So CCFC are paying ARVO £1.8M a year in interest (1 Viewer)

[Snozz_is_god]

can someone with a bit more financial nous explain this to me?

So is this real money being payed to Arvo?

Where's it coming from, could it be anywhere they can get it, like Leon Clarke or Arsenal game or dare I say it the sixfield/SISU believers?

or is the money just being loaded on to CCFC as more debt?

Is this the way SISU intend getting back there so called £40 investment?

So maybe the JR just a hopeful punt and this is this the real way SISU/ARVO intent getting back their so called £40 million investment or is it a combination of both.
So could it be that once SISU/ARVO believe they have enough money, they'll sell off Ryton then liquidate the football club and it's debt and walk of into the sunshine never to be seen again.
So while this is happening the football club merely has to tick over, relegation would mean lower outgoings so could that be desirable, promotion is a no go?
So could it be a 5 year game they are playing, with one year gone, remember all they have to do is dupe the Football League, run a football club for as little as they can and entice the Sixfields/SISU believers for a few years.

 

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[Astute]

I would guess that we are 7 years into a 3 year plan.

We also don't know how much they have put into our club and how much of it has been added through charges like interest. Is our club having the legal bills dumped on it? Who pays our so called directors and how much or do they work for nothing?

 

[Houdi]

I would guess that we are 7 years into a 3 year plan.

We also don't know how much they have put into our club and how much of it has been added through charges like interest. Is our club having the legal bills dumped on it? Who pays our so called directors and how much or do they work for nothing?

Hopefully the directors are on performance related pay.

 

[torchomatic]

This'll make you laugh. Honestly. Richardson earned more than the Premier League chairman. Brilliant, eh? You couldn't make this sort of stuff up. Still, back on track, nothing to do with him. Yeah, how much are they earning, the bastards.

Who pays our so called directors and how much or do they work for nothing?

 

[Pubboy]

This'll make you laugh. Honestly. Richardson earned more than the Premier League chairman. Brilliant, eh? You couldn't make this sort of stuff up. Still, back on track, nothing to do with him. Yeah, how much are they earning, the bastards.

I think its a legitimate question though, dont you?
Ok, so Richardson earned a lot, and im sure others did and will do too. I think the question was more to do with trying to get some transparency regarding how much is truly being invested into CCFC, and how much is being taken out including Directors fees and salaries.

 

[dongonzalos]

I suppose we could get back to blaming Jimmy Hill again. Or maybe just focus on what's happening now

 

[torchomatic]

Yep, fair enough. I'm just trying to point out that directors get paid, it's not really anything radical.

I think its a legitimate question though, dont you?
Ok, so Richardson earned a lot, and im sure others did and will do too. I think the question was more to do with trying to get some transparency regarding how much is truly being invested into CCFC, and how much is being taken out including Directors fees and salaries.

 

[Senior Vick from Alicante]

If they were milking the club ilegally then I am sure OSB would have spotted it in his forensic analysis of the accounts. These leaches are very good at what they do, anything going out of the club in the forms of payments and wages will be completely within the law as it stands. This is why the game of football as a whole needs proper corperate governance set out in legislation. How many companys, if you just look at the premier league, with a 1.5 BILLION income from TV rights alone can be run by some one with no financial acumin or training. If you balls up in a big way and take a company to the wall out in the real world the least that happens is you cant hold a directorship, but you have the real possibility of a custodial sentance. If you look at football as a whole take Leeds, Peter Ridsdale seems to be doing alright and has been involved in several clubs since. Carson Young is still the owner at blues even though he is a convicted embezzler and its all down to the fact that people like Joe Elliott, not that Joe has done anything wrong, are allowed to take control of multi million pound businesses when they are used to running corner shops. Until football has an American style Commisioner that is independant from and not reponsible to the leagues then football will continue to have basket cases like us and the Blues. NOPM

 

[lordsummerisle]

If they were milking the club ilegally then I am sure OSB would have spotted it in his forensic analysis of the accounts. These leaches are very good at what they do, anything going out of the club in the forms of payments and wages will be completely within the law as it stands. This is why the game of football as a whole needs proper corperate governance set out in legislation. How many companys, if you just look at the premier league, with a 1.5 BILLION income from TV rights alone can be run by some one with no financial acumin or training. If you balls up in a big way and take a company to the wall out in the real world the least that happens is you cant hold a directorship, but you have the real possibility of a custodial sentance. If you look at football as a whole take Leeds, Peter Ridsdale seems to be doing alright and has been involved in several clubs since. Carson Young is still the owner at blues even though he is a convicted embezzler and its all down to the fact that people like Joe Elliott, not that Joe has done anything wrong, are allowed to take control of multi million pound businesses when they are used to running corner shops. Until football has an American style Commisioner that is independant from and not reponsible to the leagues then football will continue to have basket cases like us and the Blues. NOPM

Don't think that any interest has actually been paid on any loans to the club as yet, and only due when the club makes a profit, so not anytime soon.

I suppose that CCC are leaches too as they charge interest on their loan to ACL?

Think only been the last couple of years that interest has been *charged" anyway.

no different to when we were charged interest by Co-Op Bank before really, except they charged interest from the start.

 

[Senior Vick from Alicante]

Don't think that any interest has actually been paid on any loans to the club as yet, and only due when the club makes a profit, so not anytime soon.

I suppose that CCC are leaches too as they charge interest on their loan to ACL?

Think only been the last couple of years that interest has been *charged" anyway.

no different to when we were charged interest by Co-Op Bank before really, except they charged interest from the start.

What ACL pay the CCC is their own affair and is not really the same as the layering that is going on in our club and the structures that payments go through. Would CCC have run ACL down changed the names of or added holding companies and placed debentures on the assets of these companies before liquidating one part of their business. The answer is no because the council have to adhere to strict checks and balances on the way they run their affairs, our owners and the owners of other clubs dont. NOPM

 

[wingy]

Won't the Interest level be ZERO for last season and the coming one as any funds put In are equity ,BTW would that change the tax Status at the Club ?

Loans being tax negative by the standards of Garry Barlow,How can we make a loss If equity has to be Injected to give us FFP qualification ?

 

[Astute]

Don't think that any interest has actually been paid on any loans to the club as yet, and only due when the club makes a profit, so not anytime soon.

I suppose that CCC are leaches too as they charge interest on their loan to ACL?

Think only been the last couple of years that interest has been *charged" anyway.

no different to when we were charged interest by Co-Op Bank before really, except they charged interest from the start.

We would have two JR's if CCC didn't charge them the interest they have to pay as it would be state aid

 

[torchomatic]

Ah, the old double-standard thing then. OK for one, not for the other? I'm not saying it's right or anything, I'm just saying.

We would have two JR's if CCC didn't charge them the interest they have to pay as it would be state aid

 

[Astute]

This'll make you laugh. Honestly. Richardson earned more than the Premier League chairman. Brilliant, eh? You couldn't make this sort of stuff up. Still, back on track, nothing to do with him. Yeah, how much are they earning, the bastards.

Two reasons I said if. Didn't at least one of them say they only get paid on results? If so why not all of them. So if that IS the case how could any of them have got paid a penny since they joined?

So not just adding up where the debt is coming from but also is our club a normal case........

Just try working it out. A very small squad. About half of it academy graduates. Big payday at Arsenal. Clarke sold for £750,00 upwards it has been said as Wolves got promoted. How many millions do you think we will have lost?

 

[Astute]

Ah, the old double-standard thing then. OK for one, not for the other? I'm not saying it's right or anything, I'm just saying.

Not me doing the double standards. The SISU lot are though. JR for CCC although they own the arena and were securing their own investment. Nothing for Northampton council for the money they gave NTFC.

 

[shmmeee]

Don't think that any interest has actually been paid on any loans to the club as yet, and only due when the club makes a profit, so not anytime soon.

I suppose that CCC are leaches too as they charge interest on their loan to ACL?

Think only been the last couple of years that interest has been *charged" anyway.

no different to when we were charged interest by Co-Op Bank before really, except they charged interest from the start.

No more like loans from board members. How many of them accrued interest under previous regimes? (genuine question, I don't know the answer)

 

[Hobo]

We have had a raft of owners double dealing behind the scene going back to Jimmy Hill.

Okay that's business, but do we have to accept it?

Also SISU have been worst than most, no results, no investment(real), no viable plan, contra dictional statements, bullying tactics to back up bullshit.

This is not the club I want from a ethical perspective...no I won't accept success at any cost!

 

[lordsummerisle]

No more like loans from board members. How many of them accrued interest under previous regimes? (genuine question, I don't know the answer)

Not sure, but know that Ranson got around 26% on his "loan" to the club.

Think lots of owners "lend" money to clubs to get a far higher interest rate than they'd get elsewhere.

 

[lordsummerisle]

Not sure, but know that Ranson got around 16% on his "loan" to the club.

Think lots of owners "lend" money to clubs to get a far higher interest rate than they'd get elsewhere.

 

[James Smith]

No more like loans from board members. How many of them accrued interest under previous regimes? (genuine question, I don't know the answer)

Robinson and McGinnity had loans through trusts that were paying interest at various rates. There was also a three way unsecured interest free loan from those two plus Sir Higgs for £666,000 each. Jepson who was/is a lawyer also did some work for the club and was paid for it that year. I posted a picture or two of pages from the accounts from 2005 showing this a while back. If you do a search you'll probably find it.

For the benefit of the lawyers I am not suggesting there was anything wrong with any of the above in any size