£45m (1 Viewer)

coundonskyblue

New Member
We repeatedly hear that sisu have put in £45m, and that we should be grateful for that.

In any other business, if the owner invested £45m and actually made the company substantially worse, would you not think they were incompetent?
 

Mary_Mungo_Midge

Well-Known Member
I'm waiting for an answer to this one. It would equate to an overspend in excess of 50 percent of turnover for each and every year they've been in charge, and during a time when their net receipt of transfer fees has been significant. If true it appears a staggering level of incompetence
 

torchomatic

Well-Known Member
Player wages, management wages, coaching staff wages, ancillary staff wages, policing costs, rent until last year(!), travel costs, agents fees, Ranson was on £300K a year (though still not as much as Richardson paid himself), small crowds, refurbished Ryton. The list goes on...

I would love to see some people on here spending their money keeping CCFC going.
 
But if they have written off a serious starting debt then surely this is what they always refer to. The question is have we paid off the debt as to write somethiing off surely they have to pay it off in the first place?
 

coundonskyblue

New Member
Player wages, management wages, coaching staff wages, ancillary staff wages, policing costs, rent until last year(!), travel costs, agents fees, Ranson was on £300K a year (though still not as much as Richardson paid himself), small crowds, refurbished Ryton. The list goes on...

I would love to see some people on here spending their money keeping CCFC going.

Do all other clubs not have those outgoings though?
 

Mary_Mungo_Midge

Well-Known Member
Player wages, management wages, coaching staff wages, ancillary staff wages, policing costs, rent until last year(!), travel costs, agents fees, Ranson was on £300K a year (though still not as much as Richardson paid himself), small crowds, refurbished Ryton. The list goes on...

I would love to see some people on here spending their money keeping CCFC going.

Not good enough. It's no good just listing the cost of sale items. All over this land, people run businesses by matching their expenditure to income. To fail to do so, and to be so very far away from doing so is nothing more than incompetence
 

coundonskyblue

New Member
But if they have written off a serious starting debt then surely this is what they always refer to. The question is have we paid off the debt as to write somethiing off surely they have to pay ot off?

Some of the debt was written off, most was just transfered to Sisu. Which I don't actually have a problem with, but Ranson should have been honest about this from day 1.
 

speedie87

Well-Known Member
Think a fair chunk of the sum was used to pay off creditors when they first took over. Haven't got exact figures on any of this to hand, but in a chronological order sisu's outgoings would be something like this,

1)purchase of shares to assume control of the business
2)Paying off of existing creditors at point of takeover - ie trade creditors, football creditors, hmrc, any loans, cash injections to cover overdraft

I would guess total spend at this point would have been about £15m


3) playing purchasing
3) then ranson sacked dowie and co
4) appoint Coleman and staff
5) more player purchasing (Eastwood!)
6) refurb of Ryton

From the time of takeover onwards the club is also operating at an annual loss - say averaging £6m a year - most of this money is wasted on player wages - as based on our wage bill we were underachieving in lge performance
In order to cover these losses sisu have to inject cash in- to start with these were in the form of loans. (I.e) they were planned to repaid

Later on sisu converted these loans to equity - this is a fairly common approach when it doesn't look like you will get the loans repaid anytime soon, as it tidy's up the balance sheet if you are looking for investment
 

torchomatic

Well-Known Member
Your question was how have SISU spent £45M. Not what outgoings other clubs have. I'm suggesting ways that £45M could have been spent in the last 5 years.

I'm sure they do. I'm sure those clubs don't have the millstone of the Ricoh Arena around their necks though.



Do all other clubs not have those outgoings though?
 

coundonskyblue

New Member
<p>
Your question was how have SISU spent £45M. Not what outgoings other clubs have. I'm suggesting ways that £45M could have been spent in the last 5 years.</p>
<p>&nbsp;</p>
<p>I'm sure they do. I'm sure those clubs don't have the millstone of the Ricoh Arena around their necks though.

My point was that any business people that can lose £45m and make a company worse is surely incompetent.
 

torchomatic

Well-Known Member
You suggested SISU had not spent that amount. I just offering suggestions on how they probably have.

<p>

My point was that any business people that can lose £45m and make a company worse is surely incompetent.
 

SkyBlue_Bear83

Well-Known Member
We repeatedly hear that sisu have put in £45m, and that we should be grateful for that.

In any other business, if the owner invested £45m and actually made the company substantially worse, would you not think they were incompetent?
Don't think anyone would deny that Sisus time as owners has been nothing short of disastrous but there is no one else willing to take the club on.
 

coundonskyblue

New Member
Don't think anyone would deny that Sisus time as owners has been nothing short of disastrous but there is no one else willing to take the club on.

Tim says he's written off the debt so their should be a queue of people wanting to take it on now.
 

Stevec189

New Member
@StringerSport: As predicted, #lcfc announce losses of £29.7m for the last year including £27.7m in wages (£500k per week) Thai owners owed total £60m+

This from Twitter but looks feasible. This is why football has sold it's sole and gone to hell in a handcart. LCFC losing £2.5M a month it is insane!
 

Grendel

Well-Known Member
All this conspiracy about sisu hiding money is nonsense.

The club when they took it over was losing well in excess of £6 million a year and needed 22,000 paying adults to break even. Paul fletcher said the council would eventually destroy the club and he was right.

There was also a little matter of creditors including the revenue to pay off.
 

coundonskyblue

New Member
All this conspiracy about sisu hiding money is nonsense.

The club when they took it over was losing well in excess of £6 million a year and needed 22,000 paying adults to break even. Paul fletcher said the council would eventually destroy the club and he was right.

There was also a little matter of creditors including the revenue to pay off.

How is the council responsible for a £6m loss a year?

Good old Paul Fletcher, the man responsible for building the Ricoh, key player in ACL, then jumped ship to CCFC and complained about the deal he was originally part of. No time for anything that man has to say. Basically he wanted the council to hand the keys over for nothing.
 

torchomatic

Well-Known Member
Odd. That's the first time I've heard a fan calling a board incompetent because they have SPENT money. Good job they did. We'd have no Club.

Not what I was suggesting. I have no doubt they have spent that much on the club. That is why they are so incompetent.
 

Snozz_is_god

New Member
Player wages, management wages, coaching staff wages, ancillary staff wages, policing costs, rent until last year(!), travel costs, agents fees, Ranson was on £300K a year (though still not as much as Richardson paid himself), small crowds, refurbished Ryton. The list goes on...

I would love to see some people on here spending their money keeping CCFC going.

Exactly, some people just don't get it, it's a football club, not a stall on Coventry market. The costs of keeping it running are enormous.
 

hill83

Well-Known Member
Odd. That's the first time I've heard a fan calling a board incompetent because they have SPENT money. Good job they did. We'd have no Club.

Unbelievable thread. One minute Sisu 'haven't spent any money' now it's 'they have but it shows they are incompetent'.
Most football clubs lose money.

Interesting angle on this thread though. Odd, but interesting.
 

torchomatic

Well-Known Member
Oh, so now you're making distinctions over whose money it is? You've never done that before.

So as long as they continue to waste the clubs money they are free from criticism?
 

coundonskyblue

New Member
Unbelievable thread. One minute Sisu 'haven't spent any money' now it's 'they have but it shows they are incompetent'.
Most football clubs lose money.

Interesting angle on this thread though. Odd, but interesting.

I've never said they haven't put money into the club. They've wasted it though due to their incompetence, and I don't really see how anyone can disagree with that.

Spending £45m to turn a mid table championship club into a mid table league 1 club is not good business practice.
 

shmmeee

Well-Known Member
So as long as they continue to waste the clubs money they are free from criticism?

You are an idiot. The clubs money gets spent. Very very quickly. Then there's more bills to pay, SISUs money pays that.

The biggest expense is our squad, are you saying they shouldn't back their managers like they have? I'd be inclined to agree but I think everyone knows this is an exceptional season outside of FFP and our best chance to bounce back up. Besides, when they forced the manager to cut his cloth, most on here were up in arms and claimed it caused us to be relegated. Can't have your cake and eat it.

Tl;dr: Sisu cut clubs out goings = incompetent. Sisu back the manager = incompetent. SBT logic.
 

coundonskyblue

New Member
You are an idiot. The clubs money gets spent. Very very quickly. Then there's more bills to pay, SISUs money pays that.

The biggest expense is our squad, are you saying they shouldn't back their managers like they have? I'd be inclined to agree but I think everyone knows this is an exceptional season outside of FFP and our best chance to bounce back up. Besides, when they forced the manager to cut his cloth, most on here were up in arms and claimed it caused us to be relegated. Can't have your cake and eat it.

Tl;dr: Sisu cut clubs out goings = incompetent. Sisu back the manager = incompetent. SBT logic.

I'm an idiot for having a different opinion than you?
 

Users who are viewing this thread

Top