Have I misunderstood?
"so even the new board start off by telling lies"
Dont think anyone has hidden this or told lies, there was a full announcement the other day on Prozone and Amisco web sites. There wasnt anything to tell before this week.
They specifically said in the press conference that the money invested in March was to allow us to meet our financial commitments to the end of the season. If I'm not mistaken, the season has ended and our revenue from matches will have dried up during the off-season, but still have bills and salaries to pay. We have some season ticket sales but that's probably about it. They had always said that they were looking for investment and if that has not been forthcoming then it makes sense to sell off this asset.
Of course it is a concern that we are rapidly running out of assets as we have not yet bought the training ground back (which tbf they did say we were doing) but the time is not right and things evolve. What would you all rather do - lose Prozone or sell Turner, Cranie, Clingan and anyone else that has a tangible value? It is possible that they may still have to be sold, but lets hope this buys us some more time to keep the club afloat whilst a potential buyer is sought.
Everything that is wrong with CCFC (and there are lots of areas) are not ALL down to SISU whatever some of you may want to believe.
So erm... I'll be stealing this post thenlooking at their article the following is either a guess or wrong
- The amount Prozone sold for or even if it was for cash only. It could have been for shares in Amisco
- second paragraph they guess a value of 4 to 5m ..... so which is it ?
- last accounts show operating losses at £600K pm before player sales ..... but these figs are to 31/05/10 .... £500K pm is probably light if you factor in no player sales, no great overhead/wages savings, low gates etc for 2011
- RR, through his company The Arley Group owned 2106 of the 13698 shares issued thats 15% not 24%
- We dont know that RR got any pay out for going
- we do know Arley group was repaid its loan and interest when RR left
- Neither Arley group nor RR owned any of the shares of CCFC let alone 24% of it
- The plus cash bit of their report implies somehow RR did a bad thing but what he did was to leave £1.5m from his company Arley Group in the group to help the cash flow. It was a loan
- SISU have given undertakings to the group and its auditors that they will continue to support financially.... it is in the accounts and on the audit report. If they hadnt the audit report would have been different and we would already be bust. No lies or deceptions, but they are not Abramovic and dont have endless amounts of money to throw at us. So the Board made this clear in March - not new news
- we have no idea how much Prozone made last year nor do CT
Bottom line is the Group has to do what ever it must to keep going......... that will change over time ..... which means they will say things now, circumstances change and they have to revise or go back on their earlier statement...... not really big news and not deliberate misleading
Oh good news then, you borrowed money in april and spent it and now you have sold Prozone and that money has already been used.
Oh good news then, you borrowed money in april and spent it and now you have sold Prozone and that money has already been used.
your point being?
We're using it to pay one week's wages for Yakubu. Is that OK for you Hackers? Now bore off back to Incester with your findings.
That 5m more in debt than you thought you were?
it says in the telegrapgh that the finance diretor has resigned as well ,that is never good news as they know what is really going on with the business
it says in the telegrapgh that the finance diretor has resigned as well ,that is never good news as they know what is really going on with the business
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