Fisher on CWR this morning (1 Viewer)

covmartin · Nov 28, 2012

Tim Fisher was interviewed on BBC CWR this morning. Fisher has said this morning that Yorkshire bank have now stepped in and appointed Deloittes to restructure the debt of ACL.
Fisher went on to say that if Yorkshire bank call in the debts from ACL then ACL go under or the Council bail them out. Fisher says a council bail out would be unlikely. The consequence of ACL going under would be CCFC going under. All the above comments are my summary of what Fisher said rather than my thoughts!
He also was keen to blame the banks this morning for this situation and would not accept blame due to unpaid rent.
I may have missed some detail of what was said but that is my best recollection of the interview.
CWR have said they are trying to contact Yorkshire Bank and Deloittes for their comments on this situation

Tank Top · Nov 28, 2012

You've Just about covered all the bases Martin I heard it too,
And it would be no exageration to say that Tim fisher sounded a desperately worried man, he could hardly control his emotions as he described the current situation regarding
A.C.L s massive debt, he described the situation as "Grave"

Ashdown · Nov 28, 2012

So he's overly concerned by ACL's huge debt but fails to see that SISU's stance of not paying anything for their tenancy is not contributing to this inevitable slump. The combined salaries of Bell, R'OD, Elliot and Hussey { All players not in the reckoning} would no doubt come close to covering the rent. They must be fuming at how SISU have played this.

valiant15 · Nov 28, 2012

Who appointed fisher spokesman of acl then? So it looks like fisher/sisu's plan of putting acl out of buisiness is working then.

Chipfat · Nov 28, 2012

Sisu have never taken the Blame for anything , they have blamed previous regimes, sacked managers, sacked directors, relegation, Councils and the list goes on..... These are all things that Sisu made major decisions on and should be held accountable for... Time to stand up SISU and for once be honest and admit you have made a complete mess of this club.

As for claiming not paying the rent has not had an effect on ACL current situation just shows how insane this guy is... Hope the locks go on the Ricoh soon and Jo comes out to explain and face the fans instead of sending this fooking idiot out everytime shit hits the fan....

oldskyblue58 · Nov 28, 2012

I heard it also. Would be good if he actually got his facts straight.

Essentially what he was doing was trying to make the bank jittery so they put pressure on ACL. Mr Fisher has one agenda here and that is to put ACL into crisis (whether they are or not) so that SISU pick up the stadium on the cheap and have a positive exit strategy. Oh and lest we forget his income is dependent on the success of the strategy. None of this is for the benefit of CCFC, if anyone thinks it is then they are deluding themselves

I would be very surprised if CWR got a statement from either Deloittes or Yorkshire Bank .......... its called client confidentiality

cloughie · Nov 28, 2012

Fisher claims to know alot about a business (ACL) that he has no inside knowledge of. All his remarks are designed to bring panick to the situation.
As for his 'grave concerns' I will nominate him for the next round of oscars

Yorkshire bank maybe involved with ACL but fisher has no knowledge of what they are upto. Restucturing the debt may well be happening but for different reasons than dim tim offers.

Restructure could be for keeping the ACL company on a breakeven course without CCFC being part of the Arena, thats more likely what slimy tim is worried about.
If that happens he will be history as far as sisu are concerned, as that takes them even further away from buying a share in acl and an exit with some cash

Jimthor · Nov 28, 2012

Been trying to get my head round this.

Is the below correct, or am I not following it right?

The bank have appointed Deloitte to look at ACL's debts.
The bank could then decide to claim money owed by ACL.
ACL would go under, and the club would also be forced to pay owed money (rent).
The club couldn't pay this and would go under too.

Additionally- Where does the 'possible but unlikely' council "bail out" come in? Could they step in when the bank decide to claim all the ACL debts and go "hold on a sec guys, no worries, we'll pay it all"? In order to protect their investment in the stadium (and also the club)?

I miss when chatting about football involved arguing about 4-4-2 vs the diamond...

Sub · Nov 28, 2012

well we all know how good SISU are with client confidentiality dont we !!! surley they can be held to account by ACL for not paying the money they owe and surely the bank will take this into account and take SISU to court?

skyblueman · Nov 28, 2012

ACL are going to call in the rent debt.. just wait and see - this is going to be crunch time for CCFC

Ashdown · Nov 28, 2012

That slimeball Ranson and his advisors dragged SISU to Coventry for one reason and one reason only, the securing of that nice piece of real estate in CV6, it won't matter to a bunch of c@@ts in Mayfair how this is achieved or who gets ruined in the process.

covcity4life · Nov 28, 2012

wtf is going on, could ccfc be no more before the new year?

covcity4life · Nov 28, 2012

Jimthor said:
Been trying to get my head round this.

Is the below correct, or am I not following it right?

The bank have appointed Deloitte to look at ACL's debts.

The bank could then decide to claim money owed by ACL.

ACL would go under, and the club would also be forced to pay owed money (rent).

The club couldn't pay this and would go under too.

Additionally- Where does the 'possible but unlikely' council "bail out" come in? Could they step in when the bank decide to claim all the ACL debts and go "hold on a sec guys, no worries, we'll pay it all"? In order to protect their investment in the stadium (and also the club)?

I miss when chatting about football involved arguing about 4-4-2 vs the diamond...

so so true

Jimthor · Nov 28, 2012

oldskyblue58 said:
Essentially what he was doing was trying to make the bank jittery so they put pressure on ACL. Mr Fisher has one agenda here and that is to put ACL into crisis (whether they are or not) so that SISU pick up the stadium on the cheap and have a positive exit strategy. Oh and lest we forget his income is dependent on the success of the strategy. None of this is for the benefit of CCFC, if anyone thinks it is then they are deluding themselves

Well, now this is even more confusing!

Here's a different bullet-pointed list. Trying to get my head round everything mk.II!

Fisher is trying to worsen ACL's already problematic financial position by non-payment of rent.
Concurrently, his press campaign is designed to make the bank think ACL are in even more trouble, [somehow this leads to further worsening of ACL's finanaces].
Combined, ACL end up in a financial position so terrible that the Higgs Trust or council decide to sell their share on the cheap.
SISU can then flog the club for a decent sum and get out with some of their money back

Does that sound accurate or am I off?

cloughie · Nov 28, 2012

Jimthor said:
Been trying to get my head round this.

Is the below correct, or am I not following it right?

The bank have appointed Deloitte to look at ACL's debts. We don't know this as fact it is only Fisher saying this

The bank could then decide to claim money owed by ACL. They could but that doesn't mean that this is happening only slimy fisher saying this

ACL would go under, and the club would also be forced to pay owed money (rent). Could happen if the obove were true but again scaremongering from slimy fisher

The club couldn't pay this and would go under too. well if they can't pay what is already owed they obviously are running an insolvent business and would be required to call in the reciever

Additionally- Where does the 'possible but unlikely' council "bail out" come in? Could they step in when the bank decide to claim all the ACL debts and go "hold on a sec guys, no worries, we'll pay it all"? In order to protect their investment in the stadium (and also the club)?

I miss when chatting about football involved arguing about 4-4-2 vs the diamond...

A shameful scaremongering tactic from a desperate man

Jimthor · Nov 28, 2012

cloughie said:
A shameful scaremongering tactic from a desperate man

Right, I see. So I do have the right idea, but none of it's necessarily accurate, because Fisher is trying to rock the boat.

Is the 2nd set of bullet points above effectively what Fisher is trying to achieve? Feel like I'm getting somewhere with this now haha.

cloughie · Nov 28, 2012

Jimthor said:
Right, I see. So I do have the right idea, but none of it's necessarily accurate, because Fisher is trying to rock the boat.

Is the 2nd set of bullet points above effectively what Fisher is trying to achieve? Feel like I'm getting somewhere with this now haha.

Fisher doing his best to bring pressure onto ACL and not paying the rent is the only cause of a financial problem that they maybe sorting with the yorkshire bank, so they can move forward with their business plan without CCFC playing there.
They maybe putting a plan into action in readiness to kick CCFC out

All ifs and buts though

Otis · Nov 28, 2012

skyblueman said:
ACL are going to call in the rent debt.. just wait and see - this is going to be crunch time for CCFC

Well that seems the way forwards from ACL's point of view. If they have massive debt they chase the money the club owes them through the courts.

skyblueman · Nov 28, 2012

The appointment of Deloittes on behalf of the bankers of ACL is really bad news for SISU - whereas before SISU were only really playing brinkmanship with ACL's board - now they have some seriously determined organisations with a vested financial interest involved. These are really going to go after the debts and unlike maybe ACL they won't give a tuppenny-shite about what anyone thinks of them if they screw over CCFC in the process - they are real bastards and will go after CCFC like a rabid dog because after all CCFC doesn't have a leg to stand on over non-payment of the rent. You think there is any chance of any negotiation over this - think again

Pay up SISU or watch Yorkshire Bank wind up CCFC! You are not going to win this battle they have far bigger artillery than you'll ever have

Otis · Nov 28, 2012

I 'll put the cones out at the Memorial Park. I have a bath sponge too.

Any volunteers to cut up oranges?

WestEndAgro · Nov 28, 2012

Otis said:
I 'll put the cones out at the Memorial Park. I have a bath sponge too.

Any volunteers to cut up oranges?

I live near by, i will do the oranges !

Otis · Nov 28, 2012

Good lad.

We will make the tactics up as we go along dependent on who turns up with their boots.

valiant15 · Nov 28, 2012

Can we finish the season at the butts,i can go straight up craven street on the piss after the game

oldskyblue58 · Nov 28, 2012

Jimthor said:
Well, now this is even more confusing!

Here's a different bullet-pointed list. Trying to get my head round everything mk.II!

Fisher is trying to worsen ACL's already problematic financial position by non-payment of rent.

Concurrently, his press campaign is designed to make the bank think ACL are in even more trouble, [somehow this leads to further worsening of ACL's finanaces].

Combined, ACL end up in a financial position so terrible that the Higgs Trust or council decide to sell their share on the cheap.

SISU can then flog the club for a decent sum and get out with some of their money back

Does that sound accurate or am I off?

Sounds about right to me Jimthor - point 3 could read sell or put into or be put into administration

oldskyblue58 · Nov 28, 2012

skyblueman said:
The appointment of Deloittes on behalf of the bankers of ACL is really bad news for SISU - whereas before SISU were only really playing brinkmanship with ACL's board - now they have some seriously determined organisations with a vested financial interest involved. These are really going to go after the debts and unlike maybe ACL they won't give a tuppenny-shite about what anyone thinks of them if they screw over CCFC in the process - they are real bastards and will go after CCFC like a rabid dog because after all CCFC doesn't have a leg to stand on over non-payment of the rent. You think there is any chance of any negotiation over this - think again

Pay up SISU or watch Yorkshire Bank wind up CCFC! You are not going to win this battle they have far bigger artillery than you'll ever have

we are all assuming that it is a crisis appointment by the bank ........... what if it was an appointment made by the bank after ACL made proposals to change things to safeguard its position ? The bank would send Deloittes in to prove the figures and projections but it wouldnt be an appointment to deal with a company failure :thinking about:

lordsummerisle · Nov 28, 2012

Otis said:
Good lad.

We will make the tactics up as we go along dependent on who turns up with their boots.

You are Andy Thorn and i claim my five pounds.

Sub · Nov 28, 2012

merry christmas to all the ccfc fans from SISU and the board of directors :jerkit::jerkit::jerkit::jerkit::jerkit:

psgm1 · Nov 28, 2012

Fisher may well know precisely the details about ACL. After all the former chairman KD's company spies on companies financial status. So SISU know EXACTLY how and where to hurt ACL. ACL have the ability to petition courts to bankrupt SISU/ARVO for non payment of debt.

After the way they have behaved they should do precisely that. SISU are basically blackmailing a charity. There comes a time when peoples livelihood take precedence over whether or not a football teaqm can be allowed to play in a particular league!

Total boycott until SISU go is absolutely the right thing to do now.

lordsummerisle · Nov 28, 2012

psgm1 said:
Fisher may well know precisely the details about ACL. After all the former chairman KD's company spies on companies financial status. So SISU know EXACTLY how and where to hurt ACL. ACL have the ability to petition courts to bankrupt SISU/ARVO for non payment of debt.

After the way they have behaved they should do precisely that. SISU are basically blackmailing a charity. There comes a time when peoples livelihood take precedence over whether or not a football teaqm can be allowed to play in a particular league!

Total boycott until SISU go is absolutely the right thing to do now.

I thought that wanting a company to go bankrupt and then get them cheap rather than paying a reasonable sum for it was a good business tactic?

Or is that only for Hoffman?

Steve.B50 · Nov 28, 2012

ACL Could survive without the football club. Have you been to the arena on none match days, its always busy. They have ehxibitions and confrences every day and are now in the top 10 of venues in the UK.
Fisher might want to try blackmailing ACL but I think he will loose.

If SISU have money to invest in buying part of the ground, why dont they pay part of the rent?

Mary_Mungo_Midge · Nov 28, 2012

If this scenario is thought through, and that if ACL and/or it's agents call in the debt that CCFC are contractually obliged to pay then the club goes bust then this is shameful.

Why ever were SISU's agents/employees awarding contracts to players such as Bell - sorry to name names but it's pertinent - if we could only sustain the wage bill under a relegation situation by holding this sword over the heads of ACL?

Sorry, but it appears no better than the behaviour Pompey have evidenced in recent years, which has been much vilified on here

Mary_Mungo_Midge · Nov 28, 2012

Obvious, none of us are familiar with the contract that exists between ACL and the football club; and we're all aware that the Fisher King is trying to maneuvre events to his/SISU's advantage.

However, Rather than ACL pushing the 'nuclear button' and hitting the club with a winding-up order; would they be able to withdraw the use of the Ricoh on match days until such time as SISU's agents came back with a viable proposition? We know SISU have already rejected a 50% reduction in rent

wingy · Nov 28, 2012

I would expect that there is scope to let CCFC complete the season even if Sisu pay not one penny more this season,however that would enable ACL

to prepare to jettison the club in the summer with other activities/or teams replacing the Club and its income .The scope for this is evident in that

ACL have been paying down the loan at an accelerated rate and are potentially 3 years ahead of schedule ,which kind of debunks TFs assertion that

ACL are at the precipice.Who in the media is going to ask him to evidence his assertions?:thinking about:

OyJimmy · Nov 28, 2012

First thing Yorkshire bank will do is call in the debt, as it's standard business practice. If CCFC then fold they may then get together with Deloites and buy the remenants.

Best things SISU can do if they call in the debt is try to cut a deal with Yorkshire bank as we are worth nothing without the stadium

Mary_Mungo_Midge · Nov 28, 2012

OyJimmy said:
First thing Yorkshire bank will do is call in the debt, as it's standard business practice. If CCFC then fold they may then get together with Deloites and buy the remenants.

Best things SISU can do if they call in the debt is try to cut a deal with Yorkshire bank as we are worth nothing without the stadium

I wonder in that regard as to whether ACL have been quite clever here. My guess is that SISU, in withholding rents, knew that ACL would never wish to hit the club with a winding up order; due to the 'council closes the football club' headlines that would doubtless ensue.

Withholding thereby had certainly given ACL a headache, but has its magnitude also given them am excuse to call in third-parties to do their dirty work for them?

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