Isn't our debt actually only £1.3m? (1 Viewer)

Skyblueweeman · Mar 26, 2013

I've seen a number of posts tonight about £60m in debt. I've not looked into things as much as others on here in terms of figures so I might have missed something but I've been thinking. How can we be in debt to the tune of £60m.

Who do we owe money to? Obviously we've not paid rent which is approx £1.3m. That's debt.

If the £60m is what people think is owed to SISU, aren't they our owners? Isn't that investment? They gambled and lost (for whatever reasons). Hasn't Ambromovic ploughed £1bn into Chelsea (included real estate developments around the Bridge)? This doesn't mean they're up to £1bn in debt.

I might be naive on this, but I think our debt is £1.3m approx. Happy for the number crunchers to enlighten me if I'm wrong or missed something.

WM

coundonskyblue · Mar 26, 2013

Also, surely the Sisu money is in CCFCH, not CCFC Ltd. As the only creditor if CCFC Ltd is ACL, does that not mean they can now make it difficult for Sisu to get their hands on the league share?

Skyblueweeman · Mar 26, 2013

coundonskyblue said:
Also, surely the Sisu money is in CCFCH, not CCFC Ltd. As the only creditor if CCFC Ltd is ACL, does that not mean they can now make it difficult for Sisu to get their hands on the league share?

That's just confused the shit out of me!

WM

ampthill_sba · Mar 26, 2013

I think SISU have 'invested' money in CCFC by loans from their other companies. It therefore appears as debt on the CCFC balance sheet. In reality they won't get much of it back...

Expect Sepalla to file for bankruptcy!

Tad · Mar 26, 2013

ampthill_sba said:
I think SISU have 'invested' money in CCFC by loans from their other companies. It therefore appears as debt on the CCFC balance sheet. In reality they won't get much of it back...

Expect Sepalla to file for bankruptcy!

So the club owes 60 million?

I've lost track of what's going on a bit today..

warwickcccfc · Mar 26, 2013

Not debt free, eh, Mr Ranson?

debts from 2007 coming back to haunt us, just dressed up differently, as predicted by some when SISU arrived.

Ranson said SISU had a 4 year plan and it failed...that's a hedge fund for you....now we face the consequences.

Skyblueweeman · Mar 26, 2013

To me, debt is money we owe to 3rd parties not connected to the club. Such as a landlord. We owe our landlord £1.3m. That's a debt.

Please show me the other £58.7m that's 'dressed up differently' or at least give me your thoughts on who is owed what.

Genuine question...

WM

oakey · Mar 26, 2013

Firstly,let me say I have little working knowledge of the world of Hugh finance but I can smell bullshit a mile off. As I said the other day, this is creative accounting: management fees, arranging money transfers, paying interest to those who invest in creative ways such as shares, debentures .... Basically the crooked world of high finance invents a web of jargon words to confuse the layman and hide their skulduggery. SISU clients are high risk investors who gambled and lost. Tough. They will try to claw back what they can but the sooner we see the back of these (alleged) crooks and start again, the better.

Wrightdog · Mar 26, 2013

Skyblueweeman said:
To me, debt is money we owe to 3rd parties not connected to the club. Such as a landlord. We owe our landlord £1.3m. That's a debt.

Please show me the other £58.7m that's 'dressed up differently' or at least give me your thoughts on who is owed what.

Genuine question...

WM

To me and at a guess, the money owed is to outside investors who have given the money to CCFC Holdings Ltd, not SISU and SISU if you like are just the share brokers. The investors have invested in CCFC Holdings Ltd and therefore it's the investors who we don't know are the bigger creditors through SISU. If these investors or investor decides to stop propping up the club which seems to be near or at that point, then a sale or administration to claw back any money would seem the likely outcome. A guess as I said.

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