shmmeee
Well-Known Member
As always, put better than I could manage.
They wouldn't even need to liquidate, just stop paying the bills and wait for someone to put them into admin then don't submit a bid to buy the club back out of admin. If someone else comes in the have to make a pence in the pound offer to repay SISU, if noone comes in club ceases to exist.
Yep if Sisu hadn't put us into Administration there wouldn't have been a CVA to reject.
If they hadn't of committed crime one, crime two wouldn't have happened....
WM
Yep if Sisu hadn't put us into Administration there wouldn't have been a CVA to reject.
£70 million is the official debt in appletons report.
Astute along with everyone else knows the true debt to ARVRO is substantially less but he likes to use it when it fits his argument.
I'm not sure where this £70m figure has come from? Have I missed something or is this something that the doom and gloom merchants have plucked from thin air?
£20m would be cheap? Didn't the Higgs offer to sell their half for something like £4.6m? If that's the case, the £20m is very expensive.
And in anycase, it doesn't matter what figures we're talking about, a club with a stadium is more attractive that a club without a ground. Surely you can see that?!
WM
I was more getting at the fact that if they had of carried out their due dilligence when purchasing the club, we wouldn't be in Northampton....
£70 million is the official debt in appletons report. Astute along with everyone else knows the true debt to ARVRO is substantially less but he likes to use it when it fits his argument.
Oh that's odd James didn't ACL declare an administration order and the only reason sisu put the club into administration was to get their preferred choice of administrator?
Fact - yes or no?
So you are shit at maths as well then?
Try again.
If SISUE hadn't tried to send ACL to the wall we wouldn't be in Northampton.
Oh that's odd James didn't ACL declare an administration order and the only
reason sisu put the club into administration was to get their preferred choice of administrator?
Fact - yes or no?
Not as shit as you are at reading by the sounds of it.
Shame you've got so touchy about it though. Hey ho.
Read this next bit slowly and try and comprehend the words, and only these words that I type: Had SISU carried out proper due dilligence when purchasing CCFC, they should've realised the potential risk of further releagtion/s, resulting in a loss of income, meaning bills would be harder to pay. One of the largest fixed costs when they took over was rent. Had they considered this at the time, they might have done a number of things - a.) not purchased the club at all, b.) started rent reduction discussions then or c.) start Ricoh purchasing enquiries then.
Ok...do you get that? If not, I'm not going to spell it out any clearer. That's my thoughts on the matter...don't let your own agenda get in the way of what I've typed above.
WM
Your mixing up ACL and the freehold. You're also conveniently forgetting that the Higgs share was available so cheap because of the deal struck on sale (and that in the name of good will Higgs knocked more off that price). Now that deal is void due to CCFC Ltd being liquidated you're paying market rate. And god knows what that is, but it's certainly more than the previous offer.
£70m seems a bit high for our debt to me, but it was certainly £60m in the summer and with low gates, legal fees and the standard management and interest fees another £5-10m seems not too far off the mark.
AAAARRRRRGGGGHHHHHHHHHHHH! This all happened after they COULD'VE CARRIED OUT BETTER DUE DILLIGENCE!!!!
Jesus Christ Astute, do I need to draw you a picture?
Sisu had non-Sisu board members highlight the rent as an issue years ago and said it wasn't a problem.
Let's not pretend that it was all a massive surprise last year.
I genuinely couldn't remember the details of the 'Higgs Share' offer, so cheers for pointing me in the right direction Shmmeee.
I'm confident that my original point still stands though. Anyone who thinks a club without a stadium is a better option to buy, than a club with a stadium, needs to head back to the men in white coats.
WM
I genuinely couldn't remember the details of the 'Higgs Share' offer, so cheers for pointing me in the right direction Shmmeee.
I'm confident that my original point still stands though. Anyone who thinks a club without a stadium is a better option to buy, than a club with a stadium, needs to head back to the men in white coats.
WM
Yes. It might do better than coming out with poor excuses for SISUE on why we are playing in Northampton.
I've not excused them once for playing in Northampton? Again, your reading is MUCH shitter than my maths old boy.
WM
We all agree with this. But who would pay what SISUE would want plus the price of paying for the Ricoh for a third division football club?
You've just spent the best part of 30 mins disagreeing with me!
As for your question Astute, I don't know the answer to that. A vision/hope I hang on to is that with SP at the helm, we somehow manage to get to the Prem in 5 years and by that time, we'll be back playing in Cov. The value of the club at that point could be much, much more than SISU are owed and they'll then sell up.
However, none of us have any clue about which direction the club is heading (off the pitch anyway). It's all pure conjecture.
WM
Fair question, don't disagree with you on that.
WM
Oh that's odd James didn't ACL declare an administration order and the only reason sisu put the club into administration was to get their preferred choice of administrator?
Fact - yes or no?
Yes but any new club started would be playing five league's lower than now. That rules out them buying the RicohThey have put about 30m into our club. If they mortgage the ground for 40m they have made 10m profit. Then they liquidate. Or they could liquidate our club and as the debt is owed to SISUE/Otium/ARVO or whatever they call themselves this week they would get the freehold and we are left without a football club and they keep the arena. Any new club started would need a stadium so then.........
Yes ACL did apply for an administration order against Ltd. relating to £1.3m unpaid rent, they didn't actually put us into Admin. Sisu put us into Admin on "Black Thursday" beating the High Court case scheduled for the next day. At any point before the case was due in court Sisu could have paid and we might not be playing in Northampton. I can't comment on who wanted what administrator as I wasn't involved - nor were any of us were we?
Skyblueweeman, stop sticking up for those bastards. They don't deserve it.
These quick sums have been done to death...we all know that but unfortunately, our owners need to see some return on their investment (and despite what some will say, they have invested...wages etc, bills for the large part) so they're not going to get any return on Sixfields. Ownership of the Ricoh, or another stadium they can sell on as part of a whole CCFC package, is the only way we're going to get rid of SISU.
WM
You've just spent the best part of 30 mins disagreeing with me!
As for your question Astute, I don't know the answer to that. A vision/hope I hang on to is that with SP at the helm, we somehow manage to get to the Prem in 5 years and by that time, we'll be back playing in Cov. The value of the club at that point could be much, much more than SISU are owed and they'll then sell up.
However, none of us have any clue about which direction the club is heading (off the pitch anyway). It's all pure conjecture.
WM
They are clear thinker only interested in the end package and the Profit. the arena and club separate are certainly wort much less that the whole thing p[ackaged together. The only this that SISU are waiting for is the right price
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