Sisu In (1 Viewer)

[coundonskyblue]

Can the few people on here who are happy to stick with Sisu give us the reasons why?

We are all entitled to our own opinions, but I just want to understand how you think we can progress with Sisu, because I cant see how it's possible at all.

 

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[Moff]

Is it because Brody is as entertaining as Chemical Ali was in Iraq??

:blue::blue::blue::blue:

 

[kdrinkell]

I just want to understand how you think we can progress with Sisu, because I cant see how it's possible at all.

Thats because it simply cannot continue under their reign,they were seen as saviours but in reality they are asset strippers

 

[PhilWasn'tBabb]

Well, as I understand there is no formal bid on the table at this stage, by the sound of it that might change sometime next week (if they have some head note paper)

At this stage SISU are the only option. Trying to see it from their point of view they were not in it for the long haul, they wanted to get us up and sell us, I'm sure their investors are more than starting to get cold feet seeing as we were losing 500k ish a month and we've not once been anywhere near getting up.

Now I say this with a degree of caution, its all very well blaming SISU and past owners for all our ills, BUT .. its not like the people of coventry have done much to show their very interested in having a football team. Its very easy to say there's not been much to watch in the last 10 years but even before that we weren't filling highfield road week in week out.

Having a bad period didn't really effect the likes of Leeds, Man city and I shudder to say it Leicester in terms of people turning up and paying there money.

(I have to admit I'm part of the problem having never been back for a home game since we left Highfield road)

 

[Mary_Mungo_Midge]

For the purposes of clarify, I wonder if we can bottom whether there actually was a formal bid?

Previously, Orange Ken seemed to insinuate there had been a written bid, but that it wasn't in a format agreeable to him. Did he discussed headed paper, or it being signed or something? Then yesterday, when not pushed sufficiently by the CWR interviewer for me, he almost acknowledged that there had been a bid, but that due to it's value he dismissed it out of hand. This being the £1 value. For me, I'd have liked him pressed on this. Has there been a bid, was it rejected due to value or format, etc.? With the greatest of respect, lapse journalism to allow him to squirm away from direct answers when his poor choice of words had placed in on the ropes

 

[skybluesteve76]

Im very much in the Sisu out camp but without them we may not even have a team to support anymore, also Hoffmans starting to get on my tits slightly...all mouth and no trousers at the minute. JE also annoys me slightly because he was the one that invited them into our club in the first place.
Saying all that, we will never have any hopes of rebuilding until Sisu leave. But let's get real.....why would Sisu sell for a pound without recouping any money they've ploughed in.

 

[Mary_Mungo_Midge]

Im very much in the Sisu out camp but without them we may not even have a team to support anymore, also Hoffmans starting to get on my tits slightly...all mouth and no trousers at the minute. JE also annoys me slightly because he was the one that invited them into our club in the first place.
Saying all that, we will never have any hopes of rebuilding until Sisu leave. But let's get real.....why would Sisu sell for a pound without recouping any money they've ploughed in.

The market value of any asset (if such terminology can be employed in any fashion with regards CCFC) is dictated by the market. They will get what the open market deems it's worth. They took a gamble and lost. They have to face up to the reality of their losses and realise that their continued presence is to the detriment of the football club, and their own balance sheet.

The financial world's mantra: 'Please remember the value of your investment can go down as well as up...'

 

[PhilWasn'tBabb]

I believe, it was a £1 plus all the money they've put in if we go up in 3 years, much the same as the offer Sisu made when they were taking over.

I don't think there going to let themselves get burned like that lol

 

[PhilWasn'tBabb]

The market value of any asset (if such terminology can be employed in any fashion with regards CCFC) is dictated by the market. They will get what the open market deems it's worth. They took a gamble and lost. They have to face up to the reality of their losses and realise that their continued presence is to the detriment of the football club, and their own balance sheet.

The financial world's mantra: 'Please remember the value of your investment can go down as well as up...'

This is true, but there current sticking to the party line that the club is not for sale.... so the value is whatever they fancy

 

[kdrinkell]

Im very much in the Sisu out camp but without them we may not even have a team to support anymore

Your having a laugh,this is a lingering death in my eyes when we needed input from them they were silent and we plummeted

why would Sisu sell for a pound without recouping any money they've ploughed in.

If its costing them 125 grand a week then thats 6 million in a year and thats not taking into consideration the close season so no ticket revenue so thats why they should piss off

 

[Godiva]

If its costing them 125 grand a week then thats 25 million in a year and thats not taking into consideration the close season so no ticket revenue so thats why they should piss off

I think your calculator needs new batteries.

And please consider the difference between losses including and excluding player amortization and asset depreciation.

 

[PhilWasn'tBabb]

I think, they think they've put in too much to just walk away, can you just wright off 30 ish million. As it is, is a case of good money after bad.

 

[kdrinkell]

I think your calculator needs new batteries.

yes it does indeed Doh!

6 million then

 

[kdrinkell]

I think, they think they've put in too much to just walk away, can you just right off 30 ish million. As it is, is a case of good money after bad.

Don't they get wages ? what about the re-mortgage of Ryton Lodge,was the half a million found ? And anyway they are in a sinking hole so investors won't be happy.

 

[oldskyblue58]

Think we are getting a lot of things mixed up here

1) The shares in CCFC may well be worthless or £1 but are they the ones for sale or is it the shares in Skyblue Sports & Leisure which has a stronger balance sheet? That particular balance sheet having been improved since 31/05/10 by the profit on the sale of Prozone. So deduct the deficit from the SISU loan and that leaves worth in it for SISU (and thats before valueing the squad properly)

2) they can buy the shares for £1 but the loans will still remain unless agreement for settlement is arrived at. Those loans do not change in value so the premise that the value of investments rise and value is irrelevant

3) ask yourself and answer honestly if you had made a loan to somebody would you write it off before exhausting each and every alternative for recovery - correct answer is no of course you wouldnt. Why expect, as many do here, that SISU should.

4) I am going to be surprised if current losses are £500k pm or £6m per year - considering that the club has made substantial savings in wage costs (getting on for £2m per year i would guess) and that the amortisation of player contracts will have been greatly reduced because we dont have many players that actually cost us much and those that did are fee agents come May (with a few exceptions-eg Juke). As a rough estimate losses are about half that and losses are not the same as cashflow so SISU do not finance all the loss

We as fans like to think that SISU will write off £30m and sell for the £1 but the reality is not necessarily the same or even that straight forward.

Bottom line is that these negotiations have nothing at all to do with the value of CCFC as an investment - it is all about how the loans are settled.

It would be a mistake to under estimate SISU and assume, like some here do, that SISU are complete idiots. It would also be a mistake to assume that all options are not available to SISU or that they are afraid to take some of the least palatable options. These people are used to these situations (not used to the fan reaction admittedly) it is their core business with which they have in the past made £millions of profit a year. They never bought into CCFC for the long term it isnt what they do but they wont go until they are ready to (how ever much we encourage or want them to)

This will not be settled for some time - and we may not get the settlement many here seem to want.

 

[SkyBlueScottie]

I dont understand what they are up to, they seem to have destroyed any chance they had of the club progressing by insisting on the sales of certain players at the first sniff of any interest, they seem to be strangling the club of any hope by not providing sufficient funds for which they to stay in this league, let alone compete at the sharp end.

They have remortgaged everything that they can.

They are failing to bring in new money, we seem to have 1 serious group willing to give them a shot at getting some of their cash back but seem too want to irritate them at every oppurtunity. They must realise that their dream to purchase part of the stadium is dead as the council will seemingly veto them as potential owners.

 

[AFCCOVENTRY]

Is it because Brody is as entertaining as Chemical Ali was in Iraq??

:blue::blue::blue::blue:

they are the same person? imp:

 

[kdrinkell]

they wont go until they are ready to (how ever much we encourage or want them to

I think you underestimate fan power,if someone was to say throw sky blue paint at Orange Glow Ken (talking hyperthetically here) and when questioned they said it was a disgrace what Sisu are doing to my beloved club,would this not do two things 1) Get stacks of negative media coverage for Sisu 2) Impact their share price

 

[Monkeyface]

As ever a sensible and well thought out post OSB, although I would say in reference to your question asking if 'you had lent somebody money' it's not quite the same, as the money was not lent as a gesture of good will, but as an atempt to make money from the loan. But again your right in saying they can be expected to explore all other avenues first.

Think we are getting a lot of things mixed up here

1) The shares in CCFC may well be worthless or £1 but are they the ones for sale or is it the shares in Skyblue Sports & Leisure which has a stronger balance sheet? That particular balance sheet having been improved since 31/05/10 by the profit on the sale of Prozone. So deduct the deficit from the SISU loan and that leaves worth in it for SISU (and thats before valueing the squad properly)

2) they can buy the shares for £1 but the loans will still remain unless agreement for settlement is arrived at. Those loans do not change in value so the premise that the value of investments rise and value is irrelevant

3) ask yourself and answer honestly if you had made a loan to somebody would you write it off before exhausting each and every alternative for recovery - correct answer is no of course you wouldnt. Why expect, as many do here, that SISU should.

4) I am going to be surprised if current losses are £500k pm or £6m per year - considering that the club has made substantial savings in wage costs (getting on for £2m per year i would guess) and that the amortisation of player contracts will have been greatly reduced because we dont have many players that actually cost us much and those that did are fee agents come May (with a few exceptions-eg Juke). As a rough estimate losses are about half that and losses are not the same as cashflow so SISU do not finance all the loss

We as fans like to think that SISU will write off £30m and sell for the £1 but the reality is not necessarily the same or even that straight forward.

Bottom line is that these negotiations have nothing at all to do with the value of CCFC as an investment - it is all about how the loans are settled.

It would be a mistake to under estimate SISU and assume, like some here do, that SISU are complete idiots. It would also be a mistake to assume that all options are not available to SISU or that they are afraid to take some of the least palatable options. These people are used to these situations (not used to the fan reaction admittedly) it is their core business with which they have in the past made £millions of profit a year. They never bought into CCFC for the long term it isnt what they do but they wont go until they are ready to (how ever much we encourage or want them to)

This will not be settled for some time - and we may not get the settlement many here seem to want.

 

[JGazebo]

There is no other option for us, sadly. Hoffman appears to be a man of straw (would be happy if he wasn't).

Mike Ashley is still trying to sell Newcastle, and they would be a far more attractive investment than us.