Buying the Higgs Share (6 Viewers)

[fernandopartridge]

Here is a thought for you (all hindsight and "fantasy" i know but going to say it anyway)

It is late 2007 just bought CCFC ....... need to make it all work. Need to get hands on stadium, ok tell fans it is for the club but dont want to be stuck running a football club. Look at the stadium owners....... rent charged to club is too high and ACL are too highly leveraged. Make approach to ACL saying reckon we can improve the loan position, refinance and lower costs, if we do that then want a matching reduction in the rent to club. Earn a bit of trust and Kudos with ACL stakeholders. Focus on reducing costs and losses at club prove owners of club have proper handle on things. Work on a few small projects together with ACL. Being active positive partner in the site Activate option to buy Charity shares early as possible, if not work a deal that acquires some interest in ACL. Foot in door, finances leveling acquire some of the income sources in ACL either by earn out or cash. Further improve club finances. Gain trust, push to acquire ACL 100% maybe charity shares first to get majority. 100% gained sell on move on............

in another universe maybe but it didnt have to go the way it has. We all make our choices i guess...... too late now

Agree completely. Instead we concentrated on the expensive recruitment of Chris Coleman and allowed him to go on a spending spree from which we never recovered, which led to us eventually pleading for a rent reduction due to our worsened financial position.

I suspect SISU must have appointed one of the big 4, so poor was the due dilligence undertaken!

 

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[Paxman II]

...I was about to say accounts due this week. Embargo looks very likely to me and why they have reacted in the loan market quickly while they still can.

 

[Danceswithhorses]

How TF can describe ACL as a 'failing council-owned business' beggars belief.

Bit Hypocritical too...CCFC has never made a profit under SISU, in fact it has made huge losses.
ACL on the other hand has IIRC posted profits every year it has existed, except one

 

[Mary_Mungo_Midge]

Agree completely. Instead we concentrated on the expensive recruitment of Chris Coleman and allowed him to go on a spending spree from which we never recovered, which led to us eventually pleading for a rent reduction due to our worsened financial position.

I suspect SISU must have appointed one of the big 4, so poor was the due dilligence undertaken!

Spending spree? Over term, SISU are net benefactors of transfer fees; by something between £7m and £10m, depending upon the value cited to the 'undisclosed' deals?!?

 

[Mary_Mungo_Midge]

So why do ACL keep saying they don't need the club, that they are very busy, etc?

In fairness Torchy, they are. If they are sustainable without the club; neither you or I really know - it's conjecture. However, by means of evidence, it looks like their accounts have been signed off. Which - given recent events - must mean their auditors share that view

 

[Mary_Mungo_Midge]

Bit Hypocritical too...CCFC has never made a profit under SISU, in fact it has made huge losses.
ACL on the other hand has IIRC posted profits every year it has existed, except one

Agreed, with this and the went 'bust' assertion on CWR, I think Fisher's behaviour in all this looks lamentably poor. In fact, he could end up in court himself

 

[oldskyblue58]

It will be interesting to see how the likes of CWR and the CT come out of all this when the dust settles :thinking about:

 

[fernandopartridge]

Spending spree? Over term, SISU are net benefactors of transfer fees; by something between £7m and £10m, depending upon the value cited to the 'undisclosed' deals?!?

On the face of it, but transfer fees has never been the biggest problem, it's wages.

 

[Nick]

It will be interesting to see how the likes of CWR and the CT come out of all this when the dust settles :thinking about:

Can you not go on as fan of the week and tell Linnell to keep quiet and blind him with accountant speak?

 

[Mary_Mungo_Midge]

On the face of it, but transfer fees has never been the biggest problem, it's wages.

I don't disagree with that one. However, I have mentioned earlier my frustration at SISU's inability to hold steady against what should be a simple business plan.

There can be no players at the club now who had a contract, without renewal, before SISU came to the club. So, every contract is their contract.

Huge losses against known revenues, without income streams that have never been on the table and no one's fault other than SISU's, surely?

 

[Grendel]

I don't disagree with that one. However, I have mentioned earlier my frustration at SISU's inability to hold steady against what should be a simple business plan.

There can be no players at the club now who had a contract, without renewal, before SISU came to the club. So, every contract is their contract.

Huge losses against known revenues, without income streams that have never been on the table and no one's fault other than SISU's, surely?

Ah yes so simple. After all every football club is profitable is it not.

It would be simple. Bring players in to fall under projected revenues which would mean a player budget of half of what we currently have and probably less than double the original rent deemed fair to play st the ground.

 

[Pete in Portugal]

...I was about to say accounts due this week. Embargo looks very likely to me and why they have reacted in the loan market quickly while they still can.

Yes, it would explain the rush to get players in quickly, even while there's a temporary manager in charge and even when Wood looks likely to be fit sooner, rather than later. I wonder what impact this will have on the recruitment of a new manager? Fisher & Waggot would surely have to divulge it to candidates at their interviews.

The CCFC bank account has more or less effectively been frozen. As things stand, the main income streams of CCFC will be paid to ACL on 3rd May. We owe circa £1.5m in rent arrears. And from 1st March we'll be under a FL transfer embargo. Add the fact that we will have a significantly reduced wages budget next season and you can see that some applicants might just decide to withdraw. I guess that ultimately, it depends how desperate they are!

 

[Mary_Mungo_Midge]

Ah yes so simple. After all every football club is profitable is it not.

It would be simple. Bring players in to fall under projected revenues which would mean a player budget of half of what we currently have and probably less than double the original rent deemed fair to play st the ground.

Not all clubs operate with a business plan as simple as ours.

Gate revenues, transfer surplus, shirt sponsorship, TV money and direct sales via the shop = revenue

Match expenditure to revenue.

Even you can't justify a loss of £6.7m+ per season against that. Give it up whist you still have some dignity as your sycophantic support of Fisher, Waggot and SISU is more cringeworthy by the day