Astute
Well-Known Member
So where should the money to be able to complete the build have come from?
Butts Park Arena - put up or shut up ! (19 Viewers)
- Thread starter Voice_of_Reason
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Astute
Well-Known Member
Would you like to explain?
dongonzalos
Well-Known Member
Quite an Ironic post, considering you are making out anyone has said the words kids starving to death' in order to make your post sound better
Nick
Administrator
Hence I said "making out". Let's not pretend people don't pile on the "poor children" act
Same as when people mention tax payers money and it was said about "every man woman and child would be losing £x".
dongonzalos
Well-Known Member
This is also on their current website and does mention disadvantaged children. As I said they are involved in a range of projects that are good for the local area including the prime reasonit was set up to support disadvantaged children....
Charitable giving ranges from large strategic projects, such as the gift of over £10 million to the Trustees of The Alan Higgs Centre to build a community sports and leisure centre (presently home of Otium Entertainment Group’s ‘CCFC’ Academy), to a very large number of small local projects such as provision of minibuses, family holidays and support for disadvantaged children, community groups and youth clubs. Some donations are specific single grants and some are to support ongoing activity by small charitable organisations and community groups.
dongonzalos
Well-Known Member
Hence I said "making out". Let's not pretend people don't pile on the "poor children" act
Same as when people mention tax payers money and it was said about "every man woman and child would be losing £x".
Nobody had made out children will starve to death. Only you have suggested they have.
People have correctly pointed out as confirmed by a high court Judge that SISU's actions were distressing ACL for SISU's benefit.
ACL is half owned by a charity which supports disadvantaged children.
SISU's actions were of course affecting that charity in negative way.
You can paint it up whatever way you like. That's the facts of the matter.
SISU offered the charity 2 million for something that SISU felt wasn't worth anything.
They ended up getting 2.77 million, a stand named after them and ongoing percentage of ticket sales from that stand.
I am personally glad a stand was made and the distressing of ACL brought to a halt.
Some things in life are more important than football, including screwing over charities whatever their cause but in particular if they help disadvantaged children
Nick
Administrator
What about the offer to Higgs that would benefit the community? You have missed that bit out.
Maybe you should sign up to the Higgs fans forum, PWKH can take his accounts over there and the fellow ACL directors can have theirs. I'll even export their posts for them.
How much distressing of the "children's charity" did the Council do? Imagine how well off it would have been if they had extended the lease and took all of the strain away
dongonzalos
Well-Known Member
What about the offer to Higgs that would benefit the community? You have missed that bit out.
Maybe you should sign up to the Higgs fans forum, PWKH can take his accounts over there and the fellow ACL directors can have theirs. I'll even export their posts for them.
How much distressing of the "children's charity" did the Council do? Imagine how well off it would have been if they had extended the lease and took all of the strain away
When will you learn that one employee doesn't make a charity.
I am gobsmacked you still support CCFC after we had Ken Deliu as a Chairman. Surely you must hate them on your warped logic.
fernandopartridge
Well-Known Member
READ THE REPORT YOU POSTED UP.
The council borrowed £21m through the prudential borrowing scheme. It doesn't state anywhere in the report that the lease premium income was to cover the council's prudential borrowing / towards the build cost. To do so would surely value the lease on a false premise.
Nick
Administrator
When will you learn that one employee doesn't make a charity.
I am gobsmacked you still support CCFC after we had Ken Deliu as a Chairman. Surely you must hate them on your warped logic.
Never said anything about 1 employee did I?
Again, why didn't the council do too much to help Higgs and their investment?
I am gobsmacked you actually mentioned CCFC in one of your posts.
Astute
Well-Known Member
So they didn't borrow 21m off the Prudential then :smuggrin:
And what about the link I put up yet again? It shows that what was the mortgage...21m...was used towards the build costs. This included 7m to fit out the stadium. It shows where the money came from and what it was spent on. Here you are again. It is an official document and not just hearsay.
They would have been lucky to have got the loan at 5%. There was also over 1m more needed. 22m at 5% is 1.1m
https://www.google.co.uk/url?sa=t&source=web&rct=j&url=http://democraticservices.coventry.gov.uk/Data/Cabinet/200606271500/Agenda/08%20-%20Arena%20Construction%20Completion%20Report.pdf&ved=0ahUKEwiymculkPvSAhXoC8AKHdZLAv8QFggoMAQ&usg=AFQjCNEBQOj5oVX3oSmfqzeOuBhdrB3tZg
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dongonzalos
Well-Known Member
Bingo. Always know when you are losing a debate you always try and suggest the other person either isn't a Cov fan or not a very good one. Grendel does the same. That's good enough for me.
The one employee line is in relation your odd obsession with PWKH. Your personal issues with him fuels your detest for the Higgs Charity. It seems to give you a strange justification for diminishing the importance of all the good work they do and the fact they were getting screwed over because you hate one bloke who works for them.
How exactly would extending the lease have helped ACL. Whilst the anchor tenant is withholding their rent. Then moves out?
Nick
Administrator
Maybe it's because people like you and Captain Dart don't really mention CCFC. I mentioned multiple people didn't I as well as PWKH? I've never mentioned the actual work they do have I? Who has said my dislike for them is based just on PWKH either, or are you just assuming?
I also carried on the debate in the comment above about the council. Surely if they extended the lease it would have eased the pressure and the reliance on CCFC? If any business relies so much on an anchor customer in the first place it is flawed.
dongonzalos
Well-Known Member
No assumption, based on your comments about PWKH.
CCFC
CCFC
CCFC
CCFC
CCFC
CCFC
CCFC
Can I have my gold star now?
Just how many times have I talked about CCFC out of interest?
Nick
Administrator
Not as much as you do about Higgs and the Council, obviously.
chiefdave
Well-Known Member
There wasn't a £21m overspend, fit out or anything like that. Part of the finance for the build was a loan of £21m to the council from the Prudential. The overspend was £2.9m which was paid from council reserves.
Separate to that is the matter of the lease from the council to ACL. They were given the option to pay £1.9m annually or a £21m premium. They chose the later and funded that via a loan from Yorkshire Bank.
chiefdave
Well-Known Member
Sharpiro bid was £26m wasn't it, from memory. Seem to recall Taylor calling it derisory and having a go at the them as they also wanted to develop more land around the Ricoh.
Nick
Administrator
Don't forget the longer lease they wanted too, cheeky bastards.
Moff
Well-Known Member
Cant honestly say I have seen all those disadvantaged kids in Browns, I mean why else would they buy a pub
Perhaps the prime reason they were set up isn't the true direction they now travel in.
D
Deleted member 5849
Guest
He also called the SISU bid the same...
It's a total myth to suggest the council were pro-SISU at the beginning. The co-op bank were pro SISU, and that's all that counted!
D
Deleted member 5849
Guest
Cant honestly say I have seen all those disadvantaged kids in Browns, I mean why else would they buy a pub
Perhaps the prime reason they were set up isn't the true direction they now travel in.
Higgs Charity said:
Higgs Charity said:
Can we put to bed the kids bit? Not that it should make any difference what good causes they put their money towards anyway, it's all worthy, surely? Just playing on the heart strings to big up the poor disadvantaged children.
Grendel
Well-Known Member
Good god. How many more times? They chose the loan as a preferred option rather than acl pay a regular annual payment.
Oh it's not even the same loan is it?
Read your own report.
Astute
Well-Known Member
I don't mind you quoting me at all. But as usual I don't get quoted correctly on this matter.
I didn't say that there was an overspend of 21m. This was the amount that was needed to pay for the build costs that never came from Tescos, grants, CCFC and CCC.
There was an overspend of 1.1m which was an additional loan by ACL from Yorkshire Bank. And 7m went to fitting out the arena.[/QUOTE]
Grendel
Well-Known Member
I wouldn't call owning a pub especially worthy.
Hobo
Well-Known Member
Diversity, revenue, profit....if it contributes to their aims....perhaps it is?
skybluetony176
Well-Known Member
Depends on how good the Guinness is.
Moff
Well-Known Member
It wasn't me it was Dongo! I was trying to point out the same, they support many deserving causes!
SkyblueBazza
Well-Known Member
Please tell me you don't really think it's acceptable to put the kids to bed around 5pm. Even infants are surely allowed 8pm? Try putting 14yr old in bed before 10pm these days & you'll probably have the child protection lot after you
...onwards & upwards PUSB
dongonzalos
Well-Known Member
Sorry I must have missed the figure how many was that?
How many times have you talked about Higgs, council, CCFC exactly?
dongonzalos
Well-Known Member
Sharipo bid £26 million for ACL?
Are you sure?
Or were they trying to buy the football club not ACL?
The football club were not owned by the Higgs Charity
dongonzalos
Well-Known Member
To be fair Moff I think you were suggesting they are not involved in helping disadvantaged children, via current information on their website. I happened to show that they in fact are tby current information in their website.
However I agree stopping any business from putting financial pressure on a charity is a good thing. Whether the charity is helping deprived children or whatever good cause they serve.
dongonzalos
Well-Known Member
Hopefully you think helping disadvantaged children is.
dongonzalos
Well-Known Member
Cant honestly say I have seen all those disadvantaged kids in Browns, I mean why else would they buy a pub
Perhaps the prime reason they were set up isn't the true direction they now travel in.
Perhaps you know about Browns but not a lot of the other good work they do?
Or maybe they just function like a brewery now, however I very much doubt they are lying about the other many projects on their website
Grendel
Well-Known Member
The offer was for acl yes. The council refused as they had the audacity to ask for a long lease and some land (car park c I assume) to be included in the deal.
Still proud?
Astute
Well-Known Member
I don't remember that happening. But even if it did the answer should have been a no. The only ones that should have ended up owning the Ricoh is CCFC. No hedge fund. No rugger club from London. Nobody expecting to make a profit out of CCFC. The whole thing has been a fuckup since Richardson sold HR. HR wasn't a great ground. But it was ours and in a good location. Before Richardson took over we were perennial relegation battlers. But at least we knew what to expect. His dreams and plans are what started it all off.