At least its a statement, an acknowledgement that something happened - and we also know that nothing was agreed.
But the board said they were talking to ACL every week anyway and having constant meetings.
I wonder if the council and higgs werent involved in the statement that would there be a statement at all. certainly cancels out that gmk rumour about free rent for 2 years :blue:
Ha! it was a transparent meeting but we can't really tell you what was discussed because it was mostly confidential. : )
Sorry Cloughie but I believe you are wrong, I'm no accountant (OSB where are you?) - but for the accounts to be signed off SISU have to guarantee to the auditors that they will cover any potential losses which as a loss making business there will inevitably be. At this stage they are unwilling to make that undertaking and that is why they are pushing for the rent reduction etc as this will decide the amount the losses are likely to be and how much exposure they are likely to have. Without there agreement to cover losses accounts cannot be legally signed off.
Well, of course the meeting would be confidential. Why is that such a surprise?
It's not a surprise, (commercial sensitivity etc) but neither is it 'transparent'.
Well, no news is good news, maybe? ....... If they are talking, it means we won't be evicted in the near future....?!
My fear is that it will take (ACL & the Council) a long time to develop any trust in SISU, so I wouldn't expect a rush of activity to move things forward. This all delays the budget and accounts submissions, and hence the lifting of the transfer embargo.
How can any club (manager) plan his team for next season, under this uncertainty? To have any chance of making a fist of next season, we need things in place now, a good start is imperative, IMO.
Jan, in OSB's absence I'll do my best.
The club/company obviously owes a great deal of money to SISU (i.e. the famous loans). For the auditors to sign off the accounts on a "going concern basis", they will have to have assurances from SISU that these loans will not be called in within (if I remember correctly - I haven't audited for many years...) 12 months of the date that they sign off the accounts.
SISU won't be able to give these assurances until/unless a plan/budget is in place for the coming year.
sisu meeting with council
sisu...weve come to ask for free rent...or a reduced rent..
council..nah!!....you already owe us 2 mnths rent..no chance..
sisu..oh please we are skint...
council...fuck off you :jerkit:
end of meeting....
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