A different perspective? (1 Viewer)

[thorn in my side]

So - let me try and get my head around all of this.

SISU stepped in as CCFC stared down the barrel of administration and probable liquidation. In doing so SISU inherited years of financial mismanagement and/or incompetence and/or corruption(?). Whatever - the business was well and truly bust.

SISU under-estimated the enormity of the challenge to pull CCFC from the financial brink. They made mistakes - Ray Ranson, Ken Delieu, Gary Hoffman, Joe Elliot - all being involved in the mistakes that followed and each in his own way compounding the problems. All have since jumped ship. SISU however remain at the helm, still funding the club and keeping us afloat. SISU have pumped £40M in to CCFC during their tenure essentially propping up a loss-making business. SISU have tried to cut deep and bring about some financial discipline to force CCFC to face the harsh reality of balancing the books.

CCFC quite simply was functioning beyond its means - end of. SISU have had the unenviable task of making the tough decisions - being the bad guys and making the decisions others before them were too scared to make. The upshot is our best players have been sold and the wage bill slashed - and that has been a significant impact in our relegation (soon to be) this season. However I suspect such decisions were unavoidable - whoever was in charge.

Relegation is upon us. We need to keep this young team together as I do believe it will be competitive in Div 1. Not sure AT is the right man to lead the team in Div 1. I would like to see Lee Carsley be given the chance given he knows these young players and has worked with them. I hear very good things about Lee as a coach and he is well thought of. A young up and coming coach is the way forward.

The Council have a lot to answer for considering our plight. I read posts slating SISU for not "giving the club away". Why should they? It is naive to think or suggest otherwise. SISU own CCFC and need help with the rent. £1M per year is ridiculous - look at Hull and other clubs that rent the stadium. No club pays as much rent as we do. The Council are just being downright greedy.

Hoffman has a lot to answer for as well. He is not going to buy the club. He is going to pursue guerilla tactics, using the media and playing on the hearts and minds of the fans to force the club into administration. He wants the club on the cheap. Hoffman is playing a canny game but not one that has the interest of CCFC at heart - more so his pocket and those of his so-called investors (whoever they maybe).

There is no legitimate buyer out there at present - simple. Hoffman is stalking the club, but he wants to force administration - as do the Council by the sound of it. I for one do not want to see my club go into administration.

So - what hope?

I believe working with SISU might be the the way forward - hence a different perspective. The Council should immediately reduce the rent to an affordable sum. The Council should allow SISU to purchase the ground - on condition that SISU sell within say 3 years. CCFC to include the ground represents a saleable asset and an attractive investment - and this will encourage serious investors to step in - not vultures who scavenge off the morsels of administration.

The above is just a different perspective aimed at encouraging healthy debate. The usual numpties who ram just blind hate SISU down our throats and worship Hoffman should steer clear of this post.

 

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[Otis]

Thanks, Joy.

 

[Delboycov]

Move along now...nothing to see here.

 

[SkyBlueBen]

SISU are a hedge fund therefore they can come into your classification of vultures. They didn't take us over for fun. They saw us as another earner for them. Shame they got it all wrong.

 

[dongonzalos]

The flip side of that

Is that SISU are professionals paid hansomly to invest other people's money.

All of what you mention above ie the history legacy and debts was there for all to see none of it was hidden.

SISU evaluated all of the finances and debts. The had to have known that getting the stadium was the most critical part of this plan

They looked at all of that and then did the deal. They then said Coventry would be promoted within 3 years.

They seem to have done this deal without having the resources to actually buy the stadium.
Then during their tenure they have managed to convince the council that they are not trust worthy.

So 5 years on we have no stadium we have gone down a division instead of up. We still have our debts which apparently are worse.

If I had trusted them to invest my money I would be suing them. Especially if they had analysed all of that from the past and gambled my money. They are not meeting the councils demands for transparency before talks can begin. They are not communicating with the fans in order to try and explain future plans and decisions. Which may improve attendances if people were allowed to understand what is happening.

I honestly wish they had not saved the day leaving us in a worse position 5 years down the line.
I would have preferred administration back then.

They could have got the club cheaper if it had gone into admin, but they dived in as they knew they would be outbid if they had waited 20 minutes.

 

[oldskyblue58]

So - let me try and get my head around all of this.

SISU stepped in as CCFC stared down the barrel of administration and probable liquidation. In doing so SISU inherited years of financial mismanagement and/or incompetence and/or corruption(?). Whatever - the business was well and truly bust.and seemingly didnt learn from it and carried on making the same mistakes for at least 3 years and succeeded in alienating their customers more than any one i have seen

SISU under-estimated the enormity of the challenge to pull CCFC from the financial brink. They made mistakes - Ray Ranson, Ken Delieu, Gary Hoffman, Joe Elliot - all being involved in the mistakes that followed and each in his own way compounding the problems. All have since jumped ship. SISU however remain at the helm, still funding the club and keeping us afloat. SISU have pumped £40M in to CCFC during their tenure essentially propping up a loss-making business. SISU have tried to cut deep and bring about some financial discipline to force CCFC to face the harsh reality of balancing the books.we dont know how much they have or havent pumped in but clearly their management style is knee jerk reaction rather than a communicated clear thought out plan that is fexible but leads forward. Yes others are included in the blame yes sisu have pumped money in but had they had a clear controlled plan un the first place would they had to pump so much in?

CCFC quite simply was functioning beyond its means - end of. SISU have had the unenviable task of making the tough decisions - being the bad guys and making the decisions others before them were too scared to make. The upshot is our best players have been sold and the wage bill slashed - and that has been a significant impact in our relegation (soon to be) this season. However I suspect such decisions were unavoidable - whoever was in charge. yes you are probably right

Relegation is upon us. We need to keep this young team together as I do believe it will be competitive in Div 1. Not sure AT is the right man to lead the team in Div 1. I would like to see Lee Carsley be given the chance given he knows these young players and has worked with them. I hear very good things about Lee as a coach and he is well thought of. A young up and coming coach is the way forward. think you are being unfair to Gregor Rioch and the other coaches by attributing Carsley with the kudos for academy success - he wasnt appointed until part way through the season for starters. He isnt ready to be first team coach

The Council have a lot to answer for considering our plight. I read posts slating SISU for not "giving the club away". Why should they? It is naive to think or suggest otherwise. SISU own CCFC and need help with the rent. £1M per year is ridiculous - look at Hull and other clubs that rent the stadium. No club pays as much rent as we do. The Council are just being downright greedy. we dont rent it off the council and frankly it shouldnt be used as an excuse to hide poor planning, investment and control - if we were charged no rent this club would still be making losses and in crisis

Hoffman has a lot to answer for as well. He is not going to buy the club. He is going to pursue guerilla tactics, using the media and playing on the hearts and minds of the fans to force the club into administration. He wants the club on the cheap. Hoffman is playing a canny game but not one that has the interest of CCFC at heart - more so his pocket and those of his so-called investors (whoever they maybe).Gh isnt planning on risking his money or taking from it as far as has been reported and any buyer wants the club as cheap as possible. He cant force administration unless he is owed money by the club

There is no legitimate buyer out there at present - simple. Hoffman is stalking the club, but he wants to force administration - as do the Council by the sound of it. I for one do not want to see my club go into administration. absolutely no evidence of that and from talking to people high up at some of the interested parties there is no truth whatsoever in your comments

So - what hope?

I believe working with SISU might be the the way forward - hence a different perspective. The Council should immediately reduce the rent to an affordable sum. The Council should allow SISU to purchase the ground - on condition that SISU sell within say 3 years. CCFC to include the ground represents a saleable asset and an attractive investment - and this will encourage serious investors to step in - not vultures who scavenge off the morsels of administration. Council dont set the rent. CCFC have to prove they are a viable business otherwise it doesnt matter what the rent is - it goes bust. The Ricoh is more than just CCFC and ACL, Council and Charity have a duty to ensure its prosperity for the City not just allow a private company that cannot prove it will be here in 12 months time to take over. How do you force a sale in 3 years? Looking at the Ricoh is not just about looking at what is good for CCFC. Why should the council bale out this private company yet not do so for many others that have gone bust in the recent years. The ACL, Council, Charity have always had simple criteria - a viable business as a tenant or investor in the stadium capable of investing further and adding to not detracting from the complex as it stands that is not CCFC IF they cannot afford to fund the club how the hell can they afford to buy an interest in the stadium (which unless they own it all brings them no income)

The above is just a different perspective aimed at encouraging healthy debate. The usual numpties who ram just blind hate SISU down our throats and worship Hoffman should steer clear of this post.

To be honest though I find a lot of your posting interesting and challenging to some other posters with respect I think this needs re thinking and applying to the realities