@alunthorne: "Got a cracking Sky Blues exclusive for tomorrows Teleraph" (1 Viewer)

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J

Jack Griffin

Guest
grego_gee said:
Oh sugar, if this happens it is really bad news.
Its the council who are responsible for the structure of the Ricoh ownership and how CCFC are in that! Or out of it! god bless them!

:pimp:

:
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So no blame attaches to CCFC who failed to finance the stadium build but the council who pumped in nearly £80M and of which only £21M is being repaid are at fault..
We are in denial about who owns this stadium, it is essentially the people of Coventry and we shouldn't let a hedge fund steal it. :facepalm:
 
sky blue john

sky blue john

Well-Known Member
sky blue john said:
Grendel and grego are obviously happy with the 70million debt soon to be 100million that we will be paying interest and fees on making us uncompetitive on the pitch.
Please explain your reasoning for this ?
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Your silence is deafening guys you normally have so much to say ?
 
Blue Maniac

Blue Maniac

Member
Sub said:
brenda guilford saying appleton done minimal took highest bidder then thrown it to the FL to deal with not looked at long term future of club, long way to go in administration still and ACL could still contest the admistration, new owners have to prove thye have capital and plans to play in coventry, credit rating of new company not good can be improved by putting money in
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Appleton is the administrator, it's his job to get the best deal for creditors. Nothing more or less than that. The future of the club is none of his concern.
 
Sub

Sub

Well-Known Member
Blue Maniac said:
Appleton is the administrator, it's his job to get the best deal for creditors. Nothing more or less than that. The future of the club is none of his concern.
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thats true but brendon guilfoy a FOOTBALL Administrator said that appleton does not seemed to have looked at the bigger picture he has done the minimal and left the FA to deal with the rest of the shit
 
G

Godiva

Well-Known Member
If it happens - and quick - it could be the move needed to secure the club at least 3 more seasons at the Ricoh. It will see the Higgs people leave and the a new management at ACL.
But then I think there's a risk Joe Elliott or Gary Hoffman gets on ACL board and that would most likely kill off any chance of an amicable relationship beween the club and ACL.
 
torchomatic

torchomatic

Well-Known Member
PH4 said in his statement he'd met Appleton, had no problem with him and he'd done everything by the book. Not sure why people are having at go at Appleton. He did his job and SISU were always going to get it.

Sub said:
brenda guilford saying appleton done minimal took highest bidder then thrown it to the FL to deal with not looked at long term future of club, long way to go in administration still and ACL could still contest the admistration, new owners have to prove thye have capital and plans to play in coventry, credit rating of new company not good can be improved by putting money in
Click to expand...
 
Sub

Sub

Well-Known Member
torchomatic said:
PH4 said in his statement he'd met Appleton, had no problem with him and he'd done everything by the book. Not sure why people are having at go at Appleton. He did his job and SISU were always going to get it.
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not having a go just repeating what was said and as stated before he is not afootball administrator so may of not looked at the bigger picture :)
 
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F

fleebagfisher

New Member
But we dont own it. And nor should we own it. The council coffers are not for sports arenas. The club should own the ground no matter how much we collectively dislike the thought that is how it should be ... No matter who wants to buy the club have you not noticed them all saying they want to buy the ground too??
 
Sub

Sub

Well-Known Member
fleebagfisher said:
But we dont own it. And nor should we own it. The council coffers are not for sports arenas. The club should own the ground no matter how much we collectively dislike the thought that is how it should be ... No matter who wants to buy the club have you not noticed them all saying they want to buy the ground too??
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the problem is are owners are not to be trusted are they ? yes the club should own the ground but what are SISU going to do with the ground ? mortage it to the hilt ? filter money away from the club ? their past record does not give confidence and the fact they lie does not help either !! Delui, igwi, brody are no longer anything to do with SISU or CCFC according to seppala well feck me who are the directors of otium ?? !!
Sisu should never own the ground ! imho
 
torchomatic

torchomatic

Well-Known Member
valiant15 said:
To your delight.
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Not at all. Take your head of your arse and read that ive said on many occasions that id be happy for sisu to leave tomorrow. My crime has always been my criticisms of acl which it seems cant be tolerated.

Sent from my GT-S5830 using Tapatalk 2
 
V

valiant15

New Member
torchomatic said:
Not at all. Take your head of your arse and read that ive said on many occasions that id be happy for sisu to leave tomorrow. My crime has always been my criticisms of acl which it seems cant be tolerated.

Sent from my GT-S5830 using Tapatalk 2
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Of course you would.
 
lordsummerisle

lordsummerisle

Well-Known Member
Jack Griffin said:
So no blame attaches to CCFC who failed to finance the stadium build but the council who pumped in nearly £80M and of which only £21M is being repaid are at fault..
We are in denial about who owns this stadium, it is essentially the people of Coventry and we shouldn't let a hedge fund steal it. :facepalm:
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Pumped in nearly £80million?

Absolute bollocks.
 
Grendel

Grendel

Well-Known Member
Sub said:
not having a go just repeating what was said and as stated before he is not afootball administrator so may of not looked at the bigger picture :)
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Guilfoyle is I assume then. As popular in Plymouth as sisu are here is mr guilfoyle. Also did he not precide over Luton as well?
 
bigfatronssba

bigfatronssba

Well-Known Member
<p>
grego_gee said:
CCFC started the development of the stadium, the council stole it off us in the first place!</p>
<p>&nbsp;</p>
<p><img src="images/smilies/hat.gif" border="0" alt="" title="Pimp" smilieid="48" class="inlineimg" />
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My word, have you been to the police with this shocking information?

This changes my whole opinion now, I never realised the council forcibly took ownership of the Ricoh against the clubs will.

Why have you kept this information to yourself all these years? Has the secret police division of Coventry Council threatened you as well?
 
grego_gee

grego_gee

New Member
bigfatronssba said:
<p>

My word, have you been to the police with this shocking information?

This changes my whole opinion now, I never realised the council forcibly took ownership of the Ricoh against the clubs will.

Why have you kept this information to yourself all these years? Has the secret police division of Coventry Council threatened you as well?
Click to expand...

The development was started by CCFC who could not find the resources to complete it.
The council took it over.
I am not sure who originally purchased the site but it was certainly a planning problem for the council, a gasworks with contaminated land. It cost £24m and needed £17m to be spent on decontamination. Because it was a gasworks which was I believe originally run by the town council, historically they had some responsibility for this contamination as the original providers of "Town gas" manufactured from coal. By the time of its disposal it was I assume under the ownership of BGas who were by then using natural gas from the North sea and not causing pollution. Normal expectation for decontamination of a site is that the polluter pays.
The build was financed largely by the sale of a portion of the site to Tescos who paid £60m for their part of the site which was inflated because of the added value from the development and draw of the football arena.
Another contribution came from a 50 year lease for the finished Arena sold to ACL for £21m.
The final build cost was £65m, but that includes casino, hotel & exhibition spaces that are of no interest to CCFC. The total cost of the project was £118m including cost of land and fees etc.

Despite being one of the original polluters and arguably responsible for the £17m decontamination costs, the council only invested a nominal £10m, less than the cost of decontamination.
The majority of the cost, £81m came from the Tescos land sale and the sale of the lease to ACL for the finished complex.
That £81m was an increase in the value of the land due to its development as a commercial centre.
It is arguable who "owns" or can claim responsibility for that increase in value.

:pimp:
 
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B

Broken Hearted Sky Blue

Well-Known Member
grego_gee said:
The development was started by CCFC who could not find the resources to complete it.
The council took it over.
I am not sure who originally purchased the site but it was certainly a planning problem for the council, a gasworks with contaminated land. It cost £24m and needed £17m to be spent on decontamination. Because it was a gasworks which was I believe originally run by the town council, historically they had some responsibility for this contamination as the original providers of "Town gas" manufactured from coal. By the time of its disposal it was I assume under the ownership of BGas who were by then using natural gas from the North sea and not causing pollution. Normal expectation for decontamination of a site is that the polluter pays.
The build was financed largely by the sale of a portion of the site to Tescos who paid £60m for their part of the site which was inflated because of the added value from the development and draw of the football arena.
Another contribution came from a 50 year lease for the finished Arena sold to ACL for £21m.
The final build cost was £65m, but that includes casino, hotel & exhibition spaces that are of no interest to CCFC. The total cost of the project was £118m including cost of land and fees etc.
Despite being one of the original polluters and arguably responsible for the £17m decontamination costs, the council only invested a nominal £10m, less than the cost of decontamination.
The majority of the cost, £81m came from the Tescos land sale and the sale of the lease to ACL for the finished complex.
That £81m was an increase in the value of the land due to its development as a commercial centre.
It is arguable who "owns" or can claim responsibility for that increase in value.

:pimp:
Click to expand...
Certainly not Sisu though is it?
 
bigfatronssba

bigfatronssba

Well-Known Member
<p>
grego_gee said:
The development was started by CCFC who could not find the resources to complete it.</p>
<p>The council took it over.</p>
<p>I am not sure who originally purchased the site but it was certainly a planning problem for the council, a gasworks with contaminated land. It cost £24m and needed £17m to be spent on decontamination. Because it was a gasworks which was I believe originally run by the town council, historically they had some responsibility for this contamination as the original providers of &quot;Town gas&quot; manufactured from coal. By the time of its disposal it was I assume under the ownership of BGas who were by then using natural gas from the North sea and not causing pollution. Normal expectation for decontamination of a site is that the polluter pays. </p>
<p>The build was financed largely by the sale of a portion of the site to Tescos who paid £60m for their part of the site which was inflated because of the added value from the development and draw of the football arena. </p>
<p>Another contribution came from a 50 year lease for the finished Arena sold to ACL for £21m. </p>
<p>The final build cost was £65m, but that includes casino, hotel &amp; exhibition spaces that are of no interest to CCFC. The total cost of the project was £118m including cost of land and fees etc.</p>
<p>Despite being one of the original polluters and arguably responsible for the £17m decontamination costs, the council only invested a nominal £10m, less than the cost of decontamination.</p>
<p>The majority of the cost, £81m came from the Tescos land sale and the sale of the lease to ACL for the finished complex.</p>
<p>That £81m was an increase in the value of the land due to its development as a commercial centre.</p>
<p>It is arguable who &quot;owns&quot; or can claim responsibility for that increase in value.</p>
<p>&nbsp;</p>
<p><img src="images/smilies/hat.gif" border="0" alt="" title="Pimp" smilieid="48" class="inlineimg" />
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Ive read that all the way through. Ive seen Acl, Tescos and the Council put money in, yet the 'victim' as you claim put in nothing.
 
grego_gee

grego_gee

New Member
bigfatronssba said:
<p>

Ive read that all the way through. Ive seen Acl, Tescos and the Council put money in, yet the 'victim' as you claim put in nothing.
Click to expand...

I have not claimed anything, nor said anyone is a victim.
The figures are taken from the report to cabinet on 27 June 2006.

:pimp:
 
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bigfatronssba

bigfatronssba

Well-Known Member
<p>
grego_gee said:
I have not claimed anything, nor said anyone is a victim.</p>
<p>&nbsp;</p>
<p><img src="images/smilies/hat.gif" border="0" alt="" title="Pimp" smilieid="48" class="inlineimg" />
Click to expand...

You claim the council stole the project. Whoever they stole it off would surely be a victim?
 
grego_gee

grego_gee

New Member
bigfatronssba said:
<p>

You claim the council stole the project. Whoever they stole it off would surely be a victim?
Click to expand...

Ok, yes in my first post I did say "CCFC started the development of the stadium, the council stole it off us in the first place!"

It is true, the whole development was initially started by CCFC.
"Stole" was perhaps a little strong but the council have "railroaded" it, have they not? They jumped on board and now they own it. I am not sure if CCFC ever actually bought the original site but I think they at least had negotiated an option to buy it.

Yes the council rescued it when CCFC ran out of steam to carry it through. So for that they are due our thanks.
But it is primarily a football stadium development that CCFC started! The outcome is council owning the freehold and we are renting it back off them on a daily basis for 23 days a year.

All development within a planning authority has to be done with their approval but it is not normal that they jump in and take the benefit from development premiums.

I think this may possibly be called into question under examination in the Judicial review.

:pimp:
 
J

Jack Griffin

Guest
The council bought the site, Fisher said so in the final fans forum, they paid between £13M and £18M for it.. it angers me that people keep posting they put in only £10M, they did so much more than that.

1) Land purchase - £13-£18M
2) Grant £10M
3) Investment of profit from land sale to Tesco - £45-50M
4) Loan to complete project £22M (which terms of ACL lease cover & there is still approx. £14M owing on that)

That is the scale of the council support & it is all documented.

And the Higgs charity put in another £6M

However the net contribution of the companies now owned by SISU is practically £0.
 
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