Sisu have some brass neck (1 Viewer)

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Skybluescotland

New Member
The letter raises many questions and the Board's duty will be to seek further clarification, in particular regarding the transparency of investors' identities and capability of funding."


capability of funding.......!!!!!!!!!!:facepalm:
 
We'll_live_and_die

We'll_live_and_die

Moderator
I think it's called due diligence my friend. Would you agree to sell your car to someone only to find out they have only half the money when they come to collect?

Nope didn't think so. It's standard business practice matey.
 
cloughie

cloughie

Well-Known Member
Regarding the identities of the investors, Dulieu has previously stated that he was told their identity by the Hoffman and recognises them as 'serious players'
 
ashbyjan

ashbyjan

Well-Known Member
Don't have a problem with this - standard business practice and Hoffman has already stated that this information would be made available. This is not going to be a 20 minute negotiation because not only do the City/SBS&L board have to decide its a good deal, then SISU have to sell the deal to their fund investors who are the actual owners of the club. What the arrangement of independence of fund control SISU have with their clients is obviously confidential, as ironically is the identity of the actual investors. I expect these talks to take at least a month, maybe longer but hopefully we won't be too far adrift at the foot of the division before January transfer window.
 
oldskyblue58

oldskyblue58

CCFC Finance Director
reasonable request and all part of normal contract negotiations. Dont have a problem with it. Wouldnt expect a quick resolution to this
 
S

Skybluescotland

New Member
Rich said:
If you didn't want answers then why start the thread? I don't understand your response to my reply?
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I did not ask for a reply as it was not a question MATEY!

The point of the post (that flew over your head) was that Sisu are checking out other people on their "capability of funding" A bit rich (sorry) dont you think when they were selling the very first two players that RR bought to be capable of funding CCFC. A club that HAD more assets when they stole our shares than it has now??????

Come back GR, MM and BR ALL is forgiven!
 
ashbyjan

ashbyjan

Well-Known Member
Much as I cannot stand SISU they have not created the mess we are in - haven't helped get us out of it but the men responsible for the mess are Robinson, Richardson and McGinnity and they should never ever be forgiven
 
S

Skybluescotland

New Member
ashbyjan said:
Much as I cannot stand SISU they have not created the mess we are in - haven't helped get us out of it but the men responsible for the mess are Robinson, Richardson and McGinnity and they should never ever be forgiven
Click to expand...

So every owner before Sisu are responsible but Sisu are poor little darlings that have done their best?? Wake up Ash.

Sisu are cowboys who thought they knew how to run a football club but were found out in month ONE when RR was going to walk due to Dann and Fox being sold off and for Sisu to bank the money.:eek:
 
We'll_live_and_die

We'll_live_and_die

Moderator
You started a thread that you didn't want anyone else to post in? SISU are ensuring that the buyers will have the money to start running the club in a successful manner. I personally don't see the problem with this Matey. Just to note Matey is a friendly term, so I don't understand your hostility. Matey adj. friendly or intimate; on good terms. n. friend or fellow: usually used in direct address. mateyness , matiness
 
Sterling Archer

Sterling Archer

Well-Known Member
Well, this is an abortion of a thread. :laugh:

Any argument you ever have in life ever falls down after the immortal line:
"Come back GR, MM and BR ALL is forgiven!"

Or maybe you are just suffering from a bit of memory loss?
 
ashbyjan

ashbyjan

Well-Known Member
SkyBlue Scottie - Sisu are not cowboys - that's part of the galling thing - they are a professional investment company that makes its money by taking ailing businesses and turning it around. When they took over this club we were £25 million in debt to the inland revenue, the VAT man, the directors, suppliers etc and had no assets whatsoever. The reason we were in such a dire state was thanks to the brilliant management of Richardson, Robinson and McGinnity. Three years on and we are basically back to square one so whilst SISU haven't done what they set out to do and maybe even made the situation slightly worse they are not to blame for the current predicament. They have failed in their attempt to turn the business around and that is why I want them gone as under their stewardship things will just continue to decline but the Triumvirate of Crapulence are to blame for the mess.
 
oldskyblue58

oldskyblue58

CCFC Finance Director
With respect the reason SISU & RR are/were here is because of the poor management of the clubs finances under successive boards of directors led by the likes Richardson, Robinson and McGinnity. Those trustees of the club well being took us to £60m in debt and the brink of extinction. How can you want them back. God forbid. What they did to this club is the very reason we are where we are today.... they could have made better decisions for the benefit of the club but they didnt did they.

SISU and RR have made mistakes but they have also done some good things. A better cost structure is being got to grips with (i know it doesnt include a player budget but it is essential to long term well being and dont expect new owners to drop it) and RR brought us the likes of Westwood Dann & Fox. Oh and btw Dann was sold in 2009 Sisu took over Jan 2008 hardly a month one sale. If SISU had come up with £1m to buy players pre season most of the posts on this board and many others wouldnt exist. Have SISU added to the problems from a fans perspective certainly they got their plan wrong but they are not the root cause of all our ills

Its time for SISU to go but I think some people have selective short term memory syndrome when it comes to the good old days under past directors.
 
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S

Skybluescotland

New Member
So when BR,GR, MM took the over they were all taking on a rich and well run football club??
Dont remember any of you pointing this out in the past. Poor old MM... It wernt his fault, the club was in the shit well before he got here..:whistle:

This mob had a blank sheet of paper to work off and they went back on their word from month one and it's been a joke ever since.


Why poor old Sisu.??/ At least the above did not ROB the stand alone fan of their shares only to sell off Ryton, and even porn this years ST funds. Sisu have ground us down more than any other owner IMO. Oh, and they will to keep so of the stolen shares i bet.:blue:
 
oldskyblue58

oldskyblue58

CCFC Finance Director
well public record shows that the first year of accounts all three were directors together we lost £8m and went from net assets of £1.4m (had maintained this figure for many years previously) to net liabilities of £6.2m (1996 accounts) and progressed the club with regular losses to net liabilities of over £37m in the 2007 accounts. Thats what you call team work!

MM was a director well before 1996 when the club had net assets as was BR but fact is they oversaw with GR the accummulation of massive debts and our relegation to the Championship during a time when we had our better average gates

SISU havent done a great job took over net liabilities £9m they now stand at £18m as of 2010 accounts. Wasnt a clean sheet they took over but thats not relevant they have still made losses

You tell me if BR GR and MM did a good job. Not saying SISU should stay, we are well past them being in a position to, but look at what really happened. Just for the record always have had healthy scepticism of all the directors and been very clear about who left us in the mess in the first place and how it has been added to since

as for the shares who got the club in the position that the shares were worthless and put them at risk in the first place ?
 
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ajsccfc

ajsccfc

Well-Known Member
What they're asking is perfectly reasonable in this case. They're asking for evidence of necessary funding, not saying 'spend loads on players like us'
 
J

Jack Griffin

Guest
Rich said:
I think it's called due diligence my friend. Would you agree to sell your car to someone only to find out they have only half the money when they come to collect?

Nope didn't think so. It's standard business practice matey.
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They have got to make sure the bid is credible, remember Joe (Bullshitter) Dhinsa?
 
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