1.07:34 into shanes show on bbc listen to the dribble from the sisu man
Sisu boss Joy Seppala rejects council offer to play at Ricoh Arena rent-free (6 Viewers)
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1.07:34 into shanes show on bbc listen to the dribble from the sisu man
To be honest I don't think that CCC would come up with a plan of that kind, but I think sisu is fully capable of doing it. So the plan in my mind was masterminded by sisu. It may be they convinced CCC that the ACL mortgage was in distress - especially as the club couldn't afford to pay the exorbitant rent, that Deloitte was looking into it and that it would save a lot of faces if sisu bought it and discharged it.
Maybe CCC bought the idea but then had a change of heart for some reason (maybe something to do with ACL would end up the losers going out of business?).
It just stands out that the club need to own the stadium and all revenues. There seem to have been a few attempts to bring down the rent over the years, but that ACL wouldn't have it until the heat was really turned up.
Today we say sisu took our club away, but those owning ACL should ask the management how and why they lost their most important tenant. Maybe the management will look back at the owners and say: You started it, we couldn't prevent it then.
Never been tried though has it because the minority have decided to support SISU's move. IMO if no one at all goes , or had not gone to Sixfields since the start of the season SISU would have had to get round the table and thrash a deal out. You cannot alienate all your customer base . 80% yes . It still gives you some income . But 100% that would have given them food for thought.
James Smith
Well-Known Member
I still don't know what benefit our club would get from owning the stadium as opposed to the revenues from the ACL lease, Sisu Capital Partners yes but CCFC no.
I think 'owning the stadium' means the freehold and the shares in ACL (which could lead to ACL being closed down and replaced by AEG).
Grendel
Well-Known Member
The tone of the interview suggested two things;
The sale was agreed and the subsequent rejection and points deductions have created an animosity that is beyond repair
They are not building a new stadium never, ever.
Grendel
Well-Known Member
This is obvious and James isn't stupid so why he pretends to not understand this I'm not sure. Owning the freehold will mean ACL disappear the next day.
ian lollipop
New Member
time to stop this crap fuck them off they aint coming back rip Coventry city hello Coventry where ever i think the council should call there bluff now time for phoenix club no new stadium no team not in Coventry
James Smith
Well-Known Member
Are you calling Joy, Tim and Mark liars because as late as last night Mr Labovitch said we were building a stadium.
ML in Coventry Telegraph said:
James Smith
Well-Known Member
Legally ACL is a separate entity (owned by both the council and the charity) who have the lease and therefore they would have to be bought as well. Legally just owning the freehold will not hand over ACL as the Higgs could block the sale of the council share to a purchaser (although this is unlikely).
James Smith
Well-Known Member
With the greatest of respect to the late Sir Higgs, PWKH and the people who run the Higgs I really wish you hadn't bailed us out and had let us go bust/into admin all those years ago.
Astute
Well-Known Member
What do we have to do to make SISU disappear the next day other than sell our souls to them?
he struggled to say anything about a new stadium when live on air this morning, i suggest they are no nearer building a new stadium than they were 3 years ago,
its not happening my friend..
shmmeee
Well-Known Member
Ultimately if Seppala is the ball buster she's made out to be and will take this to the end, our only viable play is a new club. The question is: when?
When the Ricoh is off the table?
When plans are revealed to return out of CCC boundary?
Out of 9 mile radius?
Out of CV postcode?
When the club disappears legally/officially?
D
Deleted member 5849
Guest
Round in circles, but plans for new stadium (or otherwise) kind of key.
Just outside Cov? No issue.
Rock up in Harborough Magna, obligation to set up new club in Coventry.
It's subjective of course, but currently the club has a chance of returning to Coventry. Even if the Ricoh found another use it has the opportunity of returning to Coventry is land within Coventry is found for a new ground.
Once the club has something it can point to that has it in Solihull, and wilfully refusing an opportunity, that's the time.
Or, if like me, (and a fair few others it must be said) you feel the club will either go belly up or find resolution in a year or so, there's your natural break.
Just outside Cov? No issue.
Rock up in Harborough Magna, obligation to set up new club in Coventry.
It's subjective of course, but currently the club has a chance of returning to Coventry. Even if the Ricoh found another use it has the opportunity of returning to Coventry is land within Coventry is found for a new ground.
Once the club has something it can point to that has it in Solihull, and wilfully refusing an opportunity, that's the time.
Or, if like me, (and a fair few others it must be said) you feel the club will either go belly up or find resolution in a year or so, there's your natural break.
Yep, it needs to be in place for 2014/15 season.
shmmeee
Well-Known Member
Id like to see a wide scale poll (if only for the stats geek argument threads afterwards) because you need to know the tipping point for fans.
I'd suspect that in their hearts no one wants a new club, and most would swallow their pride if it's a mile or two outside the border, as long as it's not blatantly somewhere no one would call Cov.
So the club will know this too and want to delay putting a marker down somewhere too early and risk giving and new club a chance. My guess (if at all) is some time in the close season after another bout of fake negotiations that lead nowhere. Ideally after a new season has kicked off.
For me I'd back a new club if no location is announced before summer but I think most aren't at that point and will want to wait for confirmation.
M&B Stand
Well-Known Member
I'd like to know why sisu didn't let us go bust when they first came in and 'saved' us at the 11th hour
D
Deleted member 5849
Guest
What better than a football forum debating the nuances of research methodology!
DazzleTommyDazzle
Well-Known Member
James Smith
Well-Known Member
For those that can't get the iPlayer:
Shane: There’s been another twist in the tortuous talks between the city council and the sky blues over the possibility of the club returning to the ricoh arena there are reports today and I think they were in the papers yesterday as well that a rent free offer for the club to move back into the Ricoh for the rest of the season was put on the table but rejected because of the conditions that were attached to the deal. er but the club says the deal still formerly has to be put and reports in the press that offer was made during talks in October between Joy Seppala the boss of the sky blues owner sisu and the leader of Coventry city council Ann Lucas have been denied by councillor lucas. She told bBC CWR the council wouldn’t have the authority to make such a proposal but she’s insisted the actual details of the conversation with miss seppala remain private. lets see if we can get any further details on all of this Mark Labovitch is an independent non executive director of the sky blues and joins us on the show Mark thanks for being with us, Morning.
Mark: Morning Shane
Shane:How much accuracy in the report do you place, I mean from your perspective do do you look at this and see that any of this is accurate or not
Mark: well look its all this I’ve banged on about this before but one of the things that’s made talking to er ACL difficult is the’d employed Webber shandwick a london based branch of a global Pr firm at vast expense to spin stuff i mean you know that’s their job and they’re doing the job they’re hired to do ah I think there were four spin doctors working on that very short statement acl put out but I’m afraid it was misleading erm I wanna make it clear no one has ever directly contacted us the club or or Otium or joy herself to make a proper offer or discuss a proper offer based on rent. When Ann met Joy and it’s absolutely right I don’t know everything they talked about and it’s really important that the two ladies who struck up a really good relationship had their talks in private without anyone else butting in
Shane: [Possibly a grunt or] Yeah
Mark:But what I but so I can’t say everything that was said what I know what wasn’t said which is that ann did not present yo know in proper detailed terms the terms of a rental offer to joy. SO if that impression is being given then that is misleading er look we’re really really consistent we think a club any club is only financially viable for the long term if it owns it’s stadium we thought we’d agreed a deal involving stadium ownership, over a year ago, a really great deal that involved stadium ownership involved AEG the worlds greatest venue management company er running the ricoh and building it into everything it was intended to be and more rather than the sort of lack luster back water that it is now.
Shane:I have to say Which we talked sorry I was going to say we talked to a fans group recently who met er with er ann lucas as well and had a from what we can understand a bit of a stilted conversation because she had her lawyers there and she felt there were certain things because of the judicial review.
[Mark makes noises in the background]
Yeah but and it is a point isn’t it is that going to be carried on to it’s conclusion by by you do you think
Mark: is what going to be carried on
Shane:The Judicial review is that going to continue Is that going to carry on or is that ever going to be dropped do you think or is that not just a bargaining chip on the table
[E & OE]
James Smith
Well-Known Member
Mark: Judicial review is a really serious thing you know it’s not us suing the council ah you know in perhaps the way that ACL tried to sue Northampton town you know but what it is a deal was agreed I a really great deal for the whole city of Coventry because it would be having the ricoh managed by the worlds top venue management company I mean al ot of your listeners know about AEG it’s the company that they own great venues for both sport and music and they also manage other peoples venues and they take a cut of what they bring in they own the o2 which as you know they transformed from a white elephant dome into the worlds greatest concert arena you know it outsold Madison Square Gardens in ticket sales. They own a lot of sports stadia as well and sometimes the team that plays in them I mean they own and developed the staples centre to regenerate a run down part of LA and own LA Galaxy as well and we had a fantastic deal agree with the council a term sheet on council stationary with erm you know a number of conditions in that deal one of which was that we had introduced AEG we brought them up to Coventry did a presentation to the council that blew them away it was really impressive and er it also involved the council involving sisu to pay off ACL’s mortgage. Now we’ve no idea why they suddenly changed their mind and didn’t want to do that deal with us and in order to stop us doing that deal as I say a deal that was great for everyone er they used taxpayers money er to er take out ACL’s debt
Shane: well that is still that hasn’t been I mean that’s still that’s what the judicial review is all about
Mark: Absolutely
Shane:So you can’t you can’t say definitively because that was that was the whole point
Mark: of course I’m not saying that definitively
Shane:You just did it you indicated that they used taxpayers money we don’t know that they used taxpayers money
Mark: We we know they used city cash balances just make that really clear and it’s not for us to decide exactly what they did or how lawful it was. Which is why a judicial review is asking the hight court.
Shane: Absolutely right but can I just ask you, the AEG deal how long is that deal on the table for I mean are we saying that any further delay could jepardised that deal?
Mark: They’ve already jepardised the deal by deciding not to do that deal with us. AEG need to know who they’re working with they know like everyone else in the business that a stadium is only viable if it’s home to what the what the Americans call a sports franchise. So they need a stadium with a club in it. Boris knows that the Olympic stadium in London needs to have a sports franchise that’s why he put it out to tender and you know to three London teams to get one of them in there.
Shane: Erm Quick Question before and I don’t know if you can answer this in terms of identifying the sites and building the ground elsewhere, where are you with that?
Mark: Er we are at very advance stages as with all property deals it’s very very difficult to pin down a date I mean you try and build a conservatory and you can’t get the precise date can you so er it’s a mugs game if I start giving you firm dates for various stages but we’re running very hard
Shane: Are you still looking at three sites are you still is that the latest
Mark: Yeah uh you know we’re looking at multiple sites as you’d expect us to do a there are a number of variables it would be stupid to have all our eggs in one basket er but look you know we’re running very hard at it for a very good reason and that is ann lucas made a statement on the 30th of October which was a pleasant surprise for us it was basically saying she was prepared to discuss a deal involving ownership but by the time she got to London the council had obviously changed their minds about that now if they wanted to say openly look sorry we made this statement it’s no longer true we had a change of heart that’s fine but it was never told to us in a straight forward way it was off stage whispers on the ??? show it was passing a rent deal indirectly not directly to us I mkean I think it was probably sent in one of those Amazon drones and we’ll get a note saying that it’s been left out of reach in a neighbours tree in Ryton
Shane: Mark thanks for that
[E & OE]
Shane: well that is still that hasn’t been I mean that’s still that’s what the judicial review is all about
Mark: Absolutely
Shane:So you can’t you can’t say definitively because that was that was the whole point
Mark: of course I’m not saying that definitively
Shane:You just did it you indicated that they used taxpayers money we don’t know that they used taxpayers money
Mark: We we know they used city cash balances just make that really clear and it’s not for us to decide exactly what they did or how lawful it was. Which is why a judicial review is asking the hight court.
Shane: Absolutely right but can I just ask you, the AEG deal how long is that deal on the table for I mean are we saying that any further delay could jepardised that deal?
Mark: They’ve already jepardised the deal by deciding not to do that deal with us. AEG need to know who they’re working with they know like everyone else in the business that a stadium is only viable if it’s home to what the what the Americans call a sports franchise. So they need a stadium with a club in it. Boris knows that the Olympic stadium in London needs to have a sports franchise that’s why he put it out to tender and you know to three London teams to get one of them in there.
Shane: Erm Quick Question before and I don’t know if you can answer this in terms of identifying the sites and building the ground elsewhere, where are you with that?
Mark: Er we are at very advance stages as with all property deals it’s very very difficult to pin down a date I mean you try and build a conservatory and you can’t get the precise date can you so er it’s a mugs game if I start giving you firm dates for various stages but we’re running very hard
Shane: Are you still looking at three sites are you still is that the latest
Mark: Yeah uh you know we’re looking at multiple sites as you’d expect us to do a there are a number of variables it would be stupid to have all our eggs in one basket er but look you know we’re running very hard at it for a very good reason and that is ann lucas made a statement on the 30th of October which was a pleasant surprise for us it was basically saying she was prepared to discuss a deal involving ownership but by the time she got to London the council had obviously changed their minds about that now if they wanted to say openly look sorry we made this statement it’s no longer true we had a change of heart that’s fine but it was never told to us in a straight forward way it was off stage whispers on the ??? show it was passing a rent deal indirectly not directly to us I mkean I think it was probably sent in one of those Amazon drones and we’ll get a note saying that it’s been left out of reach in a neighbours tree in Ryton
Shane: Mark thanks for that
[E & OE]
James Smith
Well-Known Member
Well there's the problem with the new stadium spelled out, they're running at it - not planning it :facepalm:
Brighton Sky Blue
Well-Known Member
A two-bit ground can easily be built in not much time, so the 5 year cushion Seppalla has secured is ample for her to drag this out as long as needs be. Those boycotting will naturally increase the amount she must persuade new investors to hand over to cover losses but will not take her away from the ultimate aim of owning a stadium with all the trimmings and zero council involvement. This is a personal agenda for her and she is very happy to defy common business sense to make it happen-of course, with the Ricoh already built and ready to use, it makes more sense to try and get this cheaply first of all. But if the council hold firm, over a period of years, a new ground will become the only viable option to get one over on them.
I believe we will ultimately get a ground of our own, and almost certainly a return to Coventry, but only once either the council folds or Joy loses her patience on waiting for them to do so.
I believe we will ultimately get a ground of our own, and almost certainly a return to Coventry, but only once either the council folds or Joy loses her patience on waiting for them to do so.
coventry is my faith
Member
Agree with everything you just said !!!
Hobo
Well-Known Member
And in that plan I bet the return on their investment will be the main feature, it won't be for the good of CCFC.
covcity4life
Well-Known Member
good interview
council need to go public with that they are willing to do.
council need to go public with that they are willing to do.