'Series of hotels' to be built at Ricoh Arena (16 Viewers)

[Brighton Sky Blue]

Some valid points here.

Why did the council step in and finance £14M when Sisu could get the loan for half that.
What would it mean to CCC and SISU if SISU took over the loan ?
Would the deal also include getting ACL as a whole with all the leases ?. Always struggled on this.

It says a lot that the council were seemingly prepared to go into business with SISU before having a late change of thought. It doesn't quite tally and the amounts of money involved aren't small change to a council losing hand over fist every year.

 

---

[rupert_bear]

If there is mileage in this hotels and station issue it could explain reasons why our council will not deal with a hedge fund who unfortunately own our football club. Projects like this can be on back burners for years may even explain the much asked questions why the Ricoh idea was originally hatched, as far back as that. Might also explain why this Byng bloke and his train loving Chinamen are/were hovering about but then again might be bollox. Just seems to me things are starting to bubble a bit.

 

[Brighton Sky Blue]

Maybe the JR will reveal this?

The JR will reveal whether or not the council's decision to take out £14m was 'right'-I don't think there are any other ramifications but I'm not a legal man so can't be definite.

 

[Mick Scoop]

The door has finally been slammed and firmly shut!
Well done CCC & Anne Lucas, I hope your proud of yourselves?

Calm down dude, take a chill pill, don't forget Sisu have got plans for a new ground and will be announcing it soon...........................on second thoughts PANIC!!

 

[Astute]

It says a lot that the council were seemingly prepared to go into business with SISU before having a late change of thought. It doesn't quite tally and the amounts of money involved aren't small change to a council losing hand over fist every year.

What money is this?

 

[RoboCCFC90]

The JR will reveal whether or not the council's decision to take out £14m was 'right'-I don't think there are any other ramifications but I'm not a legal man so can't be definite.

There might not be any ramifications as such, but it might pose the question Why the Council decided to go with this option when as you stated Sisu could manage at for £7M?

 

[Mary_Mungo_Midge]

Both sides wanted to buy out ACL's loan with the bank-then the Council opted to borrow an extra £7m and do it all themselves, seemingly without SISU's knowledge. You then have the rejection of a CVA which dished out another points deduction and no cash settlement for the council.

These two aspects of the council's business need explaining. I am not for a minute saying 'poor old SISU'-they are the ones who manipulated the administration process to their advantage and they are the ones who have caused more damage to the club, but the people at CCC have to be clear on the above two actions, especially the former.

Agreed. As I keep on stating - even in this thread - some members of the council have said, and acted in such a way that has been a million miles from helpful.

However, this wrangle could have continued with CCFC at the Ricoh. The JV, plans for a new stadium, the whole shooting match. The fact it hasn't seems nothing more than an act of spite; doesn't it? And whilst CCC may have been culpable for the fall out - to a percentage as yet unknown - they didn't force the football club elsewhere, and do have an ongoing responsibility to ensure regeneration and jobs prevail in this key area of the city.

That doesn't make me 'love' the council; to have a view that SISU's reaction to any provocation appears to have fundamentally damaged the football club in proving whatever point it is they are wishing to make?!?

 

[skybluetony176]

This is the same council that have talked of ambitious plans to:

Build on the old post sorting office (nothing has happened)

Build on the site at the bottom of Bishop St / corner of Corporation St (nothing has happened)

Demolished the Smithfield pub and Shambles arcade for some new flats / shops in 2002 (nothing has happened)

Demolished some houses on Greyfriars Rd for a new development of flats (nothing has happened)

Demolished the fish market to build some more flats / shops (nothing has happened)

Have the 'Belgrade Plaza' development which has been half finished for 5 years or so

Therefore, I take council plans with a huge pinch of salt....

purchasing land, planning and building is never easy, just ask timmy 2weeks can eaily become 9months + with nothing happening or mark 3weeks can easily become mis-quoted. its not as easy as you think.

 

[jimmyhillsfanclub]

Who the fuck is going to stay in these hotels?

.....Oooh....what a lovely view of the M6, Tesco & an disused football stadium....

.....at least the large white elephant will have some company....

..."What a waste of money"

 

[rupert_bear]

The JR will reveal whether or not the council's decision to take out £14m was 'right'-I don't think there are any other ramifications but I'm not a legal man so can't be definite.

What could be interesting is if the council go into this Judicial Review armed with multi-million Government sponsored re-development plans for the Ricoh Arena area. Would that justify our council financing ACL to the tune of just £14million to preserve the master plan if there is one.

 

[Nick]

Must admit that crossed my mind

It is a another move in the game of brinkmanship

You are you no concrete plans for a stadium
We have our no concrete plans for a hotel.

However two points to consider

This is the first time the council themselves have said they will be behind the hotel project ( I believe)

SISU have been building a new stadium for 7 months now. So far I think we have seen a generic photo of what a stadium looks like.

Which project is more likely a hotel in a location that already had demand for it.

SISU spending ( borrowing 30-50 million)

Who is we and you?

 

[Covfather]

A cheap hotel was going to be built on car park 3 (opposite Tesco) a few years ago - but the collapse of the banks stopped this.

 

[Astute]

There might not be any ramifications as such, but it might pose the question Why the Council decided to go with this option when as you stated Sisu could manage at for £7M?

Because they didn't want to be ripped off by SISU?

 

[torchomatic]

I would rather their interests be in the football team than in hotels. So yes.

So the people who own football clubs can have no other business interests?

 

[skybluetony176]

The door has finally been slammed and firmly shut!
Well done CCC & Anne Lucas, I hope your proud of yourselves?

what are you sweating about. you've been telling us for weeks that your "sources" know that the new stadium is definately going ahead which means we are all stupid and you cant wait for the new stadium. so this thread doesn't really concern you, move along

 

[Astute]

Who the fuck is going to stay in these hotels?

.....Oooh....what a lovely view of the M6, Tesco & an disused football stadium....

.....at least the large white elephant will have some company....

..."What a waste of money"

How many hotels have you ever stayed at to think that they have great views?

 

[Captain Dart]

I would rather their interests be in the football team than in hotels. So yes.

And you say that without a trace of irony when the owners in fact specialise in "event driven investments in high yield and distressed debt securities for the restructuring of industrial companies".

 

[Astute]

I would rather their interests be in the football team than in hotels. So yes.

So you think that SISU should get rid of every 'investment' they have and concentrate on our football club?

 

[ccfcway]

not having any of this until i see a picture done by a school child of a travel lodge on the car park and the council set up a group to decide what colour the curtains should be !

 

[Brighton Sky Blue]

Agreed. As I keep on stating - even in this thread - some members of the council have said, and acted in such a way that has been a million miles from helpful.

However, this wrangle could have continued with CCFC at the Ricoh. The JV, plans for a new stadium, the whole shooting match. The fact it hasn't seems nothing more than an act of spite; doesn't it? And whilst CCC may have been culpable for the fall out - to a percentage as yet unknown - they didn't force the football club elsewhere, and do have an ongoing responsibility to ensure regeneration and jobs prevail in this key area of the city.

That doesn't make me 'love' the council; to have a view that SISU's reaction to any provocation appears to have fundamentally damaged the football club in proving whatever point it is they are wishing to make?!?

You are right to say that all the idiocy could (and likely would) have carried on at the Ricoh but then we would at least be playing in Coventry in front of a lot more fans who wouldn't have had their loyalties cut right down the middle. Our club could be achieving so much more but the perfect storm happening off the field is putting paid to any progress we could make.

The point for SISU, or to be more accurate, Seppalla, is a personal one that defies common business sense. She has a personal agenda against those at the council and is letting it dictate what she does-she is very happy to lose oodles of money if it means she eventually gets one over on the council.

 

[torchomatic]

Whoever the owner is both present and future. So yes. I don't care about anyone else, just Coventry City.

So you think that SISU should get rid of every 'investment' they have and concentrate on our football club?

 

[italiahorse]

There might not be any ramifications as such, but it might pose the question Why the Council decided to go with this option when as you stated Sisu could manage at for £7M?

It must be a control issue.
Would Sisu not want full control of ACL for just putting in £7M?
Did ACL not have an option until the council came up with an alternative?

 

[rupert_bear]

I get the feeling things are moving on a bit. But my concern is where could it leave my football team. What will SISU do with it if a hotel, station and whatever project happened leaving sisu out in the cold. I really believe this summer is crunch time for us, us being the football team.

 

[Brighton Sky Blue]

What money is this?

CCC runs at a deficit and is being required to make extensive budget cuts across the board-therefore to plough £14m into something other than public services suffering from such cuts is something that needs to be answered. Especially when a third party was offering to halve the cost.

 

[Moff]

Personally I couldn't give a sh*t about the hotels or not.

Until someone SISU, Otium, ACL or anyone else involved in the car crash of a drama that is CCFC, actually does something apart from release soundbites in the press telling us what they want to do, will I actually take any fekking notice.

 

[Brighton Sky Blue]

There might not be any ramifications as such, but it might pose the question Why the Council decided to go with this option when as you stated Sisu could manage at for £7M?

That is something which needs answering by those who made the decision.

 

[jimmyhillsfanclub]

How many hotels have you ever stayed at to think that they have great views?

It was a flippant comment to highlight the fact that the area is not particularly desirable as a destination is it.....why would anyone want to stay there??

...Apart from the extremely rare conference or gig at the ricoh, who else is EVER going to book a room....

....I would suggest their may be demand for 1 tiny budget hotel for the weary motorist who couldn't be arsed to find a better location after being stuck in a tail-back....

This really is a dumb idea.

 

[torchomatic]

It's a bit short sighted to be building on the car parks too, isn't it? Regardless of whether we get CCFC back or not won't that affect future events and concerts, etc?

 

[RoboCCFC90]

Because they didn't want to be ripped off by SISU?

Possibly but I keep thinking about Coun Mutton's words about a year and half ago where he said Sisu would never own a part of the Arena, was this just CCC ensuring that Sisu didn't acquire any of the business?

 

[duffer]

Surely If you take the article at face value Its highlighting the drawback of not having sufficient rooms available to bid for certain events?
Question would then be who would use those rooms in the downtime around events and does that make them viable and worth the Initial Invetment.

I think there's a general shortage of hotel rooms when there are big events at the NEC too, fwiw.

Plus, I think the idea of the extra rooms at the Ricoh is not only to make money at current events, but also to make them more attractive and hence bring in even more events there too.

Regardless of all of the football-related politics, I think there's merit in the idea from a business sense, and it couldn't hurt the local economy either in terms of jobs.

To return to the football bollocks, I'm not sure if the plan will come off or not, but I think hotels at the Ricoh is more realistic from a financial point of view than Arena Timothy (location tba).

 

[RoboCCFC90]

That is something which needs answering by those who made the decision.

I completely concur BSB. Maybe this will be questioned at the JR, shouldn't read to much into these points, but it's questionable at the least.

 

[wingy]

CCC runs at a deficit and is being required to make extensive budget cuts across the board-therefore to plough £14m into something other than public services suffering from such cuts is something that needs to be answered. Especially when a third party was offering to halve the cost.

Are you suggesting that the response to cuts In central grant should be offset by borrowing from the Govt?

 

[Astute]

CCC runs at a deficit and is being required to make extensive budget cuts across the board-therefore to plough £14m into something other than public services suffering from such cuts is something that needs to be answered. Especially when a third party was offering to halve the cost.

I thought we had heard the last of people trying to make out that CCC had put 14m into the Ricoh when they have not. Yet Torch who certainly knows the truth agrees with you :thinking about:

 

[Skyblueweeman]

Surely If you take the article at face value Its highlighting the drawback of not having sufficient rooms available to bid for certain events?
Question would then be who would use those rooms in the downtime around events and does that make them viable and worth the Initial Invetment.

Working in the hospitality industry, there's always a need for hotel rooms. You could hold a residential conference for a 1,000 people at the Ricoh and if you've only got 100 or so bedrooms, you have an issue. Then when you don't have large conferences, you have can have smaller meetings and events, there's enough large companies in and around Coventry to need bedrooms for business travellers through the week and at the weekend, you'd sell leisure break packages which would have tickets to attractions in the Midlands/surrounding areas.

You wouldn't build another 9 hotels but there could potentially be need for one or two more.

WM

 

[rupert_bear]

There is a massive shortage of hotel rooms in Coventry and it costs the city business. Midweek all our hotels are chocker and have been for years.