Nick
Administrator
Even if it's a permanent move to say Northampton? As an example.
SBS&L accounts 2016 (7 Viewers)
- Thread starter oldskyblue58
- Start date
Nick
Administrator
When was there a permanent move last time?
skybluetony176
Well-Known Member
I'm finding it harder and harder to not disagree with that view point.
Captain Dart
Well-Known Member
Someone posted Port Vale as a ground share on the CT website. On what information I don't know.
Nick
Administrator
As full time permanent?
Captain Dart
Well-Known Member
Go and read it yourself.
Nick
Administrator
As an article or a comment?
If Sisu are looking for move again Nuneaton will be the target. They are not concerned about the status of the playing side, they just need to keep the club afloat to pursue the goal they are chasing.
They have told us this, whatever level, whatever status they will cut their cloth accordingly. It's ok saying fans staying away are just hurting the club Sisu have been doing that for years with or without our help.
They have told us this, whatever level, whatever status they will cut their cloth accordingly. It's ok saying fans staying away are just hurting the club Sisu have been doing that for years with or without our help.
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fernandopartridge
Well-Known Member
They're not turning to stripping to make ends meet I hope
fernandopartridge
Well-Known Member
See my post above
oldskyblue58
CCFC Finance Director
What does irk me is the local press headlines saying the SBS&L group made a profit. They simply did not. You cannot ignore the interest liability. It is either due or it isn't. If it is due then it forms part of the reportable results ie we made a loss. It is irrelevant that it is due to shareholders or that it hasn't been paid out yet. The only way it can be excluded is if the entities making the loans waive or write off the interest due.
If you are going to adopt a principle of ignoring entries perhaps we should be concentrating on results before player sales?(I don't advocate that btw - you have to look at the whole picture) The newspaper headlines are misleading surely?
Also all creditors including the shareholder loans are classed as being due within 1 year of the balance sheet date ie 31/05/2017 how does that square with the going concern considerations which go to 28/02/2018. If the owners have no intention of calling the loans in then surely they become classified as due more than 1 year from the balance sheet date? Otherwise there is a contradiction between the classification and the going concern assurances isn't there?
Scarey to think what the profit and more importantly the cash flow implications were of not selling Maddison in the January 2016 window.
If you are going to adopt a principle of ignoring entries perhaps we should be concentrating on results before player sales?(I don't advocate that btw - you have to look at the whole picture) The newspaper headlines are misleading surely?
Also all creditors including the shareholder loans are classed as being due within 1 year of the balance sheet date ie 31/05/2017 how does that square with the going concern considerations which go to 28/02/2018. If the owners have no intention of calling the loans in then surely they become classified as due more than 1 year from the balance sheet date? Otherwise there is a contradiction between the classification and the going concern assurances isn't there?
Scarey to think what the profit and more importantly the cash flow implications were of not selling Maddison in the January 2016 window.
Nick
Administrator
I didn't get how it was pushed as a profit and what that would achieve?
fernandopartridge
Well-Known Member
The headlines will focus on it as profit so they can have many people clicking on the story and then dreaming up rubbish theories like SISU creaming those profits off to the Cayman Islands.
As much as I hate reading it because it hurts, I prefer to see the proper analysis undertaken by osb. The club is practically insolvent with no light at all at the end of the tunnel.
clint van damme
Well-Known Member
has Jon Sharpe not categorically stated he doesn't want to deal with sisu?
SkyblueBazza
Well-Known Member
Someone earlier asked OSB to put it in a nutshell...allow me - we have been shit, we are currently really shit & moving forward...we are going to be shittier & more shit upon
...onwards & upwards PUSB
...onwards & upwards PUSB
dongonzalos
Well-Known Member
Hate optimists
Fergusons_Beard
Well-Known Member
Brilliant OSB & thankyou.
One point not mentioned is that if you are an investor in he Hedge Fund 10% interest is pretty damn good given current interest rates.(I presume allowing for admin costs it would still be high).
So even when club doing shit the investors still getting a payout and SISU still fulfilling that obligation.
No pressure from investors to sell if they still getting a reasonable return. Like most have said on here SISU don't give a fook about the club as long as they able to give their investors a decent interest rate.
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One point not mentioned is that if you are an investor in he Hedge Fund 10% interest is pretty damn good given current interest rates.(I presume allowing for admin costs it would still be high).
So even when club doing shit the investors still getting a payout and SISU still fulfilling that obligation.
No pressure from investors to sell if they still getting a reasonable return. Like most have said on here SISU don't give a fook about the club as long as they able to give their investors a decent interest rate.
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Nick
Administrator
That's only if they actually get paid the interest though isn't it? Otherwise it's just a number on a bit of paper to an investor rather than money in their wallet.
dongonzalos
Well-Known Member
If our debt increases year by year due to interest. I assume someone is getting paid.
Genuinely don't understand it all. So just have to assume that someone is making money while the debt of CCFC goes up.
dongonzalos
Well-Known Member
Hypothetically then, if you lent CCFC 10 million. If you charge 2 million a year interest. After 5 years you get your money back, yet the 10 million debt still stands. You also you put a charge on land of value so if the business goes bust you also get your 10 million on top.
Nick
Administrator
Surely you only get your money back if the interest can actually be paid?
Rusty Trombone
Well-Known Member
Maybe they only include the high interest figures so that people concentrate their anger there, rather than on the high Director payments that are being charged despite abject failure. I wonder what Deering does for any money she gets.
chiefdave
Well-Known Member
I would guess she has replaced Onye (was that his name?) as the SISU representative who reports back to Joy.
Rusty Trombone
Well-Known Member
According to Companies House she lives in South Africa, must spend a fortune on phone costs. Or stamps. Maybe Joy doesn't trust Tim to pass on any relevant info.
dongonzalos
Well-Known Member
isnt it paid once it is added to CCFC's debt?
So if our debt goes up because of paying interest. Then haven't they received that interest?
Rusty Trombone
Well-Known Member
If they paid it it wouldn't be added to the debt.
But does it accrue as a return in the figures presented to the investors?
dongonzalos
Well-Known Member
If I pay interest on my mortgage and it comes out of my overdraft it is added to my debt.
(I take it we are just not paying it at all then)
Rusty Trombone
Well-Known Member
I'd have thought anyone directly loaning the club money know they are very unlikely to get much of their money back.
Rusty Trombone
Well-Known Member
I believe the accounts showed £25k interest was actually paid out on one loan, and around £50k on another loan. The rest of the interest that hasn't actually been paid gets added to the amounts owed.
Does your overdraft increase in line with the amount of your mortgage interest payment?
If not at some point you must be paying the interest
dongonzalos
Well-Known Member
My point was you can be paying interest whilst increasing your own debt.
People were saying we were not paying it because if we were it wouldn't be debt.
However you can pay interest to ARVO by increasing the debt for CCFC.
However Rusty has since pointed out that we have only actually paid 75k in interest that year.