ACL start admin proceedings (2 Viewers)

Any chance of a comment from Mr PKH on the charitys thoughts? Seems theirs more afoot than just admin tonight. Telegraph and some others are talking take over through admin backed by ACL. PUSB

Senior Vick from Alicante said:

Any chance of a comment from Mr PKH on the charitys thoughts? Seems theirs more afoot than just admin tonight. Telegraph and some others are talking take over through admin backed by ACL. PUSB

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Don't forget Donald Trump!!!

theferret said:

No, that was a commitment going forward as I understand it, it is highly unlikely with things as they are that they actually went ahead and did it. If they did, then perhaps they really are as stupid as some say.

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So it was spin?

coundonskyblue said:

So it was spin?

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Perhaps.

But let's just say they did do it, like you originally thought. So, SISU come in and buy us when we are on the brink, they pump in millions over the years that follow, up to 45m give or take, then go ahead and WRITE IT ALL OFF.

That was your understanding, and yet you still think of them as the bad guys? Jesus, you're hard to please.

I have no idea if they acted on that commitment by the way, but I seriously doubt it at this point.

DazzleTommyDazzle said:

The amount that SISU have put in is not relevant.

The administrator would indeed be duty bound to get the best deal possible, but this will be based on the current assets and liabilities of the business. Not on historical investment that (for whatever reason) has been wasted.

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Additionally, tommy, there must be a threshold that Sisu will have to accept. My understanding is that agreements have to be reached with the main creditors, that they will get x pence in the pound. It is their right to reject an offer, and if no agreement is reached with creditors, the business is liquidated. The capital raised by liquidation is then payed to the creditors, in some form of pecking order, which, I believe, puts players wages near the top. So, if the club is liquidated, there is only a certain amount that could be payed to Sisu. That would therefore be the threshold for the x-pence in the pound out of the alleged £45M they have loaned the club.

My guess is that a lot of truths will come out, when the administrator has access to the accounts. We may see what was received for transfers, and where that money went, etc, for example ( not sure on confidentiality)

Just my thoughts....

theferret said:

Perhaps.

But let's just say they did do it, like you originally thought. So, SISU come in and buy us when we are on the brink, they pump in millions over the years that follow, up to 45m give or take, then go ahead and WRITE IT ALL OFF.

That was your understanding, and yet you still think of them as the bad guys? Jesus, you're hard to please.

I have no idea if they acted on that commitment by the way, but I seriously doubt it at this point.

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Just to point out that I wasn't so naive to believe that Sisu had written off their investment.

Well firstly it's an application that will require a hearing. There are a lot of circumstances that can be argued from SISU's viewpoint too.

It's also a bit of 'calling the kettle black' a bit on ACL's part isn't it?

They seem by this action to be taking the stance that it will somehow be 'rewarding' for the club in the longer term.
No mention of how they could sort the mess out around a table or even provide SISU with some answers to their request?

Not backing SISU but ACL seem to lack a bit of noodle here.

About the only thing this does is get Joy Sepeela's attention over her orange juice in the morning and she will no doubt react angrily which is precisely what we all don't want and ACL don't want and the whole sorrow mess gets played out further.

Will it force them to pay rent? No. I feel ACL may have bitten off more than they can chew. This will not end well for them or the council.
I watch with interest in the coming weeks...

sky blue john said:

If Sisu don't want to sell or get out surely they can just resolve this by putting in 1.3million in and paying ACL off ?

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Yes, radical solution SISU...pay the debt

ohitsaidwalker king power said:

"Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning."

W.C

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Ahhh....Willie Carsons quote before his last horse race.

Senior Vick from Alicante said:

Any chance of a comment from Mr PKH on the charitys thoughts? Seems theirs more afoot than just admin tonight. Telegraph and some others are talking take over through admin backed by ACL. PUSB

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Vick, I think PWKH will keep his own counsel until the dust settles. If negotiations are taking place they are best conducted away from message boards.

We will now get an idea if SISU's clout.

We need to be in the play off places when the high court
decide if SISU have the funds or not.

If we are there it will be interesting if SISU suddenly produce 1.3 million

shy_tall_knight said:

Fact 1 - last time we were in this position only the Mayfair hedge fund were interested

Only SISU with the commercial acumen of a grape were prepared to pay for a loss making club with no assets / negative assets - hence they were the only buyers all other sensible business people would have waited for administration to get it for free / debt free and probably would have renegotiated with ACL rent rates F&B not wait 4 seasons to start the renegotiations.

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How have a major hedge-fund like sisu got the commercial acumen of a grape? At the time the fans were lauding them and were proud of 'our hard nosed owners', the negative quotations about Joy Seppala were also lauded and her 'balls of steel' meant we would never get shafted again. Some even went as far going onto Southampton boarding and goading them for rejecting sisu.

I am sure Mr Coventry City was also eager for sisu to takeover rather than entering into administration.

This club has no long term future under SISU. It is imperative that the football club owns the ground, or at least half. That can't happen under SISU as ACL would never sell to them.

People shouldn't be trying to cling on to these terrible owners. It might mean we have to go through a bit of pain, but it will be worth it.