Nick
Administrator
Coventry council leader Ann Lucas says she is still willing to talk about selling the Ricoh Arena to anyone willing to make an offer.Her comments - made in the council chamber on Tuesday - appeared to be an invitation to Sky Blues’ owners to name their price.
Long-standing Tory councillor and former Lord Mayor Tim Sawdon asked Coun Lucas if she remained willing to discuss a Ricoh sale with Joy Seppala, boss of Coventry City’s hedge fund owners Sisu.
He read out comments in the Telegraph by club non-executive director Mark Labovitch in response to our story that Ms Seppala had rejected a renewed rent offer by part council-owned Arena Coventry Limited.
ACL - whose directors include council executive Martin Reeves and Chris West - wanted the club, under an offer made via the Football League, to return as tenants rent-free this season, then pay £100,000 for the following two seasons - as opposed to playing ‘home’ games in Northampton, while developing plans for a new stadium in Warwickshire.
Coun Sawdon quoted Mr Labovitch saying about talks held between Coun Lucas and Ms Seppala on November 6: “We clearly understood from Ann’s statement on October 30 that she was prepared to discuss ownership. We were surprised when that turned out not to be the case.”
Ann Lucas told the council: “I’ve promised any conversation I have with Ms Seppala would remain private. Anything that’s come out of that room has not come from me.
“I’ve made it clear and it’s no secret I am prepared to talk to, and do business with, any sensible legitimate business person with any offer to make. Nothing is ruled in and I have never ruled anything out.
“I’ve never said I would favour any organisation and I’ve definitely not said I would disfavour any organisation either.”
In response, Mr Labovitch told the Telegraph: “We have consistently said that no club can be financially viable unless it owns its own stadium and the revenues that go with it.
"The strange experiment of separating the club from its stadium has not worked for the previous owners or current ones.
“If Coun Lucas really meant it when she said that she would discuss a sale, she should get on the next train.
“We would expect to go about such a transaction in the normal way, which is for each party as a first step to instruct a reputable chartered surveying firm to carry out an independent valuation.
"Both the council and ACL are well used to this, having periodically commissioned independent valuations.
“If the council do not want to enter into such discussions now, please could whoever the decision-maker is say this in a straightforward manner – no more statements by London-based spin-doctors, no more off-stage whispers on podcasts, no more “offers” via third parties with a catch in the small print. Just tell it straight.
“There is no point at all in dredging up the discredited landlord-tenant debate. We cannot return to the clutches of a rapacious landlord which has done so much to damage the club through two generations of ownership.”
We revealed last week the council’s own High Court papers stated a “council valuation” late last year was £6.4million - based on no rent from the club. It appeared to be for the Ricoh business currently conducted by ACL on a leasehold basis, rather than the freehold sought by Sisu.
