Whoose funding KCIC? (1 Viewer)

SonOfSnoz · Jun 21, 2014

Elliott & Hoff? Michael shows more logic than the Trust!
If Sisu have invested six figure sums since ownership, why would they sell for 5k?

italiahorse · Jun 21, 2014

SonOfSnoz said:
Elliott & Hoff? Michael shows more logic than the Trust!
If Sisu have invested six figure sums since ownership, why would they sell for 5k?

.... because they will save money in the future.

sw88 · Jun 21, 2014

SonOfSnoz said:
Elliott & Hoff? Michael shows more logic than the Trust!
If Sisu have invested six figure sums since ownership, why would they sell for 5k?

They won't.

Our debts are all (or in the main) owed to themselves. Weren't the last figures in the region of £40-50m? If you were owed that much would you accept £5k and walk?

skybluejelly · Jun 21, 2014

The offer of £50,000 for the club with zero debts was ridiculous ... I could honestly find 5 people to put £100,000 in each ,but can assure you the first thing they would do is sell any assets (players etc) then close the club down ..or then sell the golden share on again ..and I am pretty sure if sisu did ever sell they would do the same

shmmeee · Jun 21, 2014

I thought it was £51987.35?

And if all Sisu have invested is a couple of hundred thousand (6 figures) we should be OK

Otium paid £1.5m for CCFC Ltd didn't they? Including how much in rates rebate from the council?

In all seriousness, seems the market value for our club is about £1m.

WiganSkyBlue · Jun 21, 2014

skybluejelly said:
The offer of £50,000 for the club with zero debts was ridiculous ... I could honestly find 5 people to put £100,000 in each ,but can assure you the first thing they would do is sell any assets (players etc) then close the club down ..or then sell the golden share on again ..and I am pretty sure if sisu did ever sell they would do the same

Don't think they could sell the Golden Share on. I think it's 'leased' and the 'freehold' owned by the FL to award to 'fit and proper persons'. IIRC

shmmeee · Jun 21, 2014

WiganSkyBlue said:
Don't think they could sell the Golden Share on. I think it's 'leased' and the 'freehold' owned by the FL to award to 'fit and proper persons'. IIRC

I think he means the club. He's saying the people involved might just asset strip the club. Not sure we've got any assets to be honest. It'd cost more in wages and bills than you'd get by selling the entire squad pretty much.

Terry Gibson's perm · Jun 21, 2014

To asset strip the club it would need to have some in the first place, the players without Wilson are not worth a million for the lot and before anybody says Ryton what are you going to use it for as everybody has tried to get planning permission and failed so it is pretty worthless.

But Sisu will not sell for such a low sum at this time.

skybluejelly · Jun 21, 2014

Terry Gibson's perm said:
To asset strip the club it would need to have some in the first place, the players without Wilson are not worth a million for the lot and before anybody says Ryton what are you going to use it for as everybody has tried to get planning permission and failed so it is pretty worthless.

But Sisu will not sell for such a low sum at this time.

That's exactly my point... Wilson is worth £1 million plus on his own .. So all bids must be above his value at a minimum..the other players at this moment in time are probably a million between them if we were lucky ..but they also have liabilities of there wages ..the golden share has a value as it allows you to play in the league and receive payments from the TV rights ..so there. Are assets there just not a lot but certainly north of a million

stupot07 · Jun 21, 2014

Terry Gibson's perm said:
To asset strip the club it would need to have some in the first place, the players without Wilson are not worth a million for the lot and before anybody says Ryton what are you going to use it for as everybody has tried to get planning permission and failed so it is pretty worthless.

But Sisu will not sell for such a low sum at this time.

Yep, there's very little to asset strip. And selling your best players to help fund operating losses is hardly 'asset stripping'.

Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors

Paxman II · Jun 21, 2014

The word you are looking for is the ' Goodwill' of the business. What's that worth? Sure the goodwill has fallen flat the last few years but unlike a restaurants goodwill disappearing it only takes a renewal of stadium and the club to come together and potentially the goodwill is 30k+ customers.

Terry Gibson's perm · Jun 21, 2014

If at some point Sisu go I would expect them to sell anything that is not bolted down, but might be in for a shock at how little the things they have are worth when it come to a fire sale.

SonOfSnoz · Jun 21, 2014

shmmeee said:
I thought it was £51987.35?

And if all Sisu have invested is a couple of hundred thousand (6 figures) we should be OK

Otium paid £1.5m for CCFC Ltd didn't they? Including how much in rates rebate from the council?

In all seriousness, seems the market value for our club is about £1m.

So why would Sisu/Investors give the club away for 50k?

WestEndAgro · Jun 21, 2014

Terry Gibson's perm said:
If at some point Sisu go I would expect them to sell anything that is not bolted down, but might be in for a shock at how little the things they have are worth when it come to a fire sale.

Their is nothing to sell, hence our current plight, the club owns nothing, diddly squat , sweet FA

Houdi · Jun 21, 2014

SonOfSnoz said:
So why would Sisu/Investors give the club away for 50k?

Not sure a loss making business with very few assets, huge debts and ongoing and continuing losses, with no virtual goodwill,having basically lost over 80% of its customer base in just over a year ,is worth even £50k.

SonOfSnoz · Jun 21, 2014

But drag through court & maybe that's how they make their money?
Nobody will touch this club with a barge pole!
Sisu fell for it & bet they regret it big time!
But the troubles started way before they came!!

torchomatic · Jun 21, 2014

SonOfSnoz said:
Elliott & Hoff? Michael shows more logic than the Trust!
If Sisu have invested six figure sums since ownership, why would they sell for 5k?

Oi! The first rule of KCiC is ask no questions.

I do keep asking if ACL are happy with this but never get a reply. anyone know if Michael has cleared this with ACL?

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skybluetony176 · Jun 21, 2014

torchomatic said:
Oi! The first rule of KCiC is ask no questions.

I do keep asking if ACL are happy with this but never get a reply. anyone know if Michael has cleared this with ACL?

Sent from my GT-I9505 using Tapatalk

Does anyone know if sisu cleared the move to Northampton with the clubs paying customers?

shmmeee · Jun 21, 2014

Houdi said:
Not sure a loss making business with very few assets, huge debts and ongoing and continuing losses, with no virtual goodwill,having basically lost over 80% of its customer base in just over a year ,is worth even £50k.

One that owns a stadium complex and surrounding land, has one long term stable debt, and is showing profitability is apparently worth £0. So on that basis, I assume Joy should be paying someone to take CCFC off her hands. I think this is a magnanimous move by Michael, that shows that he really cares about struggling hedge funds.

Ian1779 · Jun 21, 2014

skybluetony176 said:
Does anyone know if sisu cleared the move to Northampton with the clubs paying customers?

He's asking a sensible question which ultimately is fundamental to whether this offer could actually happen - yet you choose to deride it with a childish retort.

rupert_bear · Jun 21, 2014

SonOfSnoz said:
So why would Sisu/Investors give the club away for 50k?

Hoffman's offer was 1 pound. £51986.35p less than KCIC's

Grendel · Jun 21, 2014

Ian1779 said:
He's asking a sensible question which ultimately is fundamental to whether this offer could actually happen - yet you choose to deride it with a childish retort.

You can't ask questions on Sky Blue Tony. Its not allowed - never challenge -just nod your head and willingly submit.

Kingokings204 · Jun 21, 2014

The business is worthless as it is loss making although attempts have been made to rectify that (sixfields and alienating 90% of the fan base aside)

If at the Ricoh now on 150k rent as per last offer and with our wage bill around 1.5-2m then Coventry could even be making money right now.

We said last season under the great football we played attendance would of been 15-20k with advertising being increased for sure and sponsorship monies. Heck even a shot at the playoffs without selling leon and ten point deduction we would all agree a certain top 8 finish which would of been highest position for 15-20 years. Trouble is while ccfc have streamlined correctly the business is run with no potential and ambition. Customers (fans) won't come back to the Ricoh while sisu are in charge.

The business is worthless. Whilst I agree the amount offered was silly for the novelty value actually 51k is a kind offer as it gets the current owners out and stop carrying on in a worthless no interest business. That's was the point to the offer I believe.

Sisu know full well ccfc is worth nothing and wouldn't sell to anyone unless a stupid amount came in which won't happen. The reason they won't sell is because it is worth nothing. They somehow hope to wrestle the Ricoh off the council via leasehold (they say freehold but that's impossible) and sell both club and lease together to as this will be worth something then.

If they get seriously lucky on the football front they might get promotion (good for us but lucky for them) then business again worth more or even still in league 1 but league 2 below takes our price down again. isn't the championship in the top 10 league in Europe still? That's how valuable promotion/the championship is these days.

The won't sell and repeatedly say this as outlined above. They hope to break ACL this means NOPM dare I say it and it doesn't work out too bad ccfc dying because when they do come back the value will shoot up massively even more so dependant on league and league position.

I still think this is just my opinion something will have to give June 30th week as the results will either dictate what happens which I don't think they will but seems to be plausible or more likely ccc can finally talk and throw it's best offer on the table for sisu. ML has already confessed to wanting talks 2-3 weeks ago but was refused. I say confessed as why on earth would you want talks with your enemy 2 weeks before a massive court case if you wernt desperate. Simple answer is you wouldn't. I didn't see ccc begging for talks.

Something has to give and it will. It's just in what form I'm not sure of. Someone quoted earlier saying ML quotes as the club will die if starts next season at Northampton. Stating the obvious but at least it's from the horses mouth.

If I had 1 million pounds and it was one way or the other I would put it on we will back at the Ricoh come August 9th. I have been known to be wrong before but one thing is for certain this can't continue for the next 5 years so something has to give and sooner the better would be of everyone's interest.

Nick · Jun 21, 2014

Ian1779 said:
He's asking a sensible question which ultimately is fundamental to whether this offer could actually happen - yet you choose to deride it with a childish retort.

That's the way things roll. It's hilarious.

shmmeee · Jun 21, 2014

Ian1779 said:
He's asking a sensible question which ultimately is fundamental to whether this offer could actually happen - yet you choose to deride it with a childish retort.

I assume it is considering the sums involved and the fact it's in the public domain, but why would it matter to ACL who paid the rent?

Seems more like one side are desperate to find a hole in this to be honest.

Grendel · Jun 21, 2014

shmmeee said:
I assume it is considering the sums involved and the fact it's in the public domain, but why would it matter to ACL who paid the rent?

Seems more like one side are desperate to find a hole in this to be honest.

How much is the rent?

shmmeee · Jun 21, 2014

Grendel said:
How much is the rent?

[video=youtube;ffo3_fO_RA8]https://www.youtube.com/watch?v=ffo3_fO_RA8&feature=kp[/video]

wingy · Jun 21, 2014

TBF I'm amazed our Chamber of commerce hasn't rallied the business community behind an initiative such as this from the very outset .

Oh hang on Is It Sandra Garlick who fronts for them ,maybe a conflict of Interest .

Nick · Jun 21, 2014

shmmeee said:
[video=youtube;ffo3_fO_RA8]https://www.youtube.com/watch?v=ffo3_fO_RA8&feature=kp[/video]

So you are actually saying the rent amount doesn't matter at all?

italiahorse · Jun 21, 2014

Grendel said:
How much is the rent?

No cost to the club up to 5000. Then a contribution.
If they get a crowd of 10,000 then 5,000 x £15 x 23 = £1,750,00 should cover it. Just in case it doesn't then sponsors could bridge the gap

Grendel · Jun 21, 2014

italiahorse said:
No cost to the club up to 5000. Then a contribution.
If they get a crowd of 10,000 then 5,000 x £15 x 23 = £1,750,00 should cover it. Just in case it doesn't then sponsors could bridge the gap

So as usual you have no idea and you make up shit.

italiahorse · Jun 21, 2014

Grendel said:
So as usual you have no idea and you make up shit.

I give you some figures that are factual and you can't put a case against so you again just give abuse.
Why are you on here ?

dongonzalos · Jun 21, 2014

Thought this thread was whose funding KCIC?

The answer should be every Cov fan with a spare few quid

Broken Hearted Sky Blue · Jun 22, 2014

italiahorse said:
I give you some figures that are factual and you can't put a case against so you again just give abuse.
Why are you on here ?

Because he's a twat.

sky blue john · Jun 22, 2014

We should be calling for an independent valuation of CCFC !!!
Well that's what Sisu would do and publicly would they not ???

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