Astute
Well-Known Member
Subsequently became theirs yes. But not all correct.
Jon Sharp - BPA (2 Viewers)
- Thread starter NorthernWisdom
- Start date
Astute
Well-Known Member
The construction cost of the Millennium stadium was £121m. The construction cost of the Ricoh was £65,822,000. This included £7m to be fitted out and also other things like work to the railway.
chiefdave
Well-Known Member
So you think the accounts are fraudulent and Higgs conspired with this, or at the very least were unable to notice what you have, when they made a purchase using a price based on the figures contained in those fraudulent accounts?
Which part(s) do you believe to be incorrect?
SkyblueBazza
Well-Known Member
Do you mean that our owner (s) at the time were scheming to become outgoing owners negotiated on the club's behalf and agreed to extortionate costs for the club?
Why on earth would they do that?
Which I guess brings us back to the original comment about where did all the money go?
...onwards & upwards PUSB
Astute
Well-Known Member
So where does it say where the money went? Why don't you jump on CCC for saying only less than £1.8m came from CCFC?
SkyblueBazza
Well-Known Member
You will get shot by some on this forum with comments like that...how dare you suggest we are not a BIG club!
...onwards & upwards PUSB
SkyblueBazza
Well-Known Member
SkyblueBazza
Well-Known Member
That is how SISU would probably want it. Charge an avg £100 for the 'Real Fans' rather than £40 with loads more overhead in a bigger venue...profitability see?
...onwards & upwards PUSB
chiefdave
Well-Known Member
https://beta.companieshouse.gov.uk/company/03732876/filing-history
What is there to jump on CCC for? They are not claiming the £1.8m shown in the construction completion report is the only money CCFC ever put in to a new ground project.
SkyblueBazza
Well-Known Member
To all intent & purpose it is at least as much a part of the 2million or so population of 'Greater' Birmingham as Enfield is a part of London!
They have a much greater catchment population compared to Coventry...but only really face a similar competition for them overall
...onwards & upwards PUSB
SkyblueBazza
Well-Known Member
But like Walsall & possibly West Brom - for ACTIVE supporters of football within its realistic catchment area...Coventry probably has as many ManU, Liverpool, Arsenal, Spurs, Chelsea, Vile, Blues, Baggies, Leicester fans as it does ACTIVE Coventry fans. Just overall differing proportions.
...onwards & upwards PUSB
Grendel
Well-Known Member
So the cost of regeneration, levelling of the land, plans etc. were in addition to the £121 million? Really? I am struggling to find the information of total cost - can you provide a link so I can see what you are seeing please?
Grendel
Well-Known Member
I was thinking this. Astute is effectively implying that PWKH and Higgs conspired to commit a fraudulent act. This is the only conclusion I can draw from his contribution on this thread. That, or they were duped. Either way he should tread very carefully with such accusations.
olderskyblue
Well-Known Member
Well, they were in a bit of a mess a good few years ago. Tim told us that..... :-;
Astute
Well-Known Member
Twisting words again I see. Why is it that some people want to know everything about Wasps, CCC and Higgs but are not interested in discrepancies when it is CCFC. Especially from the days of Richardson.
You said that the Millennium stadium cost the same to construct as the Ricoh. And you wanted to know why as it was the same company that built both. Now you want to use land decontamination and other things that were dealt with by others.
Astute
Well-Known Member
You are saying that CCFC put 6.8m into building the Ricoh. CCC are saying that it was under 1.8m. This is the only conclusion that I can draw from your contribution to this thread....other than trying to say that the builders ripped us off. You should tread very carefully with such accusations.
Grendel
Well-Known Member
No accounts filed at companies house confirm the £6.8 million.
The construction report itemised the share capital separately.
Astute
Well-Known Member
And itemised where all of the money came from. And it stated less than 1.8m from CCFC. So why don't you come away from your keyboard and go to CCC and ask them where the missing money from CCFC went?
Grendel
Well-Known Member
The amount was sold to Higgs. If you think they were involved with something dodgy e mail pwkh.
Good luck.
skybluetony176
Well-Known Member
You mean the construction report that (and I quote) "isn't a legal document it's a construction report - what makes you believe what you are looking at has any legal credibility"?
Funny how when it's suits your argument it's chapter and verse and when it doesn't it has no credibility.
There's that good old Grendull duality again.
Astute
Well-Known Member
Oh well so are you accusing CCC of fraudulently advising the cabinet of who paid for what? Whatever Higgs paid CCFC didn't pay as they never got their money back. But here is the list yet again.
Council equity investment 10m
Sale of land Tesco (cash) 42.420m
Decontamination Tesco 17m
Interest earned 985k
Hotel premium 485k
Residual land 5m
Prudential borrowing 21m
Surplus on rent 248k
ERDF 4.374m
Section 106 64k
AWM direct payments for land 4.8m
Isle of Capri 5.9m
CCFC 1.758m
Net corporate interests 610k
Additional Yorkshire Bank borrowing 1.1m
Total funding 115,719,000
Grendel
Well-Known Member
Correct it doesn't. That was reponding to Astutes comment the figures had to be accurate a "sporting clubs don't" - a bizarre statement when it's accounts filed at companies house.
Good to see the posee had arrived though to help him outs
Shame for him it'd the equivalent of the Rumpo Kid from carry on cowboy.
Grendel
Well-Known Member
How much did Higgs pay? Also does it specify which organisation paid for the decontamination?
Astute
Well-Known Member
Nothing. Unless they paid the CCFC part as we were skint and it was part of the loan. Meaning CCFC paid nothing as Higgs never got back what they loaned back off CCFC.
And as you know Tescos paid for the decontamination. Cost them 17m. Try reading the funding I listed properly.
Astute
Well-Known Member
Don't need help to show that you either don't have a clue or are just coming out with your usual diatribe.
Grendel
Well-Known Member
Says the person who all along who stated that "we all know what ccfc paid" and when Chief Dave stated the correct figure you accused him of "plucking figures from the air" and wasn't even aware it referred to the amount that Higgs ultimately took on from the club.
Grendel
Well-Known Member
So if Higgs didn't pay anything who purchased the share capital then?
Astute
Well-Known Member
Astute
Well-Known Member
Nobody.
CCFC were given it for the 1.758m and loaned 6.5m in total IIRC off Higgs. Remember seeing something about 6.8m but was a long time ago so can't remember. The share was put up as security. As we all know SISU took over and refused to even negotiate. So as the money didn't get repaid it went to Higgs in leu of payment.
So you can twist it as much as you want. Higgs didn't buy it. They didn't even want it. But they did want their money back.
NorthernWisdom
Well-Known Member
Ones that don't repeat on me.
oldskyblue58
CCFC Finance Director
Bloody hell are there not more pressing things to do with CCFC than events that happened over 10 years ago?! Not to mention it is dead and buried because none of CCFC Ltd, CCFC H Ltd and Arena 2001 Ltd exist any more and have been struck off so will not be investigated
AEHC owned the shares it was not held as a security. The shares are disclosed as assets on the Charity accounts. They purchased the shares for 6.5m in total which was split settlement of an existing loan 2.5m, and 4m in cash. that cash was used by CCFC to repay Robinson etc £2m to cancel existing loans and Robinson etc then lent the company a new £2m loan.
CCFC invested an initial net 4.8m which was made up of moneys spent on the project £18m less £13.2m debts for the work done they could not pay. Subsequently to that they invested another £2m (the first GR etc loans) taking the total to £6.8m. The additional £2m is what appears on the council report. However CCFC then sold their shares in ACL to AEHC for £6.5m meaning the actual final net investment in the stadium project was £300k and even that could be argued only to have been unpaid interest on the debts and loans and not really construction costs.
one of the biggest mysteries has to be what in hells name were the board of CCFC doing spending £18m on land that they did not own!
Wont comment more than that because it has no bearing on the solution to the state CCFC are currently in
AEHC owned the shares it was not held as a security. The shares are disclosed as assets on the Charity accounts. They purchased the shares for 6.5m in total which was split settlement of an existing loan 2.5m, and 4m in cash. that cash was used by CCFC to repay Robinson etc £2m to cancel existing loans and Robinson etc then lent the company a new £2m loan.
CCFC invested an initial net 4.8m which was made up of moneys spent on the project £18m less £13.2m debts for the work done they could not pay. Subsequently to that they invested another £2m (the first GR etc loans) taking the total to £6.8m. The additional £2m is what appears on the council report. However CCFC then sold their shares in ACL to AEHC for £6.5m meaning the actual final net investment in the stadium project was £300k and even that could be argued only to have been unpaid interest on the debts and loans and not really construction costs.
one of the biggest mysteries has to be what in hells name were the board of CCFC doing spending £18m on land that they did not own!
Wont comment more than that because it has no bearing on the solution to the state CCFC are currently in
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