robbiekeane
Well-Known Member
wow. smart move...
An interview with Ray Ranson! (1 Viewer)
- Thread starter Nick
- Start date
oldskyblue58
CCFC Finance Director
The club never sold any option.
In 2003 the club, not for the only time, was on the brink of going bust. CCFC sold their interest in ACL to AEHC. The sum received paid off certain liabilities. The amount received was, all but £300k equivalent to the gross spend on the Arena project less the outstanding finance relating to that gross spend.
The club retained the option that gave them ability to buy back that 50% based on a set formula (so long as the club didn't owe ACL anything outside of normal agreed terms).
- the option was never exercised
- it was "sold" to SBS&L for £1m - but should never have been moved away from CCFC Ltd without the AEHC permission which was never given
- to dot i's and cross t's it was the basis that CCFC were asked in 2014 to bid for the Charity shares (but the option formula was not activated)
robbiekeane
Well-Known Member
Oh, so we didn't sell it we just didn't ever exercise it?
oldskyblue58
CCFC Finance Director
that's correct ....... but they did sell the shares to which the option related
oldskyblue58
CCFC Finance Director
as regards Mr Ranson's interview, all I can say is its worked out well hasn't it .............. 
Grendel
Well-Known Member
as regards Mr Ranson's interview, all I can say is its worked out well hasn't it ..............
I'm sure it has....for Mr Ranson