Why do fans think CCFC should not be profitable? (1 Viewer)

[Astute]

Did I say you had said CCC were truthful then? Can you point it out to me please.

You have insinuated several things against me when they are all false.

 

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[Sky Blue Kid]

The high rent was a legally binding contract. Something you and others get very upset about being broken. SISU didn't negotiate a rent of £1.3 million. They inherited it. Yes they should have addressed it when they took over. No debate required on that. Problem was everybody's hero Ranson didn't think it was necessary. People still continue to think he was a good guy though. I assume because he spent money. Only problem with that was. It weren't our money.

Oh and the point you missed is that if the initial lease was longer the loan would have been easier to finance. Thus meaning the rent wouldn't of been so high. Now SISU weren't around when the initial lease was granted.

Que an abusive reply.

If you agree with my post, why the rhetoric(language designed to have a persuasive or impressive effect, but which is often regarded as lacking in sincerity or meaningful content.) Suppose you know no better... To finish two words.... No not "F**k Off"........ "Due diligence" Says it all really

 

[SkyBlueZack]

Richardson is far from innocent. You had said CCC were backed into a corner. My point was they backed themselves into a corner by not issuing a longer lease.

 

[Astute]

Alternatively they could have let it go into administration. Thus removing some or all of the loan. The loan that CCC set up which hampered ACLs viability from the outset.

Do you mean the mortgage where the arena would have gone as security to the mortgage lender and not SISU?

 

[SkyBlueZack]

TE="Astute, post: 1236007, member: 2627"]You have insinuated several things against me when they are all false.[/QUOTE]
Thanks for pointing them out. You said CCC were backed into a corner. I disagreed and give reasoning why. Insinuating CCC were backed into a corner insinuates they weren't at fault. That they had no other choice. The poor sods were being bullied.

 

[SkyBlueZack]

Do you mean the mortgage where the arena would have gone as security to the mortgage lender and not SISU?

What would the mortgage lender have done with it? I'm talking YB. At the start of this mess. They would have appointed an administrator? To achieve the best possible price? Which would be where SISU would buy it? That's what they do. They would have lent on the administrator saying the ricoh is only viable with the club as a tenant so you should sell to us.

 

[Astute]

The point is if CCC had issued a longer lease and was less reliant on the football club. It would have been difficult for SISU to distress it. Companies that are distressed are those in difficulty. The difficulty ACL were in was of the council's making.

What has the lease got to do with SISU? They were not on the scene. It was supposed to be 50% ours. But those running our club had different ideas on how to keep our club afloat.

 

[Astute]

What would the mortgage lender have done with it? I'm talking YB. At the start of this mess. They would have appointed an administrator? To achieve the best possible price? Which would be where SISU would buy it? That's what they do. They would have lent on the administrator saying the ricoh is only viable with the club as a tenant so you should sell to us.

It would have been open to bidders.

Are you going to say that it was a white elephant and only SISU would have been interested?

 

[Nick]

What has the lease got to do with SISU? They were not on the scene. It was supposed to be 50% ours. But those running our club had different ideas on how to keep our club afloat.

Because if it had a proper lease at the start, ACL wouldn't have been struggling so much whether it had the club or the Higgs.

 

[SkyBlueZack]

I give up.

 

[SkyBlueZack]

It would have been open to bidders.

Are you going to say that it was a white elephant and only SISU would have been interested?

No read the last sentence.

 

[Sky Blue Kid]

Another that completely misses the point. CCC ballsed up on the lease and financing it. They then were shit at running ACL. This led to a high rent for the club and a reliance on the club. CCC set ACL up to fail. I said it above. That isn't and wasn't the fault of SISU.
Why are people hellbent on defending a council who screwed over their football team out of spite against its owners.

Astute has already told you... SISU were NOT on the scene at that time.

 

[Grendel]

OK. We seem to be getting somewhere now.

So who has said that it was all the fault of SISU and nobody else is to blame? I blame quite a few from Richardson onwards. But you have others that will tell you people like Richardson are innocent of all charges.

What do you blame the council for?

 

[Grendel]

It would have been open to bidders.

Are you going to say that it was a white elephant and only SISU would have been interested?

Of course it was a a white elephant.

 

[Astute]

Because if it had a proper lease at the start, ACL wouldn't have been struggling so much whether it had the club or the Higgs.

How did you work that out Nick?

 

[Astute]

Of course it was a a white elephant.

You called it a white elephant that nobody but SISU would be interested in. You was wrong as usual and still try to say the same.

 

[Sky Blue Kid]

What do you blame the council for?

What do you blame SISU for?

 

[Grendel]

How did you work that out Nick?

The reason is the loan would have been financed at a far more preferential rate.

The only profit stream was from the rent received by the club. That effectively financed the loan.

A long lease would have made the business far more viable, allowed financing to be made over a much longer period and at a lower rate and therefore allowing he main tenant a far more sensible deal.

Once a lease goes below 50 years it's value becomes much lower.

 

[Grendel]

You called it a white elephant that nobody but SISU would be interested in. You was wrong as usual and still try to say the same.

No I was 100% correct. It was valueless and no one would touch it with a barge pole.

 

[Astute]

What do you blame the council for?

1, Trying to help CCFC with public money.

2, Having to have a loan on the arena that brought someone else in on it that would want an interest payment that was at a level to the risk. The repayments were then too much for a club already in trouble.

3, Having a short lease instead of being for the lifetime of the arena.

That is just for starters.

 

[Astute]

No I was 100% correct. It was valueless and no one would touch it with a barge pole.

And Wasps are a figment of your imagination I suppose.

 

[Sky Blue Kid]

A scenario for you Grendel.... You are SISU. You actually do "Due Diligence" and decide not to buy CCFC. What do you do next?

 

[Astute]

A scenario for you Grendel.... You are SISU. You actually do "Due Diligence" and decide not to buy CCFC. What do you do next?

He blames CCC for everything

 

[Grendel]

And Wasps are a figment of your imagination I suppose.

Wasps didn't buy a management company with a 40 year lease as that's a worthless company.

 

[covcity4life]

A scenario for you Grendel.... You are SISU. You actually do "Due Diligence" and decide not to buy CCFC. What do you do next?

jordan willis's girlfriend

 

[Astute]

The reason is the loan would have been financed at a far more preferential rate.

The only profit stream was from the rent received by the club. That effectively financed the loan.

A long lease would have made the business far more viable, allowed financing to be made over a much longer period and at a lower rate and therefore allowing he main tenant a far more sensible deal.

Once a lease goes below 50 years it's value becomes much lower.

OK. You make out that you know everything. So the loan would have been long term. Only paying interest by the sound of what you say was best. So how much would the endless payments have been?

 

[Astute]

Wasps didn't buy a management company with a 40 year lease as that's a worthless company.

They did. And got the lease extension by negotiation. Something SISU refused to do.

 

[Nick]

They did. And got the lease extension by negotiation. Something SISU refused to do.

They didn't, it was always about 100% and the long lease. The lease was approved before they even bought Higgs share.

They got 100%, a 250 year lease for not far from what they wanted off CCFC for 50% of a short lease. There's the difference, hence one is worthless.

 

[Grendel]

They did. And got the lease extension by negotiation. Something SISU refused to do.

They didn't and if you actually believe that there is little point in prolonging this discussion as your statement is nonsense.

 

[Sky Blue Kid]

jordan willis's girlfriend

I'll bet you're into S&M too

 

[Captain Dart]

OK. You make out that you know everything. So the loan would have been long term. Only paying interest by the sound of what you say was best. So how much would the endless payments have been?

I don't think term of the original Yorkshire Bank loan was tied to the length of the lease, it was risky loan at a commercial rate. What was the term of that original loan?

 

[Sky Blue Kid]

They didn't, it was always about 100% and the long lease. The lease was approved before they even bought Higgs share.

They got 100%, a 250 year lease for not far from what they wanted off CCFC for 50% of a short lease. There's the difference, hence one is worthless.

This should define what really happened, although the CT isn't trusted too much nowadays....
Any other highlights?
Wasps were granted an extension to the Ricoh Arena lease from 50 years to 250 years as a result of the deal to secure ACL.

The Ricoh Arena was given a value of £48.5m.

The club’s premiership rugby shares were valued at £9.7m.

Average attendance of 11,401 was up 29 per cent from 8,846 in the previous year.

Ticket income was up 42 per cent on the previous year.

 

[Nick]

This should define what really happened, although the CT isn't trusted too much nowadays....
Any other highlights?
Wasps were granted an extension to the Ricoh Arena lease from 50 years to 250 years as a result of the deal to secure ACL.

The Ricoh Arena was given a value of £48.5m.

The club’s premiership rugby shares were valued at £9.7m.

Average attendance of 11,401 was up 29 per cent from 8,846 in the previous year.

Ticket income was up 42 per cent on the previous year.

I'm not too sure what you are trying to tell me other than showing me the spin to make wasps look good?

 

[torchomatic]

Of course it was all the CCC's fault. They had SISU in the "Sharpshooter" and forced them into submission to buy into the high rent. What is the saying now?.... "Should have gone to Specsavers"

This is the kind of post that makes me laugh. Who set the rent too high in the first place? Wasn't SISU, wasn't CCFC. In fact, CCFC wanted the rent lowered within three months of moving into the Arena in December 2005, but PWKH and his ACL Angels refused.

 

[torchomatic]

OK where do we start just in case you are clueless.

SISU moved us to Northampton leaving the arena empty.

They said we would never move back to the Ricoh.

They continually said that they were building a new stadium.

They refused to negotiate on the Ricoh.

They knew that the arena would make a loss without a full time tenant. They knew that CCC couldn't keep losing money especially in these days of austerity where funds needed for people in need are even being cut.

SISU were refusing to take on the mortgage. Fisher even said that they would not have taken on the debt like Wasps did.

So what is your point on SISU not forcing CCC into a corner?

Another fine example of Fisher telling the truth when it suits. He's told constant lies about everything, oh apart from the bit when he said he wasn't interested in the Ricoh.