Sky Blue Kid
Well-Known Member
Try asking OSB58 yourself. You might get the answer you don't want from the expert.
JR2 (26 Viewers)
- Thread starter Willo The Wisp
- Start date
Nonleagueherewecome
Well-Known Member
When I was a lad you had to build the computer and write the language for it yourself first, in your spare time after your 20 hours down t'pit. And you try telling kids today that now, they won't believe you...
Sky Blue Kid
Well-Known Member
Tell me one thing.... What part of the word PLAINTIFF don't you understand?
PS. In future, Don't shoot the messenger!
chiefdave
Well-Known Member
Above Otium you'd have Arvo. They're registered in the Caymens so not as easy to get info on but I think we know that's a Sepalla controlled company.
The problem we have is Otium is now operating as its own entity.
So lets say the annual cost of running the club (that's the cost of everything) is £5m (know that's not correct just trying to use easy figures). We need £5m to come in to break even. Some of that comes from the FL / FA via Sky etc. Some of it comes from fans buying tickets.
Lets say tickets is 50% so £2.5m. Now lets say 80% of supporters stop going next season so its only £.5m. We now have costs of £5m and income of £3m so the £2m shortfall will be made up by cutting the player budget and selling players. That will almost inevitably lead to a further relegation.
Then we're non league and have no contract at the Ricoh. Move to the Butts and even on very small crowds Otium can remain self sustaining pretty much indefinitely.
That's why NOPM or any sort of boycott will never work. Its impossible to have 100% boycott and not all income comes from fans so the budget will just be cut and the downward spiral continues.
skyblueinBaku
Well-Known Member
Sky Blue Sports & Leisure are in there too, aren't they?
Where does this say "Otium"?
Simon says :
A spokesperson said: “We can confirm that following the conclusion of the Judicial Review last December in the Council’s favour, the Council has now received notification that Sisu intend to pursue their second Judicial Review claim relating to the sale of the Council’s shares in ACL and the lease extension on the Ricoh Arena to Wasps.”
I
I am sure I can account for myself very much as OSB can for himself
oldskyblue58
CCFC Finance Director
Too many angry people. Its not worth explaining why some things are important to understand over and over. So I wont I give up.
If SISU or ARVO went bust? The SISU investors loans are held in separate funds controlled by SISU. As such they are ring fenced against SISU going bust in much the same way that any losses in the fund are not SISU's. A liquidator would look to sell the fund on, however I see no sign in the latest figures of them going bust. Could CCFC finances make them? I doubt it, we are not their only investment
ARVO going bust might be slightly different not because of the shares they own but because of the loan debenture they have over the assets of the football club. A liquidator would have to call the loans in. That said I get the impression there is serious money in the ARVO fund and CCFC loans are a small part.
The last JR took over 3 years to get to the Supreme Court........................... not sure I can stand three more years of SISU ownership
If SISU or ARVO went bust? The SISU investors loans are held in separate funds controlled by SISU. As such they are ring fenced against SISU going bust in much the same way that any losses in the fund are not SISU's. A liquidator would look to sell the fund on, however I see no sign in the latest figures of them going bust. Could CCFC finances make them? I doubt it, we are not their only investment
ARVO going bust might be slightly different not because of the shares they own but because of the loan debenture they have over the assets of the football club. A liquidator would have to call the loans in. That said I get the impression there is serious money in the ARVO fund and CCFC loans are a small part.
The last JR took over 3 years to get to the Supreme Court........................... not sure I can stand three more years of SISU ownership
Nick
Administrator
People surely need to try and understand who harms what and how things work before thinking up any protests and schemes though!
Fans need to get understanding of things like that as much as possible or listen and take on board stuff from people who do.
clint van damme
Well-Known Member
for someone whose head spins when I read these post OSB58 could sisu walk away from CCFC and still pursue JR2 and what would the benefit be of pursuing it while still being in control of the club?
oldskyblue58
CCFC Finance Director
They could I think but then that would leave new owners of Otium being able to benefit or carry the cost of JR2 unless some arrangement made. I think at the moment they need to retain CCFC to prove the link and on going cost and financial damage being done to the investment.
The JR itself wont get ARVO, SBS&L or Otium much if anything at all, it would be the claim for compensation afterwards - which would include the cost of CCFC's fall from grace in addition to the investors perceived losses. Look at the debt and preference shares built up, yes it offers protection against buyers but it also offers ways to extract funds should court cases be successful.
The other thought is that they are holding the club to ransom hoping that CCC offer payment to go away and take the court cases with them....... but that's never going to happen
The JR itself wont get ARVO, SBS&L or Otium much if anything at all, it would be the claim for compensation afterwards - which would include the cost of CCFC's fall from grace in addition to the investors perceived losses. Look at the debt and preference shares built up, yes it offers protection against buyers but it also offers ways to extract funds should court cases be successful.
The other thought is that they are holding the club to ransom hoping that CCC offer payment to go away and take the court cases with them....... but that's never going to happen
D
Deleted member 5849
Guest
Well I have to say I personally will welcome JR2 starting.
The sooner it starts, the sooner it can be resolved one way or another.
The sooner it starts, the sooner it can be resolved one way or another.
D
Deleted member 5849
Guest
Who can!
If it doesn't start ASAP however, could be considerably more than three years of ownership.
Sooner it gets done and dusted, sooner we can move on... hopefully.
italiahorse
Well-Known Member
Or do what the majority have done and just walk away.
clint van damme
Well-Known Member
so it looks like we're stuck with them for the foreseeable future?
Sky Blue Kid
Well-Known Member
OSB58. Do me a favour and tell oldfiver what your quote of Otium/CCFC being Plaintiffs mean please, I've got a headache.
Sky Blue Kid
Well-Known Member
I won't be getting an apology then?... Thought if you were wrong, then you'd admit it!
Nick
Administrator
What have I said that's wrong? I haven't got hours spare today so make it quick.
Sky Blue Kid
Well-Known Member
How about not butting in on a post and making out I'm the one with the problem. It was Oldfiver making the negative post not me. yet you ask me questions instead of the one you should have approached!.... Once again proving that you never read things properly!
Nick
Administrator
Again, what was I wrong about?
If anything, my post was agreeing with you wasn't it that if the name is on the legal paperwork it can't be denied?
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Skyblueweeman
Well-Known Member
Annnnnnnnnnd, there off....
Sent from my iPhone using Tapatalk
Sent from my iPhone using Tapatalk
hill83
Well-Known Member
Sky Blue Kid
Well-Known Member
Not wether you were wrong or not, it should have been Oldfiver you reply to not me!
Sky Blue Kid said: ↑
Tell me one thing.... What part of the word PLAINTIFF don't you understand?
PS. In future, Don't shoot the messenger!
Where does this say "Otium"?
Simon says :
A spokesperson said: “We can confirm that following the conclusion of the Judicial Review last December in the Council’s favour, the Council has now received notification that Sisu intend to pursue their second Judicial Review claim relating to the sale of the Council’s shares in ACL and the lease extension on the Ricoh Arena to Wasps.”
Sky Blue Kid said: ↑
Tell me one thing.... What part of the word PLAINTIFF don't you understand?
PS. In future, Don't shoot the messenger!
Where does this say "Otium"?
Simon says :
A spokesperson said: “We can confirm that following the conclusion of the Judicial Review last December in the Council’s favour, the Council has now received notification that Sisu intend to pursue their second Judicial Review claim relating to the sale of the Council’s shares in ACL and the lease extension on the Ricoh Arena to Wasps.”
Sent to both of you! :emoji_thumbsup:
Otis
Well-Known Member
I used to go out with a girl called Tiffany. She used to work behind a bar.
She wasn't that good looking, but had a great sense of humour, so I suppose you could call her a PLAIN TIFF.
Sky Blue Kid
Well-Known Member
SBK says...... Everybody loves OSB58 and believes what he says.... Start believing............................ Quoting OSB58............... "What is also unarguable is that Fisher can no longer say that the club is not involved in the legal actions because Otium which trades as the club CCFC is named as a plaintiff and is very much involved."......
PS. Note!..... SBK also says..... You're a blind c**t!
Wasn't negative - I asked a question and you have ducked the answer
Show us a copy of the Court papers and then I will accept your statement.
Don't drag poor OSB in to this - unless he has the Court papers to answer YOUR assertion :emoji_cold_sweat:
hill83
Well-Known Member
I thought of posting something similar to that, but though it was too shit to bother plus I knew you would post it anyway.
Sky Blue Kid
Well-Known Member
Do you actually know what the word QUOTE means?
IT means the words that OSB58 has written down and posted on this forum, I've copied word for word and shown this exactly as he wrote it.... Definition of the word QUOTE
Well when he produces the court papers with the plaintiffs on we will all know
But then maybe - just maybe - he cannot or might even be wrong
But the quote might be wrong? Ever thought of that?
Only asked a question - nothing more than that
She had to have a great sense of humour to go out with you
I refuse to join any club that would have me as a member.