Otis
Well-Known Member
You rang?
The mammoth sum Coventry City owners Sisu would need to walk away without loss (15 Viewers)
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You rang?
italiahorse
Well-Known Member
I've spent all morning analysing this information along with the accounts for the last 10 years.
After taking everything into account I've finally come to a conclusion .... we are fukced.
After taking everything into account I've finally come to a conclusion .... we are fukced.
Would only need to be a couple of quid in your case Otis :emoji_relaxed:
All in jest old chum - of course
oldskyblue58
CCFC Finance Director
" To suffer no loss on balance sheet they would need £101m. But Sisu haven't invested £101m" Mr Gilbert on Twitter
Errr nonsense the only loss they can make is against the investment or loan they have actually made. How it sits in the group situation is irrelevant. The preference shares cost them nothing in the first place so if they get nothing for them then where is the loss or for that matter profit
Just to add as SISU investors do not have a direct investment in any shares in Otium it would be ARVO & SBS&L that would take any immediate balance sheet loss. But like I said when a loan costs you nothing but accountants fees the actual or potential loss is ? See previous post as to how the "loans" then shares came about
Errr nonsense the only loss they can make is against the investment or loan they have actually made. How it sits in the group situation is irrelevant. The preference shares cost them nothing in the first place so if they get nothing for them then where is the loss or for that matter profit
Just to add as SISU investors do not have a direct investment in any shares in Otium it would be ARVO & SBS&L that would take any immediate balance sheet loss. But like I said when a loan costs you nothing but accountants fees the actual or potential loss is ? See previous post as to how the "loans" then shares came about
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Otis
Well-Known Member
Couple of quid? Outrageous!!!Would only need to be a couple of quid in your case Otis :emoji_relaxed:
All in jest old chum - of course
I have £27.55 in my account and an AK47 new £5 note!
SkyBlue_Bear83
Well-Known Member
Interest is being accrued but not paid out i think on the loans Sisu made to the club. So basically every passing year the debt to Sisu increases without any chance of the club being able to afford to pay it off.
So it isn't being taken out of the club accounts, but it goes on the balance sheet as increasing debt every year.
I know nothing about accounting so this is all what i learned on here so could be wrong.
skybluebeduff
Well-Known Member
He gets into bed with the group, he spreads his mess everywhere, leaves a bombshell, then runs off and never answers your calls. He's a journalistic whore who spreads his STD's everywhere. All metaphorically speaking.
Nick
Administrator
I have noticed he has found another one he is trying to promote
His account is still active on here if he wanted to reply...
italiahorse
Well-Known Member
The more we owe Sisu the more they will want to keep us, it seems.
Why can't they just give us away to someone who wants to make a go of it and save themselves £11M a year ?
Am I missing something in respect of they can actually use this loss/debt in a positive way in their overall portfolio ?
Nick
Administrator
Surely to save themselves 11m a year they actually have to be putting in 11m a year?
Grendel
Well-Known Member
Thought they'd be gone soon, wasps take over and we all live happily ever after in the JLR stadium,
skybluebeduff
Well-Known Member
He doesn't like being questioned so he'll never reply, the more groups on social media who kick him out, the better, maybe the CET might wake up a bit then.I have noticed he has found another one he is trying to promote
His account is still active on here if he wanted to reply...
Brylowes
Well-Known Member
It's louder than that Otis, it keeps me awake some nights.
Esoterica
Well-Known Member
It's not a death knell. Just Mark Robins repeatedly banging his head on his tactics board as the realisation kicks in.
italiahorse
Well-Known Member
They have been putting money in each year and also not taking the interest which I read as sort of putting it in.
I'm assuming the article (rightly or wrongly) is dividing the total amount put in since Sisu have been here and divided it by the number of years to get that.
They are certainly putting some money in to keep us going so why not just save that money by giving us away?
It's probably hoping something comes out legally or 'somehow' it is a positive on their overall portfolio but from where I see it why bother ?
italiahorse
Well-Known Member
They will go eventually when we hit rock bottom but it won't be soon by the sound of it.
You are correct on the rest
Grendel
Well-Known Member
They will go eventually when we hit rock bottom but it won't be soon by the sound of it.
You are correct on the rest
Why wait? Such a popular brand as wasps must have a queue of sponsors banging at the door. Why are they losing out on all that revenue do you think?
Brylowes
Well-Known Member
Yep, I really need to get a grip and move out of that broom cupboard at the Ricoh.
D
Deleted member 5849
Guest
To quote my auditor friend on accounts a season or two back.
'Fucking hell, your club's fucked, it's fucking fucked. Why the fuck is it still trading?'
I've accepted that as a suitable summing up of our position for a while.
rupert_bear
Well-Known Member
What is rock bottom though ? Non league ? Because that's where we are heading could be as soon as next year if this ground situation ain't sorted.Then what does Sepalla do about her 40 or is it 100 million then. I am beginning to think. a Phoenix club yes even jumping into bed with Coventry United is becoming the only way, better than starting 9 leagues down the pyramid.They will go eventually when we hit rock bottom but it won't be soon by the sound of it.
You are correct on the rest
Nick
Administrator
They aren't putting £11m in a year or anything close to it and haven't when you times it by the years they have been here.
What you doing with an AK47 ? :emoji_scream:
italiahorse
Well-Known Member
The headline of the original post is correct.
Whether its £100M, £28M or my estimate, based on limited understanding, £56M it's still a big amount that seems to be making Sisu wait for something extraordinary to happen !!
Nick
Administrator
Ah, to confirm I meant on the CET article! I'll edit it!
hill83
Well-Known Member
And he's got lego hair
oldskyblue58
CCFC Finance Director
in the present set up - yes pretty much. Doesn't matter if its £101m or £31m any business other than a football club would have gone bust long ago
letsallsingtogether
Well-Known Member
That's the way I see it.
Broken Hearted Sky Blue
Well-Known Member
Don't go have you no staying power man
oldskyblue58
CCFC Finance Director
Directors remuneration
There is 115,500 paid Otium accounts and £100k in SBS&L
I am assuming the following
Waggot paid as director from 01/06/2015 to 06/11/2015
Fisher is no longer paid apparently but I assume he was paid from SBS&L.
M Venus wasn't appointed director until after the year end
Anderson appointed 02/12/2015 so he went through to the year end
Deering director of SBS&L from 07/04/2016 but SISU employee
So I think it safe to say the only paid directors were Waggott then Anderson in Otium (effectively one annual figure) and Fisher by SBS&L
It isn't divided 4 ways in Otium
There is 115,500 paid Otium accounts and £100k in SBS&L
I am assuming the following
Waggot paid as director from 01/06/2015 to 06/11/2015
Fisher is no longer paid apparently but I assume he was paid from SBS&L.
M Venus wasn't appointed director until after the year end
Anderson appointed 02/12/2015 so he went through to the year end
Deering director of SBS&L from 07/04/2016 but SISU employee
So I think it safe to say the only paid directors were Waggott then Anderson in Otium (effectively one annual figure) and Fisher by SBS&L
It isn't divided 4 ways in Otium