i think she means the 14 million pounds the council used of tax payers money to prop up their own business. ACL will have to sign the agreement if they want to retrieve some of that money. without the club the stadium is going to run at a bigger loss, a loss it has proven it can not stand up to. The mortgage can not be kept up by taxes, meaning eventually the coucil will lose its grip on the ricoh. maybe the 3 year plan is actually how long the sisu accountants have given ACL to go bust! just a thought
Then I suggest you read the article again instead of twisting what was to suit what I assume is a personal agenda. Nowhere in the article does she refer to the Council loan indeed she is very specific as to what she is talking about.
Here is something to think about. ACL were paying out £1.6m in repayments to yorkshire bank. Now i could be wrong but the Council Loan is 14.4m at 2.5% over 25 years which equates to cash requirement of approx 780K pa. saves £800k in cash flow. An arrangement that the CCC makes a profit on btw
Ah but you say they are missing £1.3m in rent. Well no they are missing £1.3m in rent, service charges and recharges. Recharges and service charges like pitch heating being the interesting elements. When people refer to it as "rent" that is actually inaccurate. Say they can save £300k because if not used then the costs drop
Leaves them short still - well yes until you take out the salary savings - you know little things like not replacing the CEO and other staff what shall we call that ? say another £300k
No the stadium couldnt stand up to losing CCFC as a tenant and keeping the Yorkshire bank loan - but things dont stay still do they, it is also what got SISU so vexed - things were not supposed to change for the plan to work.
We know they have lost the CCFC income. We know they have saved on the loan in terms of cashflow. We know that people forget that the lease / licence includes a recharge of costs, costs at least in part that if not used wont be incurred. We know that ACL have restructured their staff levels particularly costly high up executives.
Doesnt look like any need for taxes to prop the stadium up or any significant move to loss or even a negative cash flow. Would suggest SISU need new accountants
Is it all plain sailing - absolutely not. The stadium and club should have a long term mutually beneficial relationship. But before you go spinning out things that were not actually reported I think you need to look at things properly.
Just to be clear I want CCFC at the stadium with a good deal that secures the clubs future. I dont however agree they should get it at under value because some hard nosed swedish american woman messed up and is now trying to bully her way to a solution that will in reality only benefit one party - SISU