skybluelee
Well-Known Member
Play in red and called United. I couldn't be less interested.
Acl to comment on Ricoh arena position (1 Viewer)
- Thread starter AFCCOVENTRY
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Play in red and called United. I couldn't be less interested.
Grendel
Well-Known Member
Yes, I know it's not as simple as income - expenditure = a good business. I mean if ACL are sustainable, then they are not desperate surely?
It was purely a question of your post, not an argument over exact finances
My point though is that there does not seem an obvious regular glow of cash to the business is there? People quote the hotel and casino but I thought they didn't even own these. So what is there? The exhibition centre. If you own a lease on a football ground that is non productive there has to be maintenance costs that you are responsible for. That in itself is a drain. If be very surprised if monthly cash flow isn't a major concern with ACL.
The football league is an owners club. Nothing to do with fans. They are obliged to look after the interests of the club owners. ACL are an irritant. The fans are causing embarassment and getting the league bad publicity - which could effect sponsorship - so that is the level of FL interest in fans.
They will not be helping ACL by giving information. They made, what they thought, was a simple deal, pay the 590,000 and we give you the share. Super. SISU agreed. ACL is kept quiet. Life goes on.
BUT SISU aren't like that. Now the league has a problem. SISU have found a new way of wriggling out of the deal, which the league probably never thought of. They probably didn't put any caveats in because they were looking for a way to keep the show going and maybe assumed SISU would be happy after swapping companies and breaking the lease.
What do they do now? Err think about a way out. That is why they cannot punish CCFC yet. They don't know what to do. The payment is obviously owed. That was the agreement otherwise they would have said so - and be out in one. SISU love litigation and are an owner in whose interests they must act. So a very difficult situation for the league. ACL have just stated the obvious. A bit hard for us to take, but in reality that is the position and the payment was agreed to by SISU.
As ACL say, SISU has signed a new deal in Northampton anyway. They are also trying to get leave of appeal - and at the same time talking about "healing and reconciliation".
What sort of people are SISU? Bonkers? Yes Tim you hit the nail on the head.
Grendel
Well-Known Member
Odd that ccfc92 asked me for proof. I'm sure he won't for this post even though it is emotive drivel with no factual detail.
ccfc92
Well-Known Member
yes, i see your point. a basic bank balance of 590k (for example) then run your slightly profiting business, and the 590k covers cash flow problems or unexpected circumstances, yes?
In that respect I agree. I just meant we don't know the ins and outs of ACLs bank balance (just like we don't know a lot of things re CCFC's situation
) but for all we know they could be running steadily, who knows.dongonzalos
Well-Known Member
Do they not get money from conferences, gigs and people renting offices?
fernandopartridge
Well-Known Member
Have you ever commented on a football thread?
ccfc92
Well-Known Member
on the contrary. I feel the FL need to set the record straight on this issue. I apologise for asking you a question.
Emotional drivel?
OK.
Who are members of the FL? Fans or clubs?
Have the FL denied that ACL are owed 590000 under the agreement?
Do SISU take part in litigation on regular basis?
Is the ACL statement hard to take for us? - Basically saying SISU must pay or else, and that there have been no approaches for an interim agreement?
Does the FL have a problem deciding what to do? If not, why aren't they doing anything?
How is that "emotional drivel"?
Sweeping the present situation under the carpet to suit yourself may be of help to you, but doesn't have an effect on the situation.
Ian1779
Well-Known Member
Since the JR result we've been by Anne Lucas that she's prepared to negotiate. But now it seems she's got fuck all authority to do so.
Michael then came up with his 'to good to be true deal' with fuck all detail. Turns out that actually him and his associates had no authority to offer deal, and clearly ACL would never have accepted it in a million years.
ACL claim to be owed 590K - this is generally not in dispute. But what they fail to acknowledge is that they have had 300K of it already.
It seems that there are more barriers to negotiation than just SISU.
Michael then came up with his 'to good to be true deal' with fuck all detail. Turns out that actually him and his associates had no authority to offer deal, and clearly ACL would never have accepted it in a million years.
ACL claim to be owed 590K - this is generally not in dispute. But what they fail to acknowledge is that they have had 300K of it already.
It seems that there are more barriers to negotiation than just SISU.
dongonzalos
Well-Known Member
Have SISU asked for a negotiation?
Ian1779
Well-Known Member
How are we to know. But we get line... the only thing stopping us from returning is Joy Seppala. This is clearly not the case is it?
shmmeee
Well-Known Member
When did they have the £300k?
How have ACL had 300K already? The deal is SISU (OEG) pay ACL 590,000 in order to get the golden share. If ACL win the lottery they are still owed 590000.
SISU have invented a new reason not to pay money and the FL don't know how to react. They probably didn't foresee this happening.
shmmeee
Well-Known Member
Well, its in Joys gift to settle the debts to be fair. She agreed to pay them.
Err, yes it is.
D
Deleted member 5849
Guest
We have no clue, as the football league appear to have no clue.
Which is rare genius on their part really.
shmmeee
Well-Known Member
But why do we think they have? Or is this the Robinson/McGinnity guarantee against lost income?
dongonzalos
Well-Known Member
From what you said about barriers
Anne has said the door is open for talks (no barrier)
Michael with due respect is not ACL (no barrier)
ACL has said any deal has to involve paying debts first, or I would guess they have to be part of the negotiation. This was the case on the Higgs negotiation so imagine this is standard and is not a shock to SISU?
Where is the barrier to Joy picking up the phone and reducing SISU's loses?
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Grendel
Well-Known Member
yes, i see your point. a basic bank balance of 590k (for example) then run your slightly profiting business, and the 590k covers cash flow problems or unexpected circumstances, yes?
In that respect I agree. I just meant we don't know the ins and outs of ACLs bank balance (just like we don't know a lot of things re CCFC's situation
All I am saying is if there is an issue I would call my friend Alan who would then tell Simon to stop mowing my lawn and put out a story that on the face of it looks pointless.
Ian1779
Well-Known Member
IIRC Simon I believe said that he was told by McGinnity or Robinson that they had paid 300K.... negotiated down from 500K
Snozz_is_god
New Member
It'll be interesting when the FL call in the £1m bond, my guess is they won't get it.
fernandopartridge
Well-Known Member
Why can't they have a discussion about a return and how the 590k could be repaid?
dongonzalos
Well-Known Member
Money from the guarantors is understood to cover ACL’s ‘loss of earnings’ rather than the agreement for unpaid rent insisted on by the Football League
dongonzalos
Well-Known Member
Completely agree
The phone has to picked up and rang first for that to happen
Certainly they won't pay. The only question is, is it due to ML not understanding the banking mechanisms, or has the Football League just got another 500K in a sponsorship deal and this should first be deducted from the 1m.
D
Deleted member 5849
Guest
Easy for the football league to confirm that then.
Then no issue.
Only one organisation is causing doubt... and unusually it ain't SISU!
blueflint
Well-Known Member
dongonzalos
Well-Known Member
The loss if earnings bit will be in the contract signed by the guarantors.
Como
Well-Known Member
I am sure that ACL would like to have a club back at the Ricoh, am equally sure they would not want it to be SISU owned, who would?
Seems to me they are just stating the obvious. Sounds like they have doubts about getting the money they are owed and would anyone want to deal with a tenant with that track history, just setting yourself up for more grief.
Seems to me they are just stating the obvious. Sounds like they have doubts about getting the money they are owed and would anyone want to deal with a tenant with that track history, just setting yourself up for more grief.
I would guess that they have a bad credit rating, at least with ACL. A prudent business would only deal with them on a cash up front basis. No credit.
In this case, ACL seem to be acting as a prudent business.
Ian1779
Well-Known Member
Well the 590K itself is a barrier isn't it? There's no way the two parties trust enough to do the transaction directly.. so there must be some 3rd party involved. So why can we not get clarity about this?
There are two key points here.
The 300K - has it been paid?
Have SISU put the money in the ESCROW?
I don't believe that if this 'agreement' was put in place after Otium being issued the GS that ACL aren't all over every fine detail of it. They must know if either of these have occurred.
It seems to me that either ACL are being economical with information or both SISU and McGinnity/Robinson are lying.
Ian1779
Well-Known Member
Why should the club be responsible for the earnings of ACL when they gave nothing to the club which directly helped them achieve the revenue in the first place?
Grendel
Well-Known Member
This is amazing news. You actually have the link to the statement from the football league regarding the issue if the golden share. Why are you hiding this? Sisu are gone tomorrow. Marty Cov is our saviour. Er, you do have the link don't you?
Broken Hearted Sky Blue
Well-Known Member
Isn't it? Have you ever met her,talked to her? I have she doesn't compromise,doesn't negotiate Fisher said she is bonkers,wrong she is evil.