What list?!?!
Ok then, most of the debt is in house.
I think I know who that's aimed at!
I will admit that I was a fan of SISU before they lost interest in my club and moved the goalposts with regards to the 'plan'. I've no shame in admitting that.
There was nothing wrong with the way the club was being run at that point. We were making moves in the transfer market that were widely recognised as astute and slowly building a good team.
I think we can all agree on that.
Because the debt is considerbly lower and most of it is owed to themselves.
Yes it was aimed at you, wasn't having a go.
I pretty much agree with everything you've said there, however many on here seem to blame SISU as putting the club in the position where they can't afford to make moves in the transfer market.
I've always backed SISU and although I'm pissed off with the way things are now I can't blame them. They may have made some strange decisions but they have done nothing to harm the future of the club. The way some folk are going on they have very short memories - they want to buy players we can't afford and buy the option on the stadium we can't afford. Can someone remind me how that ended the last time we did those things???
Why can you not blame them???? I backed them cos they told us all they had a plan and the long and short of it is THEY BOTTLED IT!!. No shame in saying that it has been a f;ing disasater ! Why they can not just put their hands up and say sorry we failed and pass it onto the next guy who wants a stab at it. There ant going to be long q's of folk wanted to take over CCFC or many , many other clubs for that matter so take the deal and do the right thing for once Sisu.
Please stop looking for a soft landing for them Dinyull. No wonder people think you are a sisu shareholder!!!:thinking about:
Sorry you're wrong. The debt at the time of the takeover was around 33 million of which some 14 million was owed to Higgs, McGinnity and Robinson. Leaving a net debt of around 19 million taken on by SISU.Tisza
The previous owners created this mess - hence them writing off their debt. I think they actually recieved some money but not all they were owed, but then there are plenty of people who think Robinson, McGinnity actually made more money off Cov than lost...
SISU had to pay the debt to the co-op (bank) as soon as they walked through the door and the debt is about £10m-20m smaller than the previous lot left DESPITE us losing £5m a year. We have terrible income problems (nowt to do with SISU) and wages, operating cost etc etc etc are rising, hence losing more money year on year.
It might not be loads better, but it is better and I really think we'd be in L1 (if not L2) without SISU's initial money.
Yes, I'm a SISU shareholder who's been posting on GMK for over 5 years......
If your reasonable and look at the facts you'd probably come around. In fact I'd go as to say SISU's biggest mistake was taking us on in the first place but I'm glad they did. The past 3 years (as shit as they were tbf) has to be better than admin and Lwague 1/2 football - if the club had survived of course.
the debt taken on was around 20 million now it's nearly 36 million. So the debt increase does reflect a 5 million a year loss.
The difference in the 2 situations was the willingness of the previous regime to write off the money owed to them. Something SISU are unlikely to do.
The point about the bank debt then is well made but still we seem to owe 12 million to other parties now (more than we owed the bank back then).
This was taken from another thread from Oldskyblue58 from the accounts:
''May 2007 the CCFC Holdings Group had a negative balance sheet of £37.6m (gross liabilities £40m) having made losses in 2007 of £4.3m and 2006 of £3.3m
May 2010 the SB S&L Group had a negative balance sheet of £17.9m (gross liabilities £37.1m) having made losses in 2010 of £5.7m and 2009 of £8.2m. Of the £37.1m there is £24m owed to SISU
in that time we have lost 5000 off the average gate or £2m per year in revenue''
So in 2010 we were £3m better off despite losing £5m a year and attendances falling.
CCFC Holdings had to write off their debt, there was no choice. Admin was looming and they got a better deal from SISU then they would have through admin - it was in their best interest. And CCFC Holdings put the club under strain for holding out on 'their' money for so long putting the club deeper into debt.
Edit. Cheers oldskyblue!!!!
ive said all along that sisu need to invest in the playing squad and stop selling all our decent players and start running us properly or fuck off.What would be your position if SISU managed to get some investors? Would you still want them out?
Also (added as an edit), why would you want them out? The only mistake SISU made was running out of money (many did during the recession!) - Ranson made all the decisions on the football side of things.
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