Covstu
Well-Known Member
totally not, nowt for transfers but they must be paying the bills somehow? Surely they cannot be that niave to think that the club is self sustainable particular now!!
SISU Going BUST !!!!!!!!! (2 Viewers)
- Thread starter stgeorge1966
- Start date
totally not, nowt for transfers but they must be paying the bills somehow? Surely they cannot be that niave to think that the club is self sustainable particular now!!
Skyblueloyal
Active Member
As much as I hate Sisu for destroying Coventry City I am sure they have more than Coventry City to top up there money pot. But I think with us more than likely playing League 1 football next season and for a few to come sadly our value as a club has dipped massively overnight and falls even more day by day
If sisu are going bust Itl be down the the so called acting chairman John Clarke he constantly uses the clubs account for himself,last nite he had a boardroom full of his mates eating and on the piss at the clubs expense,we should all get round to block one Saturday and embarrass him,he's a disgrace to the people of coventry
Brighton Sky Blue
Well-Known Member
Where was that?
Sir Digby Chicken Caesar
New Member
So who would need to file for administration SISU or CCFC should there be no money left?
Brighton Sky Blue
Well-Known Member
We have any proof?
Brighton Sky Blue
Well-Known Member
Enlist Sky Blue Sam, no-one'll see it coming!
Brighton Sky Blue
Well-Known Member
He was appointed as 'proof' that SISU were keeping some local identity at boardroom level. However I've seen absolutely nothing attributed to him in the press since that appointment and if he's getting away with the sort of stuff you're saying he's doing, perhaps SISU care even less than originally thought.
Sir Digby Chicken Caesar
New Member
And elephants never forget.
Astute
Well-Known Member
Can everyone take their blinkers off a min.
SISU are fund holders. They make money out of funds they run. CCFC are part of one of these funds. Our owners are the investors in this fund. Unless SISU have invested money in one of their own funds, which would be unusual, we are not owned by them.
SISU are fund holders. They make money out of funds they run. CCFC are part of one of these funds. Our owners are the investors in this fund. Unless SISU have invested money in one of their own funds, which would be unusual, we are not owned by them.
SISU WILL NOT GO BUST THEY HAVE £Millions
The only part of there organisation that is loosing money is CCFC.
Our club is dying and although Richardson started this SISU are going to finish it.
City fans are famous for just siotting on there arses and all shoutng "Sisu out" but very very few actually do anything more than a whimper.
The only part of there organisation that is loosing money is CCFC.
Our club is dying and although Richardson started this SISU are going to finish it.
City fans are famous for just siotting on there arses and all shoutng "Sisu out" but very very few actually do anything more than a whimper.
BCFC Exile
New Member
Relegation or no, if someone calls in their loans leaving the business without cash to pay its overheads it becomes insolvent.
BCFC Exile
New Member
According to their last filed accounts dated 09.08.11 for yr ended 31.03.11 they had a bit less than that as cash in hand. The princely sum of £754k. They had a total net worth of just £824k. Total current liabilities of £423k and Total Current Assets of 1.53 million. The company itself, therefore, has absolutely no chance of bailing the club with more cash. The only way it could so is go to its investors for a fresh round of cash and based on the sad plight of your club with respect i think that is about as likely as an iceberg hitting the ricoh arena.
Of course, those figures could look a whole lot healthier when they submit their accounts for yr end 31.03.12 and they have up to 9 months to do so. However, since 2006 those 4 figures have ALL been on a downward trend. The question remains, if I was close to the club, is why Ray Ranson (as I understand it the previous majority owner or figurehead? ) sold to Sisu in the first place... Sure, he needed to get out, that much i assume is certain but it tells you an enormous amount about the man who is supposed to be a hero around your parts, right? I would suggest he is no friend of Coventry City but thats obviously open to huge conjecture.
LeamingtonBootBoy
New Member
Next Thursday I hear.
georgehudson
Well-Known Member
so, once again, over to you pr guru, mr clarke,
mmmmmmmmmmm
mmmmmmmmmmm
BCFC Exile
New Member
I note also they have already posted accounts for yr end 31.03.12... thats really an interesting move. Their results are slightly better than last year and perhaps were necessary in a last ditch attempt to either secure more financing or at least stay in business. One would certainly not post accounts right after a yr end if there was a huge tax bill to pay as you would wish to obviously delay it for the full 9 months.
http://www.telegraph.co.uk/finance/...ity-owner-Sisu-Capital-posts-272000-loss.html
http://www.telegraph.co.uk/finance/...ity-owner-Sisu-Capital-posts-272000-loss.html
TommyAtkins
New Member
Good post.
Richardson and Robinson are completely to blame for the demise of our club.
SISU or no SISU, this was always a likely situation for us to face.
mark82
Super Moderator
Ray Ranson was employed by SISU as chairman. He left due to players being sold by SISU over his head (allegedly). Gary Hoffman, who was vice chairman resigned shortly before for the same reason.
TommyAtkins
New Member
Its pretty clear: SISU tired of the club continually losing money. They either tired of it and/or ran out of funding.
Ranson and Hoffman wanted to persist with CCFC losing money. But that was unsustainable.
Portsmouth and Rangers will tell you that
mark82
Super Moderator
What actually annoyed me in the time running up to that is being told constantly the club was in a good financial position.
TommyAtkins
New Member
I can understand this
but what i find surprising that so many people ignored the significance of Ranson repeatedly saying that we needed 23000 (or so) fans to breakeven.
Clearly, we were still losing money and that was unsustainable in the long term.
I think a lot of fans need to go back to 2001 and consider just how damaged this club was and therefore, how much of a repair job is needed.
So Sisu have no responsability to shoulder for this current situation?... Great business people have a plan a short mid and long term they have been here 3 years and that plan was to cut the wage bill... Please,, you cant have it both ways if the position they found themselves in was brought on by others they should look to resolve it not stumble until they have no other course of action than to not pay rent!!!!!!
So although R and R have some Blame no way is it completly their doing what SISU have decided for the club over the last 3 years....
Take the SISU blinkers off,, and anyway when did they come out and speak last or give any explaination for anything... they done care
So although R and R have some Blame no way is it completly their doing what SISU have decided for the club over the last 3 years....
Take the SISU blinkers off,, and anyway when did they come out and speak last or give any explaination for anything... they done care
farawayblue
New Member
Haven't the club been going bust all season and still hasn't happened. And why would anyone listen to Keys, he has bleated on all season about deals being close and he knows a take over will happen etc and nothing ever comes of it. He just enjos all the attention and new followers he gets.
TommyAtkins
New Member
Even when SISU took over and the fans were busying themselves imagining spending that money on new players (remember the "Coleman worked in Spain so lets sign Spanish players" belief?), I believed that we would have one small chance at promotion, which would likely fail due to the increasing competition in the Championship. I then decided that relegation would be likely inside 5-10 years and settled on the season 2011/12 as the season we would be relegated.
This wasn't a display of amazing foresight and intelligence*; rather it was an objective appreciation of the situation the club was in.
I agree with you: SISU don't care - which is incidentally why the "SISU Out" campaign won't work. Nor will trying to embarrass them in the media. If they don't care, they won't feel guilty or get embarrassed. But SISU never cared about CCFC - remember they were welcomed with open arms. Remember the taunts to Southampton fans?
This was an investment opportunity, this was SISU's risk, their speculate to accumulate option. But it was a finite investment, that much was clear from the start as was their unwillingness to stay with the club for the long-term.
They ran out of money and ran out of patience with a club that continued to lose money and continued to fail on the pitch.
So - fans can't have it both ways - this was always a short-term plan with limited funds. The plan was judged to have failed and the money ran out.
Endex.
This has never been "SISU bad" or "SISU good". It is about CCFC and it's future. This club cannot ever hope to survive on borrowed money indefinitely.
Sooner or later, it has to become a viable entity
* Yes, it was.
1nilandwe...
Well-Known Member
If they can see now that it was a bad investment, and they are not willing to 'speculate' any more in order to have a chance of 'accumulating' their money back, then why didn't they try and force through a deal for the club when it was on the table? Essentially recouping as much money back as possible from their failed investment?
The only conceivable answer to this (if your assumptions are correct) is that they are going to cash in as much as possible in the Summer. No sensible investor is going to sit on a bad investment indefinitely are they? And as you say, it was always a short-term plan for SISU and they're unwilling to stay for the long term.
So, if you are correct in what you've said and they do cash in over the close season before ditching us, surely this would plant them firmly in the "SISU bad" category you mentioned?
They took a gamble and they gambled very poorly. But they have not helped themselves one bit.
The only conceivable answer to this (if your assumptions are correct) is that they are going to cash in as much as possible in the Summer. No sensible investor is going to sit on a bad investment indefinitely are they? And as you say, it was always a short-term plan for SISU and they're unwilling to stay for the long term.
So, if you are correct in what you've said and they do cash in over the close season before ditching us, surely this would plant them firmly in the "SISU bad" category you mentioned?
They took a gamble and they gambled very poorly. But they have not helped themselves one bit.
Nonleagueherewecome
Well-Known Member
There will always be some people who root for the bad guy, even more so if it annoys people who don't like the aforementioned bad guys.
BCFC Exile
New Member
Appreciate the clarification on that important point.
dongonzalos
Well-Known Member
It is not about embarrasing sisu it is about focusing on what they do care about - money and reputation to spend it wisely. Highlight in the media that they do take bad speculations and people maybe be less keen to invest with them. The more that message hits the media the more they will want to distance themselves from coventry. It is not a case of let's tell the media SISU are bad people and shame them into going
thorn in my side
New Member
If Keys did Tweet this then I really hope SISU go for Keys this time.
SISU are not going bust. SISU are a hedge-fund and I suspect are in rude financial condition.
CCFC MIGHT be going bust.
SISU are not CCFC in legal terms, and so for Keys to comment on a public forum in this way is tantamount to slander: All SISU will need to do is show the comment is inaccurate and that the comment caused damage to reputation, and Keys may find:
1. His employers, Talk Sport, are unhappy he is using their Twitter account to make such comments - and after Sky, who knows what might happen;
2. He is on the receiving end of an injunction preventing him from further comment - which is no bad thing cos I am fed up hearing about him;
3. He may have to get his cheque book out and compensate SISU for his actions - and perhaps we can add this to the transfer kitty !
I hope SISU go for him. I am fed-up with him playing russian roulette with the emotions and sensitivities of CCFC fans. The majority of us have no interest in what Key's thinks of the world. The majority of us see him as a man full of his own self-importance constantly craving media exposure. I for one would like Keys to JUST SHUT UP.
If Gary Hoffman has something to say, then let us hear it from him - although I suspect he has nothing to say.