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£61m of debt wiped out in latest CCFC accounts (1 Viewer)

  • Thread starter SimonGilbert
  • Start date Mar 5, 2015
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skybluetony176

Well-Known Member
  • Mar 6, 2015
  • #246
torchomatic said:
TBF, I think Simon or the accountants or whoever at CT Towers would have checked first. To say it's all Fisher's doing is pushing it even for you.
Click to expand...

I just find it odd that members of a CCFC fans forum value questioning a local journalist for (I assume by accident) getting the figures wrong and putting a polish on them over a CCFC senior figure seemingly deliberately getting it wrong in an effort to blindside the fans (I believe blindside is a fancy word for bullshit).

The story isn't the telegraph misled CCFC fans, the story is a CCFC executive has misled fans.
 

Nick

Administrator
  • Mar 6, 2015
  • #247
skybluetony176 said:
The story isn't the telegraph misled CCFC fans, the story is a CCFC executive has misled fans.
Click to expand...

Thing is, if the telegraph print it. They do actually mislead fans?

I am pretty sure if Simon says something or tim Fisher says something, more people would believe simon?

Although I don't think anybody is calling for simon to be sacked or slating him, like I am sure you would if it was Les reid?
 

skybluetony176

Well-Known Member
  • Mar 6, 2015
  • #248
steveecov said:
Does Tony sell ice cream?
Click to expand...

No. But if that's a serious question I think I've met the guy you're on about. He has a pitch at Brandon on one of the bends and has CCFC stickers in the back window. I've spoken to him a few times, good guy. Hate's SISU.
 

torchomatic

Well-Known Member
  • Mar 6, 2015
  • #249
I don't disagree. However, I still think that the figures should have been checked first, don't you? I thought that would have been number one at the top of the list of journalism "do's".

Local journalists have never been questioned on here before, have they? Or is it just Simon you're concerned for.

skybluetony176 said:
The story isn't the telegraph misled CCFC fans, the story is a CCFC executive has misled fans.
Click to expand...
 

Nick

Administrator
  • Mar 6, 2015
  • #250
skybluetony176 said:
I've spoken to him a few times, good guy. Hate's SISU.
Click to expand...

Must make him a good bloke then ay?

Weird how people's minds work that after saying somebody is a good bloke that appears.

"Yeah so and so is a bit of a knob, he loves sisu"

"ahhhh top bloke, he hates sisu"
 

skybluetony176

Well-Known Member
  • Mar 6, 2015
  • #251
Nick said:
Thing is, if the telegraph print it. They do actually mislead fans?

I am pretty sure if Simon says something or tim Fisher says something, more people would believe simon?

Although I don't think anybody is calling for simon to be sacked or slating him, like I am sure you would if it was Les reid?
Click to expand...


When have I ever called for LR to be sacked?

Mocked his recent articles, yes. Called for him to be sacked, no. And neither would I ever do.
 

torchomatic

Well-Known Member
  • Mar 6, 2015
  • #252
Remember the outcry after his JS interview. I don't remember you or others being so understanding about a "local journalist" then.

skybluetony176 said:
When have I ever called for LR to be sacked?

Mocked his recent articles, yes. Called for him to be sacked, no. And neither would I ever do.
Click to expand...
 

Nick

Administrator
  • Mar 6, 2015
  • #253
skybluetony176 said:
When have I ever called for LR to be sacked?

Mocked his recent articles, yes. Called for him to be sacked, no. And neither would I ever do.
Click to expand...

calling for simon to be sacked or slating him
Click to expand...

Mocked his recent articles, yes
Click to expand...
 

skybluetony176

Well-Known Member
  • Mar 6, 2015
  • #254
torchomatic said:
I don't disagree. However, I still think that the figures should have been checked first, don't you? I thought that would have been number one at the top of the list of journalism "do's".

Local journalists have never been questioned on here before, have they? Or is it just Simon you're concerned for.
Click to expand...

Clearly they should have been double checked (I assume that they were checked).

I'm sure Simon can look after himself as can LR.

My concern is that it is overshadowing the real story. Simon may have an account on here and can answer directly. Mr Fisher doesn't have an account (we believe) on here but you can be damn sure he read's what's on here and why should it be comfortable reading for him when he's trying to spin (another word for bullshit) us with distractions like the CT got it wrong?
 

torchomatic

Well-Known Member
  • Mar 6, 2015
  • #255
Well, the CT did get it wrong because they didn't double-check the figures, unlike Fisher who deliberately span the figures to suit. Given his previous record I would have thought that CT would have triple checked the figures before publication.

I don't think people are distracted from the real story here; there's page after page of rightful stick being given to Fisher. And yes Simon can speak for himself. He's not usually too shy in posting on here.


skybluetony176 said:
Clearly they should have been double checked (I assume that they were checked).

I'm sure Simon can look after himself as can LR.

My concern is that it is overshadowing the real story. Simon may have an account on here and can answer directly. Mr Fisher doesn't have an account (we believe) on here but you can be damn sure he read's what's on here and why should it be comfortable reading for him when he's trying to spin (another word for bullshit) us with distractions like the CT got it wrong?
Click to expand...
 
S

steveecov

New Member
  • Mar 6, 2015
  • #256
skybluetony176 said:
No. But if that's a serious question I think I've met the guy you're on about. He has a pitch at Brandon on one of the bends and has CCFC stickers in the back window. I've spoken to him a few times, good guy. Hate's SISU.
Click to expand...

Do you supply him with ice cream?

Seem to get a lot of people screaming on here.
 

Nick

Administrator
  • Mar 6, 2015
  • #257
skybluetony176 said:
Clearly they should have been double checked (I assume that they were checked).

I'm sure Simon can look after himself as can LR.

My concern is that it is overshadowing the real story. Simon may have an account on here and can answer directly. Mr Fisher doesn't have an account (we believe) on here but you can be damn sure he read's what's on here and why should it be comfortable reading for him when he's trying to spin (another word for bullshit) us with distractions like the CT got it wrong?
Click to expand...

So Tim Fisher made the CET print the wrong story to distract from the real issues?
 

skybluetony176

Well-Known Member
  • Mar 6, 2015
  • #258
torchomatic said:
Remember the outcry after his JS interview. I don't remember you or others being so understanding about a "local journalist" then.
Click to expand...

I think you'll find I was communicating with Les directly at the time and posted several posts on his behalf having also asked questions on other poster's behalf. So you're very wrong. I was very understanding.
 

skybluetony176

Well-Known Member
  • Mar 6, 2015
  • #259
Nick said:
So Tim Fisher made the CET print the wrong story to distract from the real issues?
Click to expand...

Where did I say that?
 
S

steveecov

New Member
  • Mar 6, 2015
  • #260
Ah loans, debt....Now you see it... now you don't.
 

skybluetony176

Well-Known Member
  • Mar 6, 2015
  • #261
steveecov said:
Do you supply him with ice cream?

Seem to get a lot of people screaming on here.
Click to expand...

Its a gift.
 

torchomatic

Well-Known Member
  • Mar 6, 2015
  • #262
Apologies then. However, there were quite a few who lacked your understanding.

skybluetony176 said:
I think you'll find I was communicating with Les directly at the time and posted several posts on his behalf having also asked questions on other poster's behalf. So you're very wrong. I was very understanding.
Click to expand...
 

oldskyblue58

CCFC Finance Director
  • Mar 6, 2015
  • #263
Interesting comments from football expert Keiran Maguire on CWR this morning at 21:32

http://www.bbc.co.uk/programmes/p02jrjph

The future isn't that bright with or without the new stadium it would seem and relies on consistently unearthing star players to sell on
 
Last edited: Mar 6, 2015

covcity4life

Well-Known Member
  • Mar 6, 2015
  • #264
do you ever post about football?
 
B

Broken Hearted Sky Blue

Well-Known Member
  • Mar 6, 2015
  • #265
covcity4life said:
do you ever post about football?
Click to expand...

I would if I'd seen any in the last few years,I go to every match perhaps I'll see some soon.
 

Astute

Well-Known Member
  • Mar 6, 2015
  • #266
Nick said:
Thing is, if the telegraph print it. They do actually mislead fans?

I am pretty sure if Simon says something or tim Fisher says something, more people would believe simon?

Although I don't think anybody is calling for simon to be sacked or slating him, like I am sure you would if it was Les reid?
Click to expand...

I can't remember anyone asking Reid to get the sack. What was wanted was someone asking questions from both sides. He asked some good questions about CCC. We all know that he was in talks with Joy. But no questions came from it that we know of. And the questions are still the same......against any sort of opponent of SISU. Then he lost all respectability when he started having a go at everyone who had a different view from himself.

Then we have Simon. He doesn't hide who he is on here. He answers all questions put to him no matter what they are. He has asked questions to all sides. He even replies to the few on here that have thrown insults at him. He even joins in with the council tea boy thing. Yet some people try to make out that they are similar to each other.
 

albatross

Well-Known Member
  • Mar 6, 2015
  • #267
oldskyblue58 said:
Interesting comments from football expert Keiran Maguire on CWR this morning at 21:32

http://www.bbc.co.uk/programmes/p02jrjph

The future isn't that bright with or without the new stadium it would seem and relies on consistently unearthing star players to sell on
Click to expand...


Just listened to this and found it thoroughly depressing. The University Lecturer in Football finance basically said we are bust , spending 140% of income on wages, our wage bill is not that high for league One and he cannot see what SISU's business plan is other than to get lucky.

Maybe Tim just found his lucky pants eh? I suppose he will be lucky if they are ever able to take out the 9 Million a year in dividends as per the new shares
 
E

egastap

New Member
  • Mar 6, 2015
  • #268
skybluetony176 said:
Clearly they should have been double checked (I assume that they were checked).

Mr Fisher doesn't have an account (we believe) on here
Click to expand...
Who's RFC then? I thought that was him!
 

Astute

Well-Known Member
  • Mar 6, 2015
  • #269
egastap said:
Who's RFC then? I thought that was him!
Click to expand...

Even RFC isn't that deluded
 

stupot07

Well-Known Member
  • Mar 6, 2015
  • #270
albatross said:
Just listened to this and found it thoroughly depressing. The University Lecturer in Football finance basically said we are bust , spending 140% of income on wages, our wage bill is not that high for league One and he cannot see what SISU's business plan is other than to get lucky.

Maybe Tim just found his lucky pants eh? I suppose he will be lucky if they are ever able to take out the 9 Million a year in dividends as per the new shares
Click to expand...

Can you imaging fan ownership and 140% wages to turnover working.


Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
 
O

oldfiver

Well-Known Member
  • Mar 6, 2015
  • #271
oldskyblue58 said:
Interesting comments from football expert Keiran Maguire on CWR this morning at 21:32

http://www.bbc.co.uk/programmes/p02jrjph

The future isn't that bright with or without the new stadium it would seem and relies on consistently unearthing star players to sell on
Click to expand...

Did I hear correctly that he said ( paraphrased ) "once the company makes a profit then they will pay these dividends ". Well I would not attend one of his lectures because it will not be "when they start making a profit" but when they have cleared the current £11m deficit then £9m to cover the dividend.
 
G

Godiva

Well-Known Member
  • Mar 6, 2015
  • #272
oldskyblue58 said:
Interesting comments from football expert Keiran Maguire on CWR this morning at 21:32

http://www.bbc.co.uk/programmes/p02jrjph

The future isn't that bright with or without the new stadium it would seem and relies on consistently unearthing star players to sell on
Click to expand...

Yes it is interesting, especially coming from an outsider expert. His explanation on the shares and dividends was very good.
But him being an outsider means he doesn't know everything related to this club.
He recognize the low revenue was from a season at Sixfields, but fail to recognize we'd moved back and the revenue will gone up considerably by next set of accounts.
He also says interests has been paid out, when clearly it hasn't - it's been added to the debt and some even converted to shares.

Regarding the stadium situation he says on one hand the clubs situation is comparable to Stockport, on the other hand he says effects of a new stadium wears off in a couple of years. I would have loved some more details on both situations as he kind of indicated we're lost if we stay and we're lost if we move.
 

oldskyblue58

CCFC Finance Director
  • Mar 6, 2015
  • #273
wont even be that oldfiver because the P&L account is currently at minus 76m. I think he probably meant makes a distributable profit. The rest of what he said still makes sense

It would seem that the right to 15% accrues over the years irrespective until such time as distributable profits are available to pay it - cant see that ever happening to be honest

Its all cloud cuckoo land but it does lock any profit a new investor might foresee in to SISU & ARVO.

Not too many profitable clubs around and certainly not many profitable ones that boast the best things have been in years and are a minimum of 11m in interest bearing debt - let alone preference shares

I have to assume this is all being done to benefit the investors first and foremost not the club
 
Last edited: Mar 6, 2015
G

Godiva

Well-Known Member
  • Mar 6, 2015
  • #274
oldskyblue58 said:
wont even be that oldfiver because the P&L account is currently at minus 76m. I think he probably meant makes a distributable profit. The rest of what he said still makes sense

It would seem that the right to 15% accrues over the years irrespective until such time as distributable profits are available

Its all cloud cuckoo land but it does lock any profit a new investor might foresee in to SISU & ARVO.

Not too many profitable clubs around and certainly not many profitable ones that boast the best things have been in years and are a minimum of 11m in interest bearing debt - let alone preference shares
Click to expand...

So, how does that tie in with what you previous said about a possible change of ownership this or next Summer?
 
W

wingy

Well-Known Member
  • Mar 6, 2015
  • #275
Bizarre structure when you're supposedly seeking co-Investors
 

SkyBlue_Bear83

Well-Known Member
  • Mar 6, 2015
  • #276
albatross said:
Just listened to this and found it thoroughly depressing. The University Lecturer in Football finance basically said we are bust , spending 140% of income on wages, our wage bill is not that high for league One and he cannot see what SISU's business plan is other than to get lucky.

Maybe Tim just found his lucky pants eh? I suppose he will be lucky if they are ever able to take out the 9 Million a year in dividends as per the new shares
Click to expand...
Exceptional circumstances though for the years accounts, it isn't typical of a regular year.
 
G

Godiva

Well-Known Member
  • Mar 6, 2015
  • #277
CCFC said:
Exceptional circumstances though for the years accounts, it isn't typical of a regular year.
Click to expand...

When was it ever?
 

SkyBlue_Bear83

Well-Known Member
  • Mar 6, 2015
  • #278
Godiva said:
When was it ever?
Click to expand...

Even more so than usual though.
 
J

Jonty1

New Member
  • Mar 6, 2015
  • #279
oldskyblue58 said:
wont even be that oldfiver because the P&L account is currently at minus 76m. I think he probably meant makes a distributable profit. The rest of what he said still makes sense

It would seem that the right to 15% accrues over the years irrespective until such time as distributable profits are available to pay it - cant see that ever happening to be honest

Its all cloud cuckoo land but it does lock any profit a new investor might foresee in to SISU & ARVO.

Not too many profitable clubs around and certainly not many profitable ones that boast the best things have been in years and are a minimum of 11m in interest bearing debt - let alone preference shares

I have to assume this is all being done to benefit the investors first and foremost not the club
Click to expand...

Not sure they had much choice. They couldn't leave the liabilities in Holdings as it would otherwise have had to be liquidated as an insolvent company which would probably have meant another points deduction. I'm guessing that to secure the golden share they would have had to ensure holdings wasn't left with debts(and so provided a guarantee as noted in the accounts). I'm sure the Football league wouldn't have allowed the new club 'Otium' to be landed with this debt so no option other than to capitalise it. I can see no benefit for the shareholders in them having this as preference shares rather than debt. The guarantee creates the charge in the accounts which is satisfied through the issue of shares.
 

SkyBlue_Bear83

Well-Known Member
  • Mar 6, 2015
  • #280
Btw how we were spending £1.40 for every £1.00 in as has been claimed? Only allowed to spend 60% right?
 
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