Grendel
Well-Known Member
He is a publicity seeker. He "tried" to buy 3 clubs and ended up buying none.
Sisu gone on Monday? Yanks are coming! (23 Viewers)
- Thread starter eastwoodsdustman
- Start date
He is a publicity seeker. He "tried" to buy 3 clubs and ended up buying none.
Grendel
Well-Known Member
He was allegedly interested in buying ACL - he didn't make an offer in the end.
Kingokings204
Well-Known Member
Yeah I agree with all that. I don't like him as such but the club is worth £1 but Dependant on the debt. Is it 30-35m to arvo/sisu as it stands?
Captain Dart
Well-Known Member
No one is going to pay that back. SISUs own doing, SISU's problem.
Daddy was a minority shareholder in the Jacksonville Jaguars (NFL). The Jaguars play at a stadium that's owned by the City of Jacksonville.
Otis
Well-Known Member
oldskyblue58
CCFC Finance Director
Otium is worth very little probably £1 currently. Anyone coming in has to cover 3 things financially,
- the amount to settle out ARVO (I suspect that Sconset took on the 5 original funds for a pittance so whilst in SBS&L accounts it says £28m it actually cost Sconset next to nothing to pay out the other funds. Settling Sconset might not be much of a problem because the losses have been taken already by previous investors). 31/05/15 ARVO were owed 8.1m plus interest.
- Working capital just to keep the day to day running of the company going - paying bills on time, operating as a proper football team behind the scenes
- A certain amount of investment money to squad build and keep us in L1 first off but hopefully better
Any deal would have to be a clean break imo - which means the issue of the preference shares will need to dealt with, together with loan interest settlement
Then they need to start making partnerships to make it all work
- the amount to settle out ARVO (I suspect that Sconset took on the 5 original funds for a pittance so whilst in SBS&L accounts it says £28m it actually cost Sconset next to nothing to pay out the other funds. Settling Sconset might not be much of a problem because the losses have been taken already by previous investors). 31/05/15 ARVO were owed 8.1m plus interest.
- Working capital just to keep the day to day running of the company going - paying bills on time, operating as a proper football team behind the scenes
- A certain amount of investment money to squad build and keep us in L1 first off but hopefully better
Any deal would have to be a clean break imo - which means the issue of the preference shares will need to dealt with, together with loan interest settlement
Then they need to start making partnerships to make it all work
chiefdave
Well-Known Member
If you were Joy's accountant what would be the amount someone would need to bid for you to advise her to sell?
D
Deleted member 5849
Guest
As an aside, don't think accountancy comes into this really. This is about playing a game as much as anything.
Broken Hearted Sky Blue
Well-Known Member
So ball park figure OSB to get them to leave no debt
oldskyblue58
CCFC Finance Director
just an opinion but whatever it takes to settle ARVO - anything down from £8m.
However that depends on what SISU's objectives are (the biggest unknown in all this) - it may be they have no desire or need to sell
However that depends on what SISU's objectives are (the biggest unknown in all this) - it may be they have no desire or need to sell
I was thinking more along the lines of the family have a history of owning part of a sports club that doesn't own it's own stadium.
Anyway, for the paranoid surely 'Jaguar' is more of a coincidental link.
oldskyblue58
CCFC Finance Director
it might set the lower limit of what ARVO were prepared to accept
fernandopartridge
Well-Known Member
FOR SALE: Training ground with planning permission for housing. Included in sale is 3rd division football team.
rupert_bear
Well-Known Member
A bit like sisu then, they got one in the end, us, What's your opinion of them ?
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Nick
Administrator
Captain Dart
Well-Known Member
They are never going to clear that, their choices are....
a) accept defeat and sell for a nominal amount based on Ryton, Golden Share, player assets, no investor will pay full price while SISU are on the ropes, I'm thinking £500K and no residual debt and maybe a bonus if the new owners get promotions within 5 years. New owners will have to do careful due diligence to make sure there are no debts to pop out of the woodwork in a few years time.
b) soldier on to try & find new investors meanwhile run club at break even (which means relegation this season) and hope the court case bears fruit
I do not think anyone local will now deal with them all the bridges are burnt. Seriously option a is their only realistic choice, but Joy may not live in the real world.
Nick
Administrator
Running at break even doesn't mean 100% relegation. The squad as is now is by no means a relegation squad.
skybluetony176
Well-Known Member
He's another SISU then.
dongonzalos
Well-Known Member
I would hope you wouldn't touch this club unless you had something agreed with Wasps and the Council first.
Not unless you are a billionaire
Captain Dart
Well-Known Member
Won't split.
Captain Dart
Well-Known Member
Wait till the Jan window
Nick
Administrator
Wait till the Jan window
Why? Is Mowbray going to say we need to bring in a tough tackling centre mid and bring in a 7 stone winger or something?
Captain Dart
Well-Known Member
Derrrr.. I mean Willis (or any other realisable asset) could be off. Do keep up.
D
Deleted member 5849
Guest
Which is exactly why you'd think we'd learn from welcoming false Gods, wouldn't you.
dongonzalos
Well-Known Member
Did he submit a bid to buy the club?
skybluetony176
Well-Known Member
I think the majority of us considering the last 8+ years will be very cautious of our next owners regardless of how relieved we might be to see the back of SISU. I know I will be anyway.
D
Deleted member 2477
Guest
Unless your a city fan why would anyone want to buy us over any other club in the efl.
You get nothing for your moneyother than a big hole in your pocket for no return without spending a fortune
You get nothing for your moneyother than a big hole in your pocket for no return without spending a fortune
D
Deleted member 5849
Guest
Sometimes I worry though. The desperation to be rid of SISU seems to enable a frenzy that allows others' failings to be glossed over. It'd be horrific if some day they left and we welcomed in a total shyster when... we had no reason to.
Nick
Administrator
People seem willing to kill the club to get rid, saying liquidation is better etc.
chiefdave
Well-Known Member
Not uncommon in the States for the stadiums to be publically funded. Hopefully any potential American owner realises we're an exception over here and accounts for it in their plans.
But this could actually do us a favour - Americans may not be put off investing due to us not owning our own ground.
Kingokings204
Well-Known Member
But that's the point OSB in that ccfc are not break even and sisu are on the ropes. In the end they will have to do something. They can't keep just ticking along?