This is a very thorough investigation into SISU's financial management of the club. It highlights what a bunch of charlatans we have as owners.
http://aprisonofmeasuredtime.wordpress.com/
I know nothing abut the writer, but isn't this exactly the kind of thing the useless hacks at the CET should be doing?
This is a fantastic spot, and a lengthy, but fascinating insight. It also gives a number of VERY VERY important summation quotes imho (not in any order)
1) The Ultimate owner of CCFC is SBSL Ltd. (a SISU company)
2) losses are far smaller than previously claimed
3) CCFC Ltd holds the golden share
4) The interest rate appears very high, around the 25% mark
5) There is no mention of the management fees of £2.6 million (from CCFC Holdings Ltd)
On Wednesday Sisu Evening Telegraph came out with what amounted to a hatchet job. Yet unless this was created between then and now, all this was public record.
It begs the question WHY aren't CET publiching stuff like this?
Could it be because it pretty much kills sisu's claim stone dead in the water?
Certainly the few in the pro-sisu camop are going to have a really hard job defending this - Nearly £3m in management charges? Wonga-style interest rates?
Companies like to have big losses in the tank to allow big offsets of tax on profits in the future. I could be wrong, but it appears my belief that they want to use ccfc and the arena as a sink hole for losses is not far from the truth - if not the EXACT truth.
Cannot wait for the judge to laugh off sisu's whinge out of hand
SISU OUT