Ah the JOY of it.......Joy Seppalla talks (4 Viewers)

[Wrenstreetcarpark]

So she is saying we want the stadium. We haven't got any money. We want the money the stadium earns to spend on the Football Club. We won't pay any rent. We will let the public have shares in our losses.

sounds a bit like gimme gimme gimme or I'll scweam.

 

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[Otis]

I don't believe anything Sisu say.

By the same token I don't believe anything Richard Keys says either.

Best take everything with a pinch of salt. We have been lied to too many times and with too much regularity for decades now.

Do you expect her to say anything contentious? Of course not. It's her job to paint a pretty picture.

 

[Danceswithhorses]

Total Bullschwaazy Joy :jerkit:

 

[skyblueexile]

Thank you otis back to form I don't agree

 

[We'll_live_and_die]

How can you disagree with that? He's simply saying don't believe either side, and in all truth this point is factual.

 

[Sub]

the fans used to own part of CCFC but had to give that back for free !!! now they want us to pay for something else so they can have the revenue from it !! fook that

 

[skybluebeduff]

Looks like we're fooked and in for the SISU long haul.

 

[Desperados]

Is this not just the end of season waffle? State the obvious of stake in the stadium and will be looking into other investment opportunities as we have heard before. I would of preferred if the first question was - Have the accounts now been submitted and are SISU committed to funding for another year while also seeking other revenue options.

 

[thorninmyside]

Slag me off of you want but I was impressed that they replied so well. You can't accuse her of avoiding the question. A member here wrote "no mention of the squad" ... I think she made the point about the squad very well. She said "we must cut our cloth to suit our means" and made many references to the club "reaching a break even on the clubs income and it's expenditure". Nothing confusing there. The players that we will have will depend on the income and the expenditure breaking even. .. so at this point either the rent comes down or its the chop for most of our squad as the wage is too high.

I was impressed by the article. We now at least know the following

Hoffman is full of it. . No offers have been made and he hasn't been able to put the money where his mouth is.

We are NOT facing administration or liquidation.

Sisu have NOT taken any revenues from the the club AT ALL.

Sisu have invested 40 million so far and they want a profit.

Sisu are in it for the long term.

Sisu want to own all it part of the stadium to make money from the revenue streams. .. can you honeslty say they are not in the right to do so.

The problem for us is the council do not want to share the revenues with our cluB. Councillor mutton can dress it up however he wants but the loss in revenue from the ricoh has been detrimental smell we have suffered due to it.

Sisu are saying we allneed to work together. I think that means us and the council . Acl. Higgs. What's wrong with that. . If the council want to see a succesful club they need to stop the greed and give 50 percent of their ownership to the club on a model where sisu own it under certain conditions. The council still own the other 50percent of there ownership rights.

Then after 3 years it so after prooving its intentions sisu should buy the other 75 percent. At that point I think they should be able to recoup our and their losses.

Sisu are not the enemy. The council are

 

[covross]

i hope the council dont fool for sisu's bullshit, all they want is a slice of the ricoh pie to try and recoup the money they have lost. and they say about transparency, show your face bitch

 

[oldskyblue58]

said all the right things didnt she, very reassuring, very sympathetic .......... thing is it isnt words i want to see its actions

to sum up ..... in order for SISU and its investors to get a long term return on their "investment" they need to own the stadium and all its income streams. There is no funds available to buy into it so ACL need to work closer with SISU to make the club more money - which by implication means transferring income streams from ACL to the club. There have been mistakes but unless you are a football expert, then it is so complicated to understand. Oh and just to keep the fans happy they may be the prospect of some involvement.

Welcome the dialogue .... it is a step in right direction........ do i trust in it ........ no

 

[Sub]

so from a article sent by a person you have never heard from or spoke to before you belive everything she said ? and of course they have always told the truth and been honest about all CCFC things havnt they ? Some things maybe be truthfull but which part god only knows:facepalm::facepalm::facepalm:

 

[thorninmyside]

Covross what club owners would not want to own their own grounds. And mate what's so wrong with sisu getting their money back under all revenues available to them what is wrong with sisu making money out of the club. Its a business for christs sake sisu aren't a Charity.

I think it's sad that some fans act like we are Charity cases. How dare sisu think of making a proffit? !!c

What ... would you but a football club pay out 40 million keeping the club afloat losing money all the time. Paying astronomically high rent whilst at the same time you see the incentive that was the ricoh making millions in proffits .. what the club could have done with that money!

What, and then just say say .. here go Bud have it for a quid!

No.

Well done sisu and well stated joy sepalla

 

[Astute]

I have heard too many lies for too many years now.

I want actions not words. If we start getting a squad together that can compete I will start to believe again. Until then I have no reason to believe anyone or anything to do with who runs our club.

 

[Mumford and Daughter]

Covross what club owners would not want to own their own grounds. And mate what's so wrong with sisu getting their money back under all revenues available to them what is wrong with sisu making money out of the club. Its a business for christs sake sisu aren't a Charity.

I think it's sad that some fans act like we are Charity cases. How dare sisu think of making a proffit? !!c

What ... would you but a football club pay out 40 million keeping the club afloat losing money all the time. Paying astronomically high rent whilst at the same time you see the incentive that was the ricoh making millions in proffits .. what the club could have done with that money!

What, and then just say say .. here go Bud have it for a quid!

No.

Well done sisu and well stated joy sepalla

so why wasnt joy asked about avro ?

easy interview under the circumstances

 

[thorninmyside]

so from a article sent by a person you have never heard from or spoke to before you belive everything she said ? and of course they have always told the truth and been honest about all CCFC things havnt they ? Some things maybe be truthfull but which part god only knows:facepalm::facepalm::facepalm:

Lets put it this way. I have never met Martin Luther king but I believe everything he said.

If you look at this purely from an owners point of veiw you have to say she has been open honest and candid in this article. Like I previously stated the ground was built for our club. Ccfc were not built due that ground.

Its only natural the club want the revenues. If you owned the club you would be doing exactly the same as sisu. She said we aren't going to liqudate or administrate. What more do you want from a company being shat on by the council

 

[Dbell10]

Actions speak louder than words

 

[kg82]

so why wasnt joy asked about avro ?

easy interview under the circumstances

Avro?

Smelled of desperation to be honest. I thought if she was that bothered about the club it wouldn't have taken her 5 years to speak to the press. I'd like to believe everything in there but that would surely mean getting my hopes up just to be crushed again!

 

[WestEndAgro]

All this proves is, that the " current model" is crippling the club, we cannot continue in this vain for much longer.
Something is going to have to give, and it needs to be quickly.
Someone wether it be SISU, ACL or the council is going to have to cave in and enable the club to gain some revenue, without this we are dying and believe me it is a very painful and agonising death.

 

[skyblueinBaku]

Well, at least she admitted that Sisu made mistakes and apologised. Apology accepted, Joy. However, I would like just a little more detail. To what mistakes are you admitting? How do you propose to make amends? How do you propose to negate the effects of those mistakes?

 

[Wrenstreetcarpark]

so to help Sisu make a profit the council and the charity should give them the Ricoh????

 

[Mumford and Daughter]

Avro?

Smelled of desperation to be honest. I thought if she was that bothered about the club it wouldn't have taken her 5 years to speak to the press. I'd like to believe everything in there but that would surely mean getting my hopes up just to be crushed again!

yeah the company which has ccfc holdings has been switched to. no questions asked about that

 

[thorninmyside]

so why wasnt joy asked about avro ?

easy interview under the circumstances

Avro are just another investment product from sisu. They can use 500 different company names if they want. .. what matters is however they do it they have to get our club straight.

The methods they are using did point to liquidation but that had been out to bed today.

 

[Mumford and Daughter]

The methods they are using did point to liquidation but that had been out to bed today.

why because of the interview ?

we need money and where that money coming from ?

one question if they cant afford players they wont be able to buy the ground

 

[dongonzalos]

Folks the question are sisu in this for the long term. Read it, do you think she actually answered that question.

 

[WillieStanley]

The same old script. All the same buzz words and catchphrases and ultimately, the same message. This is exactly what we heard from KD, LB and OI. It remains undelivered and our situation as gotten worse.

I see no reassurance in that, what so ever.

 

[oldskyblue58]

The income streams have a value to ACL. They have always been there. CCFC have more out goings than income. Has always been the case. Two solutions...... buy the right to income and cut the costs of the club to break even at least.... these solutions have always been there.

It isnt rocket science and its taken 5 years to work it out.

Throw in a little openess properly communicated and it wasnt that difficult was it. Clearly it was.

Anyone who expects that ACL, the council or charity will simply give away assets to CCFC or SISU or any other owner is simply kidding themselves.

Actions Joy actions that match the rhetoric.

 

[thorninmyside]

so to help Sisu make a profit the council and the charity should give them the Ricoh????

Like I said the ground was built for the club. . Not the club for the ground. .

Of course it is in the councils interest to sell 50 percent of their share as would higgs trust. Without a football club there it would defy the purpose of its whole existence.

A successfully club means a more succesfull ricoh.

 

[dongonzalos]

Ha ha, wondered why she has bothered her arse to speak to us. Read the second last paragraph. Before this when I read we need to reduce costs and increase profits. I thought to my self you can't do that. You tried that way it does not work. You need to success to increase profits. Then I thought there are no avenues left to explore to raise profits. Then I read the second last paragraph. Fans as stakeholders. Will these be the same fans who were forced to give up their shares for nothing. I second guess a scheme coming out, on top of your season ticket and buying merchandise. We will be asked to invest as a stakeholder, how much say in how the club is run do you thunk that stake will buy us.

 

[dazzled2u]

I'm no lover of SISU or the way the have conducted themselves but the interview reads fair.

They are purely speaking from a financial perpsective as their is no passion for the club as a football club as their only real aim is to make a return for their investors. They've tried to balance the books and minimise expenses by selling and cutting the squad much to our dislike - this has proved to be false economy as we've been relegated and the income has reduced even more!

They are correct the biggest problem we have as a club is the RICOH, if the move from Highfield Road was managed better we wouldn't be where we are today as the income from the stadium into the club would be much higher plus we would of been taken over by other investors.

The best chance of SISU making any kind of return would be by owning part of the RICOH, there's nothing strange or wrong in that idea as any other owner would want the same.

As a club we can never progress without owning or part owning the ground, if this isn't resolved in before the start of the new season I think administration will become a necessity as they won't fund the increasing loses.

 

[skyblueexile]

Thorninmyside

I agree with you as you will no doubt have read

She has too much to lose professionaly by going back on her words

question is will council start talking ... c'mon council tell us lets get this sorted while we have time to rebuild

Hoffman whatdo you have to say

 

[dongonzalos]

So basically she has never bothered her arse talking to us. Then she realizes she may need some more money from us. Bingo interview. Anyone feel used and abused. It was a proper hard sell aswell. Like a popstar selling their book on Graham Norton. Lay out how bad things are, say you want to reach out to the fans. Then drop in right st the end stakeholders.

 

[covross]

if sisu acquired the ricoh would the revenue go on transfers, players to strengthen the team, wages etc or would it go to the sisu 'investors' that have lost their money. i say 'investors' because the money they say they have spent is from our tickets, player sales, training ground, shirts etc. sisu are green as goat shit when it comes to football

 

[dongonzalos]

So the only downside of administration was a ten point deficit and will anyone else step in. Time for a hoff interview and a bit of honesty would they or can they step in. Time for a council interview and a bit of honesty. Would they sell to other owners if they proved themselves to be more responsible owners. Or would they never sell.

 

[Sub]

SISU's representative's open letter to fans
Coventry City Football Club director Onye Igwe, who is SISU Capital Private Equity's representative on the club board of directors has published an open letter to all Coventry City fans. The letter reproduced below is taken from the club website
http://www.ccfc.co.uk/page/NewsDetail/0,,10269~2438349,00.html
Dear Supporter,

These have been turbulent times recently for Coventry City Football Club. I want to start by thanking all of you for your support for this Club. Despite all the changes, and challenges, you have remained committed and continue to offer fantastic support to our players on
the field.
Off the field events at Coventry have sadly dominated the headlines over the last couple of months, and I want to use the closure of the latest chapter, namely the recent withdrawal of a much hyped takeover bid, to communicate directly with you all and address a number of important issues.
First, I want to say that I fully appreciate the frustration of supporters in recent weeks, and I also understand that we at SISU are an easy target for this anger. I have read a lot recently about people wanting
the 'truth' and I wish to use this letter to set out the position we are in currently, look to the future and share the vision with you.
It is widely reported that SISU have spent in the region of £30m on the day to day operations of Coventry City over the past four years, and we have not taken money out of the Club, but continue to fund the football club.
Given that sum, I think it is fair to suggest that all supporters would have expected the Club to achieve much more during this time. While there are many owners in the Championship having to cover their Club's losses, we would have hoped for Coventry to have been in a stronger position than we currently are. At SISU, we readily accept that if we had our time again a number of things would have been done differently. Not in the money that we have invested and continue to invest, but in some of the decisions made and with whom
we chose in the past to partner with.
We have also been too distant, so when the relationship broke down with former executives, we have not been able to put our side of the story. We like to empower the management teams to run operations and do not take an active public role.
It is clear that this business style does not work in football. Since March the agenda should have been set by the Club and owner, building bridges with our supporters and other stakeholders in the City. Unfortunately our distance has allowed others to promote their own disruptive cause, damaging the Club as a consequence.
This has also undermined the good work done by the new management team to recover from past losses.
The position of SISU is absolutely clear. We are not looking to sell but have said that we would speak with any credible investors looking to be part of a partnership with us.Talks continue on a regular basis
but no truly credible party has come to the fore so far. Let me also be clear that a lot of time has been wasted by having to deal with people and parties who have promised much in public, but have delivered
absolutely nothing.
The new Board has been tasked with improving all aspects of the Club's operations. Many improvements have been made, although most of these are not of a headline grabbing nature. I fully appreciate that what matters to supporters is investment on the field.Those who were previously directly responsible for our football transfer policy left the Club in a difficult situation with 11 players out of contract in June leaving us to inherit a dangerously depleted squad of players.We want to see major improvements on and off the field, but like many of our competitors we are operating within a more practical and long term budgetary structure than in recent years.
Money has been available for the club to spend this summer, and I am delighted that as well as goalkeepers Joe Murphy and Chris Dunn, Cody McDonald, a striker, was signed yesterday. We will hopefully also be successful in attracting some quality loan players later this month to help Andy Thorn. Also, despite a number of approaches, we have declined substantial offers for Lukas Jutkewicz (sic) and, as widely reported, other players, in order to maintain our commitment to compete at this level.
A working capital facility has been made available to the Club to support it through the final stage of the turnaround plan and major improvements and innovative ideas are expected in the coming months. Coventry City is the anchor tenant at the Ricoh Arena and it should have at least a partial stake in the ownership of the stadium where we play; everything possible shall be done moving forward to reach the right solution.
A football club should be a leading light within a community, a vehicle for bringing people together and promoting a City.Personally, I have enjoyed some fantastic days at the Ricoh Arena over the past four
years. In the coming weeks and months I shall communicate further with supporters and outline a wider vision for the club. This season though is one of transition, as we move towards a Club that is unified from the top down, both on and off the field of play.
I and the rest of the Board understand that there is a lot of frustration right now and lots of work has to be done to clear this, so let me finish by reiterating that we are committed to getting it right for the Club for the long term.

Kind regards,
Onye Igwe
SISU Capital Private Equity

http://www.ccfc.co.uk/page/NewsDetail/0,,10269~2438349,00.html

whats changed from this ?? not alot, more bull shit different name on it