Anyone now thinking that SISU will jack the whole thing in ? (1 Viewer)

[Danceswithhorses]

Now that it seems SISU have gambled poorly and blew their chance of buying ACL, why would they want to stick around ?
Most believe they were after assets for their investors, and to be frank, there are now none left at ccfc.
What are the chances they will sell up or even liquidate ?

 

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[Nick]

I don't know, the worrying thing is I can't see them just handing it over and I can't see anybody paying what they would want for it.

In the real world they would and should accept what it is worth, but it isn't as simple is it.

I am confident either way we won't go under or be non existent.

 

[will am i]

I don't know, the worrying thing is I can't see them just handing it over and I can't see anybody paying what they would want for it.

In the real world they would and should accept what it is worth, but it isn't as simple is it.

I am confident either way we won't go under or be non existent.

Surely and independent valuation is the way forward? Which would mean SISU pay someone £50m to take it off their hands?

 

[bigfatronssba]

I think for now the most likely scenario is they will be putting no more money into CCFC. No new stadium, no player investment, no fitness instructor for Sky Blue Sam.

The club now will now at least break even, regardless of the consequences. I can see this being disastrous on the pitch.

 

[fernandopartridge]

While there are courts there are reasons for them to stay. I wouldn't be surprised if there was more legal action at some stage.

 

[Limey]

I think they have 3 options 1. Contest the 50% Ricoh share (more court action) 2. Play nice and hope we hit the Championship 3. Sell now.

Who's going to take them up on option 3 if there is no chance of owning Ricoh (even half) or building new ground? I don't think wasps want to own us as they will be happy to take our rent. And probably NEED our rent.

 

[ajsccfc]

They took over and have stuck around despite there being so many reasons not to, so I think we can conclude that they truly love the club and the city. Sure it's a tough love, but you can get creams that clear that right up.

 

[Noggin]

I think for now the most likely scenario is they will be putting no more money into CCFC. No new stadium, no player investment, no fitness instructor for Sky Blue Sam.

The club now will now at least break even, regardless of the consequences. I can see this being disastrous on the pitch.

do you think it's possible to run it at break even as the crowds continue to drop and we run out of assets to sell (which we now have)? of course we still have youngsters coming through but the worse your team is the harder it is for them to shine and be sold for big money, of course maybe the squad is better than the last 5 games have suggested but if it's not crowds will be low, we will get relegated and crowds will be abysmal.

 

[bigfatronssba]

do you think it's possible to run it at break even as the crowds continue to drop and we run out of assets to sell (which we now have)? of course we still have youngsters coming through but the worse your team is the harder it is for them to shine and be sold for big money, of course maybe the squad is better than the last 5 games have suggested but if it's not crowds will be low, we will get relegated and crowds will be abysmal.

I agree to a point with the OP that sisu have washed their hands of the club. They wont put any money in, if they have to keep propping the club up they will walk away.

As for breaking even, I think the cuts will be ruthless, to the point that nothing will be out of the equation. If cutting the player budget to that of a bottom end Conference club is what is required to break even then that is what I think they'll do.

 

[shy_tall_knight]

Not going anywhere soon, running us at break-even why sell, as the crowds further deteriorate the player budget will be reduced accordingly. Selling now would mean that their investment would have to be recognised as a huge loss now carrying on ensures that they can convince their investors that there is still a potential pprofit !!!

 

[WestEndAgro]

Fisher said you never sell at the bottom of a cycle, and like it or not that's where we are, unfourtately I can't see how we can possibly improve things either too start an upturn,

Liquidation seems all but impossible due to all the debt being owed to SISU !

So "the futures bleak the futures SISU"

 

[wingy]

I think SP's signing of the 4yr Contract Is a signal ,coupled with his remarks on hoping to field a team of Coventry generated Players ,that will be the way forward for them ,assuming no one Coughs up enough to change their mind.

f course they may eventually give In .

One other option ,they have said many times they're looking for Co-Investors ,If cards are played right they may be able to persuade Mr Richardson to help out on that front.

 

[Cheshire Sky Blue]

Its not beyond the possible that Wasp's Mr Richardson would work with other investors to have CCFC and Wasps operating within the same company. There is a certain logic that makes running two sporting clubs from the same arena appealing as one counterbalances the other in terms of cash-flow.

That other partner may be SISU (But I struggle to see why they would want long term in this) or someone like Haskel. I agree with the OP the reason for SISU being here seem to be astonishingly small.

 

[SkyblueBazza]

I think they have 3 options 1. Contest the 50% Ricoh share (more court action) 2. Play nice and hope we hit the Championship 3. Sell now.

Who's going to take them up on option 3 if there is no chance of owning Ricoh (even half) or building new ground? I don't think wasps want to own us as they will be happy to take our rent. And probably NEED our rent.

Wasps have said they would like to see a successful CCFC as well as Wasps team. They also said they have no plans to buy CCFC. There's one word that leaps out at me there...NO...& if that leaps out of the sentence you are left with "have plans to buy CCFC".
Poetic justice on SISU that unless they can mount some kind of successful legal challenge somehow, they now have seen all their options to get the Ricoh at a knock-down price disappear. IMO they either have to buy Wasps with the Ricoh for quite a large sum; grin & bear it; sell for the best price in 2-4yrs (seeing if they can add value through success on the pitch)
From a Wasps perspective - a successful Rugby club will bring some tidy profit. Add CCFC rent in, that's nice too...but a successful L1 campaign with an owned CCFC will likely yield more profits than anything short of a top performing Wasps Rugby Club.

No brainier from their side & they will be unlikely to move stadia again.


PUSB

 

[Mr T - Sukka!]

If a hedge fund has a portfolio of businesses its very handy to have a loss making business.

It allows debt to be shifted onto it from other companies.

Not saying thats whats being done here.

 

[Ashdown]

Fisher said you never sell at the bottom of a cycle, and like it or not that's where we are, unfourtately I can't see how we can possibly improve things either too start an upturn,

Liquidation seems all but impossible due to all the debt being owed to SISU !

So "the futures bleak the futures SISU"

It's hard to disagree with this post and it's why in difficult times for many the people of Cov are not running to the Ricoh to hand over their money. You have to have some hope that things will improve or why bother, at the moment, the worst factor for many I think is that SISU will grab any extra revenue from a glamorous cup tie or a fortuitous promotion anyway and sink the club straight back in the doldrums. A threadbare squad and a glut of kids is just very unlikely to cut the mustard in this quite physical of leagues !

 

[skybluetony176]

It's difficult to see what's keeping them here. The only thing left to sell is Ryton and the only reason to buy that is to build houses and someone correct me if I'm wrong but didn't it come out in the first rounds of FOI enquiries that SISU had applied for planning permission to build houses on it and RBC turned it down flat. I can't believe they're here still on the possibility that a kid or two might come good and command a big price tag so it only leaves the JR. Given how it's gone so far you'd have to say that to keep going down the appeal road is a bigger gamble than hoping for a big profit of some kids. In fact I'd say it's a double gamble. The first gamble being that they could well lose at every possible stage of appeal and even if they do win there is no guarantees what financial gain will be available or how big any payout might be other than getting your costs back.

I'd say perhaps I can't see why they're still here because I'm not as smart as them but given how they've been out maneuvered over control of the Ricoh not once but twice I'm not so sure that's the case.

 

[olderskyblue]

There is a bigger game being played.... All will be revealed...eventually, I expect... :thinking about:

 

[skybluetony176]

Fisher said you never sell at the bottom of a cycle, and like it or not that's where we are, unfourtately I can't see how we can possibly improve things either too start an upturn,

Liquidation seems all but impossible due to all the debt being owed to SISU !

So "the futures bleak the futures SISU"

I admire your optimism in thinking we're at the bottom of the cycle. I'm sure SISU can drag us lower yet.

 

[Broken Hearted Sky Blue]

Surely and independent valuation is the way forward? Which would mean SISU pay someone £50m to take it off their hands?

I wonder if they are frantically looking for Hofs fag packet

 

[Hobo]

There is a bigger game being played.... All will be revealed...eventually, I expect... :thinking about:

This is what has been nagging at the back of my mind in the last two weeks..

i suspect Fisher and Joy squirmed in front of the TV tonight, Stoke City 76m TV revenue last year...Oh what might have been?

 

[NorthernWisdom]

This is what has been nagging at the back of my mind in the last two weeks..

i suspect Fisher and Joy squirmed in front of the TV tonight, Stoke City 76m TV revenue last year...Oh what might have been?

Stoke are, however, only in existence because Peter Coates subsidises them each year. They owe him a fortune, despite him writing a lot of it off.

The 'art' is the Milan Mandaric way. Get a club up relatively cheaply, then sell it on while it has value.

But this ain't good for long term health...

 

[Grendel]

This is what has been nagging at the back of my mind in the last two weeks..

i suspect Fisher and Joy squirmed in front of the TV tonight, Stoke City 76m TV revenue last year...Oh what might have been?

Stoke are massively in debt

 

[Broken Hearted Sky Blue]

Stoke are massively in debt

Good job we're not eh?

 

[skybluetony176]

Stoke are massively in debt

CCC fault probably.

 

[ccfcway]

Fisher said you never sell at the bottom of a cycle, and like it or not that's where we are, "

If only we were. I would be very surprised if this is the bottom.

 

[spider_ricoh]

I think they may well hang around to see if Wasps struggle financially with low crowds. If they sense Wasps are going to struggle, it may be worth keeping their hand in; if only to see if a low bid for a share of the Ricoh in 1-2 years can tempt Wasps to signing over at least a share. If Wasps really struggle, maybe SISU could even bid for them??

Meanwhile, expect the new stadium nonsense to go very quiet - SISU might as well sit it out for a while. Just as ML was the genius behind the disaster that was the JR, Timmy was the genius behind the rent boycott and bullying approach to ACL....expect him to make a quite ML-style exit before the winter is out. SISU will want to avoid undue haste but there's clearly nothing left for him now the new stadium is off and SW is CEO. Joy might as well save her his fees and get rid of his moronic "strategic thinking" at the same time.

That said, I hope to fuck they just one altogether - sell up to A. Nother and let's take our change. Good feckin' riddance.

 

[Hobo]

Stoke are massively in debt

13th largest in Premier League in 2013 71m, the lowest Wigan 53m.... The largest Manchester United over 300 million...your point?

the whole league is fucked?

I suspect they have assets to sell unlike SISU apart from Ryton, which the last I heard they have mortgaged (but might be wrong on that). I know the Inland Revenue turned up at the Ricoh pre Northampton to seize assets and found very little SISU owned.

 

[rupert_bear]

I still think the two big recent events, returning to the Ricoh and the Wasps deal are inter-linked and the next link will be ridding us of the cancer that is sisu. Think about it they have nothing now to stay for. Won't be getting their grubby mits on the stadium complex, attendances down to 7/8000, chairman Fisher admitting we can't afford the championship so where are sisu going to make any money ? No big player sales on the horizon. They have a chance to buy the Higgs shares and have 30 days to make an offer so lets see which way they go on that one. The only way they might make some money, real money and that is to sell the club, but when, to who and how much ??

 

[spider_ricoh]

Stoke are massively in debt

Do you agree that SISU have done an awful job at CCFC and should be wholeheartedly condemned by all fans as a result? If not, switch your brain back on think about it again.

It is truly comical how you will defend SISU and Timmy against any criticism and also have a go at anyone who suggests they are doing a crap job.

 

[Hobo]

Stoke are, however, only in existence because Peter Coates subsidises them each year. They owe him a fortune, despite him writing a lot of it off.

The 'art' is the Milan Mandaric way. Get a club up relatively cheaply, then sell it on while it has value.

But this ain't good for long term health...

you could say the same of Chelsea having rather large handouts, I remember the collection bins at the back of the Shed and they really were Londons paupers.

 

[Sick Boy]

Do you agree that SISU have done an awful job at CCFC and should be wholeheartedly condemned by all fans as a result? If not, switch your brain back on think about it again.

It is truly comical how you will defend SISU and Timmy against any criticism and also have a go at anyone who suggests they are doing a crap job.

Everyone thinks that sisu are terrible owners. It's the idiots like you who defend the council because of their hatred for sisu.

 

[spider_ricoh]

Everyone thinks that sisu are terrible owners. It's the idiots like you who defend the council because of their hatred for sisu.

I'm not defending the council ... just pointing out that SISU are trying to blame them when actually the blame lies exclusively with SISU themselves

 

[The Reverend Skyblue]

The two and a half hour drive is so awful that the only way I can continue regularly is if the product on the pitch entertains me, but ATM it's simply a dire watch after a dire watch and very soon if the product does not improve and Pressley plays a system his players understand and they show a commitment to the cause it will sadly come to an end..

near fifty years of watching Cov, and this is the worst team I have seen,the football is horrific to watch and the players so little ambition and fight that it gets harder and harder to make that bloody awful drive.

 

[covmark]

I'm not defending the council ... just pointing out that SISU are trying to blame them when actually the blame lies exclusively with SISU themselves

So you're defending them then.:facepalm: