Why did SISU take us over? To make money for their investors.
Like most hedge funds they bought cheap, and looked to turn us around quickly by promotion (and also the possibility of buying part/all of the Ricoh). They had a business plan which was to build up a young progressive squad by investing money in 2 or 3 quality players in each transfer window.
As soon as Danny Fox and Scott Dann were sold alarm bells started ringing for me. The rest has been a downward spiral, culminating in:
1) relegation (inevitable with last season's 'squad')
2) a failure to pay ACL rent (despite apparently having funds to buy out the Higgs 50% stake in ACL)
3) a continuing lack of open communication with the fans resulting in a growing mistrust and malaise towards the owners
I maintain that administration after the Richardson/McGinnity/Robinson debacle would have been better for all concerned.
Firstly, let me make it clear that I want SISU out.. they have misjudged and mismanaged CCFC and hadn't a clue about running a football club when they took us over. they stll haven't.
What's going on with ACL/Trust and CCFC ? I am sure that SISU knows exactly how to handle this situation and will do as the Court instructs and keep the Escrow Account topped up to £500,000. ACL cannot touch this money so ACL is really over a barrel. The only way forward for ACL is to re-negotiate the rent to ensure that they receive income.
Firstly, let me make it clear that I want SISU out.. they have misjudged and mismanaged CCFC and hadn't a clue about running a football club when they took us over. they stll haven't. HOWEVER:
If CCFC had not sold it's star players to cover outgoings, CCFC would not be here today. SISU is a Hedge Fund and simply cannot invest money investors have trusted them with to purchase new players. They have no money to invest as it is not theirs.
So, SISU had no option to let CCFC sell it's players and high wage earners in order to survive.
What's going on with ACL/Trust and CCFC ? I am sure that SISU knows exactly how to handle this situation and will do as the Court instructs and keep the Escrow Account topped up to £500,000. ACL cannot touch this money so ACL is really over a barrel. The only way forward for ACL is to re-negotiate the rent to ensure that they receive income.
I stress again, I want SISU out, but CCFC is still here due to SISU's tactics.
Probably not the time or the place but I've always wanted to ask if that was you in your avatar picture?
Yes it is -- long suffering 70 year old -- 60 years as a CCFC supporter !
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