skybluehugh
New Member
Right back at ya.
ACL - played hardball and lost! (19 Viewers)
- Thread starter mrtickle
- Start date
Right back at ya.
skybluelee
Well-Known Member
I will eat all my replica City shirts (all 37 of them) if SISU build a new stadium.
hutch1972
Well-Known Member
Dont eat them Ebay my friend , sold all mine over the last few months, netted me £520 ( kept the 87 one )
James Smith
Well-Known Member
Buying players? When has that bothered SISU? isn't this yet another transfer embargo we're under thanks to the lack of accounts?
torchomatic
Well-Known Member
I can understand WHY ACL rejected. I really can. But for the life of me I can't really see how it helps Coventry City and us. The fans.
italiahorse
Well-Known Member
At the end of the day SISU have ran up a massive debt, how its so big I have no idea.
The underlying fault here lies firmly with the SISU debt accrued.
Yes, ACL have taken £8M off SISU for stadium rent, a small proportion of the £60M debt.
I guess ACL see this debt accumulation continuing and SISU plans away from the Ricoh confirm this.
Hopefully this rejection will see PA come back with a further proposal which he is allowed to do, within his powers.
Evidently the new proposals reference rent reductions etc which were under consideration since Tuesday by SISU were met at the meeting with a "no comment"
The underlying fault here lies firmly with the SISU debt accrued.
Yes, ACL have taken £8M off SISU for stadium rent, a small proportion of the £60M debt.
I guess ACL see this debt accumulation continuing and SISU plans away from the Ricoh confirm this.
Hopefully this rejection will see PA come back with a further proposal which he is allowed to do, within his powers.
Evidently the new proposals reference rent reductions etc which were under consideration since Tuesday by SISU were met at the meeting with a "no comment"
mrtickle
Member
It doesn't.
James Smith
Well-Known Member
My worry has always been that ACL weren't bluffing when they said that they can survive without CCFC and they manage to do so*. We're then homeless and in need of the White Elephant that Young Timothy claims he will build, well does anyone really think they'll build it? So we're likely never to return to Coventry under SISU ownership which is just F*cking great.
*I'd put money on more legal challenges from SISU now to try and stop that being possible.
jesus-wept
New Member
WE WILL BE PLAYING AT THE RICOH. This correct decision by ACL has sisu, the football league AND importantly Northampton Town squirming now. What happens now ? The ball is well and truly in the opponents court with all sorts of spin on it. As I said I believe now more than ever we will play Bristol City at the Ricoh an important psychological battle to win.
italiahorse
Well-Known Member
ACL took £8m in rent. SISU accumulated £60 in debt. Duhhhhhhhhh
mrtickle
Member
I wouldn't trust either side to organise a piss up in a brewery.
Can see ACL sorting it out. Gut feeling is sisu may doom CCFC into oblivion.
Sky Blues
Active Member
The club should never have sold Highfield Road and tried to build a new stadium when it did not have the money to complete it...
And, according to your logic, it should not have turned to the council for help but should have become homeless years ago? :thinking about:
Then why not just agree to the CVA and say 'bye'? They'd get some money back and have the moral high ground. Smacks of vindictiveness to me.
What a pile of shit you write - the only ones squirming are acl - the league have rejected their complaint already and they have no chance of winning a court case with sisu or Northampton- acl are finished and have lost all credibility - a busted flush .
The game is up and both sisu and acl can hold their heads in shame.
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mrtickle
Member
So ACL made £8m and sisu lost £60m and you think sisu are bad.
Actually, I don't want sisu here but hold ACL equally to blame for our demise.
ACL have seen CCFC to be a cash cow but the cash has dried up.
Your desperate for cash so you sell your house to a friend for a pittance. He then charges you a high rent and takes a load of income from your business you run from home that he has nothing to do with. Would you stay or move? Would you think he was doing the right thing by selling it back to you at full cost despite getting it for next to nothing. Legally he's in the right but morally!!!!
James Smith
Well-Known Member
Maybe because they wanted to keep us in Coventry where we belong? Just a thought?
Now if you're talking about vindictiveness it isn't on this point that you could level that at ACL, maybe you could about doing a SISU on NTFC.
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torchomatic
Well-Known Member
No, I didn't think so. I presume ACL think CCFC fans will be congratulating them on their performance today?
Nick
Administrator
How has rejecting the CVA kept us here?
torchomatic
Well-Known Member
GaryPendrysEyes
Well-Known Member
In the end no one in their right mind could trust Sisu, with their record of business failure and unethical practice, with the Ricoh.
Sisu took on the rental contract, if they couldnt afford it or didnt like it they shouldn't have signed it. Professional businesses dont end up in the utter shambles Sisu led us to. The buck stops with Sisu, they are the owner and are responsible for CCFC's well being.
Well it aint very well is it!??
Sisu took on the rental contract, if they couldnt afford it or didnt like it they shouldn't have signed it. Professional businesses dont end up in the utter shambles Sisu led us to. The buck stops with Sisu, they are the owner and are responsible for CCFC's well being.
Well it aint very well is it!??
Sky Blues
Active Member
As far as I am aware ACL have not taken a penny out of the Arena yet. There was a £21m loan taken out to complete the building of the venue and your £8million figure comes very close to accounting for why that loan is now ~£14million. In the meantime the Arena has also been maintained and improved, we are told.
mrtickle
Member
If they wanted to keep us in coventry they'd have reduced the rent when it was first brought up. Liquidation does not help us stay in coventry in fact it almost guarantees we won't
Here we go again with the petty point scoring. Both ACL and Sisu have fucked us over but there's still people crowing about one party being more guilty than the other. The proportion of guilt matters not a jot to me, the team surviving is the important thing.
mrtickle
Member
The club were within minutes of ending. They didn't have time for lease meetings.
It's been negotiated dead quick now hasn't it !!!!
The Prefect
Active Member
Where do get the fact that SISU have lost £60m?
It is understood that they acuquired £30m of 'debt' at a vastly reduced price when they bought the club. Also, their debt was funnelled through a multi-tier corporate structure. If CCFC go into liquidation they lose very little as the debt still exists elsewhere in the corporate structure. It is possible with multi-tiered companies to structure the debt so that when one business fails the others still owe the money.
CCFC going into liquidation is irrelevant to SISU. Why do you think they have let it happen?
torchomatic
Well-Known Member
skybluehugh
New Member
And SHITSU are our knights in shinning armour. How blind some people chose to be baffles me.
MartinOwlMan
New Member
Sheffield Wednesday fan in peace. Just wanted to say I was really saddened to see that your club has gone into liquidation. You the fans definitely don't deserve this and I wish you a speedy route out of the mess and back competing at a higher level where you belong.
TheParsonsHose
Member
mrtickle
Member
I don't disagree, it's just us fans that lose out the most.
James Smith
Well-Known Member
Not sure at all although didn't that nice poster true sky blue say that it isn't all over yet and a deal can still be done? I am actually seriously hoping that ACL have some master plan to counter the SISU one to move us to Sixfields and rejecting the CVA was part of that. The only thing it does I think give us is an investigation into the Ltd and hopefully all the connected companies. I'd rather it was everyone getting investigated but for a start this will do.
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mrtickle
Member
So the council have got a £100m stadium for £24m but we're pay the loan and you think that's ok.
I don't want sisu running us, I also the club to own it's home!
GaryPendrysEyes
Well-Known Member
What apologist nonsense. Any professional business does due diligence to ensure all risks are assessed and mitigated. They did due diligence and then signed to take over contracts. You act like Sisu are dewy eyed, naive softies- they arent and never were. They just screwed up.
covcity4life
Well-Known Member
mrtickle
Member
I don't think sisu are good at all but some people se to lay the blame solely at their feet. They've put the money in (on paper at least) but ACL have took took took. They're both shit!