Ricoh Arena - parliamentary debate (8 Viewers)

[SBT]

Looks like a debate on the stadium situation's been called in parliament for Tuesday - only half an hour, so doubt they'll cover much ground though!

http://www.parliament.uk/mps-lords-and-offices/offices/commons/speakers-office/wadjourns1/

 

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[VegetableSamosa]

Good old Bob Ainsworth. I wonder what sort of answers/consensus he wants to get though.

 

[ampthill_sba]

Has Ainsworth expressed his views publically on the acl-sisu-Cov council debacle?

 

[Warwickhunt]

He is concerned because of the Councils involvement - public funds being used to proffer loans etc!

 

[jimmyhillsfanclub]

...Ahh yes......westminster politicians...they'll sort it all out...:facepalm:

 

[JimmyHillsbeard]

Has Ainsworth expressed his views publically on the acl-sisu-Cov council debacle?

I bent his ear about it 15 months ago when he and I were speaking at an event together in Bournemouth. He was a bit surprised to be asked about it on the south coast.

Anyway his view at that time was broadly that the council would rather the club went bust than they should deal with Sisu.

 

[JimmyHillsbeard]

And it's in Westminster Hall not the Commons Chamber. Attendance wil probably be worse than in the Cochester end at the Ricoh on Tuesday.

 

[VegetableSamosa]

And it's in Westminster Hall not the Commons Chamber. Attendance wil probably be worse than in the Cochester end at the Ricoh on Tuesday.

If I wasn't inundated with deadlines I'd take a trip over to see how it goes down. I've got a few connections with Labour Youth so I might try and get a talk with him arranged and see what he has to say on the topic.

 

[hamil99]

Wish I was in London would love to go to this. Shame i live in Devon and have work :/

 

[Jack Griffin]

Thought I'd ask directly ... worse he can say is no..

To: [email protected]
Re:Adjournment debate Tuesday 12 March - Coventry City Football Club and the Ricoh Arena

Dear Bob,

As a supporter of Coventry City and a regular poster on http://www.skybluestalk.co.uk/ I would be interested in hearing how the debate on "Coventry City Football Club and the Ricoh Arena" you are holding tomorrow goes.

There is a topic about the debate on this site, which is how I came to hear of it, http://www.skybluestalk.co.uk/threads/27928-Ricoh-Arena-parliamentary-debate

It would be of great interest to me & many other posters to post minutes/transcript of the debate there, if that is a possibility.

Yours sincerely
My real name

 

[chiefdave]

any chance this will show up on BBC Parliament? Do they usually show this sort of thing? Would imagine a public record of the meeting would be available afterwards if not.

 

[Jack Griffin]

any chance this will show up on BBC Parliament? Do they usually show this sort of thing? Would imagine a public record of the meeting would be available afterwards if not.

Thanks for that prompt Dave, lazy me found the place to go tout de suite.. looks like they lag behind real time by a few days, most recent set is for last Thursday.

http://www.theyworkforyou.com/whall/?d=2013-03-06

 

[elephanttears]

Looks like BBC Parliment is totally live today from 9.30am so should be on?

 

[Pete in Portugal]

The debate is to be broadcast over the internet - here's the link:

http://www.parliamentlive.tv/Main/Player.aspx?meetingId=12785

Broadcast starts at 14:30pm but CCFC debate scheduled to start at 16:30pm

 

[Mucca Mad Boys]

The debate is to be broadcast over the internet - here's the link:

http://www.parliamentlive.tv/Main/Player.aspx?meetingId=12785

Broadcast starts at 14:30pm but CCFC debate scheduled to start at 16:30pm

Thanks, I'm going to try and get home for that!

 

[Houchens Head]

Thought I'd ask directly ... worse he can say is no..

To: [email protected]
Re:Adjournment debate Tuesday 12 March - Coventry City Football Club and the Ricoh Arena

Dear Bob,

As a supporter of Coventry City and a regular poster on http://www.skybluestalk.co.uk/ I would be interested in hearing how the debate on "Coventry City Football Club and the Ricoh Arena" you are holding tomorrow goes.

There is a topic about the debate on this site, which is how I came to hear of it, http://www.skybluestalk.co.uk/threads/27928-Ricoh-Arena-parliamentary-debate

It would be of great interest to me & many other posters to post minutes/transcript of the debate there, if that is a possibility.

Yours sincerely
My real name

That's a strange name....

 

[rupert_bear]

This is more significant than people may think

 

[sky blue john]

This is more significant than people may think

Agreed !!
I wonder if Sisu will try to block it with there lawyers

 

[mattylad]

Agreed !!
I wonder if Sisu will try to block it with there lawyers

You have no idea on Bob Ainsworth's stand point do you :facepalm:

 

[RoboCCFC90]

You have no idea on Bob Ainsworth's stand point do you :facepalm:

Isn't he against the way CCC have dealt with things?

 

[Moff]

Agreed !!
I wonder if Sisu will try to block it with there lawyers

I do believe they cant block parliamentary privelidge, so if Bob wants to say it, he can.

 

[grego_gee]

I do believe they cant block parliamentary privelidge, so if Bob wants to say it, he can.

Why would SISU try and block it
if there is any parlimentary interest, I think it might be questioning the actions of CCC in using council funding to support ACL (a commercial company) !!!
We'll see

imp:

 

[coundonskyblue]

<p>

Why would SISU try and block it</p>
<p>if there is any parlimentary interest, I think it might be questioning the actions of CCC in using council funding to support ACL (a commercial company) !!!</p>
<p>We'll see</p>
<p>&nbsp;</p>
<p><img src="images/smilies/hat.gif" border="0" alt="" title="Pimp" smilieid="48" class="inlineimg" />

Doubt he would do ask that as its perfectly legal and puts cash into the public coffers. He's hardly likely to make himself look stupid.

 

[WillieStanley]

As far as I'm aware, Bob isn't a real football fan, but my second hand information indicates that he is disgusted that there is a potential for Coventry to be without a comptetative football club and lays the blame at the council and charity for taking financial advantage of our plight all those years ago and repeatedly whacking us with it now.

 

[grego_gee]

<p>

Doubt he would do ask that as its perfectly legal and puts cash into the public coffers. He's hardly likely to make himself look stupid.

Very few things qualify as "perfectly legal", and this is far from one of them. Closer to "hardly legal".
Whether or not it puts cash into the public coffers depends on the continued success of ACL. It might turn into a loss! No financial transactions are guaranteed to be successful but in any case public funding is not intended for financing any (nearly)"independent" companies - LA's are under great pressure to maintain spending on public services. Many are making cutbacks - are CCC insulated from all this?
How can they justify spending 14m on bailing out ACL in such a climate?

imp:

 

[Bluegloucester]

Very few things qualify as "perfectly legal", and this is far from one of them. Closer to "hardly legal".
Whether or not it puts cash into the public coffers depends on the continued success of ACL. It might turn into a loss! No financial transactions are guaranteed to be successful but in any case public funding is not intended for financing any (nearly)"independent" companies - LA's are under great pressure to maintain spending on public services. Many are making cutbacks - are CCC insulated from all this?
How can they justify spending 14m on bailing out ACL in such a climate?

imp:

CCC have not spent their own money, they have borrowed it on better terms than ACL could.

 

[grego_gee]

CCC have not spent their own money, they have borrowed it on better terms than ACL could.

Its still council funding!

imp:

 

[Bluegloucester]

Its still council funding!

imp:

It's not from the Council's coffers

 

[grego_gee]

its on now
click here

imp:

 

[oldskyblue58]

Council borrow £14m from central government at favourable rates...... then lend that money on at a higher rate to a profit making body key to the redevelopment of a large part of the city, a body that the council is major stakeholder in and will reduce that body's costs and cash flows, plus because it is structured the debt reduces each month. Council and Public works Loan dept reasonably expect to be repaid in full

or

CCFC benefits from £45m in loans from a hedge fund (apparently) at 0% interest and still cant make a go of it, ....... CCFC in a volatile risky industry, annual losses, massive loans, going concern problems, liabilities increasing daily, poor track record, high credit risk....... source of funding unknown but hedge funds regularly invest funds for pension companies etc so could easily be making investments that affect each of us (we dont know)

My own view is that neither is wrong but you have to understand the risks and each has to accept the consequences if it all goes wrong

 

[Grendel]

Council borrow £14m from central government at favourable rates...... then lend that money on at a higher rate to a profit making body key to the redevelopment of a large part of the city, a body that the council is major stakeholder in and will reduce that body's costs and cash follows, plus because it is structured the debt reduces each month. Council and PUblic works Loan dept reasonably expect to be repaid in full

or

CCFC benefits from £45m in loans from a hedge fund (apparently) at 0% interest and still cant make a go of it, ....... CCFC in a volatile risky industry, annual losses, massive loans, going concern problems, liabilities increasing daily, poor track record, high credit risk....... source of funding unknown but hedge funds regularly invest funds for pension companies etc so could easily be making investments that affect each of us (we dont know)

My own view is that neither is wrong but you have to understand the risks and each has to accept the consequences if it all goes wrong

I know you love to make out your neutrality but those particular comparisons were about as neutral as North Koreas view on their southern neighbours.

 

[oldskyblue58]

and the essential facts of what i posted are wrong then?

and read my last sentence again

 

[grego_gee]

I think its delayed by 30 mins

imp:

 

[Grendel]

and the essential facts of what i posted are wrong then?

and read my last sentence again

I believe they are very skewed. No one knows the new restructured terms that ACL now have. The making profit bit o assume is the direct quote from the council which is purely in the assumption they deliver over the payment period.

We can pretty much assume the only reason that they did what they did was because ACL were unable to meet Yorkshire banks patent terms or a fear of the loan being bought by a third party. In reality only 1 third party was ever likely to make such an action.

So will the football be better off? Well only time will tell but I suspect not.

 

[Jack Griffin]

I think the debate is running a bit late, just started the previous topic 3 mins ago.

I think I spied Geoffery Robinson sitting in the room.. either that or it was an Elephant?