MichaelCCFC
New Member
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Haskell in Casino (1 Viewer)
- Thread starter Steve.B50
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This is now on a new thread
Just noticed . THANKS
smouch1975
Well-Known Member
If the club is valued at £20 million, you can add the £60 million owed to Arvo to that, before SISU will think of walking
oakey
Well-Known Member
If no one is willing to pay the debt has to be written off to ARVO or anyone else. Assets can be sold to pay but we don't have many.
In the meantime the club receive no income from 20 April. No tickets, no season ticket income, no new kits on sale. So how will they pay the wages?
Paper debts will mean nothing. All they can do is try to sell a few players which might make a few quid if anyone is desperate to have our players. Otherwise will SISU put the money in to pay wages? I think they would be foolish not to seek an exit.
J
Jack Griffin
Guest
I was pondering that. There has to be a sum that can be written off..
I think if OSB has it right they kept the £35M Richardson wrote off on the books. So that takes a chunk out.
That leaves £25M, of which £8M is secured debt and £1.3M is owed to ACL.
And they will want a decent 7 year return on the money they used..
So are we talking £24M + 30% = £30M approx..
I think that sum will be too high for current bidders..
It is all shrouded in secrecy, so heaven knows what the real numbers JS/TF are working to.
mattylad
Member
His dad is worth about 500 million but he is a businessman so got to presume he expects to turn a profit at some stage re the surrounding land
LarryGrayson
New Member
dont really matter if his left all his cash to the dogs home
Mary_Mungo_Midge
Well-Known Member
A hedge fund always hedges it's investment with another opportunity. Over a year ago on here I stated it would be to get their hands on the stadium, as cheaply as possible.
I remain of the opinion this us where they've been driving towards. Rentals, F&B's et al merely a sideshow to camouflage their real intent
Mary_Mungo_Midge
Well-Known Member
Why would the football club be the weakest entity saddled with debt?
What if the intention is to buy CCFC Limited from administration, and use this business - with the Golden Share - to buy the stadium? The football club also benefits from the turnover ACL have developed over the years, which is currently £6m in non-football-related activity.
Sure, there'd be borrowing, but to a business with assets and a more diverse and less seasonal income
covboy1987
Well-Known Member
Preston Haskell has his own personal fortune of around £170 million However his family are as an entirity are worth mega bucks
I would not have thought that Mr Haskell would use any of his own monies for this venture he will have plenty of banks and institutes that will supply the monies needed one being his now close friend Mr Hoffman who wil also advise him on rasing monies through european grants
He will not need 70 million for the purchase of the staudium more like 40 million
LarryGrayson
New Member
who cares wot his family own if there not involved
I was thinking along those lines too.
I don't know if it's possible, but what's to stop another of the many other SISU companies offering a penny in the pound more than Haskell the fourth or any other bidder to get out of admin with a clean sheet, and take up the deal that ACL/CCC were prepared to offer the American/Jo/Hoffman - or are they legally allowed to offer one thing to one set of potential purchasers, but deny the same offer to others (including SISU).
coundonskyblue
New Member
<p>
As I see it Higgs/Ccc would be under no obligation to sell in that situation.
As I see it Higgs/Ccc would be under no obligation to sell in that situation.
It will be a commercial decision by acl. They can agree something different with one party to what they might with another. I think in all this mess it is understood that the lease was in the company in admin. If the football share is also in ccfc and someone buys this acl could insist that a purchaser takes on the same lease that was previously in place if they want to use the ground (unlikely) or renegotiate a new one.
Skybluerevolution (Pt2)
New Member
ACL will sell to their preferred choice and SISU or any associate company would not get past the due diligence - those bridges have been well and truly brunt...more like incinerated.:slap:
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Agreed. The ground/higgs share is their asset, they can sell it to who they want as long as it doesn't impact their own creditors, however, I do wonder if the situation is altered by where the right to buy the Higgs share at an agreed price sits (was that in ccfc or ccfc holdings ?) and whether this overrides the ability to sell it to a third party.
I understand the council can veto this sale in any event though.
SkyblueBazza
Well-Known Member
I think the due diligence thing would be a totally objective list of criteria which are all pretty much financially based rather than subjective "don't like them" type stuff tbh. That could yet let the current owners remain via some means or other.
Skybluerevolution (Pt2)
New Member
I agree to a point, I have had dealings with tender type submissions and in my experience you can with prior knowledge put in trapdoors in the due diligence that you know if the applicant answers the questions truthfully they will fail due diligence, and if they lie they get excluded from the process - I think that if SISU or an associate company came near as a buyer they would be laughed out of town. the saying that comes to mind (hopefully) is "once bitten twice as shy!"
