Can't wait 6-12 months for insolvency Tim, sort it out now please!! (1 Viewer)

[Sky Blue Pete]

Where are we?
What do we think the turnover is this year? In the region of £3m???
What do we think the wages are this year? In the region of £4m???

Tim Fisher wants the figures from ACL for food etc - Would love Geoff Foster to ask him those two questions and then follow up with a - what does the amount of rent have to do with FFP if we are so far out from the 65%??

Does anyone know these figures?

Then in the same room I would want a representative of ACL & council to ask them why the council lent them the money and how close were Yorkshire bank to putting pressure on?
Then I want to ask ACL what is the strategy to get their money? How does it help forcing SISU into massive short term cashflow problems?
Is success being judged on whether SISU are forced to sell CCFC to another party?

The problem is that these questions will not be answered. We need a mediator that all stakeholders trust and will abide by and we need them yesterday.

There appears no solution when both sides are being intransigent

The losers - Us fans who have no voice, no power and no clue as to the future of our 100+ year old club.

What can WE do? Get our arses up to as many games as we can and encourage as many others as we can to do the same - It is all we can do and all we can ever have done - Anything else is pissing in the wind.

SISU appear to be lying through their teeth at every opportunity but fundamentally I support their desire to enable CCFC to be as competitive as possible
ACL appear to want to have a profitable company, are owed money and require this back to maintain a viable business. They also know that a successful football club will enable this to be a win-win situation
Council - Are protecting the investment that they made on behalf of the City. Out of all the parties I don't understand their role. I would not be allowing SISU access to a large amount of investment potential but they certainly need to help them run CCFC to make it a success (If that is indeed SISU's aim)
Alan Higgs Trust - Helped out CCFC in their hour of need and deserve none of this nonsense. They should be given their money back so they can further their charitable aims for the youngsters of this City.

 

---

[skybluesam66]

turnover guesstimate

23 x 10000 x £12 = £2.7m
tv etc + parachute payment 0.3m
Arsenal + spurs = 0.5m
other cup games = 0.2m
advertising and sponsors = 1.0m
corporate and hospitality = 0.5m
retail = 0.3m
transfer + manager fees =1.0m

total 6.5m
wages probably 4.5m - this was quoted at the start of the season
need to be 3.9m (or we get to play off final, which increases turnover sufficiently from semi and final)

 

[wingy]

I think they want all Streams for all events counted SBP ,as matchday is portrayed as quite negligable.

SBS66 ,the losses for the season were projected to be £3m. ish ,we're led to believe Tranfers out achieved circa £1.5-£2M.

 

[GaryJones]

6-12 months to insolvency?............................. More like 6-12 days according to Tim Fishers interview this morning!
YOUR RIGHT THIS NEEDS SORTING NOW (AND I MEAN IN THE NEXT 2 WEEKS)

 

[ryb1983ccfc]

<p>

Where are we?</p>
<p>What do we think the turnover is this year? In the region of £3m???</p>
<p>What do we think the wages are this year? In the region of £4m???</p>
<p>&nbsp;</p>
<p>Tim Fisher wants the figures from ACL for food etc - Would love Geoff Foster to ask him those two questions and then follow up with a - what does the amount of rent have to do with FFP if we are so far out from the 65%??</p>
<p>&nbsp;</p>
<p>Does anyone know these figures?</p>
<p>&nbsp;</p>
<p>Then in the same room I would want a representative of ACL &amp; council to ask them why the council lent them the money and how close were Yorkshire bank to putting pressure on?</p>
<p>Then I want to ask ACL what is the strategy to get their money? How does it help forcing SISU into massive short term cashflow problems?</p>
<p>Is success being judged on whether SISU are forced to sell CCFC to another party?</p>
<p>&nbsp;</p>
<p>The problem is that these questions will not be answered. We need a mediator that all stakeholders trust and will abide by and we need them yesterday.</p>
<p>&nbsp;</p>
<p>There appears no solution when both sides are being intransigent</p>
<p>&nbsp;</p>
<p>The losers - Us fans who have no voice, no power and no clue as to the future of our 100+ year old club.</p>
<p>&nbsp;</p>
<p>What can WE do? Get our arses up to as many games as we can and encourage as many others as we can to do the same - It is all we can do and all we can ever have done - Anything else is pissing in the wind.</p>
<p>&nbsp;</p>
<p>SISU appear to be lying through their teeth at every opportunity but fundamentally I support their desire to enable CCFC to be as competitive as possible</p>
<p>ACL appear to want to have a profitable company, are owed money and require this back to maintain a viable business. They also know that a successful football club will enable this to be a win-win situation</p>
<p>Council - Are protecting the investment that they made on behalf of the City. Out of all the parties I don't understand their role. I would not be allowing SISU access to a large amount of investment potential but they certainly need to help them run CCFC to make it a success (If that is indeed SISU's aim)</p>
<p>Alan Higgs Trust - Helped out CCFC in their hour of need and deserve none of this nonsense. They should be given their money back so they can further their charitable aims for the youngsters of this City.

</p>
<p>&nbsp;</p>
very very well put!

 

[Flying Fokker]

Where are we?
What do we think the turnover is this year? In the region of £3m???
What do we think the wages are this year? In the region of £4m???

Tim Fisher wants the figures from ACL for food etc - Would love Geoff Foster to ask him those two questions and then follow up with a - what does the amount of rent have to do with FFP if we are so far out from the 65%??

Does anyone know these figures?

Then in the same room I would want a representative of ACL & council to ask them why the council lent them the money and how close were Yorkshire bank to putting pressure on?
Then I want to ask ACL what is the strategy to get their money? How does it help forcing SISU into massive short term cashflow problems?
Is success being judged on whether SISU are forced to sell CCFC to another party?

The problem is that these questions will not be answered. We need a mediator that all stakeholders trust and will abide by and we need them yesterday.

There appears no solution when both sides are being intransigent

The losers - Us fans who have no voice, no power and no clue as to the future of our 100+ year old club.

What can WE do? Get our arses up to as many games as we can and encourage as many others as we can to do the same - It is all we can do and all we can ever have done - Anything else is pissing in the wind.

SISU appear to be lying through their teeth at every opportunity but fundamentally I support their desire to enable CCFC to be as competitive as possible
ACL appear to want to have a profitable company, are owed money and require this back to maintain a viable business. They also know that a successful football club will enable this to be a win-win situation
Council - Are protecting the investment that they made on behalf of the City. Out of all the parties I don't understand their role. I would not be allowing SISU access to a large amount of investment potential but they certainly need to help them run CCFC to make it a success (If that is indeed SISU's aim)
Alan Higgs Trust - Helped out CCFC in their hour of need and deserve none of this nonsense. They should be given their money back so they can further their charitable aims for the youngsters of this City.

I don't think there is any chance of mediation happening. The people on ACL board have more resolve than SISU. They don't spurt the drivel that Mr Fisher does. ACL statements are measured with the occasional voice of John Mutton putting his opinion in (Which is often one that voices the opinion of any reasobable supporter). ACL have some tough cookies on their board as well. They can keep a poker face for a long time. Right is on their side and the loan from the Council speaks volumes about what they think of SISU.

I think SISU will take us down the insolvency route. (I hope I am wrong of course) I would have paid ACL before there was a red bill hit the doorstep rather than built up more Coventry City debt. Yet, they refuse to let go of the batton. If we were such a burden they would have done this far earlier than they have?

A company run by bafoons.

 

[rupert_bear]

But where has the money gone ? We are repeatedly told sisu have put in 45million, apparently we owe 45million, add to that the gate receipts since 2007, transfer income since 2007 and TV money income since 2007 plus other bits and pieces, i would hazzard a guess of around 40millionish equals a total income of about 80 odd million, so where has the money gone ? Ask that at the Sky Blue Trust meeting with Fisher and co next week.

 

[Flying Fokker]

They just spin the same yarn all the time. Nothing changes. They take their money, are contidioned to say that they are not making any profit and swear down that they are telling the truth.

They will be masters of their own downfall. They have taken money out of the club and this 40 odd million would really be significantly less if they had not taken so much for themselves. That is what SISU does nowadays.

 

[rupert_bear]

Why don't those in a position to ask that question on air, Foster, Eakin, Shane O'Connor ask it. I am certain Fisher would hang up.

 

[theferret]

But where has the money gone ? We are repeatedly told sisu have put in 45million, apparently we owe 45million, add to that the gate receipts since 2007, transfer income since 2007 and TV money income since 2007 plus other bits and pieces, i would hazzard a guess of around 40millionish equals a total income of about 80 odd million, so where has the money gone ? Ask that at the Sky Blue Trust meeting with Fisher and co next week.

What do you mean where has the money gone? To pay for the running of the club and to subsidise losses. I really do not understand how some people struggle to accept that the club loses money and that SISU have to fund the difference. We're hardly the only football club where expenditure exceeds income. This has been the case since they took over, and while this year those losses are set to be much lower than in previous years, we are still far from a break even figure.

It's all there in black and white if you want it, just write to Companies House for the detailed accounts of all the CCFC companies and you'll see where it has all gone.

This club turns over about 6 million. That is turnover - so out of that you have to take all expenses - wages, both players and backroom staff, marketing and advertising costs, the costs of producing and printing programs, hotel and travel expenses, office supplies, training equipment, the academy, matchday costs to ACL, the purchase of all replica shirts and other items you find in the club shop, postage (how much do you think the club pay every year in postage alone send out all of those tickets?), utility bills at ryton, community projects, accountancy fees, banking charges, interest charges, agents fees and out of that turnover figure we will have to pay the FA/Football League and opposition clubs their slice of revenue from cup ties.

This all costs money, and at the end of it all, once it has sold tickets, programmes, replica shirts etc it still only has a total turnover of £6-7 million, which is substantially less than the cost of all the above.

Some people have no clue what's involved in running a business of that size with that many employees.

 

[Grendel]

But where has the money gone ? We are repeatedly told sisu have put in 45million, apparently we owe 45million, add to that the gate receipts since 2007, transfer income since 2007 and TV money income since 2007 plus other bits and pieces, i would hazzard a guess of around 40millionish equals a total income of about 80 odd million, so where has the money gone ? Ask that at the Sky Blue Trust meeting with Fisher and co next week.

You keep asking this. We weren't debt free to start. They paid in access of £10 million in outstanding debts and inherited a business model that was losing £6 million a u
Year. Why is it hard to understand.

 

[wingy]

You keep asking this. We weren't debt free to start. They paid in access of £10 million in outstanding debts and inherited a business model that was losing £6 million a u
Year. Why is it hard to understand.

Yep extremely poor management decisions from day one.

 

[Grendel]

Yep extremely poor management decisions from day one.

It was an extremely poor decision to buy it and then even poorer not to have an effective plan to cut costs.

 

[Mary_Mungo_Midge]

It was an extremely poor decision to buy it and then even poorer not to have an effective plan to cut costs.

In fairness it was the only thing Orange Keen did try and do. Way too savagely though

 

[coundonskyblue]

It was an extremely poor decision to buy it and then even poorer not to have an effective plan to cut costs.

First thing you've said I agree with!

 

[Warwickhunt]

I don't think there is any chance of mediation happening. The people on ACL board have more resolve than SISU. They don't spurt the drivel that Mr Fisher does. ACL statements are measured with the occasional voice of John Mutton putting his opinion in (Which is often one that voices the opinion of any reasobable supporter). ACL have some tough cookies on their board as well. They can keep a poker face for a long time. Right is on their side and the loan from the Council speaks volumes about what they think of SISU.

I think SISU will take us down the insolvency route. (I hope I am wrong of course) I would have paid ACL before there was a red bill hit the doorstep rather than built up more Coventry City debt. Yet, they refuse to let go of the batton. If we were such a burden they would have done this far earlier than they have?

A company run by bafoons.

SISU are intent on taking ACL down along withCCFC if they have to walk away

 

[Jack Griffin]

You keep asking this. We weren't debt free to start. They paid in access of £10 million in outstanding debts and inherited a business model that was losing £6 million a u Year. Why is it hard to understand.

If you take out the £10M and distribute the remaining £35M of the £45M SISU say they've spent over the years they've been here then they've not made any progress on reducing that loss despite Fisher's claims they've got costs under control. As their wage bill is definitely lower now than it was a few years ago then it looks like they actually lost more than £6M pa for some years before deciding to cut costs a decision that resulted in demotion.

SISU don't seem terribly compedent at running a football club. :facepalm:

 

[Sky Blue Pete]

My work is done here. Grendel and mmm agreed on something!!! I am certain that sisu are no worse or better than running our club than many before them. Surely sisu though can see that they won't destroy acl without destroying ccfc and, I am not certain of this, if they think this is ok and not just a piece of business brinkmanship then that is very worrying!!