19/20 Accounts (1 Viewer)

Grendel · Jun 3, 2021

Sky Blue Pete said:
You really do peddle the most emotive claptrap

You honestly don’t believe Sappela would not have done exactly the same thing as Richardson did as a response to the EU action?

She made an appeal as she thought wasps would not get over the financial plight they were in and her investors would at last reap rewards.

She put the club again at risk of oblivion because she wanted to. Sorry you can’t just brush away “it’s her legal right” without the consequences to the club especially as you also claim she has an emotional attachment to it. The action and the sentiment aren’t compatible

If we hadnt engineered a return the finances would be catastrophic - sorry don’t agree and won’t agree.

She could engineer another rent strike in two years and again she’s the victim and it’s everyone conspiring against her.

SlowerThanPlatt · Jun 3, 2021

COV said:
You're saying the accounts are lies?

Think he meant the understating of the budget?

HuckerbyDublinWhelan · Jun 3, 2021

SlowerThanPlatt said:
I feel there has been constant downplaying of the budget. Was claimed our budget was mid table for League 1 but the subsequent accounts and agent fees show that to be unlikely.

Our budget would have no doubt have been towards the bottom end but lower than Wycombe’s I would be amazed.

COV said:
You're saying the accounts are lies?

Not lies - the accounts are what they are, but I stand by they downplay the budget at the start of every season, as I think they have for next season.

Sky Blue Pete · Jun 3, 2021

Grendel said:
You honestly don’t believe Sappela would not have done exactly the same thing as Richardson did as a response to the EU action?

She made an appeal as she thought wasps would not get over the financial plight they were in and her investors would at last reap rewards.

She put the club again at risk of oblivion because she wanted to. Sorry you can’t just brush away “it’s her legal right” without the consequences to the club especially as you also claim she has an emotional attachment to it. The action and the sentiment aren’t compatible

If we hadnt engineered a return the finances would be catastrophic - sorry don’t agree and won’t agree.

She could engineer another rent strike in two years and again she’s the victim and it’s everyone conspiring against her.

She made an appeal as she still feels wasps received a £20m boost and that’s unfair. We did ask about whether she regrets the damage caused to relationships and having to play away. I know you only see things in black and white without nuance. If she’d wanted out they could have done so.

It’s an assumption to say she thought wasps would go bust and I don’t think they are anywhere near that point yet so unless you know something Derek and joy don’t then that’s an assumption based on nothing

It’s also the case that the Eu complaint is still to be heard and yet wasps have a agreed a long term deal that’s a fact! Why now? Covid yep and time has passed on but fundamentally the Eu complaint wasn’t the reason there was no deal. Everything else is he said she said and not backed up with fact

You misunderstand emotionally attached as you are a supporter and she is a business woman first.

Why would you think a rent strike is around the corner let’s focus on the here and now

We get it you want the owners gone. Many said that about Richardson and mcgunity and look where that got us

We get that you want the manager gone? Well thank god you don’t decide on that one

For the last 4 years all your prophecies and opinions on where we are headed have been wrong and I understand that pisses you off. We are doing brilliantly on the pitch and we need more transparency from our owners about the plan but we also need to give robins and boddy some respect for what they have achieved and trust them to keep going rather than looking for every opportunity to prove how bad they are and how the sky is going to fall down

We should start to refer to you as Henny Penny

SlowerThanPlatt · Jun 3, 2021

Sky Blue Pete said:
She made an appeal as she still feels wasps received a £20m boost and that’s unfair. We did ask about whether she regrets the damage caused to relationships and having to play away. I know you only see things in black and white without nuance. If she’d wanted out they could have done so.

It’s an assumption to say she thought wasps would go bust and I don’t think they are anywhere near that point yet so unless you know something Derek and joy don’t then that’s an assumption based on nothing

It’s also the case that the Eu complaint is still to be heard and yet wasps have a agreed a long term deal that’s a fact! Why now? Covid yep and time has passed on but fundamentally the Eu complaint wasn’t the reason there was no deal. Everything else is he said she said and not backed up with fact

You misunderstand emotionally attached as you are a supporter and she is a business woman first.

Why would you think a rent strike is around the corner let’s focus on the here and now

We get it you want the owners gone. Many said that about Richardson and mcgunity and look where that got us

We get that you want the manager gone? Well thank god you don’t decide on that one

For the last 4 years all your prophecies and opinions on where we are headed have been wrong and I understand that pisses you off. We are doing brilliantly on the pitch and we need more transparency from our owners about the plan but we also need to give robins and boddy some respect for what they have achieved and trust them to keep going rather than looking for every opportunity to prove how bad they are and how the sky is going to fall down

We should start to refer to you as Henny Penny

Did she not the answer the question about the damage to relationships then?

Grendel · Jun 3, 2021

SlowerThanPlatt said:
Did she not the answer the question about the damage to relationships then?

Of course she’d say she’s sorry and blame someone else she always does and always will.

wingy · Jun 3, 2021

How's the stance on litigation moving forward now?

Grendel · Jun 3, 2021

Sky Blue Pete said:
She made an appeal as she still feels wasps received a £20m boost and that’s unfair. We did ask about whether she regrets the damage caused to relationships and having to play away. I know you only see things in black and white without nuance. If she’d wanted out they could have done so.

It’s an assumption to say she thought wasps would go bust and I don’t think they are anywhere near that point yet so unless you know something Derek and joy don’t then that’s an assumption based on nothing

It’s also the case that the Eu complaint is still to be heard and yet wasps have a agreed a long term deal that’s a fact! Why now? Covid yep and time has passed on but fundamentally the Eu complaint wasn’t the reason there was no deal. Everything else is he said she said and not backed up with fact

You misunderstand emotionally attached as you are a supporter and she is a business woman first.

Why would you think a rent strike is around the corner let’s focus on the here and now

We get it you want the owners gone. Many said that about Richardson and mcgunity and look where that got us

We get that you want the manager gone? Well thank god you don’t decide on that one

For the last 4 years all your prophecies and opinions on where we are headed have been wrong and I understand that pisses you off. We are doing brilliantly on the pitch and we need more transparency from our owners about the plan but we also need to give robins and boddy some respect for what they have achieved and trust them to keep going rather than looking for every opportunity to prove how bad they are and how the sky is going to fall down

We should start to refer to you as Henny Penny

What pisses me off us we’ve had 3 seasons away from Coventry, two administrations, two relegations, owners with zero interest in financial support or activities on the pitch, an escalating debt that’s heading back towards 2007 levels and an owner who has failed at every turn

We’ve done brilliantly on the pitch = a worse position than we were when the idiot took over.

Still don’t worry she or Boddy will get you to show stokes accounts again soon

Sky Blue Pete · Jun 3, 2021

SlowerThanPlatt said:
Did she not the answer the question about the damage to relationships then?

My memory isn’t great I think she didn’t really answer but repeated that it wasn’t fair and Eu understand state aid law much better than the uk. Like Mark says we disagree as do many on here but to say that shows that she doesn’t give a shit about the success of ccfc or that she doesn’t care full stop I think is wrong but henny is entitled to his opinion. He’s not wrong that over the 11 years Sisu have not done things well. Success has helped everything but that shouldn’t overshadow that there is a reason we have had the success and to rightly give them shit as we went down to league 2 it seems churlish to say it’s luck or fluke or in spite of Sisu that we have had success

What the overall plan is who knows?
What is the plan to reduce the loan amounts?
Is it possible to compete in the championship - who knows?

Sky Blue Pete · Jun 3, 2021

wingy said:
How's the stance on litigation moving forward now?

Who knows

Sky Blue Pete · Jun 3, 2021

Grendel said:
What pisses me off us we’ve had 3 seasons away from Coventry, two administrations, two relegations, owners with zero interest in financial support or activities on the pitch, an escalating debt that’s heading back towards 2007 levels and an owner who has failed at every turn

We’ve done brilliantly on the pitch = a worse position than we were when the idiot took over.

Still don’t worry she or Boddy will get you to show stokes accounts again soon

Careful you were almost excited then. We were in league 2 Grendel

Grendel · Jun 3, 2021

Sky Blue Pete said:
Careful you were almost excited then. We were in league 2 Grendel

Oh and I wonder why that was

Sky Blue Pete · Jun 3, 2021

Grendel said:
Of course she’d say she’s sorry and blame someone else she always does and always will.

Well she didn’t but you keep on with the black and white, good and bad, evil and angelic dual nature of how things have to be

Sky Blue Pete · Jun 3, 2021

Grendel said:
Oh and I wonder why that was

Because of catastrophic mismanagement grendel

Grendel · Jun 3, 2021

Sky Blue Pete said:
Because of catastrophic mismanagement grendel

Well who was responsible for that

SlowerThanPlatt · Jun 3, 2021

Grendel said:
Oh and I wonder why that was

Partly down to Mowbray carrying on his fetish for over the hill players and chasing Kelvin Wilson all summer

Sky Blue Pete · Jun 3, 2021

Grendel said:
Well who was responsible for that

Opinion or fact

Fact

Sisu
Chairmen
Managers

Opinion

Sisu allowed the wrong people to make decisions that screwed us

Skyblueweeman · Jun 3, 2021

I don’t know how people have the time or energy for threads such as this.

The mind boggles.

Grendel · Jun 3, 2021

Skyblueweeman said:
I don’t know how people have the time or energy for threads such as this.

The mind boggles.

Well you posted on it

Grendel · Jun 3, 2021

SlowerThanPlatt said:
Partly down to Mowbray carrying on his fetish for over the hill players and chasing Kelvin Wilson all summer

The budget in the end was massively slashed as was the case the season we went down from the championship

Sky Blue Pete · Jun 3, 2021

Skyblueweeman said:
I don’t know how people have the time or energy for threads such as this.

The mind boggles.

Sorry I don’t

Godiva · Jun 3, 2021

10 years ago OSB wrote this:

oldskyblue58 said:
The feel I am getting is that the Board are allowing the club to find its own level financially and playing wise. That is why they are keeping a distance, that is why they are so stubborn in terms of player matters. They know we are heading for rock bottom, have accepted it and are planning for next season in division 1

Clearly they are not prepared to put more money in - they must realise the implications of this in terms of the playing staff available and even the manager available. They have not been moved to help or greatly improve the squad in fact I think most fans expect further player departures come January. That has one likely outcome - the team unable to compete and finding its level at the bottom of the table. We as fans have expectations from the "mighty" Sky Blues often unrealistic but I dont think the current owners and Board do

If they had expectations then there would be pressure on AT from above - there doesnt appear to be say the pressure Coleman had. If they had expectations there would be greater urgency in new player matters. If they had expectations there would be greater urgency in finding new investors. I think they want to let us go to rock bottom, to find a level from which to build - from their point of view lean mean and sound footing.

They are taking measures to fix costs - the new contracts offered to some players point to that. The contracts dont increase the worth of the club balance sheet but future finance will depend on costs being controlled - our biggest cost is the wages. Give the players 3+ year contracts and you know the costs for 3 years. Strange all contracts now have the term undisclosed too. Yes it ties the players in so we can cash in and sell them but who would buy some of the senior players who have new contracts? It works for the young lads but they get 2 years to 2013 or maybe 3 but i cannot get my head round 4 years for bell !!

I think they have accepted that League 1 is where we will be next season and to build from there. This is going to be a long hard and sorry season for the fans. Our squad is small and we will always carry some injuries why lock us into perpetual crocks if it wasnt planning for next year?.

There has to be a plan to all this and I see no ambition in the current owners and board surely that can mean only one plan............ to find rock bottom and build from there.

must remember to keep taking my depression medicine :thinking about:

Good call

Sky Blue Pete · Jun 3, 2021

Godiva said:
10 years ago OSB wrote this:

Good call

How the hell did you find that????

Skyblueweeman · Jun 3, 2021

Grendel said:
Well you posted on it

I mean the continued posting on things that have been discussed a billion times before.

Our accounts continue to look shit.
OSB continues to be concerned.
No one knows who is to blame or by what percentage.

Kudos to regular posters who go through this all the time. It’s exhausting watching the same people go over the same arguments again and again and again and again and.....

Sky Blue Pete · Jun 3, 2021

Skyblueweeman said:
I mean the continued posting on things that have been discussed a billion times before.

Our accounts continue to look shit.
OSB continues to be concerned.
No one knows who is to blame or by what percentage.

Kudos to regular posters who go through this all the time. It’s exhausting watching the same people go over the same arguments again and again and again and again and.....

Again?

Gregbant · Jun 3, 2021

Grendel said:
The point is it’s a reflection of owner strategy

Same strategy that the owners have had for approximately 10 years now.
There has been slight variations to it over the decade, but the final aim is always the same.
You have mostly cheered and egged them on, throughout this time.

Irish Sky Blue · Jun 4, 2021

Gregbant said:
Same strategy that the owners have had for approximately 10 years now.
There has been slight variations to it over the decade, but the final aim is always the same.
You have mostly cheered and egged them on, throughout this time.

What is their final aim? I don't understand why they hang on to the club when presumably it is still costing them money?

slowpoke · Jun 4, 2021

Question of how much it would take for them to go anyone have any idea ?

Sky Blue Pete · Jun 4, 2021

slowpoke said:
Question of how much it would take for them to go anyone have any idea ?

A friend who I trust was part of a group who were involved in an offer probably 2 years ago now said that their offer was way more than the club was worth. It sounded like it was all going to happen but then Sisu changed their mind. I don’t think their offer was more than £10m

chiefdave · Jun 4, 2021

slowpoke said:
Question of how much it would take for them to go anyone have any idea ?

Based on nothing but guesswork I think you'd need to throw in an offer of £15m if you wanted to have a serious conversation about taking over the club.

slowpoke · Jun 4, 2021

That’s massive money to a man of straw like me but compared to what we see or hear being offered for clubs even in these difficult times doesn’t seem to be a lot, or is it ? if I get lucky tonight on the Euro lottery I might be our next owner.

Grendel · Jun 4, 2021

Irish Sky Blue said:
What is their final aim? I don't understand why they hang on to the club when presumably it is still costing them money?

Well all they ever want is a return for their investors

In relative terms the season before promotion was a sign of this with recovery on interest payments

Almost certainly the move to St Andrews was an engineered attempt to bring wasps down. As usual the plan failed

You only have to look at the post OSB made regarding income in the season - we were comfortably top 6 but I’m sure Boddy mentioned somewhere were were 11th in terms of spend capacity. The owners were not intending any funding and ended up being caught out with the pandemic and more poor planning

The balance sheet liabilities are ratcheting up. We’ve had to take a £3.2 m loan to cover tax liabilities (again I’m sure Boddy said we didn’t need it) and despite an unexpected windfall with the Wilson sale I’d assume a further £7 - £8 million deterioration

Let’s forget the notion the owners have funded gaps - the figures are there in public record - they have not

What they will now do I’m afraid is look again at recovery through re payments. So starving of an already poor budget, interest repayments and I suspect 5-7 more years to recover fund holder investment

Sky Blue Pete · Jun 4, 2021

Grendel said:
Well all they ever want is a return for their investors

In relative terms the season before promotion was a sign of this with recovery on interest payments

Almost certainly the move to St Andrews was an engineered attempt to bring wasps down. As usual the plan failed

You only have to look at the post OSB made regarding income in the season - we were comfortably top 6 but I’m sure Boddy mentioned somewhere were were 11th in terms of spend capacity. The owners were not intending any funding and ended up being caught out with the pandemic and more poor planning

The balance sheet liabilities are ratcheting up. We’ve had to take a £3.2 m loan to cover tax liabilities (again I’m sure Boddy said we didn’t need it) and despite an unexpected windfall with the Wilson sale I’d assume a further £7 - £8 million deterioration

Let’s forget the notion the owners have funded gaps - the figures are there in public record - they have not

What they will now do I’m afraid is look again at recovery through re payments. So starving of an already poor budget, interest repayments and I suspect 5-7 more years to recover fund holder investment

Do you think they should just put money in and not look to get it back?
If the 5-7 years coincided with mid table championship finishes would that be ok?

Frostie · Jun 4, 2021

slowpoke said:
That’s massive money to a man of straw like me but compared to what we see or hear being offered for clubs even in these difficult times doesn’t seem to be a lot, or is it ? if I get lucky tonight on the Euro lottery I might be our next owner.

Compared to a lot of other clubs we have very few assets.

Grendel · Jun 4, 2021

Sky Blue Pete said:
Do you think they should just put money in and not look to get it back?
If the 5-7 years coincided with mid table championship finishes would that be ok?

I definitely think better more progressive owners wouldn’t want returns for failure and certainly not 14% rates of interest

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