Grendel
Well-Known Member
It can't be done - the league have given a 5 year window for sisu to operate in.
Agree totally with that point. Im trying to remember the timescale of them few weeks leading upto August, and most likely the admin was held up purely for this reason.
Of course i wouldnt want to see the end of the club but the way its heading there looks likely there will be an abrupt end if things carry on. Taking the GS of them and then offering it for sale would be fantastic news if legally could be done.
It can't be done - the league have given a 5 year window for sisu to operate in.
progress, my arse. plenty of propaganda and posturing.... but with regular review of progress made.
... but with regular review of progress made.
progress, my arse. plenty of propaganda and posturing.
My problem with the whole thing is they said they regrettably awarded the GS to Otium on the eve of the season as if they hadnt there would have been no CCFC.
Thats a fair comment as, legally the admin process was concluded correctly. But now SISU have not acted on any of the agreed conditions could the FL withdraw the GS from them as punishment until they act on there promises.
It can't be done - the league have given a 5 year window for sisu to operate in.
I think they could, but will not for fear of litigation.
we have a photo, what more do you want, its only been a year, give them a chance
Didn't stop them refusing to consider bids for Portsmouth from anyone but the supporters.
It can't be done - the league have given a 5 year window for sisu to operate in.
They pulled out all the stops to make sure Portsmouth were sold to the supporters' trust and nobody else. They refused to consider bids from those attached to the previous regime and put pressure on the administrator to this effect. No such help was forthcoming to some random team from the West Midlands though.
Actually it will be very easy for them to make a case that they are marking progress. Forums, employing land consultants, buying land then applying slowly for planning permission. A case is easy to construct.
I don't think they had an embedded hedge fund with a lot to lose & I imagine the previous owner was broke & couldn’t sue like SISU will. So in short, a different situation.
Thanks, I thought that had happened and wanted to make note of it in my post but a quick google didn't turn it up and since I haven't followed the portsmouth situation closely I thought my recollection might have been bad. It certainly does seem then the football league could have solved all this for us while we were in admin and chose not too.
They pulled out all the stops to make sure Portsmouth were sold to the supporters' trust and nobody else. They refused to consider bids from those attached to the previous regime and put pressure on the administrator to this effect. No such help was forthcoming to some random team from the West Midlands though.
The chairman of the FL believes it is best to have private businesses running football clubs over fans groups
The chairman of the FL believes it is best to have private businesses running football clubs over fans groups
My favourite manager of all time Michael Appleton used to bitterly complain about how little the League were doing to help Portsmouth. Fond memories.
We all know everything that SISU have done recently was planned towards this JR. The game changer was when ACL made the 3 year deal to SISU through the FL. They even tried to make out at the time that an offer wasn't made. Then Fisher said that they wouldn't be after damages from CCC but would be looking at legal action against individuals if they were found to be at fault. I suspect that this was to try and make certain individuals scared to keep up with fighting against them and let them get what they want.
The FL seem to have believed them when they said that they were forced out of Coventry. But how can this be proved in court if they went for damages when it can be proved that more offers were made? At least one offer that was less than they are paying to be in Northampton. And saying that they don't trust CCC/ACL won't wash either. You can't claim damages for saying you don't trust someone.
I can't see SISU liquidating our club if they lose the JR. ATM they have invested 30m to 40m in our club. If they liquidate our club they will have lost 30m to 40m. They know if they lose the JR or get nothing for winning it that CCC will still do a deal with them. So they see it as a gamble worth taking.
They still seem to also be looking towards the future of our club. Bringing through more youth players. Not much wages to pay out. Selling players when good bids come in. If they take a cheap rental agreement and keep the outgoings down they will make money. This will add value to our club. And if they manage to get a promotion it is said to be worth 5m a season to them. So they might manage to have a half decent squad after promotion costing 5m a season and have an income of close to 10m. To me this would be the time they will look to sell.
Mr Labovitch said eithervon CWR or at an SCG meeting that the outcome of the JR wouldn't affect the club. So if we are to believe him the club will not be liquidated if the JR goes against Sisu.
If this was correct and they explained it.
Instead of treating us like idiots with the new stadium ( that is not financially viable) rubbish
They may get less resistance
Actually it will be very easy for them to make a case that they are marking progress. Forums, employing land consultants, buying land then applying slowly for planning permission. A case is easy to construct.
Mr Labovitch said either on CWR or at an SCG meeting that the outcome of the JR wouldn't affect the club. So if we are to believe him the club will not be liquidated if the JR goes against Sisu.
I disagree Grendel, if said land consultants have been on board for nearly a year and we haven't found the land yet, it is obvious that they are sand bagging. The FL can look at other models such as Shrewsbury, Rotherham and Brentford to name a few to get some sort of timeline on these things. Each case will be different but one thing will be obvious with any ground that has been built, that is if the clubs are serious about building a ground, you will see how quickly they want to get things done so the thing can finally be built. How quickly they bought land, how quickly they had plans drawn up, how quickly they applied for planning, how quickly they engaged in local resident forums. These are all things that a club would do as soon as possible if they really wanted to build a stadium. All we have from Sisu in nearly a year is a picture that looks like a house on Toy Story and a fan forum to pick the seating colour scheme.
SISU used the threat of legal action to get their own way with the League before and they can keep doing it in the future.
That was with past things, surely as this ground move was on FL terms, how could Sisu threaten legal action over something they agreed to adhere to? Sisu cannot keep threatening legal action about past indiscretions because is that not like blackmail?
What will they do if progress isn't satisfactory? Fines? Points deductions? Neither will bother SISU.
Actually it will be very easy for them to make a case that they are marking progress. Forums, employing land consultants, buying land then applying slowly for planning permission. A case is easy to construct.
Take back the Golden Share?
I was thinking more in terms of loading the costs onto our club if they don't win.It won't affect our club. It is all about returns for their investors. And if for some unknown reason they end up with the Ricoh it wont affect our club either. Our club won't own it.
As I understood it, they haven't actually had to pay the bond yet, but will only have to pay it if they renege on the agreement. And of course Labovitch will try and claim that the JR will have no bearing on the club's future. I doubt if there are many who believe that.The £1m bond lodged with the League is withheld if the club doesn't return within the agreed timeframe. That's it. Loose change to a hedge fund who has spunked £45m on this venture.
To me, I hope that if someone on either side has done something illegal then they are pulled up for it and punished, regardless of whether that is SISU, ACL or CCC. I don't care who "wins" and long as the fans ultimately do and we are back where we belong. The Ricoh.
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