This is the 3rd year in a row they have done this. Surely The Football League must realise they are not fit to run a Football club. They have to power to order Owners to leave the club, why arent they excercising that power?
Are you encouraging the Football League to expel the club from the league?
No, im encouraging The Football League to remove our so called owners. Surely they cant pass the fit and proper persons test. They have a duty of care over the club and they arent recognising it. They have the power to force owners to leave clubs and find a buyer ASAP, why arent they doing it?
No, im encouraging The Football League to remove our so called owners. Surely they cant pass the fit and proper persons test. They have a duty of care over the club and they arent recognising it. They have the power to force owners to leave clubs and find a buyer ASAP, why arent they doing it?
Remove and replace with whom?
Yep agreed. Who ever else comes in they will still need to remain firm on the rent situation. Let sisu sort this out (and I hope stays tough). Then lets see what they can do for the team before judging them.Exactly. Quite frankly I'm fecking bored with SISU out brigade. Let's be honest, has the embargo come as a surprise? No!!
People need to stop posturing and get behind the CLUB
If SISU paid ACLs ransom then we would be playing the youth team as according to the FFP rules we wouldn't have a budget to pay decent players.
Ask yourselves, what would you prefer? A team that can compete whilst our owners do the business upstairs or... A fully paid up stadium playing 17 year olds, in front of about 4000 fans.
I say, keep up the good work SISU
Remove and replace with whom?
If t here's one statement that gets right on my tits it's thatExactly.People need to stop posturing and get behind the CLUB
Its the food sales that can increase t/o and increase the cap, but it is on a long contract to compassso how exactly does the rent affect the FFP calculation when FFP is a percentage of turnover? Hasnt seemed to stop us having a squad of over 30 players, a non youth team first team or a budget of £4m this year
Ok well I know that you know more than me on this subject.so how exactly does the rent affect the FFP calculation when FFP is a percentage of turnover? Hasnt seemed to stop us having a squad of over 30 players, a non youth team first team or a budget of £4m this year
It isnt quite that simple SBP. The auditors need to be sure that the club is a going concern for 12months + from now to be able to sign off the accounts today. There are a number of reasons why they cant do that including but not only the rent dispute. Clearly with everything going on there is a high level of risk of failure. It isnt just about having the accounts from management figures I am afraid.
Issues include
CCFC are in breach of the lease and put at risk the ability to stay at Ricoh so the ability to trade at risk
Can they afford the rent
can they afford the expenses and overheads they are locked in to (eg wages of players)
What is the level of income available will that increase or decrease
are assets exceeded by liabilities
are there any court actions that might threaten going concern
is there potential for actions taken by other creditors
are the plans of the directors viable
will the owner provide more funds
what does the current trading look like is there more losses since 31/05/12
etc etc .......
all that needs to be answered before the accounts can be filed on a going concern basis
they could file accounts on a different basis but that would be as good as curtains for the club in a matter of days
I think what a lot of people do not realise is that directors have a duty to the company not its shareholders and also have a duty to act properly in respect of its creditors.
Management accounts would not be acceptable to company house
Hope that helps SBP ........... as with everything at CCFC it is not as clear cut as it might seem or we might want it to be
Ok thanks osb. Now what would stop creative accounting especially when there's so many different companies involved in CCFC?
But wasn't the credit actually for overpaid business rates?
@oldskyblue:
A question if I may; under what circumstances can this long term and costly lease be legally broken?
While I despise SISU and their methods, I think we all agree that for the sake of the club the rent must be reduced (and ACL have made several very good offers that SISU have refused), and the long-lease perhaps also needs to be broken, but legally.
Would administration break all contracts, or would that take liquidation?
Thanks
@oldskyblue:
A question if I may; under what circumstances can this long term and costly lease be legally broken?
While I despise SISU and their methods, I think we all agree that for the sake of the club the rent must be reduced (and ACL have made several very good offers that SISU have refused), and the long-lease perhaps also needs to be broken, but legally.
Would administration break all contracts, or would that take liquidation?
Thanks
Administration would be enough to break it - but you've still got to negotiate with ACL again if you want to carry on there after - that would be a laugh if it were a SISU backed relaunch
iosnt that the problem though, the lease still exists so landlord wont deal with SISU, or if woumd up and club wants to be there (and may have to be) then ACL still call the tune
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