skybluebeduff
Well-Known Member
between 4pm - 4:30pm, it will probably just be another futile attempt at making MP's actually care..
CCFC are being discussed at Westminster today (1 Viewer)
- Thread starter skybluebeduff
- Start date
Liquid Gold
Well-Known Member
Haven't they got more important things to do today?
clint van damme
Well-Known Member
not really!
clint van damme
Well-Known Member
isn't the aim of this not to put pressure on the football league?
Do you know if a league rep will be present?
Otis
Well-Known Member
Be lovely if it ran past 7pm and delayed the Brexit vote.
Can you imagine every TV live feed in Europe having to say the British parliament are discussing Coventry City football club at the moment.
Warwickhunt
Well-Known Member
An MP's view - MMMM! Brexit or City debate? "Nah! Think i will leave early and go and watch some TV"
clint van damme
Well-Known Member
I have heard that they want to engage the football league and get them to put some pressure on sisu, might just be gossip and I personally haven't got a lot of faith in the EFL to be honest.
clint van damme
Well-Known Member
so they shouldn't do anything?
Nick
Administrator
The thing is though, the football league can't put pressure on somebody to drop legal action they are entitled to take. Yeah it's bollocks but legally they are able to do it.
What can the EFL do or say? They can't say "Drop the legal action else you will be kicked out of the league" as that sets a precedence then and opens up a massive can of worms.
What realistically can the EFL do?
One approach would be getting the rules changed to stop people taking the piss with legal action so that SISU physically can't raise legal action after so many tries. Guessing that would be a mammoth task with the whole legal system.
clint van damme
Well-Known Member
I don't know what they're hoping to achieve to be honest, but I'd rather see a local MP or MPs trying to do something rather than sitting on their hands.
Nick
Administrator
we had this a few years back when CCFC were discussed in Parliament. The video showed that about 20 people were in the Chamber. Probably even less today with the other stuff going on
If it's the same one I saw there was a bloke who looked like he was asleep from earlier.
Corrado
Well-Known Member
There is nothing they can do! Legally they are not doing anything wrong (apparently)
Houchens Head
Fairly well known member from Malvern
They'll probably end up playing candy Crush!
NorthernWisdom
Well-Known Member
Exactly. Boddy was all for Cunningham's intervention anyway, so it's not like he's got the club's back up or owt.
Captain Dart
Well-Known Member
Oi, I already said that days ago & seemingly no one noticed. Why am I always ahead of the curve?
Well we have Wasps in one corner and Sisu in the other both with their heels dug in which threatens our future if either one or better still both can be persuaded to change their stance then our “having no ground” situation can be remedied. Being brought up in the House might help, might not but it’s worth a shot.
skyblueinBaku
Well-Known Member
Is this get-together being broadcast anywhere?
ccfcrob
Well-Known Member
oldskyblue58
CCFC Finance Director
Surely better to try something, to push every avenue than to sit and just let the club become homeless & die.
I would suggest this matter is more pressing than waiting & hoping for the end of the season to sort out. At the end of February the club has to have its audited accounts signed off. If not filed on time that's a problem at Companies House and EFL but leaves open the possibility of a deal still being done. If filed as not being a going concern because there is no ground to play at next season (no plan A or plan B etc) that could finish the season/club right there. Directors and auditors have to look forward at least 12 months from date of signature to assess if company a going concern. If the directors and/or auditors sign off as not a going concern no one would trade with us anymore. Wouldn't surprise me if the accounts are not filed for several months after due date
So personally, although the MP's might not achieve anything directly, any pressure or focus on any of the sides involved is welcome in my book
I would suggest this matter is more pressing than waiting & hoping for the end of the season to sort out. At the end of February the club has to have its audited accounts signed off. If not filed on time that's a problem at Companies House and EFL but leaves open the possibility of a deal still being done. If filed as not being a going concern because there is no ground to play at next season (no plan A or plan B etc) that could finish the season/club right there. Directors and auditors have to look forward at least 12 months from date of signature to assess if company a going concern. If the directors and/or auditors sign off as not a going concern no one would trade with us anymore. Wouldn't surprise me if the accounts are not filed for several months after due date
So personally, although the MP's might not achieve anything directly, any pressure or focus on any of the sides involved is welcome in my book
Skybluefaz
Well-Known Member
Post lunch as well. It'll only be the ones on coke that will still be awake.we had this a few years back when CCFC were discussed in Parliament. The video showed that about 20 people were in the Chamber. Probably even less today with the other stuff going on
Captain Dart
Well-Known Member
My gut feeling is that the Supreme Court will tell SISU/CCFC they can't proceed with their appeal and a last minute deal will be done, but if I were Wasps I would insist upon a minimum 5 year deal and a £250,000+ escrow held to cover legal costs should any further action be undertaken in the period of the contract.
Anyway all we can do is wait to see how it pans out.
Anyway all we can do is wait to see how it pans out.
Nick
Administrator
The thing with that is that Wasps will quite easily sit back until February knowing that.
In the meantime it means there needs to be a plan B which is not playing at the Ricoh and potentially moving us which has to be looked at.
As we already know it's not really about the legal stuff, I can see another engineered attempt at a takeover happening like with ACL by distressing CCFC.
It's a massive game of Poker.
Is it just about exposure and get people talking or do the MPs have any power over it all? Even the EFL, they can try to apply the law's strictly but as it's way out of the club's hands I can only see them making exceptions.
oldskyblue58
CCFC Finance Director
The thing with that is that Wasps will quite easily sit back until February knowing that.
In the meantime it means there needs to be a plan B which is not playing at the Ricoh and potentially moving us which has to be looked at.
As we already know it's not really about the legal stuff, I can see another engineered attempt at a takeover happening like with ACL by distressing CCFC.
It's a massive game of Poker.
Is it just about exposure and get people talking or do the MPs have any power over it all? Even the EFL, they can try to apply the law's strictly but as it's way out of the club's hands I can only see them making exceptions.
If you were wasps you would probably say "not our problem" and do nothing.
If there is a Plan B then for the survival of the club in some form i hope SISU, Fisher & Boddy have it in place ready to go. They are not going to tell us yet though if that is the case
You see a takeover doesnt necessarily follow. Wasps are in no financial position to start running a loss making football club that if successful will require more funding. It might actually suit SISU for the end game to be forced and just liquidate CCFC, just depends on their assessment of what is best for their investors. Those are the only two parties that can force the issue
but yes it is a game of poker and the football side of the club is not in control of this
Nick
Administrator
It doesn't have to be Wasps taking us over.
I know that Boddy has been whipping it up but they really do have to have some sort of emergency plans in place. They will already have things sent to the EFL "This is why we cant play at the Butts, the council tried to block it" etc.
Like you say if the end game is "forced" then is there another court case and even more "damages"?
oucho
Well-Known Member
Sorry if this has been discussed before, but is there a means where any of the parties, probably Wasps, can go to the Supreme Court and say "look, we want a decision from you in order to allow CCFC to kick off at the Ricoh in August", and use that urgency to petition for an earlier hearing on the basis that if the Supreme Court ends the JR2 and backs Wasps, there will be no ongoing legals and thus no barrier to coming to a rent agreement. Of course if Sisu win it is a different ball game, and of course SIsu could choose to take further legal action...........but this could be one approach.
Seems familiar. If CCFC cannot play, everyone including Wasps lose. Even Joy will have to admit to her investors that any hope of selling CCFC have gone. The losses caused by her investment will be obvious. Her only hope would be an unlikely court win. What a mess.
oucho
Well-Known Member
Has it ever been stated how much visibility Sisu's investors have of individual investments like CCFC? It may be that they invest in funds comprising a varied basket of investments rather than a single company investment, and so are either unaware or not too bothered about CCFC provided that their wider investment sees a positive return.
CJ_covblaze
Well-Known Member
The issue with her having to answer her investors is what if they've already been repaid? Lets say Mr Jones invested £5m into the investment fund and would like a return of 20% and his money was used to acquire or grow 5 different entities. After 5 years he wants out and 2 of those organisations have done very well, 1 has done ok, 1 is at the same value and the other one has lost money. If that portfolio is now worth over £6m Mr Jones is happy and isn't really going to care where that 20%+ yield has come from as long as everything's above board.
I doubt there are many people who have invested into hedge funds and their capital has only gone into one place. In fact I'd bet some investors may not even know where their money has gone and won't ask unless it's failed. With regards to overall failure I'm guessing if that was the case we'd know about by now as 11 years is a very long time.
CJ_covblaze
Well-Known Member
Oucho, are you sat on the desk next to mine? You put it far better than I did btw!
