Can't Seppela be arsed ? (1 Viewer)

[sky blue john]

Sorry not holding much hope out on these talks if the only person on the Sisu side that can make a decision can't be arsed to show up !!!
Yes the council have to take some responsibility for this debacle but at the end of the day Sisu are the clubs owners and are responsible for their own actions !!!!
And show time and time again they don't give a toss about the fans !!!!!!!

 

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[theferret]

Sorry not holding much hope out on these talks if the only person on the Sisu side can't be arsed to show up !!!
Yes the council have to take some responsibility for this debacle but at the end of the day Sisu are the clubs owners and are responsible for their own actions !!!!
And show time and time again they don't give a toss about the fans !!!!!!!

Perhaps ACL don't want her there - it appears TF has been shut out.

She needs to show her face and front the fans - yes - but not sure it is necessary for her to be at this meeting when she reportedly has 3 people there representing her.

 

[italiahorse]

She has told the SISU negotiator that if they offer the stadium for nothing that he can accept it.
Anything else just shake on it and then I will reject it in the safety of the SISU office.

 

[sky blue john]

Perhaps ACL don't want her there - it appears TF has been shut out.

She needs to show her face and front the fans - yes - but not sure it is necessary for her to be at this meeting when she reportedly has 3 people there representing her.

Yes but they are not able to negotiate or make a decision !!!!!!
So what's the point ?

 

[LastGarrison]

Sorry not holding much hope out on these talks if the only person on the Sisu side that can make a decision can't be arsed to show up !!!
Yes the council have to take some responsibility for this debacle but at the end of the day Sisu are the clubs owners and are responsible for their own actions !!!!
And show time and time again they don't give a toss about the fans !!!!!!!

My understanding is that she is not allowed out in day light. And also has an adversion to garlic.

The blood sucking bitch.

 

[SonOfSnoz]

Joy's domain is to make a killing out of other's misery!
Bit like a lawyer!
CCFC is just another dustbin to clear debts & make more wonga for JS & co!

 

[theferret]

Yes but they are not able to negotiate or make a decision !!!!!!
So what's the point ?

How do we know that? There will be lines in the sand, but I am willing to bet they will have some freedom to negotiate (within certain parameters), otherwise the whole thing is pointless and there will be no CVA (and she clearly wants that). Perhaps I'm too much of an optimist, but I'd be very surprised if they don't do a deal of some sort.

 

[fernandopartridge]

She doesn't need to be present. It's fairly standard practice to send a briefed negotiating team (if negotiation is on the table). I don't really understand the obsession with her.

 

[skybluesam66]

in reality ccfc is a very very small part of the sisu business

therefore she has to let the managers manage in some instances
we may think 30m (or what ever they claim to have invested ) is a lot of money

to a multi billion investment fund , it is very small

writing off the ccfc monies will have been made up several times over with other investments

the value of your investment can go up or down
they will have many more ups than downs

 

[covcity4life]

She doesn't need to be present. It's fairly standard practice to send a briefed negotiating team (if negotiation is on the table). I don't really understand the obsession with her.

just irate fans want someone to blame, no understanding of business

 

[RPHunt]

in reality ccfc is a very very small part of the sisu business

therefore she has to let the managers manage in some instances
we may think 30m (or what ever they claim to have invested ) is a lot of money

to a multi billion investment fund , it is very small

writing off the ccfc monies will have been made up several times over with other investments

the value of your investment can go up or down
they will have many more ups than downs

What on earth makes you believe SISU are a "multi billion investment fund"?

They are a rather small, back street, bunch of unscrupulous opportunists and, according to their accounts, are more acquainted with downs than ups over the last few years.

 

[skybluesam66]

What on earth makes you believe SISU are a "multi billion investment fund"?

They are a rather small, back street, bunch of unscrupulous opportunists and, according to their accounts, are more acquainted with downs than ups over the last few years.

it is not their accounts but the funds that they manage
it is not their money but their investors money

 

[skybluebeduff]

"Let's dance to Joy Seppella, and celebrate the irony, because when everything's going wrong, she remains HAPPY"

 

[McLovin87]

it is not their accounts but the funds that they manage
it is not their money but their investors money

Cutting through all the crap, they manage hedges!

 

[Buster]

She doesn't need to be present. It's fairly standard practice to send a briefed negotiating team (if negotiation is on the table). I don't really understand the obsession with her.

So tou think the her briefed negotiating team will be able to do a deal there and then, or will they have to report back to her. We are not obsessed we just think that she should come out of the shadows

 

[oldskyblue58]

I think the reason why JS should be there is because any deal to be done depends on her say so. Yes there are others negotiating but does anyone really think Labovitch/Brookfield/Waggot have the absolute authority to agree a deal ?

Given past reported experiences I would have thought signed heads of terms at the meeting was an absolute minimum to confirm the terms of any agreement reached if indeed an agreement can be reached

 

[theferret]

So tou think the her briefed negotiating team will be able to do a deal there and then, or will they have to report back to her. We are not obsessed we just think that she should come out of the shadows

Considering how tight we are for time, you would hope that they have the freedom to hammer out some sort of deal on the day. Remains to be seen I guess.

 

[Samo]

just irate fans want someone to blame, no understanding of business

Perhaps you'd like to patronise us all some more?

 

[dongonzalos]

You would expect ACL to demand JS to be there. So what is agreed is actually agreed and finalised.



Also signing the CVA should be as a result of what is agreed with JS.



Not a portal to obtain a negotiation.



Show some metal FL and say to prove that all avenues have been considered.



These negotiations have to happen or a ground share will not be agreed.



Also be present at the negotiations.

 

[skybluebeduff]

just irate fans want someone to blame, no understanding of business

And for that reason.......I'm out!!

 

[covcity4life]

Perhaps you'd like to patronise us all some more?

 

[mrbluesky87]

just irate fans want someone to blame, no understanding of business

Come on then Mr Branson, inform us.

 

[covcity4life]

Come on then Mr Branson, inform us.

 

[GaryPendrysEyes]

it is not their accounts but the funds that they manage
it is not their money but their investors money

Show me any evidence they 'manage multi billion funds'... ta

 

[RPHunt]

it is not their accounts but the funds that they manage
it is not their money but their investors money

It is indeed and if those funds were "multi billion" SISU would have an income considerably in excess of the £2m their accounts show.

So, big company? Their income in the last few years has been less than CCFC have received for season tickets.

 

[duffer]

The fact that SISU have to recycle the same tired faces through all of their businesses, and the size of their premises rather puts the lie to that multi-billion claim, as indeed do their published accounts.

Regardless, it's clearly Joy that has the final say. I doubt the guys at this meeting will be able to come to an agreement without her permission. Expect further delays, imho.

 

[deanocity3]

http://www.thesundaytimes.co.uk/sto/business/article155571.ece
2005 The Times comment 'She's got balls of steel'

 

[RPHunt]

http://www.thesundaytimes.co.uk/sto/business/article155571.ece
2005 The Times comment 'She's got balls of steel'

That was from 8 years ago - the hedge fund is now likely to be worth a fraction of what it was worth then.

Hedge funds specialising in debt and distressed companies are long out of favour with investors. They might get lucky once, but their performance over time is generally abysmal - and that is the better ones. Given SISU's inept management of CCFC, it would take a great leap of faith to believe they can make a success of any of their other investments.

 

[GaryPendrysEyes]

Indeed that was before the crash... in 2008 Sisu made 17m profit, hardly Coca Cola is it?

and lets remember the court case Ms Seppala was censured by a High Court judge in 2006:
Ms Seppala was the least satisfactory of all the witnesses. In making my general comments above, I said that no-one was deliberately lying. But I fear Ms Seppala has a distorted recollection of some events – particularly about what happened at the meetings in New York in January 2005 – and, with the benefit of hindsight, has introduced a "spin" (I am sorry not to be able to find a better word) which suits the Applicants' case. She is also prone to exaggerate


But has anyone data on Sisu's recent financial performance? [I know they dont do accounts well...]

 

[duffer]

I have a theory, for what it's worth, that like a lot of other hedge funds SISU got battered in the credit downturn and it was after that point (2008-09) that investment in CCFC basically turned to life-support. I think that's what we've been running on ever since.

If I'm right, then it isn't so much that SISU won't invest money, it's that they can't. Like I say, just a theory.

 

[RPHunt]

I have a theory, for what it's worth, that like a lot of other hedge funds SISU got battered in the credit downturn and it was after that point (2008-09) that investment in CCFC basically turned to life-support. I think that's what we've been running on ever since.

If I'm right, then it isn't so much that SISU won't invest money, it's that they can't. Like I say, just a theory.

Exactly. I'm sure my first post on here was about SISU's lack of substance and I have mentioned it several times since.

SISU got lucky in 2006 when they part financed a management buyout of a company that was subsequently sold to Hunstman. With the proceeds, Seppala bought herself a new house and then went shopping for a football club.

Fortunately for them, there were enough sane voices at both Derby County and Southampton to realise that SISU did not have the finances to take their club forward and rejected the offers. As you say, SISU's finances have only got worse since then and if you look at them, it is difficult to believe that anyone can believe they are capable of funding any Football League club.