ACL and the City Council announcement (22 Viewers)

[Grendel]

I'll never dance on the club's grave, but I will SISU's. They've had shares for free, now want rent for free, still don't have a business plan that makes sense, have sold twice the value of player then they've invested in, and overseen gates almost half as they've taken us to the lowest league position in two generations.

If the club us wound up, and I prey it's not, it'll be the car crash of financial mismanagement from your mates in Mayfair that have placed the football club in this perilous state; and not the fault if those faced with applying the final blow or not

Strange really - last time the club were on the brink they seemed to be getting symapthy from the fans even though the mismanagement was as bad and in 2000 worse. Still no doubt Geoffrey Robinson, Brian Richardson, Joe Elliot and Paul Fletcher would all pass Mutton's "fit and proper" persons test so everything would be alright.

 

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[Mary_Mungo_Midge]

Strange really - last time the club were on the brink they seemed to be getting symapthy from the fans even though the mismanagement was as bad and in 2000 worse. Still no doubt Geoffrey Robinson, Brian Richardson, Joe Elliot and Paul Fletcher would all pass Mutton's "fit and proper" persons test so everything would be alright.

Yet you'll happily berate those who mismanaged before; but condone those who were meant to build a brighter tomorrow, learning from past mistakes; and in effect have taken us closer to extinction than ever before?!?

 

[dadgad]

That's ok I don't supposed your council tax will be affected by this joint venture will it?

Don't be facile.
I know it's tough, but try.

The Council have done well here.
They represent all of us and will still be here when those that purport to run the club have long since disappeared.

 

[BurbageSkyBlues]

Nope, nor would I invest in something that was overly reliant on a football club to stay in business,

Agreed, and thank goodness the Ricoh has other incomes then....?

At the moment, the football revenue is the difference between profit and loss, but it is not the majority income , according to posts for their accounts by better informed people on here, I believe?

Lord, I don't disagree with your sentiments, in essence, but I do differentiate between CCFC and SISU. I would be happy for both to succeed, but not happy for the latter to mitigate their losses at our Club's and our City's expense.

 

[wingy]

What i'd like to know is, where were you all five years ago when my 15 yr old dauaghter got 80-100 outside the council demanding they help the club over the stadium ownership,its a tad late to get righteous now.If sisu had any Brains /ACCUMEN THEY WOULD HAVE DONE THEIR RESEARCH PROPERLY AND TACKLED THE ISSUE THERE AND THEN ,THERE WOULD HAVE BEEN A READY MADE LOBBY GROUP.

 

[Grendel]

Don't be facile.
I know it's tough, but try.

The Council have done well here.
They represent all of us and will still be here when those that purport to run the club have long since disappeared.

Please enlighten me -- in what way do they represent all of us. Does that include the workers who have been made redundant in their £60 million budget cut this year. How are they being represented by the council?

 

[cloughie]

Strange really - last time the club were on the brink they seemed to be getting symapthy from the fans even though the mismanagement was as bad and in 2000 worse. Still no doubt Geoffrey Robinson, Brian Richardson, Joe Elliot and Paul Fletcher would all pass Mutton's "fit and proper" persons test so everything would be alright.

Another smoke screen from you Grenedel. fit and proper person test is not done by mutton,

Done by the selling party ie Higgs and agreed by the other shareholder The council.

You may wish you could dictate the CCFC fate but mutton can't

 

[Grendel]

What i'd like to know is, where were you all five years ago when my 15 yr old dauaghter got 80-100 outside the council demanding they help the club over the stadium ownership,its a tad late to get righteous now.If sisu had any Brains /ACCUMEN THEY WOULD HAVE DONE THEIR RESEARCH PROPERLY AND TACKLED THE ISSUE THERE AND THEN ,THERE WOULD HAVE BEEN A READY MADE LOBBY GROUP.

I agree with that.

 

[TommyAtkins]

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Couldn't agree more. Well said.

Any objective observer will say the same

Sadly, we have moved beyond that

 

[ilikesisuhatethecouncil]

i just wrote about 60 lines of suff. pressed the back space bar and bang gone the lot. now you will never know why Sisu are great for us and the council are killing us.


oh well

 

[Grendel]

Yet you'll happily berate those who mismanaged before; but condone those who were meant to build a brighter tomorrow, learning from past mistakes; and in effect have taken us closer to extinction than ever before?!?

We are no closer to extiction than 5 years ago. I have never "condoned" or supported SISU either and your rather juvenile asides are becoming tiresome.

 

[BurbageSkyBlues]

Anyway, interesting day, and healthy debate.....but time for bed.!

Goodnight all...

 

[TommyAtkins]

Agreed, and thank goodness the Ricoh has other incomes then....?

At the moment, the football revenue is the difference between profit and loss, but it is not the majority income , according to posts for their accounts by better informed people on here, I believe?

Lord, I don't disagree with your sentiments, in essence, but I do differentiate between CCFC and SISU. I would be happy for both to succeed, but not happy for the latter to mitigate their losses at our Club's and our City's expense.

At the moment, SISU success and CCFC success have become synonymous.

We need some sort of ownership over the stadium.

That means backing SISU in this dispute

 

[dadgad]

Some people are so blinded by their hatred of Sisu they would gladly see the club go down the tubes just to prove a point.

It is interesting to note that when criticising others the incurably thick describe themselves.
Well done Grendel, you nailed yourself there.

 

[TommyAtkins]

It is interesting to note that when criticising others the incurably thick describe themselves.
Well done Grendel, you nailed yourself there.

Grendel is absolutely right when it comes to the anti-SISU apologists being prejudiced.

Try it. Find a non Cov fan and explain.

They will quickly identify that the club needs the Ricoh

 

[Jack Griffin]

Some people are so blinded by their hatred of Sisu they would gladly see the club go down the tubes just to prove a point.

Of course not, no one wants the club to fail, but I damn well won't stand for ACL and the council of my City be bullied by those finance boot boys.

I guess you'd rather see SISU force ACL out of business and conduct a hostile takeover as it 'benefits the club'.

Give me strength! Some people have principles that transcend football.

 

[cloughie]

Please enlighten me -- in what way do they represent all of us. Does that include the workers who have been made redundant in their £60 million budget cut this year. How are they being represented by the council?

Again another smoke screen

£60 million budget cut imposed by whitehall (the government)

The money invested in the loan will return a better return than could be gained else where and as you know does not come out of the annual running budget but the reserves investments

 

[TommyAtkins]

Yes, an entirely relevant budget cut, caused by over-spending.

The entire world faces severe cuts because of spending that was unsustainable. Worth reading IMF publications.

Coventry City FC is in a world of hurt because we spent money we didn't have.

And yet, so many people here advocate spending even more money - including rent - to achieve short term gain but which places the long-term future of our club at risk

 

[Grendel]

It is interesting to note that when criticising others the incurably thick describe themselves.
Well done Grendel, you nailed yourself there.

Please don't try and sound educated old chap. It really doesn't suit you.

 

[Grendel]

Of course not, no one wants the club to fail, but I damn well won't stand for ACL and the council of my City be bullied by those finance boot boys.

I guess you'd rather see SISU force ACL out of business and conduct a hostile takeover as it 'benefits the club'.

Give me strength! Some people have principles that transcend football.

Sure you were protesting when we were playing Leon best while refusing to pay his transfer fee, demanding we settled the £5 million inland revenue bill and were very concerned when the telegraph suggested local creditors were owed thousands of pounds.

Yes I bet you were very principalled then.

 

[Mr T - Sukka!]

You are a football club, you own your own ground. What you dont do is sell it! :facepalm: Without buying outright a new stadium of your own. Financial football suicide!

Duh duh duh du! Fuckin useless!
Duh duh duh du! Fuckin useless!

All this shit mess is caused by people running the club without one care, thought or consideration about the future.

Why do it? I cannot for the life of me work out why the board of CCFC agreed to it. :jerkit: the lot of them!

 

[lordsummerisle]

Anyway, interesting day, and healthy debate.....but time for bed.!

Goodnight all...

Goodnight Jim Bob..

 

[lordsummerisle]

You are a football club, you own your own ground. What you dont do is sell it! :facepalm: Without buying outright a new stadium of your own. Financial football suicide!

Duh duh duh du! Fuckin useless!
Duh duh duh du! Fuckin useless!

All this shit mess is caused by people running the club without one care, thought or consideration about the future.

Why do it? I cannot for the life of me work out why the board of CCFC agreed to it. :jerkit: the lot of them!

Wank the lot of them?

Don't think they deserve that after screwing the club up to be honest.

 

[TommyAtkins]

This is the intriguing issue: if you want CCFC to survive and develop, one must back SISU. If you want a fair deal for the taxpayers of Coventry, one should back ACL and the Council.

Somewhere in between is a potential deal.

Like it or not, the club must have access to Ricoh ownership - in some form.

As I said previously: if SISU had left in the summer and this was a new owner arguing with ACL/Council, the fans would support the new owner.

What we are seeing here is fans prejudice and hypocrisy

 

[cloughie]

Yes, an entirely relevant budget cut, caused by over-spending.

The entire world faces severe cuts because of spending that was unsustainable. Worth reading IMF publications.

Coventry City FC is in a world of hurt because we spent money we didn't have.

And yet, so many people here advocate spending even more money - including rent - to achieve short term gain but which places the long-term future of our club at risk

Grendel stated
Does that include the workers who have been made redundant in their £60 million budget cut this year. referring to The council when it isn't the council making people redundant, it is whitehall who made the cuts

The overwhelming majority on here have agreed a rent reduction is needed

 

[TommyAtkins]

"The overwhelming majority on here have agreed a rent reduction is needed"

Hm. Interesting. The latest polls indicate that the majority of the UK population favour the re-introduction of the death penalty. How far do we trust these polls. To what extent do we accept the wishes of the people. Which, of course, is the bedrock of democracy......

Whitehall has not made people redundant at the local level. Local Councils have done that given the budgetary restrictions. Most, if not all, Councils store away millions in investment programmes - the Icelandic issue being the most recent broadcost example of the risk.

But the issue here is the same: CCFC is spending more than it earns. Therefore, it needs to cut costs. In this case, we can pay the rent but to do so, we must reduce the squad and wagebill

 

[Grendel]

Grendel stated
Does that include the workers who have been made redundant in their £60 million budget cut this year. referring to The council when it isn't the council making people redundant, it is whitehall who made the cuts

The overwhelming majority on here have agreed a rent reduction is needed

The £60 million budget cut was referred to on Midlands Today in the late bulletin and it was questioned how can the council justify buying into a private enterprise in the backdrop of such austerity.

Don has frequently criticised the club as it gets negative press. Tonight the City is getting negative press. Still I suspect that will be fine.

 

[sky blue john]

Can someone explain the outcry from those opposed to today's move to transfer the ownership of the mortgage?

Put simply, if the Yorkshire bank had passed the mortgage on to, say, the HSBC, would it have been a problem?

Ultimately, this gives ACL some leeway on the rent that they require, if the interest rate is lower than that charged by YB. That has to be good news for the club, as it means that ACLcan afford to accept a lower rent from the club.
For example, a 5% interest rate on £14.4M , means £722K in interest per year. A 2% interest rate means £288K interest per year, saving £434K, which could be passed on as a rent reduction.

Exactly but there are plenty beating on here slagging the counsel off !!!
Sisu have forced this situation anyway but in torch grendle and others eyes they are blind to this fact !!!!

 

[torchomatic]

Whitehall make the cuts but the Council wholly decides where the axe falls, so don't try and make out that CCC are whiter than white. Get rid of the Chief Exec. That would save a few libraries and youth centres.

Grendel stated
Does that include the workers who have been made redundant in their £60 million budget cut this year. referring to The council when it isn't the council making people redundant, it is whitehall who made the cuts

The overwhelming majority on here have agreed a rent reduction is needed

 

[TommyAtkins]

Exactly but there are plenty beating on here slagging the counsel off !!!
Sisu have forced this situation anyway but in torch grendle and others eyes they are blind to this fact !!!!

Because it isn't fact - it is an interpretation of the material placed in public.

It is also disingenuous.

The issue here is whether or not we want CCFC to survive as a sustainable club. To do so, they need some sort of Ricoh ownership.

 

[lordsummerisle]

Exactly but there are plenty beating on here slagging the counsel off !!!
!

Never liked lawyers myself.

 

[@richh87]

I bet SISU aren't feeling their usual clever, oh so clever, selves tonight.

Let's hope the winding up order never comes. I don't think it will.

 

[dadgad]

Try it. Find a non Cov fan and explain.

They will quickly identify that the club needs the Ricoh

Please spare us this nonsense. Where have I said that CCFC do not need the RICOH?
This is not the same as; CCFC must have the RICOH to the detriment of those that have actually paid for it and to the benefit of SISU who (after due diligence) bought a club with no material assets.
You, TA, are barely dry behind the ears........please, do try and catch up.....and in so doing enter the real world.

 

[lordsummerisle]

I bet SISU aren't feeling their usual clever, oh so clever, selves tonight.

Let's hope the winding up order never comes. I don't think it will.

Year anniversary of the glorious Hoffman takeover brought you back has it?

 

[Grendel]

Please spare us this nonsense. Where have I said that CCFC do not need the RICOH?
This is not the same as; CCFC must have the RICOH to the detriment of those that have actually paid for it and to the benefit of SISU who (after due diligence) bought a club with no material assets.
You, TA, are barely dry behind the ears........please, do try and catch up.....and in so doing enter the real world.

I love it when you try and be ironic. Well done.

I assume as all you can do is hurl some not very amusing insults you have as ever nothing to contribute to the discussion.