Another business acting responsibly - The Ritz Hotel has not paid any corporation tax for 7 years
Sisu have taken an unauthorised 12 month payment holiday, ACL have offered to lower the "mortgage" by 2/3rd's, have given 10 years to pay off the missed payments and thrown in some massive freebies. You arn't getting a bank that resonable anywhere.
I want to pay the minimum amount of rent as much as any City fan and I'm biased towards our club like we all are but I don't see how any reasonable person can look at ACL's offer and SISU's actions and not conclude that ACL are unbeliveably reasonable and SISU are acting completely unacceptably.
You know what is worrying is that since SISU have been here if you reduced the rent to £170k pa they would still have had to fund at least £35m in group losses since January 2008. That to me indicates that far from the money saved in rent being invested in the team, CCFC would simply have borrowed £6m less from the owners. </p>
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<p>We would still be on the edge financially. </p>
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<p>appointment of restructuring experts to advise is just a prudent thing to do from SISU's perspective. You would expect them to plan for all eventualities and protect what they have. Doesnt really change our position does it.
and then who pays off yorkshire bank?
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Who do you think should pay off Yorkshire bank then? Remember this is the real world, a £20m mortgage doesn't just go away because you dont like it.
Which can when you put it in context with what this thread was originally about, only mean CCFC have no money left to pay the rent regardless of the figure and SISU cannot or will not bail them out. Remember people when this goes wrong only CCFC go bust not SISU!!
They can sell a player
They can sell a player
And I'm sure no one on here would whinge if we did. Or if we didn't sign McG.
And I'm sure no one on here would whinge if we did. Or if we didn't sign McG.
People have every right to complain about SISU. During their tenure, we've seen every scrap if talent sold, gates almost half, drop to our lowest league position in living memory, be dragged through courts, and most embarrassing of all, these 'money people' can't even complete due diligence or execute a business plan.
As a body of people with the task of running our football club, they've given folk a lot of genuine cause for complaint, and can't feel hard done by when they are the focus of a few 'whingers'...
Are we talking sisu or any of the owners in the last 30 years.
Are we talking sisu or any of the owners in the last 30 years.
Are we talking sisu or any of the owners in the last 30 years.
Don't remember being "dragged through the courts" or being in the third division with any of those other owners in the last 30 years.
Don't remember being "dragged through the courts" or being in the third division with any of those other owners in the last 30 years.
I remember not paying transfer fees for players who carried on playing for us. I remember local creditors owed money, the inland revenue owed £5 million and I remember losing a ground and being stitched up to play at another.
Ah yes, I remember that.
Strange most Coventry fans seem to have lost their mid and long term memory. Everything beyond 5 years ago is just a sky blue blur.
Or sell some of the advisers, consultants, jobsworths, experts and hangers on we've got on the books? Must have enough for a couple of teams now....
They came in with what was asserted to be a dean slate and declared us 'debt free'. Look at where we are now. It's hard to believe they could have done much worse if they'd have tried.
Forget a comparison with previous regimes, although I share your frustration in that regard, how about a comparison with Southampton, or Leicester? That's a more valid one to ponder than that which happened in the '80s and '90s
I remember not paying transfer fees for players who carried on playing for us. I remember local creditors owed money, the inland revenue owed £5 million and I remember losing a ground and being stitched up to play at another.
So given your response, I assume that you don't remember us being "dragged through the courts" or being relegated to division 3 either.
They came in with what was asserted to be a dean slate and declared us 'debt free'. Look at where we are now. It's hard to believe they could have done much worse if they'd have tried.
Forget a comparison with previous regimes, although I share your frustration in that regard, how about a comparison with Southampton, or Leicester? That's a more valid one to ponder than that which happened in the '80s and '90s
You want to compare us to Leicester! So you want to go into administration owing a fortune to local creditors then find an ex footballing icon from the club to reform them with zero consequences for the debts?
Gary Linekar has always said that he feels supporters should never suffer if clubs can't pay their way. I'm staggered you agree with him.
Oh I see. I didn't realise how narrow your criteria was. It doesn't really matter about all the other disasters, just being "dragged through the courts"? Well, if we ignore everything else then yes, you're spot on.
Hmmmmmm.
If you care to retread the thread you might see that I was trying to highlight the fact that MMM's points had been sidestepped - what you might perhaps refer to as narrowing the criteria.
That'll teach me to be subtle......
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