CCFC at St Andrews

[Neils]

Totally agree but her saying it will get the rabid mob going.

[NellyWellyWaspy]

I wonder when the interview was filmed? From the short clips and the scribed version of it, the interview doesn't really seem to have a purpose or goal. Was this requested by Sky Sports? I doubt it. Did SISU or Seppala herself offer the interview to Sky Sports?

I initially expected it to be a rallying call to arms against the council and Wasps but unless there's a part of the interview that hasn't been released it came across as simply as something to placate the fans and to try and create a bit of empathy/sympathy for Joy.

I wonder if the harrassment (anger) from CCFC fans is getting a little too much and this is an attempt to try and calm things down.

If someone has broken into her propery then hopefully the police will have dealt with it but in terms of CCFC fans venting their anger, then SISU/Joy has brought that upon themselves by their actions.

I wonder if this is a tentative start in the process to offloading their asset, as she mentions that they weren't going to own CCFC forever and that they want to try and ensure its future even if they aren't there.

Maybe the fans are voting with their feet and not buying STs. Hence the need to apologise, to try to persuade them to buy seats.

Oddly, referring the case to the EC, they may have made the club harder to sell/less valuable.

[Rossm]

"As part of the interview package, reporter Rob Dorsett said that Ms Seppala estimates the hedge fund has lost more than £50million while in charge of the club."

Never reinforce failure. In other words, don’t throw good money after bad. It’s almost impossible to make a bad plan succeed by throwing more resources at it, and the result is almost always to make a failure larger. Time to cut and run, Joy.

[Neils]

Good to see NE coming out quickly and saying Wasps are not interested in purchasing CCFC - more fabrication from Joyless.

[BG]

I wonder what other debts CCFC have other than what SISU have invested.

Someone on the other site quoted an article a while ago that estimates that SISU are owed about £19m tops.

The slight problem that SISU didn't think through when they raised the issue with the EU Commission, is that they can't stop the process now. Technically they aren't the "claimants".. they simply brought the situation to the attention of  the EU so they can't approach the EU explainng that they made a mistake and wish the investigation to stop.

Whilst this is going on (which could take years) I can't see Wasps entertaining the idea of hosting CCFC with SISU as owners and even possibly, without SISU as owners.

This is surely going to ht the finances of CCFC extremely hard and I can't see SISU pumping more money in

[Trevs Big Tackle]

If the EU decides that the sale of the stadium to Wasps was unlawful state aid then SISU would, of course, launch further legal proceedings against the council and possibly Wasps demanding compensation. The longer they are playing away from Ricoh paying (presumably) high rent the more compensation they will demand. Interestingly, and worryingly for CCFC fans, if SISU wants to maximise the compensation then it wouldn't be bad for SISU if CCFC went bankrupt in the next few years, before the case is decided. That has the added bonus that SISU would no longer need to finance the football team's day to day business in order to make a profit from the asset.

Alternatively they could sell the club and, should the EU decide in their favour, claim they were forced to sell the club for less than it should be worth, and claim compensation on those grounds.

Fun fun fun!

[NellyWellyWaspy]

It has to be said, that, where countries have built stadia in development areas (as the Ricoh is/was), the transfer then to a sports club has often been at knowing undervalue and the government declared this in advance and received permission to proceed anyway. Not that we think that it was at undervalue.

I cannot see the EC saying it was at undervalue or unlawful. The evidence before them will be the same as the English Courts have already looked at. But, it will take them ages to say that.

[Vespula Vulgaris]

Derek is a Saffa isn't he.

Our Derek?

[Neils]

Derek is a Saffa isn't he.

Our Derek?

 

[RogerE]

Our Derek is Irish (Cork), although now a resident of Monaco

[RogerE]

Talking of "our Derek", I had completely forgotten about an article about him I was sent a link to back when the move from AP to the Ricoh was new.

Link: https://www.independent.ie/sport/rugby/champions-cup/the-irish-millionaire-at-the-heart-of-wasps-revival-30933178.html - can you spot the mistake at the top of the article?

[Neils]

Our Derek is Irish (Cork), although now a resident of Monaco

Off beat humour?

[BG]

Our Derek is Irish (Cork), although now a resident of Monaco

Off beat humour?

So off beat its gone straight over my head as well? I'm presuming there is an insinuation somewhere with being a  Saffa owner but I can't make a link? Maybe its further back in the topic thread?

[Neils]

Strange SBT posters lusting after her!! Also some surprised she is American! Weird people.

Derek is a Saffa isn't he.

This far back.

[Rossm]

The woman according to CovLive says Wasps wanted to buy CCFC. As numerous judges have said she is an unconvincing liar.

Clarification from Nick Eastwood:

https://www.coventrytelegraph.net/sport/wasps-response-joy-seppala-claims-16481704

Not surprised, as landlords, that Wasps would have been approached.