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skyblue2k
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Has ACL ever offered the rent deal to Otium or CCFC that it offered to administrator? (1 Viewer)
sky blue john
Well-Known Member
italiahorse
Well-Known Member
People don't understand what happened here as it has never been explained.
The offer was 150K for 10 years. Which looks on paper as unbelievable. But it could not be accepted at the time by the administrator. Why ?
I can guess that the administration process cannot have provisos, but was it withdrawn by ACL after the CVA was rejected, and why?
Could they not delay the CVA process into the season to sort out something acceptable to both parties, like other clubs have, or did SISU say no and threatened FL with a withdrawal from the league and forcing PA to close the process?
Why did ACL not spill the beans between the JR being thrown out and the appeal, or was there nothing to spill ?
So many questions still unanswered.
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italiahorse
Well-Known Member
It matters because some of us believe that, if SISU do have a new stadium plan, that after 3-5 years it will leave so much debt in the club that it will be unviable.
We believe that SISU need to come back to the Ricoh either as owners or renters and we need to understand why this cannot be achieved.
SIR ERNIE
Well-Known Member
It cannot be achieved as owners because SISU will not pay full market value.
It cannot be achieved as renters because SISU will not rent. Even though that option makes total sense to the football club.
covcity4life
Well-Known Member
lol ACL may look bad, ignore thread, lets move on,quarantined
its like the x-files.
its like the x-files.
Cheshire Sky Blue
New Member
Why do you feel it is ACL's role to make continued new offers? What ACL have offered is known and in the public domain. What is also known is that SISU have made it abundantly clear they will never return as anything other than owners of the Lease and Freehold.
I did initially support SISU, but not now and I doubt I ever will again (Even though JS seems to have parked Fisher in a side street)
Don't waste your time trying to work out the logic behind SISU's actions. You will have more chance in finding Lord Lucan, Shergar and the Unicorn.
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italiahorse
Well-Known Member
I believe your right, but I want to see offers that have been made in black and white, not just summations from the limited information.
Once I know what the future is I can move on. If it's a new stadium then I will not wait around for the inevitable end in 5 years time.
I can't watch SISU glorify in the building of an inferior stadium and land CCFC with so much debt that todays debt will look like a pi$$ in the ocean.
If SISU are saying that they will finance all losses without leaving it in the club during this period then please say so.
Can't blindly support this process like some people on here.
italiahorse
Well-Known Member
covcity4life
Well-Known Member
sisu go home
New Member
ACL have already established that they don't need to charge Sky Blues what they did to be sustainable as a business, they've even advertised it. So what annoys me is why the ridiculous rent fees? They now let Sky Blues Ladies rent the stadium significantly cheaper - why wasn't that deal given to Coventry before it was too late? Sorry, I agree with most people that Sisu are wankers and should leave, but the council are letting ACL fuck about with our tax money and hold our club to ransom. Ask anyone in football, the club should own their stadium - the council and ACL have made sure that's not going to happen, and they will also make sure we cannot have a new stadium in Coventry no matter how far fetched even the idea is. Check-Mate to ACL & the council, who get to come out of it smelling like roses.
ohitsaidwalker king power
Well-Known Member
I agree with you SGH- however.
CCC last week opened the batting didnt they with a "lets talk" invite, and ACL followed suit thereafter through PKWH- and whilst I agree these casual invites need a formal approach with a clear statement around rental fees and going in points for negotiations, Joy has clearly said- "No freehold- No talks".. and so its clear that unless ACL and CCC agree to the freehold being at least on the table SISU/OTIUM are not going to talk.... its madness isnt it?
The real madness is the club and stadium not being united. That the stadium profits from the clubs business, but the club doesn't profit from the stadiums business.
skybluetony176
Well-Known Member
the real madness is a team from Coventry playing its home games in Northampton. regardless of who done what that just shouldn't happen.
sisu go home
New Member
Yep! I think at this rate, ACL & the council should look into bidding for the club instead of Sisu/Otium bidding for the ground; might be a quicker resolution and better use of my tax money. We'd still end up with sinister & corrupt owners though, but I can handle that if they're doing it in Coventry.
ohitsaidwalker king power
Well-Known Member
Agree- access to "other" revenue streams is vital for CCFC sustainability-but refusing to pay rent(any)- and moving the club away from its City isn't a way to progress those negotiations I fear?
The Prefect
Active Member
You're right... The club did sell its rights to these revenue streams - for which they were paid large sums of money.
The best thing to do is for the club to buy them back... But that's not SISU's style.
The Prefect
Active Member
You're right - it's madness.
This is Joy's tactic of (seemingly) saying that there is room for negotiation when there is not.
To buy the freehold SISU would have to offer the Council a return on their investment. If the net cost of the Arena was £40m ten years ago if the Council looked for 5%pa the freehold would cost way in excess of £60m. They then need to compensate ACL for the 40+ years of their lease. A payment to ACL to cover 40 years of profit (based on EBITDA and not net profit) might cost way in excess of £30m. They then need to compensate Compass - that will cost another few million.
Realistically for Joy to 'own the freehold' she'll need north of £100m so talks won't happen because the Council and ACL don't need to sell.
Joy is very careful with her words - she always seems to hint that a deal can be done before she makes it a non-starter with pre-conditions like the freehold.
I'd suggest the council call her bluff and give her the figures. I'd ask Joy for proof of funds of between £120m and £150m to start talking. If she can raise that (and I really hate SISU) she would be welcome to the Arena and ACL - with knobs on!
sisu go home
New Member
Why not let the council keep the Arena, thus still bringing in revenue, and let Coventry City buy the stadium on the grounds for Sky Blues use and not to be sold on without permissions. They're both on the same premises but could be treated as different businesses and everybody gets what they want.
SIR ERNIE
Well-Known Member
Interesting thread this, insofar as almost everyone, regardless of their starting position, is arriving at the same conclusion that in spite of the best interests of the football club, SISU won't rent and in reality can't buy.
In plain English that means no Coventry City at the Ricoh under these owners.
Surely on that basis alone every fan must recognise that we must do everything possible to remove these owners.
NOPM + campaign/lobby/protest SISU out.
In plain English that means no Coventry City at the Ricoh under these owners.
Surely on that basis alone every fan must recognise that we must do everything possible to remove these owners.
NOPM + campaign/lobby/protest SISU out.
I still do not agree that the club needs to own the freehold, but I must be missing something. In my mind if the club were to buy the freehold, I think it should be at the total amount the CCC has invested. I am not too sure if the club should pay more.
I had this discussion only the other day in another thread and I think the total price were calculated to somewhere around £25m.
The club don't need to compensate ACL - the club needs to buy ACL. The price could be around £6m to the Higgs charity and taking over the £14m council loan for the CCC shares.
skybluetony176
Well-Known Member
skybluetony176
Well-Known Member
you're right Godiva. the club needs to own ACL, its that simple.
all sh1tsu need to do now is put the same amount of effort that they put into taking the club away from the city into buying ACL under one off the CCFC Group of companies banners.
they best get all the books in 1st for these companies, i cant see any deal going ahead until this happens. should all the parties be willing to do a deal that is.
Just out of curiosity ... everybody says 'sisu took the club away to Northampton' ... but is it possible they didn't have other options?
It's no secret that CCC/ACL have supported Hoffman/Elliott/Haskel's interests in taking over the club.
What if ACL/CCC were in possesion of all the documents that has been leaked over the past months since say last summer?
What if CCC/ACL based their whole strategy on using the 'inside knowledge' to force a change of ownership?
skybluetony176
Well-Known Member
the problem is Godiva i don't think they explored any other options, i have seen or heard no evidence that convinces me they did. they seemed to have put all their efforts into taking the club away from the city.
Well, maybe we'll be wiser when the JR goes before the judge ... I think it's a vocal hearing and it could possibly give us some answers. In any case, I don't think much will happen before.
skybluetony176
Well-Known Member
agreed. i long for a day when all we have to bitch about is football matters, currently their would be nothing to bitch about if it wasn't for politics.
skybluefred
New Member
Sorry that doesn't make sense--If you rent a property of any kind you do not get a share of the landlord's profit's.
You also seem to forget that CCFC owned at least a share of the F/B profits but chose to sell that right for a sum that
I believe was £5m. Unfortunately even if sisu owned the Stadia the Club and Stadia would still not be united,I dare not
hazard a guess at the rent the Club would be charged to play there.
skybluefred
New Member
IF= the biggest word in the English Language.
Well I could say that selling our stadium and all income streams were not the doing of the current owners. But it's a problem they have inherited.
What previous owners received is irrelevant now - all that money is long spent.
My priority no 1 is to see the club and stadium reunited.
shy_tall_knight
Well-Known Member
fisher keeps bleating on about lack of access to revenue streams but they knew when they did their due diligence that these had been sold many years previously to the Higgs Trust. Do they expect that Higgs as a charity will just roll over and give back all these revenue streams for nothing ?.
When did they said they wanted anything for free?
