Who Votes Sell the stadium to SISU (14 Viewers)

[bigfatronssba]

Here's a thought:

If the council were anywhere close to selling the Ricoh to SISU at a knockdown price, it would surely encourage all sorts of entrepreneurs to look for a way to muscle in. What is to stop a wealthy backer of, say Coventry RFC, making a similar bid? How could the council refuse to entertain any other offer - they couldn’t claim that the deal was to an existing tenant?

Or even the owners of the NEC buying it for some of their smaller exhibitions? Nothing that says a group of exhibition halls has to be on the same site.

 

---

[oldskyblue58]

Here's a thought:

If the council were anywhere close to selling the Ricoh to SISU at a knockdown price, it would surely encourage all sorts of entrepreneurs to look for a way to muscle in. What is to stop a wealthy backer of, say Coventry RFC, making a similar bid? How could the council refuse to entertain any other offer - they couldn’t claim that the deal was to an existing tenant?

It is certainly a thought. No one said it had to be a football stadium although in theory that use should create the most footfall

The logic of that thought would appear to suggest that there is no knock down price or a deal that is close with SISU that anyone knows about wouldnt it ?

 

[Deleted member 5849]

Can I offer the alternate argument though. If SISU were serious about playing in the City rather than entirely focussed on destroying ACL, wouldn't they try to at least sort out out some sort of five-to-ten year deal based on the offer to the administrator? Financially, for the club, it would actually seem to make more sense even without F & B. It doesn't say much about them, does it?

So where's the campaign to:

a) pressure SISU into approaching ACL for a 4 year deal on the same terms as Northampton from next season and;

b) pressure ACL into relaxing their previous stance of no run-off period, and approach the club for a 4 year deal on he same terms as Northampton from next season?

 

[Astute]

There is an easy way to start the valuation from. SISU say they can build a smaller place than the Ricoh for 25m. It won't be as good a quality as the Ricoh either. The location won't be as good either. So how much does this add on to 25m?

 

[Astute]

So where's the campaign to:

a) pressure SISU into approaching ACL for a 4 year deal on the same terms as Northampton from next season and;

b) pressure ACL into relaxing their previous stance of no run-off period, and approach the club for a 4 year deal on he same terms as Northampton from next season?

It was said to be a FL rule that a deal must be done for at least 10 years.............although they change the rules to suit themselves.

 

[RPHunt]

It is certainly a thought. No one said it had to be a football stadium although in theory that use should create the most footfall

The logic of that thought would appear to suggest that there is no knock down price or a deal that is close with SISU that anyone knows about wouldnt it ?

Yes, something else SISU didn't think of before they acted - as tenants they could have been offered a deal that no other party could seriously challenge.

 

[Deleted member 5849]

It was said to be a FL rule that a deal must be done for at least 10 years.

How long is the deal in Northampton for?

 

[Astute]

How long is the deal in Northampton for?

Northampton is a temporary ground share. It seems to come under a different rule. The FL seem to do what they want.

 

[ohitsaidwalker king power]

How long is the deal in Northampton for?

Too long....

 

[Grendel]

Or even the owners of the NEC buying it for some of their smaller exhibitions? Nothing that says a group of exhibition halls has to be on the same site.

Perhaps the sultan of Brunei should buy it to park his fleet of luxury vehicles?

 

[duffer]

So where's the campaign to:

a) pressure SISU into approaching ACL for a 4 year deal on the same terms as Northampton from next season and;

b) pressure ACL into relaxing their previous stance of no run-off period, and approach the club for a 4 year deal on he same terms as Northampton from next season?

There's plenty of pressure on SISU already, I'd say.

It seems ACL already made an offer regarding the rent to the Administrator, maybe they could or should repeat the offer again, but given JS's public stance would there be any point?

It's always worth remembering that SISU refused to pay the rent, broke the lease, and moved out. How far should ACL and the Council go to get them back?

 

[letsallsingtogether]

So from your reply I take it you will never set foot in the Ricoh no matter who the owners were ? you seem to hate the place with a vengeance.

Any way I believe that what ever happens the Ricoh should benefit the Football club and not the owners, as we all keep saying on here we CANNOT survive without the proceeds of what the Arena and the surrounding area generates.

Therefore just to rent the Ricoh back from a Sisu subsidiary will leave us in the same situation that caused all this in the first place,

Perhaps the sultan of Brunei should buy it to park his fleet of luxury vehicles?

 

[Grendel]

So from your reply I take it you will never set foot in the Ricoh no matter who the owners were ? you seem to hate the place with a vengeance.

Any way I believe that what ever happens the Ricoh should benefit the Football club and not the owners, as we all keep saying on here we CANNOT survive without the proceeds of what the Arena and the surrounding area generates.

Therefore just to rent the Ricoh back from a Sisu subsidiary will leave us in the same situation that caused all this in the first place,

The concept of irony is clearly too much for you. I was suggesting a more realistic alternative then bigfatron - you must be American?

 

[Deleted member 5849]

It seems ACL already made an offer regarding the rent to the Administrator

An offer not to the club, that in some way wasn't compliant with the law, and despite given the opportunity to revise... they didn't.

So I ask again, where is the pressure on ACL into relaxing their previous stance of no run-off period (let's not forget they have been just as forceful in the 'take it or leave it' offers as SISU, so how come only SISU get pulled up on that?), and approach the club for a 4 year deal on the same terms as Northampton from next season?


As a fan of the club who wants the club to play in a stadium in Coventry, why on earth wouldn't I want pressure on those who manage a stadium in Coventry to talk to the club?!?

 

[letsallsingtogether]

I am from a foreign background (sorry i'm not English) After all English is not my mother tongue. But the ironic thing is I was replying to your general view not just this particular post.

Te' se' neci blesav chovec do you understand that?

The concept of irony is clearly too much for you. I was suggesting a more realistic alternative then bigfatron - you must be American?

 

[Jack Griffin]

OSB. Could you send your post to the CET please, to at least encourage them to offer a more balanced view than reported in the article. Not saying that they are suporting any particular agenda; just that they haven't considered the bigger picture of how all of this knits together. Is it worth contacted Les REid directly perahps?

Reid constanly massages the facts, for instance he says

Yet previous council taxpayer investment was nothing like the full £118m final cost of building the Ricoh, which opened in 2005.

Costs were partly met from around £40m profit on a £59m sale of part of the land to Tesco; £21m borrowed money later repaid by ACL’s Yorkshire Bank loan; from Europe, the club, and from the former regional development agency, Advantage West Midlands.

This suggests the £21M was repaid in full, but in reality there is still £14-15M of that debt left and also the £10M from AWM was used to fund part of the build as well as the council money, he also omits the ~£13M direct council funding of the project and that the club paid effectively sweet Fanny Adams towards it.. whatever claims he makes towards being balanced or neutral are bloody nonsense.

He also repeats unchallenged Byng's assertion that..

Mr Byng argues the damage to the city’s economy from losing its football club could be £50m to £125m – based on turbulent and tumultuous times at Leeds United and Swansea City. Lost business could also mean less return to council taxpayers in business rates.

frankly that is nonsensical also, whatever money was spent locally was never that much, the total turnover of CCFC was no more than £10M, so I can't believe the loss to Coventry could exceed double that figure, £20M tops & even that is a gross overestimate in my view...

 

[Jack Griffin]

The one thing I don't want is for the Council to subsidise CCFC (again) because of the club's continued mismanagement.

Spot on!

 

[Astute]

An offer not to the club, that in some way wasn't compliant with the law, and despite given the opportunity to revise... they didn't.

What law was that. The law of SISU?

 

[RPHunt]

I am from a foreign background (sorry i'm not English) After all English is not my mother tongue. But the ironic thing is I was replying to your general view not just this particular post.

Te' se' neci blesav chovec do you understand that?

Your grasp of English is obviously a lot better than Grendel's if he thought his post was an example of irony.

 

[skybluetony176]

Your grasp of English is obviously a lot better than Grendel's if he thought his post was an example of irony.

too true, from an online dictionary:-

"irony,a situation in which something which was intended to have a particular result has the opposite or a very different result"

 

[Tonylinc]

TF "We have moved on from the Ricoh" So.....they put in motion a JR????? TF "We are speaking to three? Councils about sites for a new ground"..........they then say that they want to negotiate for the Ricoh????? How can anyone deal with these people????/

 

[stupot07]

What law was that. The law of SISU?

The fact that they wanted to include it as part of the CVA:

"Put simply, we do not understand the comments being made by ACL with regard to the ability to put forward new proposals.

"As I said in my earlier statement, the proposals ACL required simply did not comply with the law. They were offered the chance to submit modifications, which DID comply with the law, yet for reasons best known to themselves, they chose not to do so.


Sent from my iPhone using Tapatalk - so please excuse and spelling or grammar errors

 

[Grendel]

Te' se' neci blesav chovec do you understand that?

I think you are referring to yourself there old boy

 

[letsallsingtogether]

Yes I am at times but you old fella are all the time translation not as bad as you thought i'm afraid "you are a stupid man" By the way it is not polish

I think you are referring to yourself there old boy

 

[Astute]

The fact that they wanted to include it as part of the CVA:

"Put simply, we do not understand the comments being made by ACL with regard to the ability to put forward new proposals.

"As I said in my earlier statement, the proposals ACL required simply did not comply with the law. They were offered the chance to submit modifications, which DID comply with the law, yet for reasons best known to themselves, they chose not to do so.


Sent from my iPhone using Tapatalk - so please excuse and spelling or grammar errors

So what was offered, what could have been offered and what didn't comply with the law?

 

[Astute]

Yes I am at times but you old fella are all the time translation not as bad as you thought i'm afraid "you are a stupid man" By the way it is not polish

I thought that it meant 'you are a silly man' and is in Croatian

 

[letsallsingtogether]

Easy old man no not Croation no such language a bit like saying you speak American. stupid silly same thing he is both....

I thought that it meant 'you are a silly man' and is in Croatian

 

[lewys33]

There is an easy way to start the valuation from. SISU say they can build a smaller place than the Ricoh for 25m. It won't be as good a quality as the Ricoh either. The location won't be as good either. So how much does this add on to 25m?

I agree with this. If they are prepared to pay £25 million for a 10-18,000 seater stadium, why would that mean they are only prepared to pay £7-9 million for a 32,000 seater multi-purpose stadium?

If they want the lot, they can pay the going rate. Im sure many people would snap the hand off the council if they sold it for £7-9 million! We may only be minions in all of this, but it doesn't take a "high-earner" to realise £7-9 million is a ridiculously small amount of money to pay for the Ricoh.

 

[DazzleTommyDazzle]

I agree with this. If they are prepared to pay £25 million for a 10-18,000 seater stadium, why would that mean they are only prepared to pay £7-9 million for a 32,000 seater multi-purpose stadium?

If they want the lot, they can pay the going rate. Im sure many people would snap the hand off the council if they sold it for £7-9 million! We may only be minions in all of this, but it doesn't take a "high-earner" to realise £7-9 million is a ridiculously small amount of money to pay for the Ricoh.

To turn that point around - if anyone really thought that £7m to £9m was a reasonable price for the Ricoh why would SISU ever have been thinking about building a much smaller stadium for £25m and subsidising additional losses of many millions in the five years while they built it?

 

[torchomatic]

Me. I vote City get the stadium.

 

[Jack Griffin]

Yes I am at times but you old fella are all the time translation not as bad as you thought i'm afraid "you are a stupid man" By the way it is not polish

Is it

or

 

[letsallsingtogether]

Is it

or

Sorry no but nice try right colours formation

 

[No future with SISU]

They wont listen to any sensible offers from sisu. Its over. SISU could offer 50 mil and ACL/CCC will reject it. Its not going to happen. We play at sixfields just to remind anyone who doubts my comments.

£50m the council will sell tomorrow

 

[mrtrench]

Bottom line is the club should own the stadium.

Why? The club can increase its income without ownership. Indeed I think there is a good argument for saying that the club should focus on its core competency - entertainment - and not property management. It is common practise for even very large companies to rent their office space.

 

[letsallsingtogether]

Shhhhhhhh that was supposed to be a secret but got to be worth every penny

£50m the council will sell tomorrow