What would you do in the councils position? (1 Viewer)

OyJimmy · Feb 16, 2013

I would issue a winding up order on CCFC. I would enforce the terms of the contract (I.e call in the debt and refuse to let CCFC leave the Ricoh). I'd wait for Sisu to fold. Buy the club off the administrator for the minimum amount. Then I'd put the combined ACL / club on the market and in doing so keep the tax payer happy.

Alternatively the council might decide to wait for CcFC to go under and then agree a deal with the administrator to sell the Ricoh at a fixed price. Both options are better for the council than Tim Fishers current proposals.

Think fans need to look at this in terms of what the council want from this as they ave the power to do the deal... Sisu don't really have a say as they are tied to a contract and have no choice but to ultimately agree to whatever the council offer them.

SkyBlueScottie · Feb 16, 2013

Big problem in my opinion, CCFC would fold first.

Sky Blue Pete · Feb 16, 2013

I would assume sisu have the money and take all legal action available to get the money. The issue comes when considering the future revenue they need from ccfc. Do they push for 1m now or numerous millions over 30 years? My considered opinion has changed and I now think that sisu are no better or worse than any owner since Derek robins

CCFCSteve · Feb 16, 2013

The winding up order would lead to liquidation. Sisu could appoint an administrator (I also think acl could go to court and appoint an administrator, unusual process for a creditor but I believe possible).

However, I'd do a deal whereby the club pays more rent but they benefits from takings, that way both might get what they want as the takings would help with the FFP rules and acl still get more cash in

Jack Griffin · Feb 16, 2013

Their current tactics are far better than that.

They're getting access to CCFC income streams directly via a court order, so SISUs tactic of withholding rent is neutralised.

OyJimmy · Feb 16, 2013

SkyBlueScottie said:
Big problem in my opinion, CCFC would fold first.

Why would Ccfc fold completely. It would only do that if Sisu decided to liquidise the assets and that would return less money to their stakeholders so they won't do it

OyJimmy · Feb 16, 2013

Jack Griffin said:
Their current tactics are far better than that.

They're getting access to CCFC income streams directly via a court order, so SISUs tactic of withholding rent is neutralised.

Didn't appreciate that. So basically there is nothing Sisu can do at the end of the day.

Sky Blue Pete · Feb 16, 2013

It's only a tactic that can remove money on a particular day as I understand it

Jack Griffin · Feb 16, 2013

OyJimmy said:
Didn't appreciate that. So basically there is nothing Sisu can do at the end of the day.

That remains to be seen, but ACL are not initiating the claw back till May, so nothing will happen this season.

It is explained here..
http://www.coventrytelegraph.net/co...-seize-coventry-city-s-income-92746-32816252/

OyJimmy · Feb 16, 2013

Jack Griffin said:
That remains to be seen, but ACL are not initiating the claw back till May, so nothing will happen this season.

It is explained here..
http://www.coventrytelegraph.net/co...-seize-coventry-city-s-income-92746-32816252/

Interesting I assume ACL want to see if CCFC get promoted before deciding what happens next

Jack Griffin · Feb 16, 2013

And SISU do too

skybluesam66 · Feb 16, 2013

in a city with shops etc closing - killing off a football team is not beneficial for anybody

imagine if we could get back to the premier league
25000 at the ricoh 25 times a season (twice as many as now)
each spending 50% more

all of a suddent that flows over into the rest of the city

87 may have been a one off, but the city's economy benefiited immensely

that is what everybody should want back

OyJimmy · Feb 17, 2013

skybluesam66 said:
in a city with shops etc closing - killing off a football team is not beneficial for anybody

imagine if we could get back to the premier league
25000 at the ricoh 25 times a season (twice as many as now)
each spending 50% more

all of a suddent that flows over into the rest of the city

87 may have been a one off, but the city's economy benefiited immensely

that is what everybody should want back

Shops are closing across the country. Why not bail them all out? Why didn't we bail Rover out? They employed thousands. Truth is its not the councils job to do that. They must act in the interests of the tax payer. So they may us well screw Sisu into the ground. As Sisu admitted they didn't get their due diligence right. Who's fault is that? The council?

SkyBlueScottie · Feb 17, 2013

OyJimmy said:
Why would Ccfc fold completely. It would only do that if Sisu decided to liquidise the assets and that would return less money to their stakeholders so they won't do it

Possible, so you are suggesting they have in fact invested money into the club? Others may not agree with you on that one.

I personally think the only losers in all of this will be the supporters, the tax payers money is safe I would suggest there is no direct tax funds entwined with the Ricoh. Sisu will have safeguards in place, and with their hardnosed attitude I would suggest the investers are will willing to lose what they put in as it probably does not amount to much for each individual.

Or there is another option, ACL take your suggestion, SISU remain in charge, the business suffers as a direct result into us not being able to put out anything near a competitive side, relegation follows the club continues on a downward spiral, in the process of this hurting ACL further as football revenues are also dropping.

hutch1972 · Feb 17, 2013

Sky Blue Pete said:
It's only a tactic that can remove money on a particular day as I understand it

Your right,and as i stated on another thread only money that was in the accounts on the day its frozen not anything after. Makes you think about exactly how long they have had this order ,did they know in advance of MR departure and compensation or were they just plain lucky !!

OyJimmy · Feb 17, 2013

I think the point is in trying to predict an outcome you need to really ask what will the council settle for? Not what will Sisu agree to. ACL are effectively in the driving seat and what we as fans should push for is a speed resolution at the end of the season so that the club can move on from all of this. If they want to issue a winding up order to force Sisu's hand then they should get on with it. We as fans simply wan to follow te club we love without all the off the field antics we have currently going on.

shropshirecov · Feb 17, 2013

Portsmouth city council gave a 1.4 million pound bridging loan to the PST in order to secure the future of their football club

Otis · Feb 17, 2013

Sky Blue Pete said:
It's only a tactic that can remove money on a particular day as I understand it

I believe it to be a Friday. Therefore if Sisu make sure they keep going to the cashpoint every Wednesday or a Thursday they'll be fine.

Jack Griffin · Feb 17, 2013

shropshirecov said:
Portsmouth city council gave a 1.4 million pound bridging loan to the PST in order to secure the future of their football club

That is 1/10th of the loan Coventry City Council arranged for ACL to secure the future of the stadium.

torchomatic · Feb 17, 2013

Go be honest, I don't think he really cares.

SkyBlueScottie said:
Big problem in my opinion, CCFC would fold first.

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