stever6000
New Member
Does anyone know who SISU really are? Who are their investors? Do they know what's going on now? Would anyone trust their investment with them?
I always understood that a hedge fund would attempt to pick up a failing business, turn it round and sell it for a profit in a short space of time. Yet now, SISU are telling us that they are to build a new ground (for which there appear to be no plans, no site and no planning permission) during the next 3-5 years. That is going to cost money and during that time, where is their income stream? They certainly won't get much income playing at Northampton, probably quite the opposite. Neither will they be able to afford squad improvements; even if they could, what player would want to sign for us. Perhaps someone from SISU could tell us; what is Otium's business plan for the next 5 years. This surely is what the Football League should be asking.
However, not all of the blame can be thrown at them. It wasn't so long back that they were our saviours, but it is painfully obvious they did not know what they were getting into and had no idea of what a football club was all about. Even at this stage, many of us were querying a £1.2m rent with no peripheral income coming in from the stadium. Was this down to the greed of ACL or the council, because they should have known that eventually the arrangement wasn't going to work unless there was at least partial ownership of the stadium with SISU. I just cannot believe that a supposedly professional outfit such as SISU could have assessed their acquisition without at least a promise of stadium sharing.
Wouldn't this make a good case for an investigative journalist, better still Panorama or even Rogue Traders!!!!!!! I wonder what else they would find if they delve back into the clubs historysince the sale of Highfield Road.
Another question if I may. I think I know the difference between administration and liquidation, but both appear to have the same ending. Had the closure been voluntary, then ACL (Cov Council) would have received circa £0.4m, but supposedly not been allowed to dig deeper into the account. Instead, the company has been liquidated and in some respects it has cost the ratepayers of Coventry. If ACL have suspected foul play, surely they can have that investigated anyway.
At the end of the day, this is what big business is about; get into trouble, get your debts wiped out and form another company.
I always understood that a hedge fund would attempt to pick up a failing business, turn it round and sell it for a profit in a short space of time. Yet now, SISU are telling us that they are to build a new ground (for which there appear to be no plans, no site and no planning permission) during the next 3-5 years. That is going to cost money and during that time, where is their income stream? They certainly won't get much income playing at Northampton, probably quite the opposite. Neither will they be able to afford squad improvements; even if they could, what player would want to sign for us. Perhaps someone from SISU could tell us; what is Otium's business plan for the next 5 years. This surely is what the Football League should be asking.
However, not all of the blame can be thrown at them. It wasn't so long back that they were our saviours, but it is painfully obvious they did not know what they were getting into and had no idea of what a football club was all about. Even at this stage, many of us were querying a £1.2m rent with no peripheral income coming in from the stadium. Was this down to the greed of ACL or the council, because they should have known that eventually the arrangement wasn't going to work unless there was at least partial ownership of the stadium with SISU. I just cannot believe that a supposedly professional outfit such as SISU could have assessed their acquisition without at least a promise of stadium sharing.
Wouldn't this make a good case for an investigative journalist, better still Panorama or even Rogue Traders!!!!!!! I wonder what else they would find if they delve back into the clubs historysince the sale of Highfield Road.
Another question if I may. I think I know the difference between administration and liquidation, but both appear to have the same ending. Had the closure been voluntary, then ACL (Cov Council) would have received circa £0.4m, but supposedly not been allowed to dig deeper into the account. Instead, the company has been liquidated and in some respects it has cost the ratepayers of Coventry. If ACL have suspected foul play, surely they can have that investigated anyway.
At the end of the day, this is what big business is about; get into trouble, get your debts wiped out and form another company.