CET: Club turn down 50% reduction in rent. (7 Viewers)

[Mucca Mad Boys]

With ACL's profits quite low (more than CCFC's!), are SiSU trying to get the rent as low as possible so the ACL lose out on profits so SiSU are in a better position to buy 1/2 of the stadium?

Also, 50% is a lot, but, paying 650k is also a lot to be paying, as we're losing money even if we didn't have to pay rent, of course if we owned the ground...

Otis may also be on the money...

 

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[mattylad]

It's more they want strike a cheap deal on the shares and then pay no percent rent just a share of the maintenance fees

 

[craigSKYBLUE]

If i was offered 50% off my mortgage just to stay in my house i would snap the banks hand off.
Obviously Sisu are intent in putting ACL, council and Higgs trust into financial trouble also.
If 50% has been offered sisu wont have a leg to stand on if it goes back to court.

I know what you're saying ..but without Coventry city at the Ricoh arena what is it good for....nothing.and sisu know this..tbh Coventry city are the powerhouse of the negotiations because in theory ACL..COUNCIL..TRUST need us to be at the ricoh

 

[kdrinkell]

I know what you're saying ..but without Coventry city at the Ricoh arena what is it good for....nothing.

Doesn't ccfc at the ricoh give them 17% of their annual income,I'm sure I read that :thinking about:

 

[craigSKYBLUE]

Doesn't ccfc at the ricoh give them 17% of their annual income,I'm sure I read that :thinking about:

Find that hard to believe

 

[Houchens Head]

I know what you're saying ..but without Coventry city at the Ricoh arena what is it good for....nothing.and sisu know this..tbh Coventry city are the powerhouse of the negotiations because in theory ACL..COUNCIL..TRUST need us to be at the ricoh

...... and if there's no income from rent, what good is it for?

 

[craigSKYBLUE]

...... and if there's no income from rent, what good is it for?

I just can't see the club losing on this particular matter..the rent will end up about 250k

 

[I'mARealWizard]

I just can't see the club losing on this particular matter..the rent will end up about 250k

Quoted to check your powers of prophecy.


*Mental note to return here when the matter is settled

 

[Wrenstreetcarpark]

It's more they want strike a cheap deal on the shares and then pay no percent rent just a share of the maintenance fees

Not for the benefit of the Club but so they can sell it on at a fat profit to the invisible investors hiding behind Seppala's skirt. Remember it is Sisu and all they are after is the MONEY. If you owned a football club would you only go to two games in four years? That is how interested Sisu is in CCFC. Kill ACL and get the Club costing as little as possible and then sell the whole lot off or borrow as much as possible against the whole thing, take the money and run. That is Sisu. That is Seppala.

 

[Wrenstreetcarpark]

Oh and I forgot, aided and abetted by Clarke, aka Mr Creosote.

http://www.youtube.com/watch?v=v29QfOyuZ3Y

 

[skybluegod]

this is bull ffs that's a decent offer

 

[castlevaleskyblue]

They won't accept the first offer, what they really want is access to the revenue steams the ricoh generates, and to be fair if I buy a pint or pie I'd want the profit to go to the club

 

[Godiva]

If i was offered 50% off my mortgage just to stay in my house i would snap the banks hand off.

But if 50% is still more than you can afford, you'll end up on the street anyway. So accepting will actually not improve your situation. 50% is just a figure ... it has no relevans without knowing if the club is actually capable of paying £600k/yr. Plus we don't know what other terms are on the table.

Obviously Sisu are intent in putting ACL, council and Higgs trust into financial trouble also.

Oh, that's just plain stupid ... what on earth would sisu gain by that?
This is all about money - not personal grudges or childish blame games.

If 50% has been offered sisu wont have a leg to stand on if it goes back to court.

The club doesn't really have a leg to stand on now as the contract has been breached. The court is impartial and have only given the the parties time to settle the matter themselves. If the court is forced to make a ruling it will be in favor of ACL.

 

[italiahorse]

Could they pay 60% and then take half the other income strings.
Its just fine tuning the deal.

 

[Wrenstreetcarpark]

Oh, that's just plain stupid ... what on earth would sisu gain by that?
This is all about money - not personal grudges or childish blame games.

what they gain is the chance to take the lot and then to sell or worse borrow against it so that they can make the profit they came in to make. They deal in distressed companies. They force companies into distress. They are like the hyena round a herd of antelope: chase down the young or old, tire them, weaken them and then drag them down for the kill. Sisu are a hyena hedge fund. SkyBlueJohn is almost certainly right.
What is for certain is that it is not about CCFC.

 

[Godiva]

what they gain is the chance to take the lot and then to sell or worse borrow against it so that they can make the profit they came in to make. They deal in distressed companies. They force companies into distress. They are like the hyena round a herd of antelope: chase down the young or old, tire them, weaken them and then drag them down for the kill. Sisu are a hyena hedge fund. SkyBlueJohn is almost certainly right.
What is for certain is that it is not about CCFC.

They have the power to wind up the club anyday they want and have had that power since they took over. Why would they intentionally spend +30m over five years to get maybe 3m or even 5m back? Even if they are so devious as you imply, that plan is surely somewhat flawed.

 

[speedie87]

i think they turned it down as they want want to pay a rent based on percentage of the attendances, and or they still would like to get a share of the ground

 

[Wrenstreetcarpark]

They have the power to wind up the club anyday they want and have had that power since they took over. Why would they intentionally spend +30m over five years to get maybe 3m or even 5m back? Even if they are so devious as you imply, that plan is surely somewhat flawed.

They want ACL. 100% of it, for nothing or next to nothing.

 

[BigadamL]

The worrying thing is that this is what SISU do, they are the masters at making sure they get what they want! This is how they made all there money!!

I can't help but feel really worried about the club at the minute

 

[Godiva]

The worrying thing is that this is what SISU do, they are the masters at making sure they get what they want! This is how they made all there money!!

I can't help but feel really worried about the club at the minute

You're right, this is what they do - come in as a last chance and turning a terminal loss making business into a viable profit making business.

I can't help but feeling quite optimistic for the club at the minute.

 

[Mucca Mad Boys]

They want ACL. 100% of it, for nothing or next to nothing.

So do the fans want the club to own the stadium, so we can make something from OUR stadium!

You're not going to want to buy the ground at top rates, of course you want it at the lowest rates - business for you!

Let's face it, there are NO good guys in this scenario, only bad guys...

 

[BigadamL]

Godiva 10:47 AM 8 Minutes Ago
Originally Posted by BigadamL:
The worrying thing is that this is what SISU do, they are the masters at making sure they get what they want! This is how they made all there money!!

I can't help but feel really worried about the club at the minute
You're right, this is what they do - come in as a last chance and turning a terminal loss making business into a viable profit making business.

I can't help but feeling quite optimistic for the club at the minute.

Yeah and the companies that they don't turn around they shut down and wipe them off the face of the earth.

 

[Godiva]

Yeah and the companies that they don't turn around they shut down and wipe them off the face of the earth.

True ... what is exactly what could have happened 5 years had they not taken over the club.
The current owners did not bring us to a situation where only high risk investors would consider taking over the club - previous owners did that.

Still - sisu stand to lose a hell of a lot of money if they don't succeed in turning the club around!

 

[TasmanSeaSkyBlue]

CCFC = Coventry City Football Crisis

(What) Next please........

 

[skyblueexile]

tongue in cheek - why don't council give stadium rent free with promise of free handover when back in premiership with council developing surrounds to retrieve cost

SISU can them meanwhile purchase the other half for 10m:claping hands: then every one wins

 

[BigadamL]

I totally agree that it was not SISU who got us into the situation, however I do believe the mis-management of the club since the take over shows that SISU thought it would be alot easier they they first thought. I know people might not like this but even when Ray Ranson was here it wasn't being run correct. I do find it strange why people think he is so amazing.

I can't help but be worried about the club at the minute, I honestly think that the club have built a squad just about good enough to cope with admin, so if we do then the 10points will have not that much of an effect.

 

[skyblueexile]

pie in sky but SISU council and fans would win

tongue in cheek - why don't council give stadium rent free with promise of free handover when back in premiership with council developing surrounds to retrieve cost

SISU can them meanwhile purchase the other half for 10m:claping hands: then every one wins

 

[skyblueexile]

pie in sky but SISU council and fans would win

tongue in cheek - why don't council give stadium rent free with promise of free handover when back in premiership with council developing surrounds to retrieve cost

SISU can them meanwhile purchase the other half for 10m:claping hands: then every one wins

 

[skyblueexile]

apologies for the duplication /I,m a dinosaur with computers:jerkit:

 

[Gaz]

Does anyone know if the offer was 50% reduction but the club would need to pay back the other 50% if we gain promotion ?

 

[Godiva]

I totally agree that it was not SISU who got us into the situation, however I do believe the mis-management of the club since the take over shows that SISU thought it would be alot easier they they first thought. I know people might not like this but even when Ray Ranson was here it wasn't being run correct. I do find it strange why people think he is so amazing.

I can't help but be worried about the club at the minute, I honestly think that the club have built a squad just about good enough to cope with admin, so if we do then the 10points will have not that much of an effect.

Well, in that case we are not disagreeing on much - I have made myself a nuisance on this board advocating that Ransons reign was a total failure. That include the esteemed Hoffman and Elliott!
We need to understand that sisu actually only took over the operational running of the club last year and since then they have done what is possible to balance cost with income. Only when they succeed with that task will the club have a long term future ... be it with or without sisu.

I disagree about entering administration - there are no buyers to a failing business these days. Maybe another hedge fund, I don't know. Forget Hoffman and his chinese sugardaddy. Until he actually comes up with a sensible offer he is simply a distraction giving false hopes and expectations.
Going into administration will cost us 10 points - but the unsettling and instabillity would cost us more points. Look at Portsmouth last season, with their form and players they should in theory have been able to avoid the drop, but the uncertaincy in the whole situation distracted the players (and the rest of the club).

So as long as the club work on balancing the finances and the owners keep us out of administration we will be fine.

 

[Wrenstreetcarpark]

except Sisu don't want to spend £10m... they only want one winner: Sisu.

 

[valiant15]

Good morning tim.

 

[coundonskyblue]

tongue in cheek - why don't council give stadium rent free with promise of free handover when back in premiership with council developing surrounds to retrieve cost

SISU can them meanwhile purchase the other half for 10m:claping hands: then every one wins

Except the Coventry taxpayer.

 

[valiant15]

Why don't we give them the ricoh and the surrounding ground for free,they can have the cathedral's for nothing,give them the whole city,we can rename it sisuville,we can give them our houses and our cars to sell,will this be enough,probably not,we can give sisu our kids to sell,we can give sisu our blood to sell,our sperm to sell to childless couples at extortionate rates,fuck it,let's give the parasitic bastards the whole country.