Not really. They bought ccfc and all of it's existing contracts. Should they have renegotiated every contract ccfc had in place before buying the club?, utility bills, transport, academy at the Higgs, ict support, kit suppliers, etc?
I agree it should have been one of the first things they should have done when they took over, along with slashing an unaffordable wage bill, but I don't see how or why they would be renegotiating contracts prior to buying the club. ACL wouldn't even acknowledge Otium in the administration process because that's not where the contract was.
You are trying to convince me that hard headed people like sisu would buy a business and all of it's legally binding contracts without completing due diligence.A blind man on a galloping horse could see that paying £1.2m rent,and not
getting any of the match day revenues because previous owners had sold them off, would mean the Club was never going to be viable.If knowing these facts you still go ahead and buy then the buck stops solely with you and your own
incompetance.
Whichever way you try to spin it,sisu have made an almighty mess of running CCFC and are now frantically looking
for way's to cut their losses and scarper. The quicker the better.
Oh and otium did not exist when sisu bought CCFC.
Due diligence is due diligence, but I still don't see how they could renegotiate a contract that had nothing to do with them.
Their incompetency is not dealing with it as soon as they competed takeover.
They have made a mess of it, but aside from the PR/fan relations no more of a mess than those here before them.
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
ACL called in the liquidator.
And most of them are part of the reason we're in this crap now. We signed too many players we couldn't afford in wages we couldn't afford with money we didn't have.
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
I think you're over egging their worth. By your first suggestion we should have paid £1-1.4m for Leon last season...
It's like the danny fox £1.5m scenario.
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
I think you're over egging their worth. By your first suggestion we should have paid £1-1.4m for Leon last season...
It's like the danny fox £1.5m scenario.
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
You can only appoint the preferred administrator if you put the club into "admin" yourself and as SISU put their administrator in charge, they are the ones who put us in admin and then liquidation. If the council had put us in admin and put their administrator in charge the outcome would have been different.ACL would have agreed the CVA if two conditions were agreed. So when you say they wanted the truth that would be a very odd condition wouldn't it?
It's common proticol to appoint the preferred administrator. That had nothing to do with liquidation that was down 100% to ACL and bear in mind Higgs accepted the CVA.
As you say fisher claimed the club may have to be liquidated and ACL to protect themselves raised a court order - odd then they ultimately liquidated the club.
Why you need to create your own stories around the facts I'm not sure.
No but the cunts have damaged it beyond repair.
Drop dead Seppalla and fisher.
Delete this nick you fucking arse lickert
I think as long as it is only fringe players and Christie I don't have a problem with selling provided players are brought in to bulk up the squad.
Please explain the Danny fox scenario?
Fans quote a news article saying he left for £1.5m meaning we got a big profit for him, when he in fact left for a mere £700k giving us a £225k profit after paying Walsall their 25% sell on fee (as shown by leaked official documents).
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
So will undervalued him as well as many others?
Coventry City Council are here to protect us as a community, instead, their greed has lost one thing that unites us all and cost me and my daughter our favourite activity to do together.
Coventry City Council are meant to protect the interests of the people, not their own.
So the 10,000 fans of CCFC, a lot that actually don't live in Coventry, take priority over the 330,000 Coventry rate payers?
Shows your bias.
So the 10,000 fans of CCFC, a lot that actually don't live in Coventry, take priority over the 330,000 Coventry rate payers?
Shows your bias.
The population is 316k, and not all are rate payers. And if you believe there is only 10k ccfc fans I don't know why you have a problem with a 12k stadium......
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
The population is 316k, and not all are rate payers. And if you believe there is only 10k ccfc fans I don't know why you have a problem with a 12k stadium......
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
CCFC fans don't all live in Coventry, or indeed were born in Coventry. Me for 1.
Just to add, the problem with a 12K stadium is that it shows the owners ambition for the club. i doubt it matches any fans whether they be in the 10K average gate of last season or any that have been staying away long before the move, remember when SISU took over the average gates were around 20K so 12K is never going to mean they are interested in rebuilding the club.
CCFC fans don't all live in Coventry, or indeed were born in Coventry. Me for 1.
Just to add, the problem with a 12K stadium is that it shows the owners ambition for the club. i doubt it matches any fans whether they be in the 10K average gate of last season or any that have been staying away long before the move, remember when SISU took over the average gates were around 20K so 12K is never going to mean they are interested in rebuilding the club.
I never said they did. In fact I have been quite vocal on this, when everyone's banging on about cov residents having no team, etc.
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
I never said they did. In fact I have been quite vocal on this, when everyone's banging on about cov residents having no team, etc.
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
Simple fact is though Coventry Council are there to only act upon the wishes of those within the city.
What some city fan in Rugby thinks is irrelevant.
Those outside the city have no right to pressure/persuade the council either way.
The council should and will only do what is right for the people of Coventry. Not for city fans spread across Warwickshire.
No, that was his value, that's what someone was prepared to pay. Fans base their valuations on the handful of 'big' signings where their fees get released the vast majority are undisclosed so papers just speculate.
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
Was jukes transfer fee ever confirmed?
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
Simple fact is though Coventry Council are there to only act upon the wishes of those within the city.
What some city fan in Rugby thinks is irrelevant.
Those outside the city have no right to pressure/persuade the council either way.
The council should and will only do what is right for the people of Coventry. Not for city fans spread across Warwickshire.
Ofcourse they will but people are presuming that not selling the Ricoh is more important to the people of Coventry than CCFC playing in Coventry - we don't know what the short, medium or long term economic and commercial/tourism benefits are. We're also guessing what market value is. No one knows.
Les Reid's suggestion of a local economic impact survey is a good one, as is getting a couple of valuations done on the Ricoh.
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
Ofcourse they will but people are presuming that not selling the Ricoh is more important to the people of Coventry than CCFC playing in Coventry - we don't know what the short, medium or long term economic and commercial/tourism benefits are. We're also guessing what market value is. No one knows.
Les Reid's suggestion of a local economic impact survey is a good one, as is getting a couple of valuations done on the Ricoh.
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
Talking of Les is he still around?
Probably not SISU do not tend to give us facts.
I think it was speculated at 700-750k
It was probably less.
In theory though for me it was minus 4 million
Due diligence is due diligence, but I still don't see how they could renegotiate a contract that had nothing to do with them.
Their incompetency is not dealing with it as soon as they competed takeover.
They have made a mess of it, but aside from the PR/fan relations no more of a mess than those here before them.
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
Okay. Lets deal with this. When a company buys a business, the due diligence element is when they scrutinise the totality of the transaction as thereafter all responsibilities fall on the new owners. Be that assets, liabilities, incomes and contracts - either those that bring cash into the business, or those such as the Ricoh rent. You cannot disassociate the new owners from the contracts of the old; unless they are expressly renegotiated or nullified by negotiation during the takeover.
To complete due diligence and claim thereafter that a business who's model hasn't changed is untenable seems to me unforgivable. And please don't cite relegation, as we were closer to the drop zone than promotion at the time of purchase, and this possibility should have been factored into the due diligence process.
Now, also bear in mind the trouble the previous administration had got the club into; with the stadium effectively sold and then long leased out to a limited company; who in turn contracted out revenue streams to companies such as Kompass, you can see how critical the timing of SISUs take over was. It is often said they saved us fromadministration, but from a business perspective, we needed administration to break the mould of a model that wasn't working.
Instead, five years down the line, and we're much, much worse off; and to make good that which should have been made good five years ago, they're using a jack hammer to crack a nut; and are playing with the very existence of our club to do so
Does it really matter? At the end of the day sisu have sold or let every decent players contracts run down since they've been here.
If they went for less than people thought then doesn't that just show how pathetically inept sisu are?
Even if some of them warm the bench for certain teams then so what,theyve gone on to bigger and better things when all we're left with is a midtable 3rd division team playing in another town all because sisu sell sell sell.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?