Maddison (1 Viewer)

I think I feel ill.
Good luck to James tho - he certainly deserves this move - but Leicester!
Could of been worse I suppose - at least Villa are skint and couldn't afford him!

Apparently as he wants to be nearer to his family home in Coventry! Still sucks he's gonna be playing for them. Still, its only gonna be a year or so before he moves to one of the big five/six clubs at the top end of the prem

Am I the only person not bothered if he goes to Leicester or Southampton?

Nick said:

Am I the only person not bothered if he goes to Leicester or Southampton?

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Probably!

Nick said:

Am I the only person not bothered if he goes to Leicester or Southampton?

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no, I'm not either.
Not like we are likely to be facing either of them in the league any time soon.

He's pretty much grown up with George Thomas so that'll play a role too I guess.

Mr Panda said:

He's pretty much grown up with George Thomas so that'll play a role too I guess.

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And he's mates with Ben Chilwell as well. Big reunion for the lads

Don't matter where he goes, SISU will pocket all the money... :emoji_fishing_pole_and_fish:

At least he'll get game time & chance to develop further.......no room for him in a top team.....not just yet....

I Wonder what happens to the extra clauses in his sale from us , premier league debut
England cap etc ,
Said we sold him for 2.5 million but could rise to 6 million and a sell on clause in aswell ,
So what happens to this extra 3.5 million we would have got if he stayed at Norwich and they got promoted etc ????

As much as I'd love to have been a professional footballer, I'm so glad I don't have to make these decisions. I know it's often financial reasons, but I have such an irrational dislike of so many clubs: Villa, West Brom, Wolves, Leicester, Sheffield United, Sunderland, Notts Co., Peterborough, Liverpool, Everton, Chelsea, Millwall, Leeds, Cardiff, MK Dons - varying reasons but would certainly limit my options!

skybluetony176 said:

Didn’t you want to call a “taxi for Robins”?

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Yes let’s and see what I said.

AFCCOVENTRY said:

At many points last season it seemed we won't make the autos, then the play-offs and might end up outside the promotion pack. Luckily we managed to pull a run together at the end of the season to get there. My assessment will always change during a season.

Robins will not get a penny from Sisu. The club is being run on a self-sufficient basis.

As for assessments...the fact you still don't rate Biamou is hilarious. If Biamou didn't put the shift and goals he got in the later half of the season we wouldn't have made it. He complemented MM fantastically.

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Quiz question

Who did you say “good riddance to shit” about?

I'm with Nick on this all I care about is who's playing for us next season. Players leave clubs all the time, you miss them for a while,they get replaced and you move on. Using this analogy I got talking to an ex girlfriend recently who when we split up I was gutted, but when I was chatting to her again the spark had gone, so it was for the best. She still had a cracking figure though !

2.4m for cov then if 10% ios true

could mean we can refuse offers for bayliss and mcnulty and get some talent in to help with league 1 title challenge!

"Robins will not get a penny from Sisu. The club is being run on a self-sufficient basis."

The Maddison sale and sell on clause is CCFC business.

Im hoping SISU see that as part of us being self sufficient. Or am i being naive?

If SISU had invested some decent money in us two or 3 years ago, got us established in the championship, and kept hold of Maddison, they would be looking at a £20 million payday now, more than the club is currently worth. Add to that the probability that Bayliss could be worth a similar amount on a couple of years.
Ifs & buts, I know, but good business people who have a thorough knowledge of their business usually get these things right.

skyblue025 said:

Didn't the accounts show 2-2.5million (can't remember the exact amount) in admin charges last year? That's money out of the club.

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If I owe you 2.5 million, but I don't actually give it you because I don't have a pot to piss in, did you take 2.5 million from me?

Look at the accounts.

If there is £X money in the bank at the start of the year and £Y received in turnover, and £Z paid out in costs...and we know the money in the bank at the end of the accounts, then we can quickly deduce if Sisu have been paid a penny of this debt.. OSB goes through the accounts every year and there has been no indication in recent years [if there was then believe me we would know about it!] that they have taken a penny, and yet all we get is rumors spread by people that don't actually know, saying that Sisu are taking millions in fees... people believe this, and then choose not to buy ST etc as a result... end rant

steve cooper said:

If SISU had invested some decent money in us two or 3 years ago, got us established in the championship, and kept hold of Maddison, they would be looking at a £20 million payday now, more than the club is currently worth. Add to that the probability that Bayliss could be worth a similar amount on a couple of years.
Ifs & buts, I know, but good business people who have a thorough knowledge of their business usually get these things right.

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Many club owners have “invested” well over £100 million to just tread water in the championship - are you saying these are good business people?

luwalla said:

I spoke to someone in a high position within the club and he told me that both Wembley matches and the odd chunk of money from player sales etc basically goes to cover the clubs running losses year on year , if you imagine we need say 12k attendance l to cover running costs ( maybe 15k if they throw a few quid in for some half decent transfers ) and we get maybe 7-8k on average gate over the season , then it doesnt take a genius to work out we need to cover losses with things like this. ( not saying those numbers are what we are talking about, but our gate doesn’t cover costs by some margin ) He said robins gets his budget and cup runs and player sales have little impact on that , it just plugs the gap for the losses the club make

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I would largely agree with this, maybe not the figures quoted but they were only examples any way. The Principle is correct

Most clubs do not prepare their budgets on the expectation of cup success. It would be a nonsense because there is no real way of reaching a prudent figure. I would think that the EFL would also be questioning things if a club did include

All monies have to be paid to the club, in this case Otium. That means the cashflow of player transfers or anything else is applied to the operating cashflow of the club first. That means the owners can only withdraw funds once everything else has been cleared. If they didn't pay the bills as they fell due or by arrangement with the creditors then it could be argued that the club was trading insolvently or even fraudulently.

Administrative costs described in the accounts is a companies act title to a group of overheads paid out by a business. That would be things like rent, rates, insurance, depreciation, etc There is some detail in the Otium accounts in note 3. Accounting & Companies Act rules define the administration costs that must be disclosed - and it is not all costs. The term does not describe monies paid to SISU or to an Administrator

There is no evidence of SISU taking out more than they have put in over the last couple of years. In 2016 & 2017 they put in £500k each year in 2017 they took out £112k. The interest on the loans has not been drawn down but is accrued, increasing the liabilities of the club. Given the amount of interest owed why would they need to hide fees in other parts of the accounts? There would also need to be some detail in the notes of SBS&L

The current profitability or otherwise of the Club is entirely under the control of the current owners. That has no relationship to previous owners or even the early years. Otium started from zero in 2011. The majority of the debt and balance sheet deficit has been created by SISU

In the 2017 accounts it has accumulated P&L acc losses of 82.7m on the balance sheet, of that since 2011 there is 7.9m in interest that has been accrued not paid, 61m that relates to old CCFC Ltd & CCFC H historic debt that was transferred to Otium to create the preference shares that really (IMO) didn't really exist except in clever accounting, and further provisions of 8.6m relating to moving things around then writing off old amounts from the administration. Basically all legal but all paper transactions

Operating, Otium has made 6.2m losses since 2013/14 before interest

Final thought if Maddison is sold for 22m and we get 3.3m we can only use 60% of that next season. The amount recd could allow the accounts to show a positive, it could leave a cash surplus. That surplus could be applied to repaying some of the capital loans owed to the investors. That would improve the balance sheet and reduce future interest liabilities .......... and make a potential sale either more attractive to any one looking to buy in or a little easier to achieve. Would it be such a bad thing for the owners to pay back some of the loan capital if it makes the club more attractive to new owners?

Nick said:

Am I the only person not bothered if he goes to Leicester or Southampton?

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I'm not bothered if he goes to Leicester - I want him to go to the biggest bidder so we get as big a cut as possible.

The outrage on the Cov Fans Forum on him going to Leicester is bizarre - Maddison is never going to play for us again...unless it's when he's 37 and looking for one last payday.

Nick said:

Am I the only person not bothered if he goes to Leicester or Southampton?

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No. It doesn't matter to me where he goes.

Nick said:

Am I the only person not bothered if he goes to Leicester or Southampton?

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If I didn't know so many Leicester fans I wouldn't have been so bothered.

Its just fucking tiring to hear the same old 'Can we wash the Cov off him before he joins' line. Ha fucking ha.

To be honest I thought he would be making a bigger move than that, and knowing the way Leicester play and how negative Puel is, I cant see how he will fit into their system.

Grendel said:

Many club owners have “invested” well over £100 million to just tread water in the championship - are you saying these are good business people?

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I think I saw that the derby wage bill is 30 million a year, good businessmen’s brains go to mush when they buy football clubs

Moff said:

If I didn't know so many Leicester fans I wouldn't have been so bothered.

Its just fucking tiring to hear the same old 'Can we wash the Cov off him before he joins' line. Ha fucking ha.

To be honest I thought he would be making a bigger move than that, and knowing the way Leicester play and how negative Puel is, I cant see how he will fit into their system.

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Look at it this way, Leicester will be helping to finance our success with a large chunk of money partly financed by their fans :happy:

Love the CT.

“This is how much Coventry City are set to earn as Norwich City accept bids for James Maddison”

Click article.

“Coventry City can expect a significant summer windfall after Norwich City accepted bids for wanted man James Maddison.”

Grendel said:

Many club owners have “invested” well over £100 million to just tread water in the championship - are you saying these are good business people?

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I get your point

Grendel said:

Many club owners have “invested” well over £100 million to just tread water in the championship - are you saying these are good business people?

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As I said, I get your point, but does that mean we can never expect to get into the championship with a realistic chance of staying there?

oldskyblue58 said:

Look at it this way, Leicester will be helping to finance our success with a large chunk of money partly financed by their fans :happy:

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Tbh Robins probably wouldn't want too much for fees to pay other clubs
The big advantage is to have more budget for wages
At this level even the best of the experienced players at other teams are on fairly short contracts so offering good wages and bonuses is the key to success in L1 and L2
There will still be lots of very good players who are considering new deals from their present clubs

Speng said:

I Wonder what happens to the extra clauses in his sale from us , premier league debut
England cap etc ,
Said we sold him for 2.5 million but could rise to 6 million and a sell on clause in aswell ,
So what happens to this extra 3.5 million we would have got if he stayed at Norwich and they got promoted etc ????

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They would remain in place I imagine or the buying/selling club would buy the clauses out. They aren't written into the players contract so him moving should have no bearing on money for future England caps e.t.c

steve cooper said:

As I said, I get your point, but does that mean we can never expect to get into the championship with a realistic chance of staying there?

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Probably unless we get very lucky or have some owner who decides not to invest but chuck money at the club with zero expectation of recovery

skyblue025 said:

Didn't the accounts show 2-2.5million (can't remember the exact amount) in admin charges last year? That's money out of the club.

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No, they didn't. They show an administration cost which all clubs have, it's the club's running costs.

AFCCOVENTRY said:

At many points last season it seemed we won't make the autos, then the play-offs and might end up outside the promotion pack. Luckily we managed to pull a run together at the end of the season to get there. My assessment will always change during a season.

Robins will not get a penny from Sisu. The club is being run on a self-sufficient basis.

As for assessments...the fact you still don't rate Biamou is hilarious. If Biamou didn't put the shift and goals he got in the later half of the season we wouldn't have made it. He complemented MM fantastically.

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We were in the play off places for virtually the entire season you drip.

Moff said:

If I didn't know so many Leicester fans I wouldn't have been so bothered.

Its just fucking tiring to hear the same old 'Can we wash the Cov off him before he joins' line. Ha fucking ha.

To be honest I thought he would be making a bigger move than that, and knowing the way Leicester play and how negative Puel is, I cant see how he will fit into their system.

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He'll get neck ache watching that ball go back and forth over his head