Going to the forum tomorrow? Dont forget the rules... (1 Viewer)

[crowsnest]

He said last time the club is not for sale as it is at its lowest eb.

We owe SISU 75 million.

He admits their plan was always to sell for a profit.

If it costs 30 million to build a new Stadium

Plus loses in the meantime and I think 2 million management fees

I would guess by the time the new stadium is built and starts to actually break even the club will probably owe SISU about 120-130 million.

Will there ever be a point where you can sell a 8-15 k stadium of a league 2,1 or championship club in the outskirts of Coventry for excess of 130 million.

If not why is the club not for sake now. As this is actually a point if no return.

Edit Reply

CCFC ltd is £70m in debt. To come out of administration the creditors have to be paid, therefore the debts will be £0.

Why would we still be £70m in debt after administration?

 

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[NorthernWisdom]

Again, pointless, he's slippery like an eel. You won't get a straight answer out of him.

I tend to agree.

Got a slightly bigger chance of working then shouting at him mind you.

 

[chiefdave]

I think that the phrase he used was "the lowest point in the business cycle".

Well, if the plan is really to move out of the city, that'll almost certainly bring significant reductions in gates. The following year under the FFP rules that TF has been so vocal about, our wage cap will be much lower - serious probablity of dropping to the fourth division. Cost overruns on the new stadium. Time overruns on the new stadium. Back to Coventry in four (if we're lucky) years, with a third/fourth/Conference team. Many of the current core support, by now out of the habit of going to the football on a Saturday?

TF may look back on current times as a "golden age".

Exactly, there should have been a follow up question of 'how do you know this is the lowest point' as for the next few years, if SISU stay, I can't see anything other than the downward spiral continuing.

 

[wingy]

CCFC ltd is £70m in debt. To come out of administration the creditors have to be paid, therefore the debts will be £0.

Why would we still be £70m in debt after administration?

But somewhere else within the group surely?

 

[wingy]

Ask him what percentage of the Clubs own survey responded positively to playing outside Coventry ,if its higher than 25% he's lying.

 

[dongonzalos]

CCFC ltd is £70m in debt. To come out of administration the creditors have to be paid, therefore the debts will be £0.

Why would we still be £70m in debt after administration?

We will still owe SISU 75 million

 

[georgehudson]

maybe also a question of;
how do the owners justify a £2.6m annual charge as a management fee ?
2.6 x 6 = £15.6m ?

 

[dongonzalos]

CCFC ltd is £70m in debt. To come out of administration the creditors have to be paid, therefore the debts will be £0.

Why would we still be £70m in debt after administration?

If SISU win the Bid they will charge that money to us that they used to win the bid.
We will owe them a fortune.