Did SISU part with £400,000 for McDonald ? (9 Viewers)

[Lets all sing together]

http://www.kentnews.co.uk/sport/cody_mcdonald_deal_nets_cash_bonus_for_dartford_1_1011473

 

---

[Jimthor]

Of course they didn't. We paid £400k for him, but we also sold Turner for £750k on the same day!

 

[Lets all sing together]

Yes that's my point ,they spent something rather than banked it.

 

[SkyBlueScottie]

Well we dont know, Dartford dont know either....

 

[oldskyblue58]

player purchases and sales are completed through CCFC limited. SISU didnt pay for this the club did

 

[Macca]

I reckon they stole it from a disabled orphan, wouldn't put it past them

 

[Lets all sing together]

player purchases and sales are completed through CCFC limited. SISU didnt pay for this the club did

So the Turner cash has gone to the club and not SISU then ? what's the difference ? and why sell players if they don't get the cash ? and if they do get the cash then they have parted with £400k which is my original point, regardless of if it was a chunk of the Turner sale to me it seems they have spent rather than banked, have they not ?

 

[kg82]

The thing is, that figure will probably represent add ons etc etc and will not be the initial fee paid out. So Norwich may never get the full £400k and Dartford may not get their full amount either. If the fee's correct then the initial fee paid out could be anywhere between £100k-£200k.

 

[shmmeee]

So the Turner cash has gone to the club and not SISU then ? what's the difference ? and why sell players if they don't get the cash ? and if they do get the cash then they have parted with £400k which is my original point, regardless of if it was a chunk of the Turner sale to me it seems they have spent rather than banked, have they not ?

CCFC do get the cash. They use it to pay wages, heating and electric bills, advertising, rent, etc. etc. Player transfers are only one expenditure and one that isn't vital to keeping the club alive in the short term. It's not "banked" it's spent.

Disagree with the intention to cut costs in an attempt to break even by all means, I do myself to some extent. But please try to leave the emotive language out of it.

 

[Nonleagueherewecome]

So the Turner cash has gone to the club and not SISU then ? what's the difference ? and why sell players if they don't get the cash ? and if they do get the cash then they have parted with £400k which is my original point, regardless of if it was a chunk of the Turner sale to me it seems they have spent rather than banked, have they not ?

Well that's one way of looking at it I suppose! Another would be to say "eh, where's the other 350k gone?!" What did they "spend"(or invest if you're that way inclined) that on? Another new car for Ken, maybe? Or maybe it was a dividend paid out to "The Shareholder" that got mentioned the other day, whoever he is..

 

[Astute]

£400,000? I am sure we would have paid undisclosed for him.

 

[Covstu]

yes thats normally cheaper! we signed him for £400K, had some Turner money and the cash from Dann so thats why we could afford this deal simple as!

 

[mattylad]

yep Norwich wanted £500k no one else came in for him so excepted our offer of £400k which was clearly paid for by the Turner deal (who will also have got a severance package as he did not ask to go) normally a minimum of 15% of any remaining contract, unless his new wages are so much better he waived it.

 

[SkyBlueScottie]

Well that's one way of looking at it I suppose! Another would be to say "eh, where's the other 350k gone?!" What did they "spend"(or invest if you're that way inclined) that on? Another new car for Ken, maybe? Or maybe it was a dividend paid out to "The Shareholder" that got mentioned the other day, whoever he is..

Its more than likely gone to cover some of the losses or put in to stop us losing any more money. I am not sure whether you can pay dividends when a company is losing money.

 

[ICHAN]

player purchases and sales are completed through CCFC limited. SISU didnt pay for this the club did

Not going to even try getting into the financial side of thinghs osb having read a lot of your posts.
But if you could help me on this one?
If CCFC Limited deal with player purchases and sales then how as people state on here are sisu pocketing money from the said sales of players?
Just interested thanks.

 

[oldskyblue58]

Not going to even try getting into the financial side of thinghs osb having read a lot of your posts.
But if you could help me on this one?
If CCFC Limited deal with player purchases and sales then how as people state on here are sisu pocketing money from the said sales of players?
Just interested thanks.

SISU are not pocketing the money - plenty of people keep saying SISU do but they are wrong. They are guessing because it suits them to see it that way rather than seeing the facts. Player contracts are all assets of CCFC Limited and any sale proceeds of a player are the property of CCFC Ltd. All sale proceeds go to CCFC Ltd not SISU

SISU fund Sky Blue Sports & Leisure which in turn funds CCFC by way of loans. To May 2010 those loans have only increased and since then the Board and SISU maintain that the loans have grown further and nothing taken out. Until we get the accounts we cannot be certain but there is no evidence to say this is untrue. Even if money was transferred up through the group companies against SISU loans there would be nothing illegal, immoral or wrong in doing that given they have provided funding in the region of £30m when no one else would. But SISU say this has not happened and there is no evidence whatsoever at present to say it has

Hope that helps ICHAN

 

[Godiva]

SISU are not pocketing the money - plenty of people keep saying SISU do but they are wrong. They are guessing because it suits them to see it that way rather than seeing the facts. Player contracts are all assets of CCFC Limited and any sale proceeds of a player are the property of CCFC Ltd. All sale proceeds go to CCFC Ltd not SISU

SISU fund Sky Blue Sports & Leisure which in turn funds CCFC by way of loans. To May 2010 those loans have only increased and since then the Board and SISU maintain that the loans have grown further and nothing taken out. Until we get the accounts we cannot be certain but there is no evidence to say this is untrue. Even if money was transferred up through the group companies against SISU loans there would be nothing illegal, immoral or wrong in doing that given they have provided funding in the region of £30m when no one else would. But SISU say this has not happened and there is no evidence whatsoever at present to say it has

Hope that helps ICHAN

I think you have given this answer many times and your stamina is admirable!
Would be great if this and the dozen other standard answers could be made sticky. Could ease the wear of your keyboard.

 

[SydneySkyBlue]

But it is still logical to assume that they are selling players in order to buy them no? Correct me if i'm wrong but it would appear that SISU are paying the bills to keep the club alive but are no longer investing their own money on the playing side.

(Which of course is their prerogative, it just doesn't help us build a squad).

 

[oldskyblue58]

I think you have given this answer many times and your stamina is admirable!
Would be great if this and the dozen other standard answers could be made sticky. Could ease the wear of your keyboard.

am all for that Godiva :claping hands:

 

[Godiva]

I think you have given this answer many times and your stamina is admirable!
Would be great if this and the dozen other standard answers could be made sticky. Could ease the wear of your keyboard.

am all for that Godiva :claping hands:

Great - then lets do it. We may need to collect a list of issues and then start a new thread dealing with those issues post by post.
I have a meeting in a few minutes then in the afternoon we start build the thread.

Lets do the list here though:

Stadium purchase
Cash flow vs overall losses
responsibilities and decision delegation
Investors thinking
The club/sisu strategy
Fair finance play regulations
The club/concern structure
The financing system (loans)

GTG - please complete the list if you feel like it

 

[ICHAN]

Thanks OSB much appreciated for the understandable answer in laymans terms.

 

[oldskyblue58]

Would add the following Godiva but would also suggest we dont put too many items in it - will be clearer if we dont. Also for it to be useful it needs to be factual not our opinions

player sales/proceeds
Accounts

Would welcome anyone elses input too

 

[lordsummerisle]

One thing I would like to know is the relationship between Ranson, Sisu(CCFC ltd) and Pro-Zone.

I never really understood how CCFC ltd(which Ranson was a shareholder and Chairman of) managed to buy Pro-zone from Ranson(think majority shareholder), and then he was paid off with some money from the sale on of Pro-zone apparently. Plus, of course, taking a decent wage as chairman.

Always looked a bit fishy to me, but maybe you could explain it a bit more in depth?

 

[ICHAN]

Going to be busy OSB bet you wish you were still on holiday, see the forums missed your financial expertise on these issues.

 

[skybluejohn]

If ShItSU did pay it was probably screwed down to a £1 week