options...
Tamworthram Posted November 20, 2022 Share Posted November 20, 2022 3 hours ago, Crewton said: I'd be interested to see why the Court determined that Doug King's offer was too late to be considered, when it was 50% higher than Ashley's. It could only be that the transaction was essentially complete and legally binding. I think the answer is quite obvious really. As King admits himself, his bid was very late. He has said that he can see the judges point of view that if his bid had been accepted, even though there were still things to be sorted out, the other bidders would have walked away. I'm sure he was serious but, if so, why leave it so late? Maybe it was already a done deal before it got in front of the judge but I find this unlikely. RoyMac5 and Crewton 1 1 Link to comment Share on other sites More sharing options...
Gerry Daly Posted November 20, 2022 Share Posted November 20, 2022 And Don King is clearly a business associate of SISU. He doesn't look like their David Clowes thats for sure. We are so lucky Link to comment Share on other sites More sharing options...
Hans Datdo-Dishes Posted November 20, 2022 Share Posted November 20, 2022 13 minutes ago, Gerry Daly said: And Don King is clearly a business associate of SISU. He doesn't look like their David Clowes thats for sure. We are so lucky Yes, hair raising thought. Crewton, Van der MoodHoover and ThePrisoner 1 2 Link to comment Share on other sites More sharing options...
angieram Posted December 5, 2022 Share Posted December 5, 2022 cstand, roboto, RadioactiveWaste and 1 other 4 Link to comment Share on other sites More sharing options...
roboto Posted December 5, 2022 Share Posted December 5, 2022 Imagine what that nice Ashley fella could've done to us... Link to comment Share on other sites More sharing options...
Srg Posted December 5, 2022 Share Posted December 5, 2022 11 minutes ago, roboto said: Imagine what that nice Ashley fella could've done to us... He’s likely trying to force the sale of the club to him. RadioactiveWaste and Crewton 2 Link to comment Share on other sites More sharing options...
Foreveram Posted December 5, 2022 Share Posted December 5, 2022 GboroRam and RadioactiveWaste 2 Link to comment Share on other sites More sharing options...
Jubbs Posted December 5, 2022 Share Posted December 5, 2022 Norman, i-Ram and REDCAR 3 Link to comment Share on other sites More sharing options...
Animal is a Ram Posted December 5, 2022 Share Posted December 5, 2022 I suspect the conditions behind are wildly different to ours - but I still can't help but feel we may have dodged a Mike Ashley shaped bullet. The stars truly did align for us to have Clowes. Adslegend, Crewton, FlyBritishMidland and 4 others 7 Link to comment Share on other sites More sharing options...
ramsbottom Posted December 5, 2022 Share Posted December 5, 2022 And to think people were campaigning for that Bamford to buy our club. Not so much dodged a bullit, but an intercontinental ballistic missile. What a mother funker... Stive Pesley 1 Link to comment Share on other sites More sharing options...
Crewton Posted December 5, 2022 Share Posted December 5, 2022 It's ironic to see both Cov and Brum in ownership difficulties, after all that merry banter that sections of both clubs' supporters indulged in regarding our situation. It's salutory lesson in why gloating about the potential death of another club is unwise. For the decent supporters, who understand what any club means to its fanbase, I hope their problems aren't terminal but, for the haters, a long period of humbling decline would be a fitting outcome. i-Ram, angieram, archram and 2 others 5 Link to comment Share on other sites More sharing options...
RoyMac5 Posted December 5, 2022 Share Posted December 5, 2022 RadioactiveWaste 1 Link to comment Share on other sites More sharing options...
May Contain Nuts Posted December 5, 2022 Share Posted December 5, 2022 (edited) 28 minutes ago, ramsbottom said: And to think people were campaigning for that Bamford to buy our club. Not so much dodged a bullit, but an intercontinental ballistic missile. What a mother funker... Surely not? Edited December 5, 2022 by Kokosnuss i-Ram 1 Link to comment Share on other sites More sharing options...
Ram-Alf Posted December 5, 2022 Share Posted December 5, 2022 Link to comment Share on other sites More sharing options...
RadioactiveWaste Posted December 5, 2022 Share Posted December 5, 2022 It's been a rough twenty odd years for Cov.... Link to comment Share on other sites More sharing options...
Foreveram Posted December 5, 2022 Share Posted December 5, 2022 41 minutes ago, Crewton said: It's ironic to see both Cov and Brum in ownership difficulties, after all that merry banter that sections of both clubs' supporters indulged in regarding our situation. It's salutory lesson in why gloating about the potential death of another club is unwise. For the decent supporters, who understand what any club means to its fanbase, I hope their problems aren't terminal but, for the haters, a long period of humbling decline would be a fitting outcome. We should send Blackpool fans a collective Christmas card. Crewton 1 Link to comment Share on other sites More sharing options...
GenBr Posted December 5, 2022 Share Posted December 5, 2022 59 minutes ago, Animal is a Ram said: I suspect the conditions behind are wildly different to ours - but I still can't help but feel we may have dodged a Mike Ashley shaped bullet. The stars truly did align for us to have Clowes. I'm very happy we got Clowes as our owner, but I presume this is a negotiating tactic by Ashley. Might be a shitty way to go about it, but completely different to our situation. 59 minutes ago, ramsbottom said: And to think people were campaigning for that Bamford to buy our club. Not so much dodged a bullit, but an intercontinental ballistic missile. What a mother funker... Yes I'm sure it would have been much better to just cease to exist. Ashley is still better than no club and we had very few options at the time until Clowes stepped in to save us. ram59, RoyMac5, LazloW and 3 others 4 2 Link to comment Share on other sites More sharing options...
Animal is a Ram Posted December 5, 2022 Share Posted December 5, 2022 1 minute ago, GenBr said: I'm very happy we got Clowes as our owner, but I presume this is a negotiating tactic by Ashley. Might be a shitty way to go about it, but completely different to our situation. I can only imagine he's trying to negotiate a better rent? Pretty sure the last I saw, he wasn't interested in CCFC as a club? Link to comment Share on other sites More sharing options...
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