James Smith
Well-Known Member
HOT aren't binding but I agree it would be interesting to see it.
Seps programme notes. (9 Viewers)
- Thread starter torchomatic
- Start date
HOT aren't binding but I agree it would be interesting to see it.
1
1940 oldfive
Guest
ducks farting on water comes to mind:laugh:
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Mr T - Sukka!
Active Member
Can we all just admit when it comes to CCFC, the mistakes just keep mounting.
She said herself she has no clue about football.
Why keep pouring in money into something thats not going to give you a return? What are her real motives?
She said herself she has no clue about football.
Why keep pouring in money into something thats not going to give you a return? What are her real motives?
Gosford Green
Well-Known Member
The new stadium was nothing but a leverage tool to try to ramp up the pressure on ACL and/or placate the FL, who should make a stand and hold the owners to their obligations and insist on a return to Coventry before the start of the 14/15 season.
Astute
Well-Known Member
Joy hasn't given up on getting the Ricoh on the cheap. The JR route could be her last chance. Hoping that ACL have to refinance and have problems doing so maybe. Once her options have all gone she will have to build, negotiate a return to the Ricoh, sell up or choose between administration and liquidation.
I do believe that they came to our club with good intentions. Get a good manager, put a decent squad together, get promoted and then purchase the Ricoh with some of the proceeds. They would have made a bit of money but would also have a club with a new stadium in the prem with guaranteed parachute payments. But the dream that was sold them went wrong from the start.
I do believe that they came to our club with good intentions. Get a good manager, put a decent squad together, get promoted and then purchase the Ricoh with some of the proceeds. They would have made a bit of money but would also have a club with a new stadium in the prem with guaranteed parachute payments. But the dream that was sold them went wrong from the start.
I agree gosford green 90% of CCFC fans have seen through the smoke screen and all the carefully contrived spin sisu put out, it's almost like propaganda to make us believe them.
This cannot carry on either they are just plain dumb or their stratedgy of financially crippling ACL has back fired.
Take the medicine sisu and give us our club back...
This cannot carry on either they are just plain dumb or their stratedgy of financially crippling ACL has back fired.
Take the medicine sisu and give us our club back...
Snozz_is_god
New Member
I concur
KersleyDigs
Well-Known Member
If Joy had a time machine I wonder if she'd still sanction the bargain basement Dann, Fox, Turner moves and also not buying Henderson and Carroll (as Ranson alleged)
Terry Gibson's perm
Well-Known Member
If she/it had a time machine she would go back further and not buy/take the club at all, but you can't win them all.
RoboCCFC90
Well-Known Member
Of course there not but it would be interesting to see what the new arrangement was and why it wasn't taken upon by all parties.
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Rusty Trombone
Well-Known Member
In the end they couldn't agree the positioning of the Tim and Joy statues, some of the designs were deemed too graphic.
bigfatronssba
Well-Known Member
In fairness her article is something better than fisher or labo could come up with.
She is still an evil vindictive bitch though.
She is still an evil vindictive bitch though.
Astute
Well-Known Member
I thought it never went through because SISU wouldn't pay what was agreed. The only thing that they seem to have paid in the last couple of years is the players wages, rent to Northampton, large legal fees and interest plus management fees to themselves.
RoboCCFC90
Well-Known Member
In the notes it says "Which (The deal) committed funds substantially exceeding the economic value of the Stadium, we produced development plans and brought in specialists (AEG I would assume) to secure the maximum dividend from having the Club stay at the Ricoh - all to no avail."
In my opinion these questions needs answering:
What where these dividends?
Why was it rejected?
Why have these details never been disclosed?
Was the offer within market value?
What differences are there to the last deal offered by ACL?
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SimonGilbert
Telegraph Tea Boy
No offence taken. We printed the full excerpt we were given. If the club had provided the full interview, we would have happily put it all up at the same time.
I can understand that the club wanted to try and shift a few programmes first though. I did used to work for the programme team after all!
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skybluetony176
Well-Known Member
A quick question. When you worked on the program team was there someone present who knew how to spell Coventry ;-)
RoboCCFC90
Well-Known Member
Have you got a comment that will give a sufficient and relative answer or.....
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SimonGilbert
Telegraph Tea Boy
When I worked on the programme, we were voted the best programme in the league
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skybluetony176
Well-Known Member
When I worked on the programme, we were voted the best programme in the league
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And people say Coventry haven't won anything since the FA cup.
RoboCCFC90
Well-Known Member
Simon I appreciate you are only here to browse but do you know have any information relating to the questions posed on post #49?
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We have a team to maximise profits from our programmes!?! They must pay for themselves
SimonGilbert
Telegraph Tea Boy
Dividends: no idea
Rejected: It wasn't rejected. According to a High Court judge, the deal fell apart due to a lack of appetite on either side to complete a deal.
Disclosure: More details may come out in the JR or Labovitch's forums. I would assume nobody is obliged to disclose anything they consider to be commercially sensitive. And some information may well be deemed confidential by the various parties.
Value: Nobody seems to agree on the true market value. There are two PWC reports into the value of ACL. We have never been able to view the full reports. Only a small selection of detail from the older report was revealed in court. Again, I suspect more detail will come out in the JR.
What we do know is that trustees valued the charity's share in ACL at £7.5million. Sisu claimed it was worthless.
Deal: The exact details of any of the deals offered between the parties have never been made public. There's been snippets, speculation, claim and counter-claim and I suspect the truth - as always - is somewhere in the middle.
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RoboCCFC90
Well-Known Member
Top man, I appreciate you taking the time in day to answer my questions, but at this stage would we say that more information regarding the negotiations may be disclosed further in the Judical Review?
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Grendel
Well-Known Member
What did the council value higgs' share in ACL according to the e-mails revealed in court?
SimonGilbert
Telegraph Tea Boy
We didn't find out the precise value
But we did learn that council finance officer, Chris West, felt the £5.5million offer from Sisu was "significantly above market value".
There was also disagreement between the council and the charity over values following the CCC buy-out of ACL's Yorkshire Bank loan.
In short, nobody seems to agree on how much anything is worth. At least from the information we have publicly available.
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RoboCCFC90
Well-Known Member
They want a profit on the original purchase value obviously, it can be the only reason.
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Nick
Administrator
Ahhh but surely they were just helping the club out being supporters? They wouldn't want profit would they?
SimonGilbert
Telegraph Tea Boy
We do not. We may find out during the JR.
Why did Sisu say it was worth £0 but offered £2.5million later on? Nobody really knows, but I'm sure all parties will have the relevant formulas to back up their valuations.
Value becomes a funny term when you're talking about business, a charity and a local authority. I'm sure they all calculate things very differently.
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Nick
Administrator
SISU weren't trying to buy a charity though were they? The valuation was for part of a private company. Whether it is owned by the Queen, a charity or Bill Gates it doesn't make a difference on the valuation does it?
James Smith
Well-Known Member
Yeah I thought you might have been given only a selection of the finished article. If I had been at the club and selecting it I would have included different bits.
RoboCCFC90
Well-Known Member
Ha! I don't doubt that the people who involved in this situation from a Higgs Trust perspective are not supporters, but do I think there intentions were to "help the Club"? Not a chance, not from what I can see.
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SimonGilbert
Telegraph Tea Boy
And as Justice Leggatt pointed out, Sisu are not a charity. So why offer £2.5million for something deemed worthless?
Like I said, nobody (on the outside at least) really knows the true intricacies of what has gone on.
I suspect we will find out more during the JR - but I also suspect it may be some time before we get the complete truth of it all. If, indeed, we ever do.
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