Tim Fisher's interview (3 Viewers)

[Godiva]

Thanks Wingy.

I would not even dare to whisper to myself: 'I can't see the original £8m sisu took over in the figures you quote'.

- Just to be clear the £52m debt in CCFC accounts to 2011 is not the relevant figure....the relevant debt is the £29.7m owed to SISU by the whole group of companies plus the £2m to ARVO. The debt shown in the CCFC accounts includes losses pre SISU that SISU wrote down when they bought in. It is just a quirk in group accounts that they could adjust if they wanted to. What SISU have funded is Group losses to 31/05/11 £21m plus the debt they took over £8m plus any losses or funding requirement since then (after accounting for Prozone sale, money from the likes of Dann, Gunnarrson etc, not paying the rent and reducing the escrow account, less the costs of Waggott and/or other specialists)

Whoa! I win the teddy bear!

 

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[oldskyblue58]

as far as i can see you both win Godiva

the 21m that wingy was quoting was the losses since SISU took over

the £29m is the total of monies put into the Group to fund losses plus original investment

Gold star to both as far as i am concerned

 

[skyblueman]

and I thought I'd got my head round this!!! Lets just agree that as long as it's in double figure and has an 'M' after it it means it's a big scary number

 

[Godiva]

and I thought I'd got my head round this!!! Lets just agree that as long as it's in double figure and has an 'M' after it it means it's a big scary number

Any negative number with a 'm' after it is big and scary!

 

[wingy]

as far as i can see you both win Godiva

the 21m that wingy was quoting was the losses since SISU took over

the £29m is the total of monies put into the Group to fund losses plus original investment

Gold star to both as far as i am concerned

Have been wondering about this write off of £8-£9M. in the recent accounts,just about represents the original investment .Does it tie into the timelines of ,Sconset ,Otium,the seperating out of funds TF referred to .Is it a start on the road to readying a sale?Could it represent the holding of a significant individuals/funds investment?
One question for OSB or anyone able to answer,Can they get a mortgage on RYTON this year while the charge is on the club ,personally don't think so but just for clarification.

 

[Godiva]

Have been wondering about this write off of £8-£9M. in the recent accounts,just about represents the original investment .Does it tie into the timelines of ,Sconset ,Otium,the seperating out of funds TF referred to .Is it a start on the road to readying a sale?Could it represent the holding of a significant individuals/funds investment?
One question for OSB or anyone able to answer,Can they get a mortgage on RYTON this year while the charge is on the club ,personally don't think so but just for clarification.

I don't think they have written off the £8m - I think you misunderstood OSB. He says the £21m of the loans were to cover for operational losses, while the £8m was to 'buy' the club. The total loan is £29m ... and as you (and OSB) have said: A long way from £54m.

 

[oldskyblue58]

in theory wingy you could take out a second charge on the assets yes but with the ARVO debt probably bigger than the value of the assets then it is very unlikely that any lender would do so.

 

[thegameaintstraight]

Notwithstanding osb's best efforts I still struggle to get my head round this.

However, if I owed you a tenner and didn't pay, I'm im trouble, if I owed you £52m and ditto, you're in trouble.