Boils down to two possibilities ? (12 Viewers)

[dongonzalos]

A couple of things I have noticed on this thread:



Dong Joy has only been involved in CCFC in the last two years from her position within SISU. A quote from yesterday's article in the CT 'Ms Seppala said she was not personally involved with Sisu Capital’s purchase of the football club in 2007. She said: “People did the due diligence and for all intents and purposes we took calculated risks.“What I can say definitively is that since I’ve become involved in the last two years I have not regretted any of the decisions that we’ve made.'



I am sure Steve your are assuming that the above comment I have quoted won't happen because SISU won't sell the club and so on, however there is no guarantee that even if SISU did sell the club that CCC would sell the ground to the new owner of the club. This is what we are led to believe will happen. PHIV was supposed to be buying the Ricoh 6 weeks ago from the Council and hasn't..

Ok if that is correct that she has only taken a hands on approach to a 60 million pound investment in the last 2 years.

What has prompted to speak to actual fans for the first time in two years?

 

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[chiefdave]

it's hard to say what would be the best option for the stadium / ACL without digging deep into ACLs accounts and projections but I don't think it's wise for SISU or anyone else to assume that without CCFC there is a major problem ahead for the Ricoh. ACL have offered SISU rent of 400K and possibly lower and that number includes the costs to ACL of providing some services so it doesn't seem a huge amount to make up but given how far in advance many things are booked I think we're a couple of years from really being able to judge the impact of CCFC leaving. It's ceratinly not as simple as subtracting the rent from published ACL accounts!

It may well be possible to make up the rent, or more, with other events, do not even need to be stadium events if the rest of the business is generating enough money. Remember ACL would not have been able to guarantee exclusive use (ie: no football) on any Saturday throughout the season as the fixtures are announced relatively late which must have impacted on bookings. It could easily be the case, dependent on the costs of maintaining the stadium bowl, that it is viable to retain it for occasional events. How many events annually does the likes of Milton Keynes Bowl have for example?

 

[torchomatic]

She's done it, so what's the problem? Fans have been clamouring to hear from her and now they have.

What has prompted to speak to actual fans for the first time in two years?

 

[dongonzalos]

If they try and parachute in another sports team then they really are no better that SISU, are they? I think ACL have to be really careful how they handle things. Personally, I don't think the future looks good for them unless they can get CCFC back.

Unfortunately if they want to survive they have to look at other options.

What do they need to pay the council yearly?

How much do they need to raise?

Does that have to be another sporting tenant?

 

[Hobo]

No, because they demolished Maine Road. Yes, loads of football grounds have been redeveloped. Look at HR , A nice new build estate. I really can't see a viable future for the Ricoh without us. Who is going to pay for any redevelopment if the future is going to be without CCFC?

As I said before Seppala can attract investors to redevelop a piece of land. So can ACL, you are blinkered by the Ricoh staying as a sports stadium.

Let me give you a real life example of real estate development which may seem mad to the average man in the street but does turn a profit.

A developer builds show homes, then builds an estate and sells the houses, they then knock the show homes down and sell the land they were on to another developer.

Loads of buildings and structures are sold everyday and totally redeveloped.

The only problem is the emotional tie to a football club. SISU have used that as a blackmail tool, are still using it and the new stadium is a scare tactic...possible but not their first option. They still see mileage in sticking around obviously.

 

[dongonzalos]

We talk about viable alternatives, but which sports teams within 20 or so miles require a 32,000 Seater Stadium except CCFC?

As per my reply to torch

 

[Astute]

Hobo, I know as much about SISU’s plan as you do. Nothing. However, I do know that I (that is me personally, I’m not talking for anyone else) wants to see my team play back at the Ricoh. Nothing else matters. For that to happen it seems (from JS) that she will only go back if we can buy into the Arena. I really can’t see the problem with that. Oh, I know we gets lots of people saying that if that happened then they would wind-up the Club, rub their grubby mits with glee and enjoy the riches the Ricoh has to offer. There’s no proof – as there’s no proof from me that it wouldn’t happen! However, as it stands we are playing in Northampton in front of crap crowds for probably five years. I can’t stand the thought of not seeing Coventry City for five years (the last two months have been bad enough), so one alternative is sell the Ricoh to SISU. CCC can put in all the caveats they wish to safeguard their “community asset”. That way everyone wins. If in the future someone wants to buy SISU out then these future owners will know exactly what they are getting.
I’m not a SISU fan, I like them as much as I like ACL but they are who we have in charge and the quickest way I can see us getting rid of them is to get us playing back in Coventry. Standing on a hill isn’t going to achieve that anymore than getting down on your knees and praying.
I care about CCFC, not SISU or ACL.

I wish I could have as much faith in SISU as you do.

So who do CCFC owe a lot of money to?

Who are well known to take over companies and then liquidate them?

Who is after the Ricoh for well under it's true value?

My biggest worry would be if they got their hands on the Ricoh and then liquidate our club. The ground would then become theirs as the money is owed to them. So we would be left without a club and anywhere for a new club to play. They won't liquidate our club without a stadium as they would get more money selling it on than liquidating as we don't have anything of worth other than our name and history.

 

[torchomatic]

No, I don't it does have to be a sports tenant, but in a sports arena....? How much would it cost do you think to stick a roof on the place?

Unfortunately if they want to survive they have to look at other options.

What do they need to pay the council yearly?

How much do they need to raise?

Does that have to be another sporting tenant?

 

[dongonzalos]

Within the City only Cov Rugby, Cov Speedway or Coventry Sphinx could really think about moving there and they don't need the Ricoh..

Someone mentioned previously a West-Midlands Super League team, but not heard more about that and as you say Torch if someone moved another sporting organisation out of Birmingham for instance to the Ricoh it's just the same as what as happened at CCFC.

The only possibility really is if Nuneaton get promoted and then Dong gets his wish of Nuneaton Sky Blues..

Not a wish
Just a possibility of what may happen.

If it began to take shape I would soon get my wish if the sky blues back at the Ricoh instead

 

[RoboCCFC90]

Ok if that is correct that she has only taken a hands on approach to a 60 million pound investment in the last 2 years.

What has prompted to speak to actual fans for the first time in two years?

I would assume because Joy see's that no one is interested in listening to Tim Fisher any longer and are calling for Joy's input on the situation.

 

[RoboCCFC90]

As per my reply to torch

I get that but even as a viable option as your post maybe you would have thought the ideal man to take this on would have been PHIV with all his rumoured background on real estate, although there were rumours of this taking off six maybe seven weeks ago nothing since..

 

[dongonzalos]

She's done it, so what's the problem? Fans have been clamouring to hear from her and now they have.

Not a problem

Just that I think the reason she has is two fold

To tell the council she has finding for the loses over 5 years.

To tell the fans she has funding for the loses over 5 years.

In order to put pressure on the council to sell.

In order to stop the NOPM campaign as if it continues it potentially will cost SISU 2 million a year.

Also whilst continues it makes the whole new stadium threat farcical. Again this damages the main aim of getting the council to sell.

 

[RoboCCFC90]

Not a wish
Just a possibility of what may happen.

If it began to take shape I would soon get my wish if the sky blues back at the Ricoh instead

It could happen, but wouldn't that be the same as CCFC's predicament?

 

[dongonzalos]

I would assume because Joy see's that no one is interested in listening to Tim Fisher any longer and are calling for Joy's input on the situation.

Sorry Robbo people have been calling for her input pre Tim Fisher and post him.
It has never bothered her before.

Every decision she makes is a financial one what does she hope to gain financially by doing this?

You are right though if fans believed Tim attendances would be up and would not need to bother.

She needs attendances up

 

[dongonzalos]

It could happen, but wouldn't that be the same as CCFC's predicament?

I don't think it would happen but
It would be the same as CCFC getting their stadium in Brandon tomorrow
With much better prospects

 

[Astute]

She's done it, so what's the problem? Fans have been clamouring to hear from her and now they have.

So she spoke to an MEP that can't do anything. She spoke to a reporter that never asked her any questions. She only said things we already know, although she did admit to what most of us knew were lies released by SISU in the past. For instance it is her price or nothing. Maybe she thought that we would all back her with this. Maybe she thought she would get our support back by admitting this. Why didn't she say how much she wants the freehold for?

They have no chance of getting my support in any way until I see that they are at least trying to take us home. But she is willing to talk to anyone to spin what she wants as long as they have no say in what happens with the Ricoh.

 

[chiefdave]

No, I don't it does have to be a sports tenant, but in a sports arena....? How much would it cost do you think to stick a roof on the place?

why does the extra income have to come through the stadium side of the complex? Let's use the 400K rent figure as a benchmark, potentially every weekend in the football season has been opened up - there would be a lot of people who wouldn't have wanted to book an event for fear of clashing with a football match. What if there was say an extra 20 in the other parts of the complex. Suspect there is a good chance that the £400K lost by CCFC leaving could be covered.

 

[torchomatic]

I’m not saying I have faith in SISU I’m saying that if we want Coventry back in the Ricoh – which seems the preferred option for most – then a deal needs to be done.
Any why on earth would they liquidate CCFC? What would they have to gain with a stadium and no football team in there? It doesn’t make sense. I can’t even call it a scare tactic on your part as the only one you’re scaring is yourself.
Do we want to be in Northampton? No.
Do we want to go to another stadium outside Coventry? No.
Do we want to go back to the Ricoh? Yep.

I wish I could have as much faith in SISU as you do.

So who do CCFC owe a lot of money to?

Who are well known to take over companies and then liquidate them?

Who is after the Ricoh for well under it's true value?

My biggest worry would be if they got their hands on the Ricoh and then liquidate our club. The ground would then become theirs as the money is owed to them. So we would be left without a club and anywhere for a new club to play. They won't liquidate our club without a stadium as they would get more money selling it on than liquidating as we don't have anything of worth other than our name and history.

 

[georgehudson]

if i were an investor in sisu, i would be getting extremely concerned as to how my funds were being managed,
& also who is at the helm of the club, & how they are performing,
perhaps one or two investors have asked some questions

 

[davebart]

So you're saying you'll gladly kill your club?
Weird weird statement

Don't confuse the club with SISU. Two entirely different things.

 

[RoboCCFC90]

Sorry Robbo people have been calling for her input pre Tim Fisher and post him.
It has never bothered her before.

Every decision she makes is a financial one what does she hope to gain financially by doing this?

You are right though if fans believed Tim attendances would be up and would not need to bother.

She needs attendances up

Pre Fisher, I don't remember calling for Joy Seppala beyond two years ago? When Fisher started..

Of course it is? Remember technically Joy is running the SISU business which CCFC is asset of, of course every decision is based financialy.

Every club needs higher attendances..

 

[torchomatic]

Don't confuse the club with SISU. Two entirely different things.

Unfortunately they aren't though, are they. More like conjoined twins.

Sent from my Galaxy S4 using Tapatalk 2

 

[RegTheDonk]

So she makes 10 million from selling the players off , another 10 from any other asset ,
Loss making businesses don't make profits , it's a mass sell off because a business would rather loose 40 mil than 60 mil

He she thought she would get 60 mil back she wouldn't be selling so get that sum out your thick skull

Not one penny more will lead to the selling of every asset of the club and we'll be left with nothing

You can then say we did such a great job of killing our own club that we can blame ccc sisu acl fl and the fans

That's just my knob thoughts dickhead

Dear Nob

From the article:

“The club is not for sale. In the past year alone, we’ve put millions into the club, and committed £60million over time. We have not taken a penny out of the club.“I am not looking to pack my bags and go away. I want return on my investment.”

She says she's committed £60 million over time and she wants a return on her investment. So by your logic, she will be able to sell of £20 mill and then walk away?

Love,

Dickhead

 

[thaiskyblue]

Pre Fisher, I don't remember calling for Joy Seppala beyond two years ago? When Fisher started..

Of course it is? Remember technically Joy is running the SISU business which CCFC is asset of, of course every decision is based financialy.

Every club needs higher attendances..

it's not just attendances it's the bad publicity they are attracting .

 

[RoboCCFC90]

it's not just attendances it's the bad publicity they are attracting .

No doubt about that ThaiSB, however there were negative things about the club and our situation before they arrived..

 

[thaiskyblue]

true but it's snowballing now.

 

[Mrpipes]

Oh please
You just need to look at black Berry phones latest 1 billion dollar loss to see how business works , if we continue to lose money they will fold us and sell everyone from under our noses
She wants 60 million but we are worth fuck and all right now , add still losing money , you are one very silly dickhead buddy if you think we would ever sell for 60 million
And all of a sudden you are hanging on js's word?
Get some consistency. either you think sisu are full of crap or you don't , suddenly sisu are right? Now I'm confused , good chatting to you p

Dear Nob

From the article:

“The club is not for sale. In the past year alone, we’ve put millions into the club, and committed £60million over time. We have not taken a penny out of the club.“I am not looking to pack my bags and go away. I want return on my investment.”

She says she's committed £60 million over time and she wants a return on her investment. So by your logic, she will be able to sell of £20 mill and then walk away?

Love,

Dickhead

 

[RoboCCFC90]

true but it's snowballing now.

Could of happened under anyone though, I agree with Joy on one thing the previous business model was never going to help CCFC, but they should have dealt with things in a better manner.

 

[thaiskyblue]

they are not interested in football, let alone coventry city that's where the shit started.

 

[RoboCCFC90]

they are not interested in football, let alone coventry city that's where the shit started.

Who knows what they're interested in..

 

[thaiskyblue]

Who knows what they're interested in..

dosh........

 

[Seyeclops666]

So, you'd rather stay in Northampton for 5 years, maybe for good, rather than see SISU own the Ricoh?

Off Nose Spite To Face Cut (rearrange letters accordingly)

I would rather we folded and started again than sell to Shitsu. Have principles some (rearrange WORDS accordingly)!!

 

[Seyeclops666]

NOPM is going to kill your club
Well done to all involved and enjoy supporting another team , you Work will be done
You are indeed cutting your noses off , and thanks to you taking your ball home , everyone else loses their team

You all seem to be reveling in it too strangely ??

Piss off moron.

 

[Astute]

Who knows what they're interested in..

We all know what they are interested in. Making money. Full stop. They don't care about our football club. They don't care about us fans. They will do whatever makes them the most money. It seems that they had dreams of the tens of millions they would have made if they got us into the Prem. It wasn't as easy as they thought though. Once Ranson left we were left without anyone that knew about football running our club. They have been chasing their losses ever since.....and not been doing a good job of it.

 

[Seyeclops666]

A response like this does frustrate me. I know there's huge debate around the value of the Ricoh and clearly its potential is much much greater than ACL have come close to in terms of their operation, but the pleas that SISU should be allowed to own the Ricoh seem to stem from passion for this madness to end rather than sound public stewardship which the council clearly have to try and be shown to achieve.

Just because SISU own the football club does not mean the public of Coventry (via 50% of ACL) should be held hostage to do their bidding and sell them what they want. Would any other council anywhere in Britain even consider selling an asset like the Ricoh to a company of SISU Capital's track record within the City?

Let's tick off some questions which any elected official acting in the public interest may want to consider if he was looking at selling anything from a park bench to a multi-acre site with sports stadium:

1) Does the business have a successful record of owning and running other similar companies or operations?
2) Does the business have a strong track record of acting in the best interests of local people with a sense of corporate responsibility?
3) Does the business have a transparent structure with clear accountability regarding investment and ownership?
4) Has the business consistently filed accounts on time?
5) Does the business currently face any pending actions from either HMRC or Companies House?

There's five, I'm sure there would be tens more. If you asked 100 Council tax payers whether the Council should sell even a park bench to a company which couldn't answer all of those questions with a positive answer then 100 would say no.

The Ricoh is an underachieving asset for the people of Coventry, not one which should be frittered away to a mob like Sisu who have shown disdain, malpractice and downright incompetence. Let them rot.

Absolutely right.