CCFC Club Statement: Club Accounts

Dave Sugarman aka TLG:



So we now have a situation whereby an unknown third party is apparently seeking to make a large profit by gambling millions of pounds on the outcome of a court case involving the death of a professional football player.

Could this unsavoury business get any murkier? I guess we'll find out in due course.

Dave Sugarman aka TLG:



So we now have a situation whereby an unknown third party is apparently seeking to make a large profit by gambling millions of pounds on the outcome of a court case involving the death of a professional football player.

Could this unsavoury business get any murkier? I guess we'll find out in due course.

I don’t see why TLG feels it’s murkier. It’s quite a common occurrence in litigation, as the costs are as we’ve seen quite high. Plus the individuals, or it may be an institution, who fund these are extremely diligent. They don’t throw money away on a whim.
Unless it’s a sufficiently distant entity of the directors/shareholders, to be classed as independent by the auditors. I think it’s a good thing.
Fingers crossed we’ll win the case. But litigation can blow up in your face on a judges decision. So it’s not over til it’s over.

Dave Sugarman aka TLG:



So we now have a situation whereby an unknown third party is apparently seeking to make a large profit by gambling millions of pounds on the outcome of a court case involving the death of a professional football player.

Could this unsavoury business get any murkier? I guess we'll find out in due course.

I don’t see why TLG feels it’s murkier. It’s quite a common occurrence in litigation, as the costs are as we’ve seen quite high. Plus the individuals, or it may be an institution, who fund these are extremely diligent. They don’t throw money away on a whim.
Unless it’s a sufficiently distant entity of the directors/shareholders, to be classed as independent by the auditors. I think it’s a good thing.
Fingers crossed we’ll win the case. But litigation can blow up in your face on a judges decision. So it’s not over til it’s over.

Yes this does happen quite a lot in litigation but even so it does come across as a murky business.

Here we are dealing with the death of a football player and suddenly we have 3rd parties getting involved because there is a chance they can make a lot of money out of it. Sorry but this practice is making me feel sick.

Dave Sugarman aka TLG:



So we now have a situation whereby an unknown third party is apparently seeking to make a large profit by gambling millions of pounds on the outcome of a court case involving the death of a professional football player.

Could this unsavoury business get any murkier? I guess we'll find out in due course.

I don’t see why TLG feels it’s murkier. It’s quite a common occurrence in litigation, as the costs are as we’ve seen quite high. Plus the individuals, or it may be an institution, who fund these are extremely diligent. They don’t throw money away on a whim.
Unless it’s a sufficiently distant entity of the directors/shareholders, to be classed as independent by the auditors. I think it’s a good thing.
Fingers crossed we’ll win the case. But litigation can blow up in your face on a judges decision. So it’s not over til it’s over.

Yes this does happen quite a lot in litigation but even so it does come across as a murky business.

Here we are dealing with the death of a football player and suddenly we have 3rd parties getting involved because there is a chance they can make a lot of money out of it. Sorry but this practice is making me feel sick.

Correct Ian

I thought we owned the stadium ?

I thought we owned the stadium like them lot down the road ?

I thought we owned the stadium like them lot down the road ?

Dave Sugarman aka TLG:



So we now have a situation whereby an unknown third party is apparently seeking to make a large profit by gambling millions of pounds on the outcome of a court case involving the death of a professional football player.

Could this unsavoury business get any murkier? I guess we'll find out in due course.

I don’t see why TLG feels it’s murkier. It’s quite a common occurrence in litigation, as the costs are as we’ve seen quite high. Plus the individuals, or it may be an institution, who fund these are extremely diligent. They don’t throw money away on a whim.
Unless it’s a sufficiently distant entity of the directors/shareholders, to be classed as independent by the auditors. I think it’s a good thing.
Fingers crossed we’ll win the case. But litigation can blow up in your face on a judges decision. So it’s not over til it’s over.

Totally agree, normal practice, a bit like "no win no fee".

I don't read much I to "third party". Wouldn't be surprised if it wasn't someone involved in the club or even our legal company themselves. They would be the ones who would have the best idea of how it will go.

So if we had 5mill from the insurers and 12mill from a third party. The club have recouped the transfer fee?

Just about covered it BUT I don't think it's the money that is important to Tan, it's the saving face aspect of the whole thing.

I thought we owned the stadium ?

We do. But I think it’s in the holding company, not the trading/club ltd co. If so, standard practice to protect the asset if trading Co went into liquidation of any sort.

Dave Sugarman aka TLG:



So we now have a situation whereby an unknown third party is apparently seeking to make a large profit by gambling millions of pounds on the outcome of a court case involving the death of a professional football player.

Could this unsavoury business get any murkier? I guess we'll find out in due course.

I don’t see why TLG feels it’s murkier. It’s quite a common occurrence in litigation, as the costs are as we’ve seen quite high. Plus the individuals, or it may be an institution, who fund these are extremely diligent. They don’t throw money away on a whim.
Unless it’s a sufficiently distant entity of the directors/shareholders, to be classed as independent by the auditors. I think it’s a good thing.
Fingers crossed we’ll win the case. But litigation can blow up in your face on a judges decision. So it’s not over til it’s over.

Yes this does happen quite a lot in litigation but even so it does come across as a murky business.

Here we are dealing with the death of a football player and suddenly we have 3rd parties getting involved because there is a chance they can make a lot of money out of it. Sorry but this practice is making me feel sick.

Sadly we’re dealing with both the personal side with the death of a young man and a business . and as cold as it may sound, the club/business has to survive. So it’s a business decision to hopefully get to a moral victory of Nantes (their insurers) paying for their business negligence, which cost the business entity of CCFC a lot of money.