The end of Sisu? (1 Viewer)

[NorthernWisdom]

Jesus wept...could you imagine?'

With us... yes!

 

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[Captain Dart]

It's all going to come down to what figure Joy will accept and only she knows that. Any potential way forward has to have the debt at least reduced and deferred if not written off entirely.

I suspect its about stubbornness and personalities now as much as hard cash. And that's a spanner in the works to any calculations of the clubs worth.

I'd guess the likely end game is selling off Ryton, perhaps with a rental deal with Warwick or someone and admin. Then we probably get wound up, the FA takes back the golden share and once again it's up to how a couple of people in a smoky rule internet the rules.

She may have no options if her investors have said get rid of this loss making pile of doo doos (or words to that effect).

 

[Captain Dart]

Jesus wept...could you imagine?'


Sent from my iPhone using Tapatalk

He just did, must be sick in the head

 

[shmmeee]

The encouraging thing *if* it were SISU going under rather than the club, is it loosens some of the control of that at least, gives us a bit more of a fighting chance.

Still think if it's down to Seppala herself, we can wave goodbye to our football club unless a nutter turns up with a wheelbarrow full of used fifty quid notes.

I think since we went down we are very much a Seppala investment more than a Sisu one.

I suspect we will only leave her grip through a spite filled admin, and as Sisu hold all the debt probably a spite driven winding up process. Unless of course said wheelbarrow turns up.

 

[NorthernWisdom]

I think since we went down we are very much a Seppala investment more than a Sisu one.

I suspect we will only leave her grip through a spite filled admin, and as Sisu hold all the debt probably a spite driven winding up process. Unless of course said wheelbarrow turns up.

I fear I agree with you. Not even sure it's spite either tbh, it's maintenance of her own 'brand' innit.

I dunno what's going on around here mind you. I just can't shake that the suspicion the Telegraph break cover and then almost immediately rumours start flying around. It's either a cunning plan to try and make a self-fulfilling prophecy, or the Telegraph are trying to piggy-back on something substantial.

 

[covroy]

jjust googled their address and the entrance appears to be up an alleyway.........very salubrious

 

[Hobo]

Buyers was it not?

Genuinely don't know. I only heard they were interested 6-12 months before it happened and I stress their interest.

 

[Frankley]

I fear I agree with you. Not even sure it's spite either tbh, it's maintenance of her own 'brand' innit.

I dunno what's going on around here mind you. I just can't shake that the suspicion the Telegraph break cover and then almost immediately rumours start flying around. It's either a cunning plan to try and make a self-fulfilling prophecy, or the Telegraph are trying to piggy-back on something substantial.

Why might the Telegraph break cover? Try Googling this 'OUT/2016/2034'

Funny how the asset stripping of the Coventry Evening Telegraph has gone so unnoticed.

 

[Hobo]

No I went to the dolphin in canley and met him round the back - he and his minders were fairly intimidating.

What Dolphin? When was the last time you were in Coventry apart from fleeting visits to the Ricoh. His minders fairly intimidating? Lol your imagination is running riot.

 

[Hobo]

jjust googled their address and the entrance appears to be up an alleyway.........very salubrious

They have certainly took Coventry City FC up and parked us in a salubrious alleyway.

 

[Otis]

jjust googled their address and the entrance appears to be up an alleyway.........very salubrious

So when someone first showed them round, did someone take Joy Seppala up the back alley?

 

[Captain Dart]

Why might the Telegraph break cover? Try Googling this 'OUT/2016/2034'

Funny how the asset stripping of the Coventry Evening Telegraph has gone so unnoticed.

How ridiculous can you get, the telegraph downsized to rented premises in the Canal Basin in 2012. That building they formerly occupied used to house printing presses and a much larger news team etc. its has been empty since they moved, it needs redevelopment. That submission has nothing to do with asset stripping it is a realistic approach to the current business conditions of the Mirror Group they're selling off a building they don't need. Local papers are dying, I'll give it 10-20 years and they'll all be online.

 

[SkyblueBazza]

Not a chance. The average investment required to get a successful championship team would be £100 million. Wasps don't actually pay for anything that doesn't generate instant return.

They could buy us and charge £2 million a year rent to fund their main operation.

So immediate 2-4k reinvigorated enthusiastic SBA added on the gates wouldn't be of any interest to them whatsoever? At the same time they would probably get by running Wasps & CCFC admin together (hence I mentioned "efficient outfit" earlier). CCC would have a major Rugby Club & football club with owners they know they can work with...all that investment under one roof & overarching banner cements the club in the City (resolving many fan's fears).
Its a definite YES for me!!!
But just continue to think inside your own little box, eh?

...onwards & upwards PUSB

 

[Frankley]

How ridiculous can you get, the telegraph downsized to rented premises in the Canal Basin in 2012. That building they formerly occupied used to house printing presses and a much larger news team etc. its has been empty since they moved, it needs redevelopment. That submission has nothing to do with asset stripping it is a realistic approach to the current business conditions of the Mirror Group they're selling off a building they don't need. Local papers are dying, I'll give it 10-20 years and they'll all be online.

The newspaper is on a course to self destruction isn't it.

By cutting what you called the 'news team' to reduce costs, you almost certainly damage the quality of the product and so sales fall... which mean you have to reduce costs still further, which damages the quality of the product even more and so sales fall still further...

Also, I don't think the profile of the paper has been enhanced by it moving from landmark offices in Corporation Street to the comparative backwater of the canal basin (pun intended).

 

[christonabike]

I know fook all about bankers and hedge funds but my mate seems to know the business....

 

[Captain Dart]

The newspaper is on a course to self destruction isn't it.

By cutting what you called the 'news team' to reduce costs, you almost certainly damage the quality of the product and so sales fall... which mean you have to reduce costs still further, which damages the quality of the product even more and so sales fall still further...

Also, I don't think the profile of the paper has been enhanced by it moving from landmark offices in Corporation Street to the comparative backwater of the canal basin (pun intended).

Did you not get the last and most important point? https://en.wikipedia.org/wiki/Decline_of_newspapers

What would be the point of locating the offices to a more high profile, prestigious and expensive location, the paper struggles to make a profit as it is, if in fact it does.

 

[Nathccfc]

You don't seem to understand. Irrespective of reasons, we had 8k at last home game. They weren't all called into work urgently on a Saturday were they?
*Edit* Why not blame Big Dave for having the cheek to play golf instead of watching CCFC, or Fred because his mrs says he has to take her shopping on Saturday between the exact times of 3pm and 5pm. or Bob because he was on a promise every other Saturday between 3pm and 5pm. Inconsiderate bas***ds to say the least eh?

If anything, it's not the fans who are to blame. It's SISU for dragging the club away from its home town when we went to six fields, many fans were lost there. Many spent season ticket money on other things which may have meant that they have continued with it now. We couldn't have a walk up crowd, who would travel to go to one game in Northampton. That situation of moving is the real reason for the drop in crowds, we would have had some good crowds if we were at the Ricoh for that period because the entertainment in those games were fantastic.

 

[skybluestevie]

The newspaper is on a course to self destruction isn't it.

By cutting what you called the 'news team' to reduce costs, you almost certainly damage the quality of the product and so sales fall... which mean you have to reduce costs still further, which damages the quality of the product even more and so sales fall still further...

Also, I don't think the profile of the paper has been enhanced by it moving from landmark offices in Corporation Street to the comparative backwater of the canal basin (pun intended).

That could so easily be all about CCFC... just read "first team" for "news team" and think of ticket sales rather than newspaper sales

 

[Sky Blue Kid]

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.

I along with a couple of others, told you all they were wankers 9 years ago, starting to believe now eh?

 

[Sky Blue Kid]

How ridiculous can you get, the telegraph downsized to rented premises in the Canal Basin in 2012. That building they formerly occupied used to house printing presses and a much larger news team etc. its has been empty since they moved, it needs redevelopment. That submission has nothing to do with asset stripping it is a realistic approach to the current business conditions of the Mirror Group they're selling off a building they don't need. Local papers are dying, I'll give it 10-20 years and they'll all be online.

Bang on mate. I worked at the telegraph 50 years ago as a "Copy Boy" or "Runner" on Saturdays taking photos/quotes to the print room to be proof read before going into the "Pink" Exciting times sadly going to be totally extinct soon.

 

[Sky Blue Kid]

I along with a couple of others, told you all they were wankers 9 years ago, starting to believe now eh?

*Edit* just for you smart arses. That should read, I along with a couple of others told you all 4 years ago when I joined the forum they were wankers when they arrived 9 years ago.... Thank you.

 

[Grendel]

*Edit* just for you smart arses. That should read, I along with a couple of others told you all 4 years ago when I joined the forum they were wankers when they arrived 9 years ago.... Thank you.

But you also praised Ray Ranson and his vision.

 

[Pete in Portugal]

I think since we went down we are very much a Seppala investment more than a Sisu one.

I suspect we will only leave her grip through a spite filled admin, and as Sisu hold all the debt probably a spite driven winding up process. Unless of course said wheelbarrow turns up.

Unfortunately, that's exactly how I see it too.

 

[dongonzalos]

It's all out there in the public domain.
The business in Germany
The changing of business premises
The first step towards selling Ryton.
I just don't understand how not putting the club into administration. Is the current path for them.
The only thing I can think is it somehow affects compensation if they won the legal battles.

 

[Gazolba]

<snip>

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. <snip>

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. <snip>

I guess that means there won't be any new stadium then.

 

[Grendel]

It's all out there in the public domain.
The business in Germany
The changing of business premises
The first step towards selling Ryton.
I just don't understand how not putting the club into administration. Is the current path for them.
The only thing I can think is it somehow affects compensation if they won the legal battles.

If the club itself is not in significant debt crises administration is illogical.

 

[Kingokings204]

If the club itself is not in significant debt crises administration is illogical.

No I can't see it going to another admin. Agreed.

also I don't know how these things work but surely Joy can't just wind the club up because she wants to can she?

 

[Sky Blue Kid]

But you also praised Ray Ranson and his vision.

There was nothing wrong with Ranson and his vision. It was a pity SISU reneged on it.

 

[NorthernWisdom]

There was nothing wrong with Ranson and his vision. It was a pity SISU reneged on it.

lol

 

[dongonzalos]

If the club itself is not in significant debt crises administration is illogical.

But it isn't self funding and if the op is to be believed SISU are in crisis?

 

[Sky Blue Kid]

lol

That's exactly what I do every time I see your Avatar.

 

[AFCCOVENTRY]

I guess that means there won't be any new stadium then.

They can't attract investors. People don't want to invest their money with Sisu right now. If they magically find the investors for a new stadium then it could happen.

The original plan was invest in playing squad to get to the premiership. Didn't work.

2nd plan - investment money ran out and premiership gain was slipping away each season. Plan shifted to getting the Ricoh on the cheap and at one point they asked for it to be handed over. They thought of they could marry up the stadium on the cheap with the club they could cash in big time. Didn't work. Wasps came and took it.

3rd plan - time to sell assets to satisfy investors and move the club being self sufficient as no more money is being pumped in. Original investors have moved on and they can't find new ones. That's where we are at now.

Next move:

1) find investors to build a new ground or
2) leave the club self sufficient and maybe premiership might come one day or
3) just keep selling a star player each year from the academy to help keep investors happy
4) take what they can from sale of club and bin the investment . Investor would rather take an 80% loss than have nothing left.

My personal thought is we are somewhere between point 1 and point 4. If they can find that investor then they will try again to marry club with a stadium and then exit with a big sale. If they can't, they will just move on. 10 year mark is coming next year and CCFC is an absolute failure on their portfolio.

 

[skybluetony176]

No I can't see it going to another admin. Agreed.

also I don't know how these things work but surely Joy can't just wind the club up because she wants to can she?

The club is in debt to companies that she controls. I'd imagine that means it's very easy for her to wind the club up if she wants.

 

[peeler]

They can't attract investors. People don't want to invest their money with Sisu right now. If they magically find the investors for a new stadium then it could happen.

The original plan was invest in playing squad to get to the premiership. Didn't work.

2nd plan - investment money ran out and premiership gain was slipping away each season. Plan shifted to getting the Ricoh on the cheap and at one point they asked for it to be handed over. They thought of they could marry up the stadium on the cheap with the club they could cash in big time. Didn't work. Wasps came and took it.

3rd plan - time to sell assets to satisfy investors and move the club being self sufficient as no more money is being pumped in. Original investors have moved on and they can't find new ones. That's where we are at now.

Next move:

1) find investors to build a new ground or
2) leave the club self sufficient and maybe premiership might come one day or
3) just keep selling a star player each year from the academy to help keep investors happy
4) take what they can from sale of club and bin the investment . Investor would rather take an 80% loss than have nothing left.

My personal thought is we are somewhere between point 1 and point 4. If they can find that investor then they will try again to marry club with a stadium and then exit with a big sale. If they can't, they will just move on. 10 year mark is coming next year and CCFC is an absolute failure on their portfolio.

No mention of the litigation, JR1 & JR2, where do they fit in?

 

[AFCCOVENTRY]

No mention of the litigation, JR1 & JR2, where do they fit in?

That's classic Sisu. It's like a bit on the side they do with all investments. Try and play victim and take whoever they can to court for money. As long as the reward is bigger than the legal fees by some margin they see it as a good risk reward.

They are doing that know with the polish tels company.