All Ricoh/ alternative ground comments. (8 Viewers)
- Thread starter The soothsayer
- Start date
AFCCOVENTRY
Well-Known Member
But it is nice to see that our neighbours are willing to help.
Blue Maniac
Member
Mr Neal seems to be a wind-up merchant.
AFCCOVENTRY
Well-Known Member
Would you stop supporting CCFC if they had to ground share?
Paxman II
Well-Known Member
Who has the biggest balls?
This brinkmanship is near conclusion I suspect.
I mentioned this last week.
Clearly ACL are at their final end game.
SISU on the other hand will hold their nerve and wait to see if ACL run out of time.
By the time ACL litigate their demands it may be too late for to save themselves.
This strategy for SISU is doing their reputation a lot of harm as their argument since being given a rumoured £400k option will be extremely damaging long term. I can't imagine they would ever have the opportunity to take up a long standing clause for shares at £10m for the Ricoh as this episode would be sited against them.
They are running a very risky end game - one which they should sensibly find a way to close out now, without egg on their face and still hold sway with the shares option.
The alternate chance that ACL could fold and the bank action that could follow, is in my view a higher risk strategy than the more obvious first option. That is unless SISU know something or have some inside track with the bank on this?
Reality is though £400k if that is correct, is a very good deal based on us being in a lower league for now and the facilities we have for it. 'Unreasonable' is a strong legal term and one which SISU may be falling very short of if they are not very careful and this whole mess ends up in court.Nobody wants a judge to make an ordered conclusion.
My feeling is they will now settle arrears based on this new offer, ACL climbing down even further (arraers at new level) to do that and SISU will keep their option or have it extended as part of these new terms with ACL over the future £10m share ownership plus ongoing discussions about sharing some of the revenue streams too.
ACL have in reality not done so well if truth be known so they too have less choices than you might think.
Previous work by SISU on shuffling assets etc into various companies/holding companies etc are their insurance to being 'called out'. Its not their desired option.
Right now the potential is far greater than the protagonist involed. The stadium, the football club and this City demand these sides set differences apart and fix this. Only long term harm can result if they are not seen to be doing so.
This brinkmanship is near conclusion I suspect.
I mentioned this last week.
Clearly ACL are at their final end game.
SISU on the other hand will hold their nerve and wait to see if ACL run out of time.
By the time ACL litigate their demands it may be too late for to save themselves.
This strategy for SISU is doing their reputation a lot of harm as their argument since being given a rumoured £400k option will be extremely damaging long term. I can't imagine they would ever have the opportunity to take up a long standing clause for shares at £10m for the Ricoh as this episode would be sited against them.
They are running a very risky end game - one which they should sensibly find a way to close out now, without egg on their face and still hold sway with the shares option.
The alternate chance that ACL could fold and the bank action that could follow, is in my view a higher risk strategy than the more obvious first option. That is unless SISU know something or have some inside track with the bank on this?
Reality is though £400k if that is correct, is a very good deal based on us being in a lower league for now and the facilities we have for it. 'Unreasonable' is a strong legal term and one which SISU may be falling very short of if they are not very careful and this whole mess ends up in court.Nobody wants a judge to make an ordered conclusion.
My feeling is they will now settle arrears based on this new offer, ACL climbing down even further (arraers at new level) to do that and SISU will keep their option or have it extended as part of these new terms with ACL over the future £10m share ownership plus ongoing discussions about sharing some of the revenue streams too.
ACL have in reality not done so well if truth be known so they too have less choices than you might think.
Previous work by SISU on shuffling assets etc into various companies/holding companies etc are their insurance to being 'called out'. Its not their desired option.
Right now the potential is far greater than the protagonist involed. The stadium, the football club and this City demand these sides set differences apart and fix this. Only long term harm can result if they are not seen to be doing so.
Waldorf
New Member
Liberty Way doesn't meet League 2 standards let alone League 1. Butts Park probably doesn't even meet Conference standards, so no Joy there (see what I did there?). St Andrews & the Crisp Bowl or whatever it's called these days, will cost Championship prices (presumably too much). The only other alternative is Walsall, and if they think I'm friggin going there every other Saturday, then they can think again.
LastGarrison
Well-Known Member
It may be the house we reside in but it is definitely not home......
oldskyblue58
CCFC Finance Director
http://www.coventrycity-mad.co.uk/n...on_of_agreeing_deal__isaac_771636/index.shtml
Coventry City’s owners SISU never had any intention of agreeing a deal over the rent for use of the facilities at the Ricoh Arena, according to Jacky Isaac, Interim CEO for Arena Coventry Limited.
Although full figures have not been mentioned, it is that a deal cheaper than the already rejected £650k a year offer plus a deal to pay back the rent, which has not been paid over the last ten months, over a number of years, was dismissed by SISU.
Speaking to the Coventry Telegraph’s Keith Perry, Jacky Isaac said: "If the club wants to use this facility then they have to honour their contractual obligations to pay the rent.
"That means, at the very least, having a meaningful conversation with ACL.
"ACL has been talking to CCFC for ten months. At the weekend we offered them what we genuinely believe to be an excellent deal on the rent - the kind of deal that we simply wouldn’t offer any other tenant.
"We’ve done that because we know how important CCFC is to the city.
"But Sisu has still turned down the offer. The numbers can’t be disclosed because of commercial sensitivities.
"But it is important that the people of Coventry know that ACL has bent over backwards to be supportive on this.
"What happens now is up to Sisu. They have 21 days to pay the outstanding rent and come to an agreement with us.
"However, after turning down our most recent offer, we have to question whether at any point during our conversations in the last ten months, Sisu ever had any intention of reaching a deal with us."
taken from Covmad and CT
Coventry City’s owners SISU never had any intention of agreeing a deal over the rent for use of the facilities at the Ricoh Arena, according to Jacky Isaac, Interim CEO for Arena Coventry Limited.
Although full figures have not been mentioned, it is that a deal cheaper than the already rejected £650k a year offer plus a deal to pay back the rent, which has not been paid over the last ten months, over a number of years, was dismissed by SISU.
Speaking to the Coventry Telegraph’s Keith Perry, Jacky Isaac said: "If the club wants to use this facility then they have to honour their contractual obligations to pay the rent.
"That means, at the very least, having a meaningful conversation with ACL.
"ACL has been talking to CCFC for ten months. At the weekend we offered them what we genuinely believe to be an excellent deal on the rent - the kind of deal that we simply wouldn’t offer any other tenant.
"We’ve done that because we know how important CCFC is to the city.
"But Sisu has still turned down the offer. The numbers can’t be disclosed because of commercial sensitivities.
"But it is important that the people of Coventry know that ACL has bent over backwards to be supportive on this.
"What happens now is up to Sisu. They have 21 days to pay the outstanding rent and come to an agreement with us.
"However, after turning down our most recent offer, we have to question whether at any point during our conversations in the last ten months, Sisu ever had any intention of reaching a deal with us."
taken from Covmad and CT
Otis
Well-Known Member
Hang on, Sisu have turned down the offer at the weekend but ACL haven't heard anything from Sisu since June?
:thinking about::thinking about:
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Otis
Well-Known Member
Speak for yourself. I took a flask and a blanket the other night. That's food and lodgings in anyone's book!
dongonzalos
Well-Known Member
Walsall......
Grendel
Well-Known Member
30 miles away and too small. If we lose the ground the club goes forever.
Grendel
Well-Known Member
And your next cunning plan Baldrick?
Brighton Sky Blue
Well-Known Member
Use MMM's pie making skills at a fundraiser.
Danceswithhorses
Well-Known Member
Would anyone trust sisu/ccfc to honour a future long term debt eg paying the extra when they're promoted....with their track record ??
deanocity3
New Member
no I wouldn't having heard what I heard tonight
This Sisu shower of shit begger believe:-
1. They supposedly carry out Due Dilligence.
2. They therefore know the terms of purchase.
3. They get us relegated to the third division of English football (and the inevitable loss of income)
4. They then complain that the stadium rent is too high.
How the hell is this scenario anything other than their own fault???
1. They supposedly carry out Due Dilligence.
2. They therefore know the terms of purchase.
3. They get us relegated to the third division of English football (and the inevitable loss of income)
4. They then complain that the stadium rent is too high.
How the hell is this scenario anything other than their own fault???
deanocity3
New Member
They won't put their hand in their pockets for cash at any price
deanocity3
New Member
Sisu's debenture in the Cayman Islands is all sent up for liquidation,it was sent up in March,since then no rent has been paid.
Blue Maniac
Member
I doubt it's a viable option. It's used for all first XV home games (obviously), some second string games, the occasional friendly, so the pitch would be horrible for football. It'd be cheaper than the KPS though I imagine.
ericagradus
Member
What about the Northampton Town's stadium at sixfields as an alternative?
35 mins from Coventry and easy access straight off the m1?
35 mins from Coventry and easy access straight off the m1?
Brighton Sky Blue
Well-Known Member
How much does it hold?
Sir Digby Chicken Caesar
New Member
I guess we all knew the rent situation would eventually blow up into some drama.
To paraphrase Brad Pitt - "No luck." "No rent." "No ground." "Inevitable."
To paraphrase Brad Pitt - "No luck." "No rent." "No ground." "Inevitable."
Blue Maniac
Member
Not enough, it's tiny.
Grendel
Well-Known Member
8,000 not big enough? We can't even get 10,000 people to travel 5 miles to support the club. So I would say 5,000 is big enough -- hardly anyone would be bothered to go.