Ah the JOY of it.......Joy Seppalla talks (1 Viewer)

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oakey

oakey

Well-Known Member
Put me down for £1000. I would buy a share of a fund that was reserved for player transfers and wages only, with full balance sheet annually of incomings, outgoings and overall wage structure.
SISU are the only deal in town. We, as fans, have to decide to work with them or walk away for, maybe, several years.
 
Nonleagueherewecome

Nonleagueherewecome

Well-Known Member
oldskyblue58 said:
really getting tired of repeating this..........

What is on offer is the shares in ACL. That gets you 50% of ACL not the stadium. It does not entitle you to 50% of the income of the stadium. It entitles you to dividends which cant be paid because (a) it would be illegal as negative balance sheet and (b) the owners of ACL have agreed to pay off all borrowings of ACL before taking income.

Buying 50% of ACL gives you NO INCOME ....... NO Revenues from, food/drink sales, advertising, sponsors, concerts, parking, olympics,
Click to expand...

So to get the matchday revenues, we need to buy 100% of the stadium then? Which is what SISU originally stated they would do, after all..and again in the Winter, KD said they were trying to get50%-what was the point of that? It's all or nothing, right?
 
T

thorninmyside

New Member
oldskyblue58 said:
really getting tired of repeating this..........

What is on offer is the shares in ACL. That gets you 50% of ACL not the stadium. It does not entitle you to 50% of the income of the stadium. It entitles you to dividends which cant be paid because (a) it would be illegal as negative balance sheet and (b) the owners of ACL have agreed to pay off all borrowings of ACL before taking income.

Buying 50% of ACL gives you NO INCOME ....... NO Revenues from, food/drink sales, advertising, sponsors, concerts, parking, olympics,
Click to expand...

and surely that is what she is relating to. acl was always a bad idea for the club. we need to own the stadium
 
oldskyblue58

oldskyblue58

CCFC Finance Director
yes, no point given current circumstances, and yes NLHWC

there is a third option but I cant see why they would,..... buy into ACL and take a long term view of the project. Actually link in with the stadium prove worth and work together with extra income in 15 years. But that doesnt solve any of the current problems and locks up money with no return for 15 years. So I discount it
 
B

Brighton Sky Blue

Well-Known Member
We have around £40 million left to pay on our lease. The Ricoh mortgage is likely to be bigger and has around 15 years' of annual profit remaining in order to be paid off. In order to own the STADIUM, we would have to pay off both as well as buying out ACL. That would require a billionaire and nothing else.
 
Delboycov

Delboycov

Active Member
italiahorse said:
Lets hope so as nobody else can.
Next season is the chance to prove themselves. They have stated they were wrong, they don't want Administration so we start on a level playing field regards points, if we don't go into administration then SISU are supporting us financially. Lets forget the past and get on with it. There is no other choice so go and get your season ticket (on DD or credit card) and get behind the lads. I feel quite up beat that SISU are talking about the future. True fans like myself have bought our tickets already.
Click to expand...

"True fans like myself"....I think that says it all. You were doing alright until then but you lost so much credibility with that statement. I have bought 2 actually although unlike yourself I don't see myself as being any more of a "true" fan than those that are waiting to see whether there is any substance to the latest PR exercise. I've heard too many unfulfilled promises and downright deceit from these jokers to be taken in again....I'll leave that to gullible people like yourself
 
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oldskyblue58

oldskyblue58

CCFC Finance Director
thorninmyside said:
and surely that is what she is relating to. acl was always a bad idea for the club. we need to own the stadium
Click to expand...

Everybody knows ideally the club and stadium should be one - but we need to deal with the realities not just demand that the football club should own it.

There is more to the Ricoh than CCFC. Of course in the perfect world the club would own it but the club screwed up .... no one else the club...... and all but went bust. There would be no stadium without the council and charity..... and the reason the stadium has an international reputation is because of ACL not because CCFC play there.

Its all well and good saying we need to own the stadium ...... show me the money or more importantly show ACL Council and charity.

How much do you think it would cost in interest or return on investment ...... north of £50m ...... then work out the interest at say 5%. ACL currently makes £500K profit after being very well run.

SISU .... CCFC ..... are not able to buy the stadium because they dont have the money. There are very good legal reasons why the council would expect full value for the freehold or why buying ACL would require full value too.

No good SISU whingeing they should have the stadium - put up or shut up. No good you saying we need to own the stadium if we dont have the money to buy it. Please dont say they should get it on the cheap, neither the council or charity can accept that.
 
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SkyBlueUkeman

SkyBlueUkeman

New Member
I think that the fact that we have finally heard something from them has given them a little respect from me, only a little I might add.

Although a worrying amount of talk about the stadium and not much about the actual club.
 
Sky Blues

Sky Blues

Active Member
So basically, we're screwed right?! If I'm reading this right and there are no income streams realistically available to us (other than appealing to fan to hand over money for what seems to me to be a worthless stake), then the only option is to cut costs until we break even, surely? I don't have the latest accounts so I don't know the answer, but I guess you don't get a lot of football team for our gate receipts minus our rent and other regular costs.
 
B

Brighton Sky Blue

Well-Known Member
A fans' forum with her and others from SISU HQ would be the only thing for them to raise slightly in my estimation.
 
coundonskyblue

coundonskyblue

New Member
<p>
oldskyblue58 said:
really getting tired of repeating this..........</p>
<p>&nbsp;</p>
<p>What is on offer is the shares in ACL. That gets you 50% of ACL not the stadium. It does not entitle you to 50% of the income of the stadium. It entitles you to dividends which cant be paid because (a) it would be illegal as negative balance sheet and (b) the owners of ACL have agreed to pay off all borrowings of ACL before taking income. </p>
<p>&nbsp;</p>
<p>Buying 50% of ACL gives you NO INCOME ....... NO Revenues from, food/drink sales, advertising, sponsors, concerts, parking, olympics,
Click to expand...
</p>
<p>&nbsp;</p>

It seems to be the person that needs it repeating to the most is joy!

Did you hear the chairman of the higgs trust this morning? He was saying neither them or the council have ever made any money out of the Ricoh so why would ccfc? Until acl have repaid their loan its pointless owning the Ricoh & frankly if sisu can't see that im concerned about their ability to run a business like city.
 
Paxman II

Paxman II

Well-Known Member
Have to take what she says at face value here. Some honesty in those answers and if we are also honest and capable for a moment of putting 'hate' to one side, it is simply answers we have known were coming long ago. There really is (as I've said before) no other choice for SISU.

Exactly how they will invest and how much in the club before next season starts is debatable but invest they will have to do if she wants to "bounce back up to the championship".

The '£40m' investment is contentious in so many ways and not exactly true. However let that be for now as serious investment was made and returns have been zero.

They have a deal for a share in ACL and have never 'invested' to make that happen instead selling the interest to fund the club. That would be among some of the mistakes she was alluding to.

Now they need the council to get more sympathetic to the cause and to a large extent that is correct. It's no good the council deciding who they will work with, the fact remains SISU are the only option and have been getting the house in order. The council can assist and should assist. But lets be clear there can be no 'freebies' here. Whatever is decided must be transparent and benefit the club and eventually pay back whatever is agreed to in the longer term. SISU can show good faith here by some additional funding that they simply will have to find all recoverable over the long term she talks about.

It's always been clear Hoffman and his merry band of investors would never consider anything without the Ricoh on the table. Eventually the council must devise a plan for this but you can not expect SISU to step aside and let someone else achieve that and she ir right to stand ground on that. They made all the investment and need the avenue of recovery.
Issuing shares is just another approach that SISU have come up with to raise funding but is I fear going to fall on many deaf ears for now. They must learn that if they intend to stay, protect the investment they made and achieve some ownership in the stadium they will need to put up further investment themselves and that would prove to everyone they meant what they say and the response from the Council/ACL/Higgs will then be a positive one.
The council too can make a gesture of good faith and agree a fairer rent - absolutely but not before SISU's words are submitted into writing as outlined above.
 
L

Lord_Nampil

Well-Known Member
We've had to much Bull Shit for this to follow suit i think finally they may have decided they need to have a more hands on approach with the club! One thing i will say words are great but i see no action the future is very bleak! If we see the actions then we may just may turn a corner!!!
 
V

valiant15

New Member
I will never believe a word any of these leeches say,a carefully worded statement wont wash with me,unlike some it may seem. They've treated us like dogshit for the last 4 years. I don't think the council should reduce the rent,a lot of city fans don't live in coventry so why should my council tax go towards this lot,it ok for the out of towners saying reduce the rent.
 
C

canleykid

New Member
Sisu took all the fans shares and now the cheeky bitch wants fans to buy shares in the club is she on drugs,you can see it now fans buy shares and six months down the line they ask for them back for nothing fuck off sisu you thieving bastards we won't fall for this again
 
Nonleagueherewecome

Nonleagueherewecome

Well-Known Member
valiant15 said:
I will never believe a word any of these leeches say,a carefully worded statement wont wash with me,unlike some it may seem. They've treated us like dogshit for the last 4 years. I don't think the council should reduce the rent,a lot of city fans don't live in coventry so why should my council tax go towards this lot,it ok for the out of towners saying reduce the rent.
Click to expand...

I've got to say, I agree. This is the equivalent of a bad husband abusing his wife for years, shagging around behind her back, beating her, and being horrible to her mother. Then every so often, he gets drunk and buys her a box of chocolates, expecting it to make up for years of neglect and hurt. Well get real, Joy: we've been hurt, and this little gesture after five years is not enough! We want actions-we want to see that you've really changed, deep down, and aren't just saying this 'cos you want something (like to make us all stakeholders?).

Sorry, that all got a bit effeminate. Guess that must be the effect her balls of steel have on men?
 
B

Brighton Sky Blue

Well-Known Member
Nonleagueherewecome said:
I've got to say, I agree. This is the equivalent of a bad husband abusing his wife for years, shagging around behind her back, beating her, and being horrible to her mother. Then every so often, he gets drunk and buys her a box of chocolates, expecting it to make up for years of neglect and hurt. Well get real, Joy: we've been hurt, and this little gesture after five years is not enough! We want actions-we want to see that you've really changed, deep down, and aren't just saying this 'cos you want something (like to make us all stakeholders?).

Sorry, that all got a bit effeminate. Guess that must be the effect her balls of steel have on men?
Click to expand...

What a thought, that people could pay as much as say £1k for a share, SISU bag the cash then liquidate the club?
 
M

Mumford and Daughter

New Member
torchomatic said:
You're right, of course. However this is the first time we've heard from HER. Again, you may be right, it maybe all bullshit. But, like I said WE HAVE NO CHOICE.

I don't ever want to go into admin as we would most likely never recover. Only a fool would wish for that, in my opinion.
Click to expand...

And no investment from sisu will result in the same a downward spiral which has shown the last 5 years , if you want that to carry on then your the fool
 
torchomatic

torchomatic

Well-Known Member
And I don't agree. If we don't reduce the rent then something else will have to give. The playing squad?

And if it wasn't for us fans who don't live in Coventry the the club would have gone bust years ago on gates of about 5000!!

Out of towners indeed!

valiant15 said:
I will never believe a word any of these leeches say,a carefully worded statement wont wash with me,unlike some it may seem. They've treated us like dogshit for the last 4 years. I don't think the council should reduce the rent,a lot of city fans don't live in coventry so why should my council tax go towards this lot,it ok for the out of towners saying reduce the rent.
Click to expand...
 
T

thorninmyside

New Member
oldskyblue58 said:
Everybody knows ideally the club and stadium should be one - but we need to deal with the realities not just demand that the football club should own it.

There is more to the Ricoh than CCFC. Of course in the perfect world the club would own it but the club screwed up .... no one else the club...... and all but went bust. There would be no stadium without the council and charity..... and the reason the stadium has an international reputation is because of ACL not because CCFC play there.

Its all well and good saying we need to own the stadium ...... show me the money or more importantly show ACL Council and charity.

How much do you think it would cost in interest or return on investment ...... north of £50m ...... then work out the interest at say 5%. ACL currently makes £500K profit after being very well run.

SISU .... CCFC ..... are not able to buy the stadium because they dont have the money. There are very good legal reasons why the council would expect full value for the freehold or why buying ACL would require full value too.

No good SISU whingeing they should have the stadium - put up or shut up. No good you saying we need to own the stadium if we dont have the money to buy it. Please dont say they should get it on the cheap, neither the council or charity can accept that.
Click to expand...

yes thats a fair point osb. lets hope something can be sorted and soon because i just have a very strong feeling sisu will not mess around... i can see them walking away from the ricoh before they consider walking away from the club... like darlington.
 
Nonleagueherewecome

Nonleagueherewecome

Well-Known Member
It's a totally Radio Rental agreement :D
 
ccfcway

ccfcway

Well-Known Member
another fans forum in London, where no-one is aloud to say anything would be the best thing i think

;)
 
oakey

oakey

Well-Known Member
In 1987 I went to the 3 rounds before the cup final and every home game. I didn't have a season ticket.
When we reached the final the club promised Wembley tickets to all who bought a season ticket for the following season OR you could collect vouchers and queue for what was left.
So, everyone I know said, < you haven't got that sort of money for a season ticket. You've been to every match, the club will make sure there are enough left. Don't give them money you don't have etc >
You can guess the rest, I was left with no ticket, no cup final, despite 15 years support then and 25 more since.

The moral is:
support your club while you still can & don't let anyone persuade you to wait for better times. Follow your heart and buy a season ticket.
 
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