possible after JR scenario ? (3 Viewers)
- Thread starter sky blue john
- Start date
mrbluesky87
New Member
Ive fixed it for you this time, silly you.
Grendel
Well-Known Member
The council have shown themselves to be duplicitous and untrustworthy.
Lucas makes even mutton seem lucid and competent - a remarkable achievement. No one will deal with them - they can't cope with real business people and decisions.
WestEndAgro
Well-Known Member
Remind you of anyone Grendull ?
Ian1779
Well-Known Member
Just a different slant, SISU are claiming that the funding provided by the council was 'illegal' in regards to state aid (whatever that means)
If they were to win, are they expecting that the Council would be forced to remove said funding? If that was to happen then would the money have to go back to the Council from ACL. In order for them to raise the funds would they have to tender some kind of lease for their only other part of the Ricoh that gives them money (the football pitch/stadium part), as they don't really have any assets to sell. With ACL compromised SISU would be able to secure a deal that would give them revenue control or anything else in return for the loan amount.
Just a thought, I'm sure it could have many flaws.. but still more likely than a liquidation I think.
If they were to win, are they expecting that the Council would be forced to remove said funding? If that was to happen then would the money have to go back to the Council from ACL. In order for them to raise the funds would they have to tender some kind of lease for their only other part of the Ricoh that gives them money (the football pitch/stadium part), as they don't really have any assets to sell. With ACL compromised SISU would be able to secure a deal that would give them revenue control or anything else in return for the loan amount.
Just a thought, I'm sure it could have many flaws.. but still more likely than a liquidation I think.
The Gentleman
Well-Known Member
Love the (whatever that means) after all the information you have supplied us with over the last two weeks concerning this saga and you then try and act 'dumb'. I hope this isn't something you have put to make yourself look like a normal football fan :thinking about:
CCFC PimpRail
New Member
Daft question- but if the stadium is sold, shouldn't the shareholders in it be consulted, ie the Council Tax payers of Coventry....? I'd at least expect to see a balance sheet to justify the sale for x million pounds if CCC have made y millions overall from the whole Arena project.
But then again, I can't see it going in SISU's favour, it might have too many implications at other council owned grounds around the country, even where the tenants haven't been forcing their landlord out of business....
But then again, I can't see it going in SISU's favour, it might have too many implications at other council owned grounds around the country, even where the tenants haven't been forcing their landlord out of business....
Grendel
Well-Known Member
A normal football fan wouldn't fawn all over the council and its management company - plenty do on here though.
Grendel
Well-Known Member
Tax payers aren't shareholders - shareholders receive dividends and can sell shares.
duffer
Well-Known Member
I agree in that I think that's the main result of SISU winning the JR, the possible removal of Council funding for ACL. As for what happens if that occurs though, I reckon it's a bit cloudy. I don't think there's any obligation on ACL to sell any part of the business to SISU, for example, but just selling a lease for the club to play in the arena still doesn't give SISU what they want - access to the revenue streams.
In fairness whatever happens I think SISU selling up is more likely than liquidation, on the basis they'd get something for the club even in the state that it's currently in. Others may differ, of course.
fernandopartridge
Well-Known Member
if the council are found to have acted unlawfully in the JR, who realistically would want to enter any sort of relationship with them?
fernandopartridge
Well-Known Member
That's my point.
Ian1779
Well-Known Member
Better to only talk about the things you know about rather than try and blag the stuff you don't. I don't know what state aid argument is so I won't pretend I do.
I'm sure you'd no doubt approve.
Ian1779
Well-Known Member
You may well be right, I just wonder where ACL would find money to the tune of £14m if they had to pay it back.
fernandopartridge
Well-Known Member
The streaking competitions and reserve matches will soon pay their way.
J
Jack Griffin
Guest
How are CCFC going to pay ARVO back the £12M they've loaned from them? It was running at £1.8M interest p.a. in the accounts up to May 2013.
Ian1779
Well-Known Member
That has zero relevance to the JR does it?
Grendel
Well-Known Member
Nice sideways shuffle council Jack
duffer
Well-Known Member
Isn't that the key. As I say, I think they have to re-finance in that circumstance, i.e. get a mortgage elsewhere, or head down the road of Administration if they can't. The point I'm making is that doesn't necessarily lead to a SISU buy-out; if ACL goes into Administration it's most likely (imho) that the lease reverts to the Council in any case.
duffer
Well-Known Member
I don't think that most businesses that deal with the council take the same approach as SISU in fairness, so I doubt they're too worried.
To paint SISU as injured innocents in all this is a bit daft, imho. We can see how they tried to negotiate, and what happened to CCFC Ltd and its debts and assets whilst they were doing it. If there was someone I'd worry about being in a commercial relationship with, I think it would be SISU rather than the Council.
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Broken Hearted Sky Blue
Well-Known Member
Wouldn't necessarily have to.
fernandopartridge
Well-Known Member
Fair enough.
duffer
Well-Known Member
Blimey, that's both me and you, and me and Rob agreeing - and all within a few minutes. I'm getting out of here before it all goes horribly wrong. 'Night!
D
Deleted member 5849
Guest
sky blue john
Well-Known Member
Say Acl had to come up with loan money in full, could they ?
If they couldn't then I guess they would go into administration ?
But that scenario doesn't guarantee Sisu would get Acl after the admin process.
If they couldn't then I guess they would go into administration ?
But that scenario doesn't guarantee Sisu would get Acl after the admin process.
possible after JR scenario ?
How about we have reverse look at It. IE; Pre JR.
Of course they may have been engaging in building some movement to coincide with the Case and trying to foster relations to try and persuade attendance at Sixfields next year,but It's a significant shift In attitude . They may be just trying to circumvent communication through the Trust,but the timiing may suggest they have doubts around the JR,exposed through the Judgement in the recent Higgs case.:thinking about:
EDIT; Meeting with fans that IS.:facepalm:
How about we have reverse look at It. IE; Pre JR.
Of course they may have been engaging in building some movement to coincide with the Case and trying to foster relations to try and persuade attendance at Sixfields next year,but It's a significant shift In attitude . They may be just trying to circumvent communication through the Trust,but the timiing may suggest they have doubts around the JR,exposed through the Judgement in the recent Higgs case.:thinking about:
EDIT; Meeting with fans that IS.:facepalm:
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Could'nt they just rent It again like they did at the start??
sky blue john
Well-Known Member
Yes but doesn't that probably defeat their objective of ownership. And haven't they already had low rental offers which they have rejected ?
ccfcway
Well-Known Member
The club have said they have moved on, why are we even talking about a return to the Ricoh ?
Grendel
Well-Known Member
No they haven't. Why do you keep boring everyone with this tripe?
torchomatic
Well-Known Member
Grendel
Well-Known Member
Well they have - another quality event has arrived at the gold mine.
Brighton Sky Blue
Well-Known Member
Which business do you think is in a worse position at this moment in time?
Grendel
Well-Known Member
It depends on the funding structure the club is receiving. Also if the football go down it will re emerge. ACL in the real world will not have that luxury.
ccfcway
Well-Known Member
someone should tell Ms Garlick then