Rusty Trombone
Well-Known Member
Are you suggesting that the loan from the Council is being paid back as part of the deal, and that the loan will then be due to whoever is paying the Council?
Sepalla interview (6 Viewers)
- Thread starter Limey
- Start date
Are you suggesting that the loan from the Council is being paid back as part of the deal, and that the loan will then be due to whoever is paying the Council?
Grendel
Well-Known Member
Well according to the telegraph dead right - hence the £20 million deal. The council are discharging the loan which will then have to be funded elsewhere.
Rusty Trombone
Well-Known Member
Could be, I think also though that by Wasps (assuming they get 100%) taking on the loan they are maybe including this in the reported £20m deal, so as to try and justify selling, as the price appears higher.
So by that reasoning if Sisu get 50% will it cost 10million ? Or 3million and loan liabilitiy of 7 milllion. ? I think it's the 10 myself but like other posters who have suggested this I'm probably going to be shouted down by a "superior"intellect .
Calista
Well-Known Member
SISU, as Mr. Fisher has assured us, are “good at building relationships”. And to be fair, this interview with Ms. Sepalla contains some fine examples of how to convince another business that they should enter into a partnership with you …
“It’s a complex situation having 50/50 but it’s not to say we can’t work it out. We would like to secure our position for as long as it takes to build a new stadium” [nothing beats commitment in a relationship!]
“I don’t want financial risk exposure to Wasps” [why is this even a problem – surely SISU would be on hand to give them advice on running a successful sports club and keeping it debt-free]
“It’s a complex situation having 50/50 but it’s not to say we can’t work it out. We would like to secure our position for as long as it takes to build a new stadium” [nothing beats commitment in a relationship!]
“I don’t want financial risk exposure to Wasps” [why is this even a problem – surely SISU would be on hand to give them advice on running a successful sports club and keeping it debt-free]
Rusty Trombone
Well-Known Member
So by that reasoning if Sisu get 50% will it cost 10million ? Or 3million and loan liabilitiy of 7 milllion. ? I think it's the 10 myself but like other posters who have suggested this I'm probably going to be shouted down by a "superior"intellect .
Could be any or none of those figures, we're all guessing.
It would seem odd to me that the loan is already cleared as that would increase the price of the Higgs share without them paying the loan. Maybe any possible loan clearance is conditional on getting the 100%. Either way it appears that the price is £3m plus taking on a share of the loan, or a higher cash price, both don't seem to be far away from a total of £10m to me (as a guess).
More contradicting statements ? I was told back in July by somebody on the new stadium committee that the club had shared the location of the new ground with them but they couldn't tell me due to confidentiality, now it's " we have two locations, and hope to announce it this year"
Gazolba
Well-Known Member
Who exactly have SISU ever built a relationship with, except possibly with their lawyers? They don't relate to the fans (got us relegated, moved to Northampton, sold best players), they don't relate to the stadium owners (rent strike, lawsuits), they don't relate to the Football League (failing to file accounts, transfer embargoes).
RoboCCFC90
Well-Known Member
They brought us back to the Ricoh from our vacation in Northampton..
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RoboCCFC90
Well-Known Member
Right.. Well despite saying the "Ricoh is not one of them", A) They did bring us back here (albeit temporarily on the outlook), B) We did leave in the first place when there plan was to see us stay at Sixfields..
Crippled our Club or reduced Costs in line with Revenue? Where could they have spent more money? Instead of in the past which is no longer relevant..
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Astute
Well-Known Member
And said within a couple of days that they were still building their own stadium........
And the plan was to distress ACL. They only seem to have brought our club home when they knew that their plan had failed and they had lost all chances of ownership.
Or do you know something that the rest of us don't?
RoboCCFC90
Well-Known Member
I used a lighter hearted word on my point then exile or relocation..
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RoboCCFC90
Well-Known Member
........ And you expected Rome to be built in a couple of days Astute?
Like I said to you yesterday Astute it's all about opinions, you have the belief that Sisu were trying to distress a company to obtain it's assets on the Cheap.
If your asking me the question of do I directly know anymore information to suggest that I would be able to tell you anymore than you have suggested, then no I do not, the Club have stated that there intentions were never to distress ACL, but people will perceive those comments in a different manner. That said you have suggested a theory which from what I can see works off the fact that Sisu used the Club as a means of taking it from the Ricoh and moving it to Northampton, no concrete base just a theory based on speculative information gathered by yourself.
The only reason it has only gathered any such voice, whereby it has been suggested in the media that this could be the case, is because so many have people said it, if one person says something it can mean nothing, but how many people have said that "Sisu are trying to distress ACL" 10, 100, 1,000, 10,000? Sooner rather than later the implication was going to be louder..
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dongonzalos
Well-Known Member
Robo did a high court judge having reviewed all the evidence conclude that SISU were trying to distress ACL for their own gain? Or have misunderstood that? Is this not where astute gets this from?
Astute
Well-Known Member
So it isn't true because the club stated so? In our experiences so far it seems that you have a better idea of what is going on if you take the opposite of what SISU say to be true.
Debt free, three weeks, building bridges, building a stadium.......yet you seem to think that SISU are telling us the truth this time.
RoboCCFC90
Well-Known Member
I am going to elaborate on this:
When Sisu first took over the Club in 2007 historically we were Club that had been spending behind it's means for a very long time.
When they came in and Joe Elliot proclaimed "This is a new era for Coventry City FC" I don't think Sisu did their due diligence accurately on the Club or they would have never touched us, what people hoped for is they would throw a bit of money at the Club and the playing staff, but Higgs' share in ACL and provide us all a better future in the Premier League, but that has never materialised.
I think after year or two Sisu began to realise that Igwe, Ranson and others were to incompetent and Sisu realised that the expenditure they were putting into the Club was at a ratio where they were not seeing a Significant return, at that point you can do a number of things:
- Sell up
- Generate more revenue (but then without a home owned by the Club it was always going to be difficult)
- Cut your costs to bring them in line with your revenue.
What they ended up doing was the latter, because Sisu formulated that they would have a long term plan that included cutting costs, while living within that current revenue, but planning for a future in which they could control. Relegation to League One is a consequence of that and nothing less, many have stated that they believe Sisu obtained relegation intentionally, but this is just another stick to beat the owners with..
After 3 more years down the line they are currently bringing there revenues in line with their costs and have even stated that the Club is in line to be making money this year, but the hurt will be now if we do not find a way to make more money in the short - long term, the shares of ACL is available at a price of £2,7M (not what Astute quotes at £10M) it's time for the Club to purchase the shares in the ACL and the Ricoh and start to benefit from a Ground that was built for the Club (albeit sold to a franchise Rugby Club from London, without offering any such option to the Club the Ricoh was "built for") and start to grow again.
Many fans have stated that ticket prices are to high, but then if that continues to be the Clubs only sustainable revenue stream then of course the Club are going to make it as beneficial as they can.
I hope Higgs do end up giving the information Otium/Sisu/CCFC need to Paul Appleton and the owners, we should all be pushing them for it up until the 8th, the Trust, CT, the Club, Observer, Sky Sports, The Romans, etc, as for reasons I have previously mentioned.
People are fed up with where we are and how we are suffering, yet we doomed to stay here if we cannot move forward, it appears the preverbal wall has been placed in front of the Club and the Owners, now it's whether they can negotiate to make it past this latest hurdle..
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RoboCCFC90
Well-Known Member
By this comment it would appear not:
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Astute
Well-Known Member
Most of us had this suspicion and the judgement made us more or less know that we were right.
But like Robo said SISU tell us the truth and Fisher said that the judge didn't know what the truth was and three other judges would disagree with him
RoboCCFC90
Well-Known Member
What's to say they haven't built bridges? The Trust has been more actively included with respect to consultation by the Club.
A Stadium was never going to be built so quickly so you can write that argument off..
"Three weeks" I don't know what ML was thinking by saying this I believe it has something to do with why he is no longer apart of ongoings at the Club.
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James Smith
Well-Known Member
What I don't understanď is why has there been so many conflicting or contradictory information released by the club/sisu. We've been told that We've moved on from the Ricoh, Plan A is the new stadium, We're not going back to the Ricoh, We won't interfere in the sale to Wasps, We are interested in the Higgs share but plan A is the new stadium etc. (I'm not saying the council haven't done something very similar with the moving of teams etc.) Why if the Ricoh was still very much Plan A didn't we come out and say as much? I'm perfectly prepared to believe/accept that things change over time and what might be correct one day is liable to change, that's understandable. Why then did she come out and say this when she said recently that she won't interfere in the sale to Wasps? What impression does the new statement that she says we're still pressing ahead with the new stadium (almost got it down to one site now) whilst considering buying the Higgs give to Wasps? Does that not send yet another mixed message about our plans for the future?
Would we not have been in a better position if we'd not come out and said that the new stadium was the way forward. We could have avoided giving the council a potential excuse for the sale to Wasps e.g. "You said you didn't want it!" So have Sisu actually spoken to the Higgs or are they talking through Mr Appleton? Some educated posters (OSB58, Grendel etc.) on here have concluded that doing something involving Ltd is highly unlikely to succeed. So hopefully we're exploring all the options but at the same time not pinning all our hopes on the first chance option in Ltd. If they haven't approached the Higgs directly then why not?
How have we managed to get to a stage where the Higgs (given their history with the club) have even considered selling to Wasps instead of us? How pissed have Sisu made them? Has the at the time brilliant move of things from Ltd. to break the lease come back and bitten us on the backside? (For that matter has the lease actually been legally broken?) Why didn't they consider the possibility that given the messages coming out of the club/Sisu about having moved on, the council would consider selling to somebody (even if it was hypocritically to Wasps) else? Yes we need the revenue from our stadium and yes we should be bidding for the Higgs share if it's available - but for goodness sake stop with the mixed or conflicting messages.
This is one giant clusterfeck!
Astute
Well-Known Member
Wow Robo. Nothing like glossing over all the crap that they have put our club and us through is there.
They have failed miserably because they didn't have a clue how to run a football club and tried steam rolling everyone who had anything to do with our club. And they have failed at every attempt.
They have failed miserably because they didn't have a clue how to run a football club and tried steam rolling everyone who had anything to do with our club. And they have failed at every attempt.
J
Jack Griffin
Guest
I've been pointing this out for ages, SISU have loaded have a huge debt millstone round the clubs neck, yet another reason to be wary of doing business with them.
If anyone is going bust it is CCFC, they lost twice as much as Wasps in their last published accounts & this years accounts which include the Sixfields fiasco are bound to show more losses.
Talking about Wasps going bust is just misdirection so people look the other way instead as at the perilous financial position of CCFC.
J
Jack Griffin
Guest
Well Robo, another statement from Joy, this time about a land deal, do you want to bet that if this one will bear fruit?
Astute
Well-Known Member
You are right. Rome wasn't built in a day. But at least they had the land to build on. All we have is a couple of pictures. By the sound of it you think that this stadium will be built. If so it is only you and RFC that thinks so.
The bridges that needed to be built were between SISU and Higgs/CCC. But they kept burning them before they had even laid the foundations. Which is why we are where we are now.
RoboCCFC90
Well-Known Member
Where did I say that? Putting words in people's mouths there Astute...
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Hobo
Well-Known Member
Sepalla wanting more clarity well thats a laugh.
Wasps high risk financially and CCFC arent?
I bet Wasps are thinking how would a 50/50 work with these jokers.
No more than a SISU PR exercise and preparation for some failed micky mouse bid....but it wont be their fault.
I believe CCFC need a share in the Ricoh but we wont get it. There will be more excuses more court action...extended misery.
Sepalla is looking more like a hedge fund opportunist, but now the wave has subsided is struggling to deliver as the savy hard hitting business person.
Her efforts seem focused on Higgs and CCC....so it is all PR. The focus should be on engaging with Wasps to bring this deal home. I believe she is setting up a failure.
Wasps high risk financially and CCFC arent?
I bet Wasps are thinking how would a 50/50 work with these jokers.
No more than a SISU PR exercise and preparation for some failed micky mouse bid....but it wont be their fault.
I believe CCFC need a share in the Ricoh but we wont get it. There will be more excuses more court action...extended misery.
Sepalla is looking more like a hedge fund opportunist, but now the wave has subsided is struggling to deliver as the savy hard hitting business person.
Her efforts seem focused on Higgs and CCC....so it is all PR. The focus should be on engaging with Wasps to bring this deal home. I believe she is setting up a failure.
torchomatic
Well-Known Member
Christ, what a load of bollocks this thread is. Ten minutes of my life I'll never get back.
RoboCCFC90
Well-Known Member
torchomatic
Well-Known Member
No, it was my own fault, when I saw Jack posting and the amount of "likes" Astute was throwing around like confetti then I should have stopped reading.
RoboCCFC90
Well-Known Member
Astute
Well-Known Member
Astute
Well-Known Member
skybluetony176
Well-Known Member
It is very consistent with the observer article the thread is about.