sisu buying us out of administration is a good thing (1 Viewer)

[fleebagfisher]

shoot me down if you like but sisu buying the club out of administration through another company they have directors in is a good thing, not bad. why is everyone up in arms? this sort of thing takes place every hour of the day in the world of business, essentially it means the companies creditors are paid off at an affordable rate and we as a club are richer for it.

the aim (and i find it hard to understand fans dismay ) is to make the club financially a better option for buyers. did anyone really thing PH or Bying would buy one part of the club knowing the players, assets and what ever else were divided into other companies that sisu would have bartered hard and long on? don't be so naive fellas.

the club is now one, although it is owned by 4 separate companies. at least now a serious buyer can buy all of the club and assets rather than 1 part of the club.

this is not over, the Chinese if they are serious and Haskell if he was serious (which they obviously were not - otherwise they would have bid seriously which they did not) they will now come back - dealing directly with sisu (no administrator involved ) and will do a deal there is no doubt about that whatsoever.

so calm down.

THE RICOH

if anyone thinks sisu are serious about the ground change they need they're heads looking at. they have played a blinder against the council and acl. ACL are now begging the club to play for free all season,(or are they?). ACL never had any intention of buying the club because of the councils involvement - it would have led to judicial reviews and would have been stopped from happening in central government ... we all have to agree as coventry tax payers to the councils investment into a football club, a football club is not a service no matter how you dress it up.

Acl now wont get anything much, they are with out a massive part of their income, they need ccfc more than ccfc need them. The council have a major roll in the decline of our club and history will eventually show this.

i for one hate the ricoh, i would rather they build a new stadium but in the meantime i believe they will play at the ricoh until they build. We are a 20,000 to 25,000 seater club that is the reality ... the stadium does more for the away teams than it does for us. i will also only go to away games, not because i dislike Walsall ground, but because i stopped going to the morgue that is the ricoh 3 years ago.

i support sisu because they are our owners, they certainly know what they are doing, they need to get a Ray Ranson type figure to run the footballing side of things, but now money has been freed up, we may find a new type of kid on the block very soon.

please do not make any silly remarks, constructed and well thought out arguments/replies are sought and criticism is acceptable.

 

---

[SkyBlueBlood]

shoot me down if you like but sisu buying the club out of administration through another company they have directors in is a good thing, not bad. why is everyone up in arms? this sort of thing takes place every hour of the day in the world of business, essentially it means the companies creditors are paid off at an affordable rate and we as a club are richer for it.

the aim (and i find it hard to understand fans dismay ) is to make the club financially a better option for buyers. did anyone really thing PH or Bying would buy one part of the club knowing the players, assets and what ever else were divided into other companies that sisu would have bartered hard and long on? don't be so naive fellas.

the club is now one, although it is owned by 4 separate companies. at least now a serious buyer can buy all of the club and assets rather than 1 part of the club.

this is not over, the Chinese if they are serious and Haskell if he was serious (which they obviously were not - otherwise they would have bid seriously which they did not) they will now come back - dealing directly with sisu (no administrator involved ) and will do a deal there is no doubt about that whatsoever.

so calm down.

THE RICOH

if anyone thinks sisu are serious about the ground change they need they're heads looking at. they have played a blinder against the council and acl. ACL are now begging the club to play for free all season,(or are they?). ACL never had any intention of buying the club because of the councils involvement - it would have led to judicial reviews and would have been stopped from happening in central government ... we all have to agree as coventry tax payers to the councils investment into a football club, a football club is not a service no matter how you dress it up.

Acl now wont get anything much, they are with out a massive part of their income, they need ccfc more than ccfc need them. The council have a major roll in the decline of our club and history will eventually show this.

i for one hate the ricoh, i would rather they build a new stadium but in the meantime i believe they will play at the ricoh until they build. We are a 20,000 to 25,000 seater club that is the reality ... the stadium does more for the away teams than it does for us. i will also only go to away games, not because i dislike Walsall ground, but because i stopped going to the morgue that is the ricoh 3 years ago.

i support sisu because they are our owners, they certainly know what they are doing, they need to get a Ray Ranson type figure to run the footballing side of things, but now money has been freed up, we may find a new type of kid on the block very soon.

please do not make any silly remarks, constructed and well thought out arguments/replies are sought and criticism is acceptable.

No creditors are paid off. All SISU will do is manouvre fictitious funds to pay one of their companies off with another of their companies, meaning they pay nothing and a higher level of debt gets added to CCFC. Wake up and smell the roses.

Other than that my gun is back in the holster as the other points you make could be right

 

[SkyBlueSwiss]

Consider yourself shot down. SISU did this to cheat their way out of an obligation, and trying to put any other slant on it is just telling porky pies.
Good grief!

 

[fleebagfisher]

“However, the bid from Otium Entertainment Group Limited was substantially more than any of the other three bids received and was the bid which gave the greatest return to the unsecured, non-connected creditors of CCFC Limited by a considerable margin.”

 

[Grendel]

Consider yourself shot down. SISU did this to cheat their way out of an obligation, and trying to put any other slant on it is just telling porky pies.
Good grief!

So are you saying they acted within or outside of the law?

 

[SkyBlueUkeman]

I sort of agree... up to a point:

Why the hell would you want a new stadium? Why would anyone want a new stadium? There were offers on the table for us to buy the Ricoh, and probably will be if Sisu aren't in charge.

The stadium is just one bit of a huge complex. So, the football team aren't playing up there for a few seasons. So what? ACL could capitalize on this by having more concerts in a larger space of time (without worrying about the pitch) and would probably find a way of recouping that side of the business.

Plus, imagine how truly awful a stadium planned an built in 3 years would be?

 

[fleebagfisher]

its not cheating: its business. get used to it, when we sold our souls to the devil (hedge funds are notorious for this sort of thing) we knew what we were taking on. to me it all seems a bit over the top - the hate campaign, to be honest im not sure how they have even been able to keep the club going as long as they have at the loss they run. what your talking about is very very good clever accounting. good on sisu for bucking the council!!!!

 

[fleebagfisher]

sisu have won this battle, beat the council, acl and will continue to do what they do best! we need to get used to it.

 

[italiahorse]

Started off well then lost it on the Stadium issue. Its out of Coventry and its League 1 size.

Unlikely that ACL will allow SISU to use the Stadium without a long term commitment. As I have said before "It's like asking a baker to sell your cakes while building your own Bakers next door"

 

[RegTheDonk]

@fleebagfisher

OK, hear what you are saying, but SISU will now demand a ludicrous fee for the CCFC name and the right to hold the golden share. Nobody ,unless they have serious money to flush down the bog, will want to pay that AND have to buy ALC/Higgs/Compas to make a profit or take the club forward. The golden share would more than likely been awarded to whoever brought Ltd, and if that wasn't SISU they would have been up the creek, paying wages for staff, half probably aren't good enough to want to keep.

They had a Ray Ranson type of bloke to run the footballing side of things, funny enough called Ray Ranson. But chose to ignore him because it meant spending money on players rather than saving money. So he cleared off. The cycle will only be repeated with Ray Ranson MkII.

The Ricoh can be a morgue yes because it lacks atmosphere. Its bigger than HR and we can't fill it. But lets imagine a few years down the road, SISU have sold up and owners with vision and who will invest have us back in the Prem - would you rather still be in a tin-pot 20K shead or a full Ricoh?

 

[skybluegaz2]

Dipstick. If i was ACL I'd sell to a scrapman rather than let SISU get it. Dream on. They have plenty of choices and don't need to go cap in hand to SISU. Bulldoze it for a gasometer if need be.

 

[Sick Boy]

Unlikely that ACL will allow SISU to use the Stadium without a long term commitment.

ACL will be desperate to have the club playing there that they probably won't have any other choice. What else are they going to do with the Arena?

 

[Sick Boy]

They had a Ray Ranson type of bloke to run the footballing side of things, funny enough called Ray Ranson. But chose to ignore him because it meant spending money on players rather than saving money. So he cleared off. The cycle will only be repeated with Ray Ranson MkII.

It's a shame that when he was given money he didn't really achieve anything. He is certainly not the sort of person we should want at our club.

 

[bigfatronssba]

<p>

Started off well then lost it on the Stadium issue. Its out of Coventry and its League 1 size.</p>
<p>&nbsp;</p>
<p>Unlikely that ACL will allow SISU to use the Stadium without a long term commitment. As I have said before &quot;It's like asking a baker to sell your cakes while building your own Bakers next door&quot;

In fairness had sisu paid the rent like they were contractually obliged to then they could have continued playing at the Ricoh for another 3 years and acl wouldn't have been able to stop them.

 

[italiahorse]

<p>

In fairness had sisu paid the rent like they were contractually obliged to then they could have continued playing at the Ricoh for another 3 years and acl wouldn't have been able to stop them.

I believe the contract was for about 50 years.

 

[bigfatronssba]

<p>

I believe the contract was for about 50 years.

Yes but it would seem the contract means nothing to sisu anyway.

 

[Otis]

shoot me down if you like but sisu buying the club out of administration through another company they have directors in is a good thing, not bad. why is everyone up in arms? this sort of thing takes place every hour of the day in the world of business, essentially it means the companies creditors are paid off at an affordable rate and we as a club are richer for it.

the aim (and i find it hard to understand fans dismay ) is to make the club financially a better option for buyers. did anyone really thing PH or Bying would buy one part of the club knowing the players, assets and what ever else were divided into other companies that sisu would have bartered hard and long on? don't be so naive fellas.

the club is now one, although it is owned by 4 separate companies. at least now a serious buyer can buy all of the club and assets rather than 1 part of the club.

this is not over, the Chinese if they are serious and Haskell if he was serious (which they obviously were not - otherwise they would have bid seriously which they did not) they will now come back - dealing directly with sisu (no administrator involved ) and will do a deal there is no doubt about that whatsoever.

so calm down.

THE RICOH

if anyone thinks sisu are serious about the ground change they need they're heads looking at. they have played a blinder against the council and acl. ACL are now begging the club to play for free all season,(or are they?). ACL never had any intention of buying the club because of the councils involvement - it would have led to judicial reviews and would have been stopped from happening in central government ... we all have to agree as coventry tax payers to the councils investment into a football club, a football club is not a service no matter how you dress it up.

Acl now wont get anything much, they are with out a massive part of their income, they need ccfc more than ccfc need them. The council have a major roll in the decline of our club and history will eventually show this.

i for one hate the ricoh, i would rather they build a new stadium but in the meantime i believe they will play at the ricoh until they build. We are a 20,000 to 25,000 seater club that is the reality ... the stadium does more for the away teams than it does for us. i will also only go to away games, not because i dislike Walsall ground, but because i stopped going to the morgue that is the ricoh 3 years ago.

i support sisu because they are our owners, they certainly know what they are doing, they need to get a Ray Ranson type figure to run the footballing side of things, but now money has been freed up, we may find a new type of kid on the block very soon.

please do not make any silly remarks, constructed and well thought out arguments/replies are sought and criticism is acceptable.

I too thought you were doing okay until mention of the stadium.

We get high end of the Championship or in the Premier we will be so much more than a 20,000 - 25,000 seater stadium club.

The Ricoh is one of the finest grounds in the country. Nowt wrong with it apart from the lack of atmosphere and that has everything to do with the attendances and nowt to do with the stadium.

I still vehemently argue that moving away for 3 years or building a completely new stadium is nothing short of complete madness.

You think the Ricoh is bad, wait til you get into the smaller, cheap build, rush job effort should it ever come to fruition.

 

[Black6Osprey]

I will also only go to away games, not because i dislike Walsall ground, but because i stopped going to the morgue that is the ricoh 3 years ago.

I support sisu because they are our owners, they certainly know what they are doing, they need to get a Ray Ranson type figure to run the footballing side of things, but now money has been freed up, we may find a new type of kid on the block very soon.

You haven't been to a home game in 3 years but support SISU because they are our owners and they know what they are doing?

Mmmm.... I don't really know where you are coming from. We are mid table in league 1, our lowest ever position, with an ever dwindling fan base, worsening team and owners who have overseen this meteoric balls up. The fact you don't go to home games is probably the only sensible comment you made, as I think we would all like to knock it on the head if we could but most of us have continued to support the team throughout the last few years of shit, while you were seemingly at home.

 

[RegTheDonk]

It's a shame that when he was given money he didn't really achieve anything. He is certainly not the sort of person we should want at our club.

You mean like bringing in Scott and Dann, and then threatening to quit when they were sold on? Cut corners SISU, that'll get us promoted. :facepalm:

 

[SkyBlueUkeman]

You mean like bringing in Scott and Dann, and then threatening to quit when they were sold on? Cut corners SISU, that'll get us promoted. :facepalm:

Scott and Dann. Lolz.

 

[diggerdaley]

I suggest to keep the Ricoh ticking over with the school holidays coming up ,why not create a crazy golf circuit on the pitch with kids entertainment ,charge £5 a day per kid ,car boot on weekend, anything to make money to stop the scumbags getting hold of the stadium.

 

[Sbsam]

its not cheating: its business. get used to it, when we sold our souls to the devil (hedge funds are notorious for this sort of thing) we knew what we were taking on. to me it all seems a bit over the top - the hate campaign, to be honest im not sure how they have even been able to keep the club going as long as they have at the loss they run. what your talking about is very very good clever accounting. good on sisu for bucking the council!!!!

The hate campaign? I think the fact we are a league below when the took over plus the running of the club is an embarrassment. As to the earlier comment a out there bid being excessive to the rest. The administrator had to act in the best interest of the creditors. Sisu are the main creditor therefore the bid is just write off part of the debts or manoeuvre them to another company!

Sisu are a total joke and I will not be renewing my season ticket for the first time in 15 years!

 

[DaleM]

If starting next season with a points deduction, no ground and certain relegation to league 2 with a view, in the next couple of year to " doin' a Luton" and dropping into the Conference is a good thing then support away.:jerkit:

 

[@richh87]

So are you saying they acted within or outside of the law?

Why?

Stop trying to justify what they're doing to this football club you oddball.

 

[fleebagfisher]

I too thought you were doing okay until mention of the stadium.

We get high end of the Championship or in the Premier we will be so much more than a 20,000 - 25,000 seater stadium club.

The Ricoh is one of the finest grounds in the country. Nowt wrong with it apart from the lack of atmosphere and that has everything to do with the attendances and nowt to do with the stadium.

I still vehemently argue that moving away for 3 years or building a completely new stadium is nothing short of complete madness.

You think the Ricoh is bad, wait til you get into the smaller, cheap build, rush job effort should it ever come to fruition.

The Ricoh is far from being one of the finest grounds in the country. its too big for us. the atmosphere is like a non league friendly due to it being too big for us. it is too expensive to hire, it is not "our ground" we rent it. the buiding is magnificent but the ground is terrible, the stand with the press and the boxes is a complete embarrassment, the pitch is done for, the shape is hard on the eys and the fact it is designed to have the sun blare in our eyes is dated. the cashless payment for foods is a complete nightmare, the shop is overpirced, and the tickets are wildly overpriced. parking is a complete nightmare, leaving the ground in a car is a 30 minute job, the disabled are not looked after as nor our the children. the overall match day experience at the Ricoh is a nightmare. its why we have 10000 fans now and 15 thousand drop offs.

you can blame the owners as much as you want but the truth is if you really look preperly at the ins and outs at the club the owners have bought good players who came for a meal ticket, they let us down, it was the players combined with the stadium being a positive for the visiting sides that let to our on the pitch downfall.

7 wins at the ricoh last season, we had good players for that league, no excuses they should have done better, top 6 at least, how do sisu get the blame for poor results. if its not the owners its the players, a lot of our fans just want someone to blame, it is here i will remind those of you about the owner of Newcastle and how their fans hated their owner... then hes the best thing since sliced bread.

our owners have just got away with not paying out £70 million and been able to stuff the council to, we should applaud them and look forward to our new ground realistically built to fit us, and a good deal of investment on the pitch over the next 3 years. its exciting times !

 

[skyblue.boycie]

The Ricoh is far from being one of the finest grounds in the country. its too big for us. the atmosphere is like a non league friendly due to it being too big for us. it is too expensive to hire, it is not "our ground" we rent it. the buiding is magnificent but the ground is terrible, the stand with the press and the boxes is a complete embarrassment, the pitch is done for, the shape is hard on the eys and the fact it is designed to have the sun blare in our eyes is dated. the cashless payment for foods is a complete nightmare, the shop is overpirced, and the tickets are wildly overpriced. parking is a complete nightmare, leaving the ground in a car is a 30 minute job, the disabled are not looked after as nor our the children. the overall match day experience at the Ricoh is a nightmare. its why we have 10000 fans now and 15 thousand drop offs.

you can blame the owners as much as you want but the truth is if you really look preperly at the ins and outs at the club the owners have bought good players who came for a meal ticket, they let us down, it was the players combined with the stadium being a positive for the visiting sides that let to our on the pitch downfall.

7 wins at the ricoh last season, we had good players for that league, no excuses they should have done better, top 6 at least, how do sisu get the blame for poor results. if its not the owners its the players, a lot of our fans just want someone to blame, it is here i will remind those of you about the owner of Newcastle and how their fans hated their owner... then hes the best thing since sliced bread.

our owners have just got away with not paying out £70 million and been able to stuff the council to, we should applaud them and look forward to our new ground realistically built to fit us, and a good deal of investment on the pitch over the next 3 years. its exciting times !

Well you enjoy your exciting times with the wankers happy to support Sisu & their derivatives as they continue to destroy our club.

 

[oakey]

On a simple level why is the club making annual losses?
Income must be greater than expenditure unless we are servicing loans. If so, why did Fisher say we are debt-free?
Can anyone give simple income and expenditure accounts? Income £5-6 million? Wages and operating costs 3-4 million? The rest must be managing debt and management fees.

 

[Sbsam]

The Ricoh is far from being one of the finest grounds in the country. its too big for us. the atmosphere is like a non league friendly due to it being too big for us. it is too expensive to hire, it is not "our ground" we rent it. the buiding is magnificent but the ground is terrible, the stand with the press and the boxes is a complete embarrassment, the pitch is done for, the shape is hard on the eys and the fact it is designed to have the sun blare in our eyes is dated. the cashless payment for foods is a complete nightmare, the shop is overpirced, and the tickets are wildly overpriced. parking is a complete nightmare, leaving the ground in a car is a 30 minute job, the disabled are not looked after as nor our the children. the overall match day experience at the Ricoh is a nightmare. its why we have 10000 fans now and 15 thousand drop offs.

you can blame the owners as much as you want but the truth is if you really look preperly at the ins and outs at the club the owners have bought good players who came for a meal ticket, they let us down, it was the players combined with the stadium being a positive for the visiting sides that let to our on the pitch downfall.

7 wins at the ricoh last season, we had good players for that league, no excuses they should have done better, top 6 at least, how do sisu get the blame for poor results. if its not the owners its the players, a lot of our fans just want someone to blame, it is here i will remind those of you about the owner of Newcastle and how their fans hated their owner... then hes the best thing since sliced bread.

our owners have just got away with not paying out £70 million and been able to stuff the council to, we should applaud them and look forward to our new ground realistically built to fit us, and a good deal of investment on the pitch over the next 3 years. its exciting times !

You are a moron - fact!

 

[RegTheDonk]

Scott and Dann. Lolz.

Hehe ... its been a long day, allow me a typo

 

[fleebagfisher]

On a simple level why is the club making annual losses?
Income must be greater than expenditure unless we are servicing loans. If so, why did Fisher say we are debt-free?
Can anyone give simple income and expenditure accounts? Income £5-6 million? Wages and operating costs 3-4 million? The rest must be managing debt and management fees.

well we are debt free now. look the truth is this is business, fans are getting worked up understandably but the fact is none of us know what is going on behind the scenes, and particularly the trash we read in the local rag. city are being run by a seriously clever set of individuals who are looking to make a profit on selling the club, bit by bit they are getting they're. the big mistake was the silly council thinking they could take the likes of a venture group and come out winning. who do fans believe have the money to plough into these gamblers? its the rich judges, accountants, bankers, investors, usually persons with huge knowledge of business, law and avoidance!! sisu are backed by owners of successful lives and companies... these people do not get beat, they cover their tracks. next fans will be saying the FA will refuse the sale! the FA cant .. they do not have the jurisdiction. you may hate Sisu but give credit where credit is due, like Thatcher no one liked her at the time, but now everyone says she was their best friend and how magestic she was as prime minister. One day we will sit in our new 25,000 seater stadium watching premier league teams and being in the top half.. then you will hear fans saying "" oh its a good job we kept hold of sisu"" youll see

one more thing if we do not build a new stadium .. i guarantee we have the ricoh on a £150,000 a year contract agreed in the next 2 weeks.

sisu batter acl and the council again. 2 years down the line it will be ACL demanding a rent rise now we are touching the tip of the premier league. its business.

 

[cloughie]

The Ricoh is far from being one of the finest grounds in the country. its too big for us. the atmosphere is like a non league friendly due to it being too big for us. it is too expensive to hire, it is not "our ground" we rent it. the buiding is magnificent but the ground is terrible, the stand with the press and the boxes is a complete embarrassment, the pitch is done for, the shape is hard on the eys and the fact it is designed to have the sun blare in our eyes is dated. the cashless payment for foods is a complete nightmare, the shop is overpirced, and the tickets are wildly overpriced. parking is a complete nightmare, leaving the ground in a car is a 30 minute job, the disabled are not looked after as nor our the children. the overall match day experience at the Ricoh is a nightmare. its why we have 10000 fans now and 15 thousand drop offs.

you can blame the owners as much as you want but the truth is if you really look preperly at the ins and outs at the club the owners have bought good players who came for a meal ticket, they let us down, it was the players combined with the stadium being a positive for the visiting sides that let to our on the pitch downfall.

7 wins at the ricoh last season, we had good players for that league, no excuses they should have done better, top 6 at least, how do sisu get the blame for poor results. if its not the owners its the players, a lot of our fans just want someone to blame, it is here i will remind those of you about the owner of Newcastle and how their fans hated their owner... then hes the best thing since sliced bread.

our owners have just got away with not paying out £70 million and been able to stuff the council to, we should applaud them and look forward to our new ground realistically built to fit us, and a good deal of investment on the pitch over the next 3 years. its exciting times !

You are obviously a WUM or just plain thick

I have to chuckle at 'they have got away without paying out £70 milllion'

They have haven't they got away without paying themselves £70 million

 

[CarpyCov84]

Mate your talking total SHITE !!!

 

[Cov City Daytrader 87]

I'm surprised Valient hasn't come on to give a piece of their mind on the op.

 

[Delboycov]

well we are debt free now. look the truth is this is business, fans are getting worked up understandably but the fact is none of us know what is going on behind the scenes, and particularly the trash we read in the local rag. city are being run by a seriously clever set of individuals who are looking to make a profit on selling the club, bit by bit they are getting they're. the big mistake was the silly council thinking they could take the likes of a venture group and come out winning. who do fans believe have the money to plough into these gamblers? its the rich judges, accountants, bankers, investors, usually persons with huge knowledge of business, law and avoidance!! sisu are backed by owners of successful lives and companies... these people do not get beat, they cover their tracks. next fans will be saying the FA will refuse the sale! the FA cant .. they do not have the jurisdiction. you may hate Sisu but give credit where credit is due, like Thatcher no one liked her at the time, but now everyone says she was their best friend and how magestic she was as prime minister. One day we will sit in our new 25,000 seater stadium watching premier league teams and being in the top half.. then you will hear fans saying "" oh its a good job we kept hold of sisu"" youll see

one more thing if we do not build a new stadium .. i guarantee we have the ricoh on a £150,000 a year contract agreed in the next 2 weeks.

sisu batter acl and the council again. 2 years down the line it will be ACL demanding a rent rise now we are touching the tip of the premier league. its business.

Your complete delusion was confirmed when you said Thatcher was everybody's best friend and was seen as majestic when she died. No she wasn't! There were protests all round the UK and quite a bit of rioting. How out of touch is it possible for one person to be? Can't take any of your pro SISU drivel seriously after that....

 

[Cov City Daytrader 87]

You are obviously a WUM or just plain thick

Former beside I don't think they voted on the 'Your verdict' poll.