Labovitch - no more spin. (2 Viewers)

[DazzleTommyDazzle]

I'm not saying anything, both OSB quotes.

But about different things.

 

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[lordsummerisle]

The loan repayment plus interest under state aid rules is not part of the damages claim LS. Two separate things. Somehow don't see SISU being in a mood to compromise if they win the JR suspect the reverse is equally true. Not sure that's a great basis to negotiations. Which I think means this misery is set to continue for sometime yet.

Sorry, thought it related to the same thing, my mistake!

 

[oldskyblue58]

I don't share your optimism about the valuations especially considering the short sightedness of the City board at the time.

maybe not valued by the CCFC board but the Charity would have had to value them in order to get Charity Commission approval

 

[fernandopartridge]

maybe not valued by the CCFC board but the Charity would have had to value them in order to get Charity Commission approval

Did Football Investors hold the CCFC share?

 

[oldskyblue58]

yes fp it was football investors that Higgs bought the share in

 

[wingy]

Was It 50% of what the council were out for ,In cash terms?

 

[shmmeee]

KEY PLAYERS in the bitter Ricoh Arena row have been invited along to an open fan's forum later this month to speak openly and honestly about the on-going dispute.

A three-day judicial review hearing into whether the council unlawfully used taxpayers money to take on a £14.4million loan from stadium owners Arena Coventry Limited (ACL) took place at Birmingham's High Court this week.

It saw the likes of Sisu boss Joy Seppala, Sky Blues chief executive Tim Fisher, ACL director Paul Harris and council director Chris West in a room for the first time since talks between the club and ACL collapsed in early 2013.

And Sky Blues non-executive director, Mark Labovitch, has once again invited all sides, including the likes of Gary Hoffman and Joe Elliot, to attend the forum which is set to take place at the Parish Centre of Christ the King in Coundon on June 27 (7pm).

Labovitch told the Observer, “I hope we can have a full and frank exchange between all of us, without any spin doctors present. We want everyone involved to have a proper conversation with fans.”

Club owners Sisu and the council are both awaiting the verdict of the judicial review which is expected to be made in the week commencing June 30.

At this point it is not understood what impact the outcome will have on the future of the Sky Blues and their chances of returning to the Ricoh.

But Labovitch once again stressed the need for the League One club to gain access to matchday revenue. “No club can ever be financially viable in the long term without an ownership interest in its stadium and access to all the revenues generated by the matches it puts on. If the club was back at the Ricoh as a tenant without access to these revenues, it would go bust again, like it did under its previous owners. The 2003 experiment of separating a club from stadium revenues simply didn’t work.

Those fans who have met Joy have heard first-hand how committed she is to the club’s future. She is determined to make it a success under its outstanding manager, but we can't do that without the long-term financial security of our own stadium. As we’re not allowed any form of ownership of the existing one, we’ll have to build a new one”

And he also hinted that the relationship between the club and the council needs to improve for the good of the city. “Over the past 15 years, the council leadership seems to have had a poor relationship with the club’s owners – past and present. I think that needs to change. Councils in other cities – whether it’s Swansea or Doncaster – know that a successful football club is a huge asset to the local economy.”


I do not think that there is anyone who would disagree that the point about the clubs ownership of part or all of the RICOH and full access to revenue streams generated is the only viable solution. What Mr Labovitch seems to continually and conveniently avoid to state is that this was within SISU's gift to achieve. The problem I and many have is the manner they went about in accomplishing it. That is the thing that has got so many people against them. If they had 50% of the wisdom they have in aggression this situation would not have arisen. I was a SISU supporter at one point, even when they started to mess up the club by selling our best players I felt that there had to be a good reason for their actions. Today after 5 years of a simple war of attrition against the Fans and the City I regret the day they ever came on to the scene.
If Mr Labovitch had any wisdom or decency he would back away and stop this 'Spin'. Silence in this case would be golden.

Cracking post.

 

[Jack Griffin]

And in answer to the question...... Why was it sold for £6.5m?

Originally an agreement was put in place to protect Higgs Charity & CCFC from excessive up or down swings in value of the share.

So now SISU don't want to abide by that agreement (which admittedly they never signed, but was in place when they bought the club) as they believe/have exacerbated there has been a down swing, I betcha £10000000 they'd be screaming from the rooftops if the swing was in the other direction.

 

[James Smith]

Our club SOLD it for 6.5m to Higgs and SISU agreed to pay 5.5m to buy it back.....then went back on their word as usual.

I thought that Sisu had agreed the £5.5m with the Higgs and they didn't go back on their word. It was the way Sisu offered to pay was the sticking point for that offer. The fact that the Higgs weren't keen on only taking a fifth of the money upfront and the rest later on in installments was mentioned in court. After a certain point both Sisu and the Higgs had no appetite for a deal but I don't think that they went back on their word in relation to the Higgs or it's less likely the judge would have called it a draw.

 

[Grendel]

Originally an agreement was put in place to protect Higgs Charity & CCFC from excessive up or down swings in value of the share.

So now SISU don't want to abide by that agreement (which admittedly they never signed, but was in place when they bought the club) as they believe/have exacerbated there has been a down swing, I betcha £10000000 they'd be screaming from the rooftops if the swing was in the other direction.

So would any other owner. Higgs will never get the money back. The value will decline year on year without the club.

 

[sky blue john]

So would any other owner. Higgs will never get the money back. The value will decline year on year without the club.

Your in the Sisu social club Grendel.
How much have they said CCFC will see of the expected compensation ???
I might be inclined to support it they clear the debt with Arvo !!!
But CCFC are not one of the companies involved in the JR !!
My concern is that Arvo Sisu will take the compensation and still leave 50-70 million debt in CCFC !!!!

 

[SkyblueBazza]

Dear Mark,
Best way to remove the spin is to stop paying the spin doctors. That way whatever form of communication you use, your claims will be exposed for the truth/lies that they actually are.


PUSB

 

[mighty quinn]

Why do sisu keep saying they need to own stadium to get revenue streams. They can still do that while leasing a stadium.

 

[Danceswithhorses]

Why do sisu keep saying they need to own stadium to get revenue streams. They can still do that while leasing a stadium.

Because some people will believe that spin

 

[SkyblueBazza]

Why do sisu keep saying they need to own stadium to get revenue streams. They can still do that while leasing a stadium.

Because it opens up a whole new world of tax relief...including depreciation on the accounts whilst the land value at least increases in value. Lease is just a bit of paper where you get nothing back at the end of the lease, & far fewer tax-relief opportunities.


PUSB

 

[Sky Blues]

Have you been writing ML's script Grendel? If not, you might want to sue him for breach of copyright over his last sentence!