dongonzalos
Well-Known Member
Sorry, they will not be allowed to liquidate the club. Without it first going up for sale, surely?
Jr is their last throw of dice? However cant decipher your post, probably due to spellcheck interference?
SISU know the answer that's the point. Have they been asked and pinned down on it.
If not has anyone got access to them who can
But wasn't that part of the prerequisite of the stuff they had to show the FL, so they must have some idea or otherwise all they said to the FL was we're going to build a stadium, we don't know where, we don't know how much it'll cost and we don't know when, but it will happen, honest guv.
Exactly they intend to sell
The top will need to cover somewhere between 50-100 million depending in which debt figures SISU release that is true.
Is it feasible that CCFC, lets humour them and say in the championship plus a 12k capacity stadium will sell for 50-100 million.
Everyone accepts the real debt to be a lot less so shy keep saying something everyone knows is not really correct?
Everyone accepts the real debt to be a lot less so shy keep saying something everyone knows is not really correct?
Everyone accepts the real debt to be a lot less so shy keep saying something everyone knows is not really correct?
Do you know what the debt is?
If so please enlighten me.
As far as I am aware SISU have at one point said around 30 million.
Then during the administration the administrator said near 70 million.
I am been kind and working off the 30 million figure. What would you prefer?
How much of the debt is in the Avro fund?
Thought you were about to provide answers not questions
How much of the debt is in the Avro fund?
DaleM it doesn't make sense, SISU don't make sense...they have made mistakes but other people are to blame..don't forge that!
Do you know what the debt is?
If so please enlighten me.
As far as I am aware SISU have at one point said around 30 million.
Then during the administration the administrator said near 70 million.
I am been kind and working off the 30 million figure. What would you prefer?
Much of the debts will have been written off with limited and holding being liquidated. That's the debts that was kept on the books from before sisu took over.
OSB made a post a month ago about it.
The debt left that is actually making an impact is the debt to ARVO as that is carrying interest. I think that amounts to some £12m.
JS said the debts to the original funds had been written of in the funds accounts, which means that can be bought at a much reduced value.
Serious question now . Do you actually believe them ?
Their track record of us being declared debt free in the past doesn't actually inspire me.
Serious question now . Do you actually believe them ?
Their track record of us being declared debt free in the past doesn't actually inspire me.
You area king an assumption they want to recover circa £100 million of debt. This will not be what they want to do at all. The football related to their own fund will be a lot less.
How much - no one knows and no one will ever know. There is clearly an agreed strategy which will involve ultimately a sale but what their target return is no one will ever know until the time comes.
OK so lets say the debt at the moment is £30 million ( Grendel we don't actually know so I am assuming it is a lot less than the £70 million)
Then lets add on the estimated £30 million cost of a new 12000 seater stadium somewhere in the Coventry area.
Then lets say they fill the ground every week at an average of , after tax , freebies etc. £15 a head.
So they recoup £180,000 per game.
Add in say , as a higher estimate £ 5 a head F & B revenue on which , I will be generous £3 is profit, an extra £36000 a week.
Now that comes to £216,000 per game at maximum revenue.
Multiply that by 23 games a season and you get £4,968,000. So just shy of £5 million. Add cup games etc as you will , depending on how we do.
So without paying staff,players,matchday costs etc,etc,etc, It would take 12 fucking years just to clear the debt.
Now I have gone on the top end of the scale with full houses every week and people having a pie and a pint every game.
It doesn,t make any sense to me whatsoever.
By the time this thing is built ( I don't believe for one second it ever will be ) CCFC will be a lot more in debt and potentially playing at a lower level than what we are now.
Much of the debts will have been written off with limited and holding being liquidated. That's the debts that was kept on the books from before sisu took over.
OSB made a post a month ago about it.
The debt left that is actually making an impact is the debt to ARVO as that is carrying interest. I think that amounts to some £12m.
JS said the debts to the original funds had been written of in the funds accounts, which means that can be bought at a much reduced value.
Because we dont want these crooks/con artists to get the Ricoh!!!!!It goes back to why not offer the council that kind of money for the Ricoh though? While the Council have said it's not for sale you suspect they'd have to consider any reasonable offer.
The debt has never been about what is in CCFC Ltd or CCFC H. The debt owed sits in what is owed by SBS&L to SISU investors and the amount owed to ARVO. The Interest charged by ARVO is a significant cost to the business possibly pushing £1m pa. The SBS&L loans carry no interest but are a significant obstacle to any third party investors or lenders
After loan conversions and exchanges I am not sure the loan stands at 12m but the filed accounts tomorrow will possibly clear that up (if they are filed)
The debts in the original funds were written down not off there is a difference. If written off then they wont be recovered, if written down then the current value is nil but the full amount is still due
You forgot paying interest in borrowed debt as well. It won't take 12 years. That debt will not be touched year after year. So it will be all down to the sale price
So are CCFC £10,£12 or £30 Million in debt . Or does anyone really know for sure ?
It doesn't matter anyway because add in the cost of a new stadium , of reduced capacity etc. etc. and the debt will be astronomical again.
I remember Tim Fisher saying something about equity I think but I am not 100% sure on that.
2012 accounts showed 28.55m owing to SISU investors by way of loans and loans outstanding to ARVO of 8.025m. So far there is nothing to say any has been repaid and therefore the debt I would expect to be at least 36m
The debt has never been about what is in CCFC Ltd or CCFC H. The debt owed sits in what is owed by SBS&L to SISU investors and the amount owed to ARVO. The Interest charged by ARVO is a significant cost to the business possibly pushing £1m pa. The SBS&L loans carry no interest but are a significant obstacle to any third party investors or lenders
After loan conversions and exchanges I am not sure the loan stands at 12m but the filed accounts tomorrow will possibly clear that up (if they are filed)
The debts in the original funds were written down not off there is a difference. If written off then they wont be recovered, if written down then the current value is nil but the full amount is still due
I think Mr Fisher has said a lot of things Robbo. When he said that I think he meant it was debt owed to the owners and associates not third parties (ie more in house) not that he meant shares. More playing with words in my opinion
Written DOWN, not off. My mistake. The point is a buyer can probably get that debt at a much reduced price.
And that debt I am sure is still in SBS&L at nominal value, so the books will not show £12m, but more likely around £40m.
Even if the accounts are filed tomorrow, won't it be another couple of weeks before we can access them?
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