Clever move by SISU (1 Viewer)

Voice_of_Reason · Mar 22, 2013

I hate and loath SISU with a passion and wish they would just ferk off. However, SISU's latest move literally wipes of all debts, including the rent on the Ricoh. It all depends on whether or not ACL's legal agreement is with Coventry City FC Ltd or Coventry City (Holdings) Limited. Does anyone know ? Coventry City Ltd has no assets (according to CET). Clever move, but what a mess we are now in. Does this mean ACL will need to negotiate a new deal with Coventry City (Holdings) Ltd if ACL want to keep football at the Ricoh.

Flying Fokker · Mar 22, 2013

Yes. 400k plus up front sum of 1.5 million.

skyblueman · Mar 22, 2013

Voice_of_Reason said:
I hate and loath SISU with a passion and wish they would just ferk off. However, SISU's latest move literally wipes of all debts, including the rent on the Ricoh. It all depends on whether or not ACL's legal agreement is with Coventry City FC Ltd or Coventry City (Holdings) Limited. Does anyone know ? Coventry City Ltd has no assets (according to CET). Clever move, but what a mess we are now in. Does this mean ACL will need to negotiate a new deal with Coventry City (Holdings) Ltd if ACL want to keep football at the Ricoh.

Yep new deal will have to be struck.. Well for a start it's £1.4 Million good will payment and £1.2Million a year!!!

SkyBlueJohnso · Mar 22, 2013

skyblueman said:
Yep new deal will have to be struck.. Well for a start it's £1.4 Million good will payment and £1.2Million a year!!!

payable at least 1 year up front, with a years rent as a security bond!!!!!

Flying Fokker · Mar 22, 2013

Nobody trusts SISU.

CJparker · Mar 22, 2013

ACL will still be dealing with the same people at CCFC/SISU, so in practice the slate isn't exactly wiped clean

rupert_bear · Mar 22, 2013

New deal or not, wiped £1.3million debt or not SISU will still have to subsidise a failing business to the tune of about 5million a year

skyblue1523 · Mar 22, 2013

Voice_of_Reason said:
I hate and loath SISU with a passion and wish they would just ferk off. However, SISU's latest move literally wipes of all debts, including the rent on the Ricoh. It all depends on whether or not ACL's legal agreement is with Coventry City FC Ltd or Coventry City (Holdings) Limited. Does anyone know ? Coventry City Ltd has no assets (according to CET). Clever move, but what a mess we are now in. Does this mean ACL will need to negotiate a new deal with Coventry City (Holdings) Ltd if ACL want to keep football at the Ricoh.

This will backfire badly on SISU the reason it will backfire is because the football league will think CCFC are trying to get one over them.we ll get into the playoff berth this weekend just for it to be took away from us with a -10

Ashdown1 · Mar 22, 2013

5 million a year my arse, the removal of Wood, Bell and Sheffers this summer, plus the revised rent deal would have had us breaking even with the same level of support !

wingy · Mar 22, 2013

Voice_of_Reason said:
I hate and loath SISU with a passion and wish they would just ferk off. However, SISU's latest move literally wipes of all debts, including the rent on the Ricoh. It all depends on whether or not ACL's legal agreement is with Coventry City FC Ltd or Coventry City (Holdings) Limited. Does anyone know ? Coventry City Ltd has no assets (according to CET). Clever move, but what a mess we are now in. Does this mean ACL will need to negotiate a new deal with Coventry City (Holdings) Ltd if ACL want to keep football at the Ricoh.

Its not so smart really if you think they have got away with not paying,they may yet have to pay.The real news here is they have broken the lease.

GaryPendrysEyes · Mar 22, 2013

Wonder what Stephen Pressley makes of this?-- the 'reassurances' seem to be ahem not 100%....

Generally, the end is nigh for Sisu at CCFC. 5 years of incompetence and fiasco after fiasco.

stupot07 · Mar 22, 2013

GaryPendrysEyes said:
Wonder what Stephen Pressley makes of this?-- the 'reassurances' seem to be ahem not 100%....

Generally, the end is nigh for Sisu at CCFC. 5 years of incompetence and fiasco after fiasco.

Hopefully Robinson, Richardson and Elliott will come and save the day......

mattylad · Mar 22, 2013

skyblue1523 said:
This will backfire badly on SISU the reason it will backfire is because the football league will think CCFC are trying to get one over them.we ll get into the playoff berth this weekend just for it to be took away from us with a -10

Actually you will find there is a lot of sympathy for CCFC in the football world, its SISU that no one likes.

dongonzalos · Mar 22, 2013

Voice_of_Reason said:
I hate and loath SISU with a passion and wish they would just ferk off. However, SISU's latest move literally wipes of all debts, including the rent on the Ricoh. It all depends on whether or not ACL's legal agreement is with Coventry City FC Ltd or Coventry City (Holdings) Limited. Does anyone know ? Coventry City Ltd has no assets (according to CET). Clever move, but what a mess we are now in. Does this mean ACL will need to negotiate a new deal with Coventry City (Holdings) Ltd if ACL want to keep football at the Ricoh.

SISU were looking to this last year when
Tim told us the stuff they were setting up that OSB spotted was normal business.
They held back from going through with it so it can't be full proof. They have only done it now as they felt they have nothing to lose

GaryPendrysEyes · Mar 22, 2013

stupot07 said:
Hopefully Robinson, Richardson and Elliott will come and save the day......

Oh the 'I hope my sister stays with a wife beater because she may end up with Peter Sutcliffe argument' yawwwwn

skyblue1523 · Mar 22, 2013

mattylad said:
Actually you will find there is a lot of sympathy for CCFC in the football world, its SISU that no one likes.

yeah but it wont stop the league given us -10,im not for sisu or acl/ccc the club should have the ground and stay in the hands of ccfc.whats happening to our club is utter shit and the only people you can blame is sisu ACL/CCC all 3 parties are in it for their own purpose and not for ccfc

skybluegnome · Mar 22, 2013

skyblue1523 said:
This will backfire badly on SISU the reason it will backfire is because the football league will think CCFC are trying to get one over them.we ll get into the playoff berth this weekend just for it to be took away from us with a -10

But wouldn't that happen anyway if ACL had succeeded with their plan...

SkyBlueScottie · Mar 22, 2013

Flying Fokker said:
Yes. 400k plus up front sum of 1.5 million.

skyblueman said:
Yep new deal will have to be struck.. Well for a start it's £1.4 Million good will payment and £1.2Million a year!!!

SkyBlueJohnso said:
payable at least 1 year up front, with a years rent as a security bond!!!!!

Why would you propose a deal which is clearly detrimental to the football club you supposedly support?

grego_gee · Mar 22, 2013

Not much wrong with SISU,

Would you sooner have the moguls that are running Manu or Liverpool?
Everybidy hates their owners they're all just in it for the money.
What SISU have done is stand up to the BULLY - ACL!
And don't start shouting SISU were the BULLY! In this situation there was only one party with strength, that was ACL who tried to enforce an onerous rent deal that SISU had not signed but inherited!
I am glad to see ACL biting the bullet and saying there will not be a lockout. That is very good for all concerned and now I hope they will get round a table and agree a reasonable rent deal, 170k ish.
Hopefully the FA will not give the 10pt reduction, theres a chance that they will.
Its a chance SISU had to take. Although we might get into the playoff zone today we are unlikely to stay in it at the end of the season other teams around us have better points average!
SISU have done what they had to do and I see nothing to say they are a "bad" owner. What else is there to critisize other than getting out of the rent deal that they didn't sign in the first place.

imp:

skyblue1523 · Mar 22, 2013

skybluegnome said:
But wouldn't that happen anyway if ACL had succeeded with their plan...

ACL have been duped by sisu their was no way they would liquidate the club to much to lose but ACL fell for it .SISU wanted this to happen to make ACL/CCC show their hand much more to come from this .

Sky Blue Kid · Mar 22, 2013

greo_gee.....

And don't start shouting SISU were the BULLY! In this situation there was only one party with strength, that was ACL who tried to enforce an onerous rent deal that SISU had not signed but inherited!

So why did they carry on and inherit it then???.....SISU knew everything but carried on regardless..Stop making excuses for SHITSU. they got everything they deserved!

mattylad · Mar 22, 2013

skyblue1523 said:
ACL have been duped by sisu their was no way they would liquidate the club to much to lose but ACL fell for it .SISU wanted this to happen to make ACL/CCC show their hand much more to come from this .

I said this last week and got shot sown, I think ACL have played straight in to what SISU wanted all along.

mattylad · Mar 22, 2013

Sky Blue Kid said:
greo_gee.....

And don't start shouting SISU were the BULLY! In this situation there was only one party with strength, that was ACL who tried to enforce an onerous rent deal that SISU had not signed but inherited!

So why did they carry on and inherit it then???.....SISU knew everything but carried on regardless..Stop making excuses for SHITSU. they got everything they deserved!

Have either side been a bully? I think its just hard nosed business folk doing what hard nosed business folk do! Sadly the hard nosed business men on each side don't give a flying feck about the supporters in the
middle of it all.

japandy · Mar 22, 2013

i love SISU. Its great pantomime. They are wonderful villas. Theyre behind u

Blueandwhites · Mar 22, 2013

I dread to think if anything remotely successful happened to Coventry City FC, I don't think I'd be able to cope! Stockholm syndrome I think they call it? without Sisu I wouldn't have any sense of worth.. Please reassure me nothing positive is going to happen any time soon.

oakey · Mar 22, 2013

Just for clarity: why should SISU care about CCFC? Answer: because they own it. Although calling it a cash cow made me laugh.
Why should CCC care about CCFC? Answer: they should a bit but it is not their job to fund it.
Why should ACL care about CCFC? Answer: a lot because it is a major tenant BUT it has a legal duty to run it's own business not SISU's

THEREFORE: blaming both parties equally for the mess seems patently ridiculous. SISU are the owners and are solely responsible for the current situation. They knew what the rent and income streams etc were and have had over 5 years to sort it out.
Question for the SISUnistas: what would SISU have to do to lose your blind, support?
Genuine question. I think some of our fans will blame ACL and CCC whatever they or SISU do.

Flying Fokker · Mar 22, 2013

japandy said:
i love SISU. Its great pantomime. They are wonderful villas. Theyre behind u

How's joy Andy? Your friend must be a bit twitchy now

rob9872 · Mar 22, 2013

I think we all agree SISU (and the previous regimes) are to blame for the whole sorry mess. We also accept that ACL have made large concessions negotiating. However, I can only speak for me, but the acceleration of the admin process when the wheels can so easily fall off our positive season for a long long time was a vehicle driven only by ACL. Their timing is awful and for that I wil continue to blame them.

Flying Fokker · Mar 22, 2013

rob9872 said:
I think we all agree SISU (and the previous regimes) are to blame for the whole sorry mess. We also accept that ACL have made large concessions negotiating. However, I can only speak for me, but the acceleration of the admin process when the wheels can so easily fall off our positive season for a long long time was a vehicle driven only by ACL. Their timing is awful and for that I wil continue to blame them.

Are you feeling all right? This is not the same Rob who backed SISU two sun rises ago?

Steve.B50 · Mar 22, 2013

Rob9872
We all want to blame someone but I cannot understand what you mean by timing
.The club owners have not paid any rent for a year now, what sort of company can do that and get no comeback.
I can only blame SISU for the mess.

Ashdown1 · Mar 22, 2013

SISU will liquidate this club if they cannot sell it in the summer, once all the pipe dreams of promotion are laid to rest and the reality that fans will not follow them to Walsall, Nene Park, Hinckley and the reality of the cost of a new stadium etc. All this latest debacle is doing is showing the world that they won't be beaten................but all the while the lifeblood of the club is bleeding away into the dirt, they won't give a fuck though, they'll move on back to Mayfair and their next project of looking for another sick puppy !

Steve.B50 · Mar 22, 2013

Ashdown1
I fear that your so right.

rob9872 · Mar 22, 2013

Flying Fokker said:
Are you feeling all right? This is not the same Rob who backed SISU two sun rises ago?

Ive never backed them mate only in jest in response to some fairly outrageous hypocrisy, but I Di back their stance on this saga.

Flying Fokker · Mar 22, 2013

The only caveat Ashdown would be that SISU have to save face. They cannot be seen as the terminators. They should sell and put an'undisclosed' against the sale. Sounds familiar?

Flying Fokker · Mar 22, 2013

rob9872 said:
Ive never backed them mate only in jest in response to some fairly outrageous hypocrisy, but I Di back their stance on this saga.

Oh, that's ok then. Thought you were sickening for something!

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