Mr Fisher please wake up (1 Viewer)

[cofastreecity]

It is rumoured that Fisher collects a salary for working part time for CCFC of £150k a year and Clarke some £60k for gracing the Directors box, thats not counting all those expenses for wining & dining and one would guess first class travel, from my calculations that would pay for 75% of the rent being offered by ACL for a wonderful stadium.
Could someone also remind me what League we played in last year when the average gate was 13,000 and where we are now with a gate of 8,000, from memory it was the same Fisher, Clarke and co who stood and watched the team evaporate from the Championship, I wonder if they can look in the mirror when they pick up their salaries whilst they hold back on paying the rent. I only wish my landlord would reduce my rent by two thirds, let me carry on living in my house then offer to pay my weekly food bill, it seems to me the only party giving any assistance is ACL.
The brave are those who can see a good proposition when they see one, don't be a fool be honest.

 

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[Grendel]

I only wish my landlord would reduce my rent by two thirds, let me carry on living in my house then offer to pay my weekly food bill, it seems to me the only party giving any assistance is ACL.

This is nonsense. There is no comparison to a landlord or someone with a mortgage.

ACL are not a typical landlord. They have social responsibility to act in the interests of the community and the football club is a firm part of the community.

It cannot be about profiteering as they acquired the asset at a lower than market value. Also a landlord would evict on the basis of acquiring a new tenant. The club is the only tenant.

This is a poor deeply flawed analogy.

 

[dongonzalos]

This is nonsense. There is no comparison to a landlord or someone with a mortgage.

ACL are not a typical landlord. They have social responsibility to act in the interests of the community and the football club is a firm part of the community.

It cannot be about profiteering as they acquired the asset at a lower than market value. Also a landlord would evict on the basis of acquiring a new tenant. The club is the only tenant.

This is a poor deeply flawed analogy.

10 thousand people go to the Ricoh out of 310 thousand people.
The higgs charity and the council have a social responsibility to all 310 thousand people.
Wonder if they think letting SISU bully there way out of a million pound debt is a good idea, for the sake of the 10 thousand.

 

[wingy]

This is nonsense. There is no comparison to a landlord or someone with a mortgage.

ACL are not a typical landlord. They have social responsibility to act in the interests of the community and the football club is a firm part of the community.

It cannot be about profiteering as they acquired the asset at a lower than market value. Also a landlord would evict on the basis of acquiring a new tenant. The club is the only tenant.

This is a poor deeply flawed analogy.

ARe you sure there is no option for another tennant KD ?Rugby clubs move around like franchises and good ones at that.

 

[SkyBlue_Bear83]

ARe you sure there is no option for another tennant KD ?Rugby clubs move around like franchises and good ones at that.

Maybe Nuneaton could move into the Ricoh

Anyway even if they could find another tenant, I doubt they would pay a 1.2 million pound rent

 

[lordsummerisle]

ARe you sure there is no option for another tennant KD ?Rugby clubs move around like franchises and good ones at that.

Very few Rugby clubs that have the crowds to fund the price that we're paying at the Ricoh.

Leicester Tigers have the higest average crowd of around 20,000, but they're not going to move from Welford road which they own and is in Leicester.

 

[Ashdown1]

I hope you are listening in Mr Fisher.............I for one will not watch City play their homes games in another Arena, stop your ridiculous posturing and get your wealthy bosses to pull their fingers out of their back sides and pay at least the generous offer of £650,000. If you don't, many fans will be interested in the contractual agreement between CCFC and their ST holders in terms of where we play. I will want a refund pal !!

 

[The lost fan]

Im Glad somebody has finally found the balls to stand up to Sisu . If they were credible they would have payed the rent amount they thought was fair , they have nt and have no intention of paying , as they cant ? The Escrow account has been run dry , so its obvious they dont have it . They have no plan and are just bumbling through !

 

[DazzleTommyDazzle]

ACL are not a typical landlord. They have social responsibility to act in the interests of the community and the football club is a firm part of the community.

Quite correct.

ACL should view the club as a community asset in exactly the way that SISU do. :facepalm:

 

[Mary_Mungo_Midge]

ACL are not a typical landlord. They have social responsibility to act in the interests of the community and the football club is a firm part of the community.

Let's not lose sight of the role the taxpayers of Coventry played in the building of the Arena. As such, and with the greatest of respect, ACL - and the council's role therein - have the biggest social responsibility to the financial welfare of the 95% of the taxpayers of The City who don't frequent The Ricoh.

Why should hard working families and pensioners, who's taxes paid for the place to be built get a raw deal at the hands of a Mayfair-based shadowy hedge-fund fronted by a floppy-haired chancer who probably had to have Coventry pointed out to him on a map when he was given his highly-paid role?

 

[Ashdown1]

I think by offering to accept half the amount ACL have been more than fair. Maybe once this has been settled, negotiations could be initiated to reduce it further or have some clauses put in based on success, that way those c@nts SISU might understand the merits of investing in a successful team.

 

[Grendel]

Let's not lose sight of the role the taxpayers of Coventry played in the building of the Arena. As such, and with the greatest of respect, ACL - and the council's role therein - have the biggest social responsibility to the financial welfare of the 95% of the taxpayers of The City who don't frequent The Ricoh.

Why should hard working families and pensioners, who's taxes paid for the place to be built get a raw deal at the hands of a Mayfair-based shadowy hedge-fund fronted by a floppy-haired chancer who probably had to have Coventry pointed out to him on a map when he was given his highly-paid role?

In what way have the taxpayers actually individually been chaged for the building of the Arena?

 

[We'll_live_and_die]

Couldn't give a fuck. Lets hope for a win on Saturday though eh.

 

[cloughie]

Couldn't give a fuck. Lets hope for a win on Saturday though eh.

your 5 replies are becoming more boring than the subject you keep replying to

 

[stupot07]

From what I understand the council payed about £15-20m towards the build and got a £113m building (excluding cost of land purchase) for £15-20m. ACL then paid £20m for the 50 year lease therefore paying back the council.

 

[lordsummerisle]

From what I understand the council payed about £15-20m towards the build and got a £113m building (excluding cost of land purchase) for £15-20m. ACL then paid £20m for the 50 year lease therefore paying back the council.

So we should all be outraged that 300,000 hard working tax-payers and pensioners got an asset really cheap, but charged top whack rent on it?

These bastard buy to let people what's wrong with this country.

 

[Warwickhunt]

Let's not lose sight of the role the taxpayers of Coventry played in the building of the Arena. As such, and with the greatest of respect, ACL - and the council's role therein - have the biggest social responsibility to the financial welfare of the 95% of the taxpayers of The City who don't frequent The Ricoh.

Why should hard working families and pensioners, who's taxes paid for the place to be built get a raw deal at the hands of a Mayfair-based shadowy hedge-fund fronted by a floppy-haired chancer who probably had to have Coventry pointed out to him on a map when he was given his highly-paid role?

Mungo how much exactly did the council pay up front to get the Stadium built? Nothing! The ground was cleared by CCFC which drained £2.7 Million of the Cash flow - the Council & Higgs got the bank to fund the building and the rent they received off CCFC covered the repayments required. That is why ACL is kicking off

 

[fernandopartridge]

Let's not lose sight of the role the taxpayers of Coventry played in the building of the Arena. As such, and with the greatest of respect, ACL - and the council's role therein - have the biggest social responsibility to the financial welfare of the 95% of the taxpayers of The City who don't frequent The Ricoh.

Why should hard working families and pensioners, who's taxes paid for the place to be built get a raw deal at the hands of a Mayfair-based shadowy hedge-fund fronted by a floppy-haired chancer who probably had to have Coventry pointed out to him on a map when he was given his highly-paid role?

When did the taxpayers of Coventry agree for the council to take a mortgage out against the Ricoh?

 

[Bluegloucester]

PWKH, do you know the exact breakdown of the stadium costs and who paid what?

 

[Chipfat]

Grendal,

2 questions,

1) Do you think SISU are good for our club now and in the future.
2) And have they been good and will be good at running our club now and in the future.

Dont want to get into debate but being as you questioned my loyalty and passion for the club yesterday just wanted to see your stance.

 

[torchomatic]

Become an MP.

I I only wish my landlord would reduce my rent by two thirds, let me carry on living in my house then offer to pay my weekly food bill, .

 

[oldskyblue58]

how it was all paid for:

Council equity £10m
Sale of land to Tesco £42.42m
sale of land to Tesco pd in kind £17m (think this was picking up the costs that CCFC couldnt pay re decontamination & infrastructure originally these costs were CCFC's investment in the project but they didnt have the money to actually pay them)
Interest earnt £985k
hotel premium £470k
residual land sale £5m
Prudential borrowing £21m
Surplus rent paid £248K (assume by ACL - chose not to pay an annual rent £1.9m (i think) but to pay a one off lease premium for a 49year lease)
European Regional Development fund £4.374m
Section 106 (whatever that is) £64K
Advantage West Midlands £4.8m
Isle of Capri £5.9m
CCFC direct pd to ACL £1.758m (this was part of what the charity bought off CCFC i believe - they invested £6.3m to buy the shares from CCFC in 2003)
Net corporate interest recd £610k
Additional ACL borrowing £1.1m
Shortfall £2.947m (not sure how financed) Council i assume

Total cost £118.677m

taken from council report dated 27/06/06

*edit oh and council own the freehold to the site and land was valued at acquisition for the project at £24.1m

 

[lordsummerisle]

At least all this debate has helped the local economy.

B and Q have totally sold out of pitchforks.

 

[Guzzrate]

Another point of view.....

What if the FA do an investigation and find financial Irregularities with your books?

Swindon were relegated a couple of leagues. I'm not saying this is the same scenario, as the Swindon board then were crooks.

From reading Fisher's statement, this part was of particular interest:

This is about the club setting up a sustainable business model. We will fulfil our fixtures and, by the way, we have contingencies because we are managing our risks, you have to plan. So if the Ricoh shut the doors, we will play elsewhere.

"If forced into a corner that’s exactly what we’ll do."

It sounds like they are planning on getting evicted come what may.....

 

[stupot07]

So we should all be outraged that 300,000 hard working tax-payers and pensioners got an asset really cheap, but charged top whack rent on it?

These bastard buy to let people what's wrong with this country.

Well those bastard buy to let people are part responsible for the massively over price cost of housing, that means that people first home now cost £90-100k instead of £30-40k from 10 years ago, and what has pushed up rental prices.

 

[Mary_Mungo_Midge]

In what way have the taxpayers actually individually been chaged for the building of the Arena?

Sorry for the delay - but work's annoyingly pressing right now. In the interim, I'll think you'll find the answer articulated above by oldskyblue58's listing

 

[torchomatic]

Could you list how much went into BRs back pocket?

how it was all paid for:

Council equity £10m
Sale of land to Tesco £42.42m
sale of land to Tesco pd in kind £17m (think this was picking up the costs that CCFC couldnt pay re decontamination & infrastructure originally these costs were CCFC's investment in the project but they didnt have the money to actually pay them)
Interest earnt £985k
hotel premium £470k
residual land sale £5m
Prudential borrowing £21m
Surplus rent paid £248K (assume by ACL - chose not to pay an annual rent £1.9m (i think) but to pay a one off lease premium for a 49year lease)
European Regional Development fund £4.374m
Section 106 (whatever that is) £64K
Advantage West Midlands £4.8m
Isle of Capri £5.9m
CCFC direct pd to ACL £1.758m (this was part of what the charity bought off CCFC i believe - they invested £6.3m to buy the shares from CCFC in 2003)
Net corporate interest recd £610k
Additional ACL borrowing £1.1m
Shortfall £2.947m (not sure how financed) Council i assume

Total cost £118.677m

taken from council report dated 27/06/06

*edit oh and council own the freehold to the site and land was valued at acquisition for the project at £24.1m

 

[skyblueinBaku]

Could you list how much went into BRs back pocket?

'Undisclosed'.

 

[dongonzalos]

Could you list how much went into BRs back pocket?

Not that relevant really. It happened before SISU. They knew what they were signing up to. Better off looking at what they are doing know and how they have contributed to this situation since they came in.

 

[cloughie]

Could you list how much went into BRs back pocket?

back pocket.......err and side pockets inside pockets under the bed and anywhere else thieves hide it

 

[oldskyblue58]

Could you list how much went into BRs back pocket?

subject to a non disclosure agreement i believe torch

 

[gb8702]

OSB . The agreement includes a number of obligations you must fulfil to get planning consent for any development . This is known as the "Section 106 Agreement"

 

[Chipfat]

Allegedly I did hear or it was suggested at HR when cash turnstiles were in operation that a certain few would enter a prize draw after home games.. To whom the winner would be allowed to pick a number out the hat related to a certain cash turnstiles who days taking were handed over to the lucky winner...

 

[chiefdave]

how it was all paid for:

Council equity £10m
Sale of land to Tesco £42.42m
sale of land to Tesco pd in kind £17m (think this was picking up the costs that CCFC couldnt pay re decontamination & infrastructure originally these costs were CCFC's investment in the project but they didnt have the money to actually pay them)
Interest earnt £985k
hotel premium £470k
residual land sale £5m
Prudential borrowing £21m
Surplus rent paid £248K (assume by ACL - chose not to pay an annual rent £1.9m (i think) but to pay a one off lease premium for a 49year lease)
European Regional Development fund £4.374m
Section 106 (whatever that is) £64K
Advantage West Midlands £4.8m
Isle of Capri £5.9m
CCFC direct pd to ACL £1.758m (this was part of what the charity bought off CCFC i believe - they invested £6.3m to buy the shares from CCFC in 2003)
Net corporate interest recd £610k
Additional ACL borrowing £1.1m
Shortfall £2.947m (not sure how financed) Council i assume

Total cost £118.677m

taken from council report dated 27/06/06

*edit oh and council own the freehold to the site and land was valued at acquisition for the project at £24.1m

So when you strip out all the grants and payments from people like Tesco etc we're looking at the council putting 10m in and a loan of 32.1m. ACL then paid the council 20m (?) for the lease so surely the council have doubled their money straight away. Higgs paid 6.3m to CCFC for half of ACL (did the council not pay anything for the other 50% of ACL).

If ACL pay essentially around 40K a year for the lease our rent does seem a touch on the high side to say the least! It looks to me like CCFC are covering the cost of the lease and the repayment of the loan. What am I missing here because looking at that I would say ACL are the ones that need to have a major rethink.

Another point, it was mentioned last night by someone (sorry forget who) that when the rent was agreed 2 members of the CCFC board were also on the ACL board, surely that's a conflict of interest?

 

[torchomatic]

Extremely relevant. We'd still be at HR.

Not that relevant really.