Council could vote on Ricoh takeover as early as Tuesday (26 Viewers)

[jimmyhillsfanclub]

Who cares about them???

The most important thing is that SISU won't be able to buy the Ricoh. We'll still be tenants so not affected.

Un-fucking-believable....

I despair sometimes.....I really do.

 

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[Otis]

You've just defined perfectly why we should all support this deal. Selling the club and the ground as a package is exactly what SISU want to do (hence why they tried to distress ACL to get the ground cheaply) - hence why we must oppose it. We also want SISU to pay as a high a price as possible for the Ricoh - again, because getting it cheaply is their objective.

At the expense of the club?

Think some are losing focus here. Surely the number one priority for us all is to secure the future of Coventry City FC. I don't care about Sisu, I care about my club. Seems like some people want Sisu out whatever the cost and that could prove disastrous for CCFC.

I want the club to have the Ricoh. If that means under Sisu, then so be it, though I would want ACL/CCC to make sure the deal had some sort of protection built in to secure the future for the city of Coventry and it's citizens.

 

[stupot07]

Which as we know would be a bargain in the Premiership.
Unfortunately previous management (and Sisu) took the gamble on a fixed rental as they thought 'Operation Premiership' would work.
Sisu should have renegotiated this as a condition of taking over but we have done this to death.

£1.3m would still have been too high in the Premiership.


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[spider_ricoh]

At the expense of the club?

Think some are losing focus here. Surely the number one priority for us all is to secure the futures of Coventry City FC. I don't care about Sisu, I care about my club. Seems like some people want Sisu out whatever the cost and that could prove disastrous for CCFC.

I want the club to have the Ricoh. If that means under Sisu, then so be it, though I would want ACL/CCC to make sure the deal had some sort of protection built in to secure the future for the city of Coventry and it's citizens.

Wrong - anything bad for SISU is good for CCFC, and vice versa. That's why I'll support anything that makes life harder for them to stay. I won't support the club at any stadium other than the Ricoh and I certainly don't want to see SISU buying the Ricoh.

 

[Otis]

£1.3m would still have been too high in the Premiership.


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The 1.3m was certainly a part of this whole sorry mess and set the wheels in motion to it's almost inevitable conclusion.

 

[spider_ricoh]

Thanks for the input, but the adults are here now and we're trying to have a debate. You can play Minecraft if you want. Cheers.

Never heard of it....what's your solution for getting rid of SISU?

 

[Otis]

Wrong - anything bad for SISU is good for CCFC, and vice versa. That's why I'll support anything that makes life harder for them to stay. I won't support the club at any stadium other than the Ricoh and I certainly don't want to see SISU buying the Ricoh.

Don't know what it is you're smoking, but you need to change your supplier.

 

[Rusty Trombone]

£1.3m would still have been too high in the Premiership.


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And of course under the original deal the club would have got half of the rent back as we owned half of the management company. This argument isn't relevant to this thread though is it.

 

[covmark]

You've just defined perfectly why we should all support this deal. Selling the club and the ground as a package is exactly what SISU want to do (hence why they tried to distress ACL to get the ground cheaply) - hence why we must oppose it. We also want SISU to pay as a high a price as possible for the Ricoh - again, because getting it cheaply is their objective.

I can't believe what I read on here sometimes. Support a bunch of egg chasers controlling our stadium, you are fucking mental.

 

[spider_ricoh]

The 1.3m was certainly a part of this whole sorry mess and set the wheels in motion to it's almost inevitable conclusion.

Another ridiculous comment... it was based on the £31m the council have to plough into the project to allow us to have a home ground. No private investor would touch us - funnily enough I didn't hear any objections about state aid back then....

£1.3m p/a to pay back £31m, plus inflation, is hardly a high-yield deal for the lenders is it?

But of course, it's up toe the council to pay for CCFC to have a ground, so of course even this is unreasonable...

 

[Rusty Trombone]

Never heard of it....what's your solution for getting rid of SISU?

You can't get rid of them, they will leave when their investors decide they have lost enough money.

 

[spider_ricoh]

I can't believe what I read on here sometimes. Support a bunch of egg chasers controlling our stadium, you are fucking mental.

"Our stadium" - that stadium we didn't pay for, don't own, and which we unilaterally ripped up our anchor tenancy agreement?

 

[covmark]

Wrong - anything bad for SISU is good for CCFC, and vice versa. That's why I'll support anything that makes life harder for them to stay. I won't support the club at any stadium other than the Ricoh and I certainly don't want to see SISU buying the Ricoh.

Now you really are talking out of your arse. You must be on a wind up?

 

[covmark]

"Our stadium" - that stadium we didn't pay for, don't own, and which we unilaterally ripped up our anchor tenancy agreement?

What was the original purpose of the stadium?

 

[Rusty Trombone]

"Our stadium" - that stadium we didn't pay for, don't own, and which we unilaterally ripped up our anchor tenancy agreement?

Ending the old agreement was good for the club wasn't it?

 

[sky_blue_up_north]

I thought Ann Lucas said they could not sell the Ricoh freehold some time back, so what are Wasps buying, a long term lease hold?

 

[Rusty Trombone]

I thought Ann Lucas said they could not sell the Ricoh freehold some time back, so what are Wasps buying, a long term lease hold?

That's the rumour.

 

[fernandopartridge]

Agreed fp ........ we don't actually know do we ............. but the CT article implies it is approving it to be sold next week.

Seems a bit quick. Presume full due diligence has been carried out. Wonder if it will remain private post sale?

 

[spider_ricoh]

Now you really are talking out of your arse. You must be on a wind up?

nope

 

[spider_ricoh]

Ending the old agreement was good for the club wasn't it?

no, unless you enjoyed your seat at Sixfields.

 

[sky blue john]

I thought Ann Lucas said they could not sell the Ricoh freehold some time back, so what are Wasps buying, a long term lease hold?

90% of Acl being sold.

 

[AndreasB]

What's your way forward on this?
CCFC are building a new stadium and ACL need an anchor tenant.

I won't hold my breathe ....................

I wish you would.


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[fernandopartridge]

Another ridiculous comment... it was based on the £31m the council have to plough into the project to allow us to have a home ground. No private investor would touch us - funnily enough I didn't hear any objections about state aid back then....

£1.3m p/a to pay back £31m, plus inflation, is hardly a high-yield deal for the lenders is it?

But of course, it's up toe the council to pay for CCFC to have a ground, so of course even this is unreasonable...

£31m? Can you break that down?

You'd think the council would want to show that they got an absolute return on investment surely?

Will they get the 'small profit' on the repayment of the ACL loan?

Will they get full repayment of the loan plus the value of their 40% plus profit?

 

[bezzer]

I thought Ann Lucas said they could not sell the Ricoh freehold some time back, so what are Wasps buying, a long term lease hold?

She's a politician, I'd take everything she says with a pinch of salt.

 

[Rusty Trombone]

no, unless you enjoyed your seat at Sixfields.

Do I win a prize? I've found the one person who thinks the old deal was better for the club.

 

[lordsummerisle]

Hope that Brighton Podcast guy isn't lurking still, he'd be absolutely pissing himself.

 

[BackRoomRummermill]

Spider Ricoh

Are you an ACL plant or plank?

What was the Ricoh as a stadium built around ( um the football pitch is a clue here ) and for who as the main tenant to use ( another clue the city of coventry)........................

 

[spider_ricoh]

Do I win a prize? I've found the one person who thinks the old deal was better for the club.

Right or wrong, SISU acted unethically in ripping up the lease. In any case, I'd rather have the old lease and not played at Sixfields for a year.

 

[fernandopartridge]

Hope that Brighton Podcast guy isn't lurking still, he'd be absolutely pissing himself.

Spider is like Derek Hatton.

 

[jimmyhillsfanclub]

Hope that Brighton Podcast guy isn't lurking still, he'd be absolutely pissing himself.

I nearly pissed myself at the Withdean years ago when watching Peter Reids City side struggle to a 0-0 on a sunny day....

Not in reaction to the way we played...but in reaction to necking 4 pints of kronenberg in 30 mins before KO......just thought I'd mention it...

 

[stupot07]

Another ridiculous comment... it was based on the £31m the council have to plough into the project to allow us to have a home ground. No private investor would touch us - funnily enough I didn't hear any objections about state aid back then....

£1.3m p/a to pay back £31m, plus inflation, is hardly a high-yield deal for the lenders is it?

But of course, it's up toe the council to pay for CCFC to have a ground, so of course even this is unreasonable...

£21m which was paid back by ACL when they took the £21m and paid the 50 year lease up front.


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[Kingokings204]

Trouble is we don't know how this involves ccfc. Can we buy into it? Can westill rent? Can we still play in the Ricoh? What happens after 2 or 4 years?

Many questions still unanswered.

 

[Jack Griffin]

Seems a bit quick. Presume full due diligence has been carried out. Wonder if it will remain private post sale?

For the nth time, don't expect anything definite to happen till the JR mess is resolved. With luck that will be over by the end of the month..

£31m? Can you break that down?

£10M council grant, I do not think there is any expectation of repayment, like the £10M grans from AWM & another development fund.
£21M loan to make up shortfall in Arena build costs, reduced now to £14.4M(ish).. this is all on ACL, what stupot says is disingenuous, this is still effectively being paid back.

 

[chiefdave]

it's all about SISU leaving. That's the most important outcome we can hope for.

So your main objective is to get SISU to leave. But you then say

Selling the club and the ground as a package is exactly what SISU want to do

but

We also want SISU to pay as a high a price as possible for the Ricoh

and

All I care abotu is stopping SISU getting the Ricoh

To sum up you want SISU to go, say if SISU owned the ground and the club they would sell both but they should pay as high a price as possible and under no circumstances should they be sold the ground. That all seems to make sense :facepalm:

 

[italiahorse]

Trouble is we don't know how this involves ccfc. Can we buy into it? Can westill rent? Can we still play in the Ricoh? What happens after 2 or 4 years?

Many questions still unanswered.

The new stadium will have been built ? :thinking about: