'Series of hotels' to be built at Ricoh Arena (8 Viewers)

[The Gentleman]

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

Dreamland I'm afraid. Where do you think owners get their money to allow them to buy clubs and players, or do you believe owners should give away any other businesses they have once they buy a club? Also, I am sure that I remember Fisher or someone like him saying that CCFC is his main objective now, so on that basis has he helped or hindered CCFC if his main interest is only CCFC?

 

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[Covfather]

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.

Agree with this, I stayed in a Premier Inn in Birmingham last week for 1 night costing me £19.99, I need to stay in a hotel in Coventry city centre for 1 night - getting quoted £66 by Premier Inn at the Butts.

 

[The Gentleman]

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?

Didn't you say you parked in Tesco's?

 

[torchomatic]

NEver said it was realistic or that it would happen, but I wish that's the way it worked. Nothing more.

Dreamland I'm afraid. Where do you think owners get their money to allow them to buy clubs and players, or do you believe owners should give away any other businesses they have once they buy a club? Also, I am sure that I remember Fisher or someone like him saying that CCFC is his main objective now, so on that basis has he helped or hindered CCFC if his main interest is only CCFC?

 

[fernandopartridge]

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.

That's odd. I come to work in Coventry every week and know a number of others who work here who do the same. Only once has a shortage come to light and that was when the university held its graduation ceremony.

 

[torchomatic]

Nope, never said that. I paid to park and had done since 2005.

Didn't you say you parked in Tesco's?

 

[Brighton Sky Blue]

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

No. What I am suggesting is that borrowing such a large sum to take over the loan when SISU had agreed to go splits has to be questioned when the council isn't exactly plush with funds.

 

[lordsummerisle]

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.

Hope they're using better materials than whoever built the banks did.

 

[Brighton Sky Blue]

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:

£14m was spent to take control of ACL's loan from the YB. How can this be in dispute?

 

[Covstu]

Again a 'nothing' story creates uproar on the forum!!

You know what, i hope they build the hotels and take the CCFC crest off the stadium so we can all move on. SISU then have two options, either build the new ground or stay in Northampton but either way i know the fate of my club. Its this waiting around 'will they, wont they' which is causing all of the unsettlement for us fans so i would rather know so we can put this whole matter to bed.

Enough is enough now.

 

[torchomatic]

It was a SISU thing as Mutton said. They were never going to get it. However, they wooed Haskell and tried to sell it to him. This would have been fine if SISU hadn't been the owners of CCFC at the time.

No. What I am suggesting is that borrowing such a large sum to take over the loan when SISU had agreed to go splits has to be questioned when the council isn't exactly plush with funds.

 

[Brighton Sky Blue]

It was a SISU thing as Mutton said. They were never going to get it. However, they wooed Haskell and tried to sell it to him. This would have been fine if SISU hadn't been the owners of CCFC at the time.

Wasn't the £14m not long before Haskell came onto the scene?

 

[Astute]

No. What I am suggesting is that borrowing such a large sum to take over the loan when SISU had agreed to go splits has to be questioned when the council isn't exactly plush with funds.

So you have changed your mind now from saying CCC put 14m in?

So you think that getting a new loan to be able to offer lower rent was worse for the council than letting SISU take the whole thing over for no benefit for the local taxpayer?

If they want the Ricoh they need to pay for it. This means putting an offer in.

 

[lordsummerisle]

So you have changed your mind now from saying CCC put 14m in?

So you think that getting a new loan to be able to offer lower rent was worse for the council than letting SISU take the whole thing over for no benefit for the local taxpayer?

If they want the Ricoh they need to pay for it. This means putting an offer in.

Are you insane??

They did put in £14million through a loan.

 

[Astute]

£14m was spent to take control of ACL's loan from the YB. How can this be in dispute?

The loan was refinanced. The council never put 14m in like you are trying to make out.

 

[dongonzalos]

Who is we and you?

'we' is the council i am discussing their news the person in the article

and I am the conspiracy theorist............

 

[Astute]

Are you insane??

They did put in £14million through a loan.

Yes but he said CCC put 14m in as you know.

 

[torchomatic]

So are you saying CCC didn't put £14M in?

So you have changed your mind now from saying CCC put 14m in?

So you think that getting a new loan to be able to offer lower rent was worse for the council than letting SISU take the whole thing over for no benefit for the local taxpayer?

If they want the Ricoh they need to pay for it. This means putting an offer in.

 

[fernandopartridge]

The loan was refinanced. The council never put 14m in like you are trying to make out.

Who has borrowed the money and who is ultimately liable for the money being repaid? Please keep up.

 

[torchomatic]

They paid the loan off and ACL pay them rather than the Yorkshire so surely they DID put in the money?

The loan was refinanced. The council never put 14m in like you are trying to make out.

 

[dongonzalos]

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

I thought you only commented on the boys on the pitch and how proud you are about them?

 

[Astute]

So are you saying CCC didn't put £14M in?

Have CCC refinanced the 14m or not?

 

[torchomatic]

They paid off the Yorkshire so yes they did put money in. You can label it what you like.

Have CCC refinanced the 14m or not?

 

[lewys33]

Should a thread about hotels at the Ricoh even be started on here? Let alone get to 13 pages?? Christ .......

 

[dongonzalos]

No - the building on a new stadium by SISU is completely irrelevant to the points about the council.

This to me is the council saying if that's your path this is ours. How can say they are irrelevant?

 

[Astute]

They paid the loan off and ACL pay them rather than the Yorkshire so surely they DID put in the money?

If that was the case why do you and others mention that CCC would have to pay the loan back and ACL would have to get a loan to that amount if somehow SISU win the JR and are forced to do so.

 

[dongonzalos]

Should a thread about hotels at the Ricoh even be started on here? Let alone get to 13 pages?? Christ .......

Yes it is directly relevant to the chances of seeing your football club playing in your city again.

 

[duffer]

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.

All councils are cutting costs, in particular at the moment as a function of reduction in central funds from Government and the fact that they're not allowed to raise Council Tax by more than 2% to make up the deficit. There's nothing unique about CCC in that.

In terms of the £14m loan, if paid off as agreed this will actually make money for CCC.

The third-party offering to halve the cost at that point were presumably the ones doing everything possible to wreck ACL, right? To be clear here, if SISU had got control of the loan then all of the Council's investment up until that point is at massive risk. I can't quite see how that halves the cost to CCC.

Which is why CCC say they stepped in to secure it.

I'm not sure about an agreement, but if the way that SISU wanted to get control of the loan was by distressing ACL, then it's hardly any great surprise that the Council decided not to support the process after thinking it through. The staggering thing to me is that they might have even considered it.

 

[Astute]

They paid off the Yorkshire so yes they did put money in. You can label it what you like.

And you can make as many false claims as you like by twisting words as you like. Most of us know the truth.

 

[dongonzalos]

They paid off the Yorkshire so yes they did put money in. You can label it what you like.

Was as oppose to SISU's plan to undervalue the amount legally owed to Yorkshire by distressing ACL?

 

[lewys33]

Yes it is directly relevant to the chances of seeing your football club playing in your city again.

How is that?

 

[fernandopartridge]

If that was the case why do you and others mention that CCC would have to pay the loan back and ACL would have to get a loan to that amount if somehow SISU win the JR and are forced to do so.

Because the council borrowed the money themselves to lend to ACL

Therefore, if the JR finds that ACL have to repay the loan to the council in full, they'd have to find somewhere to borrow the money on the open market to make the repayment.

The council could then repay this to the prudential borrowing scheme or more likely try to find a legitimate way to give the money 'back' to ACL.

 

[shmmeee]

Who has borrowed the money and who is ultimately liable for the money being repaid? Please keep up.

ACL and ACL.

In a separate deal CCC have a £14m loan with whoever and they are liable for that.

At least that's how I was aware it was. I'd imagine if ACL went bust CCC would have to write off that debt and still be liable for the money they borrowed, but they could carry on meeting it, the loss would be absorbed by the council.

If ACL could take the loan out directly there'd be no need for the council. There's two separate contracts and two separate interest rates AFAIK, after all CCC said they're making a profit.

 

[fernandopartridge]

ACL and ACL.

In a separate deal CCC have a £14m loan with whoever and they are liable for that.

At least that's how I was aware it was. I'd imagine if ACL went bust CCC would have to write off that debt and still be liable for the money they borrowed, but they could carry on meeting it, the loss would be absorbed by the council.

If ACL could take the loan out directly there'd be no need for the council. There's two separate contracts and two separate interest rates AFAIK, after all CCC said they're making a profit.

If ACL are unable to repay the £14m who has lost out?

 

[torchomatic]

Oh, now it comes down to exclusive little band who know "the truth". FFS. I'll let you all get on with it, I think.

And you can make as many false claims as you like by twisting words as you like. Most of us know the truth.