Breaking news: Acl call off rent talks (8 Viewers)

[Sky Blue Kid]

Danceswithhorses is absolutely bang on. Hence what I said in earlier posts....SISU have NO rights to the "Escrow fund" and should refill the account.
The money never was, and never will be theirs.

 

---

[Jack Griffin]

Not sure if anyone is actually bothered but here are a few facts that the Trust has learned about the proposed deal and some background info.

I'm wondering where this information comes from & if it is available for publication by the Coventry Telegraph?

 

[oldskyblue58]

I never said that at all, I said the CCC could've supported the club by lending money (like they did with ACL) to support the club and the club pays back the money, and I'm guessing ACL have to pay the money back?

SISU have been asset-stripping? Really? Not at all, they've had to sell to keep our CCFC afloat and if they have, it hasn't exactly returned because they (SISU) are in a worse position before they took over! So the myth about 'lining their pockets' just isn't true, because their pockets now have a massive hole in them!

Part of the reason the Council could not have lent the money to CCFC is the credit history of the club SBT. Local Government rules will be quite strict about who they can lend to in the first place and the amount of risk that the loan carries. CCFC in anyones book are a high credit risk with a poor credit history for that reason alone it could well have been excluded. Part of the reason they can lend to ACL is a a) better credit risk b) a better credit history c) has been linked with a government backed redevelopment scheme from the very start.

AS far as SISU ........... got to be honest I am at a loss as to what the hell they are doing, just do not see what their end game is now where they come out well from it

 

[oldskyblue58]

this seems to pull a lot of the articles in the press together

http://www.thepeepingtom.net/tag/ricoh-arena/

 

[Sky Blue Kid]

Well, no, because that money is still CCFC's...

That money does NOT belong to SISU. It is a totally independent account set up for emergency payments to be made to the landlord(ACL) It never did...and never will belong to SISU. It was decided by the FA, and CCFC to do this because of unfairness to other clubs. It was part of the "Build" of the Arena...which incidently CCFC/SISU (Past or present) had no part in either the building of, or ownership of:facepalm:

 

[Mucca Mad Boys]

That money does NOT belong to SISU. It is a totally independent account set up for emergency payments to be made to the landlord(ACL) It never did...and never will belong to SISU. It was decided by the FA, and CCFC to do this because of unfairness to other clubs. It was part of the "Build" of the Arena...which incidently CCFC/SISU (Past or present) had no part in either the building of, or ownership of:facepalm:

It belongs to CCFC, as the FA gave it to us and as SISU own CCFC, it is their money.

 

[Grendel]

That's a little childish.

I think people support their club and would like their owners to act with integrity and honesty. Also to be professional in their business dealings.

SISU really need to start coming up with some solutions themselves!

Other than suggestion mediation in a web site and saying 'they know my number. I will wait for their call'

No Coventry fan wants Coventry to go under. However I imagine most want them to behave like owners of a football club and not Billy's circus.

Rubbish. If Coventry were top of the premiership and they took this stance the council would have no one supporting them. Football clubs can be ran by human rights abusers and can play murders and abusers of women.

Success will always breed excuses and justifications.

 

[Grendel]

ACL may be capitalists, but not to the extent that SISU are. Venture capitalist and vulture funds are one of the things that is most rotten with capitalism. Surely the no-holds-barred exploitative type of capitalist that they are should raise some alarm bells as to their methods, motives and ethics? Are you really incapable of distinguising between scum like these and people like the Higgs Trust? SISU saw us as an easy cash cow-they fecked it up, they dug their heels in, and we are where we are today, suffering due to their greed and incompetence.


And you make the classic SISU fanboy error of assuming that they are CCFC/have CCFC's future at heart :facepalm:. Surely you can see given what they are that is quite impossible now? It's obvious that from their actions they have imperilled the club more than any other custodian, QED. Anyone who backs them is helping to sign our death warrant.

Odd last statement that given the club was 5 minutes from extinction and wasn't paying anybody under the last regime due to flagrant mismanagement.

Then there were the custodians Richardson and mcginnity. Yes they were highly successful. How I wish Mike was back at the helm.

 

[Sky Blue Kid]

Gadaffi(Jnr) King, Hughes, the list goes on doesn't it Grendel.

 

[Mucca Mad Boys]

Link please......btw, the Escrow will only have £500k put back into it...So highly unlikely what you "Understand" to be true.

I've got something better than that, I've got posts from you:

@ Crowsnest....
The Escrow account was used to pay ACL the rent while SISU refused to honourthe contract. Try researching mate. How do you think ACL were paid???......Trylooking back over the last couple of months and actually READ what iswritten!!!
It was set up for just such an occassion that SHITSUperpetrated.:facepalm:

Account Soon To Be Empty
It is understood that an escrow account set up for Coventry City's monthly rent for their usuage of the Ricoh Arena, could be empty in a matter of months.
The account was set up as a form of financial protection for both the club and Arena Coventry Limited.
With the rent not being paid for the last three months, ACL have been forced to withdraw from this account and it is understood that there are only a couple of months worth left in the account.


This was posted by CovisGod...........Are you reading Crowsnest?

That good enough?


... Since you were bitching about bullying not long ago, I thought I'd point out that you were clearly using abusive and offensive language throughout this thread, not the first thread I'm guessing and I'd certainly bet it's not the last either.

http://www.skybluestalk.co.uk/threa...ng-The-Bonus-Structure-At-Coventry-City/page6

 

[ashbyjan]

I'm wondering where this information comes from & if it is available for publication by the Coventry Telegraph?

The Trust (seems an inappropriate word to use considering the current state of the two protagonists) has been constantly talking with both parties trying to get past all the sound bites, misinformation and let's be frank lies put out during this whole sorry affair. We have another meeting scheduled for Friday with CCFC and after that we will be publishing the facts. Whether the CT wishes to carry them will be up to them but they will be sent a copy.

 

[Mary_Mungo_Midge]

Odd last statement that given the club was 5 minutes from extinction and wasn't paying anybody under the last regime due to flagrant mismanagement.

Then there were the custodians Richardson and mcginnity. Yes they were highly successful. How I wish Mike was back at the helm.

No, no no.

It was close to administration; not liquidation. A status we'd be lucky to replicate now with your mates at the helm

 

[oldskyblue58]

Do you know what really depresses and angers me is that in 1995 we had net assets in the CCFC Group of 1.3m ................. in the just under 18 years since then we have had over £215m in sales, God knows how much in player sales (probably well over £50m), we have written off 35m debts and apparently accumulated at least 45m more and have absolutely nothing to show for it, no success, no valuable players, no ground, a perilous future and back in L1 ............ over £350m spent to achieve todays nothing

 

[sky blue john]

No, no no.

It was close to administration; not liquidation. A status we'd be lucky to replicate now with your mates at the helm

You ought to know by now Grendel doesn't know the difference between liquidation and administration !!!!

 

[Mucca Mad Boys]

No, no no.

It was close to administration; not liquidation. A status we'd be lucky to replicate now with your mates at the helm

Only because no one will be stupid enough to buy CCFC.

Why don't don't you compare the predecessors of SISU? You'll clearly see that they made it an impossible investment for anyone, Alki David had 1 look at the finances and thought 'fuck this', as soon as SISU came in the writing was on the wall because of their predecessors' work, not exempting SISU from any blame because they mismanaged the club, but as I said, McGinnity and Richardson fucked CCFC over more than anyone has, including SISU.

 

[Nonleagueherewecome]

Odd last statement that given the club was 5 minutes from extinction and wasn't paying anybody under the last regime due to flagrant mismanagement.

Then there were the custodians Richardson and mcginnity. Yes they were highly successful. How I wish Mike was back at the helm.

I knew somebody would bring up Richardson. No, we were not 5 minutes from extinction, we were 5 minutes from administration. In the past 10 years, how many clubs who have been in administration have gone out of existence? As per, you are distorting reality to suit your agenda. SISU didn't save us by taking over us when they did, they buried us twice as deep.

 

[Nonleagueherewecome]

Rubbish. If Coventry were top of the premiership and they took this stance the council would have no one supporting them. Football clubs can be ran by human rights abusers and can play murders and abusers of women.

Success will always breed excuses and justifications.

Really? A court of law with no axe to grind found against SISU; they would do exactly the same if we were in the top flight, it's the law, it's as objective as you'll find anything. Do you not believe in following this nation's laws?

 

[Mucca Mad Boys]

I doubt very much the Arabs smelt profit in Man City at all. They wanted this club as a badge of honour, a play thing for their easily gotten oil revenues. They've made a complete mockery of football and sportsmanship and club building and ploughed in millions without any chance of return, just as Abramovic did at Chelsea. Two very working class mediocre clubs for donkeys years transformed by megalomaniacs almost overnight.

I know I'm going to get slated for this, but it actually made me understand this stuff better...

On my FM12 season (laughs starting already ), I was Man U (they headhunted me, I didn't start off there!) and the club was losing 12m a month, my 1st season I won the league and the season after, I won everything and actually made a profit for the year despite losing astonishing amounts a month (especially in the transfer window), next season, I get massive sponsorship deals, stadium gets extended (91.6k) and got 12m for winning CL + 6m in TV money (probably more) 15m for the league (as well as TV money), so, my point is here, these clubs can afford to lose colossal amounts a month if they are successful, they get it back, so yes, football can be profitable even for the likes of Man City.

Cue the 'hating' because I mentioned FM!

 

[Brighton Sky Blue]

Rubbish. If Coventry were top of the premiership and they took this stance the council would have no one supporting them. Football clubs can be ran by human rights abusers and can play murders and abusers of women.

Success will always breed excuses and justifications.

If the City were top of the PL we wouldn't be having this debate. We would instead be criticising Guardiola for leaving Iniesta on the bench.

 

[ashbyjan]

Rubbish BSB - Iniesta has been rubbish in the last two games and its time to give Baker another try. Since his winner in the Champions League final he has hardly been given a look in and its not fair to the lad.

 

[Brighton Sky Blue]

Rubbish BSB - Iniesta has been rubbish in the last two games and its time to give Baker another try. Since his winner in the Champions League final he has hardly been given a look in and its not fair to the lad.

That pillock Eakin thinks that Ronaldo should start ahead of Bell for the Juve game. His form has nosedived since Thorn left.

 

[ashbyjan]

Worrying times though with PSG offering Ibrahimovic and £25 million for Bell - really need to hold onto our star players

 

[Nonleagueherewecome]

I know I'm going to get slated for this, but it actually made me understand this stuff better...

On my FM12 season (laughs starting already ), I was Man U (they headhunted me, I didn't start off there!) and the club was losing 12m a month, my 1st season I won the league and the season after, I won everything and actually made a profit for the year despite losing astonishing amounts a month (especially in the transfer window), next season, I get massive sponsorship deals, stadium gets extended (91.6k) and got 12m for winning CL + 6m in TV money (probably more) 15m for the league (as well as TV money), so, my point is here, these clubs can afford to lose colossal amounts a month if they are successful, they get it back, so yes, football can be profitable even for the likes of Man City.

Cue the 'hating' because I mentioned FM!

Hmm, sounds a bit like the SISU masterplan. About that "success"...if you don't get it..:facepalm:

I agree with Ashdown, the Arabs aren't at Man C to make money, Abramocich isn't at Chelsea to make money. They're spending their money! They may well make some of it back via success, but that's a bonus, not an absolute requirement.

 

[Mucca Mad Boys]

Hmm, sounds a bit like the SISU masterplan. About that "success"...if you don't get it..:facepalm:

I agree with Ashdown, the Arabs aren't at Man C to make money, Abramocich isn't at Chelsea to make money. They're spending their money! They may well make some of it back via success, but that's a bonus, not an absolute requirement.

SISU master plan? No, just me on FM12, no, you make your money back and could make profit, TV money, CL money etc. etc. will increase and financial inequality will widen, sad reality of the direction football is heading, these people invest to make a small profit, or just break even. Look at Arsenal, made 17.8m this financial year.

 

[Brighton Sky Blue]

Worrying times though with PSG offering Ibrahimovic and £25 million for Bell - really need to hold onto our star players

I always feared that Thorn would take his best players with him. Still, we're a selling club so I expect several departures in the summer.

 

[Nonleagueherewecome]

SISU master plan? No, just me on FM12, no, you make your money back and could make profit, TV money, CL money etc. etc. will increase and financial inequality will widen, sad reality of the direction football is heading, these people invest to make a small profit, or just break even. Look at Arsenal, made 17.8m this financial year.

Point = missed!

 

[Nonleagueherewecome]

I always feared that Thorn would take his best players with him. Still, we're a selling club so I expect several departures in the summer.

I wish he'd taken Fleck with him...

 

[Grendel]

I knew somebody would bring up Richardson. No, we were not 5 minutes from extinction, we were 5 minutes from administration. In the past 10 years, how many clubs who have been in administration have gone out of existence? As per, you are distorting reality to suit your agenda. SISU didn't save us by taking over us when they did, they buried us twice as deep.

We rely need to look at clubs who have gone into administration since points embargo penalties came into being so lets do that;

Wrexham were in league one now non league
Cambridge were in league two now non league
Rotherham were in league one now league two
Boston were in league two now I believe several tiers down
Luton were in league one and now non league
Stockport were league one and now non league
Chester, rushden and Darlington liquidated
Portsmouth premier league soon to be league two
Plymouth were league one now clinging to league status

Only Palace Leeds and Bournemouth have retained parity position

Only Southampton have seen improvement

So 4 have ceased to exist, 3 are in recovery mode and one with a billionaire backer has improved.

Interesting to see where MMM gets the view most clubs do better once in administration.

 

[Mucca Mad Boys]

Point = missed!

What was your 'clearly put' point?

 

[Houdi]

For those supporting ACL,and there are many good reasons why people do,and it is a reasonable position to take,not many if any seem to want to go to the next logical step,ie ACL TO issuE a winding up order against the club.For if ACL were to do that,then SISU has only 2 real options, firstly pay up,which is surely what you have all requested SISU to do,OR refuse to pay and presumbably put the club into administation,which would mean no more SISU,which is what a lot of fans seem to want anyway.Surely a win win situation.

 

[deanocity3]

HA HA, love that

So that's what Joy Seppella looks like

 

[Nonleagueherewecome]

What was your 'clearly put' point?

Jesus wept..

You were talking about success=reward (albeit on a computer game). SISU gambled on success and had no back up plan. Needing guaranteed success to make money is no business plan!

 

[Nonleagueherewecome]

We rely need to look at clubs who have gone into administration since points embargo penalties came into being so lets do that;

Wrexham were in league one now non league
Cambridge were in league two now non league
Rotherham were in league one now league two
Boston were in league two now I believe several tiers down
Luton were in league one and now non league
Stockport were league one and now non league
Chester, rushden and Darlington liquidated
Portsmouth premier league soon to be league two
Plymouth were league one now clinging to league status

Only Palace Leeds and Bournemouth have retained parity position

Only Southampton have seen improvement

So 4 have ceased to exist, 3 are in recovery mode and one with a billionaire backer has improved.

Interesting to see where MMM gets the view most clubs do better once in administration.

So they all still exist bar 3? EDIT: 2, Chester are back.

 

[Brighton Sky Blue]

I wish he'd taken Fleck with him...

An ever present in the treble winning season no less.

 

[ashbyjan]

I wish he'd taken Fleck with him...

Just don't understand that now Guardiola has Platt back and scoring for fun how can England manager Dowie keep overlooking him