Sisu (1 Viewer)

Mucca Mad Boys · May 9, 2013

Nonleagueherewecome said:
Woah, has somebody got access to your PC or did you really type this?

It's obvious to everyone - I don't think anyone has denied it - but that's what a lot of owners of football teams do, Chelsea, Man U to name the most obvious of teams to do so. I bet if PH4 gets involved, when he loans money, it'll go on the club, so essentially, it's 'free money' for these people.

Brighton Sky Blue · May 9, 2013

SkyBlue_Taylor said:
The 60m is obviously debt from other ventures dumped on CCFC like the Glaziers did at Man U, and other owners do. Intelligent from SISU, but very c-unitish.

The club's debt is to Holdings and ARVO. Holdings in turn is in debt to SBS+L which in turn is in debt to the SISU funds. Therefore if you want to know the real terms debt just look at the SBS+L accounts and add on the ACL/ARVO figures.

RegTheDonk · May 9, 2013

blend said:
........The emotional/fans/public part of it they are not bothered about in the slightest, just cold hard business.

Agreed and you have to play them at their own game. Business is money, they tried to screw ACL over by not paying up. The only way fans can do likewise is not to go to "home" games or buy merchandise.

Shame it hurts the club, but would show the administrator that any option offered by SISU (or one of their multi-appendages) will not be tollerated by the paying public and would not be in the "best interests" of the business he is supposedly doing right by.

Oh, if CCFC Ltd are in admin, presumably SISU cannot use the "liquidation" threat.

Bluegloucester · May 9, 2013

SkyBlue_Taylor said:
The 60m is obviously debt from other ventures dumped on CCFC like the Glaziers did at Man U, and other owners do. Intelligent from SISU, but very c-unitish.

You need to read the accounts, it is not debt from other ventures.

Senior Vick from Alicante · May 9, 2013

Sorry boys but I have a sneaking suspicion that this is the end game. They have taken out more than they have put in in management fees that's the debt, if they are told by the administrator that the games up and to walk away they could still take another 1.8 mill if they agree on 3p in the pound. Add to that they own Ryton which will probably go for another 3 mill that's 4.8 mill just to walk away with on top of what they have already taken out in player sales. Why not take the money and run instead of getting involved in a costly legal battle, they are going but their doing it on their terms.

Ashdown1 · May 9, 2013

Tonylinc said:
Can somebody please explain to me why these cretins are still clinging to power over CCFC? They are hated by most fans (and must know this), they have not one iota of an idea how to move the club forward and as a result will simply end up losing more money. Their judicial review will get nowhere. Please help me understand their mindset here!

Because obviously they are not losing anywhere near as much money as they like people to believe. They are using the club to take huge management charges from and offset profits gained in other ventures for tax purposes ! Also it still gives them an outside chance of acquiring a good slice of CV6 on the cheap !!

psgm1 · May 9, 2013

quinn1971 said:
Nothing.They said the new rent offer was acceptable but without the matchday revenue there was no point in accepting it.But they're quite happy to move out of coventry where they will still have to pay rent ( not as much as the RICOH) and they wont get a penny of the match day revenue.But its never been about the fact they can't afford the rent.They've always said they have to own the ground to make the club run.Not going to happen.

Are you absolutely sure the rent will be lower? Any club crazy to accept sisu must realise they have extremely limited places they could actually go, and they for sure know what they are paying!

Also whose to say any club that would allow a ground share would be willing to give up F&D concessions? After all wont they themselves be losing out and no team is going to jeopardise their own teams financial input just to allow a hedge fund to avoid paying rent!

But its all academic, as it just isn't practical for ccfc to go anywhere else but the ricoh. And I'm sure the council / ACL know this - and sisu as well!

Samo · May 9, 2013

Grendel said:
What's councelling? Surely you mean councilling - I think the clubs had enough of that though - don't you?

Are you being deliberately obtuse?

Bill Glazier · May 9, 2013

Anyone know when the league will want to be sure we have somewhere to play? It must be well before the fixture list is published. Sisu might be waiting til just before then - brinkmanship to screw the best deal from ACL pk4 the council, the fans. Hedge fund tactics in other words.

wingy · May 9, 2013

Bill Glazier said:
Anyone know when the league will want to be sure we have somewhere to play? It must be well before the fixture list is published. Sisu might be waiting til just before then - brinkmanship to screw the best deal from ACL pk4 the council, the fans. Hedge fund tactics in other words.

Begining of June I think ,along with a financial satisfaction that the league have confidence we complete the season.:thinking about:

rupert_bear · May 9, 2013

We will not be playing anywhere other than the Ricoh Arena. For some reason Tim Fisher trots out this moving ground story deliberately teasing the supporters. It won't happen.

psgm1 · May 9, 2013

Agree Rupert. Whether you like the stadium or no it IS the home of the sky blues. I am pretty confident that if by some miracle city had a good promotion chasing side, then life will return to the soul-less ricoh!

I doubt it will be the coming season, but would LOVE to be proven wrong and we get either automatic (ideal) or play-off's. Sometimes long shots DO come in!

Mucca Mad Boys · May 10, 2013

Bluegloucester said:
You need to read the accounts, it is not debt from other ventures.

So how else could 60m debt pile up out of nowhere?

It seems obvious to me that SISU have just moved their debt around and if they're leaving soon, why not not burden CCFC with the debt? As I said, intelligent from them, like the Glaziers and Abramovic have done for their clubs (accept they've put hundreds of millions in). - is it a bad thing to do? Yes, but it's not a SISU unique thing to do, it happens too often in football.

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