If we presented Mr. Brody with a formal offer for his stake in the club he would have to 1) accept 2) reject 3) negotiate. he cannot just ignore a formal offer
just seen a pig fly past my window. sisu are going to spend 10,000000 ?, do you still believe in father xmas ?
What is a "formal legal offer"?
Why would he be unable to ignore it?
This could go on for some time........
They are serious questions. What makes an offer "formal" and "legal", rather than "informal" and "illegal"? Why can he not ignore this offer when it arrives? Do you believe that there is some legislation that covers this? If so, can you please reference it.
they have already put 45,000,000 into the club they say. they have proved to FL accountants that they have 10,000,000 to initially pay. you need a miracle if you think you will starve them out
Well i meant formal offer. This is by it goes through the law and through companies house. Mr. Brody would be presented with a document saying xxxxx has made you an offer of xxxxxx for your 4% stake in Coventry City. there is normally a time frame attached to an offer for a stake in a business for example it would say you have unitl 24Th of December to reply to this offer. Then by company law he must decide on his next move
Coventry population - 316,900
Disgruntled, falling fan base. irretrievable relationship with council and some fans.
Dudley (No football team) population - 310,800
Have 1 sh*t team playing 8 rings below the league and they finished bottom.
Croydon (no official football team) population - 330, 688
Next criticism?
Some of you on here are criticising me given my previous stance on the NOPM campaign.
I know we are only 3 games into the new season and no consequence of the campaign will have developed by now however, Greg Clarke has said that his accountants have seen PROOF OF FUNDS to be able to put down an initial £10,000,000 to a new stadium AND funds to cover all losses while we ground share at Northampton. This stance has been echoed by TF and the F.A.
Now for the maths. If we sold out Sixfields every week, to make things easier, lets say 7000 every game for 23 games. Right, at £16 a ticket this would mean revenue of just £2,576,000 this season. Taking away now policing costs, stewarding costs and the rest that figure probably in the region of £750,000 to £1,000,000. That leaves a revenue of around £1,750,000. Compared to the around £50,000,000 they claim to have invested already, that number is pennies.
SISU have maintained that the club is not for sale. here is where my worry is. Without this revenue I think there is more chance of the club franchising and moving away rather than coming home. We all know that SISU have no intention of building a new stadium, they want the Ricoh. The council will not sell to "such an unethical company" and so they shouldnt. So what options does this leave? 1) Franchising the club and moving to a different location 2) Sell the club. Nothing over the past 6 years has suggested to me that SISU will sell the club. Somehow Joy and Tim have convinced their investors to keep investing. They would not suddenly pull the plug after investing so much capital, it just will not happen. If they did choose to sell the price would be astronomical considering their investments into the club, the price tag significantly higher than anyone will be willing to pay.
SISU have not even acknowledged the various protests and campaigns that have surfaced over the past few months. The fans have become divided and the gap between this division is only widening. The fans need some sort of leadership. This should have come from the trust, from the outset. I agree that the KCIC campaign was a good idea however I now see the trust withering away and not attempted to bridge the gap of disgruntled fans. This is why we need a change of direction.
I dont dislike the NOPM campaign by any stretch of the imagination however I feel it can be used as a scapegoat by lazy fans who just think that shouting NOPM will change everything.
We need a new direction, new leadership and begin to unite us fans again. We are much stronger together than we are apart. Arguing amongst ourselves shows us to be a mockery and actually shows SISU are winning. it is basically a carbon copy of Wimbledon/MK Dons.
While I agree we need SISU gone we also need transparency of our club at board level. This is why i suggested attempting to purchase Brody's 4% stake in the club and then to elect a fan rep to sit on the board. At least we have something which we can use as a catalyst to get things done. At least Fisher would have to listen to fans opinions and any wrong doings will be brought to light.
Other than that I suggested a mass pitch invasion Vs Sheffield UTD live on sky, just something to physically affect the runnings of the club in a way that cannot be ignored.
We need to constantly chnage our approach until we find the one that changes things. But firsts things first we need to be united, we need our trust to step up the mark.
I have given you all at least some evidence as why the NOPM campaign will not work, that is more than anything you can give me to suggest it will? other than "companies cannot operate without consumers" yes thats true, but i am 100% sure SISU would rather franchise the club than sell.
I think you will find Palace play in Croyden you SISU puppet.
we have had one home game come back after ten home games and still say its not working
IMHO...
NOPM will NOT work immediately as Otium have the means to fund the club without customers in the short-term.
NOPM will work long-term as the funds "donated" by Otium/Sisu businesses in order to finance the club are NOT ALLOWED to be conditional or loans in they are to qualify under the Salary Cap Protocol 60% figure....
...so unlike previously where sisu have allegedly funded the club by means of building debt......they will not be able to do this IF they require the new funds to contribute in anyway to the salary of players....so they would actually have to invest/spend the money....
...Of course the easy way around this is either to ignore it (and face sanctions such as transfer embargos etc.) or to just play more & more players who have graduated via the academy who happen to be exempt from the SCMP 60% rules!!!
We have played 1 'home' game so far, so no one knows how this will yet play out. If SISU weren't bothered by attendances why are they taking full page adverts in the local paper, offering BOGOF hospitality deals, if attendances didn't matter. 5/6 months on from stating plans about a new ground there is still no firm indication of anything concrete happening. Greg Clarke has openly admitted that he doesn't know if a new ground will be built. If SISU lose their judicial review that will greatly limit their options. Yes SISU won't easily walk away, however no business can sustain losses forever.Marketing is done by all football clubs and I think you are clinging onto tiny glimmers of hope. like I said if we sold out every game they would have revenue of £2.5m that is not enough to support this club. This is what i mean by they have the funds to accommodate the loss, if they didnt they would of stayed at the ricoh its that simple
they have already put 45,000,000 into the club they say. they have proved to FL accountants that they have 10,000,000 to initially pay. you need a miracle if you think you will starve them out
actually it would be more like 1.7m because you havent taken out the VAT or factored in the cheap season tickets and concessions . add on the advertising income, the F&B/carpark shared with Northampton the shop sales TV money etc you are probably heading towards 3m net turnover
Then take out the costs
Groundrent, policing, utilities, insurance etc say £2m
Wages - this isnt a straight 60% of 3.0m there are other factors involved including ages of players, share capital increases, non playing staff etc but say the total is 2.5m
interest on loans runs at £1m+ a year (likely more now)
spend on academy 500k
costs of shop and ryton £500k
loss 3.5m + per year possibly ? call it 3m even with sell out crowds
Lets say they can cover that each year thats up to 15m over the time they remain under league rules at sixfields. If only £100k is lost by NOPM each year thats another 500k in total. Probably not a deal breaker for SISU but it adds some pressure.
But the real problem NOPM causes is that the kids are not getting the merchandise, not getting to see the team. They dont build affinity to the club choose other more successful teams. Yes some will go but the crowd limit is currently 7400 and kids dont hang around for extensions to be built so more can go, they choose other things, put pressure on parents to support them in other things. The worry for me for the club (not SISU) is that there is a whole generation of kids that will lose connection with the club mainly because of the move but partly because of the NOPM campaign. That will have an effect well past the 3 years of groundshare.
I cant be arsed to find the interview however, Clark said along the lines of "my accountants have seen the funds to prove they can initially pay 10,000,000 into the stadium borrow the other 15,000,000. also that the club can cover losses for the 3/5 year period" also he said that he didnt know if they would return but his accounts have seen the monetary proof that it is possible. (also possible to build a ground anywhere)clark actually said they had no proof that SISU would ever return to cov so where is the proof of funds in your own head i havn't seen them
Ill come back after 46 games and prove its not working
We have played 1 'home' game so far, so no one knows how this will yet play out. If SISU weren't bothered by attendances why are they taking full page adverts in the local paper, offering BOGOF hospitality deals, if attendances didn't matter. 5/6 months on from stating plans about a new ground there is still no firm indication of anything concrete happening. Greg Clarke has openly admitted that he doesn't know if a new ground will be built. If SISU lose their judicial review that will greatly limit their options. Yes SISU won't easily walk away, however no business can sustain losses forever.
Maybe SISU will go on happily losing money for years and years, although most rationale people have to believe that sooner or later, they will come to their senses, and reach a deal to sell up.
I cant be arsed to find the interview however, Clark said along the lines of "my accountants have seen the funds to prove they can initially pay 10,000,000 into the stadium borrow the other 15,000,000. also that the club can cover losses for the 3/5 year period" also he said that he didnt know if they would return but his accounts have seen the monetary proof that it is possible. (also possible to build a ground anywhere)
Coventry population - 316,900
Disgruntled, falling fan base. irretrievable relationship with council and some fans.
Dudley (No football team) population - 310,800
Have 1 sh*t team playing 8 rings below the league and they finished bottom.
Croydon (no official football team) population - 330, 688
Next criticism?
That's all well and good but you've completely ignored the wider catchment area of Warwickshire (~550k). There are lots of fans from nuneaton, Bedworth, rugby, kennilworth, leamington and Warwick.
the Clarke interview is here
http://www.coventrytelegraph.net/news/coventry-news/football-league-chief-stay-away-fans-5738925
but how do you give proof of funds when you do not know what is needed ? Do they have to cover £15m in losses ? does the new stadium cost £10m, 25m or 50m? Can they get investors to pay the balance because cant sell what they dont own right now? Is the timescales accurate? Will the funds shown to the league still be there in a year ? Is it all nothing more than a promise again?
that Otium had been “recapitalised” by Sisu-related Cayman Islands-based hedge fund Arvo Master Fund; and that the company could fund the club’s losses while groundsharing.
I cant be arsed to find the interview however, Clark said along the lines of "my accountants have seen the funds to prove they can initially pay 10,000,000 into the stadium borrow the other 15,000,000. also that the club can cover losses for the 3/5 year period" also he said that he didnt know if they would return but his accounts have seen the monetary proof that it is possible. (also possible to build a ground anywhere)
Proof of funds is one thing, actually committing to building a new stadium is another. It is also worth remembering that SISU investment in the club's retail is actually a wheelbarrow.Challenged over precisely what evidence of Otium’s “proof of funds” the League’s board was satisfied with when sanctioning the Northampton groundshare, he said he would have to ask the League’s financial team – and the Telegraph will continue to seek answers on fans’ behalf.
The club had shown the League proof of funds for the cash/equity part of the total costs of building a stadium (potentially more than £10million for a £25m stadium, with the rest borrowed); that Otium had been “recapitalised” by Sisu-related Cayman Islands-based hedge fund Arvo Master Fund; and that the company could fund the club’s losses while groundsharing.
There you go. Black and white. We need a change of direction
Yes but everywhere has wider catchment areas FOR EXAMPLE- Dudley has Stourbridge, Smethwick, Halesowen, harborne etc... I know halesowen has a team but they are not better than Nuneaton Town
Some of you on here are criticising me given my previous stance on the NOPM campaign.
I know we are only 3 games into the new season and no consequence of the campaign will have developed by now however, Greg Clarke has said that his accountants have seen PROOF OF FUNDS to be able to put down an initial £10,000,000 to a new stadium AND funds to cover all losses while we ground share at Northampton. This stance has been echoed by TF and the F.A.
Now for the maths. If we sold out Sixfields every week, to make things easier, lets say 7000 every game for 23 games. Right, at £16 a ticket this would mean revenue of just £2,576,000 this season. Taking away now policing costs, stewarding costs and the rest that figure probably in the region of £750,000 to £1,000,000. That leaves a revenue of around £1,750,000. Compared to the around £50,000,000 they claim to have invested already, that number is pennies.
SISU have maintained that the club is not for sale. here is where my worry is. Without this revenue I think there is more chance of the club franchising and moving away rather than coming home. We all know that SISU have no intention of building a new stadium, they want the Ricoh. The council will not sell to "such an unethical company" and so they shouldnt. So what options does this leave? 1) Franchising the club and moving to a different location 2) Sell the club. Nothing over the past 6 years has suggested to me that SISU will sell the club. Somehow Joy and Tim have convinced their investors to keep investing. They would not suddenly pull the plug after investing so much capital, it just will not happen. If they did choose to sell the price would be astronomical considering their investments into the club, the price tag significantly higher than anyone will be willing to pay.
SISU have not even acknowledged the various protests and campaigns that have surfaced over the past few months. The fans have become divided and the gap between this division is only widening. The fans need some sort of leadership. This should have come from the trust, from the outset. I agree that the KCIC campaign was a good idea however I now see the trust withering away and not attempted to bridge the gap of disgruntled fans. This is why we need a change of direction.
I dont dislike the NOPM campaign by any stretch of the imagination however I feel it can be used as a scapegoat by lazy fans who just think that shouting NOPM will change everything.
We need a new direction, new leadership and begin to unite us fans again. We are much stronger together than we are apart. Arguing amongst ourselves shows us to be a mockery and actually shows SISU are winning. it is basically a carbon copy of Wimbledon/MK Dons.
While I agree we need SISU gone we also need transparency of our club at board level. This is why i suggested attempting to purchase Brody's 4% stake in the club and then to elect a fan rep to sit on the board. At least we have something which we can use as a catalyst to get things done. At least Fisher would have to listen to fans opinions and any wrong doings will be brought to light.
Other than that I suggested a mass pitch invasion Vs Sheffield UTD live on sky, just something to physically affect the runnings of the club in a way that cannot be ignored.
We need to constantly chnage our approach until we find the one that changes things. But firsts things first we need to be united, we need our trust to step up the mark.
I have given you all at least some evidence as why the NOPM campaign will not work, that is more than anything you can give me to suggest it will? other than "companies cannot operate without consumers" yes thats true, but i am 100% sure SISU would rather franchise the club than sell.
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