stupot07
Well-Known Member
I may be wrong but I'm sure OSB has said the money has never actually been paid out.
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If the investors put more money in every year than 1,8m, and then get 1,8m back, they are effectively paying themselves 1,8m out of their investment. That seems to be a Ponzi scheme. The debts are huge and I doubt whether the Investors will ever get their money back as CCFC is not worth enough to cover the debts. Is this legal?
The sisu social club. Christ.
I think the point the poster might be making is that you mention the rent as being unsustainable very often. Which I agree with. But you don't afford the same level of condemnation for interest charges (even though their value, with management charges atop are some 50% higher than the draconian rent agreement) - from which we derive no tangible benefit. This being from the same organisation who's front man described us as being 'debt free' when fans handed their shares over for nothing in 2007. Not to mention significant debts written off by former officers of the club too
Yes, we were never debt free, never bought that line anyway. And you could argue we do benefit from the loan for which the loan interests are for which have kept the club ticking over. I'm like you, I believe football clubs should live within their means and at least breakeven. If you breakeven then you don't need to borrow money, and therefore have no interest to pay.
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
I may be wrong but I'm sure OSB has said the money has never actually been paid out.
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
I would be happy with being sustainable, I don't think a lot of fans would though would they when they demand signings etc?
I would be happy with being sustainable, I don't think a lot of fans would though would they when they demand signings etc?
I may be wrong but I'm sure OSB has said the money has never actually been paid out.
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
Yes, we were never debt free, never bought that line anyway. And you could argue we do benefit from the loan for which the loan interests are for which have kept the club ticking over. I'm like you, I believe football clubs should live within their means and at least breakeven. If you breakeven then you don't need to borrow money, and therefore have no interest to pay.
wow thank you. thats really nice of you to say. cheers buddy
So at what point do we become sustainable? We currently play in the third tier of English football, have a crap budget for new signings, play 35 miles from home, upto our bollocks in debt, average 2k for 'home' games and have owners who quite frankly could not give a shit for us, the team or the city it is supposed to play from. If this is sustainable then please give me back the Richardson era.
Exciting times...on my way to court.
No matter what happens today, I've already heard the worst story I'll hear this year. Pro tip: Don't let a nurse tell you stories from work.
But the 'written off' (Robinson, et al) debt hasn't been written off; has it? Therefore, aren't we paying interest on a debt that's not actually there?
Does it involve Micky Quinn and colonic irrigation?
If this is sustainable then please give me back the Richardson era.
Close but not too close. Apparently a coat hanger dipped in boiling water is not a good cure for the clap.
Close but not too close. Apparently a coat hanger dipped in boiling water is not a good cure for the clap.
When we played at the Ricoh we were debt free !!!
Now at Sixfields we are 70million in debt !
Any Sisu supporters stopping to think how that happened ??????
No problem-i'm always happy to give credit where credit is due.
, and i repeat, surely that must make you the King of Comedy.
Ref posts #625, #635 and #640
Interesting line of defence.
Sounds like your suggesting ccfc Ltd and Sisu were conspiring to damage the business interests of acl.
Are you being serious?
Are you being serious?
I would be happy with being sustainable, I don't think a lot of fans would though would they when they demand signings etc?
yes and they sisu continue to do so with the JR. remember that as soon as mutton said hell would freeze over before acl sold to SISU ACL became SISUs competitor. SISU had no real alternative but to attack, it was their only way forward. Or be stuck never getting those funding streams and more importantly the land. (opposite the ricoh)
I have created a day 2 thread chaps.
once again thank you!
p.s i never accused you, read the wording
That's like saying I'm a competitor to Kylie Minogue's boyfriend because I fancy her?!?
I think he's making reference to TF while we were playing at the Ricoh saying something along the lines of "the club is debt free as the owners have paid all the debts" not long before we found out we hadn't been paying the rent which was incurring debt on a daily basis and not too many months later going into administration for what was essentially a debt that sisu owed sisu.
I don't recall exactly when he said it but I do remember the footage being on local TV news. If I had to guess I would say it was around November/December 2012. Happy to be corrected if needed.
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