here we are
http://www.coventrytelegraph.net/co...ty-great-says-paul-fletcher-92746-30988406/2/
"But mysteriously, once the purchase of the land and the sale to Tesco had been completed, Coventry City Council informed the football club that they were unable to share with them the profit from the sale of the land due to ‘state aid’ implications."
Two options here:
SISU are complaining that the council aided ACL by lowering the mortgage interest payments, which in turn allowed ACL to make an vastly improved rent offer to the club. This shows SISU to be idiotic in the extreme.
OR
SISU are complaining that the council (which did not use taxpayers money to fund ACL) helped to ensure that the company that it jointly owned could not be put in distress by SISU not paying contracted rent, and denied SISU the chance to pick up the Ricoh on the sly. This shows SISU to be scum.
So:
Stupid or Scum?
To all the SISU sympathises on here, hope your happy now!!!!!!!
They are horrible horrible people and don't care about this club!!!
2 years ago people protested and got ignored. Now the fans who didn't join in the protests and sat back are happy with how this club has gone!
Fuming
On the other hand, if you we're partners with someone in a company and you lent that company money at a low interest rate so they could offer a lower rent to a tenant of one of your buildings, how would you feel if that tenant took to to court for giving that loan?Remember, this is European Commission Competition policy.
State Aid is where a public sector organisation provided financial support of any kind to any organisation engaged in economic activity. The reason CCFC Holdings can challenge is because anyone can challenge as it distorts the market.
Lets say you ran a company manufacturing garage roof's, your company is worth about £500k and you have a competitor who looks pretty much the same. The council 'buy out' a loan that your competitor has for £2m and was going to default on, gives them reduced rates, and in turn makes them viable again.
You'd be pissed off wouldn't you? The council would have just distorted the market not only by busting state aid rules (Exceptions do apply but aren't worth going into here), but also by paying above market rate.
Anyone can challenge, and clearly CCFC Holding have an interest in challenging this rule.
As i said in another thread, i'm sure i read that the council gave state aid rules as a reason why they couldn't give the club any of the money from the tesco land sale back in the day. Wasn't it in that Paul Fletcher interview? So this is slightly ironic.
How did the council not use tax payer funds to finance ACL?
I agree with that SB4U. I mentioned it a while ago. In one heartbeat they give ACL £14M in the next they slash children's services. That's Councils for you though.
just prey that the courts find in the councils favour else almighty brown stuff is heading towards the rotating bladesJust take a step back at the moment, and forget all motives etc on why this is taking place. But what happens if the club wins its appeal in the court? What would that mean to the situation? It must add up for th to do it, but why? Answers on a postcard.....
On the other hand, if you we're partners with someone in a company and you lent that company money at a low interest rate so they could offer a lower rent to a tenant of one of your buildings, how would you feel if that tenant took to to court for giving that loan?
So public money was spent to save the Ricoh?
If that's the case, I actually agree with SISU. I don't pay my taxes to see it spent on wasteful and trival things like this. Its meant to be used on public services.
@Lesreidpolitics: 2/2 #CCFC Holdings will claim in court #acl mortgage with Yorkshire Bank was worth circa £5m, not £14m Coventry council taxpayer paid
You didn't mind them building the arena in the first place though?
You didn't mind them building the arena in the first place though?
I think it was a disgrace that the CCC bailed out ACL, so I'm not too fussed about this, that said, I don't see how this could benefit CCFC. The typical reaction from a many is to label hem scum, and everything else, seems like people are all but rushing into conclusion, but what if CCFC in? Would the still be scum? Well, the law wouldn't see it that way. We don't know the arguments, but unless CCC have broke the law in whatever way, they and ACL will win.
At least we can't say supporting CCFC isn't boring.
So public money was spent to save the Ricoh?
If that's the case, I actually agree with SISU. I don't pay my taxes to see it spent on wasteful and trival things like this. Its meant to be used on public services.
Actually, I did. Nothing wrong with Highfield road. Least the club owned it. Moving to the ricoh has been a financial burden.
I find the whole thing disgusting and immoral.
Let's just flatten the Ricoh, build a prison, throw the whole sorry lot of them (all "sides") in it, lock it tightly & throw away the key. Then go actually play football down the park ourselves instead.
Hang on, what if the CCC had over backed ACL, IF the loan was only worth 5m, not 14m, then it would be a even more of a disgrace to lend 14m of taxpayers money on this, especially given the economic hardship and cuts imposed from he HoC, yes, that would be immoral and disgusting from the CCC.
Stop confusing CCFC with the desires of SISU you stupid little moron !
How did the council not use tax payer funds to finance ACL?
This move makes it absolutely clear what the Sisu game is, if it wasn't already. The plan is to distress ACL. If the Court rules in Sisu's favour it's very bad news for ACL. That said, not sure if a loan to be repaid constitutes state aid.
Hang on, what if the CCC had over backed ACL, IF the loan was only worth 5m, not 14m, then it would be a even more of a disgrace to lend 14m of taxpayers money on this, especially given the economic hardship and cuts imposed from he HoC, yes, that would be immoral and disgusting from the CCC.
Pretty amazing on a thread where its pretty much been proved that SISU wanting to destroy ACL over the past year was not conspiracy theory, you and Grendels only posts are critasing the council. Are you not able to look at anything from an unbiased place? Personally I'm far from convinced that the council are the good guys but one thing is a cold hard fact SISU are the bad guys.
Your post is silly, lending money and bringing in a profit allows the council to provide more services not less and using cuts in childrens services is emotive rubbish.
Pretty amazing on a thread where its pretty much been proved that SISU wanting to destroy ACL over the past year was not conspiracy theory, you and Grendels only posts are critasing the council. Are you not able to look at anything from an unbiased place? Personally I'm far from convinced that the council are the good guys but one thing is a cold hard fact SISU are the bad guys.
Your post is silly, lending money and bringing in a profit allows the council to provide more services not less and using cuts in childrens services is emotive rubbish.