SISU say they may "get out of town" next week (1 Viewer)

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scroobiustom

scroobiustom

New Member
Who knows whats happening....I guess we will SI SUon (see soon)

i'll get my coat...
 
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theferret

Well-Known Member
Bluegloucester said:
theferret said:
Nobody has said it is worth millions, and the club is not currently loss making if you take the rent out of the equation. The club is almost on an even keel and has roughly broken even this season up until recent...

With or without the rent, the club is still loss making.
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Well, the conversation I had with a senior club official recently suggests otherwise. The club had been almost entirely self-sufficient this season, although the Spurs and Arsenal cup ties were a significant help.

Obviously they haven't been paying the rent, but what is clear is that without that monkey on its back we have a viable football club which if allowed to could rebuild largely free of debt seeing as SISU seemed quite happy to write it off as equity (up until recent events at least). ACL will not play ball though, so we face the very real prospect of the club going under just at the time when when the club was starting to look like a semi-viable business.
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Tonylinc

Well-Known Member
Oh, but I forgot, people don't want to take the sensible route out, they'd rather the club disappeared and started afresh is the EvoStick Load of Old Shite One Man and His Dog Northern League Division 2. Look; I'm as much as a Cov fan as you and want nothing but the best for my team but don't you realise by now that Sisu will fleece us for whatever they can make and just walk away! They have no interest whatsoever in the long term well-being of our club. It is seen simply as another "investment"Well, I have news for you Sisu.....your "investment", has gone tits up so GET OUT NOW. Oh, sorry, forgot.....there is nobody waiting in the wings to take over. Just do it Sisu and then we will find out if that is true.
 
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wingy

Well-Known Member
theferret said:
Bluegloucester said:
Well, the conversation I had with a senior club official recently suggests otherwise. The club had been almost entirely self-sufficient this season, although the Spurs and Arsenal cup ties were a significant help.

Obviously they haven't been paying the rent, but what is clear is that without that monkey on its back we have a viable football club which if allowed to could rebuild largely free of debt seeing as SISU seemed quite happy to write it off as equity (up until recent events at least). ACL will not play ball though, so we face the very real prospect of the club going under just at the time when when the club was starting to look like a semi-viable business.
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You keep pedalling it sunshine some may buy it ,The Boy who cried Wolf .
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coundonskyblue

coundonskyblue

New Member
theferret said:
Nobody has said it is worth millions, and the club is not currently loss making if you take the rent out of the equation. The club is almost on an even keel and has roughly broken even this season up until recent events.

Accessing those revenue streams would help, and at least make the club viable as an on-going concern and also more attractive to any potential buyers or investors as we would then effectively have a club with no external creditors that was not losing money, which is not a particularly bad place to be in.

Oh, but I forgot, people don't want to take the sensible route out, they'd rather the club disappeared and started afresh is the EvoStick Load of Old Shite One Man and His Dog Northern League Division 2.
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Last accounts filed showed the club made a loss of £6.7m.

Since then the club has been relegated and attendences have fallen by around 5k.

What makes you believe the club has broke even this year?
 
torchomatic

torchomatic

Well-Known Member
You're constantly banging on about SISU walking away, etc. That's rubbish. You even admitted the other week you had no evidence and were making it up.

"If that means liquidation then so be it." Certainly not like me or any Coventry City fan, I know.

Tonylinc said:
Look; I'm as much as a Cov fan as you and want nothing but the best for my team but don't you realise by now that Sisu will fleece us for whatever they can make and just walk away! They have no interest whatsoever in the long term well-being of our club. It is seen simply as another "investment"Well, I have news for you Sisu.....your "investment", has gone tits up so GET OUT NOW. Oh, sorry, forgot.....there is nobody waiting in the wings to take over. Just do it Sisu and then we will find out if that is true.
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theferret

Well-Known Member
Bluegloucester said:
I think the senior club official is being economic with the truth, the debt was never converted to equity. The club is still losing money.
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I never said anything about the club official stating the debt had been written off as equity, it was Fisher that stated that some time ago. Whether or not this has happened or will happen will not become clear until the next set of accounts are filed.

If it doesn't happen then that will be a clear example of them not being true to their word, but I guess they will always use the rent row as their get out, but perhaps we will not get to that point anyway if things are to come to a head sooner rather than later.

The conversation I had focused on the general finances and it was said that the club is getting close to the point where it can survive without having to go cap in hand to SISU, and that this season the club has barely made a loss at all (rent aside).
 
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Sky Blue Pete

Sky Blue Pete

Well-Known Member
Acl CCC will not deal with sisu and neither will investors cause they lie, cheat and are economical with their business relationships in the opinion of those who have tried to deal with them it would appear from reading what there is to read. otis I think I would prefer admin and new owners who will be able to negotiate with other parties rather than play offs. I am not sure but I think so cause this whole brinkmanship stuff from Tim is bs!!
 
Sick Boy

Sick Boy

Well-Known Member
OyJimmy said:
Yes because it would protect ACL revenue and yes cos it is legal
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Wasn't ACL setup by the council and The Alan Higgs trust? I am not sure it would be legal at all. Where would you suggest ACL would get the funding from to invest in the club? The council?
 
ashbyjan

ashbyjan

Well-Known Member
Sick Boy said:
Why would anyone want to pay 400K a year in rent and not receive any revenue?
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Facts are ACL have offered CCFC around £250k in revenue (£100k f&b profits and £150k car parking) and also offered to cross invoice the f&b turnover (£1m) for FFP purposes for CCFC so they would be receiving significant revenue for their £400k rent - oh and a Premier League standard ground as well.
 
Sick Boy

Sick Boy

Well-Known Member
coundonskyblue said:
Maybe when we have competent owners they will be trusted with revenue streams.
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So ACL & The council are now allowed to play God with the football club? What would you define as competent owners? People who are willing to waste a fortune on the club and then go quietly once their money runs out?
 
torchomatic

torchomatic

Well-Known Member
Sick Boy

Sick Boy

Well-Known Member
ashbyjan said:
Facts are ACL have offered CCFC around £250k in revenue (£100k f&b profits and £150k car parking) and also offered to cross invoice the f&b turnover (£1m) for FFP purposes for CCFC so they would be receiving significant revenue for their £400k rent - oh and a Premier League standard ground as well.
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Why should the club not benefit from all revenue generated by their own supporters? Anyone looking to buy the club would expect the same as well.

The anti-sisu sentiment is so strong amongst our supporters that they are against what is best for their football club. Bizarre.
 
sky blue john

sky blue john

Well-Known Member
What are we supposed to believe ?
one week TF tells us they will build a new stadium the next we will go into liquidation !!!
Tell me anyone how can we believe anything they say ?
 
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