Breaking news about Rent Deal (31 Viewers)

[true sky blue]

acl were about to fold. they were about to fold because of the situation with sisu. the council did not regenerate the area, they used our money to prop up a business they had a hand in. it's fucking disgraceful and the council know it, hence their begging the judicial review is dropped as part of any deal.

 

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[RoboCCFC90]

I really want SISU to accept this offer so we can play at the Ricoh Arena, in our City, however as much as I believe it's a good deal and SISU should accept it, will the offer on the table be incentive enough for SISU to accpet??

I worry about the last part.

 

[Johnnythespider]

It's a shame that the offer made yesterday wasn't made back in January/February, when they made their "final offer and no more negotiation".

Could have avoided the admin(which ACL forced), possibly have kept Robins, and even made the play-offs.

Wonder why on Earth they had to go "nuclear" over such a relatively small amount in the big scale of things, to only offer a much better deal when it's all a bit late, and could have avoided an awful lot of trouble.

If Sisu had turned down the offer back then that was offered yesterday then they would have rightly been excoriated, but don't think that they would have done to be honest, would have left further room, once mutual trust regained, for future negotiations on ownership and revenues etc.

Wasn't it there final offer because it was agreed and then reneged upon by Timmy, and wasn't this also the reason for the no more negotiation stance. Surely if timmy hadn't said ok to the £400 k offer and had said it needs more negotiation we may have come to this point earlier. Agreeing to something in business and then going back on it is quite likely to piss off those that you are dealing with, had it myself once when buying a house, agreed a price, had my mortgage in place but whilst waiting for my purchasers mortgage to come through i was contacted by the estate agent and told i was being put in a mortgage race with another party. I told them to shove it and bought another house.

 

[true sky blue]

Sisu have saved us, kept us afloat and spent millions. they have acted on every occasion to fans screams to remove managers and bought players fans screamed to get, they have done everything possible to put a decent team on the pitch, they were let down by the players enough, but the anti sisu camp have shot us in the foot, the hate towards Sisu is unbelievable and the ignorance of our fans to a business that has done everything they can to help us is simply retarded. we have a group of grown men acting as though they are 5 and they have dropped their ice creams, its pathetic.

world hunger, Syria, Egypt, wars, homelessness, cancer, illness, children dying of hunger - disease, etc that is all deserving of the efforts being put into sisu by the neanderthal types we have at our club.

 

[RoboCCFC90]

Sisu have saved us, kept us afloat and spent millions. they have acted on every occasion to fans screams to remove managers and bought players fans screamed to get, they have done everything possible to put a decent team on the pitch, they were let down by the players enough, but the anti sisu camp have shot us in the foot, the hate towards Sisu is unbelievable and the ignorance of our fans to a business that has done everything they can to help us is simply retarded. we have a group of grown men acting as though they are 5 and they have dropped their ice creams, its pathetic.

world hunger, Syria, Egypt, wars, homelessness, cancer, illness, children dying of hunger - disease, etc that is all deserving of the efforts being put into sisu by the neanderthal types we have at our club.

Including when we all prayed that they wouldn't sell Dann, Fox, Juke and Turner and release Westwood, Gunnar, King and not invest when buying players such as Henderson, Cork, Carroll, Le Fondre and McGoldrick..

Thought so.

 

[The Penguin]

So if they managed to get it down to like £75,000 and then spent more on players and invested it in the club / team, would that not be classed as an amazing bit of business?

Yes. It benefits the football club, and that's all that matters.

 

[CCFC_GT]

i know about judicial reviews and local governement law. and i know the 14 million pound loan was completely unlawful. and a waste of public funds

That's interesting ... so what exactly is your experience and qualification?

 

[James Smith]

acl were about to fold. they were about to fold because of the situation with sisu. the council did not regenerate the area, they used our money to prop up a business they had a hand in. it's fucking disgraceful and the council know it, hence their begging the judicial review is dropped as part of any deal.

So it's not disgraceful for SISU to distress ACL out of business but it is disgraceful for the council to use the money they borrowed (was it the Public Works Loan Board?) to refinance ACL and in turn offer lower rent to our club?

 

[Johnnythespider]

Sisu have saved us, kept us afloat and spent millions. they have acted on every occasion to fans screams to remove managers and bought players fans screamed to get, they have done everything possible to put a decent team on the pitch, they were let down by the players enough, but the anti sisu camp have shot us in the foot, the hate towards Sisu is unbelievable and the ignorance of our fans to a business that has done everything they can to help us is simply retarded. we have a group of grown men acting as though they are 5 and they have dropped their ice creams, its pathetic.

world hunger, Syria, Egypt, wars, homelessness, cancer, illness, children dying of hunger - disease, etc that is all deserving of the efforts being put into sisu by the neanderthal types we have at our club.

That's football fans for you, without that kind of emotional response to things CCFC would have died a long time ago. Happy to be classed as a retard, if being your'e version of intelligent turned me into a worshiper of a hedge fund i wouldhave real problems.

 

[James Smith]

of course the 14 mill was to fight off sisu. why do you think the judicial review is underway??? think

So Swansea council writing off a multi million pound loan they maded to the Liberty Stadium of which they are a part owner is not disgraceful or illegal according to you?

 

[italiahorse]

That's interesting ... so what exactly is your experience and qualification?

Many "No Win No Fee" cases and knows "Penguin guide to the law" sdrawkcab

 

[jaymo132]

That's interesting ... so what exactly is your experience and qualification?

We're still awaiting reply eh GT.....

 

[James Smith]

We're still awaiting reply eh GT.....

Think they said on another thread that they did family law.

 

[Diehard Si]

Sisu have saved us, kept us afloat and spent millions. they have acted on every occasion to fans screams to remove managers and bought players fans screamed to get, they have done everything possible to put a decent team on the pitch, they were let down by the players enough, but the anti sisu camp have shot us in the foot, the hate towards Sisu is unbelievable and the ignorance of our fans to a business that has done everything they can to help us is simply retarded. we have a group of grown men acting as though they are 5 and they have dropped their ice creams, its pathetic.

world hunger, Syria, Egypt, wars, homelessness, cancer, illness, children dying of hunger - disease, etc that is all deserving of the efforts being put into sisu by the neanderthal types we have at our club.

Their initial idea wasn't too bad but they lost their bottle.

However since then they've put millions in, but that's millions to prop up their mess. It's never been solid investment, they abandoned plan A of buying quality young players, selling them on and re-investing and didn't have a plan B. Now they are having to put millions in to fund their mistakes. They also failed in acquiring the Ricoh when they first came in.

 

[jaymo132]

What True sky blue involved in family law......

 

[Deleted member 5849]

I can't see that there have been any winners in this saga.

As an aside, I really hope whenever this does finally conclude we don;t have page after page bickering over who's 'won' and 'lost'.

If *if is a common word!) any deal is reached we should just be thankful for that, welcome it, and try to move on.

 

[oldskyblue58]

As an aside, I really hope whenever this does finally conclude we don;t have page after page bickering over who's 'won' and 'lost'.

If *if is a common word!) any deal is reached we should just be thankful for that, welcome it, and try to move on.

Have to agree the sentiment NW but sadly you know the bickering will happen

there will be no winners ............. and it will be the fans that, as always, lose in some way

 

[DazzleTommyDazzle]

As an aside, I really hope whenever this does finally conclude we don;t have page after page bickering over who's 'won' and 'lost'.

If *if is a common word!) any deal is reached we should just be thankful for that, welcome it, and try to move on.

I agree.

Not sure I'd want to bet on it though.....

 

[SkyBlueBlood]

If ever SISU were going to get their slimy hands on the Ricoh, this is the best opportunity the scum will ever get.

2 days from deadline and bargain rent on the table. Can see an OK but we want half the Ricoh and half of ACL F&B profits.

In any other circumstance you would say they cannot be trusted and we should reject this without a thought, but who will hold their nerve longest SISU or ACL or worst scenario both and we will be in liquidation!

 

[covcity4life]

only side we should all want to win and never lose is coventry city fc!

 

[Deleted member 5849]

and it will be the fans that, as always, lose in some way

Of course!

Forget who is actually right or wrong for a moment (yes yes, I know it's asking a lot ) it's not exactly been a fun time to support our club, has it!

At the same time, some things we do have control over, and one of those is asserting our identity as City fans.

Maybe 10 years ago I'd have had more energy for keeping up the fight, maybe it's a dastardly plan from one side or another to achieve exactly that, but I'm past caring who 'wins' and 'loses' out of this, as long as there's a sodding football team that becomes halfway fun again!

(Christ, when was it last 'fun'? Atkinson's first half a dozen games after taking over from Neal, I reckon!)

 

[oldskyblue58]

only side we should all want to win and never lose is coventry city fc!

have got to go lay down............ first thing in ages that I have read from you that I can agree with...... a rare gem :laugh:

 

[duffer]

i know about judicial reviews and local governement law. and i know the 14 million pound loan was completely unlawful. and a waste of public funds

Excellent. Here was me thinking that you were just a blustering half-wit, and it turns out that you've got real expertise in this area. I apologise for thinking wrong of you.

You'll be able to provide us with some evidence to support your opinion then I suppose. I was thinking of something like a precedent where a JR has succeeded against a council in a case like this?

Just one will suffice. It's spelt 'Government' by the way, Google usually corrects for basic spelling mistakes so it shouldn't slow down your search, but then given your expertise I doubt it will take you long to find something in any case. I'd imagine you've got something at your very fingertips.

Do let us know how you get on.

 

[fernandopartridge]

Excellent. Here was me thinking that you were just a blustering half-wit, and it turns out that you've got real expertise in this area. I apologise for thinking wrong of you.

You'll be able to provide us with some evidence to support your opinion then I suppose. I was thinking of something like a precedent where a JR has succeeded against a council in a case like this?

Just one will suffice. It's spelt 'Government' by the way, Google usually corrects for basic spelling mistakes so it shouldn't slow down your search, but then given your expertise I doubt it will take you long to find something in any case. I'd imagine you've got something at your very fingertips.

Do let us know how you get on.

Also it's EU law and not specific to local government but all public bodies.

 

[covcity4life]

have got to go lay down............ first thing in ages that I have read from you that I can agree with...... a rare gem :laugh:

must mean stars are aligning for a great cov season at the ricoh!

 

[RogerH]

Previous ACL offers have resulted in an immediate rejection out of hand from SISU. Not so this time. They are obviously considering it seriously ahead of what must surely be the last creditors meeting. Is this really crunch time ? Friday will be the biggest of all big days.

 

[James Smith]

Excellent. Here was me thinking that you were just a blustering half-wit, and it turns out that you've got real expertise in this area. I apologise for thinking wrong of you.

You'll be able to provide us with some evidence to support your opinion then I suppose. I was thinking of something like a precedent where a JR has succeeded against a council in a case like this?

Just one will suffice. It's spelt 'Government' by the way, Google usually corrects for basic spelling mistakes so it shouldn't slow down your search, but then given your expertise I doubt it will take you long to find something in any case. I'd imagine you've got something at your very fingertips.

Do let us know how you get on.

Or how The Liberty stadium in Swansea having a multi million pound loan from part owners the council, which was subsequently written off, is less "illegal" than our council loan which is being paid back.

 

[covcity4life]

Previous ACL offers have resulted in an immediate rejection out of hand from SISU. Not so this time. They are obviously considering it seriously ahead of what must surely be the last creditors meeting. Is this really crunch time ? Friday will be the biggest of all big days.

either way its a better deal than northampton are offering

they can still build staidum if CCC refuse to sell ricoh

sisu should take the deal.

 

[duffer]

Or how The Liberty stadium in Swansea having a multi million pound loan from part owners the council, which was subsequently written off, is less "illegal" than our council loan which is being paid back.

Absolutely. In fairness I'm not saying there isn't a case, there may well be.

My opinion (fwiw) is that it's pretty thin; Councillors usually take legal advice from their officers before taking major and/or controversial decisions, Councils clearly are allowed to invest in projects that benefit their finances or local area, and I haven't been able to find any precedent for this kind of JR succeeding.

I'm aware that I'm not an expert, but then I don't purport to be. I just try to research the stuff I'm interested in or talk from real experience rather than the made-up kind.

 

[WillieStanley]

Effectively, they have 10 years to properly plan and build the new stadium. Judging from previous history, they could also wangle a way to get out of the 10 year lease too!!

 

[duffer]

Effectively, they have 10 years to properly plan and build the new stadium. Judging from previous history, they could also wangle a way to get out of the 10 year lease too!!

They could just pay it up in full for £1.5m at any point (assuming we remain in L1). Not that they would, given past experience. What's £1.5m compared to the cost of a new stadium? Joy's probably got that sort of money lost down the back of the sofa.

 

[Johnnythespider]

Absolutely. In fairness I'm not saying there isn't a case, there may well be.

My opinion (fwiw) is that it's pretty thin; Councillors usually take legal advice from their officers before taking major and/or controversial decisions, Councils clearly are allowed to invest in projects that benefit their finances or local area, and I haven't been able to find any precedent for this kind of JR succeeding.

I'm aware that I'm not an expert, but then I don't purport to be. I just try to research the stuff I'm interested in or talk from real experience rather than the made-up kind.

Also worth remembering that this was voted for 100% by the full council, no dissenting voices at all.

 

[oldskyblue58]

Just a small fly in the ointment on the new build

The lease on offer is a 10year ROLLING lease. So if it starts today it runs to 31/07/23 but if we get to 31/07/14 then the rent agreement runs to 31/07/24. Unless proper notice given

So to break the contract i would guess it requires an agreed notice period (possibly 10 years) or to pay the contract up (ie in L1 10 x £150k)

The club at all times will have 10 years security of tenure to run...... which matches FL rules ........ but it also adds worth to CCFC and ACL in terms of selling up either

 

[shmmeee]

Just a small fly in the ointment on the new build

The lease on offer is a 10year ROLLING lease. So if it starts today it runs to 31/07/23 but if we get to 31/07/14 then the rent agreement runs to 31/07/24. Unless proper notice given

So to break the contract i would guess it requires an agreed notice period (possibly 10 years) or to pay the contract up (ie in L1 10 x £150k)

The club at all times will have 10 years security of tenure to run...... which matches FL rules ........ but it also adds worth to CCFC and ACL in terms of selling up either

Thanks for the clarification.

Still you'd imagine we'd lose more than £1.5m moving to Northampton for three years than staying under this deal?

 

[Nonleagueherewecome]

You are right. People seem to confuse the revenue streams with the profit. I'm sure SISU would like the profit but I reality, the income stream is more valuable with FFP. You could have 10mill revenue stream and make no profit and it would be better Than 1million pound revenue stream which is all profit.

I'm amazed that people think SISU really want to increase the amount that they can spend by having the F&B for FFP purposes. SISU don't want to invest. See four years, previous and Hedge Fund behaviours since the year dot.