Mucca Mad Boys
Well-Known Member
Oh ok, I just asking out of curiosity, I heard Christie to Newcastle and Stoke last season but they have cooled their interest, or have they? Murphy to Brum, that'd be a good move for him.
CCFC Appoint Restructing Experts (13 Viewers)
- Thread starter torchomatic
- Start date
Oh ok, I just asking out of curiosity, I heard Christie to Newcastle and Stoke last season but they have cooled their interest, or have they? Murphy to Brum, that'd be a good move for him.
To be honest I've anticipated a sale or two come January regardless of current situation,the predicted loss of £3M. has to be coverd somehow so we'd need to raise minimum £1M. anyway.However offset the Cup income and that could have potentially been mittigated but for lower than expected gates and change of regime 5 loan signings etc.
dongonzalos
Well-Known Member
Maybe they are in to free up the cash to do the rent deal and get DMC. Why were SISU chatting to ACL regarding their shares if they are that skint!
Lord_Nampil
Well-Known Member
Didn't they say they were predicting gates of between 10 and 11K ?? What we currently getting???
We also sold, Keogh and Bigi in the summer for fees would cover 2/3rds of the £3 million mark you have mentioned anyway.
Think the problem is every one hears a story and fears the worse and produces a situation which everyone else thinks is true.
The fact of the matter is know one knows what this means again just paper talk untill we hear conformation from the club.
Sky Blues
Active Member
I can't help but suspect this is another play/bluff in rent dispute. The Nene Park threat didn't really work, so now they're lobbing this out there, I'm guessing.
Didn't ACL's offer reportedly include giving the club 10 years to pay back its arrears? That would be £120,000 a year or £10,000 a month. I'm guessing the club, if it budgets for any FA Cup income, would be sensible to budget for one third round game against League 1 or 2 level opposition and therefore a game against Spurs must surely be a windfall that could cover that £120,000 this year?
Didn't ACL's offer reportedly include giving the club 10 years to pay back its arrears? That would be £120,000 a year or £10,000 a month. I'm guessing the club, if it budgets for any FA Cup income, would be sensible to budget for one third round game against League 1 or 2 level opposition and therefore a game against Spurs must surely be a windfall that could cover that £120,000 this year?
Grendel
Well-Known Member
I think they would take that. As we have paid about £8 million more than the market rate since moving in we should probably have it free for the next 30 years.
coundonskyblue
New Member
and then who pays off yorkshire bank?
I know that it is going back over old ground but Sisu should have re-negotiated the rent BEFORE agreeing to buy the club. The fact that they did not do so tells me that it was not a problem at that stage. Since then they have suffered a serious loss of income WHY? Yes, you have guessed correctly......they allowed us to get relegated. No sympathy I'm afraid. But looking to the future....Yes, we have to get this rent issue sorted but PLEASE no sympathy for this shower of sh-t.
I also take issue with those saying that the appointment of MR was a master stroke by Sisu. Do I not recall reading somewhere that he was not their first choice? or did I dream that? If he was not, then they have hit on a successful formula by default.......Rant over.
dongonzalos
Well-Known Member
Agree, before mr got the job it leaked out that inces wage demands were too high
elephanttears
New Member
Im with Sisu here, im sick of us not owning the ricoh outright and it making a profit off the back of our name. If the football club was not there stadium wouldn't be there and morally it belongs to us CCFC. I couldn't care less if ACL went bust why would i or should any of us. I dont think we should give them a penny until the last possible second and should not accept anything they offer until we feel like it. Lets face it if we left the stadium it would be knocked down as there would be no use for it.
In agree with most of that. BUT Sisu did agree to pay the rent so why should they be allowed to get away from that agreement?
dongonzalos
Well-Known Member
I would guess that would then end up as 1.2 million if we did it that way.
elephanttears
New Member
I know what your saying, i wish they didn't own us but they do. My hate though at the minute is saved for anyone who is making money off the back of my club. My hate for sisu is laying dormant, for now!
elephanttears
New Member
We need to get in our heads though its not Sisu getting away with the rent, its CCFC our club and if we can get away with it so be it. Who are ACL to us, nothing.
coundonskyblue
New Member
<p>
Those of us who live within the city boundaries own half of ACL so they definitely are not just nothing.
Those of us who live within the city boundaries own half of ACL so they definitely are not just nothing.
mattylad
Member
I'm afraid people on this board are only part correct when they say Cooper Parry specialise in administration.
Cooper Parry are far more in the market of fire sales of failing companies through to full insolvencey recovery.
The truth is there is nothing to really sell or restructure and this would not be done as a PR move...This is only bad news.
thought i would add this......
Tyrone Courtman
Position: Partner, Recovery
What’s your main area of expertise?
I am a Chartered Accountant and Licensed Insolvency Practitioner. I have over 25 years’ experience advising and helping owner managed businesses to survive and prosper. I help management, major financial institutions, creditors, employees, private investors, pension funds and business owners to deal with financial and operational crisis in their businesses and those of their customers. Typically I will assist management in developing and affecting a strategy to deal with the commercial imperatives and will assist in effecting a turnaround, some form of financial or operational restructuring, conduct a distressed M&A exercise or alternatively look to affect a strategy that will maximise the recovery of assets in distress.
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elephanttears
New Member
When can i claim the cash value of my share i live in the within boundaries?
Quite right Coundon. I'm sure that nobody intended to insult you. Used to go to primary school in Coundon (Banks Road|)
coundonskyblue
New Member
<p>
Once ACL have paid off Yorkshire bank, they can pay a dividend to the council. At that point you will receive your share in the form of lower council tax.
Once ACL have paid off Yorkshire bank, they can pay a dividend to the council. At that point you will receive your share in the form of lower council tax.
elephanttears
New Member
So yet more profit off the back of the football club is taken away from it. Hence my argument from the start. Finished.
coundonskyblue
New Member
<p>
Who do you think should pay off Yorkshire bank then? Remember this is the real world, a £20m mortgage doesn't just go away because you dont like it.
Who do you think should pay off Yorkshire bank then? Remember this is the real world, a £20m mortgage doesn't just go away because you dont like it.
H
Harry Grout
Guest
Restructuring experts, who next? How many more consultants, advisers, billy bollox merchants and general hangers on do we need? As someone else has said, none of them will be offering their 'services' for nothing.
Any chance we will ever return to being a football club where the team and results takes centre stage? Just when things are really looking up on the pitch, we have this never-ending soap opera taking place behind the scenes. Shameful SISU for presiding over this daily farce.
Well done MR and the lads in the face of adversity.
SISU FO
Any chance we will ever return to being a football club where the team and results takes centre stage? Just when things are really looking up on the pitch, we have this never-ending soap opera taking place behind the scenes. Shameful SISU for presiding over this daily farce.
Well done MR and the lads in the face of adversity.
SISU FO
Sky Blues
Active Member
In about 25 years, or whenever the loan is finally paid off - which might be even further away if Yorkshire Bank restructures it to allow ACL to offer CCFC a lower annual rent...
elephanttears
New Member
CCFC will take on the £15m mortgage when we own the stadium and receive 100% of the revenue we should be getting. As a CCFC fan i certainly dont want profit from my football club getting spent on reduced council tax payments thats a fact. Its hideous.
coundonskyblue
New Member
<p>
And if ccfc pay a fair price for the stadium then I would be happy for the club to be in that situation. No city fan disputes that the club should own the ground, its the way sisu/ccfc have gone about it that I have a problem with.
And if ccfc pay a fair price for the stadium then I would be happy for the club to be in that situation. No city fan disputes that the club should own the ground, its the way sisu/ccfc have gone about it that I have a problem with.
Sky Blues
Active Member
If this report is accurate then, yes, he would not have been brought in as a PR move, but the news coming out now that he is working on this does seem like calculated move to increase the pressure, PR or otherwise, on ACL.
His LinkedIn profile does suggest he is equally experienced at restructuring or insolvency. It would be further confirmation that CCFC's finances are not healthy - but we already know that don't we!
Let's hope that mediation and negotiated settlement talent is the one most employed by Sisu!
elephanttears
New Member
Since the Ricoh was built and we have been tenants we have been had over big time. I dont care how Sisu play this as long as it gets us the best deal possible. I actually think we hold all the cards here because if CCFC does not attach its name to the Ricoh the stadium collapses.
italiahorse
Well-Known Member
1.2M x 25 years = 37.5M
We could almost buy the stadium twice over without even taking food, drink and parking into consideration.
ACL are robbing us blind.
deanocity3
New Member
What input does the Company Ricoh have in the stadium finances ?
coundonskyblue
New Member
<p>
Ccfc asked ACL to create that contract. The club has only itself to blame for the mess its in.
Ive no problem with the club negotiating, but to just refuse to pay is going down a dangerous path. Ccfc will get a reputation for not honouring contracts, what players will want to come here if they think the owners will just refuse to pay them if they feel they shouldn't?
The clubs credit rating will also go through the floor, making it difficult to deal with suppliers and to borrow money.
Tim Fisher needs to realise that the law isn't on his side, and go back to acl on his knees begging for a reduction.
Ccfc asked ACL to create that contract. The club has only itself to blame for the mess its in.
Ive no problem with the club negotiating, but to just refuse to pay is going down a dangerous path. Ccfc will get a reputation for not honouring contracts, what players will want to come here if they think the owners will just refuse to pay them if they feel they shouldn't?
The clubs credit rating will also go through the floor, making it difficult to deal with suppliers and to borrow money.
Tim Fisher needs to realise that the law isn't on his side, and go back to acl on his knees begging for a reduction.