Ownership (1 Viewer)

oldskyblue58 · Dec 5, 2011

I dont claim any credit for spotting this - was good work by crowsnest :claping hands:

We are told that Otium now own CCFC and that SBS&L own Otium (but this is not absolutely certain because I have seen no proof)

But who owns SBS&L ? Shares issued 13698

it was
SISU Capital private fund A - 5143 shares
SISU Capital private fund B - 5554 shares
SISU Capital private fund C - 340 shares
SISU Capital private fund D - 111 shares
SISU Capital private fund E - 347 shares
Arley Group PC (RR's company) - 2203 shares

it is now
Sconset Capital LP - 13150 shares
Leonard Brody - 548 shares

Thats a change of ownership.

Whats going on ? Who are Sconset Capital ? What is the link between Sconset and SISU ? Who actually owns CCFC ?!!!

TheHellion · Dec 5, 2011

The only thing I've found is that they are a capital management company (if it's the very same) but only "accredited investors" can have full access to their site.

Edit: It appears they are the world's smallest hedge fund, from a search on Google, managing partner is a Timothy P Connolly. Based in Greater New York.

Sub · Dec 5, 2011

http://vimeo.com/8108116

is this the company ?

TheHellion · Dec 5, 2011

That's what came up on Google.

oldskyblue58 · Dec 5, 2011

I am assuming so sub and Hellion but it still doesnt explain why SBS&L have new owners and no one said anything. Do SBS&L still ultimately own CCFC or not ? Right now I dont know. If ownership of club has changed you might think that KD would have mentioned it in amongst all the other babble he spouted last week

Danceswithhorses · Dec 5, 2011

fine work crowsnest and OSB...what are they upto ?

Sub · Dec 5, 2011

http://www.linkedin.com/in/timothypconnollycfa

brief history to

TheHellion · Dec 5, 2011

It's sounding like muddy waters to me OSB. I'm not sure what to make of it.

ashbyjan · Dec 5, 2011

I wonder if the Football League have been informed of our change of ownership? Have they yet again been assured that no one individual owns more than 10%? If not has a fit and proper test been done? Has anyone emailed Damian Collins about this change? Whatever the reason for it you can bet your bottom dollar its not for the benefit of the team or the supporters.

wingy · Dec 5, 2011

Great work you guys ,is this similar to Leeds passing overownership to Bates when david conn and the league started sniffing round on the ownership rules issue ,,sure mr Conn and Damien collins and again local MPs would appreciate this info

Sub · Dec 5, 2011

more smoke and mirrors

cloughie · Dec 5, 2011

I have emailed Damien Collins and Bob Ainsworth with the details and asked a few more questions. I will keep you posted on any replies

oldskyblue58 · Dec 5, 2011

Just looking at the club website who's who of current appointments......

http://www.ccfc.co.uk/page/WhosWho/0,,10269,00.html

how many mistakes can you spot ?

In theory per Football League the website should detail the ultimate owners of the club .... where is that ?

crowsnest · Dec 5, 2011

I think Sconset Captial LP is based in the caymen islands - it is not sconset capital management.

A few people have used twitter to ask the guy about sconset capital management and he knew nothing about CCFC or Sky Blue Sports.

see page 3 of this to see the link with sisu.
http://www.etat.lu/memorial/memorial/2011/C/Pdf/c269305B.pdf

TheHellion · Dec 5, 2011

That seems more likely then crowsnest.

CUS Wyken · Dec 5, 2011

Crowsnest or Oldskyblue

Could one of you please do a basic write up about this. David Conn the journo sent me an email saying if we get anymore suspect dealings regarding SISU then to let him know. If you can write something about the current situation i'll forward it to him.

ashbyjan · Dec 5, 2011

This all stinks more and more of what Bates was up to at Leeds, faceless Cayman Island based owners. And some people still trust these people - beggars belief.

crowsnest · Dec 5, 2011

ashbyjan said:
This all stinks more and more of what Bates was up to at Leeds, faceless Cayman Island based owners. And some people still trust these people - beggars belief.

This transfer of shares started under the last board over a year ago!

Sub · Dec 5, 2011

http://companycheck.co.uk/company/03413843

does the transfer show up in the accounts of SISU in the attached link :thinking about:OSB Crowsnest?

Senior Vick from Alicante · Dec 5, 2011

OSB, if Sconset Capital own the shares then surely they would have to pass the leagues fit and propper test would they not or am I missing something?

WillieStanley · Dec 5, 2011

>Doesn't this show that now, there are entities with more than 10% in shares and that they are now required to reveal themselves?

cloughie · Dec 5, 2011

Damien Collins reply

Many thanks for this

I will certainly do my best to try and find out what’s going on

Regards

Damian

oldskyblue58 · Dec 5, 2011

Sub said:
http://companycheck.co.uk/company/03413843

does the transfer show up in the accounts of SISU in the attached link :thinking about:OSB Crowsnest?

No sub - SISU dont own the shares or the loans made they only manage it. The only thing that would show would be the fee they charge for managing their clients money - but even that wont show the football club involvement seperately

oldskyblue58 · Dec 5, 2011

Senior Vick from Alicante said:
OSB, if Sconset Capital own the shares then surely they would have to pass the leagues fit and propper test would they not or am I missing something?

Perhaps but if they are a further layer of investment management and all that has been done is to put the old funds under one name maybe not. But it is a question that should be asked. Wouldnt hold your breath about getting anything useful from the Football League though.

tisza · Dec 5, 2011

That French link is basically saying SISU's shares in that business were transferred to this Sconset. It's probably just SISU under a different name.

crowsnest · Dec 5, 2011

oldskyblue58 said:
In theory per Football League the website should detail the ultimate owners of the club .... where is that ?

The link is down at the bottom of the main page (same for all clubs)

http://www.ccfc.co.uk/page/companydetails

Still showing sky blue sports and leisure. Just had a quick check and a lot of clubs are breaking this rule.

CUS Wyken · Dec 5, 2011

cloughie said:
Damien Collins reply

Many thanks for this

I will certainly do my best to try and find out what’s going on

Regards

Damian

I also got an off Damian saying

Thanks for this
We will certainly look into it
Sconset appears to be a USA based hedge fund
Regards
Damian

So Sconset is an American based Hedge fund

oldskyblue58 · Dec 5, 2011

Cheers crowsnest

crowsnest · Dec 5, 2011

CUS Wyken said:
I also got an off Damian saying

Thanks for this
We will certainly look into it
Sconset appears to be a USA based hedge fund
Regards
Damian

So Sconset is an American based Hedge fund

No, thats a different company - we are looking at Sconset Capital LP in the Caymen Islands.

skybluesben · Dec 5, 2011

so now its: WE WANT SCONSET OUT????

CUS Wyken · Dec 5, 2011

crowsnest said:
No, thats a different company - we are looking at Sconset Capital LP in the Caymen Islands.

Ok mate, i'll let him know.

sky blue john · Dec 5, 2011

Is this an attempt from Sisu to remove CCFC from their portfolio ?

CovFan · Dec 5, 2011

sky blue john said:
Is this an attempt from Sisu to remove CCFC from their portfolio ?

http://www.jubileedebtcampaign.org.uk/Vulture%20funds%20%20where%20are%20they%20operating%20now%3F+5051.twl

Scroll down to the bottom... (section about Cameroon)

*gulp*

wingy · Dec 5, 2011

So what do we know ,what does it tell us ,it was well before otium was set up ,dellieu +brody wer'nt there ,Ranson would have been aware ,possibly not Hoffman /Elliot ,it does appear to coincide timewise with what happened @Leeds,fairly early in the season,Come on Onye fess up .

procdoc · Dec 5, 2011

how many other clubs are run by hedge funds? is this normal practice for clubs to move money around or something? I really don't get it

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