Danceswithhorses
Well-Known Member
Unsure as to why the club have left it this long to tell the fans of the debt for equity swap ?
Unsure as to why the club have left it this long to tell the fans of the debt for equity swap ?Agreed. If this was the League's doing I take back at least 5% of the insults I threw their way. Probably did more to help the club be sustainable there than any chairman has. Of course if they had ruled that CCFC Ltd was the club as they should we would have had a proper admin process and probably be debt free with new owners...
Without the proper accounting knowledge or expertise, any conclusions drawn from this will likely be ill-informed and wrong anyway. People will see what they want to see.
Unsure as to why the club have left it this long to tell the fans of the debt for equity swap ?
Unsure as to why the club have left it this long to tell the fans of the debt for equity swap ?
Massive good or massive bad ..im a bit simple sorryI dunno. Converting the massive debt millstone into equity can really only be seen one way. Even if you believe the FL madeit happen, it's still massive news for the club.
It makes the short term takeover of the club virtually impossible as no one is going to buy out the shares at the value now attached to them. It does however mean that SISU need a succesful club but history shows they won't be throwing big bundles of cash at it anytime soon.
Massive good or massive bad ..im a bit simple sorry
What value? The club's still worth fuck all, it's just Sisu own a lot more of that fuck all.
They have converted the debt in to shares so the value of those shares (to them not the general market) is 61m and as no one is going to pay even a qtr of that for the shares there will be no sale anytime soon.What value? The club's still worth fuck all, it's just Sisu own a lot more of that fuck all.
I dunno. Converting the massive debt millstone into equity can really only be seen one way. Even if you believe the FL madeit happen, it's still massive news for the club.
The value of shares is not determined by what you pay for them; it is determined by the worth of what they represent.... tthe club s not worth 61mThey have converted the debt in to shares so the value of those shares (to them not the general market) is 61m and as no one is going to pay even a qtr of that for the shares there will be no sale anytime soon.
totally agree.. the colllective value of the shares equates to the net assets of the club plus whatever the brand/golden share is worth...so who has a pound?
The better news is that if SISU want to see a return they have to increase the value of the club then sell
They have converted the debt in to shares so the value of those shares (to them not the general market) is 61m and as no one is going to pay even a qtr of that for the shares there will be no sale anytime soon.
So its basically ..do poorly and never get a return on their investment ..or get the club up the leagues to make the shares look appealing ..or just completely wipe them off and sell for basically a 9 million debtMassive good IMO. As we saw with the admin process the debt gives Sisu a lever even after they "leave" the club. It would need to be serviced or at least renegotiated and the payments or prospective payments would weight the club down for years.
Now it's equity, if and when Sisu give up the club, that's them gone (apart from any new debt run up). They're never going to convince anyone the club is worth £60m so for all intents and purposes it's written off debt. Making the club far more valuable to prospective buyers (or, you know a fans consortium - c'mon Grendel pull your finger out!)
Correct the shares are worth nothing on the general market the only people they are worth anything to is SISU. Look at it like buying a vintage car for £10000 then the market for that car dropping out and it being worth £1....you face a choice which is pay the running/storage costs of that car in the hope it gets back to the £10,000 or you can sell it ending up with no car and having lost the £10,000...you would keep the car in the same way they will keep hold of CCFC in the hope it reaches a figure close to what they have turned into shares.We were always going to be sold when Joy has had enough, this doesn't change that. In the real world, the club is worth nothing as it has no real assets. Therefore the shares are worth nothing, regardless of what was paid for them.
And shares can be just handed over ..like city fans did for sisu when they first cameCorrect the share are worth nothing on the general market the only people they are worth anything to is SISU. Look at it like buying a vintage car for £10000 then the market for that car dropping out and it being worth £1....you face a choice which is pay the running/storage costs of that car in the hope it gets back to the £10,000 or you can sell it ending up with no car and having lost the £10,000...you would keep the car in the same way they will keep holf of CCFC in the hope it reaches a figure close to what they have turned into shares.
If only! what in SISU's behavioural pattern up to now makes you think that they will give them away.And shares can be just handed over ..like city fans did for sisu when they first came
Correct the shares are worth nothing on the general market the only people they are worth anything to is SISU. Look at it like buying a vintage car for £10000 then the market for that car dropping out and it being worth £1....you face a choice which is pay the running/storage costs of that car in the hope it gets back to the £10,000 or you can sell it ending up with no car and having lost the £10,000...you would keep the car in the same way they will keep hold of CCFC in the hope it reaches a figure close to what they have turned into shares.
If only! what in SISU's behavioural pattern up to now makes you think that they will give them away.
Made a similar post (#36).One thing that is slightly odd is why wasn't Fisher shouting this from the rooftops when it happened? Granted everyone would have probably said he was lying but writing off £61m is a pretty big deal in anyones books so why not communicate that to the fanbase and spin it as a good thing SISU have done for the love of the club.
1) he's a muppet 2) he has no idea about good PR 3) he was too busy pretending to look at stadium sites 4) he was too busy untying balloons from his car 5) he's a muppetOne thing that is slightly odd is why wasn't Fisher shouting this from the rooftops when it happened? Granted everyone would have probably said he was lying but writing off £61m is a pretty big deal in anyones books so why not communicate that to the fanbase and spin it as a good thing SISU have done for the love of the club.
One thing that is slightly odd is why wasn't Fisher shouting this from the rooftops when it happened? Granted everyone would have probably said he was lying but writing off £61m is a pretty big deal in anyones books so why not communicate that to the fanbase and spin it as a good thing SISU have done for the love of the club.
Me I would spend the 3k others like OSB would argue spending the money in the past has not brought us success just more debts and a car still worth a £1OK, but would you if the car is losing you £3k/year? You can either spend some cash doing up the car and hope to sell it, or it will cost you at least that much in the future or more. The fact is, you're now not selling the shitty caravan welded to the vintage car as well, so people are more likely to give it a test drive.
Or something.
“We still need to be able to access all match day and non-match day revenue and that is why stadium ownership is absolutely essential" note he does not say building a stadium...could mean something or nothing with this bloke but its not the usual we must build message.
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