Sepalla interview (1 Viewer)

[Astute]

If you strip the 'SISU' element out of it for 1 minute..(not easy I know)

An owner has the chance to buy a stake for less it could 'potentially' be worth. Then from that a set of scenarios could occur:

You sell the other half to your co-owner - for more than you paid if they are making a success of it.
You buy the other half because your co-owner is struggling to make a success of it
You have some tangible asset you can sell to make some kind of money back on what you spent.

Maybe it's not about the new stadium.

What new stadium? :thinking about:

IMHO Wasps got their 50% for well under value. SISU should get the other 50% share for the same price. And there is a decent chance that SISU could end up with 100% of ACL for less than the proper value.

But knowing SISU they will end up with nothing and blame everyone else

 

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[PUSBPete]

New poster but supporter since 1964. Did anyone note this article in the Observer was written by Les Reid and a good one at that!

 

[RoboCCFC90]

But there is nothing to point away from the evidence. Yet you seem to point out that there is more chance of the evidence being wrong than right.

That's not what I am saying, what I am trying to say Astute is that until is confirmed in writing it would be wrong to second guess anything at this stage, you may be right, you may be wrong.

Let's see what happens between now and 8/11/14, I hope the Club does purchase the Shares of ACL from the Higgs Charity, at which point as JS alluded to in her interview, that will vary on information from Higgs which I hope is passed to CCFC.

You have to know what your buying, what the cost is, etc? We should all agree that this is sensible and the fact that Sisu/CCFC has done it's due diligence in this situation is good.

If the bid fails and the Wasps take 100% control then I hope there is land in Coventry that we could facilitate building a Stadium on, renting a Stadium without access to revenues of F&B, 365 days a year conferencing and events organised by the Club and so forth will:

A) Not allow us to grow as a business and therefore the playing budget will never be substantial for a Manager to take us beyond the current level.

B) We will not have security of our own home.

People say "Well Sisu have had this long and so forth" well I am sorry that's all the past now, instead of looking at digging the grave for Sisu it's time to get In touch with current times and look at what can be achieved instead of regurgitating situations and history that can't be rectified.


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[DaleM]

I think , come stadium deadline day for an offer, CCFC will still be the total shitfest it has become under SISU's tenure . Sisu will launch legal action yet again, and the club will be dragged down to new lows as all this shit plays out.

Only winners here are the lawyers and potentially the faceless investors not the football club which has only ever been a pawn in a grand money making scheme.

 

[Astute]

That's not what I am saying, what I am trying to say Astute is that until is confirmed in writing it would be wrong to second guess anything at this stage, you may be right, you may be wrong.

Let's see what happens between now and 8/11/14, I hope the Club does purchase the Shares of ACL from the Higgs Charity, at which point as JS alluded to in her interview, that will vary on information from Higgs which I hope is passed to CCFC.

You have to know what your buying, what the cost is, etc? We should all agree that this is sensible and the fact that Sisu/CCFC has done it's due diligence in this situation is good.

If the bid fails and the Wasps take 100% control then I hope there is land in Coventry that we could facilitate building a Stadium on, renting a Stadium without access to revenues of F&B, 365 days a year conferencing and events organised by the Club and so forth will:

A) Not allow us to grow as a business and therefore the playing budget will never be substantial for a Manager to take us beyond the current level.

B) We will not have security of our own home.

People say "Well Sisu have had this long and so forth" well I am sorry that's all the past now, instead of looking at digging the grave for Sisu it's time to get In touch with current times and look at what can be achieved instead of regurgitating situations and history that can't be rectified.

I fully agree. Other than the 10m or more needed to buy into ACL that is :wave:

 

[wingy]

If the Liquidator attempts to Purchase the Option and that Is all It Is ,then do those shares not come at a fixed Price .

Don't know why I'm playing along ,It Ain't Happening ,Open your Eyes .

 

[RoboCCFC90]

If the Liquidator attempts to Purchase the Option and that Is all It Is ,then do those shares not come at a fixed Price .

Don't know why I'm playing along ,It Ain't Happening ,Open your Eyes .

Many said that about getting back to the Ricoh and look what happened..

I am not saying it's a nailed on certainty but it's plausible and makes financial sense, as did the return to the Ricoh..


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[Grendel]

But you are questioning the facts of what it would take to buy the Higgs share of ACL and half of what ACL owes whilst having no evidence in the slightest of a reduction of what is owed would have been reduced in any way to take a cheap shot at what I have said.

Yes we don't have the proof. But we have the evidence. Which is all we have had during the debacle of SISU taking over our club and everything that has happened since. And the evidence has been proved to be right nearly all the time.

ACL will not "own" the loan though will they and nor will the council.....go on work this out all by yourself -- the loan is the killer question in all this

 

[wingy]

Many said that about getting back to the Ricoh and look what happened..

I am not saying it's a nailed on certainty but it's plausible and makes financial sense, as did the return to the Ricoh..


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It might to SISU and CCFC In their guise Robbo ,but not to anyone else involved of that I'm Confident .

The only way SISU can break into this deal and I don't think they can Is to Seriously reimberse the Charity ,Pay out on several millions to

settle Creditors within LTD and fund half the loan ..But the biggest reason that It won't happen Is that the other party ,Historically the CCC

now Wasps ,Is the debt burden within our club Is too great to Carry into a partnership.

 

[Paxman II]

The enticing thing here is ownership of 50% of the ACL lease that has been extended to 250 years! That's almost like saying freehold. It's not but it is the next best thing. value of the lease increases dramatically based on the length and the two occupants being successful, even mildly successful.
The deal with compass and others is not known but I would assume wasp have rights to income streams within the deal they struck surely, and so the same for CCFC should they obtain the other 50%?

It seems a no brainer on the surface.

What lurks beneath is the unknown elements we don't have knowledge of. I doubt WASP can be successful without CCFC as an anchor tenant with themselves. They won't be getting gates of 30k or even 10k and I'm a little puzzled as to how they have financed the deal?

If I was Joy, I'd buy in to 50% and squeeze WASP out eventually and get the whole 100% in good time. Building a smaller stadium is not a clever idea for CCFC if it only houses 15k fans.

 

[RoboCCFC90]

It might to SISU and CCFC In their guise Robbo ,but not to anyone else involved of that I'm Confident .

The only way SISU can break into this deal and I don't think they can Is to Seriously reimberse the Charity ,Pay out on several millions to settle Creditors within LTD and

fund half the loan ..But the biggest reason that It won't happen Is that the other party ,Historically the CCC now Wasps ,Is the debt burden within our club Is too great to

Carry into a partnership.

Well it sounds as if there plan is to put in "Conditional Bid" but as stated in the article the Club/Sisu are awaiting for the below information from the Higgs, in my opinion if the Higgs don't want to be vindicated in this saga along the same lines as Sisu they need to pull their finger out and at least get this information as per the request.

"Ms Seppala, said the club via liquidator Paul Appleton was still awaiting information from Higgs about the club's rights, the council loan, a reported agreement with Wasps to extend the ACL leasehold to 250 years, and whether Higgs had first option rights over purchasing the council’s share under the latest joint venture agreement in ACL."




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[Astute]

ACL will not "own" the loan though will they and nor will the council.....go on work this out all by yourself -- the loan is the killer question in all this

ACL owe the loan. Buy ACL you buy the loan. Buy 50% of ACL and you buy 50% of the loan.

The truth is so Grendel........simple.

 

[RoboCCFC90]

The enticing thing here is ownership of 50% of the ACL lease that has been extended to 250 years! That's almost like saying freehold. It's not but it is the next best thing. value of the lease increases dramatically based on the length and the two occupants being successful, even mildly successful.
The deal with compass and others is not known but I would assume wasp have rights to income streams within the deal they struck surely, and so the same for CCFC should they obtain the other 50%?

It seems a no brainer on the surface.

What lurks beneath is the unknown elements we don't have knowledge of. I doubt WASP can be successful without CCFC as an anchor tenant with themselves. They won't be getting gates of 30k or even 10k and I'm a little puzzled as to how they have financed the deal?

If I was Joy, I'd buy in to 50% and squeeze WASP out eventually and get the whole 100% in good time. Building a smaller stadium is not a clever idea for CCFC if it only houses 15k fans.

Spot on Paxman!



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[wingy]

They're gonna break your hearts lads.

 

[RoboCCFC90]

They're gonna break your hearts lads.

Let's remain optimistic Wingy, if it happens it would be so beneficial for the Club and the City as a whole.


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[Broken Hearted Sky Blue]

They're gonna break your hearts lads.

Already have Wingy already have.

 

[The Lurker]

Already have Wingy already have.

Precisely. They've ripped this club apart. I can't believe fans still think they want best for the club. They've showed there true colours more then once!!!

 

[Astute]

They're gonna break your hearts lads.

Not mine.

In life you look at the best options and go for what looks best. SISU seem to look at all options and go in the opposite direction

 

[Astute]

Let's remain optimistic Wingy, if it happens it would be so beneficial for the Club and the City as a whole.

Name the last time SISU have done anything that was beneficial for our club?

 

[oldfiver]

ACL owe the loan. Buy ACL you buy the loan. Buy 50% of ACL and you buy 50% of the loan.


That is so wrong

You buy half of ACL shares and that is it

If your 50% partner goes bust it does not change the status of ACL's loan - IT stills owes 100% of the balance

If ACL is generating sufficient to service the loan all well and good

However if it is not doing that and needs a cash injection then the problems arise. It could be the surviving shareholder has to prop up the WHOLE of the loan or fold ACL

 

[Grendel]

ACL owe the loan. Buy ACL you buy the loan. Buy 50% of ACL and you buy 50% of the loan.


That is so wrong

You buy half of ACL shares and that is it

If your 50% partner goes bust it does not change the status of ACL's loan - IT stills owes 100% of the balance

If ACL is generating sufficient to service the loan all well and good

However if it is not doing that and needs a cash injection then the problems arise. It could be the surviving shareholder has to prop up the WHOLE of the loan or fold ACL

I know - but this is Astute so all normal laws of business finance change in the world of Astute

 

[Grendel]

ACL owe the loan. Buy ACL you buy the loan. Buy 50% of ACL and you buy 50% of the loan.

The truth is so Grendel........simple.

Comedy gold

 

[Cheshire Sky Blue]

Or obtain information that's cosmetically sensitive, surely if you were buying something for a price you'd want to know all that your purchasing?


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It would appear that everything isn't what it looks like then:jerkit:

 

[skybluefred]

I agree that talking about a new stadium as well as the 50% does seem crazy. But she is in negotiations and does not want to completely reveal her hand.
Would you when buying something a person wants to sell not want a crutch to use that you could lean on in negotiations?

I rate Joy as a business person but dont like what she has done in the pursuit of business objectives to CCFC.

Seppala does not have a hand to reveal--all she has is a begging bowl.

 

[Astute]

ACL owe the loan. Buy ACL you buy the loan. Buy 50% of ACL and you buy 50% of the loan.


That is so wrong

You buy half of ACL shares and that is it

If your 50% partner goes bust it does not change the status of ACL's loan - IT stills owes 100% of the balance

If ACL is generating sufficient to service the loan all well and good

However if it is not doing that and needs a cash injection then the problems arise. It could be the surviving shareholder has to prop up the WHOLE of the loan or fold ACL

SISU have always wanted the Ricoh on the cheap.

If Wasps hit the wall SISU would be able to get the other 50% of the 250 year lease on the cheap. It would be much cheaper than building a stadium they constantly go on about that we all know more or less won't be built. ACL has a debt of 14m outstanding.

SISU keep saying that they are going to buy land and build a stadium. Read what Joy said that started this shitfest off. So they must be able to afford 100% of ACL if Wasps fail......unless Joy is lying to us.


SO old and Grendel.......show me where I am wrong.

 

[Cheshire Sky Blue]

But a very one sided view.

CCC got questioned.

Higgs got questioned.

Wasps got questioned.

Joy did all the talking. And there were a fair few points that she made that should have been questioned.

Yep, but it is a Lesley piece of writing, so don't expect balance or objectivity.

 

[Astute]

Yep, but it is a Lesley piece of writing, so don't expect balance or objectivity.

I don't. But for some reason he seems to have a fan base.

I look forward to his updates. Like the smoking gun or the 'up to 14 councilors that will vote against the Wasps deal'

But we still have some taking every word as gospel

 

[letsallsingtogether]

That is our problem historically us City fans are very Optimistic just been bitten to many times to take anything as gospel now.
What have our owners done to make us optimistic name one thing and bringing us home to the Ricoh is not one of them, we never should have left.
They have nearly crippled our club and they aren't finished yet.
When it comes to spending money they are very shy, unless they load it on to our already horrendous Debt.

Let's remain optimistic Wingy, if it happens it would be so beneficial for the Club and the City as a whole.


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[Broken Hearted Sky Blue]

Barbie's Ken?
Orange Ken?
Ken Barlow?

All of the above?


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There's only one of these that has any relevance to this thread and it's not Barbies or Barlow.

 

[letsallsingtogether]

Barbie's Ken?
Orange Ken?
Ken Barlow?

All of the above?
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Are You really that Deluded???

There you go I have given you a clue.:thinking about:

 

[wingy]

ACL owe the loan. Buy ACL you buy the loan. Buy 50% of ACL and you buy 50% of the loan.


That is so wrong

You buy half of ACL shares and that is it

If your 50% partner goes bust it does not change the status of ACL's loan - IT stills owes 100% of the balance

If ACL is generating sufficient to service the loan all well and good

However if it is not doing that and needs a cash injection then the problems arise. It could be the surviving shareholder has to prop up the WHOLE of the loan or fold ACL

Must be ways of Limiting your liabilities to a partner company .

 

[Frisky blue]

New poster but supporter since 1964. Did anyone note this article in the Observer was written by Les Reid and a good one at that!

Really?
The article is total crap, from start to finish.I can't be arsed to relate my feelings regarding the twat who wrote it.

 

[Rusty Trombone]

That is so wrong

You buy half of ACL shares and that is it

If your 50% partner goes bust it does not change the status of ACL's loan - IT stills owes 100% of the balance

If ACL is generating sufficient to service the loan all well and good

However if it is not doing that and needs a cash injection then the problems arise. It could be the surviving shareholder has to prop up the WHOLE of the loan or fold ACL

Joy wants the whole of ACL according to the article, so why the concern? Wasps going bust would be good for SISU wouldn't it?

 

[Frisky blue]

When does Jack Griffin ever post about football? He only ever pipes up when his council chums come in for some grief.

And you never defend your sisu chums Grendel?

 

[Kingokings204]

Just read this whole thread and to read some of the shit of some posters is embarrassing.

How anyone can read this article and be taken seriously is beyond me.

The article is complete BS and not worthy of being used for toilet paper. You have got Mr Sisu writing the article and all questions and details fits in with sisu and make them look the good guys in all this.

Very bad journalism and explains why he now writes for a very unpopular cheap nasty newspaper. When they print stuff like this it's not worth anyone's time. It's biased, factually wrong and morally wrong.

As for my opinion, there is 100% no new stadium and the fact JS still harps on about it with TF shows we are still run by the same bunch of half wits. We need to move past all the crap. Been too long now. 50% is seemingly up for grabs and no poster on here not even osb knows how it can be done but it can be done in sure somehow.

I think we are being set up for the fall here. There is no way CCDs are getting 50% so all this is bollocks really. Why we are debating this is irrelevant. It could happen sure but it won't be allowed to happen. A veto or something will come up.

We are still as fucked now as we were before the difference is we are back at the Ricoh now which is at least something. I'm living being home but the fact I love something that should never have been taken away is everything wrong with where we are.

As for les Reid and his mates. All a bunch of sad wankers who must be being paid or something as everything they spout is shite. Everything they have said is wrong. End of. Every tweet and every article from LR is crap. Even laughable. I ignore them as its pointless. Pathetic. Sacked from CT for a reason or should of say reasons.

Any other doubts are summed up by Joy claiming a new stadium is before the end of the year with site details etc and ready in 3-6 years now and then wants 50-100% in the Ricoh? I mean come on. It's a joke.