Arena Construction Completion Report (5 Viewers)

[torchomatic]

Christ if I'm a keyboard warrior, what the fuck does that make you?!

Good point Brighton. But how dare you criticise Torchbraindead & Grendimwits beloved sisu. They are perfectly justified in ALL that they are doing and are 100% clean on this. There is NOTHING at all wrong with owners of a club charging itself £2.6m in management fees, having £34 million wiped off debts when they join yet still asking any perspective buyer to pay the FULL money, and they have been utterly open and honest with all their dealings with everyone.

They forked out a fortune to buy this club (£11), so please stop attacking poor old sisu, they are cute little bunnies who were so cruelly considered liars by a judge (although he chose his words very very carefully, and very unfairly considered sharks by the financial world!

Grendel & torch are the keyboard warriors who will save the club in their heads!

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[dionsmagnificentknob.com]

The council also sold land owned by the tax payer to Tesco to fund the build so it was not just £13m or everyone would be building a stadium like the Ricoh! Also they sold the CCFC share to Alan Higgs who promised to act in the best interest of the club and sell it back for the same as what they bought it for. How is this immoral? I can't see what else they could have done!

 

[lordsummerisle]

The council also sold land owned by the tax payer to Tesco to fund the build so it was not just £13m or everyone would be building a stadium like the Ricoh! Also they sold the CCFC share to Alan Higgs who promised to act in the best interest of the club and sell it back for the same as what they bought it for. How is this immoral? I can't see what else they could have done!

Wasn't the majority of the land owned by British Gas? Sure that the club bought it and paid for the decontamination which was quite hefty?

Though was all during Richardson's tenure, so can never be too sure who did or didn't do anything, more importantly no idea where all the money went.

 

[covboy1987]

This was posted on another thread yesterday by Tisza, but think it may have got lost and not given the attention it deserved, really deserves it's own thread.

The poor old council and ACL seem to have done rather well out of our problems over the years from first glance:

http://moderngov.coventry.gov.uk/Da...08 - Arena Construction Completion Report.pdf


Looks like the council got the whole Arena complex for an outlay of about £10million, though more smoke and mirrors with different companies involved shoving the £21million lease cost around between each other in perpetual motion a Mayfair Hedge Fund would be proud of it.

Good find as it highlights a thread i sent a couple of days ago called 'have the council done enough' -
Why don't the council start acting like a council instead of a money making machine and pulling the wool over the eyes of their own people this is why we probably have the worst shopping centre in Europe currently as they seem to want a return immediately and why birmingham is leaving us so far behind
Many councils up and down the country have helped there local club and community by investing for the longer term which is why they get voted in.

It seems to me the our council have made money all the way along right from when highfield road was demolished and all those houses were built they must have earned between 6- 8 million pounds in housing rates alone and planning which has been convientley never been mentioned

 

[dionsmagnificentknob.com]

Wasn't the majority of the land owned by British Gas? Sure that the club bought it and paid for the decontamination which was quite hefty?

Though was all during Richardson's tenure, so can never be too sure who did or didn't do anything, more importantly no idea where all the money went.

This is exactly my point, Are people saying that ACL bought land, paid for it to be decontaminated, built a stadium, Casino, hotel and conferencing venue for £13M? They got the rest of the money from the selling land, sponsorship and raising funds in other ways.

 

[lordsummerisle]

This is exactly my point, Are people saying that ACL bought land, paid for it to be decontaminated, built a stadium, Casino, hotel and conferencing venue for £13M? They got the rest of the money from the selling land, sponsorship and raising funds in other ways.

Yep, EU grants etc(wonder if they'll ask for their money back if UKIP get in??!).

Do think though that the councils financial input is somewhat overstated by many on here.

 

[dionsmagnificentknob.com]

Isn't it the whole point of investment that what you build is worth more than what you pay?

 

[lordsummerisle]

Isn't it the whole point of investment that what you build is worth more than what you pay?

All investment is a risk, property particularly prone to large fluctuations up and down.

Don't think that the Arena complex is worth anything like the amount that was paid to build it anyway.

 

[dionsmagnificentknob.com]

I'd buy it tomorrow if they offered it me for £13M

 

[lordsummerisle]

I'd buy it tomorrow if they offered it me for £13M

Not for £113m though!

Impressed that you have £13million to spare!

 

[dionsmagnificentknob.com]

I'm an illegal immigrant who has been classed as an entrepreneur so therefore have access to loans and grants you could only dream of!