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torchomatic

torchomatic

Well-Known Member
Irish Sky Blue said:
I'm not excusing what the council have done. Selling to Wasps is the biggest blow to hit our club out of everything that has happened. However you can't just ignore the reasons why they sold to Wasps. I don't need to go over that old ground, we all know the story. The fact is that Sisu have been underhand, devious and obviously very difficult to deal with. Nobody it seems wants to have anything to do with them. When you see the tangled web of legal action taken out against Higgs, CCC and with Wasps still to come you can understand why. Sisu have no honour. How can anyone be blamed for keeping them at arms length.
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No, I can't ignore it, but I reject and disagree with it. As I keep saying one day SISU will just be a bad memory, but Wasps are here basically forever. There is no chance of us getting the Ricoh. We may even have to build a new stadium out of the city. Sisu are as you say difficult to deal with...so don't - wait until they do leave. The Ricoh would still be under CCC, so what harm would it have done.

When we returned from Northampton the Council were publicly saying that bridges needed to be built before talking about ownership, etc. If they had kept to their word and either gave them a slice of the Ricoh or a long deal with some revenue that suited all parties then instantly the club becomes more attractive to potential new owners.

Sadly, CCC when they spited SISU also spited CCFC forever (that's not being emotive, that's a fact). If CCC had resisted the franchise and, for once, decided to think of what a football club can do for a city then we may not be in this mess. Yep, SISU fucked up, but as I've said the sale to Wasps will cause much more long term damage (maybe even fatally) than SISU ever will.
 
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torchomatic

torchomatic

Well-Known Member
Sky Blue Kid said:
Torchy that is.

Two-faced fucker.
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Who me? Or my son? Or both of us? I just want to know your level of fucking twatishness.*

*apologies to Hill83.
 
torchomatic

torchomatic

Well-Known Member
Sky Blue Kid said:
You're so two-faced pal, agreeing about Northampton but go there yourself.
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Fuck off you fucking, fucking, fucking, fucking, prick.*

*Apologies to Hill83 once again.
 
Sky Blue Kid

Sky Blue Kid

Well-Known Member
torchomatic said:
Totally disagree. CCC would have NEVER sold to SISU. "Hell will freeze over", remember. Wasps would have been on the scene regardless and The Council would have done exactly the same thng.

Not excusing the Northampton move. Shocking decision.

One point. Remember Lucas saying that Wasps would not have a detrimental affect on the football club. What do you reckon about that?
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This is why I called you a two-faced fucker pal.... You still went though didn't you!!! Ya fucking,fucking,fucking,fucking,fucking wanker!
 
Warwickhunt

Warwickhunt

Well-Known Member
oldskyblue58 said:
QUOTE="Warwickhunt, post: 1179437, member: 4907"]In all this banter no one is questioning why the council sold our assett(Coventry Taxpayers) so cheaply to the WASP's! All this About SISU shit is not giving me that answer. If they had sold it for £42 million the correct valuation I would not have a problem with WASP ownership. Instead the Nationals rags putting out shit headlines this morning about Southgate being involved some tax avoidance scheme these fucking hacks need to dig into the goings on in this deal that's where the good stuff is.
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In May 2015 lease was re-valued to £48.5m months after Wasps bought the shares of ACL

The shares of ACL were never worth anything like that value. It was the shares not the lease that Wasps bought in September/October 2014

The value of the shares sold in September/October 2014 was the value of all the assets (including the lease which was valued at that time at around £19m) less the value of all the liabilities (including the 14m loan to due CCC) at that time.

The balance sheet value of the ACL group in the 2014 financials (last year before share disposal) was £6.8m.

The group was I would think struggling so was there a premium due on the shares? doubtful. That and when the value of the 250 year lease was attributable is the subject of JR 2


Other stuff
It seems on the face of it CCC/AEHC had a simple financial choice, -

Their shares, that had an ACL balance sheet value of 6.8m, could be sold for £5.4m (in reality both paid a premium on the shares so would make a bigger loss than that, eg AEHC paid £6.5m).

or they could allow ACL to go bust which could allow the owners of CCFC to acquire the site but would certainly mean CCC/AEHC lose their shares for £nil, with the prospect of SISU making profits on the deal when they sold it on sometime in the future.

so in very simplistic terms £5.4m or nothing................. There was no one else actively looking to buy other than wasps it would seem[/QUOTE]
Thanks OSB I was blowing off steam that's all , just a bit fed up really cos I can only see it all ending badly
 
torchomatic

torchomatic

Well-Known Member
hill83 said:
No need to apologise to me. This is great. Carry on.
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Thanks.

SBK, just once more before I block you: Fuck off you sad little prick.
 
Captain Dart

Captain Dart

Well-Known Member
Frankley said:
I'm sorry, I think you're wrong and let me explain why.

The council should act in precisely the same manner towards a business irrespective of who owns it. If the council treats a new owner of the football club significantly better than the current owners there will be a legal case to answer.
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I don't see why they would deal with anyone taking legal action against them, it is a perfectly reasonable position.
 
F

Frankley

Well-Known Member
skybluetony176 said:
That wasn't what I meant. I meant what have SISU asked for that CCC have refused that they might agree to with new owners?
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I suggest we don't really know much of what has actually gone on at this stage, so we don't know what the club has spoken to the council about.

One thing we do know a little of is the goings on at The Butts and this suggests the council hasn't been acting terribly professionally. It seems the council sought information about what the football club had been talking to Coventry Rugby Club about, commercially sensitive information the council had no right to. It also seems the council tried to get a ban on professional football being played at The Butts, something that seems dangerously like an attempt to restrict trade.
 
Sky Blue Kid

Sky Blue Kid

Well-Known Member
Frankley said:
I suggest we don't really know much of what has actually gone on at this stage, so we don't know what the club has spoken to the council about.

One thing we do know a little of is the goings on at The Butts and this suggests the council hasn't been acting terribly professionally. It seems the council sought information about what the football club had been talking to Coventry Rugby Club about, commercially sensitive information the council had no right to. It also seems the council tried to get a ban on professional football being played at The Butts, something that seems dangerously like an attempt to restrict trade.
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IIRC. Wasn't there a football restriction in place before what you're talking about?
 
F

Frankley

Well-Known Member
Captain Dart said:
I don't see why they would deal with anyone taking legal action against them, it is a perfectly reasonable position.
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I can't agree with you.

As a local authority has a monopoly in a particular locale it would be entirely unreasonable to refuse to deal with a particular organisation simply because that organisation has taken legal action against the local authority. When the boot's on the other foot, local authorities expect businesses they have taken legal action against to still deal with them.
 
F

Frankley

Well-Known Member
Sky Blue Kid said:
And I suggest you read this.... http://www.coventrytelegraph.net/news/coventry-news/coventry-rfc-chairman-reveals-butts-10635203
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Womens football and American football have both been played at The Butts in the recent past. The Sky Blues ticket office is based at The Butts. There have been various beer festivals, weddings and other social events at The Butts. According to your Simon Gilbert article, all of these activities breach the lease.

The Simon Gilbert article lacks any credibility.
 
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Deleted member 5849

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Sky Blue Kid

Sky Blue Kid

Well-Known Member
Frankley said:
Womens football and American football have both been played at The Butts in the recent past. The Sky Blues ticket office is based at The Butts. There have been various beer festivals, weddings and other social events at The Butts. According to your Simon Gilbert article, all of these activities breach the lease.

The Simon Gilbert article lacks any credibility.
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Lmfao.. But Les Reid's of "The Observer" does hahaha.... Dated May 16 2016. btw ;)
 
Captain Dart

Captain Dart

Well-Known Member
Sky Blue Kid

Sky Blue Kid

Well-Known Member
Frankley said:
You seem so knowledgeable...

Tell me, where's the restriction that specifically mentions football been published?
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Who the f**k are you? Judge Rinder, read the article it might tell you :)
Just putting it out there mate. same applies to you.. Don't shoot the messenger.
 
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