Sky Blue Pete
Well-Known Member
than when Sisu bought the club for £1
The club isn't worth more . they've asset stripped everything the club had ie shares , decent players , Ryton . there is very little left . hence why they're now listening to offers . I bet if there was a true audit done , sisu would be well in the black . then to get an offer off Hoffman too , should please their investors no end .than when Sisu bought the club for £1
The club isn't worth more . they've asset stripped everything the club had ie shares , decent players , Ryton . there is very little left . hence why they're now listening to offers . I bet if there was a true audit done , sisu would be well in the black . then to get an offer off Hoffman too , should please their investors no end .
Quite rightly??? Why are you bothered about how much Sisu get for the club? Very strangeSisu quite rightly rejected the 1st offer and very quickly a 2nd offer come in allegedly doubling the initial input, once the silly offers die down then we get to the nitty gritty and see if Sisu will 'cash in' we can all live in hope and wait and see
Not sure there has been a £10m bid I'm reality has there? Think the 10m you quote mostly relied on a return to the Premier league.
OSB is totally right, it seems they aren't looking to purchase everything. They want the assets and to leave the debt behind.
In that scenario its essentially one company selling assets to another so they are going to want, at the very least, the value of the assets. That will include the value of Ryton and an estimation on future transfer income. Add on the value of the CCFC identity and right to play in the league (although that can't technically be sold).
Would suspect it needs to be getting nearer to £5m, if not more, before it gets dismissed out of hand by SISU.
The other issue is that although we tend to think of everything related to SISU as one entity they aren't. If the football operation is all sold off can Otium just be wound up and the loans written off or are they guaranteed in some way. I would assume at the very least for Ryton to be sold it would need the charge removing which would require a payment.
If they got it for 1.5m ib 2013 theb we cant be too far away from right figure surely?
Me thinks they want losses back as much as possible. Probably holding out for 20-30m odd
That's fine but what value has it got?They can ask for whatever they want as owners.
That's really useful thank youCouple of points.
Firstly in 2008 Sisu bought the shares which in effect are all the assets the company owns less all liabilities the company has. There were millions more liabilities than assets so it is common to pay a pound or similar for rights to something worthless
As I understand the Hoffman consortium is buying the assets less the football liabilities only. Not the Sisu & ARVO loans Given the value of some of the players (e.g. Stevenson) and the with planning potential value of ryton then it is quite possible the net amount is considerably more than £1.
Like is not being compared with like. The company remains worthless but that is not what Hoffman is trying to buy
In any case the last time Sisu bought the club was not 2008 . The distressed assets less football liabilities were purchased when the club came out of administration and it cost them 1.5m in 2013
Again it depends what they want to buy, if the club but no debts it will cost more to buy than the club with debts.That's fine but what value has it got?
Yep I understand thatAgain it depends what they want to buy, if the club but no debts it will cost more to buy than the club with debts.
The £1 thing is just as misleading as the sisu have put in gazillions.
The debt would need to be addressed in one way or another, else they will just keep getting rejected.
Couple of points.
Firstly in 2008 Sisu bought the shares which in effect are all the assets the company owns less all liabilities the company has. There were millions more liabilities than assets so it is common to pay a pound or similar for rights to something worthless
As I understand the Hoffman consortium is buying the assets less the football liabilities only. Not the Sisu & ARVO loans Given the value of some of the players (e.g. Stevenson) and the with planning potential value of ryton then it is quite possible the net amount is considerably more than £1.
Like is not being compared with like. The company remains worthless but that is not what Hoffman is trying to buy
In any case the last time Sisu bought the club was not 2008 . The distressed assets less football liabilities were purchased when the club came out of administration and it cost them 1.5m in 2013
So no difference to what's happening now then? Except that is that they might actually get something in a few years timeSo you are suggesting Hoffman and crew buy only the assets? The debt ridden side of the 'business' can be legally just dismissed, no questions asked. Oh that's alright then. How much to settle your investors Joy? And can I give you the cash somewhere down the line from players sales and money from promotions and the like? can't give you a definitive answer when that will be, you're just have to trust we will invest and make the club a success at some point. Is that alright with you?
Seriously?
So no difference to what's happening now then? Except that is that they might actually get something in a few years time
In control of a downward spiral? Whereas the potential for the club to go forward, with no investment from them with a potential for a return?The difference is that they are currently in control of that destiny.
To be fair, the first offer was ridiculous. The second offer looked a little better. Hopefully they can get to a position that is acceptable to both but I highly doubt it, particularly as there is much bad blood between the parties involved.
In control of a downward spiral? Whereas the potential for the club to go forward, with no investment from them with a potential for a return?
Very clear explanation. Thanks
I suspect that the owners may have realised that it may now be the least worst time to cut their losses
But if that's the case then there are other parties who would surely offer a better deal than the current consortium
And without all the strings
OSB, is there a simple spreadsheet showing the amounts of shares, loans cash debt & cash for each CCFC company. I can digest it better if i see numbers etc.
So you are suggesting Hoffman and crew buy only the assets? The debt ridden side of the 'business' can be legally just dismissed, no questions asked. Oh that's alright then. How much to settle your investors Joy? And can I give you the cash somewhere down the line from players sales and money from promotions and the like? can't give you a definitive answer when that will be, you're just have to trust we will invest and make the club a success at some point. Is that alright with you?
Seriously?
Structures are here
Sky Blue Trust - CCFC Company and Group Structures
Otium which trades as CCFC owe ARVO 12.4 in loans and interest. In addition to the ownership ordinary voting shares there are preference shares issued in Otium totalling 65m which are owned by ARVO 15m and SBS& L 50m (in round figures) - these shares are in reality clever accounting and worthless
SBS&L owes its investors 28m. (Otium does not owe SBS&L £28m which is a problem for SISU)
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