sky blue john
Well-Known Member
Sisu can't be trusted to pay up and everyone knows they wouldn't be bothered in tying it up in the courts for years !!
What is the Ricoh Worth (2 Viewers)
- Thread starter Cityfan1
- Start date
Sisu can't be trusted to pay up and everyone knows they wouldn't be bothered in tying it up in the courts for years !!
RoboCCFC90
Well-Known Member
So it's not the business acumen it's the trust issues you have with SISU?
You have to realise if things are going to change and we want our club back in Coventry compromises and new slates for negotiation are going to have to be made and trust is going to have to work both ways.
slyblue57
Well-Known Member
How many people actually think the Council will sell the Ricoh or even negotiate a new sensible 100year lease to anyone ?
I do nt . I do believe they see it as a cash cow.
Im very anti Sisu, do nt go and wo nt go to Northampton, just away games and want cov back in cov but I ve no time for
the Council.
I do nt . I do believe they see it as a cash cow.
Im very anti Sisu, do nt go and wo nt go to Northampton, just away games and want cov back in cov but I ve no time for
the Council.
RoboCCFC90
Well-Known Member
I disagree, MMM used the King Power as an example which is the best example (Stadia wise) that I can think of which was bought for £17Mil earlier this year. I think £30Mil is probably a good price for the whole complex. If SISU bought out the whole complex they could use the other revenue streams to pay off CCC until they were paid and then benefit from those revenue streams as well as the Arena itself.
chiefdave
Well-Known Member
I don't get why on one hand people say the Rioch can't survive, is losing money etc but then it's apparently a cash cow for the council? how exactly is it making the council a fortune? Is there any actual evidence that the council are making money out of it?
Even if the council aren't keen to sell if the owner of CCFC seriously wanted to buy the stadium they could leak out to the Telegraph that they had put in a bid for say £20m and then pressure would start to mount on the council. Especially if it was a new owner who from day 1 was saying they wanted ownership of the stadium.
I'm sure if SISU had put in a reasonable bid to buy the Rioch we would have heard about it, Fisher would be on CWR like a shot to tell everyone.
skybluetony176
Well-Known Member
lets put it on ebay and find out 
while we are there we could put the fl rule book on at the same time and see what that's worth too
while we are there we could put the fl rule book on at the same time and see what that's worth too
fernandopartridge
Well-Known Member
Jaguar Hall isn't much of a building. The Casino is a hole in the ground - Isle of Capri paid for the fit-out. The hotel and conference facilities are now pretty standard in new stadia.
No future with SISU
New Member
King power is now owned by one of the king power companys, a different one has leicester on its books. Leicester were paying £1.2m in interest on their loan of £17m before.
No future with SISU
New Member
If you look at the A444 and the bridge over the railway into the arena shopping center, you will find that is where the £17m from tesco went.
Paxman II
Well-Known Member
It's incredible that so many have such a low value of the Ricoh Arena - that explains a lot!
If it's worth 20/30m I think SISU would have bought it long ago and added 10m!
The freehold must be worth somewhere around the 100m mark. As stated the land, the clean up and build etc etc are the total cost.
What the council ended up putting in is a better guide to what the council should seek for it? they 'rescued' the project where others lost their money and the project was completed. Now if the council added 20m then that should be remembered in any valuation, in particular in how it relates to the football club.
Without getting too deep I would guesstimate 60m would be a fair valuation for the freehold interest from the council. But there is a 40 years lease on it which would need to be another part of negotiations and compensation.
I believe the council should hold onto the Arena as a city asset. They should segregate the hotel, conference and casino side of things and sell the 'stadium' to the football club on a 125 years lease. Premium to be determined but somewhere around 15% and 25% of the freehold valuation, say 20m? Rent at peppercorn levels on a full and repairing lease. Job done.
If it's worth 20/30m I think SISU would have bought it long ago and added 10m!
The freehold must be worth somewhere around the 100m mark. As stated the land, the clean up and build etc etc are the total cost.
What the council ended up putting in is a better guide to what the council should seek for it? they 'rescued' the project where others lost their money and the project was completed. Now if the council added 20m then that should be remembered in any valuation, in particular in how it relates to the football club.
Without getting too deep I would guesstimate 60m would be a fair valuation for the freehold interest from the council. But there is a 40 years lease on it which would need to be another part of negotiations and compensation.
I believe the council should hold onto the Arena as a city asset. They should segregate the hotel, conference and casino side of things and sell the 'stadium' to the football club on a 125 years lease. Premium to be determined but somewhere around 15% and 25% of the freehold valuation, say 20m? Rent at peppercorn levels on a full and repairing lease. Job done.
trust issues? you make it sound like a jealous girlfriend who was cheated on in her past by a previous boyfriend and now won't let her boyfriend go to the pub with his mates.
where as a much better analogy is asking the wife who has been beaten 16 times by her husband including a final time involving a knife to get over it and start afresh with him.
There can't be trust with sisu anymore, the bare minimum we should have accepted is for them to be doing what is best for ccfc (which I think the directors are required to do by law) and they aren't doing this. Moving to Northampton was never even close to being in the interests of ccfc, only their owners. so if they aren't doing what is best for ccfc why give them the stadium and risk even greater loss for Coventry, at least now the stadium is owned by someone who wants ccfc in it, can't rely on that if it goes to sisu.
RoboCCFC90
Well-Known Member
The reason I asked that is because I was accused of having no business acumen because I support SISU (allegedly). You wonder how many times I have to say it before it sinks in to some people, I do not support SISU!!
I agree with your point entirely Noggin, the bare minimum we should expect from SISU is to do the best for our club, there investment. Are they doing this? Unless by moving to Northampton in future years turns out to be a masterstroke (Which I highly doubt) then no. What we need is for the owners of CCFC and ACLto get round the table and fairly negotiate, with a mediator who can remain unbiased to get the best deal for both sides, if then SISU shoot it down then I for one will be hoping they have a fantastic reason for doing so..
italiahorse
Well-Known Member
italiahorse
Well-Known Member
That's the impression I got of you and SISU but its based on just gut reaction with me as I cant be bothered with going back through peoples history.
Mind you until this nonsense I understood what SISU were trying to do last year. Shame they have took it too far.
I just wish SISU and ACL were more transparent.
RoboCCFC90
Well-Known Member
Agreed..
To be honest if being impartial is a SISU Supporter then yup I am a supporter!
sky blue john
Well-Known Member
Good post Pax, I think your valuations are about right and you have come up with a fair solution for both sides.
stupot07
Well-Known Member
If they sell the stadium separately to the hotels etc as a long lease, then aren't we back where we started with HR? A football stadium with little additional income (I know it's better than our current position of having naff all). . And how can you separate the hotel when the hotel rooms are the corporate boxes?
sky blue john
Well-Known Member
Impartial your talking about Sisu being virtually given the Ricoh and you can't understand why Acl won't get round the table !!!!
Maybe if your beloved Sisu wasn't trying to sue them with the JR review then they might be more inclined to get round the table !!!!
How can there be transparency from a secretive hedge fund ?
How can Acl be transparent whilst the JR is going on ?
RoboCCFC90
Well-Known Member
:claping hands::claping hands::claping hands::claping hands::claping hands::claping hands::claping hands::claping hands::claping hands:Isn't it nice to hear the classics from time to time..
sky blue john
Well-Known Member
Some people tend to use sarcasm when they don't like the truth !!
RoboCCFC90
Well-Known Member
Some people use sarcasm when they are fed up of hearing the same old drivel..
Paxman II
Well-Known Member
No Stu it isn't anything like HR. All activity of the stadium would be the football clubs in such a deal and that would include major concerts, Olympic/student games, U21 internationals, friendly internationals, Rugby games, American Football, giant car and truck demolition derby's and the list is endless. Hell I'd develop a drive in movie theatre in the summer! All associated parking, all concessions - Food and drink and the bars (develop a Sky Blue restaurant) stadium tours (including schools) and easily an agreement for the hotel boxes! Build more corporate boxes. All sponsorships (Ricoh etc) and an above all, a valuable assignable lease. A working relationship to develop other income streams jointly with the other areas of the arena i.e. conferencing, hotel, casino. It's a money pit in the right hands with the right promotional team which clearly will never be ACL.
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@richh87
Member
Good post, but why such a ridiculous username?
Astute
Well-Known Member
The problem is that they want the whole thing Paxman. And they don't want to pay for it. They want the money back that our club has lost them through inadequate management. They do not have long term plans for us. They haven't lost any money on us yet. But if they were to offload our club now they would make a big loss. And the longer they keep us in Northampton the bigger the losses will be.