Apparentl Joy threatens liquidation if half stadium is vetoed (1 Viewer)

[sotv1987]

I’ve just had a text off my mate, who’s brother works at the Ricoh, I don’t know how true this is but this was the text….
Joy Seppala has told Clr John Mutton that if the council vote against SISU buying Higgs half of the stadium, she will put the club in to liquidation straight away!!!!
I thought that a deal was already sorted, I didn’t realise the council had to vote on it.
Is this correct??????

 

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[covcity4life]

they can veto,i hope they dont though, club needs to move forward.

 

[chiefdave]

I would guess that the process would be that SISU would agree a deal with Higgs as it's their half they're looking to purchase. The council then has a veto over any change in ownership so they would have a vote on that basis.

 

[Nick]

The deal was agreed in principle, still loads of work to do I think.

 

[Tad]

If Joy thinks threats will work against the Council she's pretty dumb. Their job isn't any concern of the club.

 

[valiant15]

Liquidate it then you greedy old slapper.

 

[Gaz]

I think your right, the council want the area around the Ricoh to be built up and jobs created.
Weather the football club needs to be there for that to work is the question.
I'm sure that the Arena can work without Ccfc, which is a worry.

 

[torchomatic]

"Apparently". I must say that SISU seem to be telling everyone at the Ricoh about confidential, highly-sensitive negotiations over the stadium.

 

[torchomatic]

That's the spirit. Who do you support again?

Liquidate it then you greedy old slapper.

 

[fernandopartridge]

"Apparently". I must say that SISU seem to be telling everyone at the Ricoh about confidential, highly-sensitive negotiations over the stadium.

That's on the assumption that the threat hasn't been leaked by the council itself, OR, that the thread isn't a load of bullshit, just a re-hashed story from the summer.

 

[Grendel]

"Apparently". I must say that SISU seem to be telling everyone at the Ricoh about confidential, highly-sensitive negotiations over the stadium.

You mean this rumour may not be true? I am stunned. I was already reserving my spot at the Memorial Park for our next game.

 

[hill83]

Liquidate it then you greedy old slapper.

You absolute plank

 

[valiant15]

Why's that then?

 

[valiant15]

I support ccfc torch not sisu like you do. Lets just bend over and give them what they want eh?

 

[hill83]

Why's that then?

I actually need to explain why? Anyone else fancy doing it?

 

[SkyBlueScottie]

Liquidate it then you greedy old slapper.

Oh dear.....

 

[valiant15]

I see the usual sisu rent boys are out in force. Are you actually condoning the bullying by seppalla and co? Is it ok to bully people cos its for the club then?(if true).

 

[oldskyblue58]

exactly the place i said i thought that SISU have manouevered the club and council to ........... now if it all fails it will be the councils fault. They are relying on the council not having the nerve to play hard ball

brinksmanship to whose benefit ? ............... certainly not CCFC's in the short term (next 3 or 4 years) because it gains no income ........ so you have to assume a greater plan that recoups SISU hedge funds their "investment"

I am surprised that any one is surprised or that any one doubts what is "apparently" going on ......

 

[hill83]

I see the usual sisu rent boys are out in force. Are you actually condoning the bullying by seppalla and co? Is it ok to bully people cos its for the club then?(if true).

Of course I don't condone it, and if true i'll be kicking off about it.

But to petulantly say she should go ahead and liquidate the club makes you sound retarded.

 

[skyblueinBaku]

I'm sure that some hot-shot reporters from the CT are investigating right now. Expect a hard hitting story soon..............

 

[torchomatic]

Funny you should say that. I have just received this picture from my sources at the Ricoh. I can't reveal the name of the man on the right. We shall call him Andy T. The man on the also left wished to remain anonymous. We shall call him Tim F.

Hush hush, say no more, Mum's the word.

I'm sure that some hot-shot reporters from the CT are investigating right now. Expect a hard hitting story soon..............

 

[skyblueman]

She won't not now not just over this - it's just posturing if true - OK so by now she will have worked out we are League 1 for another season after this so a £5 MILLION hole in the cash flow unless they get lucky with another player sale or two - but the ACL deal gives the club no cash benefit at all for years so that's not the answer anyway - club needs to get back to positive cash flow quickly - it will be the losses that finish us not the ACL deal

 

[torchomatic]

News just in!!!

Another exclusive. Sorry about the piss poor quality of the image, it was taken on an iPhone 5. This was taken in the Casino FIVE minutes ago.

On the left is Tandy Urner and on the right, a mysterious dame we shall call Joy.

 

[aodea]

Not a hope she would liquidate the club now. as i understand we dont gain much financial benifit from the deal anyway so she is not going to cut her losses over this its just a sound bite to get the deal Passed.

Mondays and this nonsense depress me.

 

[sky blue john]

So does this liquidation happen now and Sisu go back on the yearly agreement to the football league about funding the club until the end of the season

 

[skyblueinBaku]

exactly the place i said i thought that SISU have manouevered the club and council to ........... now if it all fails it will be the councils fault. They are relying on the council not having the nerve to play hard ball

brinksmanship to whose benefit ? ............... certainly not CCFC's in the short term (next 3 or 4 years) because it gains no income ........ so you have to assume a greater plan that recoups SISU hedge funds their "investment"

I am surprised that any one is surprised or that any one doubts what is "apparently" going on ......

If true, it comes as no surprise to me, OSB. However, I don't think too many people would blame ACL or the Council if Sisu liquidated the club. It has become very clear that Sisu are interested only in the Ricoh and the development land around it. If liquidation happened, the blame would lie fairly and squarely with Sisu and surely people would see that. I have been waiting for some 'hard-man' tactics from Sisu. This could be it - if the story is true.

 

[skyblueman]

So does this liquidation happen now and Sisu go back on the yearly agreement to the football league about funding the club until the end of the season

As SISU are obviously funding the club putting the cash in as required to keep it solvent then yes it's their call and they can put it in admin as they want to

 

[Chipfat]

Even if this story is a load a shite, would anyone really be shocked if this is how SISU will play it in the end... They want the share as it secures the investment, as soon as they get this they will openly talk to potential buyers and walk with profit... The problem they will have is the council will not just roll over, the deal will not involve development and SISU have still no plan of how and what they intend short ,mid and long term for the club, no matter what TF tells us...

 

[skyblueman]

Even if this story is a load a shite, would anyone really be shocked if this is how SISU will play it in the end... They want the share as it secures the investment, as soon as they get this they will openly talk to potential buyers and walk with profit... The problem they will have is the council will not just roll over, the deal will not involve development and SISU have still no plan of how and what they intend short ,mid and long term for the club, no matter what TF tells us...

Getting the half share at a big discount from ACL makes their investment look a lot less sick but my no means does it get them into profit territory

Club is still losing millions a year and will do for another couple of years at least and has virtually no assets (players aside - make up your own number here) and bags of liabilities

Can't see 'em queuing up for it

 

[Sky Blue Sheepy]

I was under the impression they couldn't liquidate us without going through administration procedures first anyway so can't say I buy this...

 

[skyblueman]

I was under the impression they couldn't liquidate us without going through administration procedures first anyway so can't say I buy this...

No they don't have to go into administration first - they can liquidate if they want to provided the funds are still being made available to keep it solvent - SISU can do this if they want to

Administration is required by law if the company is insolvent and may or may not result in liquidation - that decision would be out of SISU hands if it were in Admin first

 

[thegameaintstraight]

OSB- given the meagre details we have you are right. SISU will blame the Council if liquidation happens and so will many fans. However this need not be so. CCFC is bedevilled by its near unfathomable ownership structure and therefore it is hard to see how the Council can ensure that SISU could not cash in on CCFC/ Ricoh if it suited them. Of course negotiations must be confidential but some better explanation by the Council of the problems would help everyone understand better why we are where we are.
One final thought, it never pays in the end to appease dictators.

 

[oldskyblue58]

I think that we just have to accept where we think we are thegameaintstraight......... SISU are playing a long game both in terms of their objectives but also in terms the length of time to get this done. First off before they cash in on the overall plan they need the general economy to recover in order to maximise return that wont happen in the next couple of years....... more immediately they need to weaken ACL to a point where it is running out of cash, I have no idea when that might be but sometime next year say mid to end 2013, at that point ACL is vulnerable and SISU will strike to gain full control. So whilst there may be the comments of sell or else we liquidate it suits SISU to string it out. It doesnt suit ACL because it is starved of income

In the meantime i think silence is the best course of action for all parties. Last thing that ACL or anyone needs is a councillor or someone saying the wrong thing. Silence by SISU is of course normal practice so nothing new there. It is also important for the development of the team so that the distractions, worries, financial crisis etc are kept under wraps and league performance concentrated on.

Like i say the fans just need to accept things are going on behind the scenes, we are not going to be told and the outcome remains to be seen. Means we can concentrate on the football for a change i guess

 

[ajsccfc]

Sounds like bollocks really.

 

[mexico88]

exactly the place i said i thought that SISU have manouevered the club and council to ........... now if it all fails it will be the councils fault. They are relying on the council not having the nerve to play hard ball

brinksmanship to whose benefit ? ............... certainly not CCFC's in the short term (next 3 or 4 years) because it gains no income ........ so you have to assume a greater plan that recoups SISU hedge funds their "investment"

I am surprised that any one is surprised or that any one doubts what is "apparently" going on ......

Please, if there is any part of you that still thinks SISU are 'turning things around' or 'making good progress' - listen to what OSB has said. CCFC is NOT a concern for SISU.

If this 'apparently' was the case - I would ask SISU, "If you truly believe that football club can turn it's finances around under your stewardship, and the council don't help you out - why not just find somewhere cheaper to play?" - the price they pay to play is not even relevant.

Every company needs a back-up plan, right?

The council are the only ones actually trying to hold on to something that safeguards the football club. Ask yourself, in 5 years from now, with SISU holding their half of the areana, results running poor, club dropping divisions...

Will SISU fight as hard to safeguard the football club as the council are doing now?