Joe Elliott is attending the Sky Blues Kenilworth Supporters Club tomorrow -Wednesday

[torchomatic]

That would be a shame. I think Pressley will be good for us.

They refused to answer that question. Said it isn't fair on anyone at the club to comment on their position.

(Impression I got was they may have someone else in mind).

 

[Sick Boy]

The Chinese takeover may well have happened; the chairman at the time (can't think of his name) said he thought he could get the deal done (the deal on un-headed paper), however after a confidential meeting down in London someone from the meeting ran straight to the Sun newspaper, who gave an exclusive on Allardyce being involved etc. The trust with the Chinese was at that point lost, and they walked away.

How would a deal have worked if SA was a director of the company?

 

[rupert_bear]

That would be a shame. I think Pressley will be good for us.

Don't think for one minute anyone other than Pressley is lined up as said, will all depend on results imo

 

[@richh87]

Joe Elliott is attending the Sky Blues Kenilworth Supporters Club tomorrow -Wed

Was at meeting, did have question about debt being 60million but they couldn't/wouldn't give definite answer due to protocol. I asked one of the just men two on their own if the Golden Share was with ccfc ltd and sisu or anyone bought ltd do they have to pass the "fit and proper" test, with what i detected to be a little glint in his eye he said yes. The whereabouts of this Share seems very crucial.

On yeah - also the indication was that a chunk of the debt owed was in fact owed from the outset, as the rights to the debts owed by CCFC to Directors was transferred to SISU's ownership as part of the deal.

Makes sense I guess. So close to admin at the time that the Directors would lose most if not all of what they were owed, so for a small sum they could pass that debt over - and SISU could try and reclaim it at a later date.

 

[SydneySkyBlue]

One person asked how long Haskell would be willing to 'hang around'. GH agreed that while Preston is very serious about owning the club, he (GH) will always be concerned that he might lose interest as, after all, he's not a City fan like us.

JE did emphasise how impressive Haskell's knowledge of British football is and his understanding of the game and the way football clubs work over here; pointing out that he has very high up contacts from the football world in London who he has taken and is taking advice from.

 

[DazzleTommyDazzle]

He also said there is no way that it should be taking this long to find out where the golden share lies and how the rest of the structure is laid out.

Correct, it shouldn't take is long. Surely to find the golden share is a 5 minute phone call.

This is clearly the key question and it does seem genuinely odd that it is taking so long to resolve.

We understand that the share was in Ltd - if, as it appears, there are claims that it has been transferred to Holdings, there must be documentation supporting this supposed transfer that can be verified or otherwise. If there is no documentation, it would be reasonable to conclude that it hasn't moved.

How long can it take to "audit" that?

 

[Sick Boy]

On yeah - also the indication was that a chunk of the debt owed was in fact owed from the outset, as the rights to the debts owed by CCFC to Directors was transferred to SISU's ownership as part of the deal.

Makes sense I guess. So close to admin at the time that the Directors would lose most if not all of what they were owed, so for a small sum they could pass that debt over - and SISU could try and reclaim it at a later date.

When he stated that we were building a good team under Ranson, did he say why Ranson claimed the club was debt free?

 

[@richh87]

Joe Elliott is attending the Sky Blues Kenilworth Supporters Club tomorrow -Wed

How would a deal have worked if SA was a director of the company?

He mentioned SA, but didn't go into detail as people's rights to confidentiality have to be respected etc. Am I right in thinking at the time that Big Sam was out of work?

 

[DazzleTommyDazzle]

How would a deal have worked if SA was a director of the company?

Pretty simple.

The deal would have been done with a condition precedent i.e. SA would have resigned from the company before the deal was concluded so as to meet the relevant regulations.

 

[SydneySkyBlue]

On yeah - also the indication was that a chunk of the debt owed was in fact owed from the outset, as the rights to the debts owed by CCFC to Directors was transferred to SISU's ownership as part of the deal.

Makes sense I guess. So close to admin at the time that the Directors would lose most if not all of what they were owed, so for a small sum they could pass that debt over - and SISU could try and reclaim it at a later date.

Yes. He said that the statements made by SISU that we were "debt free" really meant we were debt free other than those monies owed to SISU itself (who had taken on the debt).

 

[rupert_bear]

When he stated that we were building a good team under Ranson, did he say why Ranson claimed the club was debt free?

Yes in answering my question and all i can say it is just moving debt around from one business to another, it hadn't just vanished into thin air as we perhaps thought

 

[DazzleTommyDazzle]

When he stated that we were building a good team under Ranson, did he say why Ranson claimed the club was debt free?

Ranson very occasionally explained that he was talking about "external debt" i.e. excluding that owed to the owners. Too often though, he just used the phrase "debt free" which was simplistic and frankly a bit silly.

 

[Sick Boy]

He mentioned SA, but didn't go into detail as people's rights to confidentiality have to be respected etc. Am I right in thinking at the time that Big Sam was out of work?

No, I am pretty sure he was the West Ham manager?

 

[@richh87]

Joe Elliott is attending the Sky Blues Kenilworth Supporters Club tomorrow -Wed

When he stated that we were building a good team under Ranson, did he say why Ranson claimed the club was debt free?

He said it was debt free as far as external creditors are concerned.

(The rest is at the mercy of SISU's accountants)

 

[Lord_Nampil]

Did they mention if there was a Plan B if Plan A wasn't going to work?

 

[Sick Boy]

Ranson very occasionally explained that he was talking about "external debt" i.e. excluding that owed to the owners. Too often though, he just used the phrase "debt free" which was simplistic and frankly a bit silly.

I am not sure I remember him explaining it!

 

[DazzleTommyDazzle]

No, I am pretty sure he was the West Ham manager?

I thought he had just become involved with West Ham which was why it was an issue - but I may well be mis-remembering.

 

[Sick Boy]

Pretty simple.

The deal would have been done with a condition precedent i.e. SA would have resigned from the company before the deal was concluded so as to meet the relevant regulations.

Maybe I am a little more cynical than you

 

[@richh87]

Joe Elliott is attending the Sky Blues Kenilworth Supporters Club tomorrow -Wed

Sad that seemingly Deleui indicated a deal could be done based on the offer on non-headed paper, but that someone ran to the press straight from the meeting with the Chinese investors.

 

[DazzleTommyDazzle]

I am not sure I remember him explaining it!

I think I only saw it once - although as far as the printed word is concerned, our local journal doesn't always go in for the more detailed reporting!

 

[DazzleTommyDazzle]

Maybe I am a little more cynical than you

Happy to be converted - what is the basis of your cynicism?

 

[@richh87]

Joe Elliott is attending the Sky Blues Kenilworth Supporters Club tomorrow -Wed

Did they mention if there was a Plan B if Plan A wasn't going to work?

They said that if it turns out that the golden share is in CCFC Holdings rather than Ltd (where the Football League think it is), then the whole thing will be off, as that company isn't in admin.

 

[DazzleTommyDazzle]

Sad that seemingly Deleui indicated a deal could be done based on the offer on non-headed paper, but that someone ran to the press straight from the meeting with the Chinese investors.

I remember the fuss about the lack of headed paper at the time.

Always thought that as excuses went it was the biggest pile of *****

 

[@richh87]

Joe Elliott is attending the Sky Blues Kenilworth Supporters Club tomorrow -Wed

I remember the fuss about the lack of headed paper at the time.

Always thought that as excuses went it was the biggest pile of *****

Agreed, a childish load of crap. SISU must take us all for idiots.

 

[Lord_Nampil]

They said that if it turns out that the golden share is in CCFC Holdings rather than Ltd (where the Football League think it is), then the whole thing will be off, as that company isn't in admin.

Does that matter? If u want to buy something you speak to the owners, or is that not what you would do....

 

[SydneySkyBlue]

Does that matter? If u want to buy something you speak to the owners, or is that not what you would do....

We would be back to square one though as SISU would still be owners of the club. They will request their money back (or some other unrealistic proposal) and I'm assuming Haskell is not willing to do that as JE has said they have been taking to him for 2 and a half years! (Correct me if I'm wrong on that last bit Rich).

 

[torchomatic]

You know, I'm trying to think what "unfounded allegation" I've levelled at Hoffman. :thinking about:

Now, you won't believe this, but I'm sure people will come along and back me up who have been; but Gary Hoffman told us that he comes on this site because he's a fan and wants to hear people's views. He also said that Grendel, Torch, and LordSummerisle seem to make unfounded allegations against him.

(He's got a point there; and they are clearly arseholes).

 

[DazzleTommyDazzle]

Does that matter? If u want to buy something you speak to the owners, or is that not what you would do....

You speak to the owners if you believe they are (seems appropriate to quote Mrs T on her funeral day) "people you can do business with".

It seems clear that whatever the rights and wrongs of the situation, there are a number of people who do not believe that our owners fall into that category.

 

[LarryGrayson]

You know, I'm trying to think what "unfounded allegation" I've levelled at Hoffman. :thinking about:

id still lick to no why he got involved with sisu at all if there as bad as sum people here seem to think

 

[SydneySkyBlue]

You speak to the owners if you believe they are (seems appropriate to quote Mrs T on her funeral day) "people you can do business with".

It seems clear that whatever the rights and wrongs of the situation, there are a number of people who do not believe that our owners fall into that category.

This too of course!

 

[DazzleTommyDazzle]

id still lick to no why he got involved with sisu at all if there as bad as sum people here seem to think

Speaking for myself, I gave them a chance until their behaviour showed me that they no longer deserved it.

I can't speak for GH, but my guess is that his reasoning was similar and was probably reinforced by "promises" (business plans, strategies etc) given to him when he joined.

 

[SydneySkyBlue]

id still lick to no why he got involved with sisu at all if there as bad as sum people here seem to think

He said SISU were an entity he knew nothing of actually!

 

[Lord_Nampil]

We would be back to square one though as SISU would still be owners of the club. They will request their money back (or some other unrealistic proposal) and I'm assuming Haskell is not willing to do that as JE has said they have been taking to him for 2 and a half years! (Correct me if I'm wrong on that last bit Rich).

How do we know they will request the money back if they haven't had an offer for the club, it's great you and others are feeding back the information from meetings like this, just have a feeling fans that have already been beaten into humiliation could finally see the last glimmer of hope going, and with it, it could be the club going as well!

 

[SydneySkyBlue]

I imagine that both he, Ranson and JE bought into the idea like we did.

I mean, the strategy was a good one until it changed and we began being asset-stripped.

 

[LarryGrayson]

He said SISU were an entity he knew nothing of actually!

well wut the hell wud you do gettin involved with people you no nowt of an why does that make his new choice better