SISU to continue to finance club (1 Viewer)

fanta80 · Jul 28, 2011

Back page of todays telegraph says SISU have agreed to pump more money into the club allowing the club to be fine until the end of the season.

stevo_ccfc · Jul 28, 2011

I guess this ideas good news as it means they wont be putting us unto admin any time soon.

Maybe this is why we were able to bid for le fondre

paul1978 · Jul 28, 2011

fanta80 said:
Back page of todays telegraph says SISU have agreed to pump more money into the club allowing the club to be fine until the end of the season.

oh no please!!!

ccfc1973 · Jul 28, 2011

Good news? Youre joking This means the hoffs takeover seems dead and we will plod along like last year with no signings and losing 500,000 a month , and we didn't make a money bid for le fondre .... I look forward to the end of the season when we go down and the money runs out, we can then start next season in Div 1 on minus 10. #SISU OUT!!!!!!!

oldskyblue58 · Jul 28, 2011

Dont actually see why this is news. Had already given that undertaking in April so that the 2010 accounts could be signed off

Nothing has actually changed for SISU or GH

Another slow news day then at the CT

stevo_ccfc · Jul 28, 2011

ccfc1973 said:
Good news? Youre joking This means the hoffs takeover seems dead and we will plod along like last year with no signings and losing 500,000 a month , and we didn't make a money bid for le fondre .... I look forward to the end of the season when we go down and the money runs out, we can then start next season in Div 1 on minus 10. #SISU OUT!!!!!!!

Woo such positivity, have you thought of a career in motivational speaking?

Chipfat · Jul 28, 2011

stevo_ccfc said:
Woo such positivity, have you thought of a career in motivational speaking?

Realism my friend, CCFC is stating what i would say is what the majority of fans are feeling, this squad is not strong enough to be anywhere near mid table. And when you look at Deegan, Turner, Platt and Macpake having to be nursed back in aswell as Clingan not being able to play a full season we are going to be in deep trouble...

SkyblueSavage · Jul 28, 2011

As I understand, most of our debt is owed to sisu, so if they were to put us into administration they would effectively be writing off the their own debts! Can anyone see them doing that! Administration is not a threat IMHO... However being on the bottom rung of priorities our owners, to me, is. It may not be all rosy under Hoff, but at least the values, history and brand of the club we love will be protected... Hopefully

stevo_ccfc · Jul 28, 2011

If they continue to fund the club till next season then that also gives us longer to get a new owner in

Godiva · Jul 28, 2011

ccfc1973 said:
Good news? Youre joking This means the hoffs takeover seems dead and we will plod along like last year with no signings and losing 500,000 a month ...

No, it does not mean the takeover bid is more dead than was before. It could actually mean it's more alive than ever.
A takeover takes time and has to be done in the shadows and this 'news' buys that time and attempt to put speculations to rest.

I am NOT saying it is so, I just say you may be wrong.

And I am still in favour of using any new money to buy the stadium instead of wasting it on paying up old debts.

Lord_Nampil · Jul 28, 2011

you can see what there doing, covering the cost untill the end of the season when the new league rules come into place and they wont have to cover the costs any more??? Or have i seen it differently?

rob9872 · Jul 28, 2011

If they can survive until the end of the season then they may get lucky and come out of this ok.

I'm not suggesting that we're the greatest side by any stretch of the imagination, but last season we were unlucky with injuries, suspensions and a few undeserved results. We finished low, but flirted with the top and went on a horific run, with a bit more luck it could have been different.

I'm not just tring to put a positive spin on things, but we lost Westwood, Gunnar and King. We have Murphy, a returning Conor which imo means we are a good premiership loan striker away from having a similar team.

If by finding cash to ensure we survive, looking at a reduced wage bill and runing costs mean that we may not sign anyone but our not forced to sell our promising kids, Clingan, Turner or Juke, then we might just be ok and if we get that luck, then thetre is not a massive difference between the teams in this league and I didn't see much in any of the opposition last season that should scare us.

Tankie · Jul 28, 2011

fanta80 said:
Back page of todays telegraph says SISU have agreed to pump more money into the club allowing the club to be fine until the end of the season.

I'm having trouble understanding, their definition of "FINE" their interpritation fills me with dismay, to be honest.
Tank Top..

MatthewWallis · Jul 28, 2011

They're funding us until the end of the season then what? Why don't they just f*** off now instead of at the end of the season

We'll_live_and_die · Jul 28, 2011

MatthewWallis said:
They're funding us until the end of the season then what? Why don't they just f*** off now instead of at the end of the season

At the end of the season the club needs to become more or less self sustainable, which means they won't need to fund us and they may get a return on their investment.

ccfc1973 · Jul 28, 2011

if we dont get some signings in (strikers especially) then will they want to continue funding a div 1 team

ashbyjan · Jul 28, 2011

SISU have a different definition of funding - the CT talks of the millions they pumped into the club in March to keep us going and it turned out this was actually from the sale of a Coventry City asset in Prozone, so in most peoples minds this was not funding just selling off assets to keep us going. Obviously SISU have identified enough assets to sell or mortgage against to keep covering the losses but then what? I just cannot fathom what SISU's plan is - cling on for as long as possible and hope that a miricle occurs and someone will give them £30 million for a loss making company with no assets, prospects or future? Doesn't seem much of a plan to me - I would be happy if Dulieu or any one of the other SISU puppets actually explained the plan and the strategy because I am failing to see it.

Chipfat · Jul 28, 2011

Sell Turner when he is fit, take the gunnarsson money and hope Dann gets sold for 12 mill getting 1.2mill, that will kep us going until the end of the season. League 1 football, no potential buyer and then admin, that is the only way we are going with these people in charge.

paul1978 · Jul 28, 2011

i have to say im very dissapointed to be still stuck with sisu for yet another season
what happened to the investors they were talking to ???
ummm

SkyBlue_Bear83 · Jul 28, 2011

Does this make a takeover more or less likely to happen?
Or no difference?

oldskyblue58 · Jul 28, 2011

Have to agree it would be good if the Board clearly explained their strategy. What is their strategy for the squad? Finance wise it is all geared to minimising costs but how are they planning on doing this?. We all think we know but it would be good for them to state clearly what is going on.

I know everyone sees Prozone as the club's asset. But it never was. It was brought into the group when SISU took over at CCFC. It was what RR brought to the table and because SISU hedge funds owned the group then they owned/controlled Prozone. RR took shares and left the monies he should have made from selling Prozone to SB S&L in the group as a loan. Subsequently he has been paid out when he left

SISU are quite within their rights to sell it and not put any further funds into CCFC, even take as repayment of their debt - but it seems they have not done that and have put money into CCFC. The alternative was that we would be in administration already - we might not like it but thats the facts. Seems what ever SISU did with Prozone they would get criticised - actually there is an arguement for saying they would have got more by letting CCFC go bust and keeping Prozone.

Lord_Nampil · Jul 28, 2011

I still want to hear what the board have to say! I am guessing this is what Brody was on about!

Godiva · Jul 28, 2011

oldskyblue58 said:
I know everyone sees Prozone as the club's asset. But it never was. It was brought into the group when SISU took over at CCFC. It was what RR brought to the table and because SISU hedge funds owned the group then they owned/controlled Prozone. RR took shares and left the monies he should have made from selling Prozone to SB S&L in the group as a loan. Subsequently he has been paid out when he left

Yes I agree.
Prozone was sold to buyout Ranson - not to strip the club for assets.
I do wonder what the actual cost buying out Ranson was - his shares and the loan. But I guess it was always a preagreed figure stated in the shareholders agreement.

Godiva · Jul 28, 2011

Lord_Nampil said:
I still want to hear what the board have to say! I am guessing this is what Brody was on about!

I there is ongoing negotiations with new investors, the board will be quiet until an agreement has been made. As Hoffman and his backing group are all silent, I have to think they are part of the negotiation.

Lord_Nampil · Jul 28, 2011

I was talking about how the CET have said big Ken will be announcing this shortly but got in first, rather than invesent!

mattylad · Jul 28, 2011

Its just another drip feed in the big PR battle fopr the club drip, drip, drip

Nonleagueherewecome · Jul 28, 2011

Several thoughts spring to mind: One is the obvious "to the end of the season..then what?" One is "how-does that possibly mean by selling players?" Other thoughts...do they just mean absorb the losses (therefore just adding to the figure they'll want for the club when they do eventually sell, making a bid less likely). Or do they mean real investment-y'know, like signing much-needed players, or even just getting Cranie and Clingan on new contracts pronto? I fear the latter is most unlikely, in which case we'll continue to limp along like a lame dog that should just be taken out the back and shot.

paul1978 · Jul 28, 2011

Godiva said:
I there is ongoing negotiations with new investors, the board will be quiet until an agreement has been made. As Hoffman and his backing group are all silent, I have to think they are part of the negotiation.

how do know they are still talking to investers
do you work with mr snozzer by any chance

Godiva · Jul 28, 2011

Godiva said:
I there is ongoing negotiations with new investors, the board will be quiet until an agreement has been made. As Hoffman and his backing group are all silent, I have to think they are part of the negotiation.

paul1978 said:
how do know they are still talking to investers
do you work with mr snozzer by any chance

Damn keyboard ... can't spell and full of typo's!
It should read: IF There is ongoing ....

Sorry.

paul1978 · Jul 28, 2011

Godiva said:
Damn keyboard ... can't spell and full of typo's!
It should read: IF There is ongoing ....

Sorry.

where snoozer gone again
bring back the snoozer we need to know whats going on

sky blue john · Jul 28, 2011

I would think this is just a stunt to drive the price up. All sisu are doing is a negotiating tactic by saying they will continue to fund the club even though they want out. They are trying to force the consortiums hand to give them more money. One of the problems is that Sisu know how much money the consortium plan to invest and want a bigger pay off.

skyblue_rich · Jul 28, 2011

Hopefully GH will see sisu's bluff, and when the club goes into serious financial problems, they can pick up for what it is worth.

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