stupot07
Well-Known Member
How much did the doctor tell you the offered rental level was?
CCLSC minutes 29th May - Fisher Speaks (31 Viewers)
- Thread starter ccfcway
- Start date
How much did the doctor tell you the offered rental level was?
stupot07
Well-Known Member
I know it's rediculous. No wonder fans don't turn up, they have illusions of grandeur.
Nonleagueherewecome
Well-Known Member
There are also certain people who no matter what shite Fisher speaks, love changing the subject and with very little foundation saying "well, it's not as bad as JE/GH/ACL/CCC PWKH". When it is actually much, much worse.
oldskyblue58
CCFC Finance Director
"Holdings is solvent; Limited is not"
For reasons that are essentially two sides of the same coin ......... basically SISU chose to fund CCFC H but not CCFC Ltd............... what happens if they choose to not fund CCFC H ?
2011 accounts Holdings had current liabilities of £48m and losses of £9m
and we have added to that debt over the last 2 years............. will add to it for the next 3 years playing elsewhere................ and then increase the debt with the new stadium costs by £21m per TF...........
:facepalm: it isnt making a lot of sense to me........
For reasons that are essentially two sides of the same coin ......... basically SISU chose to fund CCFC H but not CCFC Ltd............... what happens if they choose to not fund CCFC H ?
2011 accounts Holdings had current liabilities of £48m and losses of £9m
and we have added to that debt over the last 2 years............. will add to it for the next 3 years playing elsewhere................ and then increase the debt with the new stadium costs by £21m per TF...........
:facepalm: it isnt making a lot of sense to me........
Skyblueweeman
Well-Known Member
We're in administration so he'd have to negotiate with the administrator, no?
grego_gee
New Member
Where does this come from?
What id CCSLC?
imp:
Forum with London supporters club.
So to gain extra revenues for the all Critical FFP ,next years will be based on figures from this season with gates of possibly 33% of last years at a reduced cost .This years player budget is going to be £2M. based on FFP of last years income (Strange I thought Income was higher maybe £5-5.5M.) so next years player budget could be as low as £0.7M. That would be typical for a 4th Div team IMO,and of course all the time reducing the need for SISU to dip its hand in continuing to fund the club, apart from building value into the club through a ground build that loads anywhere between £25-£30M. onto us,reckon they're going to need a conveyor of talent to sell ,who have we got/
singers_pore
Well-Known Member
Finally some common sense. I cannot believe there are more than 20 clubs that would pull in 32,000 fans for a JPT semi-final, even at the low price of 5 pounds per ticket. We are not a small club. We simply have had nothing to cheer about for the last 26 years.
oldskyblue58
CCFC Finance Director
Not sure i would want to be their auditors
apparently the audit will take 10 days per TF ..........
Well if the accounts prepared for the group on the same basis as those to 2011 given the staff BDO have yes that could be done
But TF repeatedly has said the accounts are wrong. Originally ccfc a non trading property subsidiary. Now " Historic player trading and property ownership was the only purpose of Limited" Thats changed. It would require restatement of previous accounts for all companies in the group since the date they were first prepared wrongly (possibly 1995). Each set of accounts would require restating and each set a new audit report. That is of course if the accounts were wrong.
apparently the audit will take 10 days per TF ..........
Well if the accounts prepared for the group on the same basis as those to 2011 given the staff BDO have yes that could be done
But TF repeatedly has said the accounts are wrong. Originally ccfc a non trading property subsidiary. Now " Historic player trading and property ownership was the only purpose of Limited" Thats changed. It would require restatement of previous accounts for all companies in the group since the date they were first prepared wrongly (possibly 1995). Each set of accounts would require restating and each set a new audit report. That is of course if the accounts were wrong.
Bennets Afro
Well-Known Member
Can they resubmit accounts that are wrong. Surely they would just go after the directors
shmmeee
Well-Known Member
You going to a forum OSB? If not Id appreciate you posting up in as much detail as possible the key questions you think need asking and perhaps some follow ups depending on the answer.
It's all a bit pointless a bunch of ill informed financial idiots like myself going and these questions remaining forum speculation.
oldskyblue58
CCFC Finance Director
Will try to get to one of them yes but if not will post some questions
oldskyblue58
CCFC Finance Director
Yes there is a mechanism for correcting accounts at Company House
stupot07
Well-Known Member
Ah the JTP semi final.....the benchmark for how big a club is
torchomatic
Well-Known Member
Personally, there's not a Bad-o-meter when it comes to measuring spin from either side. It's the total lack of any criticism whatsoever of ACL that annoys. They aren't to blame as much as SISU granted, but questions still need to be asked of them and their business model.
torchomatic
Well-Known Member
I would sum it as "We are not a small club. We simply have a lot of fans who will only turn up when there's a chance of going to Wembley, Old Trafford or The Emirates".
grego_gee
New Member
Thanks Wingy, don;t know if you were there but
Did anyone record it or video it by any chance?
imp:No Greggo but that seems damn near verbatim from the minutes .Thanks Wingy, don;t know if you were there but
Did anyone record it or video it by any chance?
Bennets Afro
Well-Known Member
OSB is it normal for companies to have to go back through 10 years worth of accounts to adjust them to suit their current situation/ argument?
skyblueinBaku
Well-Known Member
It does seem a bit like the Ministry of Truth in the book 1984..............
oldskyblue58
CCFC Finance Director
not normal at all highly unusual .............. but to get the current figures right they will have to work on previous years because of the balances that roll forward each year...... that is if the basis is wrong
grego_gee
New Member
It seems for a change to be very rich in facts (granted from TF's point of view) and without very much "spin" attached. I had difficulty getting my head around para three in particular!
I am looking initially at the first 3 para's
1. Some time before march 2012, TF tried to renegotiate the deal with ACL to include matchday revenues because of FFP. They were offered £500k pa rent inc matchday revenues if they paid £24m up front.
2. 18.06.2012 SISU & Higgs agreed and signed terms of agreement for SISU to buy the Higgs share of ACL for and undisclosed sum (presumably in excess of £6.5m)
3. To support this deal (maybe a requirement they were asked for?) SISU agreed to buy the £14.4m Yorkshire bank Mortgage AND discharge it in return for a lease that would be drawn up for 125 years.
I am not trying to rewrite the original, only pick the bones out of it to understand it.
Can you confirm if I have misunderstood anything?
imp:
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Bluegloucester
New Member
It seems for a change to be very rich in facts (granted from TF's point of view) and without very much "spin" attached. I had difficulty getting my head around para three in particular!
I am looking initially at the first 3 para's
1. Some time before march 2012, TF tried to renegotiate the deal with ACL to include matchday revenues because of FFP. They were offered £500k pa rent inc matchday revenues if they paid £24m.
2. 18.06.2012 SISU & Higgs agreed and signed terms of agreement for SISU to buy the Higgs share of ACL for and undisclosed sum (presumably in excess of £6.5m)
3. To support this deal (maybe a requirement they were asked for?) SISU agreed to buy the £14.4m Yorkshire bank Mortgage AND discharge it in return for a lease that would be drawn up for 125 years.
I am not trying to rewrite the original, only pick the bones out of it to understand it.
Can you confirm if I have misunderstood anything?
Only partly true in para 3 he should have added 'at a distressed level'
It seems for a change to be very rich in facts (granted from TF's point of view) and without very much "spin" attached. I had difficulty getting my head around para three in particular!
I am looking initially at the first 3 para's
1. Some time before march 2012, TF tried to renegotiate the deal with ACL to include matchday revenues because of FFP. They were offered £500k pa rent inc matchday revenues if they paid £24m up front.
2. 18.06.2012 SISU & Higgs agreed and signed terms of agreement for SISU to buy the Higgs share of ACL for and undisclosed sum (presumably in excess of £6.5m)
3. To support this deal (maybe a requirement they were asked for?) SISU agreed to buy the £14.4m Yorkshire bank Mortgage AND discharge it in return for a lease that would be drawn up for 125 years.
I am not trying to rewrite the original, only pick the bones out of it to understand it.
Can you confirm if I have misunderstood anything?
Not according to PWKH IIRC
grego_gee
New Member
I am only looking for factual correction of what was said (not conjecture) from anybody that was there.
imp:
torchomatic
Well-Known Member
Bluegloucester
New Member
Fisher being economical with the truth
torchomatic
Well-Known Member
It would be interesting to get PWKHs thoughts on Fisher's quotes. Very interesting.
But you're making a couple of assumptions when you put your take, then ask your question. we don't know that Higgs were offered £6.5M. or more and we don't know that they were asked to support the deal by taking on the Mortgage .I am only looking for factual correction of what was said (not conjecture) from anybody that was there.
torchomatic
Well-Known Member
The Penguin
Well-Known Member
I think both of them see a certain version of 'truth' that is coloured by their own viewpoints, needs and biases.
I don't trust either of them, though at least in PWKH's defense, he is happy to at least volunteer his version of events on a semi-regular basis.
It's almost enough to make one hope this all does go to court in the hopes that the actual truth - no matter who it may purport to benefit - comes out.
ajsccfc
Well-Known Member
It's hardly common sense to use a reduced ticket offer/blackmail to justify how 'big' a club is. Particularly when clubs listed as 'smaller' have actually achieved things beyond losing in a JPT semi-final in front of a lot of disappointed people.
grego_gee
New Member
I only said in excess of £6.5m because I believe that was mentioned before as their original investment, and if they sign accepting something it would presumably be at least returning that.
imp:
grego_gee
New Member
I am only trying to draw facts from what JF has said. We can assume these facts as TF states them will be disputed by the other parties.
imp: