There can bbe no mortgage on Ryton as Arvo hold a charge over it ,pretty revealing as to intent ,as has been used to raise income to cover expenditure in previous seasons.
There can bbe no mortgage on Ryton as Arvo hold a charge over it ,pretty revealing as to intent ,as has been used to raise income to cover expenditure in previous seasons.
I'll be getting there early hoping for a front row seat....get a good look at all these clowns who understand nothing about the passion of a football club!!!
I'd love to see SISU out...but not at the cost of 10 points. Let's get promoted if poss then see what the lie of the land is! I'm expecting a C result.
If tomorrow goes SISU's way, and they can somehow manage to satisfy the judge that the holding company has sufficient funds to guarantee solvency for CCFC Ltd, then (a) ACL's point about taking this action in order to safeguard against SISU putting the club into liquidation, rather than administration, flies out of the window and leaves the way clear for SISU to liquidate - if they so choose, and (b) ACL gets stuck with the legal costs for both sides for bringing the action.
If tomorrow goes SISU's way, and they can somehow manage to satisfy the judge that the holding company has sufficient funds to guarantee solvency for CCFC Ltd, then (a) ACL's point about taking this action in order to safeguard against SISU putting the club into liquidation, rather than administration, flies out of the window and leaves the way clear for SISU to liquidate - if they so choose, and (b) ACL gets stuck with the legal costs for both sides for bringing the action.
Bearing in mind that TF recently said the club might go into liquidation if the rent row is not solved (ACL agree to all ccfc terms), then I won't be too surprised if sisu appoint their own administrator before 10am tomorrow.
It's the only thing sisu can do to make sure they stay in control of events.
To let ACL take over will be capitulation.
To fight for an ajournment is a bit of a gamble.
I will be extremely surprised if sisu pay up £1.3m as that would not ensure the club can leave the Ricoh in 3 years.
So - my guess is sisu appoint their own administrator (good bye promotion).
But whatever happens the result of tomorrow will give us all a much greater understanding of sisu's intentions and determination.
Bearing in mind that TF recently said the club might go into liquidation if the rent row is not solved (ACL agree to all ccfc terms), then I won't be too surprised if sisu appoint their own administrator before 10am tomorrow.
It's the only thing sisu can do to make sure they stay in control of events.
To let ACL take over will be capitulation.
To fight for an ajournment is a bit of a gamble.
I will be extremely surprised if sisu pay up £1.3m as that would not ensure the club can leave the Ricoh in 3 years.
So - my guess is sisu appoint their own administrator (good bye promotion).
But whatever happens the result of tomorrow will give us all a much greater understanding of sisu's intentions and determination.
Ok, so now we know what sisu will do.
But does it show their intentions?
Maybe - if(!) sisu can stay in control, this is what I guess their strategy is:
Over the next few months they will learn if ACL really have a potential buyer lined up and if this buyer is prepared to pay what is necessary for sisu to walk away.
If a bid is made that satisfy sisu, then we have a new owner.
If no bid is made or the bid is too low, then sisu will buy back the club. This time it may actually be sisu themself who put in the money.
At that point the club will most likely have written of most of the debts and a can make relatively fresh start.
First thing is finding out where to play.
Remember that the current lease will be torn up and sisu will either repeat their demands: Lower rent, F/B revenue access plus a three year release clause - or more likely insist the club takes over ACL and their cheap council loan.
As there is no contract in work it will be sisu who say take it or leave it.
And as TF has done his homework, we may play the remaining games this season at Hinckley or another place he was scouting around christmas.
Next season will be either at the Ricoh or groundsharing with Birmingham or somewhere else.
And the club will either stay at (and own) the Ricoh or start planning a new stadium.