The thread should have been called "No one will agree with me, but;"..
Then you would have been right chap..
Or just "No one will agree with me."
Now SISU has no chance of buying a half share in the Ricoh, maybe put CCFC into Administration now, enabling someone to come in and "rescue" the Sky Blues and get rid of SISU. I know this would mean another year (at least) in Division One, but maybe in the long term may be best for CCFC.
I am starting to think what the "but;" may have been for Otis, any ideas?
The council have a sale veto on the 50% that the Higgs charity own (and vice -versa iirc), even if Higgs charity agreed to sell their stake to SISU (very unlikely).Don't think the council deal stops SISU from buying the Higgs share of the lease. Does seem more unlikely than ever now though.
"No one will agree with me but; I am happy sitting here in my jacket that ties up at the back, looking at the woodpeckers through the bars on my window'
I think its
a: carry on as now, cost cutting and bumping along and hoping by some miracle that MR can get promotion on a shoestring that will get even thinner
b: refuse to pay rent and be forced into liquidation by ACL and get their ARVO money (not more than £1m)
c: sell up at a price above liquidation but well below what they have invested. Maybe £2m-£5m
And they won't liquidate as they lose their £40M.
Hopefully, this will mean compromise with ACL. The Club can then move forward. If this looks like the Club won't be able to buy a slice of the Arena then it makes us less attractive to investors or potential new owners. So I can't see SISU going anywhere soon.
The question that needed answering for option a. is
- can SISU manage the club at break even till they have restored enough value to cut thier losses and sell it? I imagine MR will go to a better employer if his budget is slashed too much.
Now SISU has no chance of buying a half share in the Ricoh, maybe put CCFC into Administration now, enabling someone to come in and "rescue" the Sky Blues and get rid of SISU. I know this would mean another year (at least) in Division One, but maybe in the long term may be best for CCFC.
I think its
a: carry on as now, cost cutting and bumping along and hoping by some miracle that MR can get promotion on a shoestring that will get even thinner
b: refuse to pay rent and be forced into liquidation by ACL and get their ARVO money (not more than £1m)
c: sell up at a price above liquidation but well below what they have invested. Maybe £2m-£5m
Upon reading the news yesterday my first reaction was fair play to them for securing the stadium. Smart move.
My second thought, was that really screws SISU up now. My guess is they were funding the losses with the hope of the acquistion of the stadium, perhaps by forcing ACL under. Now that option is gone. The club is still losing millions a year and they have no hope of achieving their goals. Someone said why would they liquidate and lose their £40m? Well in 2 years that could be £45m to £50m. It's called cutting your losses.
No deal with the council will save the club enough money, the only real way sadly is slashing the wage bill, but this contradicts a plan for promtion.
They need to decide now whether they think supporting the club for the rest of this year and probably next year in league 1 with a large budget for promotion is viable
or
Reduce the wage bill in line with the gate receipts.
or
Cut losses and run.
c actually made me laugh out loud! you think anyone will pay a seven figure sum for a failing business that has not made money in its entire existence bar 1987 :facepalm:
maybe and its a bloody big maybe SISU will let the club move to another owners control if the debts can be restructured so that they are paid back a percentage of the total owed over a lengthy period of time. But even then they will want to keep its debenture in place should the new company fail.
I think this act pushes sisu into a corner and they have to reveal their motives now. Will they agree a deal or gamble more? No question in my mind that at the right price there would be people interested in buying ccfc.
council will never sell the stadium...not even to the nicest most financially stable investers
@MMM - you forgot Avro and to be sure, there is little clarity is there not!
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