SOMETHING ABOUT JR D (66 Viewers)

[Ashdown]

http://www.coventrytelegraph.net/sp...ws/coventry-city-chairman-tim-fisher-12255903

Here he is again, making waves about 'No guarantees' that young stars won't be sold in January ! And the downward spiral continues !

 

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[torchomatic]

or is it simply a woman scorned scenario with our Joy.

That could also describe Ann "a team should never been moved from its community" Lucas.

 

[torchomatic]

http://www.coventrytelegraph.net/sp...ws/coventry-city-chairman-tim-fisher-12255903

Here he is again, making waves about 'No guarantees' that young stars won't be sold in January ! And the downward spiral continues !

If we're self-sufficient and crowds are poor then what is the alternative? That's why packing out the stadium every week would be good for the Football Club.

 

[Ashdown]

Was wondering, could this be an opportunity for any interested party, if there is one, to move in with a bid for the football club and be public about it. As I see it sisu are in a spot, they may talk big but with this JR1 seemingly dead in the water they either cling on to this JR2 which they surely have doubts about now or continue to bleed money by hanging on to our football club, or is it simply a woman scorned scenario with our Joy.

They're not bleeding any money though now are they ?!

 

[skybluebeduff]

May as well say it's all but confirmed that we're homeless in 2018 if they pursue JR2.

 

[ccfcway]

Do you think they have been advised that this compensation will be bigger at the point it us agreed if they still own the club?

not sure, but as it stands they own a break even asset that sits on their books at a lot higher value that someone is prepared to pay. With that, they have JR2 about to begin, where they will claim damages, which are increasing by the day as the club "dwindles in league one" when it could be thriving if we owned the stadium (that will be their argument if they won)

If they win JR2, they will take the compensation and go.

If they lose, who knows.....

 

[Ashdown]

If we're self-sufficient and crowds are poor then what is the alternative? That's why packing out the stadium every week would be good for the Football Club.

It's the same for every club but at some point you have to try and hold your better players to perhaps challenge at the right end of the table or even avoid the drop. I can see the best talent leaving and a few cheap has beens in = relegation fight , can't you ?! It's what they have done for 5 years now .

 

[torchomatic]

It's the same for every club but at some point you have to try and hold your better players to perhaps challenge at the right end of the table or even avoid the drop. I can see the best talent leaving and a few cheap has beens in = relegation fight , can't you ?! It's what they have done for 5 years now .

Yes, I can. But at the end of the day if we can't pay our bills because we aren't getting the revenue we need then that is what we'll have to do. Sell our best players.

 

[oldskyblue58]

"The aim of the legal action is not yet clear but it is likely Sisu would like to see the deal undone or for compensation to be paid for the negative impact on the football club"

even if (and its a huge if) SISU won JR2 I am not sure how the deal could be unpicked. The court could require CCC to revisit the decision on the sale of its 50% but I doubt it could make the Charity do that, and in any case they may well reach the same decision. It could penalise CCC but any payment of fine would not go to SISU, so even if the shares or lease was sold for undervalue no funds to SISU from the court case .

Then SISU take new court action for damages. They would have to prove they had a right to be offered a deal, that they had a connection to the stadium that gave that right, that it was this decision to sell to Wasps that damaged the club at the time (2014) and since, that they had made their intentions clear etc. They could not I think argue that the sale to Wasps was responsible for the losses before Oct 2014 so that knocks a big hole in any compensation claim

of course by that time, Oct 2014, SISU had broken the CCFC right to occupy the stadium and moved the club away. They had returned as a day renter with limited access to the stadium, their owner had said they would not interfere with the share sale, and the directors past and present repeatedly stated they were going to build their own stadium or partner up at BPA. They had of course argued that there was no value in ACL whilst proceeding with JR1. Would a court really be persuaded that the clubs fall from grace, its financial mess, was down to the sale of the shares and a lease extension? The rights to compensation look to be even more tenuous than under JR1

 

[Nick]

Do you think they have been advised that this compensation will be bigger at the point it us agreed if they still own the club?

It would be good IF (and thats a massive IF) they ever win any compo the judge awarding it says it has to go to and remain in CCFC.

 

[rupert_bear]

They're not bleeding any money though now are they ?!

Well we are about 6000 per home game down on our break even figure and rising that's about £120000 a fortnight down has to be found from somewhere and yes we will probably sell a youngster or two but as I see it there's no Wilsons or Maddisons there yet.

 

[dongonzalos]

not sure, but as it stands they own a break even asset that sits on their books at a lot higher value that someone is prepared to pay. With that, they have JR2 about to begin, where they will claim damages, which are increasing by the day as the club "dwindles in league one" when it could be thriving if we owned the stadium (that will be their argument if they won)

If they win JR2, they will take the compensation and go.

If they lose, who knows.....

It's only breakeven if they sell players and as they do cuts to try to get to break even. The crowds dwindle more and the breakeven point moves away.
They will get to a point where they can't bridge that gap with a player sale.
So why hang onto the club taking that risk.
You don't have to own the club to take the action.

 

[Nick]

http://www.coventrytelegraph.net/sp...ws/coventry-city-chairman-tim-fisher-12255903

Here he is again, making waves about 'No guarantees' that young stars won't be sold in January ! And the downward spiral continues !

Aren't you shouting about NOPM?

That aspect of it makes sense sadly, no money going in, they need to cover losses and pay the bills.

 

[Grendel]

It's only breakeven if they sell players and as they do cuts to try to get to break even. The crowds dwindle more and the breakeven point moves away.
They will get to a point where they can't bridge that gap with a player sale.
So why hang onto the club taking that risk.
You don't have to own the club to take the action.

Its the impact of NOPM - some people seem to get a kick out of it

 

[skybluebeduff]

Its the impact of NOPM - some people seem to get a kick out of it

What a load of fucking bollocks, and you know it too.

 

[Grendel]

What a load of fucking bollocks, and you you know it too.

Every non attender reduces the amount the club can spend. It is a self sufficient club so supporters determine its budget

 

[oldskyblue58]

oh and just a reminder one of the plaintiffs listed on the JR2 is Otium Entertainment Group which trades as CCFC. So that means they may be in for the compensation that may be claimed if JR2 successful but also in for the costs (will be SISU decision as to which entity pays court costs or not)

 

[Ashdown]

"The aim of the legal action is not yet clear but it is likely Sisu would like to see the deal undone or for compensation to be paid for the negative impact on the football club"

even if (and its a huge if) SISU won JR2 I am not sure how the deal could be unpicked. The court could require CCC to revisit the decision on the sale of its 50% but I doubt it could make the Charity do that, and in any case they may well reach the same decision. It could penalise CCC but any payment of fine would not go to SISU, so even if the shares or lease was sold for undervalue no funds to SISU from the court case .

Then SISU take new court action for damages. They would have to prove they had a right to be offered a deal, that they had a connection to the stadium that gave that right, that it was this decision to sell to Wasps that damaged the club at the time (2014) and since, that they had made their intentions clear etc. They could not I think argue that the sale to Wasps was responsible for the losses before Oct 2014 so that knocks a big hole in any compensation claim

of course by that time, Oct 2014, SISU had broken the CCFC right to occupy the stadium and moved the club away. They had returned as a day renter with limited access to the stadium, their owner had said they would not interfere with the share sale, and the directors past and present repeatedly stated they were going to build their own stadium or partner up at BPA. They had of course argued that there was no value in ACL whilst proceeding with JR1. Would a court really be persuaded that the clubs fall from grace, its financial mess, was down to the sale of the shares and a lease extension? The rights to compensation look to be even more tenuous than under JR1

I hope they see it your way now and make an orderly retreat back to Mayfair and come clean with their beleaguered investors about their abject failure !

 

[Nick]

What a load of fucking bollocks, and you know it too.

It really isn't.

If we were getting 30,000 at home and the accounts were showing we made a lot more than we spent but still sold stevenson for example you would have a point.

 

[skybluebeduff]

Every non attender reduces the amount the club can spend. It is a self sufficient club so supporters determine its budget

Why don't you start with how the situation of NOPM started, you know fine well the real reason, you just won't admit it.

 

[skybluebeduff]

It really isn't.

If we were getting 30,000 at home and the accounts were showing we made a lot more than we spent but still sold stevenson for example you would have a point.

How many seasons are you talking about here? How did we get here in the first place, because of NOPM? lmao!!

 

[Nick]

Why don't start with how the situation of NOPM started, you know fine well the real reason, you just won't admit it.

Nobody mentioned how it started.

You can't actively promote "starving the club" and then moan that players get sold to cover the losses.

 

[Ashdown]

Every non attender reduces the amount the club can spend. It is a self sufficient club so supporters determine its budget

We could all live with a self sufficient club if we believed that the custodians of it were not benefitting. Paying 200k to Timmy per annum and whatever other perks,possible tax avoidance, expenses, debt interest and other possibilities are not acceptable. With full transparency a self sufficient model would have to be accepted by the fan base ?!

 

[Nick]

How many seasons are you talking about here? How did we get here in the first place, because of NOPM? lmao!!

No, I am saying it is hardly helping the club is it. Yet it will be some people who promote and go on about NOPM moaning first players get sold.

 

[skybluebeduff]

Nobody mentioned how it started.

You can't actively promote "starving the club" and then moan that players get sold to cover the losses.

Never moaned about player sales, i just won't blame people who have actively funded this club for generations on our plight.

 

[torchomatic]

We could all live with a self sufficient club if we believed that the custodians of it were not benefitting. Paying 200k to Timmy per annum and whatever other perks,possible tax avoidance, expenses, debt interest and other possibilities are not acceptable. With full transparency a self sufficient model would have to be accepted by the fan base ?!

Timmy? Lol . He doesn't get paid by the club, does he?

 

[Grendel]

Never moaned about player sales, i just won't blame people who have actively funded this club for generations on our plight.

And those who no longer attend cannot bitch about budget cuts when that is down to them

 

[Nick]

Never moaned about player sales, i just won't blame people who have actively funded this club for generations on our plight.

Nobody has blamed everything on them have they? Just said NOPM doesn't help with having to cover losses with player sales.

 

[skybluebeduff]

And those who no longer attend cannot bitch about budget cuts when that is down to them

I've attended the equal amount of games this season as the home fans, they probably received about £3 with my trip to Morecombe

 

[Ashdown]

Timmy? Lol . He doesn't get paid by the club, does he?

Pretty sure he came up as a £212k salary in the accounts at some point.

 

[torchomatic]

Pretty sure he came up as a £212k salary in the accounts at some point.

You could be right.

 

[MusicDating]

I don't see why SISU still need to be in charge to pursue JR2. Particularly as it's only going to be compo that they're after.

 

[Nick]

oh and just a reminder one of the plaintiffs listed on the JR2 is Otium Entertainment Group which trades as CCFC. So that means they may be in for the compensation that may be claimed if JR2 successful but also in for the costs (will be SISU decision as to which entity pays court costs or not)

It would be interesting to see if they try and put the costs there, they are persistently saying it isn't so and I don't think has been so far.

Could the judge (IF) awarding anything say if the damage is to CCFC, it must stay with CCFC?

 

[Ashdown]

I don't see why SISU still need to be in charge to pursue JR2. Particularly as it's only going to be compo that they're after.

If its Otium as part of the pursuants and they lose as expected it will be CCFC revenue that pays for it !

 

[oucho]

Is this knock-out blow the CT are reporting (not they also have a picture of the Royal Courts of Justice rather than Supreme Court on their site)?

This may not be the end of JR1 if SISU can request a face-to-face hearing where they put forward their case to have their appeal held (I think the initial request, declined today, was only a written on). If so, exactly the same thing happened when they went to the Court of Appeal.