BrisbaneBronco
Well-Known Member
Should have said SISU may still be the ONLY Option:facepalm:
SISU may still be the best option! (2 Viewers)
- Thread starter grego_gee
- Start date
SkyblueBazza
Well-Known Member
I hold a balanced view too. The fact is - & as unpalatable as some might think it - SISU may yet still be our only realistic option!
The best bid for the main creditors is ultimately the winner...as SISU (in various guises) form the bulk of the creditors. They are best placed to know what the best bid will be from their side...so will be best placed to match it.
bigfatronssba
Well-Known Member
Surely the best option is owning the Ricoh income streams?
Sisu are the one organisation that can't give the club that.
Sisu are the one organisation that can't give the club that.
Mary_Mungo_Midge
Well-Known Member
That's forgivable to an extent as they were an unknown entity. Having stated that, and having been at the cutting edge of their track record, to offer even tempered support at this stage is frankly astonishing
Manchester_sky_blue
Well-Known Member
Here's a question for you, if a deal could be reached that meant SISU remained in control but that the debts were cleared, we stayed at the Ricoh and had access to the income streams from the stadium would you accept that?
For me it's a tough one, they have shown themselves to be poor owners overall (although I do feel a small amount of credit should be given for funding the losses) and I would be glad to see the back of them BUT if it came to a choice between the club being liquidated and being forced to start again in non-league or keeping SISU I think I would have to go with SISU. BUT in a choice between liquidation and supporting a SISU-owned club playing in Walsall (or wherever) then I think I would favour liquidation and starting again. Once again it all comes down to where we play.
For me it's a tough one, they have shown themselves to be poor owners overall (although I do feel a small amount of credit should be given for funding the losses) and I would be glad to see the back of them BUT if it came to a choice between the club being liquidated and being forced to start again in non-league or keeping SISU I think I would have to go with SISU. BUT in a choice between liquidation and supporting a SISU-owned club playing in Walsall (or wherever) then I think I would favour liquidation and starting again. Once again it all comes down to where we play.
lordsummerisle
Well-Known Member
They weren't that unknown at the time, the same information about their way of doing business was available then as it is now.
Just people didn't want to listen then, people don't want to listen now either much.
There has always been tunnel vision about Sisu, it's just that they're looking from the other end of the tunnel now.
Bluegloucester
New Member
SISU or liquidation are not the only options, we know of two other bidders. I would rather throw my hat in with either of them. Six years is enough.
The Penguin
Well-Known Member
I'm not ashamed to say that I did.
I was grateful that someone, anyone, had stepped in and "saved" the club from administration. I was far too naive and far too optimistic for my own good, I suppose.
For a while I even managed to rationalise the compulsory acquisition of my share in the club as "they're doing what needs to be done to make us a top flight club again".
It was only when the insanity of the Brody/Dulieu era revealed itself that I realised that perhaps we'd taken a swig from the poisoned chalice.
I suspect I'm not alone in any of this.
bigfatronssba
Well-Known Member
I supported them at first as well.
Are you suggesting we should have all disliked them without knowing anything about them?
Are you suggesting we should have all disliked them without knowing anything about them?
lordsummerisle
Well-Known Member
Did Uncle Joe come round personally to get your share off you when they "saved" the club?
At least he's here to "save" the club again.
No problem with anybody else taking over the club from Sisu, but would hope that this time, whoever takes over, is looked at with a bit more rigour than previously.
Just doesn't look that way from most posts.
Otis
Well-Known Member
Its not a choice for us!
I beleive SISU want to sell and get out if a buyer will pay a reasonable price but who knows if they will?
And I didn't say I preferred SISU!
I said we might wind up with only them left!
imp:
Then maybe you should change your thread title. That quite clearly says 'may still be the best option.'
lordsummerisle
Well-Known Member
I'd suggest that you shouldn't assume that they are our saviours without knowing anything about them.
The Penguin
Well-Known Member
No, I think what Summerisle is suggesting is that there was some evidence about at the time that hinted at their lack of suitability for owning a football club.
Somebody on here linked to an old, old, old BBC 606 thread about the takeover, written at the time, where some people did predict what was eventually to happen.
bigfatronssba
Well-Known Member
<p>
That's sensible enough. Ive already expressed concern about the far east bid with its "public board", hence why the Haskell bid looks better on that front as at least we would know the owner.
That's sensible enough. Ive already expressed concern about the far east bid with its "public board", hence why the Haskell bid looks better on that front as at least we would know the owner.
Manchester_sky_blue
Well-Known Member
Obviously, I am aware of the other bids and I believe the Chinese bid is potentially very exciting but that wasnt the premise of this thread, I was just throwing out a scenario for discussion. A scenario which could well still come to pass, despite the other interested parties
The Penguin
Well-Known Member
Nah, he didn't. It's a fair way to drive in his defense
I can understand people dropping their guard and accepting with welcome arms anyone but SISU. I'm not saying it's the right thing to do, but when you're so vehemently against something you tend to view any alternative with the rosiest of rose-tinted glasses.
italiahorse
Well-Known Member
I once supported SISU business plan to a certain extent, knowing the Fair Play rules where coming up.
However that has gone out the window now as their latest business plan in conjunction with Fair Play rules only has one outcome.
If we survive in the Football League during that 3 - 5 years then we will be coming back to a League 2 stadium.
Even paying the excessive rent is financially better than their plan. The reduction to 400K is even more beneficial.
Obviously income streams from owning the stadium would be even better but not massive compared to overall income.
Stupid Stupid Stupid and they know it.
However that has gone out the window now as their latest business plan in conjunction with Fair Play rules only has one outcome.
If we survive in the Football League during that 3 - 5 years then we will be coming back to a League 2 stadium.
Even paying the excessive rent is financially better than their plan. The reduction to 400K is even more beneficial.
Obviously income streams from owning the stadium would be even better but not massive compared to overall income.
Stupid Stupid Stupid and they know it.
Bluegloucester
New Member
These additional income streams from a poxy tin box of a stadium will add up to two parts of f all. How will a smaller and sub standard stadium compete with the Ricoh at attracting conferences, concerts etc?
It ain't gonna happen!
corniepaste
Member
Since the other thread turn into a mess of idiots, can you give me a brief idea of what was said at the meeting. If fisher was doing this of his own back he must have been less restrained with his answers and let a few more cats out the bag ?
Mucca Mad Boys
Well-Known Member
Without SISU's intervention, we would've got relegated to L1 5 years before, in fact, the club has been in decline since relegation from the prem, since it was ACL who refused to talk, CCFC haven't got an alternative but to play outside of Coventry - a fact people are forgetting.
Whilst I agree on the finances part, it is, however, just part of their 'endgame', IMO, and actually I remember before SISU we had colossal debt, i remember 20-40m or something crazy like that. So in this respect, how are they different?
Also, the owners before stopped paying debt and refused to pay transfer fees - much like the rent is this respect, so I ask again, how are SISU totally different from their predecessors?
The biggest mistake of our clubs history, leaving HR, was a decision made by Robinson and co. we left our home and couldn't afford to move into the RICOH, that decision folks still has repercussions because it means today we get nothing from F&B, but worse still, we pay 1.28m in rent and we miss out on a lot of events that come to the stadium, Bon Jovi, Olympics etc. it isn't SISU's fault they've been burdened by this rent and have missed out on all this revenue.
I almost forgot, selling players, before SISU were a selling club, who had to sell to keep us going, the 2 examples that immediately spring to mind are Davenport and McSheffrey - the ones that actually made me upset as a kid - I was in a strop for the day and a half after we sold Sheff would you believe,
This isn't 'sticking up' for SISU, it's recognising that the problems CCFC face are more long term than people think, or have many people on here got amnesia?
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mattylad
Member
Along with everybody else I was very excited yesterday reading about the new consortium bid.
But don't think its a forgone conclusion. Many things could scupper or put off all the other bidders before they get to the finishing line.
Sisu have got a lot of critics and I am not sure their recent initiative to talk directly to the fans in forums will be their wisest move. They are likely to be dominated by the "SISU-out-louts". All the more moderate fans will streer well clear not wanting to get involved in a rumble.
I certainly do not think SISU have been perfect owners but at the end of the day they ARE still here and they ARE still paying the wages and keeping the team on the pitch.
For paying the ongoing losses at a rate of £3m a year we should regard them as supporters of the team if not the biggest financial supporter of the team.
Protesters withdrawing their support from the team by threatening to buycot games and not buy season tickets cannot call themselves supporters and such actions will only take the team one way!
Dispite heated feelings against SISU they have managed to put players of the caliber of King, McGoldrick and Clarke on the pitch until now.
If your support is witheld you cannot expect SISU to manage a similar level of funding and the team will inevitably go down! Is that really what you want?
errr bit early for drinking isn't it
The Reverend Skyblue
Well-Known Member
Along with everybody else I was very excited yesterday reading about the new consortium bid.
But don't think its a forgone conclusion. Many things could scupper or put off all the other bidders before they get to the finishing line.
Sisu have got a lot of critics and I am not sure their recent initiative to talk directly to the fans in forums will be their wisest move. They are likely to be dominated by the "SISU-out-louts". All the more moderate fans will streer well clear not wanting to get involved in a rumble.
I certainly do not think SISU have been perfect owners but at the end of the day they ARE still here and they ARE still paying the wages and keeping the team on the pitch.
For paying the ongoing losses at a rate of £3m a year we should regard them as supporters of the team if not the biggest financial supporter of the team.
Protesters withdrawing their support from the team by threatening to buycot games and not buy season tickets cannot call themselves supporters and such actions will only take the team one way!
Dispite heated feelings against SISU they have managed to put players of the caliber of King, McGoldrick and Clarke on the pitch until now.
If your support is witheld you cannot expect SISU to manage a similar level of funding and the team will inevitably go down! Is that really what you want?
Grego what a bad start to your day. I have never ever read a bigger pile of crap in my life. Our once great club is on a life support machine, put there by SISU, and we still get supporters writing stuff like this. It bloody beggers belief
Mary_Mungo_Midge
Well-Known Member
They were unknown within the context they'd never run a football club before; or any sporting institution for that matter, had they?
All the naysayers at the time professed they'd sell the assets (as they were) and try and turn around the club for a quick buck. Which may indeed have been their true intent; but no-one foresaw this car crash, did they?
The worst we thought they'd asset strip; not strip the city of it's club and dignity, eh?
I agree; not all new suitors will come without agenda or some skewed intent. But for many folk, the incumbent owners - who seem prepared to treat the very existence of the club with such casual disdain - can't be followed by anything worse. It may be the case that worse can follow; but they'd almost have to set out with the sole intent of being so; such has been the quality of 'management' in recent years
Mary_Mungo_Midge
Well-Known Member
You have no proof that would be our fate. That's absolute conjecture on your behalf as it suits your argument.
And if you genuinely believe it's ACL's fault alone we are now looking to play outside of Coventry, you're delusional in the extreme
fernandopartridge
Well-Known Member
£3m per year is £60k per week in wages. When you've a squad the size of ours, your wage bill is likely to be well in excess of that + all the directors and various pay offs.
Along with everybody else I was very excited yesterday reading about the new consortium bid.
But don't think its a forgone conclusion. Many things could scupper or put off all the other bidders before they get to the finishing line.
Sisu have got a lot of critics and I am not sure their recent initiative to talk directly to the fans in forums will be their wisest move. They are likely to be dominated by the "SISU-out-louts". All the more moderate fans will streer well clear not wanting to get involved in a rumble.
I certainly do not think SISU have been perfect owners but at the end of the day they ARE still here and they ARE still paying the wages and keeping the team on the pitch.
For paying the ongoing losses at a rate of £3m a year we should regard them as supporters of the team if not the biggest financial supporter of the team.
Protesters withdrawing their support from the team by threatening to buycot games and not buy season tickets cannot call themselves supporters and such actions will only take the team one way!
Dispite heated feelings against SISU they have managed to put players of the caliber of King, McGoldrick and Clarke on the pitch until now.
If your support is witheld you cannot expect SISU to manage a similar level of funding and the team will inevitably go down! Is that really what you want?
NEVER read such inane baseless ill-informed, propaganda - and THIS is a forum that has GRENDEL and the Trust trolls posting on it regularly!
These "losses" are at BEST questionable, as they are pretty much ALL in effect owed to itself! How can people be so blind that they STILL support sisu after evwerything they have done!
Even by their OWN figures, the rent is NOT the problem, as the losses are GREATER than the rent - even is they had the ricoh for FREE (which BTW would be letting down not just the fans of coventry city, but EVERY SINGLE COUNCIL TAX PAYER IN COVENTRY!)
But when you consider that the losses are £3million, then it puts into perspective the £2.6 million in management charges!
Are you Mr Linnell in another guise? Only someone with a vested interest in sisu, could come out with such pathetic dross as this!
MAYBE it is a sarcastic post, in which case it could be understandable, but even the apologists within the trust surely would never try this!
To say sisu haven't been perfect owners is the UNDERSTATEMENT of the millenium. I cannot think of how they could have been any worse!
They have ACTIVELY attacked the protesting fans (I was there at that disgraceful day when they ripped down the protest flags), they have stripped the team beyond the minimum, they have proceeded with the appointment of 2 of the worst managers in the history of the club. They have tried blackmail threats, intimidation, downright lies, having a director in the dugout on matchdays.
AND YET.....
SOME STILL SUPPORT SISU!!!!
WHAT PRECISELY WOULD THEY NEED TO DO FOR SOME PEOPLE TO REALISE THEY ARE NO GOOD FOR THE TEAM?
HOW IS IT THAT PEOPLE DEFEND A HEDGE FUND OVER THE TEAM???
I find it laughable that there are some out there SO deluded, they are happy for sisu to strip the club apart, yet get hot under the colour over CAPITAL LETTERS!
SOME PEOPLE SEEM TO HAVE THEIR PRIORITIES WRONG!
It seems the ONLY way to support the team is by not giving ONE PENNY MORE to this club.
And quite frankly ANY FAN who thinks otherwise, as far as I am concerned is a traitor to the club!
I and a few others have stated for YEARS the ONLY way to get rid of sisu is a TOTAL boycott!
Seems it has taken a while, and there seems some will NEVER get how offensive these people are, but FINALLY people are understanding I was RIGHT all along!
GET OUT OF COVENTRY SISU - YOU ARE NOT REPEAT NOT WELCOME ANYMORE
Mucca Mad Boys
Well-Known Member
That season we only survived on GD, and without SISU coming in when they did - supposedly 30m from admin - we would've went into admin, 10 points get deducted and that would mean relegation - there's your proof.
I never said it was ACL's fault, but, when ACL refused to renegotiate, what were CCFC supposed to then!? I want answer off somebody because no one has answered this question yet, despite me asking on several occasions.
You forgot to answer the rest.
sky blue john
Well-Known Member
April Fools !!!!!!!
ccfc92
Well-Known Member
Accept the 400k per year rent. Plus access to revenues.
SkyBlueBlood
Member
How embarrassing just read this thread and pmsl at my desk, best get off to the Hilton to dry off.
The Penguin
Well-Known Member
Firstly, the biggest mistake in the club's history was selling Robbie Keane and replacing him with Craig Fucking Bellamy, everyone knows that.
On a serious note, anyone familiar with the club's finances from the mid 90s on would know that there have always been.....questionable inaccuracies within club accounts and public statements. (Allegedly.) There can be no argument that the rot started a long time before the hedge fund arrived.
I do however think that blaming the sins of the past for all our current ills can only go so far. We might have arrived at this point because of a chain reaction of shitty decisions, that is true. But there are some things that you can't blame Richardson, Robinson, McGinnity et al for.
They didn't keep Andy Thorn on.
They didn't allow jokers like Dulieu, Brody and Igwe to turn us into a laughing stock.
They didn't oversee a failure to cultivate positive, meaningful relationships with key club stakeholders.
They didn't show as wilful a disregard for the supporter base as the current administration.
And just for the record, I was just as critical of Richardson and McGinnity during their respective stewardships as I am of SISU now. Incompetent (at best) governance deserves no respect.
They took over in December 2007 and completed by getting the 90% of shares in Feb 2008. They sacked Dowie and appointed the permatan man who didn't set the club alight. We will never know if the 30 mins from admin line was true or not . It does remind me of other famous ones like " Saddam has weapons of mass destruction" or " I have 24hrs to save the NHS" or “People have to understand we do not posture, we do not threaten, because that is not how you do business, you only do business in good faith. Always.".
ACL refused to re negotiate after the 400K deal had been shaken on , then famously renaged upon. Please do get the facts right if you are going to spout off inane bollocks.
CCFC should have went crawling back and asked if they could please accept the 400k deal and said that we are really sorry and it wont happen again.
dongonzalos
Well-Known Member
ACL had already negotiated SISU refused to budge. You have had it explained to you so many times. If one person doesn't move from their stance at all, you rarely get a deal done. Unless that side held all the cards they didn't.
SISU should have signed the deal.
It was cheaper than their plan b.
skybluelee
Well-Known Member
Actually, not renewing McAllaister's contract before the scouse bastards started sniffing around was our biggest mistake.
The Penguin
Well-Known Member
I'm not sure we'd have had the money to compete, but you're right, that hurt us quite a lot.
