SISU threaten to liquidate the club (6 Viewers)

[TheRoyalScam]

Just to clarify:

Liquidise = to change food into a thick liquid using a blender.

Liquidate = to cause a business to close, so that its assets can be sold to pay its debts.

TRS = English Graduate = B.A. (hons)

As any fule kno

 

---

[thorninmyside]

As for the 30 million loan. .. they loaned the money to our club. The loan can simply be withdrawn. Sisu leant it sisu own it.

The fact is they can afford to lose 30 million it may sound a lot to us but their investors pay that kind of money for a wall painting.

 

[Brighton Sky Blue]

Just to clarify:

Liquidise = to change food into a thick liquid using a blender.

Liquidate = to cause a business to close, so that its assets can be sold to pay its debts.

TRS = English Graduate = B.A. (hons)

As any fule kno

Wonderful, another poncey Arts graduate

 

[coundonskyblue]

Hearing TF on the radio this morning didn't fill me with much confidence about this. When asked about the rumour he said he 'didnt't want to talk about rumours', then when directly asked if Sisu had plans to liquidate the club he said 'we didn't liquidate the club yesterday and we won't today'.

Suggests to me that its not something that will immediately happen but is certainly on their radar.

 

[oldskyblue58]

the loan cant be withdrawn there is no money to pay it. SISU investors can write it off if they choose but why would they unless part of a sale agreement. In their own minds there is probably little chance of recovery but that doesnt mean they have throw a debt away

 

[sky blue john]

That the money would be gone. It's like buying something from DFS and they go pop before you get your sofa, but don't call in Administrators. They just close the business, withdraw the cash and that's that.

So probably best to hold onto your season ticket cash untill things are sorted out over the summer. I do feel sorry for the guys who have already purchased season tickets for next season. Though it was probably a bit nieve especially considering Sisu have not filed accounts yet and commited themselves to next season !!!

 

[1nilandwe...]

If SISU did liquidate the club, surely that would rule them out of becoming involved in any other sports clubs? It would be a massive black mark on their CV and a particularly poor reference to boot.

Wouldn't they be better off actualy trying to make a success of it instead of cutting and running?

On the other hand, would they be able to go into other business sectors and not worry about sports clubs since this one has gone so badly wrong? Would other businesses be bothered about a failure at a football club, or would they also see it as a reason to avoid SISU?

What I'm asking basically is, are SISU's own necks on the line as well as CCFC's? Or are they just juggling money and leaving the skin on their noses in tact?

 

[coundonskyblue]

If SISU did liquidate the club, surely that would rule them out of becoming involved in any other sports clubs? It would be a massive black mark on their CV and a particularly poor reference to boot.

Wouldn't they be better off actualy trying to make a success of it instead of cutting and running?

On the other hand, would they be able to go into other business sectors and not worry about sports clubs since this one has gone so badly wrong? Would other businesses be bothered about a failure at a football club, or would they also see it as a reason to avoid SISU?

What I'm asking basically is, are SISU's own necks on the line as well as CCFC's? Or are they just juggling money and leaving the skin on their noses in tact?

In terms of owning other sports clubs you are right. I very much doubt they would pass a fit and proper persons test if they liquidated us.

In terms of business they would probably come out of it smelling of roses! If liquidating the club was their best chance of getting their money back then they would be applauded for it in the hard faced business world!

 

[The Reverend Skyblue]

To use a non legal term," i think we're in the shit"

The Rev

 

[We'll_live_and_die]

So probably best to hold onto your season ticket cash untill things are sorted out over the summer. I do feel sorry for the guys who have already purchased season tickets for next season. Though it was probably a bit nieve especially considering Sisu have not filed accounts yet and commited themselves to next season !!!

They could do it at any time. They could wait until after the first game of the season to start proceedings. I think the best way would definitely be through a credit card.

 

[theprince]

Don't SISU own Malmo F.C. of Sweden ? who are far more successful than we are. How do they run them ?

 

[We'll_live_and_die]

Don't SISU own Malmo F.C. of Sweden ? who are far more successful than we are. How do they run them ?

I don't think they do......

Malmö FF is an open member association and the annual general meeting is the highest policy-making body. The meeting approves the accounts and elects the chairman and board. Håkan Jeppsson is the current chairman, elected in 2010. Daily operations are run by a managing director who liaises with the chairman. With an equity of 109.5 million SEK (approximately €12.4 million) the club is the richest football club in Sweden as of 2012

 

[The Reverend Skyblue]

I've cancelled my skyblueplayer today,Its only 4.29 a month but every penny helps, and won't consider my season ticket for next season until this almighty mess has been sorted out.Also i will put on hold my new pygama set from the club shop i've had my eye on for some time.

Once SISU find this out it will bring them to the negoitiating table immediately.

The Rev

 

[Mumford and Daughter]

If SISU did liquidate the club, surely that would rule them out of becoming involved in any other sports clubs? It would be a massive black mark on their CV and a particularly poor reference to boot.

Wouldn't they be better off actualy trying to make a success of it instead of cutting and running?

On the other hand, would they be able to go into other business sectors and not worry about sports clubs since this one has gone so badly wrong? Would other businesses be bothered about a failure at a football club, or would they also see it as a reason to avoid SISU?

What I'm asking basically is, are SISU's own necks on the line as well as CCFC's? Or are they just juggling money and leaving the skin on their noses in tact?

i doubt theyll invest in sport club again

 

[musicmanskyblue]

Hearing TF on the radio this morning didn't fill me with much confidence about this. When asked about the rumour he said he 'didnt't want to talk about rumours', then when directly asked if Sisu had plans to liquidate the club he said 'we didn't liquidate the club yesterday and we won't today'.

Suggests to me that its not something that will immediately happen but is certainly on their radar.

Did he mention anything about Thursday?...

 

[Sterling Archer]

I've already got my season ticket for next year. If Coventry City Football Club die, the £300 I paid for it will be the least of my worries.

 

[Sterling Archer]

According to council leader mutton sisu have threatened to liquidise ccfc

Where have you heard this? Any source?

Pardon my scepticism if this is all we have to go with.

 

[Sky Blue Sheepy]

It's on the Telegraph he's said this. My question is, where's Mutton's source?

 

[We'll_live_and_die]

http://www.skybluestalk.co.uk/threads/16574-Council-refuse-to-lower-Ricoh-rent.

See this thread.

Where have you heard this? Any source?

Pardon my scepticism if this is all we have to go with.

If you read the whole thread you would know my dear.

 

[covfan1966]

I seem to remember the last owner of Cov rugby club tried to liquidate them, but it was blocked by other members of the club so they went into admin instead

 

[Nonleagueherewecome]

That the money would be gone. It's like buying something from DFS and they go pop before you get your sofa, but don't call in Administrators. They just close the business, withdraw the cash and that's that.

Or the Xmas a chain of shops I worked for went bust, therefore making all the vouchers we'd been selling void. That was fun, I can tell you..

 

[Nonleagueherewecome]

It's on the Telegraph he's said this. My question is, where's Mutton's source?

As a vegetarian I find the idea of sauce on mutton disguisting, but I have to agree with what you are saying.

Essentially, there is no revealed source for what Mutton claims-it is the words of a man speaking as a CCFC supporter, not the head of the council. It is his opinion, based possibly on what he knows, more likely on what he "reckons is goin awnnn", nothing more.

 

[Nonleagueherewecome]

If you read the whole thread you would know my dear.

That's the source of the words he said, but not the source of his claims, or the evidence it is true. If it is true, then it's most likely a leverage situation more than anything, whilst by Mutton, it is more likely scaremongering, plus a healthy dash of "Vote Mutton, CCFC fan and Man of the People!".

 

[oldskyblue58]

it might be true but not having been said by SISU and TF quite the way it is reported. It might be a statement of fact given to ACL...... "we have run out of money, the investors wont or cant source any more funds, unless we can sort out the finances there is a possibility of having to liquidate the club because things are that bad, can we talk about the rent is there any room to work things out differently"

all in the perception I guess

 

[Sterling Archer]

EDIT - What Nonleagueherewecome said

 

[Blueandwhites]

COVfan66 - yes, the then owner attempted to liquidate COV rugby ltd - it didn't happen and the club went into admin which ironically, lots of people ended up being grateful for, as the club survived.

I went to watch COV rugby on Saturday and saw the opposition crowned league champions on our patch and then listened to the fact that COV fc had been relegated. Talk about rubbing it in!!

Not the best weekend, BUT COV Rfc have consolidated and are looking to push towards promotion in the next 2 years. I am sure after a bit of turmoil, COV fc will come through this.

 

[thegameaintstraight]

it might be true but not having been said by SISU and TF quite the way it is reported. It might be a statement of fact given to ACL...... "we have run out of money, the investors wont or cant source any more funds, unless we can sort out the finances there is a possibility of having to liquidate the club because things are that bad, can we talk about the rent is there any room to work things out differently"

all in the perception I guess

Seems almost certain that they have run out of money. Anyone care to hazard a guess as to how long they will get away with non payment of rent before the Council/ACL act, and then what that action might be. SISU are not bothered about CCFC, but you could see the Council in a very tricky corner politically.

 

[Stevec189]

Seems almost certain that they have run out of money. Anyone care to hazard a guess as to how long they will get away with non payment of rent before the Council/ACL act, and then what that action might be. SISU are not bothered about CCFC, but you could see the Council in a very tricky corner politically.

With elections due in early May as well...........As council tax payers should we not be encouraging the council to chase all rent avoiders - like we should encourage HMRC to chase unpaid tax?

 

[Grendel]

That's the source of the words he said, but not the source of his claims, or the evidence it is true. If it is true, then it's most likely a leverage situation more than anything, whilst by Mutton, it is more likely scaremongering, plus a healthy dash of "Vote Mutton, CCFC fan and Man of the People!".

Agreed. I have the misfortune to sit near him at the Ricoh. A fine example of a politician. He certainly wondered win Best Dressed Man of The Year.