Ms Seppala appears to be saying that we were run by the wrong people until 2012. But the things that have happened since then represent an improvement, and everybody at the club is working to a clear plan that the fans understand. Thank goodness for that.
We need a rent reduction, well actually it’s not the rent it’s the match-day revenues, or rather it’s all the revenues, because we can’t possibly afford not to have them, although we only want them if the loan is paid off, and when we said we’d give the charity £5m we meant £2m as a favour because it’s not worth anything really, and the real value of the stadium is not in the revenues anyway but in the land development potential, and now you’ve reduced the rent we can’t afford to use the stadium so we’ve disconnected that non-trading part of the club, and moved to Northampton in the West Midlands, because we don’t want exposure to the City Council, so we won’t be coming back until we’ve built a new stadium in the Coventry area, for which we’ve had very productive meetings with other local authorities, so we’ll announce the site very soon, but we are still interested in buying the stadium, but not unless all the contracts are paid off, so we won’t interfere with Wasps buying the stadium, sorry we meant the new stadium is actually in Coventry, and we need the help of the City Council because we owe it to the fans, and owning a stadium is crucial, but we don’t actually need to own a stadium, although we don’t want risk exposure to Wasps, so we’ll pursue a long-term arrangement with Wasps, by which we mean a short-term arrangement while we pursue our medium-term strategy of owning a stadium, during which time we definitely won’t fund any operating losses, but we might if it means getting to the Premier League.