An idea... (1 Viewer)

[Sky Blues]

Just had an idea pop into my head. There maybe 101 holes you can pick in it - and I'm sure you all will point them out to me! But here it is:

Could the fans, through the Sky Blues Trust, buy the Higgs share of the Ricoh?

If I remember correctly CCFC Ltd loses the first right to that share when it is liquidated. Isn't the charity looking to sell and get back what it put into it which, from memory, I think was about £6million?

Now, the common consensus is the fans alone could not afford the tens of millions Sisu would probably want to get lost, but maybe, just maybe, they could raise enough money to buy half the stadium.

Why would we do that you ask?

Well, the fans would then have a voice and could tell Sisu "come and talk to us". If a deal could be done, fan ownership should ensure that the football club gets the very best deal possible. It would also be a way of giving the fans a lasting and protective stake in the football club.

If Sisu did not want to talk to the fans, want to continue in Northampton and the club is eventually liquidated, well then the fans are already have the infrastructure in place to restart the club. And, with a share in the ownership of the ground, they would have a stake in the food and beverage income too...

Since neither side appears to be willing to sit down and talk, and with many fans saying a phoenix club is a non-starter before CCFC is gone for good (or at least judged to be never returning to Coventry), could this be a third way?

Instead of protests which, although excellent, appear to so far be falling on deaf ears, maybe we could unite behind a constructive fundraising drive that could one day secure a permanent voice for the fans in the future of the football club in whatever form that ends up taking.

What do you all think?

 

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[Manchester_sky_blue]

I see where you are coming from but SISU have made it plain that they want total control of the Ricoh and nothing less. I fear that if we were to buy the Higgs share that it would only kill off any chance of a Ricoh return. If the club refuse to come back, what does the trust do with half an empty stadium then?

 

[ConnorDevine]

I think this is a fantastic idea, offer shares in a company to fans, offer each share at £10 and then divide the company up according to how many fans invest, I'm sure local businessmen would buy up a £1000 or so, some fans might pay their season ticket money in and someone's nan might chuck in a tenner, then if we raise enough for out half have this company represented by the largest share holders and an individual spokesperson who's opinion is that of the fans in various inter company polls

 

[TurkeyTrot]

My guess is CCC would veto it as they would want the buyer to own the football club too. What's stopping "someone" close to SISU doing the same thing then selling straight to SISU or Otium or whatever they call themselves.
Raising the money would be one thing but them raising hundreds of thousands of pounds more to defend the inevitable legal challenge would be another thing...

 

[EasternGreenSkyBlue]

Its nearer to 10m for a start. So you would need 10,000 to put £1000 in. I'm not sure about anyone else but the way the economy is today people dont have a spare grand floating around.

 

[Sky Blues]

My guess is CCC would veto it as they would want the buyer to own the football club too. What's stopping "someone" close to SISU doing the same thing then selling straight to SISU or Otium or whatever they call themselves.
Raising the money would be one thing but them raising hundreds of thousands of pounds more to defend the inevitable legal challenge would be another thing...

I don't know what the council would want, but they might they not look a bit daft if they tried to stop the community buying into a community asset? And that would be the difference between the fans trying to buy it and anyone else trying to buy it. Sadly, most land purchases will come with some legal fees, but yes they might be higher in this case than others...

We wouldn't be the first set of fans to own their club's ground. Chelsea's fans bought Stamford Bridge to protect it from developers: http://www.bbc.co.uk/news/business-15481301

 

[Sky Blues]

Its nearer to 10m for a start. So you would need 10,000 to put £1000 in. I'm not sure about anyone else but the way the economy is today people dont have a spare grand floating around.

Ah yes, maybe I got CCFC's sale price for its F&B income mixed up with the Higgs half-share price. I don't think we know how much Higgs would want for their half-share exactly, but I have now read it has been estimated at £10m, which I accept could put this idea beyond the reach of the regular fans. £6m would have undoubtedly been a stretch, but I guess £10m would probably be a stretch too far...

 

[Otis]

Hypothetically it's a really good idea as it puts the fans in a strong moral position and would be embarrassing for the club.

Any outsider looking in would see a stadium owned by the supporters of the club and the club itself playing away from its home in front of a tiny minority.

 

[James Smith]

Just had an idea pop into my head. There maybe 101 holes you can pick in it - and I'm sure you all will point them out to me! But here it is:

Could the fans, through the Sky Blues Trust, buy the Higgs share of the Ricoh?

If I remember correctly CCFC Ltd loses the first right to that share when it is liquidated. Isn't the charity looking to sell and get back what it put into it which, from memory, I think was about £6million?

Now, the common consensus is the fans alone could not afford the tens of millions Sisu would probably want to get lost, but maybe, just maybe, they could raise enough money to buy half the stadium.

Why would we do that you ask?

Well, the fans would then have a voice and could tell Sisu "come and talk to us". If a deal could be done, fan ownership should ensure that the football club gets the very best deal possible. It would also be a way of giving the fans a lasting and protective stake in the football club.

If Sisu did not want to talk to the fans, want to continue in Northampton and the club is eventually liquidated, well then the fans are already have the infrastructure in place to restart the club. And, with a share in the ownership of the ground, they would have a stake in the food and beverage income too...

Since neither side appears to be willing to sit down and talk, and with many fans saying a phoenix club is a non-starter before CCFC is gone for good (or at least judged to be never returning to Coventry), could this be a third way?

Instead of protests which, although excellent, appear to so far be falling on deaf ears, maybe we could unite behind a constructive fundraising drive that could one day secure a permanent voice for the fans in the future of the football club in whatever form that ends up taking.

What do you all think?

£6m is only £600 from 10,000 supporters but that assumes everyone has a spare £600 in their bank. Maybe the Higgs would take a lower offer from the fans if it wasn't breaking Charity rules and the Commission wouldn't shout at them as a result.

 

[blueflint]

would be better to start a fighting fund and take FL to court as they now admit they messed up

 

[mark82]

My guess is CCC would veto it as they would want the buyer to own the football club too. What's stopping "someone" close to SISU doing the same thing then selling straight to SISU or Otium or whatever they call themselves.
Raising the money would be one thing but them raising hundreds of thousands of pounds more to defend the inevitable legal challenge would be another thing...

Could own it on behalf of, and for the benefit of, the football club. That way could stop Sisu keeping it if they sell the club.

 

[SIR ERNIE]

I think it's a fantastic idea in principle.

I'd like to see the thoughts of OSB on something like this but if it all stacks up and is do-able I for one would definitely be up for it.

The fans ARE this club and it's precisely this kind of initiative that got the likes of Swansea on the road to recovery.

'Out of adversity comes opportunity'

great stuff mate, well done

 

[mark82]

I think it's a fantastic idea in principle.

I'd like to see the thoughts of OSB on something like this but if it all stacks up and is do-able I for one would definitely be up for it.

The fans ARE this club and it's precisely this kind of initiative that got the likes of Swansea on the road to recovery.

'Out of adversity comes opportunity'

great stuff mate, well done

Agree. Would be a good opportunity. Here are my thoughts:-

- Club play at stadium rent free.
- Club cover matchday costs.
- Concerts, etc used to cover any stadium costs with any profit being split between council and club.
- Look to purchase rights for F&B back from compass at earliest opportunity.
- Look to open further bars and restaurants on land to provide additional income (maybe sub-let).

 

[shoesmith81]

So who would get the ball rolling on this? I just think it's very complicated!

 

[mark82]

So who would get the ball rolling on this? I just think it's very complicated!

Definitely needs to be the trust. It is complicated but worth exploring. Discussions need to be had with both sides into whether they would be happy with it (that would mean talking to Sisu - I think the trust are not Sisu's favourite people at the moment). It's a potential way out of this mess though.

 

[Notorious B.I.Girimana]

Great idea in principle, would probably need the backing of a hoffman (don't laugh!) or a 'rich fan' to materialise though... And then said investor would probably be entitled to a larger controlling stake etc. Then again, my business knowledge is minimal! Put me down for a quid though

 

[mark82]

Great idea in principle, would probably need the backing of a hoffman (don't laugh!) or a 'rich fan' to materialise though... And then said investor would probably be entitled to a larger controlling stake etc. Then again, my business knowledge is minimal! Put me down for a quid though

If the trust owned it they couldn't/shouldn't expect to take a profit. It should be for the benefit of the club. Wealthy backers should only put in if they are ok with those terms. Some would do it for the publicity and could maybe include corporate matchday packages and/or some form of sponsorship for donations over a certain amount.