Labovitch calls for independent ACL valuation (33 Viewers)

[Deleted member 5849]

Did he ever say that they wouldn't?

He also never said next season's central defence would consist of a heard of wildebeest and Steve Walsh.

 

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[Ian1779]

Our loans come from other 'arms' of SISU, yet they charge our club more than the rent in interest.

I suppose you will keep this up until someone shows you are wrong and then you will keep away from the thread as usual. Just like earlier when you tried to defend SISU saying everyone was wrong about their past and what they are up to until you saw the proof.

Or until you kill the thread with your repeated points based on how bad SISU are. You aren't interested in a solution, you just feel happy knowing there is someone to blame.

Back to the point though, there was no clear detail on exactly how it would work. So you are either a time-traveller with proof of it happening or you are just surmising as usual.

BTW - how many companies did they liquidate??

 

[Astute]

They charge interest, yes, but so would a bank - and ARVO is our bank. And BTW, it doesn't seem the interests have been paid, only accrued.

And what rate do they charge our club? Not a low one is it?


In the end it really doesn't matter to the club if the money coming in from ARVO is by loan or by equity.


Oh yes it does. Loans just build up the debt. Equity would count as income. This could count as the difference to the income from being in Northampton and give us a chance of getting back out of Division 3.

When the club is sold it will be for a price determined by the future prospects. If that price doesn't cover all the loans, ARVO will have to write off the deficit. If they refuse the club will be unsellable.

This is why our club and ourselves will suffer whilst they try and get the Ricoh.


It's the same with ACL - the price will be the same and Higgs/CCC will either get less for their shares or CCC will have to write off some of the loan.

​Or not sell until they get an offer they are happy with. They are not running the arena so badly that it is losing millions a year. Wish I could say the same for SISU and our club.

 

[RPHunt]

More distractionary nonsense from Labovitch.

In the real world, when one company wants to buy another, they make an offer, much like a couple of multinationals that have been in the press recently. Pfizer have obviously put a value (to them) on Astra Zeneca and have made a couple of offers- they didn't go along and say "we want to buy you, go and get an independent valuation".

I'm sure Labovitch and SISU know this and the latest demand is purely something for the fan boys to shout about.

 

[Sky Blue Harry H]

He also never said next season's central defence would consist of a heard of wildebeest and Steve Walsh.

I've heard of Steve Walsh, but never heard of Will de beest - is he Dutch or South African?

 

[Jack Griffin]

Nail on the head....they can criticise ACL all they like....but SISU want that position. They wanted to be mortgage lender and landlord, then sell, that was their game plan. Stuff CCFC!

Succinctly put, that is why SISU have to go. Let them in and they will leech of the club for ever, it will be worse than the Glazers.

 

[Sky Blue Kid]

http://aprisonofmeasuredtime.wordpr...nd-sisu-capital-60-million-in-debt/.....Would love to hear your replies Ian and Godiva.

 

[Rusty Trombone]

They value it at zero, the 2 million offer was a charitable donation. That's what SISU do not the other that's what we do thing.

Come on if you are going play this game please get your facts right

Some facts for you Don.

8 MR JUSTICE LEGGATT: Sorry, you're suggesting she thought

9 the company was worth nothing, but still would pay

10 5.5 million for it?

11 A. She recognised that they were a charity, yes.

12 MR JUSTICE LEGGATT: You're not a charity, are you?

13 A. No.

14 MR JUSTICE LEGGATT: Why would she pay 5.5 million for

15 something worth nothing?

16 A. I don't know. I don't make the final decision. I can

17 only --

18 MR JUSTICE LEGGATT: Okay.

 

[Ian1779]

http://aprisonofmeasuredtime.wordpr...nd-sisu-capital-60-million-in-debt/.....Would love to hear your replies Ian and Godiva.

I've read this several times. Are you going to be more specific about which bits you want commenting on... only it's a rather long read.

 

[Sky Blue Kid]

Try reading the bit that shows combined yearly charges of £1.5m interest and well over £2m management fees=£3.5m...I think it's.."Income"

 

[Godiva]

Try reading the bit that shows combined yearly charges of £1.5m interest and well over £2m management fees=£3.5m...I think it's.."Income"

Management fees - again. Please lookup OSB's explanation of management fees. You clearly don't believe me, but I know you respect OSB on his field of expertize, so please look it up.
And while you're at it, please look up his post on the latest accounts and see what he says about the interests.

 

[Sky Blue Kid]

CCFC Ltd show interest payments of £721,383 (2010, £392,318) were made in the year on loans outstanding as of 31 May 2011 of £2,815,063 (2010, £870,371) which are secured on future income streams, most likely secured against next years season ticket sales. The interest rate appears very high, around the 25% mark of the outstanding obligation on the balance sheet. SBSL Ltd show interest paid as £1,0124,498 (2010, £442,438) which has more than doubled in value. SBSL have a note in their accounts that £2 million is owed to monies forwarded from Arvo Master Fund Ltd that is not due to be paid for over a year but no mention is made if interest is accruing and due on that money.

 

[ccfcway]

whens the next Garlick meeting for the new stadium ?

 

[Godiva]

CCFC Ltd show interest payments of £721,383 (2010, £392,318) were made in the year on loans outstanding as of 31 May 2011 of £2,815,063 (2010, £870,371) which are secured on future income streams, most likely secured against next years season ticket sales. The interest rate appears very high, around the 25% mark of the outstanding obligation on the balance sheet. SBSL Ltd show interest paid as £1,0124,498 (2010, £442,438) which has more than doubled in value. SBSL have a note in their accounts that £2 million is owed to monies forwarded from Arvo Master Fund Ltd that is not due to be paid for over a year but no mention is made if interest is accruing and due on that money.

No mentioning of management fess? Odd.

Is that from the latest accounts? No, I think not.

The interest rate is not shown specifically to be 25%, but calculated from the remaining balance. That is probably not precise. It could also include loans other than ARVO/SISU. The buyout of the mortgage of Ryton (Ransons desperate last grasp for cashflow)? Factoring of season tickets? We don't really know the exact composition.

 

[skybluefred]

The answer is simple. Pay what ACL value it at or make an offer and see if it gets accepted.

Steady on S B Kid, that would take common sense and that seems to be in very short supply.

 

[shmmeee]

Can't wait to see some on here to demand an independent valuation of Wilson if someone states publicly they want him but refuse to put in a bid. That's how it works isn't it?

If they want a valuation, can't they offer one and wait for the council to refuse? (Or have they already?)

 

[Godiva]

Can't wait to see some on here to demand an independent valuation of Wilson if someone states publicly they want him but refuse to put in a bid. That's how it works isn't it?

If they want a valuation, can't they offer one and wait for the council to refuse? (Or have they already?)

Interesting analogy.

Christie will probably be sold at a price set by an independent valuation ... tribunal will decide the fee.

 

[No future with SISU]

When you buy a house don't you get an independant valuation?

Yes and if the owner thinks it is worth more, you will have to find a different house as he will have told you to piss off

 

[Hobo]

Interesting analogy.

Christie will probably be sold at a price set by an independent valuation ... tribunal will decide the fee.

Is that not only because there are FL/FA rules already in place around age and contracts?

 

[No future with SISU]

Oh well best stay in Northampton for a bit longer then.

Is this the best you can say, run out of ideas?

 

[DaleM]

It's like groundhog day . AGAIN .

 

[Hobo]

It's like groundhog day . AGAIN .

Or a season of Sundays

 

[No future with SISU]

Not that I would want that, but why is it ok to pay the rent to acl but not sisu?

I cannot see you as some one who has CCFC future high on your list. If SISU get total controll of the RICOH and it makes money it will be in a different company to CCFC. Then SISU will take profit from the RICOH and load debt on CCFC with no investment into the club. Any one who thinks SISU getting hold of the RICOH will solve our problems are in living in cloud cuckoo land

 

[No future with SISU]

So you are saying acl and the council are doing it out of spite?

ACL and the council are saying SISU cannot afford the RICOH

 

[Mr T - Sukka!]

Surely the Ricoh is worth £113 Million as this is what it cost to build, or is this too simple?

 

[Nick]

Surely the Ricoh is worth £113 Million as this is what it cost to build, or is this too simple?

Bit too simple

 

[Grendel]

Surely the Ricoh is worth £113 Million as this is what it cost to build, or is this too simple?

It's absurd.

 

[Mr T - Sukka!]

It's absurd.

Whats absurd? The cost to build it? Are you saying it should not have been built?

Ok, genuine question if it is absurd who should lose out on the money put in to build it?

 

[Nick]

Whats absurd? The cost to build it? Are you saying it should not have been built?

Ok, genuine question if it is absurd who should lose out on the money put in to build it?

Surely it is the same as building any property? The price won't always stay the same will it? If it goes down, tough shit, if it goes up then bonus.

 

[Mr T - Sukka!]

Surely it is the same as building any property? The price won't always stay the same will it? If it goes down, tough shit, if it goes up then bonus.

Yes i get that, its the same as SISU's investment in CCFC, they put money in by the millions and lost it.

I guess there are going to be losers on both sides of this. SISU just seem to say they are not interested in it then say they have moved on and building their own stadium. They then come out and keep talking about the Ricoh.

 

[Nick]

Yes i get that, its the same as SISU's investment in CCFC, they put money in by the millions and lost it.

I guess there are going to be losers on both sides of this. SISU just seem to say they are not interested in it then say they have moved on and building their own stadium. They then come out and keep talking about the Ricoh.

It is one big game of poker

 

[ccfcway]

It is one big game of poker

for their sake i hope they are better at poker than football

 

[cloughie]

When you buy a house don't you get an independant valuation?

I own more than 1 house but I would tell anyone, who wishes me to get an independent valuation for any of them that they to wish to buy, to get an independant valuation if they wish,

Yet as I do not wish to or have to sell any of them then its a complete waste of time

more lobotomy spin

 

[Rusty Trombone]

Surely the Ricoh is worth £113 Million as this is what it cost to build, or is this too simple?

The thread is about ML wanting an old valuation of ACL. ACL don't own the stadium, they own the lease. Not sure whether SISU still want to own the stadium, but the club needs to own the lease to generate any revenue.

 

[ccfcway]

The thread is about ML wanting an old valuation of ACL. ACL don't own the stadium, they own the lease. Not sure whether SISU still want to own the stadium, but the club needs to own the lease to generate any revenue.

wont they own the lot when they build the stadium ?