The mammoth sum Coventry City owners Sisu would need to walk away without loss (3 Viewers)

olderskyblue

Well-Known Member
All 3 I'm sure have equal understanding. It's how they interpret information.

The article is clearly very strange. It's been done with a purpose - what and why the CT printed it I'm not dure

I guess the obvious purpose is so Tim can voice those figures at the Trust meeting... that maybe too obvious though. Given the CT's recent campaigns, it does seem odd. And I don't buy that they're trying to get into CCFC's good books.
 

oldfiver

Well-Known Member
I guess the obvious purpose is so Tim can voice those figures at the Trust meeting... that maybe too obvious though. Given the CT's recent campaigns, it does seem odd. And I don't buy that they're trying to get into CCFC's good books.

I assume they are not the CCFC good accounts books :banghead:
 

oldfiver

Well-Known Member
I have a degree in accountancy but found statutory reporting so dull respect to those that do it as a career but wasn't for me.

Was dull respect a freudian slip?

For the record - I do not engage in Statutory Reporting either - but understand what is required :emoji_nerd:
 

Paxman II

Well-Known Member
You are incorrect when you say I am angry, I don't wish to offend anyone or call them out. I am upset that in crude terms the price of a pie is an issue or whether the playing budget is up to scratch. Those should be the issues a normal clubs fans are asking, not one where the perceived business model success equates to the club being destroyed.
I have no malice towards any poster nor would I post regarding the intellect of any poster but I am of the opinion that we are long past whether the price of a cup of tea has any relevance or even if we win a game of football tomorrow or at Wembley.
All things considered though I accept your points and hope that you will note that my concern is about the inertia displayed by our fans, we are watching it happen in front of our eyes and frankly are doing less than fuck all about it.
A meeting with Tim Fisher will yield more for him than it will for those interested in the future of the club. I could write the responses to the fans questions now and so could any of us.
He is totally teflon, should we be grateful for their support in keeping the club going? Are they our jack walker as I asked in my earlier post?

I totally agree with all you just said!
It is a very sad time for our beloved club. To have been relegated so early, I know mathematically not yet but well...we all have accepted it now.
We all are just in a malaise and almost nonplussed over the whole situation. TBH I'm not even annoyed by it anymore. For the older ones like you and me, who remember the 34 years of becoming an established piece of the furniture in the top flight, frustration is only amplified. I had the game on the radio the other day but after the second goal went in I just turned off and forgot all about it. I would never of thought I would ever lose so much interest. You have to wonder if we will ever get back to the top flight while we are still alive at this rate! Hang in there ridyadhskyblue it has to end soon because there is only so far it can fall and I sense SISU are getting close to their end.
 

oldfiver

Well-Known Member
All 3 I'm sure have equal understanding. It's how they interpret information.

Auditors are like Economists they are given 4 sets of Opinions to choose when deciding to sign off accounts
This unlike solicitors who have lots of opinions but will not decide which one to recommend
 

oldskyblue58

CCFC Finance Director
about time for the future of the club to get more worrying isn't it? all these stories usually means something is happening ...........
 

rupert_bear

Well-Known Member
I think the ground situation could be the straw which breaks the camels back, no ground, no golden share, no league football..
 

Nick

Administrator
I guess the obvious purpose is so Tim can voice those figures at the Trust meeting... that maybe too obvious though. Given the CT's recent campaigns, it does seem odd. And I don't buy that they're trying to get into CCFC's good books.

That's what I don't get, why give Fisher something to hide behind or play on?

Is it merely just to generate some traffic to the site? It has to beat the big issue seller being moved from a Tesco?
 

oldfiver

Well-Known Member
That's what I don't get, why give Fisher something to hide behind or play on?

Is it merely just to generate some traffic to the site? It has to beat the big issue seller being moved from a Tesco?

There is nothing to hide behind in the figures OSB has analysed them to death. If they 100% wrong it does not help the current position or going forward
 

saltaire bantam

Well-Known Member
When our club was sold to a German businessman last summer, I'd imagine it was for not more than a very few £m. L1, going places, 18k St holders but with no tangible assets beyond the players & supporters and football league status (We don't own VP, the Flamingo Land pension fund does) . Coventry FC is worth less than BCFC right now and will soon be worth very much less. At the end game it's the football league golden ticket that gives your "value", there is pretty much FA left apart from that.
 

oldskyblue58

CCFC Finance Director
That is what the CT wants you to think?
Whilst other parties point attention at other things....... point fingers at minor issues in the scheme of things that are given undue importance. Look at the bad guys over there don't look this way

There is a familiar pattern at work...... and I think there is news coming that the fans will rile against. Just the feeling I get.

Perhaps fisher will enlighten us all Monday.
 

martcov

Well-Known Member
Please look at my previous posts

The loans did not cost them anything, zip, nada, zilch, they are clever accountancy use of paper figures. All legal. In fact some(most) of what was converted relates to inter company loans that existed before SISU even bought in. But in any case the money they actually put in still exists as liabilities of the group. It is only when you look at a particular company in isolation that you get a distorted figure. That is why it is vital to look at the whole picture, the whole group, to see what is going on. Of course managing and exploiting debt is what SISU specialise in.

Had issued preference shares represented actual cash in to the business it would show up on the cash flow statements. Had loans been received to the tune of £65m they would have shown up on the cash flow statements before they got converted to pref shares

If they sold the preference shares of £65m for £1 they would be in profit because the preference shares cost them nothing in the first place.

One problem SISU have with this group set up is that the £28m invested by their investors was invested through SBS&L not Otium (which is CCFC) So sell Otium and there is no way to include the SBS&L £28m in the deal.............. unless the purchaser agrees to take the liability, or the preference shares over - frankly be mad to do that. Makes Otium so toxic as to be unsaleable to a third party in my opinion and to make Otium something SBS&L can not get rid or let go of.

The preference shares are smoke screen really

Yes, I agree the whole thing was a headline grabber. 101 million... it is this guys take of the 65 million... it is irrelevant anyway. No-one is going to give 65 million for these non voting shares. Joy was called "the queen of debt" at some stage. I would say this is one reason why.
 

dongonzalos

Well-Known Member
You do know CCFC was £60m in debt while at Highfield Road ?

So does that mean that they have not invested other people's money badly?
Does that mean that they have not made bad decisions ever since abdcontinue todo so?
Does that mean that they have not fallen out with everyone we need help from?
Does that mean that I am not correct when I say it's doesn't matter whether it is 30,60 or 100 million. They won't get what they want, so we just have to suffer until they face up to it.
 

oldfiver

Well-Known Member
So does that mean that they have not invested other people's money badly?
Does that mean that they have not made bad decisions ever since abdcontinue todo so?
Does that mean that they have not fallen out with everyone we need help from?
Does that mean that I am not correct when I say it's doesn't matter whether it is 30,60 or 100 million. They won't get what they want, so we just have to suffer until they face up to it.

The last line is exactly what I have been saying. However, they have not said what they want, so referring to historic figures and alleged past mis dealings in the current context is a waste of breath ( and words ) .
 

oldfiver

Well-Known Member
Whilst other parties point attention at other things....... point fingers at minor issues in the scheme of things that are given undue importance. Look at the bad guys over there don't look this way

There is a familiar pattern at work...... and I think there is news coming that the fans will rile against. Just the feeling I get.

Perhaps fisher will enlighten us all Monday.[/QUOTE

I do not follow any of this I am sorry.
What are these "feelings"?
 

dongonzalos

Well-Known Member

Have you ever heard the term a good time to bury bad news?
Whilst people are distracted by a sensational headline on the front pages. A few other decisions are made by government that would normally make the front pages and would upset the public, they only get a paragraph on page 9.
I think that is similar to what OSB means, look over there don't look here.
 

dongonzalos

Well-Known Member
The last line is exactly what I have been saying. However, they have not said what they want, so referring to historic figures and alleged past mis dealings in the current context is a waste of breath ( and words ) .

My point also is that the figures are irrelevant, as they won't walk away as they won't face up to it. So historic or current is pointless
 

Captain Dart

Well-Known Member
When our club was sold to a German businessman last summer, I'd imagine it was for not more than a very few £m. L1, going places, 18k St holders but with no tangible assets beyond the players & supporters and football league status (We don't own VP, the Flamingo Land pension fund does) . Coventry FC is worth less than BCFC right now and will soon be worth very much less. At the end game it's the football league golden ticket that gives your "value", there is pretty much FA left apart from that.
The single team town adds value too. At present there is no real competitor, Nuneaton, Bedworth, Warwick and Leamington are not Coventry and the next highest non-league club in Coventry is in tier 9.
 

oldfiver

Well-Known Member
Have you ever heard the term a good time to bury bad news?
Whilst people are distracted by a sensational headline on the front pages. A few other decisions are made by government that would normally make the front pages and would upset the public, they only get a paragraph on page 9.
I think that is similar to what OSB means, look over there don't look here.

Except he said
Look at the bad guys over there don't look this way
upload_2017-3-18_12-16-25.jpeg
 

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