for the avoidance of doubt it is SISU Capital Limited that ultimately controls Coventry City.
SISU Capital Ltd The ultimate owner of the club.
doesn't really tell us anything. the one interesting thing is that he clearly states that the club is ultimately owned by SISU
this does seem a little at odds with the view held on here by people who know far more about these things than me who have often reminded us that SISU don't own the club. Someone must be wrong and to be frank I don't trust much that club says these days!
I was under the impression that any one person that owns more than a 10% stake in a football club has to be named as part of public record (for want of a better way of putting it)
So that a fit and proper test can be done - not that there worth the paper there written on..
doesn't really tell us anything. the one interesting thing is that he clearly states that the club is ultimately owned by SISU
for the avoidance of doubt it is SISU Capital Limited that ultimately controls Coventry City.
SISU Capital LtdThe ultimate owner of the club.
this does seem a little at odds with the view held on here by people who know far more about these things than me who have often reminded us that SISU don't own the club. Someone must be wrong and to be frank I don't trust much that club says these days!
The first quote is taken directly from Tim Fisher and is correct. The second is a journalists poor attempt of stiputating points at the end of the article ... showing he did not understand the very essence of what Tim Fisher explained.
As it has been stated on this forum many times: Sisu are merely managing the funds who owns the club.
Better to say that as long as SISU ultimately manage the 'investments/funds' from our 'owners', we'll never know who really owns CCFC.
THe new rules on transparency ,suggested by the select committee come into force next month ,meaning the league /FA have to start implementing recommendations from that committee or the government will legislate to enforce,along with several other matters ,be nice to see if they have any teeth.
It is what it is.A couple of things stick out for me...
1) If SISU were leaving anytime soon, why on earth would they bother with this article. So it makes me think they will have some time left at the club.
I agree. I think they are here to stay in the absence of a credible alternative
2) Leonard Brody was not mentioned at all, but the last information (from Crowsnest I think) was that he owned a smallish percentage of shares in SBS&L and Sconset held the rest. Has he sold up?
Would be good if this was clarified
3) Fisher said that "for the most part SISU’s investors are institutional investors such as major pension funds". In doing so he was very careful to steer people away from thinking about wealthy individuals as investors in these funds, I am sure some high profile individuals wouldn't want their assocition with hedge funds made public, not that I have any information that is the case, but I'd bloody well like to know!
[B]I agree but I understand the discrete nature of investment./B]
4) One key phrase was "High levels of confidentiality exist between SISU and its investors", well funnily enough the identities of these investors is EXACTLY what the fans want & deserve to know, otherwise how can we judge what their true intentions are.
I agree. However we do not know the identity of the Hoffman investors or their intentions etc
5) Am I right in thinking that the 300 shareholders with B class shares don't have a vote, they have pieces of paper & get a annual report and nothing much if anything else?
Not sure. Would have to see the Articles
6) The ownership of less than 10% is a damned loophole for publicity shy investors to avoid being found out, they ougt to force them to declare the LARGEST holdings, irrespective of % held.
Am I the only one wishing they'd drawn a diagram?
To be honest I don't really care about the ownership structure of the club. The finances I find very interesting however.
I hope tomorrow's article not only explains the outstanding debt to SISU and the current financial situation, but also the contingency plan for when we go down. THAT is the part that not only has been missing, but that our local journalists keep forgetting to ask.
The best I've heard is people saying "Well, we'd hope we don't go down" but surely that's can't be the plan?? What if we do?
There's a diagram in the paper. Here goes.
Sisu capital
|
Sconset capital
|
Sky blue sports and leisure
|
Otium entertainment group
|
Ccfc holdings
|
Ccfc ltd
That diagram is wrong & over simplfied. Where's Brody for one and it omits SISU investors, hey they are the ones that put up the money!
Had a quick scan this morning will read properly later Sub (its a really busy time here due to self assessment deadline 31/01)
It did raise a few immediate questions - how does 9m + 2m + 16m add up to well over £30m for example .... or didnt take "dividends or capital repayments" but did they take interest ? etc etc
Had a quick scan this morning will read properly later Sub (its a really busy time here due to self assessment deadline 31/01)
It did raise a few immediate questions - how does 9m + 2m + 16m add up to well over £30m for example .... or didnt take "dividends or capital repayments" but did they take interest ? etc etc
9m+2m+16m= 27m ... add to that the sale of Prozone.
Interests ... you have with you own eyes not found evindence they are charging interest up till the latest accounts. Why would they change policy when there's no real shift of control or ownership?
Prozone was an asset owned by SBSL Group which is the company SISU actually invested in so the sale is not SISU investing more money
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