SkyBlue_Bear83
Well-Known Member
And Wilson and Bigirimana in the last 5 years, assuming a low estimate where clauses are never met etc. of 6 million for the 3 that's double what its cost to run in that time.
CCFC Accounts, £1.9M Loss (11 Viewers)
- Thread starter torchomatic
- Start date
And Wilson and Bigirimana in the last 5 years, assuming a low estimate where clauses are never met etc. of 6 million for the 3 that's double what its cost to run in that time.
Skyblueweeman
Well-Known Member
Well...apart from the 90s and early 00's which is why we're in this mess we're in.
oldskyblue58
CCFC Finance Director
What SISU /ARVO have invested are the capital sums they have put in to the group ie the loans which stand at £36m. Even then I am pretty sure not all of that was cash
The preference shares are clever accountancy that have capitalised internal group debts. To see what they have "invested" you need to look at the group situation not Otium
"Overall the finances are being stabilised. The situation is not better as such because we still have massive debts and are still making losses, especially for a L1 club with few assets but it is no longer nose diving through the floor. It has levelled out at a very low level but it could have been worse. So long as fans recognise and support the constraints on finances then progress however small has to be welcomed. The problem is managing fans expectations whilst maintaining the financial control.
So not great but better than we have seen for some time and heading in right direction"
So compared against your comments of last year? I assume a considerable improvement? ( I know not perfect but ... )
So not great but better than we have seen for some time and heading in right direction"
So compared against your comments of last year? I assume a considerable improvement? ( I know not perfect but ... )
Skyblueweeman
Well-Known Member
You'd think that recent examples like Bolton would sharpen their focus on it.
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skybluetony176
Well-Known Member
Would these accounts include the windfall from the Arsenal cup game or was that the previous years? Also how many games from Northampton does this include? Also wouldn't our parting gift of a new pitch for Northampton also have come out of this? If the Arsenal money was in the previous years accounts and a good number of games ticket revenue was from Sixfields and without the cost of relaying the Sixfields pitch this could bode well for the next year of accounts.
Gazolba
Well-Known Member
There goes the Maddison money.
SkyBlue_Bear83
Well-Known Member
Arsenal games was the year before, this only included 2 or 3 sixfields fixtures
skybluetony176
Well-Known Member
I'm not sure when the clubs financial year start's and end's. If it's in the summer between seasons then you are of course right. If it's April to April though for instance then a number of games from the previous season would be included wouldn't they?
chiefdave
Well-Known Member
This lot cover June 1 2014 to May 31 2015
skybluetony176
Well-Known Member
Cheers Dave. Just clocked that on the clubs website.
stupot07
Well-Known Member
In which case You could argue the 2-3 games at Sixfields is counter balanced by the Gillingham and Yeovil games.
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SkyBlue_Bear83
Well-Known Member
To my limited knowledge and understanding it still looks like we are up the shitter, we would have had an operating loss close to 5 million had it not been for Wilson sale.
Also I keep seeing it said that operating losses are down from 4.4 million but the previous years operating loss looks to be closer to £6 million in the accounts?
Also I keep seeing it said that operating losses are down from 4.4 million but the previous years operating loss looks to be closer to £6 million in the accounts?
skybluetony176
Well-Known Member
If they ran to May 31st 2015 that does ask one question. Neil MacFarlane's payoff has been referenced a few times as an expense but I thought he didn't leave until July 2015?
SkyBlue_Bear83
Well-Known Member
It was only £10 though wasn't it for Gillingham match?In which case You could argue the 2-3 games at Sixfields is counter balanced by the Gillingham and Yeovil games.
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J
Jack Griffin
Guest
They're just shares, no one actually thinks they will get £61M for them! I've have though they might get about 3% of the nominal value or £1.8M.
Nick
Administrator
That's the thing isn't it, they could try and get £1million per share but it doesn't mean people would buy them. Surely then though they could have just done that with the existing shares if they wanted to?
J
Jack Griffin
Guest
Wasn't a large part of it carried over into the accounts from when SISU bought the club? It existed on paper before SISU bought the club.
J
Jack Griffin
Guest
Basically he had to be sold to keep the club afloat.
J
Jack Griffin
Guest
http://wck2.companieshouse.gov.uk//wcframe?name=accessCompanyInfo
Name & Registered Office:
SKY BLUE SPORTS & LEISURE LIMITED
96 KENSINGTON HIGH STREET
LONDON
W8 4SG
Company No. 06414248
Status: Active
Date of Incorporation: 31/10/2007
Country of Origin: United Kingdom
Company Type: Private Limited Company
Nature of Business (SIC):
64209 - Activities of other holding companies not elsewhere classified
Accounting Reference Date: 31/05
Last Accounts Made Up To: 31/05/2014 (GROUP)
Next Accounts Due: 29/02/2016 OVERDUE
Last Return Made Up To: 31/10/2015
Next Return Due: 28/11/2016
NB Obviously no longer overdue, the accounts will be available at companies house shortly.
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skybluetony176
Well-Known Member
http://m.bbc.co.uk/sport/football/33734194
I think I'm right. Neil MacFarlane's departure was announced at the end of July 2015 so why would his payoff be in the accounts for year ending May 2015? Doesn't make sense to me. Maybe he was afraid to tell his wife he'd lost his job and the club agreed to play along for a bit
I think I'm right. Neil MacFarlane's departure was announced at the end of July 2015 so why would his payoff be in the accounts for year ending May 2015? Doesn't make sense to me. Maybe he was afraid to tell his wife he'd lost his job and the club agreed to play along for a bit
Nick
Administrator
http://m.bbc.co.uk/sport/football/33734194
I think I'm right. Neil MacFarlane's departure was announced at the end of July 2015 so why would his payoff be in the accounts for year ending May 2015? Doesn't make sense to me. Maybe he was afraid to tell his wife he'd lost his job and the club agreed to play along for a bit
Unless he worked his notice or something.
He seemed to disappear before it was officially announced didn't he I think?
SkyBlue_Bear83
Well-Known Member
Only a few weeks before, I remember him at a few pre season friendlies.
skybluetony176
Well-Known Member
That's what made me think. I was sure he was present at some preseason games. Maybe CA got it wrong? No biggie either way, just means his payment is coming out of this seasons accounts and SP got more than thought.
SkyBlue_Bear83
Well-Known Member
Is that you arguing about the debt on the telegraph site?
Nick
Administrator
oldskyblue58
CCFC Finance Director
Just to be clear the preference shares carry no voting rights. That means you do not need to buy them to buy the company, but they are a problem for any potential purchaser.
The preference shares carry a right to a 15% dividend and a right to distributions equal to the paid up amounts on those shares that is in theory accumulating for starters. There is also an order to those distributions and those relating to ARVO pref shares (14m) come first. The remaining 50m are owned by SBS&L and those B class pref shares come second
If someone was looking to purchase the club they would now, I would suggest, look to purchase SBS&L 1000 ordinary shares of £1 and to clear out the ARVO preference shares and loans. The whole set up has been organised so that ARVO comes first and this has been the case for a number of years. You wouldn't purchase just Otium because that would leave £50m of preference shares with rights to accumulating dividend/distributions in someone elses hands. Buy SBS&L and you effectively buy the rights to £50m of preference shares. To buy SBS&L you only need to buy the ordinary share capital. If it were for sale
As SBS&L are plaintiffs in the JR1 and JR2 then it is most unlikely that SISU would sell until that is settled. What the preference shares do is to effectively put up a barrier to buying Otium alone.
To get rid of ARVO seems to be £14m for preference shares, £10m to settle the loans in full and remove their security charge plus the value of £1000 ordinary shares in a asset less loss making group say £1
Just another thought does that mean that the investment value of SBS&L in SISU's books is nil ? Has that been the case for sometime? Cant see anyone paying £24m any time soon for SBS&L group somehow whatever way they structure it, should it be for sale in the first place
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SkyBlueZack
Well-Known Member
So if I've read that right an offer of 24 million and a pound? Everyone get putting the lottery on haha.
oldskyblue58
CCFC Finance Director
ha ha got plenty of time - wont be for sale for a while yet
dongonzalos
Well-Known Member
I appreciate this is hypothetical, however if they were to accept a price of 24 million. If they had managed to do the wasps deal.
Then would someone have had to paid them 30 million and take in a 14 million loan in order to buy them out?
Then would someone have had to paid them 30 million and take in a 14 million loan in order to buy them out?