The two things are not mutually exclusive.
packaged club for £25m
Frankly, would you buy half a stadium company and a slightly shitty football team for that much? (and SISU are renowned for not compromising when they get into this mode, so £30mil may indeed be a more likely figure).
I can't see any sane reason to do so, or any opportunity that comes from that, can you?
Didnt appleton say the creditors would be paid in full which is why he accepted the SISU bid?
How is it the best deal for the creditors when Haskell said he'd made a generous offer for SISUs debt and SISU will just wipe the debt clean? As a creditor SISU get nothing? Surely even if Haskell was offering just 1p per pound its a better deal for the debt?
OSB-how do SISU justify to their investors the need to put in tens of millions of pounds to build a football stadium on top of all that has gone in?
OSB-how do SISU justify to their investors the need to put in tens of millions of pounds to build a football stadium on top of all that has gone in?
I have no idea BSB ........... SISU appear to be the only ones that think the figures in doing so stack up
OSB, what happens if ACL refuse CVA? Can the court force them?
I would have thought a court has the power to impose a solution but it would involve further time in court arguing it.
ACL in a difficult place - if they reject it then they will be portrayed as as anti CCFC and putting the club at risk of liquidation. If they accept it then they take a large financial loss and the club moves away from the city (until such time as ACL is weakened enough for SISU to try muscle way back or the supposed new stadium built).
Will that financial pressure be enough to put ACL at risk though? CCFC is probably now less than 10% of its income can any of that 10% be made up in any way ? Are their alternatives to CCFC that put a hole in the reduced footfall ? - need to find say 225,000 more visitors to compensate for the loss of CCFC footfall. So if ACL believe they can do that then they could accept the CVA, stop paying out legals etc and move on, that might make things difficult for SISU instead
Also ACL will be keen to have the directors actions investigated which happens after CVA agreed. That might lead to to ACL claims against directors and shadow directors. Plus I would guess they are also taking action against the guarantors of the escrow account. As always the decisions are never clear or easy
ACL options
accept the CVA, take the £600k, move on
accept CVA take the £600k and do some deal with SISU for club to be there (actually think this wont happen)
reject the CVA and administrator puts club in to liquidation - ACL get the blame
reject the CVA but deal is imposed by court and club gets further penalty - ACL get the blame
personally i would go with the first option - go with an immediate future without CCFC but always leave the door open to a possible return in a season or two (due to having to get usage from the stadium bowl the club might have to share its use of the stadium with other events in an interim return period until they can commit to a new long term lease)
Always assuming there really is a plan to build a stadium, rather than just a PR campaign to put pressure on ACL!
Guilfoyle said that Otium bid the most, so how serious we're the other bidders? Not very perhaps.
I'm aware of that, as are most people.
But surely, the other bidders bid more than 1.5m, but it wouldn't appear so because Otium bid the most (according to Guilfoyle) so...
I'm aware of that, as are most people.
But surely, the other bidders bid more than 1.5m, but it wouldn't appear so because Otium bid the most (according to Guilfoyle) so...
I'm sure you have plenty of evidence to back up this sweeping statement, well?
I'm aware of that, as are most people.
But surely, the other bidders bid more than 1.5m, but it wouldn't appear so because Otium bid the most (according to Guilfoyle) so...
I'm sure you have plenty of evidence to back up this sweeping statement, well?
'That SISU have been planning this for at least a year'.
'SISU have been planning for this for over a year now.'
That doesn't mean this was a coherent plan, it could be a product of circumstances they found themselves in.
Not sure why you would transfer the trade out of one limited company into another unless it was part of a plan.
That doesn't mean this was a coherent plan, it could be a product of circumstances they found themselves in.
That doesn't mean this was a coherent plan, it could be a product of circumstances they found themselves in.
No, where you have quoted me was regarding Otium and SISU writing debt off etc. not the master plan.
I didn't say it weren't a plan, just I don't think it was planned as far back as 1 year ago, I think the plan/strategy has change due to changes of the situation.
It happened around the same time that their own incompetence secured relegation to League 1 and they realised that they could use the different FFP rules in that division to use the terms of a lease as an excuse to start a vendetta against ACL. Their back-up option was to use the debenture to trump any attempt by ACL to reclaim the resulting arrears-as TF said at the time, 'It's just one SISU company looking after the interests of another SISU company'.
the setting up of Otium along with the swathing reduction In squad ,coupled allegedly TF lurking in the Shadows some months before joining the board suggest this formed right there.
I'm aware of that, as are most people.
But surely, the other bidders bid more than 1.5m, but it wouldn't appear so because Otium bid the most (according to Guilfoyle) so...
I'm sure you have plenty of evidence to back up this sweeping statement, well?
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