oldskyblue58
CCFC Finance Director
I agree entirely on what I'd offer for the club were I in a position to do so. I'd only be willing to take on the third party creditors and debt. The point is would SISU accept that? We've seen from previous offers no they won't and increasingly the amount they are owed is down to interest on the money they put in originally rather than actual capital.
Happens all the time with owners selling up and saying how philanthropic they are by waiving x amount of what they're owed when in fact most of it is actually interest on the money they've put in and they're still getting back more than their investment + inflation.
Of course the only reason they can do this is because the funding is related to the owners - were it not the club isn't a going concern, or even solvent. And therein lies the danger that at any point they could, if they so chose, call it in and put us out of business immediately. It's highly unlikely to happen as it wouldn't be in their best interests but the risk is there.
Apologies to everyone else for hijacking the thread.
You have to think like a hedge fund owner not a football club owner
They havent accepted offers so far because of the court action which if successful could be a large settlement. The interest is just a paper figure. There will be no philanthropy about it. No one will buy into the debt they have created so the interest due is irrelevant to any deal a new owner might do and SISU know that
In any other sector the company is insolvent. We dont know what the best interests of SISU are. It might be the tax advantages of losing the capital, the interest and the shares out weigh any deal they can get. Around 17m outstanding to ARVO now plus £65m of preference shares that is a lot of tax breaks just coming out of Otium let alone other losses they have or could manufacture