The Penguin
Well-Known Member
I imagine they are fully aware of Sisu's actual record in court battles, rather than what some bumbling incompetent fool says when he's trying to be Billy Big Bollocks for the media
I imagine they are fully aware of Sisu's actual record in court battles, rather than what some bumbling incompetent fool says when he's trying to be Billy Big Bollocks for the mediaThey wouldn't have said that if they knew that SISU batter people in court. Maybe their QC is from Canley
Google Translate (in all its dodgy wisdom) says that Sisu are bitching about three resolutions passed at the company's AGM earlier this year.
My favourite line is someone saying, "we have a well prepared legal service and assure that the accusations of Sisu have no basis"
Imaginary. It's an opinion piece blog he's stumbled across that references nothing at all. Not one piece of evidence in it anywhere but it must be true.
Your slavish defence of the council is tiresome - pretty much everyone accept the nopm but jobs accept the council hadn't looked for bidders. They actively sought a buyer other than us. Keep justifying it in your tiny mind though.
Haha, yeah I remember the OH SO SCARY senior judges who were gonna come in and lay the smack down"I believe it is wrong in law and in fact. I have no doubt that this will be heard in the Court of Appeal in front of three very senior judges." is one of my favourite blasts from the past.
So SISU could be on their way out...fucking brilliant!
We could be bought by another hedge fund...erm...ok....
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Or some of their investors who want out and insist SISU sell the assets they own.It doesn't mean it is their money, just one of their investment funds.
It's in Simons book isn't it?
Nope, these are CBAATM (Can't Be Arsed At The Moment)Not going to argue here but, If we were getting 20-22k average gates on SISU arrival and now getting 7-8k gates, doesn't that mean there are about14-15k fans not paying to watch games at the Ricoh, and if that is right are they not NOPM?
And my translator is at work. She doesn't finish until 5.30 today.Any chance of a translation? I don't understand a word of that and don't have a translator on my phone
it all come down to someone offering SISU a reasonably face-saving exit strategy.
=
The financial crash or credit crunch had already begun when they took over.Had an interesting conversation with a financial analyst I know who works in the City (London). He specialises in hedge funds.
Sisu Capital have for a number of years hit big problems as a hedge fund. They hit the jackpot back in the late 90s/00s with their portfolio picking up companies in distress and either making sure creditors got full payouts, stripped businesses for any equity value or sold them on for profit with minimum investment. Primarily it was about restructuring bad debt and handsome payouts for their investors. They had a lucky patch to say the least.
However, in recent times their luck seems to have run out. Apparently a lot of their major investors have pulled the plug on funding Sisu with ventures and their portfolio of distressed companies. Especially during the financial crisis in the last decade. Back in the day it was seen as a good idea to buy troubled football clubs, hence why they looked at Man City and Saints. They stupidly purchased CCFC a few years before the financial crash. The worst possible investment they could make.
Their investors are not known and is the case in the secretive hedge fund world. They come from all over the world and tangled up in the Cayman island web of secrecy.
Sisu losing their investors has meant serious restructuring of their portfolio to make ends meet. One recent sell off this year was air conditioning company Airinotec to German investment fund Abacus Alpha.
Sisu are currently in a dumping of assets mode and selling of parts of their portfolio. There's not much left on their books apprently.
Sisu as a business and as a hedge fund are not well respected in the investment circles these days. They were an upcoming hedge fund star back in the day but their status has fallen. Basically nobody in the City takes any notice of them anymore. "They're not a player anymore". Joy Seppala's 'stock' is not great anymore and that hurts in financial circles of hedge fund owners. It doesn't attract investors...a killer for a hedge fund.
Due to failing investments and shrinking of their portfolio, Sisu's management fees have been reducing, profits are hardly noticeable and losing money.
I was told that it's a surprise CCFC was not sold off a few years ago as it's the one investment in the portfolio which is seriously straining their business. Investors in CCFC have pulled the plug and Sisu have been looking for new investors. Those investors would have taken a loss or took what they could. They have not been forthcoming and that's why the likes of Brody popped up. He isn't a major player or investor. 'Probably put £50k or so into the investment pot'. The original investors in CCFC have moved on and pulled the plug a while back. The club had to move to being self funding.
I mentioned the current issue of asset stripping in the club...the answer I got was well if the holding company owns Ryton and now land is a prime asset, Sisu will look to cash this in. There isn't anything left of the club asset wise to get money from. They had a go with early investment but that pot of money ran out. Considering their management fees have reduced or frozen they need instant cash accessibility through either player sales or land deals. This also helps pay the remaining investors.
Overall, Sisu have been left with the white elephant in the room... CCFC. The hedge fund is in dramatic free fall as a business and not really making money. CCFC really is their last hope of trying to pull off a spectacular deal from somewhere...but they have failed. They failed to get the Ricoh, failed with promotion to the Premiership, lost investors, can't put money into the club. Club is going one way and that's to L2 now. They now have a company on their books which is a portfolio killer. But how will they recoup original investment money? They can't as the club is now worth less and they failed to build CCFC with assets such as a stadium.
As my contact said...'they won't be hanging around for much longer. They can't afford it and nobody trusts their money to be invested with them anymore'.
If they can't find new investors to pull CCFC up and build assets they will dump. He said it wouldn't surprise me if another hedge fund acquired what's left of Sisu and that means they take on CCFC.
We wait and see...
Let's focus on where we are now instead of where we were!We had 17,000 at a game last season.
The financial crash or credit crunch had already begun when they took over.
but this has to be different. the debt is "internal" company debt i.e. what SISU & its associates have "put in".I think when we hear that another Hedge Fund may be interested in taking CCFC on we need to be mindful that everything has a price including Junk Bonds/Shares to Vulture Hedge Funds.
Vulture Hedge Funds buy junk bonds for cents on the dollar and then litigate through the Courts until they find a Judge to uphold their original value.
Have a look at what happened to Argentina
http://www.nytimes.com/2016/04/01/opinion/how-hedge-funds-held-argentina-for-ransom.html?_r=0
I know many warn against it but I still want wasps to buy us. To have access to revenues to put back into ffp would be big. Also imagine some fans would come back in droves so we could push on as a club
Any chance of a translation? I don't understand a word of that and don't have a translator on my phone
Buyers or tenants 4 years ago?As someone else says it's irrelevant so I won't bite other than point out the suggestion from a source that wasps were indeed lined up as buyers 4 years ago.
You have bothered to read it? Is it in Solihull Library?It's in Simons book isn't it?
I know many warn against it but I still want wasps to buy us. To have access to revenues to put back into ffp would be big. Also imagine some fans would come back in droves so we could push on as a club
You have bothered to read it? Is it in Solihull Library?
Buyers or tenants 4 years ago?
So SISU could be on their way out...fucking brilliant!
We could be bought by another hedge fund...erm...ok....
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So SISU could be on their way out...fucking brilliant!
We could be bought by another hedge fund...erm...ok....
Sent from my iPhone using Tapatalk
It's OK, it'll be an Owen Oyston, Geoffrey Robinson, Mark Goldberg holy trinity!
It's all going to come down to what figure Joy will accept and only she knows that.
exactly, I was delighted when the current bunch of wankers took over from the last bunch of wankers so I'm going to reserve judgement on the next bunch of wankers.
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