Seppala at the SCG Meeting...

[Samo]

''We have ascertained that the 11,000 crowd break even figure, which we predicted at the start of the season, is inaccurate and it is actually more like 14,000, on a constant yield basis.''

WTF? Inaccurate by 3K?

Sorry if this has already been posted.

 

[chiefdave]

Who drew the budget up, Waggott? That would explain why he disappeared and also would explain the rush to sell Maddison when we were all under the assumption that we were above the break even level.

 

[ccfctommy]

http://www.ccfc.co.uk/news/article/...-joy-seppala-2988355.aspx#R8pYZXmd4xIteZ2A.99

 

[Samo]

Is there seriously nobody at the club who can add up?

 

[ccfctommy]

Sorry I cannot seem to copy and paste from the site. But the mintes are there along with the Q and A with Joy.

 

[oucho]

Steve Brookfield, the former financial director, left the club a little while ago. Wonder if this is connected with his departure?

 

[rupert_bear]

So the break even figure was 11000 until that was easily achieved and is now 14000 which I bet is under the average attendance for this season. Wonder what the break even figure would be in the championship where the average wage per player according to recent figures is around £6k a week

 

[Captain Dart]

Is there seriously nobody at the club who can add up?

SISU claim they put £60M into the club, I do not believe that is real money that can be spent, some sort of figure in the accounts more like.

Unless OSB can verify the figure from published accounts I will take that statement to be hogwash.

 

[dongonzalos]

That would explain next seasons budget then. If you missing out on your target by a 5th most weeks.
Shame.
It shows how much needs to be done in that negotiation by CA if even in this deal we need a 14k crowd to break even.
Let's hope he can work his magic and get that down to 10k

 

[dongonzalos]

It's also very good news that Joy Seppala attended she should do a lot more of this.

 

[Nick]

Some of the words sound good, it just needs the actions. Even with little bits like things about Jimmy Hill!

 

[BrisbaneBronco]

Yet more Porkies

So JS said at recent SCG meeting which was on 24th Feb, that, we needed to own our own stadium.
CA has said in the last couple of days that we don"t. WTF

 

[steveecov]

So the break even figure was 11000 until that was easily achieved and is now 14000 which I bet is under the average attendance for this season. Wonder what the break even figure would be in the championship where the average wage per player according to recent figures is around £6k a week

Don't worry.....we'll be playing 5-a-side.

 

[Nick]

So JS said at recent SCG meeting which was on 24th Feb, that, we needed to own our own stadium.
CA has said in the last couple of days that we don"t. WTF

Anderson seems to be the one saying things that don't match other things.

Has he ever met Mowbray or Seppalla???

 

[Samo]

Anderson seems to be the one saying things that don't match other things.

Has he ever met Mowbray or Seppalla???

Is it too much to ask that these slippery bastards at least tell us the same lie?

 

[dongonzalos]

So JS said at recent SCG meeting which was on 24th Feb, that, we needed to own our own stadium.
CA has said in the last couple of days that we don"t. WTF

Yes she seemed quite clear about that.
Needing it is obvious affording it is another matter.
Let's hope they sort out a great deal with Wasps.

 

[dongonzalos]

Don't worry.....we'll be playing 5-a-side.

We would have a shit hot 5 aside team
RCC, Vince, Fleck, Murphy, Armstrong.

 

[oldskyblue58]

Taken from the cash flow statements of SBS&L from 2008 to 2015

......................................................Loans...........repaid .........Pref shares
2008..........................................11039686................0..................0
2009..........................................12862369......2594038..................0
2010............................................3526120 .......864641.................0
2011..........................................11080888.......1563141.................0
2012............................................6275000.......4625236.................0
2013........................................... 5378000.......1178999.................0
2014............................................2808000..................0......3295000 (conversion of loans )
2015.......................................................0.................0.......1021192 (conversion of debt & interest)

Net amounts in 42,144,008 it would seem

The 2015 accounts say borrowings total 36.2m - we only borrow off SISU investors and ARVO apparently

 

[Nick]

Taken from the cash flow statements of SBS&L from 2008 to 2015

......................................................Loans...........repaid .........Pref shares
2008..........................................11039686................0..................0
2009..........................................12862369......2594038..................0
2010............................................3526120 .......864641.................0
2011..........................................11080888.......1563141.................0
2012............................................6275000.......4625236.................0
2013........................................... 5378000.......1178999.................0
2014............................................2808000..................0......3295000 (conversion of loans )
2015.......................................................0.................0.......1021192 (conversion of debt & interest)

Net amounts in 42,144,008 it would seem

Could she be included some sort of interest accured in the total? As if to say "We haven't taken it out, so it means we have put it / left it in"

 

[oldskyblue58]

accrued interest at 31/05/15 £2.7m

even if you take the loans gross it doesn't come to £60m

But physical investment of hard cash is not £60m

Unless the accounts are wrong ?

 

[Nick]

Nobody likes 42,144,008 as number, may as well round it up to a better number like £60m!

 

[Captain Dart]

To be fair, £42M is a lot more than I had thought, the figure my gut was saying was around £30M.

 

[oldskyblue58]

To be honest I think the actual cash is probably lower because the original £11m is made up of what they took over from the old group. Included in that was £6m I believe that related to liabilities to be paid should we be promoted to the Premiership by a certain date

 

[muller]

If you look back over the last fifteen years or so and look at who has run ccfc if as captain dart said ( a gut feeling ) is the only way to look at the accounts. Sisu is a hedge fund the inland revenue don't know how much there worth so we have no chance. The good thing is we exist and weather we like it or not that is thanks to sisu.

 

[Chipfat]

This is another example of those within Sisu not really understanding how to run this club, after 9 years they still cant forcast or predict how to fund it. The only safety net they have is to sell the best players at a price that will cover running costs that they fail to account for. Sooner or later this format will run out of luck aswell as players who are worth as much to other clubs like Wilson and Maddison.

They have stumbled from one hurdle to the next and have no idea how to create succcess on or off the field within football. All they have done is change the face and appease the fans by asking for time for the new man to sort it out. We have heard this time and time over with the last always being the one to blame, Anderson is no different and if anything even worse in the fact he doesnt seem to know what the owners want or are trying to get.

We have no direction off the field this club is drifting to next season and will have the same issue they have today, only next time TM might not be the one Standing on the side lines.

 

[RegTheDonk]

So JS said at recent SCG meeting which was on 24th Feb, that, we needed to own our own stadium.
CA has said in the last couple of days that we don"t. WTF

Probably hasn't even looked at the books and is simply remembering and quoting Fisher's strap line. Or maybe that's her original wish and Fisher is the nodding dog trying to make it happen and say it's a necessity. Who knows - its just a pity they forgot to update the bullshit crib sheet, makes them all look liars.

I expect CCFC is just a small thorn in her empire and as long as its not hemorrhaging money (ie. we can sell a decent player when we have to) probably doesn't take much interest.

 

[hill83]

Another day at Sisu HQ

[video=youtube;ZnHmskwqCCQ]https://www.youtube.com/watch?v=ZnHmskwqCCQ[/video]

 

[Hobo]

accrued interest at 31/05/15 £2.7m

even if you take the loans gross it doesn't come to £60m

But physical investment of hard cash is not £60m

Unless the accounts are wrong ?

Everything SISU do seem to be wrong? Still contradicting each other over the need for our stadium. The break even figure 11000 oops no it's 14000. JS admiting they got it totally wrong up to 2012 trusting the wrong people. They claim to be financial experts? Still looks like it is one step forward one step back with them. However much I try to give them another chance they keep tripping themselves up.

 

[SkyBlue_Bear83]

Apparently our playing budget would be 5-7 million in the championship, in what way is that competitive?

 

[SkyBlue_Bear83]

Interesting that the idea of renaming of a stand after jimmy hill was considered too costly after discussions with wasps and they also rejected a pre season friendly proposal with Fulham in honour of jimmy hill.

 

[oldskyblue58]

Now I know it can be said that a deal with Wasps COULD make sense COULD work that a new stadium was not ruled out but does it not appear that CA could be at odds with Seppala. It does come across as left hand not knowing what the right hand is doing.

It would be interesting to know what she actually said rather than a sanitised version of events in the minutes. I think most would expect to rule out a merger but shouldn't the question have been are you prepared to work with Wasps long term?

How does the legal action which we are told is nothing to do with CCFC go on to give CCFC its independence? (legals not stopping so more of this crap for some time to come)

So she has no idea as to outcome of the court case other than redemption for the club - what the hell does that mean?

Maddison money - so unlike we were told end of January only part of the Maddison money stays in the pot for the squad. The rest goes where?

Parachute payments are a misnomer aren't they in L1 - how much do you get for coming down from Championship to L1 ?

So had we not been successful of sorts we would have been in an increasingly difficult financial position because based everything on 11000 ave crowd and are spending above that. being out by 3000 equates to being over 500k out on the finances over a year. I thought we were targeted cash flow neutral and had steadied the finances - this doesn't seem too well controlled

The academy is important to the community. But how many academy players are first tem regulars? Unless they become first team regulars their worth is not enhanced. How do you build stable finances on the chance you might bring a "gem" out of the academy each season?

So is she prepared to "invest" rather than fund, if so how?

So with bigger crowds they have put some money in - I assume the £780k rolling finance that has been paid down 500k - put in to make the club self sufficient but it doesn't does it because it is borrowing more money isn't it?

Sorry how does owning our own ground make up for other teams getting parachute payments as well as other incomes. If we got up this or next season we still wont own our ground and I fail to see why Wasps would fall over themselves to release income streams for a short term commitment at the Ricoh. Bournemouth and Swansea might seem like small teams historically but Swansea's turnover in 2015 for instance was 103m of which 85m came from media & 7m from ticket sales hardly small at the moment

there are more questions but I give up....... as usual contradictions and lack of clarity from the owners

 

[Hobo]

Redemption is some of her biblical twaddle like being a shepherd for other people's money. Basically it means her getting her own back.

 

[Samo]

I don't believe we were told that all the Maddison money was going into the squad were we? Only that it would be used for the running of the club.

 

[dongonzalos]

Now I know it can be said that a deal with Wasps COULD make sense COULD work that a new stadium was not ruled out but does it not appear that CA could be at odds with Seppala. It does come across as left hand not knowing what the right hand is doing.

It would be interesting to know what she actually said rather than a sanitised version of events in the minutes. I think most would expect to rule out a merger but shouldn't the question have been are you prepared to work with Wasps long term?

How does the legal action which we are told is nothing to do with CCFC go on to give CCFC its independence? (legals not stopping so more of this crap for some time to come)

So she has no idea as to outcome of the court case other than redemption for the club - what the hell does that mean?

Maddison money - so unlike we were told end of January only part of the Maddison money stays in the pot for the squad. The rest goes where?

Parachute payments are a misnomer aren't they in L1 - how much do you get for coming down from Championship to L1 ?

So had we not been successful of sorts we would have been in an increasingly difficult financial position because based everything on 11000 ave crowd and are spending above that. being out by 3000 equates to being over 500k out on the finances over a year. I thought we were targeted cash flow neutral and had steadied the finances - this doesn't seem too well controlled

The academy is important to the community. But how many academy players are first tem regulars? Unless they become first team regulars their worth is not enhanced. How do you build stable finances on the chance you might bring a "gem" out of the academy each season?

So is she prepared to "invest" rather than fund, if so how?

So with bigger crowds they have put some money in - I assume the £780k rolling finance that has been paid down 500k - put in to make the club self sufficient but it doesn't does it because it is borrowing more money isn't it?

Sorry how does owning our own ground make up for other teams getting parachute payments as well as other incomes. If we got up this or next season we still wont own our ground and I fail to see why Wasps would fall over themselves to release income streams for a short term commitment at the Ricoh. Bournemouth and Swansea might seem like small teams historically but Swansea's turnover in 2015 for instance was 103m of which 85m came from media & 7m from ticket sales hardly small at the moment

there are more questions but I give up....... as usual contradictions and lack of clarity from the owners

The only way forward

1) go for broke throw a load more money at getting into the Prem. Become a yo you club and save a but each year till the debts are clear.

2) win compensation from the Government sufficient enough to clear a lot of the debts and walk away, or do point 1 or use it to build a new stadium.

3) Get the best deal you can get off wasps opening up as much revenue streams as possible. Somehow get into the play off positions in the championship. Sell up and clear as much as the debt as possible.


I would say number three is the most likely to succeed so the negotiation with wasps is vital. Having the new stadium is a threat to use.

However as I have always said to use that as a threat you need to make it believable. I don't think Wasps will believe it as it stands.

You need to know how is it going to be funded. Is that realistic?
How much better off will the club be after it is built compared to the current deal.
Buy some land that would have an impact then sell it once you get the deal you want with wasps.

Offer wasps an incentive based deal so if they open up the access to the revenues the deal stays in situ even when CCFC are the bigger club contributing more to the profits.

 

[chiefdave]

It would be interesting to know what she actually said rather than a sanitised version of events in the minutes. I think most would expect to rule out a merger but shouldn't the question have been are you prepared to work with Wasps long term?

And the same with Anderson. For all we know he also spoke about a new stadium but the CT have chosen to focus on remaining at the Ricoh.