What's he mean - "If my figures are correct"?
OK, it would therefore appear that #CCFC had interest payable instead of paid of £1.8 million in 2016/17. If my figures are correct,
Wasnt really that quick, it took a good few hours.
Strangely I asked him straight away if that's right and he ignored me but then repeated it.
Can see why they need to, people will be thinking 76p of every £1 the fans spend goes to SISU. Dangerous.
Because you said 'some' might be Anderson, I think he was there for around 4 months of that year, and you intimated that Deering wouldn't have much if any. Wouldn't you agree the Directors have been a failure, are they worth £175k, especially if Fisher was part time?
TBF claimed against would have been a better choice of words rather than paid out.You can when he uses the words "paid out" and "payments".
Or just accrued / added to debt maybeTBF claimed against would have been a better choice of words rather than paid out.
There is a chance this years ends figures (2018) will improve compared to last years (2017) results as revealed today.
2018 -
1) Will Probably show an increase in Matchday revenue as our average gate will probably exceed last years from league 1 prices having remained unchanged.
(if we get into play offs) banking on some big gates. Slight positive that no one really expected.
Gates of 4/5/6 k havnt really materialised (albeit our average will have been inflated somewhat by Accrington att.)
2) As some have pointed out there have been player sales: Stevenson, Thomas, Harries, and the youth kid who went to man utd for a little fee will show in 2018.
3) Our profits from this year from FA cup wont be far short/or similar to what we earned from Winning Checkatrade! possible exclusion will be TV money. We earned proabably more in prize money from FA cup than we did from Checkatrade.
4)Possibly trigger payments for Maddison goals/Appearances/England U21/, Wilson possible England Call up. before May 31st.
The other thing is there arnt many clubs who make a profit as such in the EFL, the clubs cut their cloth accordingly but are still in debt, thus are financed.
Debt is an essential part of any Business or arganisation or even Governement for that matter. (all about your credit ratings) and how you finance your debt. Sisu being a hedge fund will be ok in this front.
Unless you are apple that has no debt and is totally Cash Rich they are the exception.
Going forward nothing other than the normal concerns stand out/stadium/matchday revenue/Academy location.
You can be certain that the accrued debt is what keeps Sisu hear.It is still a debt though isn't it, do you think a fairy godmother is going to pay it off?
You can be certain that the accrued debt is what keeps Sisu hear.
Every day it gets bigger and effectively locks Sisu more into the club.
I'm no accountant but wouldn't debt in the club show a a positive on the balance sheet if it's assumed it will be paid at some point, even if it never will.
Rolling that on, if they did leave or liquidate the club then that positive is lost.
It’s litigation that’s keeping them here, nothing else. Once all avenues have been exhausted they’ll be out of here like a scalded cat.You can be certain that the accrued debt is what keeps Sisu hear.
Every day it gets bigger and effectively locks Sisu more into the club.
I'm no accountant but wouldn't debt in the club show a a positive on the balance sheet if it's assumed it will be paid at some point, even if it never will.
Rolling that on, if they did leave or liquidate the club then that positive is lost.
No, I think it's misleading and factually incorrect and as a Football Finance expert he would surely know that?
Can you phone up about my mortgage people to tell them there's no difference between paid or not?
On his Linkedin :
Executive Vice Chairman and Managing Director
Coventry City Football Club
2015 – 2016 (1 year)
All fair points if they happen or match our expectations of value.
However if the FA cup matches the checkatrade that doesn't actually improve 2018 over 2017.
The player add ons are maybe events. If Madison is sold that could be significant but is likely to be after 31 May 2018. I will be interested to see if the player sale figures materialize at the amounts guessed at here, I suspect they won't.
However to break even and to not increase the level of debt the results for 2018 need to improve by a net amount of 2.7m. That's still a big ask
It’s litigation that’s keeping them here, nothing else. Once all avenues have been exhausted they’ll be out of here like a scalded cat.
You would have to do an assessment of the debt owed and an impairment review to show the amount at fair value. That value would be the recoverable amount......
Don’t think SISU can afford to hold a grudge anymore if someone is willing to give them a few quid for the club once they’ve ran out of ideas for litigation.Fingers crossed.
"Hell have no wrath like a woman scorned" though ?
It’s litigation that’s keeping them here, nothing else. Once all avenues have been exhausted they’ll be out of here like a scalded cat.
Lets hope CCC do the same!
What was the interest paid out against? I thought it wasn’t real debt.
Once all avenues have been exhausted they’ll be out of here like a scalded cat.
CCC are already out the club. They've handed it over to Wasps.Lets hope CCC do the same!
Once all avenues have been exhausted they’ll be out of here like a scalded cat.
Lets see what comes out of the "mediation" and if that fails CCC have to disclose a number of documents, it currently has kept to its self, to the Courts.
I think what is worrying is that CET set the highlights on the situation improving (slightly) however this clearly isn't the case as liabilities are increasing by some significant margins
I didn't suggest that you had intimated that Deering had any, I would be surprised if she was paid anything, surely you're not suggesting she should be paid, what does she do?I did not intimate Deering had any - I said I think she represents SISU mainly. If the latter is correct then that might be why there is a reference to a "third party"
Ahhh! The old smoking gun theory again. What documents are these then? Another Rizzla paper with a cryptic clue again? Maybe a king size Rizzla this time.Once all avenues have been exhausted they’ll be out of here like a scalded cat.
Lets see what comes out of the "mediation" and if that fails CCC have to disclose a number of documents, it currently has kept to its self, to the Courts.
SISU's current tactics appear to be to try to have a successful season in the hope that they will get a buyer to pay something like the figure they have been demandingDon’t understand all this accountancy milarky so tend to keep away from these threads, thank god for Oldskyblue58 to put some meat on the bones. But one thing he said was Otium look like showing signs of financial distress and they might struggle to continue as a going concern so what if sisu put Otium into administration could that put us ( the club) with a 10 point deduction maybe more not a very healthy position to be in if you’re in division 4.
Or just accrued / added to debt maybe
So is NOPM working? :emoji_thinking:As usual the CT fail to understand some of the things in the accounts I am afraid.
Have the finances improved when it actually made a bigger loss £2.7m and increased the level of debt whilst operating a cash flow deficit?
The sbs&l accounts don't show a operating profit for sbs&l but for the sbs&l group within which the only trading part is otium
The wages details given by the CT are incorrect as they are on the Ccfc website. See my post above
Auditors refer to the note about going concern made by the directors and draw attention to it and agree with it.
Etc etc ..
I do wish they would question things more even just sometimes. Bigger total losses and increased interest bearing debt (whether or not paid out) is not in my book a sign of improving finances. One off cup success should not hide the real trends. Ccfc remain in financial trouble with only limited help from its owners and then only if they really have to.
So is NOPM working? :emoji_thinking:
He doesn't give a shit. He isn't a City fan.It’s helping to fuck the club yes.
I said this in the first few months after they came in...that they would deconstruct then reconstruct to make the club run soundly in finance terms. Struth - I had no idea they would go as far as they have to achieve it..!No time to look at present but first skim shows..
£2m less on sale of players but operating loss down ~£600K.
Financially going well, the players not sold are retained as assets and probably improved in value.
Just need Norwich to sell Maddison for a huge fee in the summer and next season there will probably be a small profit.
Even though SISU are c**ts they know how to fix the finances.. but their methods involve pain.
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