Solid foundations (1 Viewer)

[OyJimmy]

I thought that the whole point of Sisu buying CCFC was to provide CCFC with solid foundations so that we could move forward. It strikes me that our finances are in a mess again and that the only thing we have going for us is our league status and young players. At this point we face selling players like Connor Thomas to financially stronger clubs because of SISU inability to manage this fund properly.

To try and secure stronger foundations we may as well take admin now if necessary. Yes we could lose our best young players but so what? Sisu will sell them to provide for their investors anyway! We are in big trouble as a football club but I have feeling that we are now a good source of profit for Sisu.

 

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[Astute]

They are not providing for their investors. We have not made a profit for a major amount of years now. Their investors are now putting less into our club. They are now just putting enough in to keep us going.

We have always sold our players. The only problem is we are not replacing them as quick as they are leaving.

 

[singers_pore]

Name me a club in our league that is not losing millions every year?

When Ranson took over he said the club would lose money if and until they reach the Prem. I see no reason to believe he was wrong then or wrong now.

The only place that SISU is taking us is League 1 and then perhaps League 2. And I bet we don't even break even in those leagues, not with the rental we have to pay to ACL for the stadium.

 

[OyJimmy]

They are not providing for their investors. We have not made a profit for a major amount of years now. Their investors are now putting less into our club. They are now just putting enough in to keep us going.

We have always sold our players. The only problem is we are not replacing them as quick as they are leaving.

Really so Sisu don't charge interest on loans to CCFC? Could be a tidy little earner for them!

 

[oldskyblue58]

Really so Sisu don't charge interest on loans to CCFC? Could be a tidy little earner for them!

no they dont. Only ones that have recieved interest on loans are RR and the third party financiers for training ground mortgage and ticket sales

 

[wingy]

Don't think its the rent thats the killer though it can't help ,its the income from matchday side revenues thats the killer

 

[TommyAtkins]

"I thought that the whole point of Sisu buying CCFC was to provide CCFC with solid foundations so that we could move forward."

No. SISU bought into CCFC to make a profit for their investors.

Sadly, due to some poor managerial appointments and even worse signings, it became clear that SISU lost faith in Ranson's plan. And who can blame them?

The real damage to this club was done by Richardson and Robinson. What we are seeing now are the consequences of their mismanagement.

All critics of SISU have to offer is: spend more money on players.

And whilst that might appeal to people, it doesn't offer guaranteed success nor will it guarantee the long term survival of our club.

Unfortunately, if we don't spend, we will be relegated and suffer another loss of income.

 

[Grendel]

I said at the time we should never have gone in with SISU and instead took administration. Clubs have recovered - truth is we should have done it when there was no points penalty.
Ransom wanted a football club and he had a link with SISU through his ownership of Prozone. He tried Man City (!), Derby, Southampton and when they rejected him we were the final option. With no ground and a poor fanbase it was always a disaster waiting to happen. This was made worse with Ranson's inability to appoint a decent manager - his quote that he could have appointed Neil Warnock who may have got us promoted but did not fit his idyll as a maneger says it all.
SISU feel cheated and are out of their depth. The chairman is a SISU cohort who did all he could when at Southampton to get SISU in. They saw the light and kicked him out.
There is no hope. I cannot blame Robinson though. He waived £19 million of personal investment to let SISU in and it is a pity SISU cannot do the same.

 

[TommyAtkins]

At that time, administration carried with it the highly likely risk of liquidation. We were a club in debt with no stadium of our own and with declining attendances - therefore, we were a very unattractive purchase for any buyer. Had we gone into administration, players would have been sold, we would have been relegated to League One and remained without a stadium. There was a real chance that we would have gone out of business.

Things have improved slightly since then but there is no guarantee about administration. Far too many fans assume, based on other clubs' experiences, that a buyer will be found. They forget that an administrator might ignore a potential buyer if the administrator judges that the club is not a sound proposition.

Robinson - along with Richardson - is entirely to blame. Both of them drove this club into the ground and Robinson walked away, having made a tidy profit over the entire period he was involved with CCFC

 

[Grendel]

We would never have gone into liquidation. Football history shows only 4 clubs ever have ceased to exist in the last 50 years. Leicester, Norwich, Southampton, Leeds have all took the pill and rebuilt.

Many clubs do not own their own ground.

Since SISU ownership fan base has declined by a further 40% and we are in a sad and sorry state.