AFCCOVENTRY
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Here we go again...
Labovitch in Cov Tel has mentioned land deal will be announced to supporters next month.
Sky Blues to reveal new Coventry City stadium plan next month
15 January 2014 12:04 PM By Simon Gilbert
Director says club is in the final stages of securing land for a new home - but return to Ricoh is still 'preferred option'
Architects' image for new Coventry City stadium
The preferred site for a potential new Sky Blues stadium is likely to be officially revealed next month.
Speaking to the Telegraph today, Mark Labovitch - non-executive director of Coventry City - confirmed the club was in the final stages of securing land for a new home and details were likely to be revealed in February.
He said: “We are about three weeks away from being able to name the final site. We are down to two sites and hopefully, within a month, two will be down to one.
"I don’t like the position of no comment, but the commercial and political sensitivity around land negotiations is such that we can not talk about individual sites yet.”
Mr Labovitch confirmed a return to the Ricoh Arena would be the preferred option, but with negotiations seemingly reaching stalemate , the club would press ahead with plans for a new stadium.
He said: “Our preferred option is to bring the football club back to Coventry as soon as possible.
“Obviously buying a stadium which is already there is the quickest option and that is what we would have preferred to do.”
He added the club would only return to the Ricoh if negotiations over arena ownership were re-opened by the council and suggested the 40-year lease of stadium operators Arena Coventry Limited (ACL) was a major stumbling block.
But a statement from Coventry City Council leader Ann Lucas, on Tuesday, insisted the council and ACL would now look to move on with or without the Sky Blues - possibly opening the door for a new anchor tenant.
Mr Labovitch said: “The council needs to make clear exactly what it would sell, the freehold or the leasehold. You can’t have the leasehold without dismantling ACL, but there is no break clause in ACL’s contract.
"Let’s say you wanted to buy a shop and have a great idea about how to make that shop more money, but it has a sitting tenant on a 20-year lease, why would you buy it?”
An impending judicial review over a deal which effectively saw the council become ACL’s mortgage lenders by buying the company’s bank debt for £14m could be key to negotiations.
Asked about the impact of the council loan potentially being recalled, Labovitch said: “I think ACL would go bust.”
Responding to the suggestion ACL folding is what the club wanted, he added: “It’s none of our business, we want to run a football club.”
Adding: “It would help it they were not there.”
Labovitch in Cov Tel has mentioned land deal will be announced to supporters next month.
Sky Blues to reveal new Coventry City stadium plan next month
15 January 2014 12:04 PM By Simon Gilbert
Director says club is in the final stages of securing land for a new home - but return to Ricoh is still 'preferred option'
Architects' image for new Coventry City stadium
The preferred site for a potential new Sky Blues stadium is likely to be officially revealed next month.
Speaking to the Telegraph today, Mark Labovitch - non-executive director of Coventry City - confirmed the club was in the final stages of securing land for a new home and details were likely to be revealed in February.
He said: “We are about three weeks away from being able to name the final site. We are down to two sites and hopefully, within a month, two will be down to one.
"I don’t like the position of no comment, but the commercial and political sensitivity around land negotiations is such that we can not talk about individual sites yet.”
Mr Labovitch confirmed a return to the Ricoh Arena would be the preferred option, but with negotiations seemingly reaching stalemate , the club would press ahead with plans for a new stadium.
He said: “Our preferred option is to bring the football club back to Coventry as soon as possible.
“Obviously buying a stadium which is already there is the quickest option and that is what we would have preferred to do.”
He added the club would only return to the Ricoh if negotiations over arena ownership were re-opened by the council and suggested the 40-year lease of stadium operators Arena Coventry Limited (ACL) was a major stumbling block.
But a statement from Coventry City Council leader Ann Lucas, on Tuesday, insisted the council and ACL would now look to move on with or without the Sky Blues - possibly opening the door for a new anchor tenant.
Mr Labovitch said: “The council needs to make clear exactly what it would sell, the freehold or the leasehold. You can’t have the leasehold without dismantling ACL, but there is no break clause in ACL’s contract.
"Let’s say you wanted to buy a shop and have a great idea about how to make that shop more money, but it has a sitting tenant on a 20-year lease, why would you buy it?”
An impending judicial review over a deal which effectively saw the council become ACL’s mortgage lenders by buying the company’s bank debt for £14m could be key to negotiations.
Asked about the impact of the council loan potentially being recalled, Labovitch said: “I think ACL would go bust.”
Responding to the suggestion ACL folding is what the club wanted, he added: “It’s none of our business, we want to run a football club.”
Adding: “It would help it they were not there.”
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