what do ACL gain.. (1 Viewer)

luwalla · Aug 2, 2013

with the announcement that the league look set to give Otium the golden share now anyway ( along with a 15 point deduction ) .. what exactly do ACL gain out of rejecting the CVA. all they have done is lost half a million quid isnt it

SISU look like they will carry on regardless .. with a big helping hand from the football league.. still owning the club, stil owning the players, still playing in the league.. but without having to pay ACL anything now really

the only diffrence if ACL accepted the CVA , would have been that we didnt get a further points reduction, and ACL would be half a million quid better off .. is that right or am i missing some massive point that ACL have gained from this .. apart from them not feeling like they had to finally give in to SISU, or is that what all this is about still.

ive heard some saying that when we go into liquidation, "OOH THERE WILL BE THIS MASSIVE INVESTIGATION NOW , AND THE FOOTBAL LEAGUE AND SISU AND APPLETON WILL ALL GET FOUND OUT, AND A JUDGE SOMWHERE WILL LOCK THEM ALL UP ,WE WILL BE BACK TO THE RICOHETC ETC" no he wont, that aint gonna happen.... those sharks all have there backs well amd truly covered.

i honestly cant see any losers here apart from us fans and ACL

ccfcway · Aug 2, 2013

Appleton will be announced as Liquidator and as part of his investiagtions, he is legally responsible for investigating the actions of the administrator who was Appleton...

Appleton will be taking a fee for this

luwalla · Aug 2, 2013

ccfcway said:
Appleton will be announced as Liquidator and as part of his investiagtions, he is legally responsible for investigating the actions of the administrator who was Appleton...

Appleton will be taking a fee for this

Haha yeah exactly!! And sisu are most likely on a kick back from him! so instead of it costing SISU half a million to pay ACL to come out of admin via the cva.. They are now probably making a few quid from the kick back appleton gives them for handling the liquidation!

Ps - only joking paul Appleton & sisu , I'm sure there are no irregularities or kick backs actually taking place

chiefdave · Aug 2, 2013

Guess we have to wait and see what their next move is. Do they want to take on SISU and / or the Football League in the courts?

italiahorse · Aug 2, 2013

Don't the people owed decide and pay for the liquidator?

I'm hoping that ACL see something like forcing new owners to come out of this. Can't see how but their lawyer inferred this needs to stop to save CCFC.

skyblueexile · Aug 2, 2013

main creditor - SIDU chose the liquidator

As already said on another thread the expected result will be a fresh CVA not liquidation necessarily

Buster · Aug 2, 2013

skyblueexile said:
main creditor - SIDU chose the liquidator

As already said on another thread the expected result will be a fresh CVA not liquidation necessarily

Im afraid peeps were are firmly in SISU teritory here! Whats more ,when the dust settles youll see that this has been orchestrated from the start . Think back to when the non payment of rent first kicked of . Fisher came out with FFP in every statement . That shows his plan to leave the Ricoh was a given even in those early days . All that stood in Sisus way was a contract with ACL ! So ,move the players to holdings ,Keep spouting this "beneficial" rubbish,source a suitable administrator and let it roll. Bingo . Whats the exercise cost SISU . Sweet fanny adams. This is their sport . Not football. IMHO

Si80 · Aug 2, 2013

Buster said:
Whats the exercise cost SISU . Sweet fanny adams. This is their sport . Not football. IMHO

Well, in the immediate future they've now got to finance a football team based on the income of 300 season ticket sales (£66k income). So covering the shortfall of lets say £2M wages to be conservative next year, plus the £150k PA rent their going to pay to Northampton. The exercise is going to cost them quite a lot..... probably.

But it's ok, they'll pay it and just lumber the club with more and more debt until they finally decide to sell up.

dadgad · Aug 2, 2013

Well, it's a fair question. I suppose ACL must be banking on sisu not being able to survive on 300 ST's.
AcL would then get their preferred bidder and develop the swathes of real estate around CV6.
This is what they and the Council want.
How deep are Sisu's pockets?
Can they continue to fund a bankrupt club with no fans?

Theging1987 · Aug 2, 2013

Now in liquidation will the football club be put up for sale once again???? If so perhaps acl have already agreed a deal with Preston H should they now purchase the club?? All ifs and bits I know but was just a thought and probably completely inaccurate!!

Johnnythespider · Aug 2, 2013

Just a thought, but was the supposed 70 million losses in LTD, and if so does this now get written off with liquidation instead of transferred into otium, if so is that not a good thing. Also acl will get to hang on to what they will see as there pride, tis a dangerous thing pride, one of the 7 deadly sins no less, seen far too much of it from all sides in this debacle.

James Smith · Aug 2, 2013

Buster said:
Im afraid peeps were are firmly in SISU teritory here! Whats more ,when the dust settles youll see that this has been orchestrated from the start . Think back to when the non payment of rent first kicked of . Fisher came out with FFP in every statement . That shows his plan to leave the Ricoh was a given even in those early days . All that stood in Sisus way was a contract with ACL ! So ,move the players to holdings ,Keep spouting this "beneficial" rubbish,source a suitable administrator and let it roll. Bingo . Whats the exercise cost SISU . Sweet fanny adams. This is their sport . Not football. IMHO

Okay turning this on it's head slightly, what assets do SISU actually have in the Coventry City Football Club sense?
Ryton,
Players contracts,
Merchandise,
The CCFC trademarks and name,
And probably the Golden Share (with associated revenue e.g. TV money and Radio commentary)

Have I missed anything else?

Buster · Aug 2, 2013

Johnnythespider said:
Just a thought, but was the supposed 70 million losses in LTD, and if so does this now get written off with liquidation instead of transferred into otium, if so is that not a good thing. Also acl will get to hang on to what they will see as there pride, tis a dangerous thing pride, one of the 7 deadly sins no less, seen far too much of it from all sides in this debacle.

Perhaps that is why i lean towards ACL in these turbulent days . Iwas proud as well . LIke ACL i was proud of my football team and it was taken away from me. PUSB

italiahorse · Aug 2, 2013

I have a sense SISU are not happy with today.

This makes me happy.

Buster · Aug 2, 2013

James Smith said:
Okay turning this on it's head slightly, what assets do SISU actually have in the Coventry City Football Club sense?
Ryton,
Players contracts,
Merchandise,
The CCFC trademarks and name,
And probably the Golden Share (with associated revenue e.g. TV money and Radio commentary)

Have I missed anything else?

Goodwill ! Sorry i jest and its the wrong day for it.

James Smith · Aug 2, 2013

Okay so Sisu have the assets listed above and could sell them all tomorrow if they got what they wanted for them. However some can't be sold as individual assets as some of them aren't worth much without the Golden Share. So looking at the club as a business as a whole, what's the value going to be like if no one actually does go to Sixfields for 'Home' matches? Who is going to pay for the club at the SISU valuation if they have few customers, it's unlikely to many if any. How long would Sisu have to be funding / adding debt to the club before the value (as judged by potential purchasers) that matched the SISU sale price was reached? i.e. When are they ever going to reach the top of the business cycle and sell?

James Smith · Aug 2, 2013

Buster said:
Goodwill ! Sorry i jest and its the wrong day for it.

I thought it best not to put that in given I suspect it would require the supporters to be liking them.

what do ACL gain.. (1 Viewer)

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