cloughie
Well-Known Member
Unfortunately not true as the administrator will sell to the highest bidder which could be ARVO and who owns them? sisu
That breaks all contracts ie rent and they sadly retain control
I think the main sticking point to any potential investors is SISU.
No one wants to deal with them because they know it's futile.
SISU want their investment back and they'll do anything to accomplish that.
Administration would be favourable as SISU would have to leave.
The Council's hard line attitude right now has come on ever so sudden and Sky Blue Pete said he'd had a chat with someone from the Council and they said there are interested parties who would like to do a deal to buy CCFC but will not deal with SISU under any circumstances.
If administration comes round, once they're gone, these investors can step in. They'd also have a clean slate with the Council and ACL so would be able to negotiate for control of the stadium!
The council would be willing to deal with them because they are not SISU!
As for the land issue, I believe they want to build hotels and more housing in that area, not to mention the train station.
Hotel's allow oppersition fans (and travelling Sky Blue Fans) the opportunity to come down the day before the match.
Their money would be going into not only the hotel but also the shops and eateries across from the stadium.
It's a cash cow waiting to happen! But SISU haven't got the money (nor the stadium) in order to do it.
That's why people are always saying SISU only want the stadium and the land and not CCFC.
They'd definately start to make money is they got their grubby little hands on the land.
But the Council wont let them because they don't trust them!
Total ill informed tosh
It's coming partly because a lot of people adopt the same attitude as you. A united front against the council as seen in many other community owned projects could produce a much more favourable outcome.
Administration cannot/ will not happen, so quit dreaming
nor an excessively high rent or landlords that have the power to make or break a business.
I don't get all this about developing the land around the RIcoh. What is there to develop. There's already a massive retail complex. More hotels? Can the current climate sustain more businesses like that? Particularly when building large scale infrastructure projects doesn't seem to make much sense.
I admire your confidence/stupidity.
From my post just now on another thread:
Neither admin or liquidation is likely. Here is why:
Admin would need SISU to agree to it - they won't because the vast majority of the debt - let's call it £40m for the sake of argument, is with their own shareholders. Because administration is a process of effectively writing off your debts, admin for Coventry City would basically mean SISU wiping out its' own shareholders investment in CCFC. Won't happen, as SISU are a hedge fund whose whole purpose is to protect the investment of its shareholders.
Liquidation would need SISU to do it, and would wipe out all the debt owed to SISU's shareholders. This would be a terrible deal for SISU to have to get their shareholders to agree - the shareholders are far more likely to ask for the club to be sold to a new owner, even for a nominal £1, as long as some of the debt was carried over to the new owners, even at a low-ish rate like 30p in the pound. SISU also of course has its' corporate reputation to think of, and the enormous damage it would do to its credibility if they oversaw the demise of the biggest English club ever to go bust. Hardly a glowing recommendation of an investment management company.
So to sum up, we will be sold, not wound up or placed into admin.
Hedge funds revel in taking high risk investments. Some you win, some you lose. They know when to cut their losses and that time is fast approaching. 45m, if you actually believe they have put in, may not be such a hit when split between many investors particularly when other investments they are involved in may have made millions. This will not be the first investment that has failed for SISU and a good hedge fund will always leave a sinking ship before they drown. They WILL NOT continue to throw money at it just because they have already spent a lot already. These are professional and ruthless money handlers who will not continue to get burned.
Tantalisingly close?
To make a profit we'd need to Premier League, and it will take millions more than our current budget to put us there, even if FFP allowed.
CCFC are many things, but tantalisingly close to success we are not.
Tantalisingly close?
To make a profit we'd need to Premier League, and it will take millions more than our current budget to put us there, even if FFP allowed.
CCFC are many things, but tantalisingly close to success we are not.
Tell you what ! Why dont the council do their job and fekkin develop the surrounding areas themselves ,instead of insisting other parties do it for them.
Fair point, but neither have the facilities and potential of the Ricoh Arena.
Yes, tantalisingly close. This isn't like a loss-making start-up business that has nowhere to go.
The break-even number in terms of attendance could be easily achieved with a team that is winning. Add to that extra revenue from runs in competitions like the paint trophy. Recoup some money on promotion. And quite on top of that, the club has more sale value as an asset in the Championship one would imagine. If I was one of those investors, I'd be much more for an investment surge than writing off £45m.
Be a good question to ask Steve Waggot tomorrow night.
As far as I understand though, the correct scenario you paint in paragraph 2 hasn't fundamentally changed since 2007 when SISU arrived - except that we exited the Championship in the wrong direction. It will take more rebuilding than ever ... At some point, the shareholders will say "enough is enough" and stop pouring good money after bad. I cannot see anything left that prevents this from happening.
Taylor, why your scepticism towards the Trust?
Even if they can make an iota of difference in dislodging SISU and giving us the fresh start we need, they must be worth supporting wholeheartedly.
Well, the hope would be that all of these failures make them learn: unhesitatingly fire underperforming managers (Coleman, Thorn); support the squad (like this season) and see greater success and happiness in the fanbase; reap rewards within a year or two that could be had with a small investment rather than write off £45m.
I don't dispute anything you wrote SBT, especially on politicians, but I do think that 800 is a good number and that for all their faults, they are worth supporting.
Again I agree here - what you say is transparently correct. However, again, this has been the case for a number of years - unless you think SISU's shareholders will continue to fund CCFC indefinitely, then by definition you agree that they would draw a line somewhere. While it is all a guessing game, I would expect their patience is wearing thin.
Agree with you there CJ-at least they are actively trying to do something in the club's interests.
Sky blue Taylor.
The Trust tries to me impartial but as individual supporters we have our own views as members of the trust.
I do not genuinely believe the Trust could ever raise enough money to buy the club or ever run the organisation.
However, I for one want to actually do something and at least try and save the team I love.
What we need is everyone to be part of something that is at the very least is trying, we may not all agree but we have the same aim?
On another note if we are anti SISU why has Steve Waggot agreed to meet with the Trust (although all welcome) tomorrow evening?
As I say, my hope would be that they continue to learn from their mistakes. I actually think they did that for the most part this season: the squad was well-funded, they acted decisively after a bad start and brought in a good manager. And as much as people may dislike Fisher and/or Waggott, there is no doubt they communicate with the fans much better than they used to. The critical mistake was in sticking with Andy Thorn during the summer. I think CCFC would be more-or-less top of the table were it not for those first eight games.
A real case could be made to investors that there's sunshine to be had from this season. Whether they will do that or not is anyone's guess - it is just my hope.
Sky blue Taylor.
The Trust tries to me impartial but as individual supporters we have our own views as members of the trust.
I do not genuinely believe the Trust could ever raise enough money to buy the club or ever run the organisation.
However, I for one want to actually do something and at least try and save the team I love.
What we need is everyone to be part of something that is at the very least is trying, we may not all agree but we have the same aim?
On another note if we are anti SISU why has Steve Waggot agreed to meet with the Trust (although all welcome) tomorrow evening?
While we disagree on the merits of AT
The argument that you suggest putting to the shareholders differs little in substance to all such messages since 2007 - the picture has worsened, not brightened, and looks set to continue to do so. We may get better weather and no harm in trying to plead with other people to share such a view, but it's not in the forecast now.
Let's see SBT. Accepting the offer of half rent wouldn't have barred further negotiation thereafter and is a mere £200k more than what Tim deems acceptable. The matter at hand is purely food and drink which is what Tim says will decide whether the club goes bust or not.
How plausible do you think that really is?
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