Breaking news about Rent Deal (29 Viewers)

[Nonleagueherewecome]

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.

You're missing out the bit where Fisher had agreed to their offer only for Joy to over-rule him.

 

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[covcity4life]

and your missing all the points he just made

stop acting like this is good guys vs bad guys

 

[Grendel]

You're missing out the bit where Fisher had agreed to their offer only for Joy to over-rule him.

You've missed his point. If sisu had not refused to pay the rent do you think they would have agreed a 90% reduction?

Also seem to remember a lot of indignation from a certain poster on here that the club wanted the CVA signed as part of the agreement to negotiate terms. According to news sources ACL want sisu to cancel the judicial review as part of the rent agreement. Now if that was the other way round you'd be hollering that the hedge fund had something to hide. So are the council running scared?

Oh and they are threatening lwg action against Northampton. If they called their bluff the taxpayer would be exposed to legal costs.

Doesn't look good for your buddies does it?

 

[deanocity3]

good old joy

 

[lordsummerisle]

You're missing out the bit where Fisher had agreed to their offer only for Joy to over-rule him.

Fisher agreeing to that deal is one of the reasons why he should go anyway.

Was a nonsensical deal from both ACL's and the clubs point of view.

Think it meant that on top of the rent, any crowd over I think 12,000 was an extra £3.00 the club had to pay ACL, and possibly £5.00 for everybody then over 15,000.

Not sure of the exact details, but was posted on the Trust Q@A with ACL and the club at the time, but something like that.

Wouldn't exactly be any incentive to reduce prices to get higher crowds if it would actually cost the club money to do so, thus depriving the Ricoh of extra footfall, parking, food and drink at the same time.

Pretty sure that ACL made more money out of the JPT semi-final than the club managed to.

Anybody who agreed to that offer(from either side) lacked total business sense.

 

[Broken Hearted Sky Blue]

You've missed his point. If sisu had not refused to pay the rent do you think they would have agreed a 90% reduction?

Also seem to remember a lot of indignation from a certain poster on here that the club wanted the CVA signed as part of the agreement to negotiate terms. According to news sources ACL want sisu to cancel the judicial review as part of the rent agreement. Now if that was the other way round you'd be hollering that the hedge fund had something to hide. So are the council running scared?

Oh and they are threatening lwg action against Northampton. If they called their bluff the taxpayer would be exposed to legal costs.

Doesn't look good for your buddies does it?

At least it might stop your buddies taking us to Northampton eh?

 

[Pete in Portugal]

Fisher agreeing to that deal is one of the reasons why he should go anyway.

Was a nonsensical deal from both ACL's and the clubs point of view.

Think it meant that on top of the rent, any crowd over I think 12,000 was an extra £3.00 the club had to pay ACL, and possibly £5.00 for everybody then over 15,000.

Not sure of the exact details, but was posted on the Trust Q@A with ACL and the club at the time, but something like that.

Wouldn't exactly be any incentive to reduce prices to get higher crowds if it would actually cost the club money to do so, thus depriving the Ricoh of extra footfall, parking, food and drink at the same time.

Pretty sure that ACL made more money out of the JPT semi-final than the club managed to.

Anybody who agreed to that offer(from either side) lacked total business sense.

So what does that say about the business acumen of the CCFC Directors who agreed the original rent of £1.3m for 40 years?............

 

[RPHunt]

So what does that say about the business acumen of the CCFC Directors who agreed the original rent of £1.3m for 40 years?............

It says that they knew how much the stadium cost to construct, how much it would cost to run and how much it would cost to finance. It also says that if they didn't like it, then there was noone else going to bail them out of the mess they were in.

 

[Wm65]

@Lesreidpolitics: Liquidation on Friday? No surprise, but not detecting any #CCFC Ricoh "talks" today. 2 sides seem wilfully miles apart

 

[Grendel]

It says that they knew how much the stadium cost to construct, how much it would cost to run and how much it would cost to finance. It also says that if they didn't like it, then there was noone else going to bail them out of the mess they were in.

And that says you are a council plant, a WUM or just a complete retard. It also confirms you have no interest in the football club. Why don't you join ACL talk?

 

[Sky Blues]

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".

How do you know they were in a position to make this offer in January/February?

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

Let's not forget ACL only sought administration after Tim Fisher threatened liquidation.

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 Tim Fisher was threatening liquidation did they have any choice in the matter? Remember Mr Fisher says he does not bluster, does not posture. Who knows, maybe ACL naively thought that Sisu would come around, agree to the deal on the table, which Mr Fisher had thought acceptable when the issue was rent (remember F&B wasn't being talked about as a hot issue until the rent was offered at a level Sisu could accept), and we could all get on with watching football?

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.

I guess we'll soon find out what Sisu think of this offer...

My thoughts in blue.

 

[lordsummerisle]

So what does that say about the business acumen of the CCFC Directors who agreed the original rent of £1.3m for 40 years?............

It says they were bloody useless which is why we ended up having to rent the Arena rather than own it outright anyway.

 

[lordsummerisle]

My thoughts in blue.

"Thoughts" a bit of a strong word there.

 

[Sky Blues]

"Thoughts" a bit of a strong word there.

Haha, maybe "questions" was more appropriate...

 

[Pete in Portugal]

It says that they knew how much the stadium cost to construct, how much it would cost to run and how much it would cost to finance. It also says that if they didn't like it, then there was noone else going to bail them out of the mess they were in.

That they needed someone else to bail them out of the mess they got themselves in, also speaks volumes about their business acumen. The fact is that, with the benefit of hindsight, the business model itself was inextricably flawed from the outset. In addition, by having no reduction in rent in the event of relegation to lower divisions was, at best, very short sighted. This has proved to be a almost lethal combination. Add to that, SISUs subsequent shenanigans and it's not really surprising we are where we are today!

 

[Buster]

It says they were bloody useless which is why we ended up having to rent the Arena rather than own it outright anyway.

Are you seriously maintaining that the 1.3 million rent was "overlooked"by Joy

 

[Jack Griffin]

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

Is he going though a bitter divorce then?

 

[Astute]

Is he going though a bitter divorce then?

If I was him I would divorce myself.

 

[lordsummerisle]

Are you seriously maintaining that the 1.3 million rent was "overlooked"by Joy

No, by the people "trusted" to run the club by her, "football" men and City fans such as Ranson, Elliott and Hoffman.

How on earth these people get off Scot free from the whole situation I will never know?

Thw whole thing is fucked, and has been since the start, but until people start realising that we don't have to have "heroes" and "villains" when they are all on both sides of the same coin, then we will never get anywhere.

ACL/CCC/SISU/Ranson/Elliott/Richardson/Robinson/McGinnity all responsible, culpable, or willingly blind in the whole mess.

People take the easy way out with entrenched positions, how many were calling people who criticised Sisu and their business practices in the early days Leicester fans?

The huge majority.

The same ones who call people Leicester fans, Fisher, or Wums for thinking there is more than SISU that is wrong with the club.

Stop shouting "Shitzu", and think a bit, all I ever asked when everybody was banging on about "SISU saving us".

Detailed analysis is required, not just mindless bleating.

 

[Buster]

No, by the people "trusted" to run the club by her, "football" men and City fans such as Ranson, Elliott and Hoffman.

How on earth these people get off Scot free from the whole situation I will never know?

Thw whole thing is fucked, and has been since the start, but until people start realising that we don't have to have "heroes" and "villains" when they are all on both sides of the same coin, then we will never get anywhere.

ACL/CCC/SISU/Ranson/Elliott/Richardson/Robinson/McGinnity all responsible, culpable, or willingly blind in the whole mess.

People take the easy way out with entrenched positions, how many were calling people who criticised Sisu and their business practices in the early days Leicester fans?

The huge majority.

The same ones who call people Leicester fans, Fisher, or Wums for thinking there is more than SISU that is wrong with the club.

Stop shouting "Shitzu", and think a bit, all I ever asked when everybody was banging on about "SISU saving us".

Detailed analysis is required, not just mindless bleating.

That's what gets me about these forums ! The prolific posters always claim they have researched Land development , rental agreements , legal proceedings and such like and then come out with an absolutely ridicules statement insinuating joy seppala did not know that the incoming rent for buying ccfc was over 1 million pounds and then going on to blame directors , some of which have admitted they were on the wrong horse with SISU. . Priceless!

 

[lordsummerisle]

That's what gets me about these forums ! The prolific posters always claim they have researched Land development , rental agreements , legal proceedings and such like and then come out with an absolutely ridicules statement insinuating joy seppala did not know that the incoming rent for buying ccfc was over 1 million pounds and then going on to blame directors , some of which have admitted they were on the wrong horse with SISU. . Priceless!

Fucking hell, Elliott has been on more wrong horses than Catherine the Great!

Ranson? Moneygrabbing c**t who fucked up, and that after touting Sisu round loads of clubs for years til he found somebody stupid enough to take him and Sisu on.

Hoffman? International man of finance, who admitted to me that he knew nothing about Sisu at all when he jpoined the board.

Robinson, Richardson, and McGinnity,(along with everybodys favourite stooge Elliott) the most culpable of all for us not owning our own ground and having to be "rescued" by a fuckinhg rapacious hedge-fund in the first place.

 

[olderskyblue]

And still some people think its all about the rent... :facepalm:

 

[Buster]

Fucking hell, Elliott has been on more wrong horses than Catherine the Great!

Ranson? Moneygrabbing c**t who fucked up, and that after touting Sisu round loads of clubs for years til he found somebody stupid enough to take him and Sisu on.

Hoffman? International man of finance, who admitted to me that he knew nothing about Sisu at all when he jpoined the board.

Robinson, Richardson, and McGinnity,(along with everybodys favourite stooge Elliott) the most culpable of all for us not owning our own ground and having to be "rescued" by a fuckinhg rapacious hedge-fund in the first place.

Yes I think most of us know your views on Ranson Hoffman Eliot etal but do you honestly believe Seppala did not know of the 1.3 million pounds rent . It is an essential part of the debate

 

[lordsummerisle]

Yes I think most of us know your views on Ranson Hoffman Eliot etal but do you honestly believe Seppala did not know of the 1.3 million pounds rent . It is an essential part of the debate

If she didn't she's an idiot.

Which in the case of running the club and the people she has brought in to run the club she has proven herself to be many times.

Can't think of one decent appointment as Chairman since SISU took over( Nor many before that either, Poynton probably the last half-decent one, decades ago).

The problem with cumulative damage, like interest, it's hard to get rid of, and sometimes you just have to stop and restart one way or another.

 

[Spionkop]

The thing is, we can start with our own team in Coventry. Sisu do not have the monopoly on a Coventry football club. We can take back OUR club.

 

[Buster]

If she didn't she's an idiot.

Which in the case of running the club and the people she has brought in to run the club she has proven herself to be many times.

Can't think of one decent appointment as Chairman since SISU took over( Nor many before that either, Poynton probably the last half-decent one, decades ago).

The problem with cumulative damage, like interest, it's hard to get rid of, and sometimes you just have to stop and restart one way or another.

Are you saying that we should do our utmost to rid ourselves of sisu and start again ? I for one am worried about an idiot running the club . How do you feel?

 

[lordsummerisle]

Yes I think most of us know your views on Ranson Hoffman Eliot etal but do you honestly believe Seppala did not know of the 1.3 million pounds rent . It is an essential part of the debate

Are you saying that we should do our utmost to rid ourselves of sisu and start again ? I for one am worried about an idiot running the club . How do you feel?

I've always been against idiots running the club, but unfortunately there have always been more idiots that want them in in the first place.

Only idiots would have been taken in by them(all of them)at all surely?

 

[Buster]

I've always been against idiots running the club, but unfortunately there have always been more idiots that want them in in the first place.

Only idiots would have been taken in by them(all of them)at all surely?

I'm afraid all we can do is see how " football " affects our life and from that what we want to do with it . Personally I mix a bit of real life into the fantasy of the Saturday afternoon and I can't leave behind the morals of day to day living . So it's not "city till I die ". When it goes across certain lines I have to say , it's not for me. So as I have said earlier if SISU want me they can sign for ten years and I'll be behind them all the way. I used to watch ccfc in the 60 s over a white wall up the west end and I was fortunate enough to be there in 87 but if they don't agree on Friday to play at the Ricoh I'll drop them like a stone ! Bearing in mind my son and I will go away . I am the customer and I am always right .

 

[lordsummerisle]

I'm afraid all we can do is see how " football " affects our life and from that what we want to do with it . Personally I mix a bit of real life into the fantasy of the Saturday afternoon and I can't leave behind the morals of day to day living . So it's not "city till I die ". When it goes across certain lines I have to say , it's not for me. So as I have said earlier if SISU want me they can sign for ten years and I'll be behind them all the way. I used to watch ccfc in the 60 s over a white wall up the west end and I was fortunate enough to be there in 87 but if they don't agree on Friday to play at the Ricoh I'll drop them like a stone ! Bearing in mind my son and I will go away . I am the customer and I am always right .

Fair enough, which is why I couldn't countenance King playing for us, nor ever wanted any hedge fund to own the club.

Not overly keen on property speculators, nor dodgy billionaires taking over either, but the majority of football fans morals are very flexible if somebody can score a few goals, or buy us a bit of success(or not).

 

[Paxman II]

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. Just one small point though. A 'rolling' lease can only begin after the initial 'fixed' term expires surely?
A 10 year fixed term ending would then become a rolling lease? Also in a lease there is usually a clause mentioning terms to quit? This could be very different than the example you quote of 150 x 10? Perhaps I'm wrong...