For all of its assets and the golden share, what would any potential purchaser have to pay? (this would be without playing at the Ricoh or owning its own ground, purely the club as it stands now).
Its worth nothing. No assets. Plenty of debt.
Sound investors will avoid it. Hence SISU snapping it up.
Sound investors will avoid it. Hence SISU snapping it up.
Pint of Lager and a pack of crisp, add a Tikka Masala and it's yours!
I'd have a guess at £1mill?
I'd have a guess at £1mill?
So the debt plus golden share could be valued around £40m? apart from players what other assets do CCFC own? does CCFC still own Ryton?
Possibly - or like Dale said maybe a nominal amount but you have all the debt.
Don't think they own much - is Ryton mortgaged out?
£1, the club is worthless. The customer base has disappeared, the club is performing at it's lowest level in most peoples living memory with virtually no assets and huge debts.
If it was anything but a football club it wouldn't be in existence anymore. The key is what someone is prepared to pay SISU to discharge the debt and what SISU are prepared to accept.
If it was anything but a football club it wouldn't be in existence anymore. The key is what someone is prepared to pay SISU to discharge the debt and what SISU are prepared to accept.
Only as much as any businessman (or woman) is prepared to pay for it.
Just like any of us when buying a house or car or whatever, we don't pay the asking price but if we really want to buy we make an offer.
Start as low as you dare and increase gradually, same applies to the football club but unfortunately because of the history I think all individuals positions are far too entrenched and it's 'personal' and has been for far too long!
They need the council to do the valuation. They will value at whatever is owed (£40 million?) and then we need a double whammy from Higgs to end on too whatever sisu paid to get the club (£8 million?)
Bingo! Its £48 million on the Coventry council / Higgs scale of valuation.
Bingo! Its £48 million on the Coventry council / Higgs scale of valuation.
Lets have the Sisu version paid nothing invested £70 million
Bingo its £70 million on the Sisu scale of valuation or pick any number
I think the real debt is nothing like the paper debt and without the Ricoh I would guess £1 on a fag packet with the debt taken on.
Step forward Hoffman and co and get your deal with the council and ACL to lease the Ricoh at a fair price unbeknown to SISU.
Step forward Hoffman and co and get your deal with the council and ACL to lease the Ricoh at a fair price unbeknown to SISU.
I'm only going by what the lawyer said, I've not seen their books. It may be that that figure includes their purchase costs but I don't know as they didn't elaborate.
The club was worth nothing when sisu took over.
They took over the original debt left by the old regime.
All they have done is increase the debt, lost mass revenue streams through sponsorship, lost ticket sales through losing the fan base, lost merchandise sales. Best of all they have moved the club away from the city which it belongs.
Sisu have managed to become a class A student in how to completely ruin a football club.
Sisu never envisaged the fanbase staying away from sixfields in the numbers we have. Fisher completely cocked this up and I really do wonder how Seppala has taken this advice from him?
Sisu are at the lowest ebb now and how are they going to rectify this?
Their plan was to take a distressed asset and sell something worth nothing for something. That potential profit has vanished right now without the Ricoh, be it renting the stadium and crucially for them to get it for pretty much nothing.
They took over the original debt left by the old regime.
All they have done is increase the debt, lost mass revenue streams through sponsorship, lost ticket sales through losing the fan base, lost merchandise sales. Best of all they have moved the club away from the city which it belongs.
Sisu have managed to become a class A student in how to completely ruin a football club.
Sisu never envisaged the fanbase staying away from sixfields in the numbers we have. Fisher completely cocked this up and I really do wonder how Seppala has taken this advice from him?
Sisu are at the lowest ebb now and how are they going to rectify this?
Their plan was to take a distressed asset and sell something worth nothing for something. That potential profit has vanished right now without the Ricoh, be it renting the stadium and crucially for them to get it for pretty much nothing.
They will want their £8m back and then they will want payment on their £50m of interest. They might want 10p in the pound or 20p in the pound or as high as 50p in the pound. Only joy knows that answer.
Can you please back up the claim that £50 million interest has been charged to the original debt.
You're seriously suggesting that Sisu have invested £20m in a month?
