Colin Steins Smile
Well-Known Member
The interesting element is the rate of interest that is charged for those loans. Some would consider it excessive?
Fisher (7 Viewers)
- Thread starter PurpleBin
- Start date
thekidfromstrettoncamp
Well-Known Member
What is it?
Colin Steins Smile
Well-Known Member
There have been a number of figures quoted, but OSB would probably be the best person to advise from the last set of audited accounts.
Grendel
Well-Known Member
It’s accrued not paid isn’t it?
dazed&confused
Well-Known Member
Semantics. Both situations reduce the club's net assets. And leave the club poorer. If I suddenly announced that you owed me £1 million but you didn't actually pay me the money immediately, would you console yourself with the thought that it was 'accrued not paid'?
Grendel
Well-Known Member
Yes no money is being paid and it would be me lending the money to myself.
skybluetony176
Well-Known Member
I thought SISU/ARVO wasn’t the club. Are we back to them being the club again.?
Grendel
Well-Known Member
No Tony they own the club in the same way TATA own JLR - they are not the club.
dazed&confused
Well-Known Member
No. As Nick loves to point out, the club-OTIUM/SISU/AVRO are all SEPARATE LEGAL ENTITIES and they are therefore NOT lending money to themselves. Sorry.
Grendel
Well-Known Member
They essentially are as they are the entity that owns the club
dazed&confused
Well-Known Member
No. They aren't. The whole RICOH rent fiasco proved that no one in the club's hierarchy or the law believes that. I think your heart's in the right place, but you are very naive.
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Grendel
Well-Known Member
Eh? It proved the opposite. The administration process showed the stranglehold the ownership base had on the club
skybluetony176
Well-Known Member
What interest do TATA charge JLR on money they loan them?
oldskyblue58
CCFC Finance Director
interest on the ARVO loan 2017 was 1.167m on capital borrowed 5.986m ............. that is around 19.5%
Hasn't been paid out, it has been accrued
Hasn't been paid out, it has been accrued
dazed&confused
Well-Known Member
You're not an accountant, are you? The club's legal ownership structure gives someone great/total control, but the separate legal entities argument still allows them to walk away from debts accrued by group companies. The accrued interest will appear as an asset somewhere else in the ownership web. That someone else is richer and we are poorer.
oldskyblue58
CCFC Finance Director
Ok my tuppence
I have no sympathy for Fisher, he made his bed and has to lay on it. The improvement has been that he is seen but not heard
Do SISU provide a budget? from what I see they are lenders of last resort who put in on average 500k per annum when cash flow has fallen short ...... and then take back at least some of that as soon as cash flow permits. The club budget is based on what the football operation can source or generate (ticket sales sponsorship prize money and player sales etc) it is not based on what SISU provide.
They got lucky in appointing MR ............. they made many strange and costly appointments before that. Lets face it L2 was poor and we should have been challenging whoever was manager. MR has done a decent job. Boddy has done some good things but has it been anything major? I do not see that he has say so on the major issues. His role is to allow a public perception of positivity for Fisher & SISU to hide behind.
SISU have not changed in their objectives or actions as far as I can see. The euphoria of rare achievement masks the reality when it comes to our owners
I have no sympathy for Fisher, he made his bed and has to lay on it. The improvement has been that he is seen but not heard
Do SISU provide a budget? from what I see they are lenders of last resort who put in on average 500k per annum when cash flow has fallen short ...... and then take back at least some of that as soon as cash flow permits. The club budget is based on what the football operation can source or generate (ticket sales sponsorship prize money and player sales etc) it is not based on what SISU provide.
They got lucky in appointing MR ............. they made many strange and costly appointments before that. Lets face it L2 was poor and we should have been challenging whoever was manager. MR has done a decent job. Boddy has done some good things but has it been anything major? I do not see that he has say so on the major issues. His role is to allow a public perception of positivity for Fisher & SISU to hide behind.
SISU have not changed in their objectives or actions as far as I can see. The euphoria of rare achievement masks the reality when it comes to our owners
Sisu and Fisher are toxic.
They will forever be associated with the lowest of the low (by their friends ye shall know them)
and the antithesis of what binds society and community; divisiveness, cynicism and dishonesty.
They were booed yesterday and deservedly.
They will forever be associated with the lowest of the low (by their friends ye shall know them)
and the antithesis of what binds society and community; divisiveness, cynicism and dishonesty.
They were booed yesterday and deservedly.
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CovUpNorth
Well-Known Member
I heard a few yesterday.
dazed&confused
Well-Known Member
As an accountant myself, I've always liked the SINGLE ECONOMIC ENTITY concept which explains why groups of companies produce consolidated accounts, despite them technically being SEPARATE LEGAL ENTITIES. Funnily enough, it's the argument that you are trying to use now. Unfortunately, the law has not caught up with us.
ashbyjan
Well-Known Member
Fisher is the chief architect of our downfall along with an owner who does not care one iota about the club except as an irritation and vehicle for potential legal actions. The club has generated its own revenue and (for once) invested in wisely in Robins and some players good enough to get out of the 4th Division. Whilst I, along with thousands of others, enjoyed yesterday in the cold light of day it was simply repairing the damage done 12 months ago and dragging us back to the dizzying heights of the 3rd Division. The argument about self sustainability and fan ownership are basically the same - they work at lower league level ie League 1 and 2 but in the championship to be competitive you have to invest and potentially lose millions chasing the promise of real riches in the Premiership. If a club is simply spending what it generates then the ownership is immaterial be it a hedge fund putting nothing in or supporters owning it and putting nothing in but to be truly ambitious and challenge at a higher level real investment and the risk of losing a fortune is the reality of modern football. Under SISU we will never be competitive in that scenario and as long as they are not prepared to cut their losses, like Ellis Short did at Sunderland by writing off the debt, the club will stay in League 1 and 2 or maybe even gain a short lived promotion to the Championship where it will be uncompetitive and return straight back down again.
We have nothing to thank SISU and Fisher for - quite the opposite in fact so, I for one, laughed when they were booed and it rounded off a very enjoyable day
We have nothing to thank SISU and Fisher for - quite the opposite in fact so, I for one, laughed when they were booed and it rounded off a very enjoyable day
skybluetony176
Well-Known Member
Been watching MR’s post match comments on line this morning and he didn’t mention our owners at all from what I’ve watched. He did thank the fans though and say it’s 100% for us. Sounds like MR has sussed them out also.
I'm guessing the next thing on their agenda now will be the summer court action. A push to sell Season Tickets is fairly normal but lets hope it's not all done then half of MR's team are sold on to balance the books again at the end of the transfer window when we will struggle to replace them. It was a great day yesterday and made me proud again to be amongst such fantastic support and it shows once again the potential for the football club under the right owners.
As many were saying around the pubs afterwards though..........despite the Euphoria you just feel like we could be all getting a slap in the face again soon from SISU as Joy once again demands the pencil be sharpened.
I for one will just try and savour this for a few weeks and hope that we have been put in the spotlight for possible investors.
As many were saying around the pubs afterwards though..........despite the Euphoria you just feel like we could be all getting a slap in the face again soon from SISU as Joy once again demands the pencil be sharpened.
I for one will just try and savour this for a few weeks and hope that we have been put in the spotlight for possible investors.
Jim whites just been on talk sport interviewing fisher after the game yesterday, asked him if money will be available to robins next season an said “ our budget will make things interesting “ they budgeted for league one and staying in league 2, and sisu are commited to getting us up through the leagues,asked fisher about him being booed when he came up on the screen and said “ it was unfortunate “
Terry Gibson's perm
Well-Known Member
Unfortunate is what we are that his dad didn’t pull out, yesterday is what the prize twat should have expected
Mucca Mad Boys
Well-Known Member
Some interesting comments here. Hopefully, there's substance to this and it's not just 'hot-air'.
Coventry City FC news: SISU ‘in no mood’ to sell Sky Blues following promotion to League One
Coventry City FC news: SISU ‘in no mood’ to sell Sky Blues following promotion to League One
Sky Blue Pete
Well-Known Member
Good article but the guy has no credibility
Nick
Administrator
Actions speak louder than words, will see when we start in the transfer window.
ashbyjan
Well-Known Member
Here's hoping he crawls back under whatever rock he has been hiding for the past 12 months and lets Robins and Boddy just get on with the job. Bridges have started to be built between the fans and the club and his reappearance will destroy that in a heartbeat. We are on a fragile upward trajectory and his input and persona is not needed now or ever. It will be bad enough when the JR nonsense goes to court (again) and the rabid NOPM CT posters try to whip up hysteria without him upsetting the rocky applecart.
Mucca Mad Boys
Well-Known Member
Agreed. I’m not going to get all excited about a few words from Tim Fisher, but it’s worth sharing on here.
Based on last season, I’m inclined to say believe the rhetoric. Robins received a lot of support from the board and we gave it a go this season and thankfully, we got promoted.
We’ve got a squad packed full of talent with a few players that will play Championship and beyond, so let’s try give them an environment to take us up!
D
Deleted member 5849
Guest
Monday, Checkatrade, and first game back at Ricoh all show we can draw a crowd. That's got to be a good thing for if and when we end up for sale.
ccfcway
Well-Known Member
yesterday was a side show for them, their real match days continues in the court room.
Th
They'd be bottom of the league ! They keep losing !