quite rightly we all look at it from a CCFC perspective, but in my opinion to understand what is actually going you have to put yourself in SISU's shoes and look at it as they see it.
CCFC is an investment that has gone wrong, they have millions of their clients money at serious risk and with it the reputation of SISU/JS.
As a hedge fund the driving force is a return on the investment in the shortest time possible and at the least cost to investors - that has not gone so well so far and need to re-establish credibility.
The investment has minimal assets (players, Ryton and League share all of which must be protected to make anything work). The major asset linked to the investment is the stadium and importantly the development rights of the site but ownership is in the hands of another company. But that company is cash reliant on CCFC to pay the current loan set up.
That company is likely to be slow to react due to the nature of the stakeholders, and the stakeholders need to maintain public opinion.
If can get hands on ACL the long lease can be sold to a third party for a profit. Does it matter if it is owned by CCFC to do that - yes because if it was any profit would go to the football club not the investors. The purpose of the investment is to reward the investors not the club, If investors repaid then SISU are paid a commission
Get ACL in administration, buy shares for £1 do deal with bank to discount and take on loan. ACL to pay the loan, because we all know it can if tenants pay their rent, therefore no cost to SISU or their investors
Bring in insolvency professionals to safe guard what they are doing and charge it to the football club because "protecting the football club trade"
SISU can cloud and delay the issue further in many ways - negotiate to acquire some shares (but knowing 50% in of no use so it is not for real), can PR campaign to keep fans on side make claims as to what is going on "average L1 rent" "debt free" "community club" "move elsewhere wont be held to ransom" "loans equitised" "look at the community work we plan" etc etc etc, carry on regardless knowing ACL will be slow to react and reluctant to take action.
Have well placed press leaks to weaken ACL, speak to ACL's advisors and bank , create a crisis for ACL by starving it of cash but also by influencing bank and advisors.
All the time the clock will click and it will become harder for for ACL to operate to meet its bills.
Of course if ACL could use the stadium in a different way they could perhaps create other income streams but by sitting there SISU via CCFC stop that and ensure no replacement income.
Having planned all this 9 months at least ago then they are ahead of the game, have things in place (remember changes of ownership and cayman isles, Arvo charge on assets etc), ACL not used to these situations and playing catch up when there is no time to learn
ACL always on back foot and because of the stakeholders have to be seen to be transparent in their actions - SISU dont have to be
Tell the fans what they want to know, please yourself what is actually done because anything that happens in accounts for 2013 wont become public until February 2014 earliest. Can be gone by then
and as luck (real bonus in all this and could not have been relied upon like the other things)would have it turn up the right man for the job to lead the team and give SISU something to hide behind, something to tell the fans is at risk if rent not sorted
Sell on the development rights to a major developer, leaving CCFC a tenant and few if any assets, Charity and Council with £13m in losses between them, and walk away having recovered a major part of the loans (dont forget the loans are only part of a much bigger fund so profits and losses on individual investments tend to get lost in the wash). It is the development potential that will be for sale, the club etc will be pretty irrelevant.
Sound familiar or reasonable ?
That is just some of it but if you put yourself in SISU's position does it seem to be fantasy? Tell you what if i was in their shoes it is what I would do - luckily however I am not and can look people in the eye knowing they will trust me.
it is of course all just my opinion
