Supporters' group tells Coventry City FC owners to clarify stadium plans (30 Viewers)

[wingy]

Or you just completely made that up.

Not totally sure what Italias quoting there
but Byng knew as he was showing fans on the terrace at. Swindon away Aug/Sept. IIRC
Emails from June (don't know who from,but if he knew so did SISU,given that he was sitting in on those private meetings that Nick facilitated from here

 

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[Broken Hearted Sky Blue]

And it was apparently employees of SISU who told them IIRC. By showing them a copy of the Wasps prospective also IIRC.

Not totally sure what Italias quoting there
but Byng knew as he was showing fans on the terrace at. Swindon away Aug/Sept. IIRC
Emails from June (don't know who from,but if he knew so did SISU,given that he was sitting in on those private meetings that Nick facilitated from here

Before that Wingy.

 

[Ian1779]

Answer this one .

When we moved back and evidently while Wasps were talking to CCC, Sisu were still talking about leaving and building a new stadium.
What should CCC have done in this situation ?

No they didn't - they said own which was a massive change from build.

 

[martcov]

No they didn't - they said own which was a massive change from build.

How far are we with the "owned" stadium?

 

[letsallsingtogether]

Before that Wingy.

Well before that.
Remember Shhhhhhhhhhhhhhhhhhh

 

[Broken Hearted Sky Blue]

And it was apparently employees of SISU who told them IIRC. By showing them a copy of the Wasps prospective also IIRC.

Well before that.
Remember Shhhhhhhhhhhhhhhhhhh

Mind you couldn't understand why he didn't put it out there,and didn't want us to strange.

 

[letsallsingtogether]

Mind you couldn't understand why he didn't put it out there,and didn't want us to strange.

TBF we would have only been called liers, probably still will be.

 

[James Smith]

We moved back in September. If you are seriously suggesting that CCC had already not struck a deal you are in a fantasy land. Also we know for a fact Lucas would never sell the rights to Sisu anyway. That is now a known fact. So it is clear they did not want the club to own the stadium regardless of its intentions.

As I've said before it seems to me that it became personal at some point - Ann vs Joy. Our football club was a casualty of the fight.

 

[letsallsingtogether]

As I've said before it seems to me that it became personal at some point - Ann vs Joy.

Yes and all the subordinates on both sides were to scared to say or do anything.

 

[letsallsingtogether]

No someone who just responds to mindless shit like your post.

If you could spell his name it might give you 1% more credibility, than the 0% you have at present.

That's still more credibility then you have

 

[James Smith]

Can I be Bill Murray?

Can I be the Punxsutawney Phil?

 

[letsallsingtogether]

I just couldnt comprehend an out of town club moving here at the time, and there were many with the same view. I still find it hard to believe now.

Funny that but the ones that have been moaning the most about that are the ones who were happy at Shitfields.
I am not happy we moved away, I am not happy that Wasps are here, I am not happy the the 2 bitches wouldn't speak to one anotber.
But hey I am just a simple football fan.

 

[skybluetony176]

Well before that.
Remember Shhhhhhhhhhhhhhhhhhh

I seem to remember it was around easter time when murmurs of something big going down with the Ricoh first started reverberating. Didn't know myself at the time what it was but with the benefit of hindsight it could only have been Wasps showing more than a passing interest.

 

[Rusty Trombone]

Interesting statement. Is it not the case that the Council tried to get a reduction in the loan and only actually purchased at the full amount with serious reservations (odd as the stadium was a goldmine and certainly not a white elephant)?
.

No, not quite the case.

MR JUSTICE HICKINBOTTOM
Approved Judgment
R (Sky Blue Sports & Leisure Ltd) v
Coventry City Council
although it should be said that, in addition to the loan balance, the
hedging agreement required a payment of some £3.6m to buy it out, so that the full
buy out price was £19m, something not appreciated at this early stage.

 

[covmark]

Funny that but the ones that have been moaning the most about that are the ones who were happy at Shitfields.
I am not happy we moved away, I am not happy that Wasps are here, I am not happy the the 2 bitches wouldn't speak to one anotber.
But hey I am just a simple football fan.

Name one person that was happy we were at sixfields?

 

[Ian1779]

How far are we with the "owned" stadium?

Maybe a damn sight further if the council didn't sell out to a franchise....

 

[Rusty Trombone]

Sorry Italia you're wrong, that article is from 2013, it was disclosed in the JR that it reverted back to the original rent level.


Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors

I don't think it's particularly clear from this extract from the JR, depends what happens after the initial 3 years. Certainly could be read that it would go back to the contractual figure, could also be read that there would be an initial reduction, but doesn't exclude the possibility of further reductions.

By December 2012, if there was to be a rent deal as part of a wider agreement, the
figure of £400,000 appeared the most likely conclusion. That figure was discussed at
a meeting between SISU and Deloitte for the Bank on 10 December 2012, but clearly
not agreed; SISU wishing it to be a permanent future rent (albeit subject to a reduced
allocation of rates and food and beverage revenues for CCFC), whilst the Bank (like
ACL, at that time) considered that there should initially be a three year rental
reduction to £400,000 from the contractual figures.



However I think this initial reduction argument is then superseded by the next part anyway.

After the Council had purchased the Bank debt, thereby resolving that immediate
sticking point, negotiations over rent continued between CCFC and ACL. On 29
January 2013, Heads of Terms were agreed, involving rent at £400,000 from 1
January 2013.

This is the 'handshake deal' that Joy scuppered. No mention in this part of it being an initial reduction.

Although this is Jan 2013 I can't see anything about another £400k deal in Jan 14, so maybe the CT got mixed up, but happy to be proved wrong.

 

[letsallsingtogether]

Name one person that was happy we were at sixfields?

Don't need too just read the threads on here for that time you will see for yourself.
So I would say most of them from their responses some even said they hoped we never came back.

I don't need to mention names they and you know who they are.

 

[Nick]

Don't need too just read the threads on here for that time you will see for yourself.
So I would say most of them from their responses some even said they hoped we never came back.

I don't need to mention names they and you know who they are.

Other than RFC, who?

 

[italiahorse]

As I've said before it seems to me that it became personal at some point - Ann vs Joy. Our football club was a casualty of the fight.

Ann is one person not CCC. The whole CCC councillors voted for it.

 

[Calista]

Unfortunately you seem to fail to grasp what the term White Elephant means. Not much I can do about that.

The valuation before the bond? It is a valuation on the basis the bond succeeds and that Wasps are a success in the future business operations. It is not based on today it is a projection.

Two reasons Fisher appeared to be truthful. What are they?

- It suits my argument
- It suits my argument

No, there is just one reason - that it fits 100% with everything SISU have said and done all the way through. At every stage they have made absolutely clear that they didn't want to buy the stadium (or even half of it) with all the debt intact. So we don't own it. Which is surely a very good thing if it's a white elephant?

 

[Deleted member 5849]

Which is surely a very good thing if it's a white elephant?

It might yet be...

tbh the main problem is that I don't have faith in our owners to build us a ground if we need one, or indeed pick up the Ricoh cheaper later on when/if Wasps were to get bored/fold. There is however a certain logic to sitting tight and seeing if the price dips later, however. If I could guarantee they'd resolve the situation later on, I'd be more than comfortable with that approach.

It seems to boil down to which ruthless money oriented owners get bored/go bust first, however!

 

[Calista]

CET scum
Council Scum

Presumably all the reporters, all the city’s local government officers, and all the elected members from all the parties? I guess like Grendel you believe the whole lot of them have had an agenda to screw Coventry City Football Club, not just since SISU took over but for years before that? Not impossible, but a bit unlikely I think.

 

[italiahorse]

No they didn't - they said own which was a massive change from build.

"Tim Fisher, the Sisu-appointed club chairman, declined to respond to the MPs’ criticisms, telling the Guardian he wants to look ahead to the Ricoh return. However he maintains Sisu “have to own our own ground”. and that it is continuing with plans to build a new one."

Tim Fishers words not mine.
Why protect these idiots?
They turned down the deal in the summer of 2013 after TF initially warmed to it and gave it 2 days consideration.
I think they turned it down reference it was offered to the administrator.
Just over a year later they took the £100K part of that deal.

Concentrate your efforts on getting Sisu to stop messing with our club and get them to either put up or piss off.

 

[Broken Hearted Sky Blue]

And it was apparently employees of SISU who told them IIRC. By showing them a copy of the Wasps prospective also IIRC.

"Tim Fisher, the Sisu-appointed club chairman, declined to respond to the MPs’ criticisms, telling the Guardian he wants to look ahead to the Ricoh return. However he maintains Sisu “have to own our own ground”. and that it is continuing with plans to build a new one."

Tim Fishers words not mine.
Why protect these idiots?
They turned down the deal in the summer of 2013 after TF initially warmed to it and gave it 2 days consideration.
I think they turned it down reference it was offered to the administrator.
Just over a year later they took the £100K part of that deal.

Concentrate your efforts on getting Sisu to stop messing with our club and get them to either put up or piss off.

I would rather the later.

 

[Broken Hearted Sky Blue]

Latter got Wingy syndrome

 

[Jack Griffin]

name one person that was happy we were at sixfields?

rfc

 

[Ian1779]

"Tim Fisher, the Sisu-appointed club chairman, declined to respond to the MPs’ criticisms, telling the Guardian he wants to look ahead to the Ricoh return. However he maintains Sisu “have to own our own ground”. and that it is continuing with plans to build a new one."

Tim Fishers words not mine.
Why protect these idiots?
They turned down the deal in the summer of 2013 after TF initially warmed to it and gave it 2 days consideration.
I think they turned it down reference it was offered to the administrator.
Just over a year later they took the £100K part of that deal.

Concentrate your efforts on getting Sisu to stop messing with our club and get them to either put up or piss off.

Think you'll find Fishers words are clearly denoted with speech marks... “have to own our own ground”

The rest is a sentence created by author of said piece... of course you could always ask for clarity from said reporter if you like.

And on your other point for what must be the millionth time - other than the 400K offer which was rejected, every other rent offer had conditions attached.

One offer was only given to the club whilst in administration - so could not be accepted if club wished to exit admin
Hoffman's offer (if you can call it that) was an emotive piece of shit designed only to make for him and his associates.

If you spent more time looking at the actual facts rather than the dressed-up shit that the CET churned out you may realise that along with some horrible mis-management from SISU, the club have been fucked over by the council and the legacy will last for generations.

Sadly the only worry you have is whether you'll be able to sacrifice the pre-match ponce at the Ricoh to watch Coventry City on TV.

 

[Deleted member 5849]

rfc

That's an open goal though.

If this was QI that'd be a -100 point answer.

 

[Calista]

It might yet be...

tbh the main problem is that I don't have faith in our owners to build us a ground if we need one, or indeed pick up the Ricoh cheaper later on when/if Wasps were to get bored/fold. There is however a certain logic to sitting tight and seeing if the price dips later, however. If I could guarantee they'd resolve the situation later on, I'd be more than comfortable with that approach.

It seems to boil down to which ruthless money oriented owners get bored/go bust first, however!

These worries are very rational I’m afraid! It seems to me that the nature of SISU’s business is not to pay full price for anything. I’m a bit like that, which is why the Christmas presents people get from me are from the previous January sales.

It’s all very well if you can pick up a big stadium business for next to nothing with all the debts and contracts cleared away (hasn’t worked so far, better luck next time?). But if I was looking for someone to build a brand new football ground, SISU wouldn’t be my first choice. Might they just skimp a tiny bit?

 

[covmark]

rfc

:facepalm:

 

[Calista]

Just one question for everyone who thinks the Council and Higgs should have sold the stadium to CCFC. When did we ever put in a bid that was even close to being accepted?

To draw a football analogy, we didn’t lose 4-3 in the final to a last minute offside goal. We lost 6-nil in the qualifying round after turning up with ten men, giving away a pen in the second minute, having two guys sent off for arguing, scoring a couple of own goals and blasting several easy chances way over the bar.

No doubt some will blame the ref, but I just don’t buy it. We were shit.

 

[Ian1779]

Just one question for everyone who thinks the Council and Higgs should have sold the stadium to CCFC. When did we ever put in a bid that was even close to being accepted?

You raise a fair point, unfortunately I believe that the 'going rate' for Wasps to purchase Ricoh was £6m, but for CCFC it was considerably more.

 

[James Smith]

Other than RFC, who?

I was about to say RFC.

 

[fernandopartridge]

These worries are very rational I’m afraid! It seems to me that the nature of SISU’s business is not to pay full price for anything. I’m a bit like that, which is why the Christmas presents people get from me are from the previous January sales.

It’s all very well if you can pick up a big stadium business for next to nothing with all the debts and contracts cleared away (hasn’t worked so far, better luck next time?). But if I was looking for someone to build a brand new football ground, SISU wouldn’t be my first choice. Might they just skimp a tiny bit?

That nature of business full stop is to not pay full price if you can get away way with it. Not that prices really exist in a market economy.

Wasps in this case have managed to get a better price and more fit their buck. It can't all be down to their manners, can it?