Nick
Administrator
A meeting to express sympathy with them like the council? Will be pleasantly surprised and happy to be wrong if there's anything more aimed at wasps from the Trust.
Is this whole thing a Haskell Mk2? (3 Viewers)
- Thread starter Nick
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A meeting to express sympathy with them like the council? Will be pleasantly surprised and happy to be wrong if there's anything more aimed at wasps from the Trust.
SkyBlueCRJ
Well-Known Member
It's actually a very worrying proposition that in theory CCFC going out of business could work far more in their favour with regards to their court case obsession. Especially when we all know full well how ruthless they can be.
Liquid Gold
Well-Known Member
And why the efforts of fan groups should go beyond "fuck off timmy"
Nick
Administrator
It's also worrying that some of our fans would see that as a positive because "SISU would be gone".
SkyBlueCRJ
Well-Known Member
Really does baffle me how 'fans' think that pressing the reset button will magically make everything better.
Captain Dart
Well-Known Member
The Albany one? There doesn't seem to be a minute of that online, only a press release which doesn't mention accounts.
Colin Steins Smile
Well-Known Member
I think we are all in danger of seeing conspiracies in every corner. There’s no criticism of the potential scenario being painted here, but I doubt there is anything in it. . I just think Wasps are emboldened by the windfall cash they’re receiving & are pissed off with our owners. So think they are okay in the short term without CCFC
SkyBlueDom26
Well-Known Member
Such a shame about Haskell not taking over the club. Seemed he was really into investing and making us great again
What could of been ey!
What could of been ey!
chiefdave
Well-Known Member
Shame he had no money!
Captain Dart
Well-Known Member
My gut feeling is that the CCFC accounts will be delayed until after the Supreme court rule whether an appeal can be heard.
If it can't expect a 1 year deal to be signed with Wasps.
Thereafter who knows.
vow
Well-Known Member
Fook me, why is @christonabike on the left in that pic!!Which is great if a new owner comes in and it all pays off.
Londonccfcfan
Well-Known Member
Don't see them going anywhere, The potential windfall of £5M plus from sale of Wilson will see them through the end summer transfer Window.
HuckerbyDublinWhelan
Well-Known Member
Talking of the reset button... from what we know of Joy, do you think she’d sell the name, badge rights and effectively the clubs soul back to the fans?
I some how doubt it based on how vindictive she is. She’d keep all them locked up in a vault so nobody else makes a success
I some how doubt it based on how vindictive she is. She’d keep all them locked up in a vault so nobody else makes a success
chiefdave
Well-Known Member
If someone will pay up for it, doubt she'd just hand it over.
olderskyblue
Well-Known Member
Don't we always have this clamour when the accounts are due/overdue ?
But decisions will have had to have be made by then and who says Wilson will move on, I thought he would move in this window which I call the panic window, the summer one is different not so much rush and panic.
NorthernWisdom
Well-Known Member
I guess in the past we had a ground.
Admittedly CCFC accounts being overdue is a bit of a tradition.
letsallsingtogether
Well-Known Member
I didn't say it was the trust looking at it.
Can't say anymore as I am not the one organising it, I will post on here when I hear what's going on so that you can all come along and take part.
oldskyblue58
CCFC Finance Director
Actually it was they other way around. I raised it before Xmas. But no one picked up on it. Including the trust
letsallsingtogether
Well-Known Member
Yes they brought back the club history from the administrator.
Don't think you can buy the original name though.( what I have been told)
The badge could be changed slightly so as not the same I would have thought.
letsallsingtogether
Well-Known Member
So your to blame then
Liquid Gold
Well-Known Member
Fair enough if that's the case, I stand corrected on the origin. The point still stands though that there wasn't a peep about it until the Trust meeting and since then it's been everywhere. Still looks suspicious.
oldskyblue58
CCFC Finance Director
What could be just as worrying is that the tax relief on the losses of "loans" say 45m in the two companies and the preference shares of 63m which could be worth more to them than selling on. All depends on what's available and how things are set up of course.
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oldskyblue58
CCFC Finance Director
Question. What exactly was the mechanism by which Haskell and co were going to force regime change? Ccfc has always been on the basis of a private limited company which means all the owner has to say and has said is no.
They couldn't force insolvency and the last administration served a particular purpose which benefited only one party at the time. Sisu were in control of the lead up and the administration
The current situation could force a change but it could just as well force liquidation if my previous post holds true. That's high risk
Everyone wants new owners if it benefits ccfc
They couldn't force insolvency and the last administration served a particular purpose which benefited only one party at the time. Sisu were in control of the lead up and the administration
The current situation could force a change but it could just as well force liquidation if my previous post holds true. That's high risk
Everyone wants new owners if it benefits ccfc
Nick
Administrator
It was what it was pushed as at the time. ACL were trying to force a change of owner, the woman from ACL had shown Haskell around.
ACL seemed to think that was the plan, so do some of our fans.
UNITED States property tycoon Preston Haskell IV has emerged as the man waiting in the wings to swoop for Coventry City should the club be placed in administration on Friday.
The Coventry Telegraph can confirm that the American, who has a fortune estimated at $250million (£157m), is being lined up by Ricoh Arena owners ACL to take over the football club.
This could force out Mayfair-based hedge fund owner Sisu, which has ploughed more than £40m into the club and had hoped to acquire a stake in the Ricoh.
Potential American investors have been to the Ricoh Arena on two occasions, one being last week’s Colchester game, and understood to have been given a tour by ACL interim chief executive Jacky Isaac.
However, although ACL have seized the initiative to force a change of ownership, Sisu could turn the tables as the apparent end game plays out.
There are three possible scenarios, the first being that Sisu themselves could put Coventry City Ltd into administration to make sure they get their own administrator who might be deemed more sympathetic to their situation, but they would have to do it before 9.59 on Friday morning.
A second scenario could see Sisu ask for an adjournment on Friday to give them more time to contest it.
The third scenario is that the judge looks at the case and comes to the conclusion that the football club is insolvent and can’t pay its debts and puts the club into administration with immediate effect.
Reading that back, it very much does look like forced takeover attempt doesn't it?
NorthernWisdom
Well-Known Member
Last time around it's fair to say a number of parties were remarkably... naive.
You'd like to think those parties who are still around would have learned their lesson. Some? Yep, maybe they have. A couple I can think probably won't have...
But tbh I don't see the same flickering this time around. I see frustration, I see a desire to put an end to certain issues... but I don't see the same optimism of finding somebody to take it on. If that's learning their lesson then, well, that's all well and good.
oldskyblue58
CCFC Finance Director
I know what was said by the CT... never a reliable source..... but the facts are the only entity that could control administration was sisu. So the bottom line is there might have been a desire to achieve it, there might have been plenty of empty talk.... but it wasn't going to happen unless sisu wanted it to ..... and having set things up to break the lease and distress ACL it just wasn't going to happen.
Waiting in the wings to pick up the pieces is hardly forcing a change. Makes good news print but what was the mechanism for ACL or haskwll to force that change? I think the parties miscalculated and failed to see they were never in control of what was going on
Btw just to be clear I actually think the sisu plan was very clever and very nearly worked.
Waiting in the wings to pick up the pieces is hardly forcing a change. Makes good news print but what was the mechanism for ACL or haskwll to force that change? I think the parties miscalculated and failed to see they were never in control of what was going on
Btw just to be clear I actually think the sisu plan was very clever and very nearly worked.
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Nick
Administrator
So ACL werent showing people round and they didn't have Haskell lined up?
Maybe they were just incorrect in thinking it would work that easily or didn't expect sisu to have done the whole golden share trick.
It's definitely how it was put across at the time.
skybluealan
Well-Known Member
Darlington had to change their name but after 3 years applied to the league and got their original name back
oldskyblue58
CCFC Finance Director
You have to stand back and look at it. Should be and is easier in hindsight. It also helped sisu to portray as under threat but my memory of it is that regime change first came in comments from Fisher. It was never going to happen and sisu had already ensured that by planning the insolvency to break the lease and protecting their position with massive losses plus the mysterious error as to which company owned what.
Or are we saying that sisu are doing the same trick again.... because that's deeply worrying. Put otium in to administration now and arvo as the biggest creditor control the process ... ie sisu do. But why pay out for an administrator ? They are costly, sisu are in control of ccfc already so to what purpose ?
Nick
Administrator
Regime change was discussed at the time before administration happened. That was the whole point of Haskell. ACL were showing him round the stadium.
Did acl know that sisu had already planned for it or is that said in hindsight after it hadn't worked?
My point is exactly that, if the plan is along the same lines with wasps. Who knows what tricks they have up their sleeve? That's the worry.
oldskyblue58
CCFC Finance Director
But the point is it doesn't matter what ACL were saying or showing around. It doesn't matter what they thought or encouraged. The one party that mattered knew there was no possibility of it happening and had been working on their plan for well over a year.
Typical sisu don't look here look there. Acl, Haskell the trust ccc just made themselves look naiive
Typical sisu don't look here look there. Acl, Haskell the trust ccc just made themselves look naiive
Nick
Administrator
Thats my point, in hindsight sisu had already out thought ACL. ACL seemed to think they could force a change.
The worry is what plans do they have now if wasps and others try to do the same? Ccfc won't be their priority.
Did anybody expect them to have done that at the time? This time people are putting the eggs in the wasps basket. The same as they were in the ACL one.
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Or are we saying that sisu are doing the same trick again.... because that's deeply worrying. Put otium in to administration now and arvo as the biggest creditor control the process ... ie sisu do. But why pay out for an administrator ? They are costly, sisu are in control of ccfc already so to what purpose ?[/QUOTE]
If that was to happen and Arvo took over that way would they be seen as new owners and therefore have to pass the FAs “fit and proper” test ?
If that was to happen and Arvo took over that way would they be seen as new owners and therefore have to pass the FAs “fit and proper” test ?
