SISU HAVE BID for CCFC ltd (1 Viewer)

Forums New posts
covhead1

covhead1

Well-Known Member
SISU Capital Make Bid
SISU Capital have made an indicative bid for CCFC Ltd.
Tim Fisher, speaking at the Second Fans Forum at the Holiday Inn, confirmed that they had made a bid for CCFC Ltd to the Administrator before the bidding closed at 5pm today.
Mr Fisher, refused to say how much SISU had bid citing it being commercially sensitive but added: “We have to pull back the components of the football club and bring the club out of administration.”
You can hear the forum by clicking on http://www.bbc.co.uk/programmes/p01b1r1k
 
A

ampthill_sba

New Member
I assume that bids are 'sealed bids' and so if SISU in their arrogance go in too low, one of the other bidders could become the preferred...
 
Grendel

Grendel

Well-Known Member
ampthill_sba said:
I assume that bids are 'sealed bids' and so if SISU in their arrogance go in too low, one of the other bidders could become the preferred...
Click to expand...

I think we can safely say it will be by far the best bid. That was very obvious in the forum.
 
Samo

Samo

Well-Known Member
The Penguin said:
But why bother, it's worthless! :confused:
Click to expand...

Yep, worthless. According to TF Holdings are the club, Holdings has the share, there is nothing in Ltd and it's business as usual. So... why on earth would they want to buy Ltd? I can smell the bullshit from here. Who the fuck do they think they are kidding?
 
singers_pore

singers_pore

Well-Known Member
I think we can safely say SISU's will be by far the worst bid although it will also be the highest due to the debts they have fabricated. A simple debt to equity swap will mean they remain in place in the short term. But they may well go back to one of the other bidders after the admin is finished. Clearly Fisher was lying when he said the club is not for sale. Everything is for sale at the right price.
 
S

SkyblueBazza

Well-Known Member
Didn't they already have full control of the club before they put CCFC Ltd into admin?
All they did not have was a clean slate because they owed lots to ACL for use of the Ricoh. Now they would have everything bar a place to play &, if one believes posters on this & other forums/media, about 3000 fans.
 
Samo

Samo

Well-Known Member
Grendel said:
I think we can safely say it will be by far the best bid. That was very obvious in the forum.
Click to expand...

It will be the highest bid but maybe not the best. Creditors are not the Admin's only duty, he should be securing the best deal for the business moving forward.
 
J

jon92

New Member
But now CCFC ltd is up for sale if another party brought it they wouldn't have full ownership and just own the other part
 
Grendel

Grendel

Well-Known Member
Samo said:
It will be the highest bid but maybe not the best. Creditors are not the Admin's only duty, he should be securing the best deal for the business moving forward.
Click to expand...

They will be offering to repay the main "creditor" in full. By Monday they will have total ownership. It would be a very brave administrator to say no.
 
J

Jack Griffin

Guest
The loyalty of the fans is the prime asset the club has & SISU have pretty much lost that asset.
 
Q

quinn1971

Well-Known Member
Grendel said:
They will be offering to repay the main "creditor" in full. By Monday they will have total ownership. It would be a very brave administrator to say no.
Click to expand...


By Monday! !!!!!! That's quick . isn't there a creditors meeting on Friday?how would they work out how much would be owed to acl in outstanding rent.?
 
Last edited:
Samo

Samo

Well-Known Member
Grendel said:
They will be offering to repay the main "creditor" in full. By Monday they will have total ownership. It would be a very brave administrator to say no.
Click to expand...

Yes it would... and I am hoping against what common sense tells me that there may be some another outcome. Who can say what may be going on in private?
 
Bill Glazier

Bill Glazier

Active Member
Samo said:
It will be the highest bid but maybe not the best. Creditors are not the Admin's only duty, he should be securing the best deal for the business moving forward.
Click to expand...

Well in that case we must make it crystal clear that none of us will give SISU a single penny more. No customers means no business moving forward.
 
Mary_Mungo_Midge

Mary_Mungo_Midge

Well-Known Member
Grendel said:
They will be offering to repay the main "creditor" in full. By Monday they will have total ownership. It would be a very brave administrator to say no.
Click to expand...

Alas, I fear for the second time this morning, you are correct. Your timing might be a touch ambitious, but I agree with your prognosis
 
Grendel

Grendel

Well-Known Member
Mary_Mungo_Midge said:
Alas, I fear for the second time this morning, you are correct. Your timing might be a touch ambitious, but I agree with your prognosis
Click to expand...

It may not be Monday but fisher let that cat out the bag last night. He is enjoying the game whatever the game is.
 
R

rupert_bear

Well-Known Member
Grendel said:
It may not be Monday but fisher let that cat out the bag last night. He is enjoying the game whatever the game is.
Click to expand...
You may be correct about the administator, but another thing he has to consider is the business going forward in these cases the highest bidder isn't always successful. The issue of the Golden Share is important and could influence any decision because without it the business cannot go forward, whether past issues such as not doing the accounts on time year on year and the general running of the business, debt etc. has a bearing who knows and of course the where do we play situation and with that the 10 year guarantee the Football League demand as to where we play. Looking from the outside in i would say sisu have a bit to do to succeed
 
Grendel

Grendel

Well-Known Member
rupert_bear said:
You may be correct about the administator, but another thing he has to consider is the business going forward in these cases the highest bidder isn't always successful. The issue of the Golden Share is important and could influence any decision because without it the business cannot go forward, whether past issues such as not doing the accounts on time year on year and the general running of the business, debt etc. has a bearing who knows and of course the where do we play situation and with that the 10 year guarantee the Football League demand as to where we play. Looking from the outside in i would say sisu have a bit to do to succeed
Click to expand...

The football league I am sure will be advising the administrator that they have approved sisu's plans going forward. It's a done deal.
 
Q

quinn1971

Well-Known Member
Grendel said:
The football league I am sure will be advising the administrator that they have approved sisu's plans going forward. It's a done deal.
Click to expand...

If that's the case...which I dont think it will be..The administration rules will have to be changed.So a club can run up millions in debts.walk out on rent agreements. Move football clubs from their homes and all they'll get is -10 pts and a slap on the wrist.
 
Samo

Samo

Well-Known Member
quinn1971 said:
If that's the case...which I dont think it will be..The administration rules will have to be changed.So a club can run up millions in debts.walk out on rent agreements. Move football clubs from their homes and all they'll get is -10 pts and a slap on the wrist.
Click to expand...

And the liscence to do it all again!
 
grego_gee

grego_gee

New Member
99% of the successful bid will be paid to SISU!
My guess is they will put in a bid that will act like a reserved price!
It will cost them only 1% of whatever they bid - it does not cost them anything to pay themselves the rest!
I would guess they will bid over the £45m they have put in themselves plus a small fraction of the remaining inherited debt.
Somewhere round £50m, 1% would go to ACL 500k
If anyone bids more they would have already paid £50m to SISU and still need to negotiate for the assets in holdings.
I doubt if any other bidders would have bid without already having negotiated with SISU for holdings.

:pimp:
 
Grendel

Grendel

Well-Known Member
quinn1971 said:
If that's the case...which I dont think it will be..The administration rules will have to be changed.So a club can run up millions in debts.walk out on rent agreements. Move football clubs from their homes and all they'll get is -10 pts and a slap on the wrist.
Click to expand...

The league will want fixtures fulfilled. Sisu are fit and proper owners as they give them no trouble in that regard. Please don't be naive. Ronnie Biggs would pass the fit and proper test.
 
Samo

Samo

Well-Known Member
Grendel said:
The league will want fixtures fulfilled. Sisu are fit and proper owners as they give them no trouble in that regard. Please don't be naive. Ronnie Biggs would pass the fit and proper test.
Click to expand...

No trouble in that regard? As we stand they cannot tell the FL where we will be playing come August. Or, more importantly, in 3 years time.
 
Q

quinn1971

Well-Known Member
Grendel said:
The league will want fixtures fulfilled. Sisu are fit and proper owners as they give them no trouble in that regard. Please don't be naive. Ronnie Biggs would pass the fit and proper test.
Click to expand...

It's not being naive....there's alot more going on than you understand. ..it won't be that simple.
 
C

Chipfat

Well-Known Member
Sisu have this wrapped up so certain people on here will happily celebrate that the same people that have ran this club so poorly have the chance again..Me i'm out, if these people are given control don't believe them don't trust them and certainly don't care for them or the desire to take the club out of the city...
 
R

rupert_bear

Well-Known Member
Trust me this is a long way from a done deal for sisu, lots of hurdles to jump, time deadlines etc. for them, they may do it but equally they may not.
 
You must log in or register to reply here.

Users who are viewing this thread

Total: 2 (members: 0, guests: 2)
Top