Let me start a rumor (make that two rumors) (1 Viewer)

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G

Godiva

Well-Known Member
I haven't seen it reported anywhere - maybe because I haven't searched for it - but apparantly we are on the brink of signing an argentinian attacking midfielder. His initials are GB and I have this from a friend of him, who only last night spoke to him on the phone. Gerado ... oh, damn I gave away his first name ... is apparantly very keen on the move. He is currently a free agent.

Can we sign free agents when in administration? If not - I hope we get out soon!

He will be on 5K/week and given FFP this look impossible.

Which leads to the second rumor - which is genuinely made up by myself.

I suspect sisu will convert some loans to equity - because under FFP equity increase counts as income.
I don't know the amount of the current loans Otium have, but I am sure they will transfer some or all of Holdings loans to Otium, so there should be a pool to convert from.
 
Sky Blues

Sky Blues

Active Member
Much as I don't want to put a dampener on the best, nay, only fun transfer rumour we've had on here this summer, I do have to say the word "embargo". :(

Now, Godiva, have you been looking for these? ;)

taking-pills.jpg
 
TheHellion

TheHellion

New Member
I'm not entirely sure, but Pompey were allowed to sign players on month by month deals during admin weren't they?

But then we've got a double whammy. Even if we left admin, we'd still be under an embargo for not submitting the accounts wouldn't we?
 
chiefdave

chiefdave

Well-Known Member
Pompey fell below the minimum squad size as they refused to even put their kids on the bench, we've going to have a problem if we're trying to use that rule as the league will count the 'bomb squad' as eligible senior players.
 
Nonleagueherewecome

Nonleagueherewecome

Well-Known Member
You can't sign free agents whilst under embargo.
 
ccfcway

ccfcway

Well-Known Member
Noggin said:
no and it doesn't look to me like we are going to be out of embargo in time to sign anyone.
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dunno what you mean, as Fisher says, as soon as we get out of administration..

nowt to do with them not filing accounts
 
Nonleagueherewecome

Nonleagueherewecome

Well-Known Member
Given history, I'm not sure that one of our "bangs" being an Argie is really appropriate...
 
G

Godiva

Well-Known Member
Sky Blues said:
Much as I don't want to put a dampener on the best, nay, only fun transfer rumour we've had on here this summer, I do have to say the word "embargo". :(

Now, Godiva, have you been looking for these? ;)

View attachment 2224
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I am sorry - I should have put in 'Can we sign free agents when in administration? If not - I hope we get out soon!' ...
Oh, I did!

But Holdings have most of the player contracts ... are they not allowed to sign another?
 
Nonleagueherewecome

Nonleagueherewecome

Well-Known Member
Godiva said:
I am sorry - I should have put in 'Can we sign free agents when in administration? If not - I hope we get out soon!' ...
Oh, I did!

But Holdings have most of the player contracts ... are they not allowed to sign another?
Click to expand...

Questions often illicit answers. Such is the scenario above.
 
TheHellion

TheHellion

New Member
chiefdave

chiefdave

Well-Known Member
Godiva said:
I am sorry - I should have put in 'Can we sign free agents when in administration? If not - I hope we get out soon!' ...
Oh, I did!

But Holdings have most of the player contracts ... are they not allowed to sign another?
Click to expand...

Good point, SISU are claiming holdings is the club so what's stopping them making all these signings they supposedly have lined up?
 
Sky Blues

Sky Blues

Active Member
Godiva said:
I am sorry - I should have put in 'Can we sign free agents when in administration? If not - I hope we get out soon!' ...
Oh, I did!

But Holdings have most of the player contracts ... are they not allowed to sign another?
Click to expand...

I was trying to jest, to be light-hearted. Sorry it failed. Holdings have not filed their accounts either so logically the embargo should apply regardless of whether it is Limited or Holdings that owns the players.
 
G

Godiva

Well-Known Member
Sky Blues said:
I was trying to jest, to be light-hearted. Sorry it failed. Holdings have not filed their accounts either so logically the embargo should apply regardless of whether it is Limited or Holdings that owns the players.
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I missed the jesting ... sorry! No excuse from me. I simply missed it.

Yes - Holdings haven't filed accounts, but that could change. But as they seem to be transfering everything to Otium ... which haven't filed accounts either ... I guess they will be waiting until they know how ACL will vote on the CVA.
 
Sky Blues

Sky Blues

Active Member
Godiva said:
I missed the jesting ... sorry! No excuse from me. I simply missed it.

Yes - Holdings haven't filed accounts, but that could change. But as they seem to be transfering everything to Otium ... which haven't filed accounts either ... I guess they will be waiting until they know how ACL will vote on the CVA.
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I'll add extra ;););) next time! :D
 
G

Godiva

Well-Known Member
duffer

duffer

Well-Known Member
Lord what a mess. I think the embargo is under the control of the FL, a bit like the GS. In essence it doesn't matter if CCFC Holdings has signed off accounts or not, the FL won't let us sign players at the moment.

(Unless SISU pull another fast one... well yeah, I know it's in your rules... but please.... we'll be good, honest. Which is how I presume they got the groundshare through.) ;)
 
skybluedan87

skybluedan87

Member
I don't care if it's BS it's so refreshing to talk football/er instead of all the other initials Sisu Acl Gs Fl etc. I've heard he'll be training with us until we file accounts! Can you take players on trail under embargo.?
 
W

wingy

Well-Known Member
Might be a suggestion to them worth making that there are going to be an awful lot of Egyption players available free or to loan as their leagues have been suspended again.
 
TheRoyalScam

TheRoyalScam

Well-Known Member
skybluedan87 said:
I don't care if it's BS it's so refreshing to talk football/er instead of all the other initials Sisu Acl Gs Fl etc. I've heard he'll be training with us until we file accounts! Can you take players on trail under embargo.?
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Yes you can use triallists in pre-season friendlies even if you're under a transfer embargo. However you can't sign anyone, even free agents.

It looks as if we won't be out of administration until well into the season - even if ACL agree to the CVA (which looks unlikely) there is a 28-day 'cooling off' period before the FL could consider lifting the embargo.

As well as coming out of administration, SISU need to file company accounts - this should have been done by February 28th. The CCFC (Holdings) accounts will be the crucial ones because they must show when and why the 108 players/staff contracts were transferred from CCFC Ltd to CCFC (Holdings).

(Of course I'm not suggesting that any asset stripping has occurred during SISU's tenure at all - because that would be illegal.)

Bearing in mind all of the above, I fail to understand why any decent free agent would even consider CCFC as things stand.
 
Sky Blues

Sky Blues

Active Member
TheRoyalScam said:
Yes you can use triallists in pre-season friendlies even if you're under a transfer embargo. However you can't sign anyone, even free agents.

It looks as if we won't be out of administration until well into the season - even if ACL agree to the CVA (which looks unlikely) there is a 28-day 'cooling off' period before the FL could consider lifting the embargo.

As well as coming out of administration, SISU need to file company accounts - this should have been done by February 28th. The CCFC (Holdings) accounts will be the crucial ones because they must show when and why the 108 players/staff contracts were transferred from CCFC Ltd to CCFC (Holdings).

(Of course I'm not suggesting that any asset stripping has occurred during SISU's tenure at all - because that would be illegal.)

Bearing in mind all of the above, I fail to understand why any decent free agent would even consider CCFC as things stand.
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Does a company which has not filed accounts have to file accounts as part of the process of exiting administration?
 
G

Godiva

Well-Known Member
But if they plan to collect all football related activities under Otium then that would be required for FL to issue Otium the golden share ... it should not go to limited ... so the key question is when could that happen?
What steps are required for Otium to apply for the Golden Share?
Will it have to await the CVA? Probably yes, but will they have to wait the entire cooling off period?

I would think Otiums accounts are ready to be signed and filed as soon as the Golden Share is granted.

Limited and Holdings are most likely both being liquidated as soon as Otium is declared 'the club'.
 
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chiefdave

chiefdave

Well-Known Member
Godiva said:
But if they plan to collect all football related activities under Otium then that would require FL issue grant Otium the golden share ... not limited, so the key question is when could that happen?
What steps are required for Otium to apply for the Golden Share?
Will it have to await the CVA? Probably yes, but will they have to wait the entire cooling off period?

I would think Otiums accounts are ready to be signed and filed as soon as the Golden Share is granted.

Limited and Holdings are most likely both being liquidated as soon as Otium is declared 'the club'.
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Going to be interesting to see how this plays out. My understanding is that usually a new holding company would be formed by the new owners which would then take ownership of the existing Ltd company so the FL would be issuing the GS to that same Ltd company. SISU seem to be wanting to leave Ltd behind and make holdings the club with Otium as the holding company. Think we'll find out if and when ACL refuse the CVA. What the FL rules then is anyones guess.
 
TheRoyalScam

TheRoyalScam

Well-Known Member
Sky Blues said:
Does a company which has not filed accounts have to file accounts as part of the process of exiting administration?
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Sorry for the late reply - I was composing another post.
To answer your question: I'm not sure, but I'm sure somebody else (OSB58?) might be able to clarify this.
My point was that they would need to file accounts to come out of the transfer embargo.
 
G

Godiva

Well-Known Member
chiefdave said:
Going to be interesting to see how this plays out. My understanding is that usually a new holding company would be formed by the new owners which would then take ownership of the existing Ltd company so the FL would be issuing the GS to that same Ltd company. SISU seem to be wanting to leave Ltd behind and make holdings the club with Otium as the holding company. Think we'll find out if and when ACL refuse the CVA. What the FL rules then is anyones guess.
Click to expand...

Didn't I read somewhere that staff was being transferred to Otium ... or did I dream that?
 
G

Godiva

Well-Known Member
Sky Blues said:
But if - and we now know this is a big if - the Football League were to follow their own rules, wouldn't Otium's accounts have to be signed off before they are granted the Golden Share?
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It may be true.
I am sure the FL is following their own rules, but it's all quite confusing isn't it? Companies laws. Insolvency laws. And the Football leagues own rules, regulation and guidelines (I am not sure you can classify their regulations as laws).
 
Sky Blues

Sky Blues

Active Member
Godiva said:
It may be true.
I am sure the FL is following their own rules, but it's all quite confusing isn't it? Companies laws. Insolvency laws. And the Football leagues own rules, regulation and guidelines (I am not sure you can classify their regulations as laws).
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Yes, and add in various interpretations of different rules and other issues (like would will still be under embargo if we are in administration but filed accounts or out of administration but not filed accounts) and the whole situation is as clear as the muddiest mud. I think that is why our fans are so divided on this whole mess. About the only point of agreement for almost everyone is that Coventry City should be playing in Coventry.
 
B

Brighton Sky Blue

Well-Known Member
Whilst converting debt to equity might help FFP Godiva unless it actually gives the club any more income then what point does it serve?
 
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