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CSI statement - business as usual

CSI this evening released a statement (here) via their facebook page in a bid to reassure all that all is ok, despite the problems with Snoras Bank.

The statement is on that link above or quite simply below...

CSI Statement on Snoras Bank Announcement

In the light of the recent events at Snoras Bank, Convers Sports Initiatives (CSI) would like to reassure its companies, staff, and the fans of its teams and events, that it remains very much business as usual. We are operationally unaffected by the Snoras Bank entering temporary administration.

CSI has been solely financed through the private wealth of its owners. Snoras Bank has never provided funding for the purchase of a CSI organisation, nor has it lent any money to these businesses after they have been acquired.

We continue to look at expanding the CSI business and hope to announce a number of further acquisitions in the near future as well as continuing to support our existing businesses.

What else can you say?

I guess we have to take CSI at their words and hope that they do not, like so many before them, end up letting us down...


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The Journalist

Writer: pompeyrug Mail feedback, articles or suggestions

Date:Thursday November 17 2011

Time: 11:23PM

Your Comments (oldest first)

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So what I said yesterday about there being separate limited liabilities - as in pretty much every other business - seems at this time to be correct.
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18/11/2011 07:49:00

The worry is players like Rocha and Herman who were put through the grief of admin previously (not to mention PFA that made the situation far worse) get a bit unsettled; the negative financial associations are disheartening since we know come Jan11 tax trials of Harry and Milan there will likely be more. As I said the finance side is unlikely be an issue it's just the associated negative publicity.
Report Abuse
18/11/2011 08:02:00

As far as CSI are concerned it sounds like positive news. I only hope the boss isn't implicated in the millions missing from the bank.
Report Abuse
18/11/2011 08:25:00

that is a major worry isnt it blue...
Report Abuse
18/11/2011 08:33:00


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