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[No future with SISU]

Well, ACL don't seem to mind a bit of subsidising, do they? Good job CCC didn't let ACL clean up their own mess, isn't it?

As the council own ACL it is not subsidising them , it is restructering the company and the judge said there was not thing wrong with it.

 

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[mark82]

Sorry, have I got this right. Are you suggesting the council should hand over the Ricoh for next to nothing to SISU to allow them to shortly afterwards sell it for tens of millions to recoup their investment? Would the council not have some questions to answer legally if they gave away an asset at well below market value and it was then sold on soon afterwards by a hedge fund at a huge profit?

While ownership of the Ricoh may give SISU an exit strategy how much damage will they do to CCFC in the process of executing this strategy?
There seems to me to be 3 options:

1) SISU claim that uniting the ground and the club will turn things around for CCFC. I haven't seen any evidence to support this and given Joy's interview with the CT where she stated she wasn't interested in football and wants her money back are they really going to hang around to see a long term return on their investment? Given that SISU, and some people on here, keep telling us that ACL is not viable without CCFC paying rent and assuming if we own the ground we wouldn't pay rent how does it suddenly become hugely profitable to the point there's a £60m surplus for SISU to recoup their money?

2) SISU sell the club and ground as a package. This doesn't add up for me, can't see anyone paying anywhere near £60m for the club and the Ricoh. As mentioned above are we really now suggesting handing the Ricoh over to SISU for them to sell it on at a huge profit?

3) SISU load debt against the Ricoh and then walk away. This seems to me the most likley outcome and why they appear desperate for the freehold rather than the lease. Imagine the mess we will be in if SISU manage to get hold of the Ricoh for next to nothing then load tens of millions in debt against it which CCFC is responsible for paying. They would walk off with that money leaving us in a horrendous position.

None of those options are particularly appealing to me.

Not read the whole post yet so forgive me if I have missed something. Just wondered where I had given you the impression they should have it for next to nothing? That is a false assumption.

Secondly, you want Sisu to leave (as I do) but I don't understand your vision for how they are going to do so without a stadium? I assume you must be in favour of the new stadium or liquidation of the club instead as they are the only other options on the table?

 

[mark82]

Fisher said they were finished with the ricoh and now it is been valued by them. what do you call the first bit of the sentence?

He is just an employee of Sisu in the same way Steven Pressley is. Is he a liar too?

 

[mark82]

As the council own ACL it is not subsidising them , it is restructering the company and the judge said there was not thing wrong with it.

Should really wait until after the appeal to state that as fact. I suspect the appeal will fail but you never know.

 

[Sky Blue Kid]

RoboCCFC...Not the only question asked though was it SBK?..................................................................It was one of many that were "Detoured around though wasn't it Robo? Not only that...It was the "MOST IMPORTANT" question asked wasn't it Robo?

 

[skybluetony176]

Sorry, have I got this right. Are you suggesting the council should hand over the Ricoh for next to nothing to SISU to allow them to shortly afterwards sell it for tens of millions to recoup their investment? Would the council not have some questions to answer legally if they gave away an asset at well below market value and it was then sold on soon afterwards by a hedge fund at a huge profit?

very very good point. look at all the shit flinging over royal mail's privatisation and the people doing the flinging on that well know it's possibly a year before the true valuation of royal mail is known as the share price is yet to settle down. you wont be able to say the same about the ricoh, this again shows incompetence on shitsu's part as the selling price of the ricoh will always be in the public domain and ccc will also have to justify the sale price to the voters and possibly even higher government. this is not the usual bunch of failing director of a privately owned failing company that she's used to bullying with litigation to get what she wants.

 

[skybluetony176]

Not the taxpayer so who cares

if ccc sell the ricoh at a loss it will be the tax payers who are bailing out scrotium and shitsu.

even though i don't pay my taxes to ccc i still don't want that to happen on basic principle. setting an example for hedge funds on how to rip of local authorities and the tax payers who fund them is unethical in the extreme.

 

[torchomatic]

The taxpayer has already bailed out the Arena once. To the tune of £14M. And at the same time as shutting down loads of care homes. Is that what you want CCC to do?

You got a "like" for using the word scrotium.

if ccc sell the ricoh at a loss it will be the tax payers who are bailing out scrotium and SISU.

even though i don't pay my taxes to ccc i still don't want that to happen on basic principle. setting an example for hedge funds on how to rip of local authorities and the tax payers who fund them is unethical in the extreme.

 

[letsallsingtogether]

So then are they then not allowed to get back there investment. As for care homes that is a National problem not just Coventry so that argument just doesn't stack up.

The taxpayer has already bailed out the Arena once. To the tune of £14M. And at the same time as shutting down loads of care homes. Is that what you want CCC to do?

You got a "like" for using the word scrotium.

 

[Grendel]

Add any council who gave away the RICOH would be voted out at the next election.

No they wouldn't - 90% of Coventry have no interest in the Ricoh whatsoever.

 

[Grendel]

The taxpayer has already bailed out the Arena once. To the tune of £14M. And at the same time as shutting down loads of care homes. Is that what you want CCC to do?

You got a "like" for using the word scrotium.

Id unlike him - he let himself down and said sisu and not SHITSU.

 

[ohitsaidwalker king power]

No they wouldn't - 90% of Coventry have no interest in the Ricoh whatsoever.

source of data please.....?

 

[Grendel]

source of data please.....?

Strange that - you are not requesting source of data that the council who did this would lose the election - why?

 

[Sky Blue Kid]

ohitsaidwalker king power........You're asking the King of "Estimated Facts"....I hear the sound of silence, and see tumbleweed rolling by. mate.

 

[Grendel]

ohitsaidwalker king power........You're asking the King of "Estimated Facts"....I hear the sound of silence, and see tumbleweed rolling by. mate.

Councils lose elections due to national issues mostly - local issues are pot holes, council closures etc. getting rid of a big white elephant that only 10% of the population ever attend will not even be on people's radar. No one other than football fans give a stuff about it. Why would they? They'd be more objection in they sold the motor museum and admission prices were introduced or they closed the central library.

 

[torchomatic]

source of data please.....?

Ok can I ask for your source on your contrary view?

Sent from my Galaxy S4 using Tapatalk 2

 

[Sky Blue Kid]

@ Grenduffy....Once again, all you've given is an "Opinion" no facts to back it up with....I was wondering how long it would take before your "Chum" came to your aid...........Just a couple of minutes, it seems.

 

[Mick Scoop]

Think 367 signatures supporting this says it all, democracy eh?

 

[Grendel]

Think 367 signatures supporting this says it all, democracy eh?

So does 50 people on a hill.

 

[Mick Scoop]

So does 50 people on a hill.

Hit a nerve have I?

 

[ohitsaidwalker king power]

No they wouldn't - 90% of Coventry have no interest in the Ricoh whatsoever.

source of data please.....?

You quoted 90%- I asked you the source of this data..... not looking for a row- just a source of data... reasonable I would have thought?- but if you don't have the source thats OK.....just wanted to qualify that was indeed your opinion.

 

[ohitsaidwalker king power]

Ok can I ask for your source on your contrary view?

Sent from my Galaxy S4 using Tapatalk 2

Can I ask what Contrary view?

 

[covmark]

Covmark you just need to act your age a little. Just because the vast majority don't share your view you tend to get abusive. Some would think your a late forty something baseball cap wearing prick.

apologies for my abusive rants last night, being labelled a sisu apologist gets my goat that's all.
Oh and I don't where a cap and I'm nowhere near forty yet

 

[Grendel]

Can I ask what Contrary view?

You didn't question the view a council would lose an election if they gave the Ricoh to sisu - yet there is no evidence at all to suggest that. So why did you not request his source?

 

[Jack Griffin]

In my opinion if SISU get the freehold or even the remainder of the long lease they'll put the rent up to a 'commercial level' and either sit on it or wait to sell it to someone at a 'commercial price' which has suddenly sky rocketed to a level that leaves them with a tidy profit. I'm certain that selling it to SISU will ruin the club for a long time to come, however I'm also sure that removing SISU and getting a clean sheet with all debts written off will be a new beginning & that is the best way forward.

 

[mark82]

Think 367 signatures supporting this says it all, democracy eh?

To be fair that is in just over 24 hours.

 

[mark82]

apologies for my abusive rants last night, being labelled a sisu apologist gets my goat that's all.
Oh and I don't where a cap and I'm nowhere near forty yet

It gets my goat that you only need sources and proof if you are not spouting popular opinion.

 

[mark82]

In my opinion if SISU get the freehold or even the remainder of the long lease they'll put the rent up to a 'commercial level' and either sit on it or wait to sell it to someone at a 'commercial price' which has suddenly sky rocketed to a level that leaves them with a tidy profit. I'm certain that selling it to SISU will ruin the club for a long time to come, however I'm also sure that removing SISU and getting a clean sheet with all debts written off will be a new beginning & that is the best way forward.

So are you now saying Sisu getting the stadium would be a good thing?

 

[Astute]

So are you now saying Sisu getting the stadium would be a good thing?

Yes it would be a good thing.........for SISU. It would be a good thing for our fans to be able to watch their team in Coventry.

Sorry but not got all day to list all the bad things about them getting the Ricoh.

 

[ohitsaidwalker king power]

No they wouldn't - 90% of Coventry have no interest in the Ricoh whatsoever.

You didn't question the view a council would lose an election if they gave the Ricoh to sisu - yet there is no evidence at all to suggest that. So why did you not request his source?

G he/she didn't quote a figure did he/she- trying to reinforce his/her opinion with erroneous data- he/she is not guilty of that?
You did- yours is your opinion- which is absolutley fine-its a forum- full of opinion, but please dont wrap up your opinion in estimated facts.. thats my sole point and one which previously you have criticised others for. As I stated wasnt looking for a row- as normal you clearly are though?

 

[Sky Blue Kid]

ohitsaidwalker king power..."You did- yours is your opinion- which is absolutley fine-its a forum- full of opinion, but please dont wrap up your opinion in estimated facts.."................................................................Hallelujah!!!....Somebody else sees your "Estimated Facts" as well lmfao.

 

[Gary.j]

I'm certain that selling it to SISU will ruin the club for a long time to come, however I'm also sure that removing SISU and getting a clean sheet with all debts written off will be a new beginning & that is the best way forward.

That's how I see it! Sooner the better! I'm sure NOPM will significantly contribute to their departure.

If we don't fear liquidation, we can't be held hostage!

 

[chiefdave]

Not read the whole post yet so forgive me if I have missed something. Just wondered where I had given you the impression they should have it for next to nothing? That is a false assumption.

Secondly, you want Sisu to leave (as I do) but I don't understand your vision for how they are going to do so without a stadium? I assume you must be in favour of the new stadium or liquidation of the club instead as they are the only other options on the table?

If it's going to work as an exit strategy it has to be sold below market value doesn't it? If SISU were to buy it at market value and then sell it on they will just get their money back how does that work as an exit strategy? Sure there may be a small increase in value by having the club and ground to sell together but it's debatable and even if there is a small increase it is not likely to be anywhere near enough for SISU to recoup so on that basis how does SISU having ownership of the Ricoh give them an exit strategy unless they are going to load debt against the freehold?

Secondly, you want Sisu to leave (as I do) but I don't understand your vision for how they are going to do so without a stadium? I assume you must be in favour of the new stadium or liquidation of the club instead as they are the only other options on the table?

If SISU get the stadium they may leave, they may not, however looking at the options for them recouping their investment it looks likely to me that selling them the stadium as part of an exit strategy has a big risk of leaving the club in a horrendous position financially. Why are administration or liquidation the only options? Unless people think SISU will stay indefinitely putting money into the club then at some point they are either going to have to sell up or, yes we may go into admin again. In an ideal world they sell up and write off the debt as an investment gone wrong as I don't think anyone would fancy another round of administration.

Certainly not in favour of another liquidation, not sure how you've drawn that conclusion. If SISU could give a business case for the new stadium then I would consider it, I have no real affinity to the Ricoh other than it being an available ground in Coventry so if it's shown there is a better option without the Ricoh then I would support it.

 

[Jack Griffin]

So are you now saying Sisu getting the stadium would be a good thing?

How does the sentence " I'm certain that selling it to SISU will ruin the club for a long time to come" count as a good thing? I guess English comprehension is not one of your strong points!

 

[Jack Griffin]

So does 50 people on a hill.

6000 people marching through Coventry?