Please stop posting your opinions as fact.
I respect your right to an opinion, but you are posting things that you can't possibly know as fact.
Nearly 7 Billion people in this world, you can't possibly know all their intentions!
Illegal? For someone who bleated on earlier about 'absolute proof' that is quite a bold statement.
Institutions that without which our club would have ceased to exist? What are you on? The only reason the club are here is because this hedge fund you so despise saw fit to protect their investment by continuing to pump money into the club to keep it afloat.
Tbf there was hardly a queue last time since when our position has deteriorated and other teams have suffered. The evidence suggests that until proved otherwise I'm more inclined to believe the position that the alternatives arevat the very least, limited.
Not completely true is it??Illegal? For someone who bleated on earlier about 'absolute proof' that is quite a bold statement.
Institutions that without which our club would have ceased to exist? What are you on? The only reason the club are here is because this hedge fund you so despise saw fit to protect their investment by continuing to pump money into the club to keep it afloat.
Take their pants down how? By paying them above market rates? At 150K per year net that still represented a good deal to ACL.
Like I said in another thread, Doncaster council gave their local football club their stadium. Ours get insulted by a rent offer of 400K and try to then force the club out of business. And people think this is good?
Just what do you expect ACL to do then?
The Council and Higgs trust saved the club in 2003, have you forgot that already?
Not completely true is it??
No they didn't. They saved the stadium project.
Had they not done that, the club would have have simply continued to pay the housing company rent to play at Highfield Road, considerably less than what we paid in subsequent years to ACL.
The developer would have sat on their investment until such time that the club was in a position to buy back Highfield Road or finance a move itself, which may have been post administration but we will never know. They would not have sought to evict the club because the adverse publicity would have been colossal and their housing development blighted by legal challenges and negative national coverage.
There was a lot of scaremongering at the time about there being no alternative, but the truth was there were a lot of vested interests and there was a belief that the new stadium was in the best long term interests of the club, and so the people in charge did a deal with the devil to make it happen.
Not had time to read the posts but a sensible move by acl and one I expected and would advise. This is the way I was thinking it would play out although an administration order by an unsecured creditor is very unusual. Sisu (or the associated company who hold a debenture) will have an opportunity to put forward their own administrator, however, the fact is this will protect the club.
It's not what anyone would want to see but brings matters to a head. Sisu will have to prove funding or clubs goes into administration at which point the club/assets will be sold to the highest offeror. Just hope someone's out there but no reason why not, especially with acl indicating a reduced rent is on offer.
Sisu have played hard ball, acl have called their bluff
When the council voted in 2003 on whether to go ahead with the project without CCFC, the clubs future hung in the balance.
Had the council voted against the project, the club would have been hit with a winding up order the very next day.
Ah well they took millions off us to pay for the stadium and have done it anyway.
Proud day eh?
The only people ACL are looking after is themselves, they read the Guardian article and crapped themselves that CCFC were going to liquidate CCFC Limited to wipe out the rental agreement on the RICOH and the debts owed to ACL and leave the Ricoh without a contracted tenant. With CCFC Holdings then being the main company.
PUSB
i'm pretty sure they did a bit more than read the guardian article
ACL said it would be a net rent of £150k a year, but that included the rates rebate the club are due. As they have been overcharged since they moved into the gound and this is being paid back at £150k, I am not sure if this rebate is over 1 year or longer.
The £1.3 million that ACL say they are owed does not include the £568k they had out of the CCFC escrow account or i believe over £300k that has been paid to cover match costs. (i am trying to remember figures from what i have read, so might not be exact)
The only people ACL are looking after is themselves, they read the Guardian article and crapped themselves that CCFC were going to liquidate CCFC Limited to wipe out the rental agreement on the RICOH and the debts owed to ACL and leave the Ricoh without a contracted tenant. With CCFC Holdings then being the main company.
To be honest this is the first season when i thought Sisu were actually running the club properly with Waggot and Fisher pulling the strings after the previous muppets that we had to put up with, twice now i think they chose the right manager and brought in a good selection of players. Who at the start of the season thought we would have 2 of the highest scorers in the league in McGoldrick and Clarke. Just a pity that they were not here at the same time.
I hear people on here and twitter saying ACL are the largest debter so can choose who the administrator is, but isn't it ARVO or whatever there called. So at the end of all this we could end up with SISU still pulling the strings under one name or another.
One thing i know next time is i will make sure that i do not vote in next year any councillors involved in destroying my football team. They chose SISU and refused to deal with Manhattan partners who were ran by a cov fan, i have watched CCFC being run into the ground for the last 25 years with some inept managers and directors and for the first time in ten years bought a season ticket this year as was impressed in Mark Robins and what the club were trying to do.
Sisu screwed up a lot in the running of this club, but for the first time i actually thought things were going in the right direction and after Sc-unithorpe last weekend had already got my tickets for Portsmouth and Walsall.
PUSB
If the creditors, of a failing business , are culpable in the decisions of that insolvent business, can they still appoint an administrator, or could other creditors legally challenge this!
I have something at the back of my mind, that Portsmouth's owners tried something similar, but were over-ruled in their choice of administrator.......it may have been for impartiality reasons......just a question, it might mean Arvo cannot appoint their own puppet?
When the council voted in 2003 on whether to go ahead with the project without CCFC, the clubs future hung in the balance.
Had the council voted against the project, the club would have been hit with a winding up order the very next day.
Obviously some of you are happy to be made a laughing stock by the owners of our club who lurch from one crisis to another. Annual Embargos.
Sorry thats not for me Im willing to take my chances with new owners and pray for boring stability !!!
your right the council should not use tax payers money to help the club just like the Tosser Mutton should keep his gob shutboth as bad as each other.
council not doing much to help the club
and sisu playing hard ball
always going to end in tears.
Obviously some of you are happy to be made a laughing stock by the owners of our club who lurch from one crisis to another. Annual Embargos.
Sorry thats not for me Im willing to take my chances with new owners and pray for boring stability !!!
Love it how everybody guesses what is going on without knowing all the information.
Little drops of information from both parties are treated as gospel depending what side you are on.
Simple fact is we have a fantastic facility here. It's all held together by the football stadium.
For my two penny worth. ACL would make more money with a successful football club in the stadium even paying nominal rent. ACL need to give in. However SISU should not gain from this with all benefits tied into CCFC. SISU need to put there cards on the table in response to this. Do they want the stadium and if they do then again tie it into CCFC.
Did you say that 5 years ago?
Illegal? For someone who bleated on earlier about 'absolute proof' that is quite a bold statement.
Institutions that without which our club would have ceased to exist? What are you on? The only reason the club are here is because this hedge fund you so despise saw fit to protect their investment by continuing to pump money into the club to keep it afloat.
I don't believe that. Nothing changed that day in terms of the club finances, and we muddled on for the two seasons that followed with no imminent risk of going under at any point during that time. No money changed hands, it was merely a commitment to construct a new venue for the club to play in.
Had the vote gone the other way, it may have led to a loss of confidence I admit, and the likes of Robinson might have pulled the plug, but then like now, we didn't really have external creditors banging on the door.
There was a lot of scaremongering, and I bought into it completely. Looking back you realise that so many people had invested so much in that stadium project they just wanted it to go ahead somehow.
All history anyway.
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