And we think we've got problems.... (1 Viewer)
- Thread starter Speedies_Chips
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sportbilly
New Member
Here's also an issue that sounds a little familiar
http://www.bbc.co.uk/news/uk-wales-south-west-wales-25559959
http://www.bbc.co.uk/news/uk-wales-south-west-wales-25559959
Astute
Well-Known Member
Massive difference. The council paid for the whole build and charged a peppercorn rent. They have never made a penny.
steveo1987
Well-Known Member
ccfcway
Well-Known Member
well, isnt that what will make up profitable ?
steveo1987
Well-Known Member
Grendel
Well-Known Member
No its nothing to do with profit.
skybluetony176
Well-Known Member
Interesting article. So if sisu do win the jr they still won't be able to buy the ricoh at a knock down price as this commission would consider it state aid to a privately owned sports company.
You may as well sell up and fook off now sisu. Your opportunity has been lost through mucking around distressing the situation when you should have done a deal in the first instance as ranson said you would.
skybluetony176
Well-Known Member
As their isn't any you are 100% correct. It had to happen sooner or later.
Grendel
Well-Known Member
I fail to see how that conclusion is reached. I assume their argument will be based on their allegation they were asked to participate in the purchase of the £14 million loan and then the council went it alone. They've always maintained they will buy the loan.
skybluetony176
Well-Known Member
I'm talking about the sale of the ricoh to sisu. If they were hoping to use the jr as leverage to get a discount on the ricoh this commission will stop that possibility from happening.
Nothing to do with "bailout's"
mrtrench
Well-Known Member
The system is wrong. Every year three clubs must be relegated from the Premier League. The financial gap is so huge that it almost guarantees that the clubs will suffer heavily as a result. Financial Fair Play is a start - but it doesn't go far enough. It needs to be implemented globally and with extreme prejudice.
stupot07
Well-Known Member
Their turnover was c£28.5m and they made a c£50.5m loss. Not sure you can make too many conclusions on income revenue streams.
Even if you want to break it down - £19m broadcast revenue (inc parachute payments - normal champ clubs get £5m) then £3.8m gate receipts (18k average:444k visits inc cup games), they're still getting another £5.5m in from commercial/matchday revenue.1
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
Grendel
Well-Known Member
They've said they'd buy at an independent values price.
chiefdave
Well-Known Member
Just as well they got an expert in!
Chelsea have lost £50m which apparently isn't enough to fall foul of FFP regulations.
The Swansea situation is interesting. There are some who have been using them as an example of how unsupportive CCC have been but it looks likely they could be in trouble here as they've essentially gifted a new stadium. If SISU, or anyone else for that matter, were looking to get hold of the Ricoh at below market value then surely the same would apply?
Chelsea have lost £50m which apparently isn't enough to fall foul of FFP regulations.
The Swansea situation is interesting. There are some who have been using them as an example of how unsupportive CCC have been but it looks likely they could be in trouble here as they've essentially gifted a new stadium. If SISU, or anyone else for that matter, were looking to get hold of the Ricoh at below market value then surely the same would apply?
Astute
Well-Known Member
Just like their allegation that the boat had sailed. Just like when they said we would have seen the new stadium plans by now. Just like they said that they would only return to the Ricoh as owners. Then Timothy said recently they might return as tenents. Just like the original statement that the rent was too high. When the reduced rent offers came in it was about the pie money. Now they have had a rent free offer for the rest of the season and 100k a season for the next two seasons that they said wasn't made to them.
So do you believe them Grendull?
Rusty Trombone
Well-Known Member
I wonder if SISU have commissioned a valuer yet??
Astute
Well-Known Member
Appletons mate?
skybluetony176
Well-Known Member
They've said a lot of things. The majority of which have either not been true or never happened.
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ccfcway
Well-Known Member
finally !
bigfatronssba
Well-Known Member
Unless a contract was signed then sisu have no argument in that regard.
chiefdave
Well-Known Member
Why do SISU not make a formal bid for ACL, or even the freehold and leasehold combined, that includes repayment of the £14m loan? If they did that and it was rejected then would that not massively strengthen their case or at the very least give those that feel the blame lies with SISU something to think about. Complaining something hasn't been sold to you when you haven't tabled a bid seems a little odd to me.
SkyblueBazza
Well-Known Member
Why bid for ACL when by waiting patiently they can buy the whole thing for relatively little, simply by distressing ACL to the point they cannot wait to get rid of it?
chiefdave
Well-Known Member
Because if they purchased ACL we wouldn't have to play for years in Northampton losing a fortune. It seems they could purchase the Higgs share for around £5-6m, then there's the £14m loan plus the cost of the council share. So even if the council share cost them nothing they're looking at around £20m.
Now how much are they losing in Northampton before you even consider the additional revenue if they owned ACL. And remember even if they do manage to distress ACL it doesn't follow that they'll get the business for nothing. I would imagine that should ACL ever go under the lease returns to the council and they can put it up for sale again, who's to say SISU would be the only bidders and able to pick it up on the cheap? That's assuming the council even decided to put it up for sale, they may well decide to just put out a tender for the day to day management on a shorter term basis.
it appears SISU are taking a massive gamble on ACL going under and then a process that suits them being followed. The question is how long will they hold out waiting for that to happen and in what manner will they exit if / when it doesn't.
James Smith
Well-Known Member
How can sisu distress ACL when ACL tell us that they are flourishing without the club?
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
They can attempt to tie up one of the shareholders of ACL finacially through court action. That in turn indirectly could put pressure on ACL.
skybluetony176
Well-Known Member
How can sisu distress ACL when ACL tell us that they are flourishing without the club?
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
yep, there is more than 1 way to skin a cat. Hopefully JR is done and dusted by the end of the season (although i guess there is a lengthy appeal process whichever way it goes) and if every ones accounts are in on time i guess it will be cards on the table time, the bluffing is over.
James Smith
Well-Known Member
The council also made a loan to the SMC of over £2.5m which it subsequently wrote off.