Sub
Well-Known Member
No idea thats why i asked lol:thinking about:
:thinking about::thinking about::thinking about::thinking about:
Acl (5 Viewers)
- Thread starter Nick
- Start date
No idea thats why i asked lol:thinking about:
:thinking about::thinking about::thinking about::thinking about:
Interest, depreciation/amortization, one-off events (and tax).
Mary_Mungo_Midge
Well-Known Member
Be careful about using words like 'lying' until you know the detail of the accounts
italiahorse
Well-Known Member
The accounts were for last year :claping hands:
Kingokings204
Well-Known Member
Hopefully
Nick
Administrator
True, I forgot that it isn't just SISU who do all the threatening to the fans!
Kingokings204
Well-Known Member
By selling to wasps though couldn't you argue this got ccfc a fantastic rental deal of around 100K a year so actually selling ACL may be in ccfc interest for now. He don't have the money to buy ACL so 100k rent for now allows to continue as a football club and play at the Ricoh in Coventry rather than die in Northampton? I know which one I prefer.
Mary_Mungo_Midge
Well-Known Member
I'm just telling you your statement could be deemed libellous; not starting any cock-measuring contest between SISU-ACL-CCC-Higgs-whoever
no her lying didn't get a better deal for the Ricoh, nore am I suggesting it did, we should forget the analogy because you arn't understanding me and I've confused things by trying to give an example where sisu can lie and I'm not angry about it, I'm not suggesting this means her lie increased the ricohs sale price.
"Do you not think many more people could have understood the reason to sell to Wasps if she wasn't giving it the spin at the same time? If she had said "Look, we are fucked here, we have to do something and quick" then surely more people would understand? Rather than bullshitting about it?"
yes, I would prefer honesty as I've already said though I disagree that they were fucked on these numbers.
Extraordinary events doesn't impact on result of operations - which is down to a meagre quarter of a million. ACL cannot possibly have been cash-flow positive from operation, but mainly because they received extra cash when the council bailed them out. Didn't they get some $400t extra loan plus £1m for Car Park C?
If the few figures reported tells us anything it's that ACL were a liability to the council (and Higgs) - they had to sell. Sadly they chose not to sell to the club.
Grendel
Well-Known Member
The point I am alluding to is that the value of the shares were increased substantially by the offering of a 250 year lease.
The point I making is in this context the offer of £2 million for half share in a failing business suddenly seems more than reasonable.
Mary_Mungo_Midge
Well-Known Member
The club never candidly tried to buy. I don't know the nuances of the accounts yet, so won't argue with you on the former. But on the underlined bit I will
Exactly, and ...
From the notes quoted in the CT:
Did the club come back begging or did CCC/ACL need them back to finalize the deal with Wasps?
skybluetony176
Well-Known Member
Only CCC's IIRC. Pretty sure the judge said ACL were not named as a defendent in the JR so were liable for their own costs as they chose to have representation there. Or something lke that.
Mary_Mungo_Midge
Well-Known Member
Bail out; why? The losses weren't significant compared to the strength of the balance sheet; and the cash position was stronger, wasn't it?
italiahorse
Well-Known Member
SISU drove down the value and the incomes by taking the club away.
The Council would want them back so would make out that ACL can manage until they came to their senses.
Wasps would do due diligence so would know about last years figures.
Wasps deal needed to be done as the losses would continue and value would drop.
Sisu would then not even deal at Wasps price for ACL.
The Council would want them back so would make out that ACL can manage until they came to their senses.
Wasps would do due diligence so would know about last years figures.
Wasps deal needed to be done as the losses would continue and value would drop.
Sisu would then not even deal at Wasps price for ACL.
Thats the same point I was making (though I'm not sure that it was failing) that you were suggesting was embarrassing excuse making for the council.
The worse acl were doing the more understandable the sale of the ricoh was, this is a massively important thing and completely dwarfs any one comment someone made, so the fact acl lost money makes the council look much better than if acl were making a good profit as lucas suggested.
They had to sell, yes.
But did they have to sell to Wasps or could they have made the same deal with the club?
Kingokings204
Well-Known Member
Yes but I think we can all agree ccfc coming back helped wasps decision to buy the Ricoh. It's just more valuable with ccfc there.
If ccfc can benefit from a low rental deal which is it then I take this over dying in Northampton Any day.
Kingokings204
Well-Known Member
Wasn't the same deal offered to the club. That David conn bloke confirmed it and the club and TF didn't want to take on the debt. Sure that was confirmed.
skybluetony176
Well-Known Member
That was a bluff by Grendull. He later confirmed that SISU deliberately lost the JR to continue distressing ACL. I think they were going to appeal if they did actually win
Think you are referring to the club being 'offered' to bid for Higgs shares - not the entire deal Wasps got?
Mary_Mungo_Midge
Well-Known Member
Sorry; trying to do too many things here at once. I'm referring to the bit: 'However, the accounts show net cash inflow has increased substantially from £81,584 to £828,522'
skybluetony176
Well-Known Member
Do you really think that they could have done the same deal with SISU too completion or would SISU have kept trying to renegotiate the terms at the last moment, back tracking, adding in conditions, putting money down and pay the rest over a gazillion years etc. and mess everyone around until the deal collapsed only for Wasps to come back on he scene and secure a better deal than they had previously negotiated?
Grendel
Well-Known Member
That was a bluff by Grendull. He later confirmed that SISU deliberately lost the JR to continue distressing ACL. I think they were going to appeal if they did actually win
The strategy worked tony. It hugely devalued the company to a pathetic amount and yes they would have carried on until bankruptcy occurred.
What sisu hadn't reckoned on was a hedge fund with even less morals than themselves and a council that cared nothing for local community sport (though the history if this catastrophic council should have given them some insight into that aspect).
Nick
Administrator
No it wasn't offered, they were invited to bid on Wasps 50% knowing full well it wasn't possible.
Grendel
Well-Known Member
I bet it has - the council "purchased C Park C" off the councils quango - I wonder why!
Brighton Sky Blue
Well-Known Member
They could have offered the same deal to the football club...
Mary_Mungo_Midge
Well-Known Member
Why wasn't it possible though?
Mary_Mungo_Midge
Well-Known Member
Sorry - that looked more like a question than a statement of fact
