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Wasps going into admin & the impact on CCFC (10 Viewers)

  • Thread starter Alkhen
  • Start date Sep 21, 2022
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BackRoomRummermill

Well-Known Member
  • Nov 6, 2022
  • #10,466
This reminds me of the ACL thread back in the day. Remember those who supported the ACL stance and that ' the Ricoh could survive on hosting events like the midland carp festival and mystic sally '
 

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T

Travs

Well-Known Member
  • Nov 6, 2022
  • #10,467
shmmeee said:
For me the last two windows have been markedly different from the ones before. All we needed was Jan/Summer windows like the last few years: a couple of loans in Jan, slowly improving the quality of the squad in the summer. Neither happened.
Click to expand...

They can't win though...

People were going mental on here at the very prospect of O'Hare or Gyokores leaving.

Then when we had the difficulties at the start of the season with the pitch/stadium, it was all their fault for not offloading a player for £6-10m
 
Reactions: Astute, Perryccfc, Sky Blue Pete and 1 other person
S

steve cooper

Well-Known Member
  • Nov 6, 2022
  • #10,468
hill83 said:
3 offside goals as well wasn’t it. Beautiful.
Click to expand...
Just gone back and looked at the full game. The only one of our goals where there could have been a case for offside is our 3rd, where McNulty who played the ball to Max looks fractionally offside.
Our 1st goal, again McNulty was in an offside position but not interfering.
 

shmmeee

Well-Known Member
  • Nov 6, 2022
  • #10,469
Travs said:
They can't win though...

People were going mental on here at the very prospect of O'Hare or Gyokores leaving.

Then when we had the difficulties at the start of the season with the pitch/stadium, it was all their fault for not offloading a player for £6-10m
Click to expand...

Who was?

All the sensible posters on here were saying we needed to sell this window.

This constant portrayal of fans who aren’t happy as some unrealistic morons who want us to spunk cash we don’t have is frankly insulting.

Most fans are bought into the idea of buying low selling high and incremental improvement. But the last two windows that’s not what’s happened. We’ve undersold at the last minute and failed to bring in the bare minimum needed for the squad.
 
Reactions: MAFF, Sky Blue Pete, clint van damme and 1 other person
D

Deleted member 5849

Guest
  • Nov 6, 2022
  • #10,470
The Philosopher said:
Aucune idée
Click to expand...
The day you actually work out what people are saying, and stop ascribing meanings to them that suit your one-man crusade to smash the system is the day you're entitled to behave like a spoiled infant who thinks the world is against him.
 

oldskyblue58

CCFC Finance Director
  • Nov 6, 2022
  • #10,471
Sell 51% and the proceeds go first to sbs&l technically as that is who owns 90.1% of otium ordinary shares. But

The funds, due to the ARVO charge over the otium shares, would have to be applied to the high interest rate loans due to them. From what we can calculate that is now sitting at around 30m.

The problem with that is that means sbs&l is making a loan to otium, which most likely means a new loan at high interest rate and probably secured on all otium assets

Anyone therfore investing at 51% would be investing in a debt laden company no different to how it looks now. Just moving from one sisu entity to another.

Sell a player and it would require sisu permission to leave any of the funds in otium hardly 51% control for the investors
 

TomRad85

Well-Known Member
  • Nov 6, 2022
  • #10,472
steve cooper said:
Just gone back and looked at the full game. The only one of our goals where there could have been a case for offside is our 3rd, where McNulty who played the ball to Max looks fractionally offside.
Our 1st goal, again McNulty was in an offside position but not interfering.
Click to expand...
From what I remember Forte wasn't offside when he headed in to make it 2-2, then there was a case for the goal that made it 3-1 to us being offside. We hammered them for most the game really but those were big moments. Also seem to recall the pen in the first leg being soft.

Sent from my SM-G973F using Tapatalk
 
Reactions: Sick Boy

The Philosopher

Well-Known Member
  • Nov 6, 2022
  • #10,473
shmmeee said:
Who was?

All the sensible posters on here were saying we needed to sell this window.

This constant portrayal of fans who aren’t happy as some unrealistic morons who want us to spunk cash we don’t have is frankly insulting.

Most fans are bought into the idea of buying low selling high and incremental improvement. But the last two windows that’s not what’s happened. We’ve undersold at the last minute and failed to bring in the bare minimum needed for the squad.
Click to expand...
Spot on. The problem was we couldn’t get some players off the payroll that we’d hoped. Walker, Waghorn and Hilssner cost us (according to some) 28k per week (£1.5m per year with extras).

Dom went for £1.4.
 
B

Brighton Sky Blue

Well-Known Member
  • Nov 6, 2022
  • #10,474
The Philosopher said:
Spot on. The problem was we couldn’t get some players off the payroll that we’d hoped. Walker, Waghorn and Hilssner cost us (according to some) 28k per week (£1.5m per year with extras).

Dom went for £1.4.
Click to expand...

Hyam went because of cash flow, not budget deficit.
 

oldskyblue58

CCFC Finance Director
  • Nov 6, 2022
  • #10,475
No one is saying that sisu want to sell at 20m. Just about everyone is saying they won't get offered what they want or need.

What that means is that we are stuck with them for the foreseeable future. Unless Ashley can twist sisu's arm once he owns the stadium. He won't make a move on that though until he has control of the stadium first.

I expect ACL to be out of administration by the end of this month but certainly before Xmas
 
Reactions: EalingSB, shmmeee and clint van damme

The Philosopher

Well-Known Member
  • Nov 6, 2022
  • #10,476
oldskyblue58 said:
Sell 51% and the proceeds go first to sbs&l technically as that is who owns 90.1% of otium ordinary shares. But

The funds, due to the ARVO charge over the otium shares, would have to be applied to the high interest rate loans due to them. From what we can calculate that is now sitting at around 30m.

The problem with that is that means sbs&l is making a loan to otium, which most likely means a new loan at high interest rate and probably secured on all otium assets

Anyone therfore investing at 51% would be investing in a debt laden company no different to how it looks now. Just moving from one sisu entity to another.

Sell a player and it would require sisu permission to leave any of the funds in otium hardly 51% control for the investors
Click to expand...
All of these things are easily overcome if both sides agree a framework - as you well know.

Not sure your point gets us anywhere other than highlighting the technical set up.
 

The Philosopher

Well-Known Member
  • Nov 6, 2022
  • #10,477
Brighton Sky Blue said:
Hyam went because of cash flow, not budget deficit.
Click to expand...
As I’ve said before, yes.

Not saying he didn’t

But I’m sure it CCFC has said to SISU “got the bills down by 1.5m. Here’s the cash flow forecast, can you bridge the pitch money” they might have had some success.
 

The Philosopher

Well-Known Member
  • Nov 6, 2022
  • #10,478
oldskyblue58 said:
No one is saying that sisu want to sell at 20m. Just about everyone is saying they won't get offered what they want or need.

What that means is that we are stuck with them for the foreseeable future. Unless Ashley can twist sisu's arm once he owns the stadium. He won't make a move on that though until he has control of the stadium first.

I expect ACL to be out of administration by the end of this month but certainly before Xmas
Click to expand...
And what do you think they want or need?
 
B

Brighton Sky Blue

Well-Known Member
  • Nov 6, 2022
  • #10,479
oldskyblue58 said:
No one is saying that sisu want to sell at 20m. Just about everyone is saying they won't get offered what they want or need.

What that means is that we are stuck with them for the foreseeable future. Unless Ashley can twist sisu's arm once he owns the stadium. He won't make a move on that though until he has control of the stadium first.

I expect ACL to be out of administration by the end of this month but certainly before Xmas
Click to expand...

Completely just a feeling but he’s getting near 60 now. Judging by what he offered Derby and wanting something of a pet project I’m not sure he’ll hang around for long before making a move for the club.
 
B

Brighton Sky Blue

Well-Known Member
  • Nov 6, 2022
  • #10,480
The Philosopher said:
As I’ve said before, yes.

Not saying he did.

But I’m sure it CCFC has said to SISU “got the bills down by 1.5m. Here’s the cash flow forecast, can you bridge the pitch money” they might have had some success.
Click to expand...

What?
 

The Philosopher

Well-Known Member
  • Nov 6, 2022
  • #10,481
Deleted member 5849 said:
The day you actually work out what people are saying, and stop ascribing meanings to them that suit your one-man crusade to smash the system is the day you're entitled to behave like a spoiled infant who thinks the world is against him.
Click to expand...
You in ‘Spoons right now?
 

oldskyblue58

CCFC Finance Director
  • Nov 6, 2022
  • #10,482
The Philosopher said:
All of these things are easily overcome if both sides agree a framework - as you well know.

Not sure your point gets us anywhere other than highlighting the technical set up.
Click to expand...

I will keep it simple for you.

Having received 30m it means sisu entities will still be owed 60m just that all the debt will be sitting in sbs&l
 

The Philosopher

Well-Known Member
  • Nov 6, 2022
  • #10,483
Brighton Sky Blue said:
What?
Click to expand...


SISU have to draw a line either because they couldn’t or wouldn’t fund the cash deficit caused by the pitch and delayed fixtures.

Much easier to borrow money if you can show you are prudent. This applies to all walks of life.

Waghorn etc still on the books with no transfer value wouldn’t show the investors (SISU)…..

anyway.

CBA
 

The Philosopher

Well-Known Member
  • Nov 6, 2022
  • #10,484
oldskyblue58 said:
I will keep it simple for you.

Having received 30m it means sisu entities will still be owed 60m just that all the debt will be sitting in sbs&l
Click to expand...
Thank you for your clarity.

If SISU receive £30m it is well within their gift to move their debt around to show in whichever fund or entity that the Arvo master fund (or whatever) holds controlling stake in a venture that has a 49% stake in an entity which yields x% per annum and can be settled for £30m at a time to be agreed.

Unless I’m mistaken, the funds and companies involved all have SISU as the vehicle of ultimate control.

Tell me it’s not possible, without the phrase “it’s not easy”

It’s an asset swap. It’s not particularly difficult.
 
Last edited: Nov 6, 2022
W

wingy

Well-Known Member
  • Nov 6, 2022
  • #10,485
The Philosopher said:
Thank you for your clarity.

If SISU receive £30m it is well within their gift to move their debt around to show in the Arvo master fund (or whatever) holds controlling stake in a venture that has a 49% stake in an entity which yields x% per annum and can be settled for £30m at a time to be agreed.

Tell me it’s not possible, without the phrase “it’s not easy”

It’s an asset swap. It’s not particularly difficult.
Click to expand...
And if this is the case is it what the co-sponsers for the stadium purchase would have expected, wanted or accepted?
 

oldskyblue58

CCFC Finance Director
  • Nov 6, 2022
  • #10,486
wingy said:
And if this is the case is it what the co-sponsers for the stadium purchase would have expected, wanted or accepted?
Click to expand...

I wouldn't recommend such a deal but who knows.
 

usskyblue

Well-Known Member
  • Nov 6, 2022
  • #10,487
Kinell

 
Reactions: Skyblueweeman and wingy

The Philosopher

Well-Known Member
  • Nov 6, 2022
  • #10,488
wingy said:
And if this is the case is it what the co-sponsers for the stadium purchase would have expected, wanted or accepted?
Click to expand...
I’ve no idea.

It just seemed to me to be a logical solution in line with what their accounts seem to show and snippets from plausible ITKs.

Lots on here are suggesting alternate scenarios (SISU prefer relegation because it suits their model) being my comedy fave.

I like the strategy and to try to understand the moving parts of it all.
 
D

Deleted member 5849

Guest
  • Nov 6, 2022
  • #10,489
The Philosopher said:
Lots on here are suggesting alternate scenarios (SISU prefer relegation because it suits their model) being my comedy fave.
Click to expand...
You really must go to Specsavers
 
W

wingy

Well-Known Member
  • Nov 6, 2022
  • #10,490
oldskyblue58 said:
I wouldn't recommend such a deal but who knows.
Click to expand...
Well this is where their hand has been shown as to what's acceptable.IMO
 
H

HuckerbyDublinWhelan

Well-Known Member
  • Nov 6, 2022
  • #10,491
The Philosopher said:
Lots on here are suggesting alternate scenarios (SISU prefer relegation because it suits their model) being my comedy fave.
Click to expand...
Nobody has said this…. Best way to describe it is - we have a model that works in league one or two. They have no intention of deviating from that model in the Championship regardless of the consequences
 

Perryccfc

Well-Known Member
  • Nov 6, 2022
  • #10,492
Still painful.
 
T

Travs

Well-Known Member
  • Nov 6, 2022
  • #10,493
shmmeee said:
Who was?

All the sensible posters on here were saying we needed to sell this window.

This constant portrayal of fans who aren’t happy as some unrealistic morons who want us to spunk cash we don’t have is frankly insulting.

Most fans are bought into the idea of buying low selling high and incremental improvement. But the last two windows that’s not what’s happened. We’ve undersold at the last minute and failed to bring in the bare minimum needed for the squad.
Click to expand...

If you think this place wasn't absolutely apoplectic at the thought of O'Hare going to Burnley, particularly after the "bigger club" comments, you're trying to re-write history.

And if you think people will be behind a potential sale of Gyokeres in January you're equally in dreamland (incidentally i also think it would be a disaster for the club)
 

Colin Steins Smile

Well-Known Member
  • Nov 6, 2022
  • #10,494
SISU are in a fix. The reported figures that will be part of an investment portfolio in CCFC is higher than I feel can be realised. This is partly due to the very high rate of interest that SISU charge.

As others have constantly stated on here the actual amount SISU has externally invested into CCFC since 2012 is minimal. The question for SISU is whether they are prepared to show a balance sheet loss on CCFC? That would require a bit of explaining to their investors, which I doubt they'll be in a hurry to do.

Now is the obvious time for them to sell, but I think SISU are seriously compromised having not secured the arena. Their strategy has failed.
 
Reactions: Astute, RegTheDonk and clint van damme

shmmeee

Well-Known Member
  • Nov 6, 2022
  • #10,495
Travs said:
If you think this place wasn't absolutely apoplectic at the thought of O'Hare going to Burnley, particularly after the "bigger club" comments, you're trying to re-write history.

And if you think people will be behind a potential sale of Gyokeres in January you're equally in dreamland (incidentally i also think it would be a disaster for the club)
Click to expand...

I don’t think I’m the one trying to rewrite history here. People may not have wanted to lose players but everyone knows that’s our model and as long as the squad kept moving forwards people would accept it.
 
Reactions: Sky Blue Pete

Briles

Well-Known Member
  • Nov 6, 2022
  • #10,496
Something I've noticed on this forum, and in football in general, the word "investment" means different things to different people
 
Reactions: Colin Steins Smile, Astute, KAB and 6 others

fernandopartridge

Well-Known Member
  • Nov 6, 2022
  • #10,497
The Philosopher said:
The league is irrelevant?

They want PL money - anyone that thinks they don’t has no grasp of reality.

L1 is further away from the PL

I’ll say it again:

Clueless
Click to expand...
If they wanted pl money they've got a very funny way of going about it
 
Reactions: Sick Boy and Deleted member 5849

Grendel

Well-Known Member
  • Nov 6, 2022
  • #10,498
The Philosopher said:
I’ve no idea.
Click to expand...

At last a moment of self realisation
 
Reactions: skybluepm2, GaryMabbuttsLeftKnee, Sick Boy and 8 others

The Philosopher

Well-Known Member
  • Nov 6, 2022
  • #10,499
Grendel said:
At last a moment of self realisation
Click to expand...
Who put 10p in you?
 

The Philosopher

Well-Known Member
  • Nov 6, 2022
  • #10,500
Grendel said:
In the first championship season they had a relatively low wage structure and had cash flow funding via the EFL loan and transfer sales netting £1.7 million
Click to expand...
Clueless
 
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