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are we preparing for admin or promotion? (1 Viewer)

  • Thread starter BigadamL
  • Start date Jul 10, 2012
Forums New posts

BigadamL

Well-Known Member
  • Jul 10, 2012
  • #1
instead of having a squad that can push for promotion in the back of my head all i can think is that we are just getting a squad together that can just cope with the 10 points loss we will get with admin.

is anybody else feeling this way?:thinking about:
 

Astute

Well-Known Member
  • Jul 10, 2012
  • #2
So what you are saying is SISU might put us into admin so SISU will be owed less money by our club? :thinking about:
 

mr_monkey101

New Member
  • Jul 10, 2012
  • #3
BigadamL said:
instead of having a squad that can push for promotion in the back of my head all i can think is that we are just getting a squad together that can just cope with the 10 points loss we will get with admin.

is anybody else feeling this way?:thinking about:
Click to expand...

for the last time.... we are not going into admin as the people that we owe the most money to is sisu themselves so it would not be in their best interests to put us into admin
 

standupforcity

Well-Known Member
  • Jul 10, 2012
  • #4
BigadamL said:
instead of having a squad that can push for promotion in the back of my head all i can think is that we are just getting a squad together that can just cope with the 10 points loss we will get with admin.

is anybody else feeling this way?:thinking about:
Click to expand...

Go away voice of doom!
 

skyblueman

New Member
  • Jul 10, 2012
  • #5
mr_monkey101 said:
for the last time.... we are not going into admin as the people that we owe the most money to is sisu themselves so it would not be in their best interests to put us into admin
Click to expand...

At this time I don't think they will, although have thought so in the recent past, however they may well want to put the club in Administration if they did not want to fund losses going forward - forget about the balance sheet debt - it's the FUTURE LOSSES that are the issue here
 
B

Brighton Sky Blue

Well-Known Member
  • Jul 10, 2012
  • #6
The club essentially is in a state of administration. The group's debt is all to SISU or SISU related companies-it is entirely up to them whether they write off a portion of it, or keep pushing to get all of it back. The third option is that someone takes the club off their hands and offers a direct return. Unfortunately no such madmen exist with the cash to do this.
 

coundonskyblue

New Member
  • Jul 10, 2012
  • #7
<p>
mr_monkey101 said:
for the last time.... we are not going into admin as the people that we owe the most money to is sisu themselves so it would not be in their best interests to put us into admin
Click to expand...

If acl decides enough is enough sisu might not get a say in the matter.
 
B

Brighton Sky Blue

Well-Known Member
  • Jul 10, 2012
  • #8
ACL will be content as long as they're getting their money from the escrow. That runs empty in August meaning the September payment is when things get interesting.
 

skyblueman

New Member
  • Jul 10, 2012
  • #9
Brighton Sky Blue said:
ACL will be content as long as they're getting their money from the escrow. That runs empty in August meaning the September payment is when things get interesting.
Click to expand...

Agreed - this is a key milestone - money required and all players who could be sold will have to be sold by then - SISU will have to use cash to replenish this account when they are sitting on whatever proceeds they can get from sales over the next few weeks - then and only then we will know their minds...
 

ccfcway

Well-Known Member
  • Jul 10, 2012
  • #10
isnt it the Aug payment that wont be coming ?

It runs dry this month.

This will be the 4th month not paid, so 4 x £100k - £440k. There is only £500k in the pot, meaning the Aug payment will be way short
 

Sky Blues

Active Member
  • Jul 10, 2012
  • #11
ccfcway said:
isnt it the Aug payment that wont be coming ?

It runs dry this month.

This will be the 4th month not paid, so 4 x £100k - £440k. There is only £500k in the pot, meaning the Aug payment will be way short
Click to expand...
4 x £100k = £440k ? With that kind of accounting skill you could get a job with SISU!
 
Last edited: Jul 10, 2012

ccfcway

Well-Known Member
  • Jul 10, 2012
  • #12
yer, i meat £110k, isnt it £110k a month ?
 

skyblueman

New Member
  • Jul 10, 2012
  • #13
Isn't it £100k a month? 12 x 100k = 1.2M? or is it not spread evenly over the year?
 

Sky Blues

Active Member
  • Jul 10, 2012
  • #14
It has been reported by the CT as £100,000 a month and £1.2m a year.
 

skyblueman

New Member
  • Jul 10, 2012
  • #15
OK then so that's end of August then - agreed everyone? Timing is perfect for SISU
 

oldskyblue58

CCFC Finance Director
  • Jul 10, 2012
  • #16
thats just the rent what about other expenses and costs that might be due to ACL ? Some staff are shared, should imagine there will be some utilities recharged ..... are those costs up to date or covered by the escrow account? or are these overdue ?
 

Wrenstreetcarpark

New Member
  • Jul 10, 2012
  • #17
So the debts are not just to Sisu and its web of companies but to ACL. The rent debt must now be climbing to around half a million pounds. So what happens next?
 
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