Lets Be having You Posted 7 March 2007 Share Posted 7 March 2007 US group eyeing Coventry takeover Coventry are £28m in debt Coventry have revealed they are in talks with an American consortium about a possible takeover. The Sky Blues have announced they have signed "non-binding heads of agreement" with Manhattan Sports Capital Partners. The group are in the early stages of due diligence, but the club said "it will not be possible for some time to be sure if the deal will go ahead". City are hoping any takeover will eliminate their £28m debt and provide transfer funds for boss Iain Dowie. A club statement said: "We hope the deal goes ahead. "Meanwhile, we have made it clear to the Manhattan group that any new arrangements for the club must involve substantial investment in improving and strengthening the squad to achieve the club's Premiership ambitions." Gary Hopkins, who is heading the Manhatten group's bid, told the Coventry Telegraph: "We are on a very critical path to make this happen. "We are not delving right down into finances just yet but what we will come back with in about four to five weeks is what we believe is a rational, sensible plan for our own investment in the club. "And if the parties all agree, we will come together and at that stage disclose what the investment will be. "But clearly it is big solution. Clearly it is not a few million pounds." Link to comment Share on other sites More sharing options...
DB11 Posted 7 March 2007 Share Posted 7 March 2007 - bet they're all walking around with smiles on their faces At least we have a well known chairman with contacts Link to comment Share on other sites More sharing options...
lookwhaticando Posted 7 March 2007 Share Posted 7 March 2007 General Sport. Surely? As for the takeover... do you think this American firm is the secret American bidder we had? Link to comment Share on other sites More sharing options...
Wils Posted 7 March 2007 Share Posted 7 March 2007 General Sport. Surely? As for the takeover... do you think this American firm is the secret American bidder we had? Yes Mr Picky. It could well be,couldnt get there first target so have to set there sights lower. Link to comment Share on other sites More sharing options...
davieG Posted 7 March 2007 Share Posted 7 March 2007 Posted by Adumas on another forum: a quick google shows that your two 'saviours' work for Alterity Partners, who "...help clients develop and execute value creation strategies, including raising capital, company sales, divestitures, acquisitions, equity and debt offerings, recapitalizations and other strategic transactions." yep - that is exactly who i would want owning my football club as well. after all, their key components include: " - Assessing and building consensus among shareholders and management in analyzing strategic alternatives and setting objectives. This important step is completed before the transaction begins -Assessing industry characteristics, company strategy, and competitive dynamics -Setting value expectations based on the company's performance and driving factors in the industry -Developing the optimal "story" that positions the company to maximize its value -Crafting comprehensive marketing materials to educate strategic buyers on why and how the opportunity fits into their strategic plan -Searching worldwide for the best investor base or strategic acquiror -Evaluating many potential candidates and proceeding with only the most qualified buyers and investors, thereby minimizing management distraction -Negotiating and structuring the transaction to achieve shareholders' and management's objectives -Maximizing confidentiality through staged disclosure of information and relentlessly managing the process to its successful closing " shyte on a stick, its a marriage made in heaven. incidentally, a google search for "Manhattan Sports Capital Partners" returns zero results. at least we know what mandarics ambition is for the club. you're pinning your hopes on someone who loved Cov so much he couldn't wait to get away, and has stayed away for "20 years". nice. just one last nugget for ya.... "We strive to sell businesses to strategic buyers who can afford to pay premium prices". maybe you should email him and ask how much he plans to make from your tinpot outfit ([email protected]) ! or are they in it for the love of cov? Link to comment Share on other sites More sharing options...
Thracian Posted 7 March 2007 Share Posted 7 March 2007 Aren't they all like flies around the jampot. Well I'll say this here and now cos I've seen it before. When Uncle Tom Cobleigh and all starts belatedly ploughing into a golden opportunity someone gets badly hurt and I just hope it isn't football. I can see a lot of these deals ending in tears for one simple reason... If there's only three promotion places there's going to be a lot of big spenders who won't be going up. Having seen Icelandic Eggert wincing so much down West Ham way after so few weeks in control can you imagine what he'll be like if he doesn't fight clear of the Championship next season? Oh what a lovely war it will be. And afterwards, just time to bury the financially dead.. Link to comment Share on other sites More sharing options...
Steven Posted 7 March 2007 Share Posted 7 March 2007 Aren't they all like flies around the jampot. Well I'll say this here and now cos I've seen if before. When Uncle Tom Cobleigh and all starts belatedly ploughing into a golden opportunity someone gets badly hurt and I just hope it isn't football. I can see a lot of these deals ending in tears for one simple reason... If there's only three promotion places there's going to be a lot of big spenders who won't be going up. Having seen Icelandic Eggert wincing so much down West Ham way after so few weeks in control can you imagine what he'll be like if he doesn't fight clear of the Championship next season? Oh what a lovely war it will be. And afterwards, just time to bury the financially dead.. Time to make sure that all the tools in the City toolbox are razor sharp. Link to comment Share on other sites More sharing options...
Strokes Posted 7 March 2007 Share Posted 7 March 2007 Aren't they all like flies around the jampot. Well I'll say this here and now cos I've seen if before. When Uncle Tom Cobleigh and all starts belatedly ploughing into a golden opportunity someone gets badly hurt and I just hope it isn't football. I can see a lot of these deals ending in tears for one simple reason... If there's only three promotion places there's going to be a lot of big spenders who won't be going up. Having seen Icelandic Eggert wincing so much down West Ham way after so few weeks in control can you imagine what he'll be like if he doesn't fight clear of the Championship next season? Oh what a lovely war it will be. And afterwards, just time to bury the financially dead.. Yes we may well see the end of a few famous clubs, i would imagne it would take something like this for the govering body's to actually introduce somthing simple, like a salary cap. Link to comment Share on other sites More sharing options...
Geo V Posted 7 March 2007 Share Posted 7 March 2007 I couldnt give two tosses about Cov to be honest. Link to comment Share on other sites More sharing options...
Daggers Posted 7 March 2007 Share Posted 7 March 2007 This is just the start...any team that can attract 25,000 people with a reasonable chance of promotion is going to be attractive for investment. What concerns me is that only a few are going to get into the Prem before the £30million p/a slams the door on the rest...then where will they be? Where will the Championship be? As much as I want to see us play in the top flight I am concerned over what it means for the future of the game. What if we don't make the cut? What then...clubs are going to be saddled with the debt of trying to get into the top flight...and average players on decent wages too. There's no turning back now, it's going to be interesting, but for anyone thinking that football has sold its soul already ~ I don't reckon we've seen the half of it yet. Link to comment Share on other sites More sharing options...
C-man Posted 7 March 2007 Share Posted 7 March 2007 It's the owner of the Miami Dolphins.Maybe we won't be laughing at Cov for much longer I was close. Could still be, I suppose Link to comment Share on other sites More sharing options...
Geo V Posted 7 March 2007 Share Posted 7 March 2007 This is just the start...any team that can attract 25,000 people with a reasonable chance of promotion is going to be attractive for investment. What concerns me is that only a few are going to get into the Prem before the £30million p/a slams the door on the rest...then where will they be? Where will the Championship be? As much as I want to see us play in the top flight I am concerned over what it means for the future of the game. What if we don't make the cut? What then...clubs are going to be saddled with the debt of trying to get into the top flight...and average players on decent wages too. There's no turning back now, it's going to be interesting, but for anyone thinking that football has sold its soul already ~ I don't reckon we've seen the half of it yet. The Championship will be fine with all these better quality teams getting relegated and more money ploughed into it. Maybe we will have a Premier 1 and 2 in the future with more TV revenue, who knows?? One thing seems almsot certain to happen is that the dream of a non-league or D2 club coming through the divisions like Wimbledon did all those years ago and Fulham and Wigan more recently may very rarely happen again. Link to comment Share on other sites More sharing options...
Daggers Posted 7 March 2007 Share Posted 7 March 2007 The Championship will be fine... I wish I had your confidence. Many (many) years ago, for English, I studied Great Expectations, The Great Gatsby and another one I fail to recollect; the theme threading through all of the books was that money is the root of all evil. Money has corrupted the game, and these further obscene sums will simply serve to corrupt it further. Link to comment Share on other sites More sharing options...
davieG Posted 7 March 2007 Share Posted 7 March 2007 I wish I had your confidence. Many (many) years ago, for English, I studied Great Expectations, The Great Gatsby and another one I fail to recollect; the theme threading through all of the books was that money is the root of all evil. Money has corrupted the game, and these further obscene sums will simply serve to corrupt it further. Fully agree, you just need to imagine what's happening out of the sight of the public eye Link to comment Share on other sites More sharing options...
DB11 Posted 7 March 2007 Share Posted 7 March 2007 For a footballer, the future looks bright. You could be as rubbish as hell but still get paid amazingly high wages <_< Link to comment Share on other sites More sharing options...
Leicester Lass Posted 7 March 2007 Share Posted 7 March 2007 For a footballer, the future looks bright. You could be as rubbish as hell but still get paid amazingly high wages <_< I sense a generation of Elvis Hammonds Link to comment Share on other sites More sharing options...
Thracian Posted 7 March 2007 Share Posted 7 March 2007 I sense a generation of Elvis Hammonds Don't you start. Link to comment Share on other sites More sharing options...
foxesfan1 Posted 7 March 2007 Share Posted 7 March 2007 i think all leicester fans shouldnt really care about what happens to cov at the end of the day im only worried about the result against them rather than who is buying them Link to comment Share on other sites More sharing options...
Daggers Posted 7 March 2007 Share Posted 7 March 2007 I sense a generation of Elvis Hammonds You and Jack been planning or has it come as a surprise? Link to comment Share on other sites More sharing options...
Smudge Posted 7 March 2007 Share Posted 7 March 2007 I wish I had your confidence. Many (many) years ago, for English, I studied Great Expectations, The Great Gatsby and another one I fail to recollect; the theme threading through all of the books was that money is the root of all evil. Money has corrupted the game, and these further obscene sums will simply serve to corrupt it further. Was it this un Dave? Link to comment Share on other sites More sharing options...
surrifox Posted 8 March 2007 Share Posted 8 March 2007 Someone from China with more dosh than sense is also sniffing round Sheff wednesday according to the papers Link to comment Share on other sites More sharing options...
Daggers Posted 8 March 2007 Share Posted 8 March 2007 Was it this un Dave? Welcome back Link to comment Share on other sites More sharing options...
Master Fox Posted 8 March 2007 Share Posted 8 March 2007 Well to me it sounds like another stupid American with more money than sense. If the yanks knew anything about ‘Soccer’ then they would realise buying Coventry is like wiping your arse with £2.8 million worth of £10 notes. Idiots Link to comment Share on other sites More sharing options...
davieG Posted 8 March 2007 Share Posted 8 March 2007 Well to me it sounds like another stupid American with more money than sense. If the yanks knew anything about 'Soccer' then they would realise buying Coventry is like wiping your arse with £2.8 million worth of £10 notes. Idiots At that rate it'll take them a long time to spend it, I'm sure there must be some mileage in being flush or not in there as well. Link to comment Share on other sites More sharing options...
Lineker's Left Foot Posted 9 March 2007 Share Posted 9 March 2007 Yes Mr Picky. It could well be,couldnt get there first target so have to set there sights lower. No I don't think so, because the head of their consortium is a Cov fan apparently - read it in that crap rag called the Evening Telegraph. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.