An interview with Ray Ranson! (1 Viewer)

chiefdave said:

supposed to be to resolve short term cashflow issues.

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robbiekeane said:

why did we sell out option to buy half the ricoh?

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oldskyblue58 said:

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)

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oldskyblue58 said:

as regards Mr Ranson's interview, all I can say is its worked out well hasn't it ..............

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