Nonleagueherewecome
Well-Known Member
In the Coventry Mad piece about Swedish investment, they say:
"Coventry City FC, which it is understood can be bought for a pound as long as the debts to its creditors which include SISU who according to the accounts of Sky Blue Sport and Leisure are owed money are paid off."
If true, surely this is a bigger story than the Telegraphs front page piece? It seems to hint at my long-running conspiracy theory that they have not paid off all the debts. As far as SISU are concerned, the club now just owes that 32m to them instead!
This is that shadowy business of establishing Coventry City Holdings as a seperate limited company, which will in due course be revealed as oweing money to the parent group. Their idea of "investment" will probably be treated as more money to be paid back at a later stage, and added to the cost of buying the club for any future buyer.
Now maybe I'm being stupid here, but can you really owe your owner money? Surely the owner is liable for the debts of a business they own? If I own a shop that is doing well, I benefit from the profits. If I invest in it and it does badly, I lose that money. I can't then turn round and claim that it owes me the money I invested! They can't have it both ways..But this implies that SISU don't own CCFC, they're just owed a heap of cash by it.
Given that Southampton tried to claim that the parent company was seperate from the football club shortly before they went into admin, I expect the new chairman is entirely on message with SISU's view of financial banditry. As the Pompey fan said yesterday, the biggest puppett in the world of football.
"Coventry City FC, which it is understood can be bought for a pound as long as the debts to its creditors which include SISU who according to the accounts of Sky Blue Sport and Leisure are owed money are paid off."
If true, surely this is a bigger story than the Telegraphs front page piece? It seems to hint at my long-running conspiracy theory that they have not paid off all the debts. As far as SISU are concerned, the club now just owes that 32m to them instead!
This is that shadowy business of establishing Coventry City Holdings as a seperate limited company, which will in due course be revealed as oweing money to the parent group. Their idea of "investment" will probably be treated as more money to be paid back at a later stage, and added to the cost of buying the club for any future buyer.
Now maybe I'm being stupid here, but can you really owe your owner money? Surely the owner is liable for the debts of a business they own? If I own a shop that is doing well, I benefit from the profits. If I invest in it and it does badly, I lose that money. I can't then turn round and claim that it owes me the money I invested! They can't have it both ways..But this implies that SISU don't own CCFC, they're just owed a heap of cash by it.
Given that Southampton tried to claim that the parent company was seperate from the football club shortly before they went into admin, I expect the new chairman is entirely on message with SISU's view of financial banditry. As the Pompey fan said yesterday, the biggest puppett in the world of football.