skybluelee
Well-Known Member
Play in red and called United. I couldn't be less interested.
I agree with this entirely, I say move Coventry United in there, ok it's not everybody's idea of a solution and I know the gates will be pathetically small to start of with, but it gives the people of Coventry a focus, and it's a acorn and given the right nurturing will grow into a tree.
If an hopefully when CCFC do return either probably as a newco then they can share the ground, why not.
This won't be popular with some folk.
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
The timing of the statement seems very odd. Makes you wonder if the Football League has decreed the payment isn't owed after all.
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.
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.
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.
Have you ever commented on a football thread?Well you are wrong again then.
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.
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.
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.
Have SISU asked for a negotiation?
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.
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.
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?
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?
When did they have the £300k?
We have no clue, as the football league appear to have no clue.
Which is rare genius on their part really.
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?
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.
We have no clue, as the football league appear to have no clue.
Which is rare genius on their part really.
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.
Why can't they have a discussion about a return and how the 590k could be repaid?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 part if 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?
Why can't they have a discussion about a return and how the 590k could be repaid?
It'll be interesting when the FL call in the £1m bond, my guess is they won't get it.
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
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.
if they had received 300k they would not be owed 590k the 300k was not paid by SISU
It seems that there are more barriers to negotiation than just SISU.
Easy for the football league to confirm that then.
Then no issue.
Only one organisation is causing doubt... and unusually it ain't SISU!
Why can't they have a discussion about a return and how the 590k could be repaid?
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 part if 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?
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
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.
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?
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