What if SISU lose? (1 Viewer)

skybluetony176 · Jul 8, 2015

There's been a fair bit of talk about what happens if SISU win the appeal but what about if they lose?

My worst fear is the club gets liquidated in a heart beat.

Any other theories?

chiefdave · Jul 8, 2015

Depends if JR2 is rolled in. If it isn't then they will no doubt start down that road and we'll have several more years of court action to look forward to. If it is rolled in then it may be the case more appeals are allowed as it would be the first hearing for JR2.

Eventually SISU will either win or reach a point at which they can no longer appeal. I doubt they will liquidate, we have very little in the way of assets so they would get the best return by selling the club as a going concern.

Grendel · Jul 8, 2015

SBK thinks that's the likely result if they win.

Are you out there on the park bench with him?

skybluetony176 · Jul 8, 2015

I hope your right about not liquidating Dave but it's the very little assets bit that worries me about this especially when you offset that against the debt. What is the club actually worth paying for? Why wouldn't they get a better return by liquidating and the bad debt benefiting SISU with their tax bill for instance?

skybluetony176 · Jul 8, 2015

Grendel said:
SBK thinks that's the likely result if they win.

Are you out there on the park bench with him?

I get the impression that SISU losing and what that potentially means the club isn't on your radar. Odd.

Ian1779 · Jul 8, 2015

There is no way they will liquidate the club despite the scaremongering of other people.

chiefdave · Jul 8, 2015

Ian1779 said:
There is no way they will liquidate the club despite the scaremongering of other people.

According to this forum if they win they are liquidating and if they lose they are liquidating!

skybluetony176 · Jul 8, 2015

Ian1779 said:
There is no way they will liquidate the club despite the scaremongering of other people.

And you can be sure of that how?

chiefdave · Jul 8, 2015

Legally could they jump straight to liquidation without getting in an administrator and offering it up for sale?

Ian1779 · Jul 8, 2015

It's an illogical conclusion. The golden share is the only aspect that has any 'perceived' value and if liquidated is worth nothing.

A sale based on it's 'value' in terms of entry to the 3rd tier of English football will always generate more money than the suggested alternative.

skybluetony176 · Jul 8, 2015

chiefdave said:
According to this forum if they win they are liquidating and if they lose they are liquidating!

According to SBK. If they win what you've said on another thread is likely to be the case. Personally I don't see there being any chance of us being liquidated if they win. Just less debt maybe no debt and new owners.

If they lose on the other hand...

skybluetony176 · Jul 8, 2015

Ian1779 said:
It's an illogical conclusion. The golden share is the only aspect that has any 'perceived' value and if liquidated is worth nothing.

A sale based on it's 'value' in terms of entry to the 3rd tier of English football will always generate more money than the suggested alternative.

What is the Golden share worth really when the club it's attached to has no tangible assets and a mountain of debt?

Sky Blue Kid · Jul 8, 2015

I have said if SISU lose there is a big chance they will liquidate, and if they win the only thing of any worth is the GS, but if they win as suggested £200 millions in compensation, what is peanuts in comparison(GS) they might just liquidate just for the sheer "Joy"(Pun intended) of it. SISU hate the people of Coventry, and all that the City of Coventry stands for. They only ever wanted a quick turnover in cash for their investors, and they don't care who they trample all over in the process.

SkyblueBazza · Jul 8, 2015

I think we have been over & over this before - the FL own the golden share. It has no monetary value to SISU nor anyone else - maybe a bit like a library ticket that allows you to operate in a library by borrowing a book. The golden share is granted to a club allowing them to play games. It cannot be bought or sold.

...onwards & upwards PUSB

Grendel · Jul 8, 2015

Sky Blue Kid said:
I have said if SISU lose there is a big chance they will liquidate, and if they win the only thing of any worth is the GS, but if they win as suggested £200 millions in compensation, what is peanuts in comparison(GS) they might just liquidate just for the sheer "Joy"(Pun intended) of it. SISU hate the people of Coventry, and all that the City of Coventry stands for. They only ever wanted a quick turnover in cash for their investors, and they don't care who they trample all over in the process.

Sober up - and stop acting like a moron.

coop · Jul 8, 2015

They will sell any decent player's we have to cover court costs . Can't see them winning anyway.

Grendel · Jul 8, 2015

coop said:
They will sell any decent player's we have to cover court costs . Can't see them winning anyway.

Bollocks.

SkyBlueSid · Jul 8, 2015

Sky Blue Kid said:
I have said if SISU lose there is a big chance they will liquidate, and if they win the only thing of any worth is the GS, but if they win as suggested £200 millions in compensation, what is peanuts in comparison(GS) they might just liquidate just for the sheer "Joy"(Pun intended) of it. SISU hate the people of Coventry, and all that the City of Coventry stands for. They only ever wanted a quick turnover in cash for their investors, and they don't care who they trample all over in the process.

I fear that if they lose it will be business as usual. Their legal costs will mean the business will stay in decline and League 2 will continue to beckon.

It's not a good outlook, but neither is the prospect of what happens if they win. They are likely to grab the money and run, selling what is left of the club on to whoever wants it. Their job will be done.

I cannot be optimistic about the outcome of the court case whatever it is. The only consolation for me is that I am not a Coventry resident now so I won't have to suffer if the council goes broke.

SkyBlueSid · Jul 8, 2015

coop said:
They will sell any decent player's we have to cover court costs . Can't see them winning anyway.

I think they are unlikely to win. I'm just wondering who the decent players are though. I can't think of anyone likely to raise several millions.

Sky Blue Harry H · Jul 8, 2015

SkyBlueSid said:
I think they are unlikely to win. I'm just wondering who the decent players are though. I can't think of anyone likely to raise several millions.

Unless he cops for a bad injury, Maddison will be worth a lot of money in 2-3 seasons time (IMHO)

chiefdave · Jul 8, 2015

Sky Blue Harry H said:
Unless he cops for a bad injury, Maddison will be worth a lot of money in 2-3 seasons time (IMHO)

Unfortunately he is unlikely to still be here in 2-3 seasons time.

Ian1779 · Jul 8, 2015

skybluetony176 said:
What is the Golden share worth really when the club it's attached to has no tangible assets and a mountain of debt?

It's a ticket into a football club in Tier 3 of English football. That's why it's worth more than nothing. It may only be about potential to be fair but that is still more than nothing at all.

Deleted member 5849 · Jul 8, 2015

I have to say I'm with Tony on this. If it comes to the alternatives, someone needs to offer more than the value of Ryton, the various players that can be sold (OK, OK, only a fiver maybe) and whatever else can be auctioned off.

Otherwise, it's liquidation if it was a choice of the two. We might get lucky and be allowed to exist if we break even... but what football clubs do that regularly, nowadays, without running with a volunteer team!

skybluetony176 · Jul 8, 2015

Deleted member 5849 said:
I have to say I'm with Tony on this. If it comes to the alternatives, someone needs to offer more than the value of Ryton, the various players that can be sold (OK, OK, only a fiver maybe) and whatever else can be auctioned off.

Otherwise, it's liquidation if it was a choice of the two. We might get lucky and be allowed to exist if we break even... but what football clubs do that regularly, nowadays, without running with a volunteer team!

Sometimes I think you and me are the only sensible ones on here Northern

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