And to think this whole situation (1 Viewer)
- Thread starter paulw
- Start date
oscillatewildly
Well-Known Member
All parties concerned in this seemingly never ending debacle need to hastily possess a 'moral compass'.
James Smith
Well-Known Member
Think it's part of the joint venture they own not Compass but happy to be corrected.
Mary_Mungo_Midge
Well-Known Member
A joint venture business with Compass owning 23% - this 'intended' to focus their minds in making it work; given their stake.
Never seemed to work when I fancied anything to eat or drink at the Ricoh though, to be frank...
Nick
Administrator
James Smith
Well-Known Member
jimmyhillsfanclub
Well-Known Member
Compass are a massive company.....there is no way a tin-pot little business like ACL own any of it....
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Terry Gibson's perm
Well-Known Member
We must have been selling thousands of pies the way they are going on but certainly not to me as I refused to buy from them as the club got nothing from it but I still want Sisu to go.
oldskyblue58
CCFC Finance Director
the OP is wrong in so many ways :facepalm:
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dongonzalos
Well-Known Member
The OP has started thre threads recently
Waggot is God
You can't believe the CET
All this was over pie money
Waggot is God
You can't believe the CET
All this was over pie money
It's never ever been that simple unfortunately, if only!
It's about the Club receiving (and controlling) ALL revenue streams under the 'FIFA FFP' rules that dictate we can only spend 60% of our gross turnover on player related issues ie. transfers, wages, signing-on fees & bonuses etc. etc..
At the Ricoh the club got nothing from far too many revenue streams such as car parking, corporate events etc. not just the food & beverage money pocketed by Compass.
All 92 clubs are now affected by FIFA FFP rules and Manchester City are facing a huge fine + a reduction in their Champions League squad and in the future anyone flagrantly breaching these rules could face a domestic points deduction.
The 60% as far as the Sky Blues are concerned relates to gross turnover, it's imperative that either our club or it's owners must own it's stadium and be in control of all it's revenue streams, including food & drink.
Astute
Well-Known Member
I blame it on Larry Grayson for not shutting the door.
hill83
Well-Known Member
Never had an issue getting a beer or food. Walk to bar. Get in queue.
Buy item. Done.
General knowledge questions for RFC:
Did our club sell the F&B rights?
Did our club have the option to buy the Higgs' share?
Can our club have the F&B rights without owning the stadium, e.g. when they lease the stadium, ( ACL get a share of the F&B and don't own the stadium )?
If the club dropped the JR, told ML to shut up and announced a willingness to negotiate with CCC to find a solution to these problems, do you think that we would have a better chance of at least talking about moving forwards?
I will enjoy a relaxed evening awaiting the answers and tell you if you're right tomorrow.
bigfatronssba
Well-Known Member
As its all about pie money I am seriously confused.
Can someone please explain how the club ended up £60m in debt whilst at Highfield Road, despite at that time having access to the sacred goldmine of Steak and Kidney revenue?
Can someone please explain how the club ended up £60m in debt whilst at Highfield Road, despite at that time having access to the sacred goldmine of Steak and Kidney revenue?
Years ago I bought a pie with a fiver and got change for a tenner. Maybe that happened a lot.
italiahorse
Well-Known Member
Didn't ACL say that the club could have the income cross accounted so it could be used for the FFP calculation.
Didn't SISU turn it down. Not saying it was conclusive but it would form the basis of part of a deal.
The more I look at several little attempts to help like this the more I realise what SISU are up to.
Negotiate, tell the truth or just Fcuk off.
James Smith
Well-Known Member
James Smith
Well-Known Member
Two words............and the second one is Richardson
shy_tall_knight
Well-Known Member
pie money although important is a bit of a red herring, to justify their current actions
bigfatronssba
Well-Known Member
First being Kevin?
Anyway your wrong. According to several prominent forum posters and sisu, it doesn't matter how incompetent the owners are so long as they have access to pie revenue. Pies solve all the problems you see.
What's your point? I try to stimulate discussion and not be negative.
I have never said Waggott is God that is your quote. I think Waggott has done a great job. I said 'hats off' to the CET. In fact the more I think of it the more I see you are an idiot. You change things to suit yourself.
James Smith
Well-Known Member
Nope not Kevin, unless he was the biggest shareholder in the club at one point.
Astute
Well-Known Member
It was never about the pie money. The pie money excuse came into it once the reduced rent offers came in that were seen to be a good rate.
Whilst ignoring everything that we have already gone over too many times who could say it would have been worth everything that has gone on and the income they are losing out on just to make a bit of pie money each year? Only a fool would think it was all about the pie money.
Whilst ignoring everything that we have already gone over too many times who could say it would have been worth everything that has gone on and the income they are losing out on just to make a bit of pie money each year? Only a fool would think it was all about the pie money.
shmmeee
Well-Known Member
We were never £60m in debt when Richardson left. That's one thing I believe him on, maybe £20-30m after all the player sales and everything.
McGinnity did far worse for our finances. Blew millions on shit players, brought in crap manager after crap manager, sacked the ones that looked like they might be doing well, gave away half the Ricoh and all the pie money.
Richardson gets a bad rap, but McGinnity should be the one everyone blames.
Kingokings204
Well-Known Member
No obviously it's not all about pie money at all. It's all about Ricoh on the cheap and selling on as a package to the highest bidder and never returning to Coventry ever again.
I agree pie money was only stated when reduced rent offer come in from ACL and the club had to act fast to cover up the truth on the move out.
Unfortunely it has backfired on sisu as they genuinely thought they would be getting around 6k attendances not 1-2k and this makes a massive difference over the season as funding losses is ok shirt term but funding a disaster isn't.
I don't believe they can just pile on the debts and they just get rid of them as such. It seems like ACL are struggling also though doing better than the club. But a streaking event and spiders isn't exactly big money spinners I could imagine.
Anyway top and bottom of it is there is a deal to be done to get Cov back in Cov that allows everyone to "win". Ccfc get the income streams for FFP which I understand and ACL get a little rent. The naming rights are up soon so that's big dosh and is ccfc got 50% share of ACL then solves a lot if problems.
I agree pie money was only stated when reduced rent offer come in from ACL and the club had to act fast to cover up the truth on the move out.
Unfortunely it has backfired on sisu as they genuinely thought they would be getting around 6k attendances not 1-2k and this makes a massive difference over the season as funding losses is ok shirt term but funding a disaster isn't.
I don't believe they can just pile on the debts and they just get rid of them as such. It seems like ACL are struggling also though doing better than the club. But a streaking event and spiders isn't exactly big money spinners I could imagine.
Anyway top and bottom of it is there is a deal to be done to get Cov back in Cov that allows everyone to "win". Ccfc get the income streams for FFP which I understand and ACL get a little rent. The naming rights are up soon so that's big dosh and is ccfc got 50% share of ACL then solves a lot if problems.
What's all that about? Do you have an agenda? Are you implying something with no facts to back it up? Or are you trying to start a rumour - to damage the council's or ACL's reputation?
shmmeee
Well-Known Member
That's the wonderful thing about propaganda, after a while the proles start doing it for you.
As fans, shouldn't we be taking Sisu for their word that ACL/Ricoh is a terrible investment and be pushing them to build this stadium that will rise us to heaven?
They're already 3 months behind the schedule set in February by my reckoning, if the project is slipping at that rate, it will literally never be completed.
Where's Garlick?
sky blue john
Well-Known Member
J
Jack Griffin
Guest
When Richardson left he wrote off all the debts, the whole £32M or so. *
When SISU bought the club the only debt they had to pay was £8M, mainly to the taxman & probably some 'football debts'. They then financed the club with ~£3M injection of funds, all the additional accumulated debt is down to SISU's mismanagement. Clearly at that time they took on a few contracts that were burning money, and the rent etc., ie what they bought was "encumbered".
The total debt is now, I believe, somewhat north of £45M. Therefore the additional debt incurred is about £32M.
SISU are the organisation that have been running the club at a loss of ~£5M per annum, not Bryan Richardson, not ACL, not CCC, not Geoffrey Robnson, but SISU and SISU alone.
* OK, if the club returned to the prem in a few years he got £6M back, but that was definitely not happening after the first season SISU were in charge.
When SISU bought the club the only debt they had to pay was £8M, mainly to the taxman & probably some 'football debts'. They then financed the club with ~£3M injection of funds, all the additional accumulated debt is down to SISU's mismanagement. Clearly at that time they took on a few contracts that were burning money, and the rent etc., ie what they bought was "encumbered".
The total debt is now, I believe, somewhat north of £45M. Therefore the additional debt incurred is about £32M.
SISU are the organisation that have been running the club at a loss of ~£5M per annum, not Bryan Richardson, not ACL, not CCC, not Geoffrey Robnson, but SISU and SISU alone.
* OK, if the club returned to the prem in a few years he got £6M back, but that was definitely not happening after the first season SISU were in charge.
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Danceswithhorses
Well-Known Member
To be fair, the only people that say ACL are struggling are SISU/Otium.
Why do we believe that, when everything else they tell us seems to be bullshit ?
Even though they are small and probably one offs, at least spider shows and streaking events pay up.
Add that to the lucrative conferences, and ACL may be doing better than SISU/Otium want everyone to think.
Unfortunately the JR means ACL are saying nowt, so we can't hear their side.
As for SISU/Otium, they must be pissing money down the drain at the moment, but hey, it's not their money, it's only their investor's cash.
Is that how they normally look after their customers ?
Well based on moving ccfc to f#*king Northampton, yes.
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Nick
Administrator
So you are saying acl have nothing to do with the company who does the catering etc at the ricoh?