Statement responding to Football League admission...
As the club has consistently maintained, the players contracts have been registered by CCFC (Holdings) Ltd and registered by the Football League in the name of Holdings for over 10 years - way before Sisu took over the club.
Today's admission by the Football League confirms that.
Despite claims to the contrary, it should also come as no surprise to many of those who have been involved for many years at a senior level at the club and ACL - including former directors and a finance director - that this was the case.
The reason given for refusing the CVA and penalising the club by a further 10 points was their stated aim to undertake an investigation into that which they already knew the answer.
To be clear, players have been contracted to CCFC (Holdings) Ltd and registered as such by the Football League since well before Sisu's takeover when the club was relegated from the Premier League.
The mistake if there was one, was not that the players’ contracts should have been registered in the name of CCFC Ltd, but that the Golden Share should have been registered in Holdings, which owned the beneficial interest in the club.
At least now, with this out in the open and with the club reconstituted, we can get on with the business of running the football club and giving our full support to Steven Pressley and the team.
We would now suggest the City Council and ACL drop their efforts to force a change of ownership of the club - conduct which is now subject to oral argument in the request for judicial review.