How I see the administration panning out..... (1 Viewer)

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pb2875

New Member
SISU (CCFC Holdings) will offer administrator a silly sum to buy CCFC Ltd, thus clearing the debt to Arena and obtaining golden share.

I don't believe there will be a new owner as SISU hold all the cards, it will just SISU moving forwards without carry arena debt issue.

Not the perfect scenario we are all hoping for but one that WILL come to light soon enough.
 
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pb2875

New Member
TF maintained CCFCH was debt free! I think they look do do this and then try to find a buyer but doubt it will happen. Think the only certainty is SISU will buy club out of admin! They cannot afford n e 1 else to buy golden share!
 
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Lord_Nampil

Well-Known Member
Can they do that IF the Football league say both companies are linked ??? If they say that i dont think SISU can do that by law (although i could be wrong...)
 
AFCCOVENTRY

AFCCOVENTRY

Well-Known Member
Higgs have said they will not deal with Sisu again. So if the club can't have a share in the stadium then the club is a sitting duck gong no where but more in debt.
 
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pb2875

New Member
There is a difference between being linked and being in Admin, and unless CCFCH gets served with same process as CCFC Ltd, the courts will only expect CCFC Ltd to be sorted. Therefore the ACL & GS issues lie with CCFC Ltd so CCFCH will be clean.
 
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Ashdown1

New Member
If that is the result of all this then I predict ST sales next year of 4,000 and average crowds of less than 7,000 and overall revenue diminishing by 25% once again !
 
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Jack Griffin

Guest
Another way to undermine each other & put the escape pod once more out of reach.
 
cloughie

cloughie

Well-Known Member
I,m not sure that it would be legal for CCFCH to buy CCFC ltd from the administrator as CCFCH already owned CCFC ltd prior to admin. .....I maybe wrong I'm sure someone on here will know.
 
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Jack Griffin

Guest
Lord_Nampil said:
Can they do that IF the Football league say both companies are linked ??? If they say that i dont think SISU can do that by law (although i could be wrong...)
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I think that decision is one for the courts.

pb2875 said:
TF maintained CCFCH was debt free! I think they look do do this and then try to find a buyer but doubt it will happen. Think the only certainty is SISU will buy club out of admin! They cannot afford n e 1 else to buy golden share!
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I think SISU want to transfer the golden share to CCFC (Holdings) Ltd, liquidate CCFC Ltd and negotiate a contract with ACL on their terms, if they suceed in that aim they have ACL over a barrel as the only option left to ACL is to kick them out & ACL won't go that far. Everything rests on the legal position, ultimately it will be in the hands of the judge.
 
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Samo

Samo

Well-Known Member
pb2875 said:
SISU (CCFC Holdings) will offer administrator a silly sum to buy CCFC Ltd, thus clearing the debt to Arena and obtaining golden share.

I don't believe there will be a new owner as SISU hold all the cards, it will just SISU moving forwards without carry arena debt issue.

Not the perfect scenario we are all hoping for but one that WILL come to light soon enough.
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Why would they want to? With no chance of the stadium or the income streams, what's in it for them apart from more debt? If you can see a way they can make that work, please tell me! What could possibly be thier plan?
 
Grendel

Grendel

Well-Known Member
cloughie said:
I,m not sure that it would be legal for CCFCH to buy CCFC ltd from the administrator as CCFCH already owned CCFC ltd prior to admin. .....I maybe wrong I'm sure someone on here will know.
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It's not illegal. Can't really see much point to it though unless they are the only potential buyer. Then they could make an offer regarding the stadium and the council would have two choices - accept or liquidate.

Given the council seen to now admit they will never sell back to the club their share this looks very unlikely.
 
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ampthill_sba

New Member
pb2875 said:
SISU (CCFC Holdings) will offer administrator a silly sum to buy CCFC Ltd, thus clearing the debt to Arena and obtaining golden share.

I don't believe there will be a new owner as SISU hold all the cards, it will just SISU moving forwards without carry arena debt issue.

Not the perfect scenario we are all hoping for but one that WILL come to light soon enough.
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I think along similar lines tbh...

The administrator will negotiate the best Ricoh tenancy deal he can and include a restructure of the debt. The CCFC ltd business will be bought out by CCFC holdings and we will be back to start the next L1 season.

SISU will still be in charge but our squad can be better funded and more competitive.

As soon as the club is promoted and a decent 'going concern' we'll all get our wish as SISU sell up and cut their losses (which are presently too great to cut loose).

This is not what I want... It's what I forsee..
 
cloughie

cloughie

Well-Known Member
Grendel said:
It's not illegal. Can't really see much point to it though unless they are the only potential buyer. Then they could make an offer regarding the stadium and the council would have two choices - accept or liquidate.

Given the council seen to now admit they will never sell back to the club their share this looks very unlikely.
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It all depends on where the golden share lies as CCFCH surely must get possesion of it either by buying CCFC ltd so they can play or if CCFCH has the golden sahre they will have no need for CCFC Lt
 
Grendel

Grendel

Well-Known Member
cloughie said:
It all depends on where the golden share lies as CCFCH surely must get possesion of it either by buying CCFC ltd so they can play or if CCFCH has the golden sahre they will have no need for CCFC Lt
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If they were the preferred bidder then they can buy. Portsmouth have had the same owner twice I think and also Leeds.

Sisu could start next season in charge. However the administrator must consider all offers so at least we will know of there are real interested buyers or this is just make believe.
 
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wingy

Well-Known Member
Forgive me if i'm wrong ,but as we're going to get through to the end of the season and suspect Sisu really are'nt that fussed with the club,certainly not in an investment mode and seem to have no chance of striking a deal on ACL/Stadium purchase the only option is to move away with a smaller fanbase if they buy back the Golden Share.Possibly the perfect Scenario for them as it might turn a profit.Of course Grenduffy could argue that they could nail down ACL to accept a "Paltry rental deal ",but Why??To what end??

What is to stop the Yank or A.N. Other coming in buying the Golden share,Striking a deal with ACL re Purchase or rent or both Then putting a Team together for the start of next season,Or just Buying out ACL/Council as a property /developement portfolio Aquisition with no football involved .Sorry if its illogical or if I've rambled.:facepalm:
 
DazzleTommyDazzle

DazzleTommyDazzle

Well-Known Member
Grendel said:
However the administrator must consider all offers so at least we will know of there are real interested buyers or this is just make believe.
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Not sure that's true.

If "everything" was in administration I'd agree that any interested buyer would come forward.

However we're in, what seems increasingly to be, our usual mess. CCFC Ltd is in administration. It probably owns the golden share, but apparently doesn't own any players contracts. Presumably it doesn't own (with or without mortgage) the training ground.

So what would the "interested buyer" be trying to buy.

Being in administration might have been a price worth paying to clear the decks and give us the opportunity for new owners - however, being in administration and still having SISU running the club (or to be precise the company with "all the assets in") - seems to be the worst of both worlds!
 
Baginton

Baginton

New Member
SISU wil remain the owners

ACL will not work with them

SISU will not make any money

CLUB WILL BE LIQUIDATED :(

See you down the Evo-stick league !!
 
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SkyblueBazza

Well-Known Member
Hang on a minute...the FA could grow a set of balls & in the suggested scenario...declare SISU to be not "fit & proper" (having made an apparent pigs ear in a tangled web thus far). That would mean the administrator would have to go to the next best surely?
 
Baginton

Baginton

New Member
The FA only give a toss about the Premier league and lining their own pockets, don't be fooled.

They don't care.
 
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wingy

Well-Known Member
SkyblueBazza said:
Hang on a minute...the FA could grow a set of balls & in the suggested scenario...declare SISU to be not "fit & proper" (having made an apparent pigs ear in a tangled web thus far). That would mean the administrator would have to go to the next best surely?
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That would be a massive embarrassment to them as they were well warned from posters on here when Sisu started changing the company structure over a year back.
 
James Smith

James Smith

Well-Known Member
DazzleTommyDazzle said:
Not sure that's true.

If "everything" was in administration I'd agree that any interested buyer would come forward.

However we're in, what seems increasingly to be, our usual mess. CCFC Ltd is in administration. It probably owns the golden share, but apparently doesn't own any players contracts. Presumably it doesn't own (with or without mortgage) the training ground.

So what would the "interested buyer" be trying to buy.

Being in administration might have been a price worth paying to clear the decks and give us the opportunity for new owners - however, being in administration and still having SISU running the club (or to be precise the company with "all the assets in") - seems to be the worst of both worlds!
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If there is someone who comes forward and offers to purchase CCFC Ltd (other than SISU) and their bid is accepted, they could field a team called Coventry in the league next season. They might have to locate a squad but assuming that's possible and ACL still let them play at the Ricoh apart from Ryton which may be mortgaged to AVRO anyway (team could train at Alan Higgs Centre) and some players registrations (of debatable value) what does CCFC Holdings have. Of course this assumes the Golden Share is in Ltd.
 
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rupert_bear

Well-Known Member
James Smith said:
If there is someone who comes forward and offers to purchase CCFC Ltd (other than SISU) and their bid is accepted, they could field a team called Coventry in the league next season. They might have to locate a squad but assuming that's possible and ACL still let them play at the Ricoh apart from Ryton which may be mortgaged to AVRO anyway (team could train at Alan Higgs Centre) and some players registrations (of debatable value) what does CCFC Holdings have. Of course this assumes the Golden Share is in Ltd.
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That is my hope and i think it is possible. Perhaps sisu have been stitched up by others, i am not convinced this ccfc ltd and Golden Share was the great surprise it is made out to be. ACL seemed very happy to drop their court case. Lets not forget there has been involvement in this as high as comments from the Minister of Sport, MPs and a debate in Parliament. I suspect a lot of digging has been done behind the scenes.
 
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SkyBlueBlood

Member
If SISU were to do that they would have to come in as new owners and would have to pass fit and proper persons, which may be more difficult this time if the FL take into account their incompetent management of the club and its money and their attempts to bend FL rules with the Golden Share and the players registrations.

Cant remember the exact wording as I have been out of football for a few years now, but it also states in FL rules that you cannot be a director / owner if you have been involved in more than one insolvency in football.

I also can't help but think that the FL have been quite lenient and unusually very quiet in the press about our insolvency, so do they know more than us e.g. have they been kept informed throughout the process of the likely new owners?
 
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Big_Ben

Active Member
Lord_Nampil said:
Can they do that IF the Football league say both companies are linked ??? If they say that i dont think SISU can do that by law (although i could be wrong...)
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I don't get this argument that is being raised time after time after time.
All companies have to be individually registered as limited companies at Companies House.
A limited company is a unique legal entity in its own right, even if it has exactly the same directors as one or more limited companies with slightly different names. This is why businesses often have a separate company handling the day-to-day operations and another to own the property, tangible assets, etc, so that problems with one does not bring down the other. It's not for judges to decide whether companies are 'linked' as they are in law, separate entities.

Please tell me if I'm wrong as this has been my understanding for many years.
 
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Diehard Si

Diehard Si

New Member
Big_Ben said:
I don't get this argument that is being raised time after time after time.
All companies have to be individually registered as limited companies at Companies House.
A limited company is a unique legal entity in its own right, even if it has exactly the same directors as one or more limited companies with slightly different names. This is why businesses often have a separate company handling the day-to-day operations and another to own the property, tangible assets, etc, so that problems with one does bring down the other. It's not for judges to decide whether companies are 'linked' as they are in law, separate entities.

Please tell me if I'm wrong as this has been my understanding for many years.
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It sounds right. The FL saying we are linked just means 10 points. It does nothing to put holdings in admin.
 
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LarryGrayson

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