Who do you blame? (1 Viewer)

[luwalla]

SISU made a massive FU, they had the chance to play nice , get along with everyone and get the ricoh. The club would have owned ( or the very least part owned ) a massive asset, been able to generate more revenue and have secure future with their own stadium... instead they chose to alienate everyone and try to strong arm their way around the deal, thinking they could get the stadium even cheaper that way.

It failed and its f***ed us in the process. Thats the only reason they persist on going down this legal process...

 

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[Skyblueweeman]

This is my take on it. Happy to have any misconceptions corrected factually,

The previous board, whether by inadequacy or whatever fault or reason, put the club in a position where new ownership was necessary
Ray Ranson was looking for a club and engaged the financial support of SISU by selling them a dream of turning the club around at a profit
Allegedly CCC vetoed other interest and favoured SISU because the other interests were focused on acquiring the stadium and SISU were not
When the turnaround of the club didn't seem to be happening SISU (or their representatives) panicked and took a short term view on profitability, leading to Ranson leaving
SISU, or their representatives, decided to play hard ball on the rent and refused to pay it. Eventually ACL petitioned for administration of the club ostensibly to recover monies owed. Some say that this was an attempt to force ownership change. If so it was naive and SISU put the club into administration themselves so controlling the outcome.
This argument led to FIsher moving the club to Sixfields and starting a dialogue about a new stadium, Nobody with any sense thought this would ever happen, but some people chose to believe it when it suited them to.
A deal was done , and the club returned to the Ricoh

Up until this point, whatever mistakes had been made, whatever poor, misjudged or downright incompetent decisions had been made, everything was reversible and, with good will, a new relationship could have been developed.

Then CCC sold ACL to Wasps owners. Some would say it was a spiteful action to finally get one over on SISU; some would say it was good business for the council. From that point on CCFC were condemned either to renting at the Ricoh, with the resultant limitations on income streams, or securing a new stadium to play in. Even if a new owner came and the poisonous relationships became a thing of the past, that would remain the situation.

The subsequent JRs and legal arguments are in some ways immaterial. The damage was done.

So yes, SISU have been poor owners with a history of poor management decisions, they have no interest in the football club, as such, as long as it doesn't cost them any more money. I will be glad to see the back of them.....one day

But it was the act of selling ACL to Wasps ownership that determined the future of the football club

Great post this. Should 'ctrl c + ctrl v' onto the Cov FB page to enlighten some on there...

 

[chiefdave]

Great post ceetee, certainly agree with this and I'm not sure why its a point that is so hard for many to comprehend.

Up until this point, whatever mistakes had been made, whatever poor, misjudged or downright incompetent decisions had been made, everything was reversible and, with good will, a new relationship could have been developed.

When the turnaround of the club didn't seem to be happening SISU (or their representatives) panicked and took a short term view on profitability, leading to Ranson leaving

My take on this part is slightly different. I suspect Ransom sold SISU the investment along the lines of put in this much and you'll get this back. But he got his calculations wrong basing them on a bump in attendances.

Basically he ran out of money and had to go back to SISU cap in hand. Suspect their financial year wasn't in line with the clubs so every year there was a gap between us needing the money and them agreeing to provide it, hence the embargos.

The point at which Ranson was told to generate the money himself, ie: sell Dann and Fox, was the point he knew the plan had failed. Hence his attempt to resign.

SISU never wanted to own a football club, Sepalla has openly said that. And the idea that on day one the plan was to somehow get the stadium for next to nothing doesn't stack up for me.