Coventry City FC's bid for half of Ricoh Arena firm rejected (14 Viewers)

[torchomatic]

Does it matter now, really? The only thing that matters is the future of the club and whether we blame one side or the other that won't change the fact that it looks pretty grim. In years to come when SISU, Lucas et al are no longer around the club will still be in hock to a franchise team with little income and little hope of progressing up the pyramid.

It may be 'Everyone's' fault to an extent but it is massively weighted against SISU when apportioning blame. They need to put the plans for a new stadium up before the end of the year or just get out of town!! Anything else is costing them money! I don't agree that the 'club' being cost neutral means they are not losing money because of this venture.

 

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[Dhinsa's_Millions]

Why would they just cut their losses? If they can run the club near to break even then they will think that if they sit on it that one day things could turn out well. We will just be a small part of their overall portfolio.

What does break even mean though? To the club itself but they have been paying loan interest / fees back to ARVO each year. What happens when these dry up? They will be effectively losing money in another way. Its all smoke and mirrors to me. Its a theory and who would put it past them?

 

[Ian1779]

It may be 'Everyone's' fault to an extent but it is massively weighted against SISU when apportioning blame. They need to put the plans for a new stadium up before the end of the year or just get out of town!! Anything else is costing them money! I don't agree that the 'club' being cost neutral means they are not losing money because of this venture.

Blame for this affair goes way back to the conception of the Ricoh idea if we are being honest.

SISU do have a large portion of responsibility to take, as do CCC, and lots of other people.

 

[rupert_bear]

Nice speech.

Even if we did have "decent" owners in the future, why on earth would Wasps relinquish a 50% stake in the Arena to them? Why wouldn't they want all the pie for themselves?

Who has said Wasps relinquishing 50%, please read posts thoroughly as it can make you look a bit dim regards your reply.
It is called business, happens all the time, not saying it will in this case, but it might. I still maintain had sisu acquired shares I have major doubts any of that would have benefitted the football team just Ms. Sepalla and her investors and you couldn't blame her that's the nature of her business.

 

[oxymoron]

god, imagine if we'd never left HR. what a fucking awful decision

 

[jimmyhillsfanclub]

There is no excuse as to why the stadium can't be built inside the city now.

....no excuses....apart from the truth of the matter....

A lack of will, a lack of funds, a lack of council cooperation, a lack of a suitable site.....

 

[Dhinsa's_Millions]

If you listen to the fundamentalists on here they would have you believe that SISU are in actual fact 'pocketing' millions in cash.

In reality they probably are losing money through the club but they are probably making it up elsewhere on their portfolio.

But wouldn't that just mean it would still be better to get out of the club and make even more money without the burden of CCFC?

 

[Sick Boy]

But wouldn't that just mean it would still be better to get out of the club and make even more money without the burden of CCFC?

....i'm sure that they'd love to get rid of the club but there aren't exactly going to be a lot of people queuing up to buy the club. We have no chance of getting revenue apart from ticket sales, we don't own our own ground and we pay rent money to a franchise rugby club.

 

[mattylad]

But wouldn't that just mean it would still be better to get out of the club and make even more money without the burden of CCFC?

Investors don't take a short term view. If they can get a quick win and move on then of course they will but they are just as likely to sit on an investment for 25 years or more if they feel one day it will make a return.

 

[jimmyhillsfanclub]

....i'm sure that they'd love to get rid of the club but there aren't exactly going to be a lot of people queuing up to buy the club. We have no chance of getting revenue apart from ticket sales, we don't own our own ground and we pay rent money to a franchise rugby club.

.....and we haven't turned a profit for a generation & we're fucking shit.....

Now form an orderly queue folks....

 

[Dhinsa's_Millions]

Blame for this affair goes way back to the conception of the Ricoh idea if we are being honest.

SISU do have a large portion of responsibility to take, as do CCC, and lots of other people.

I would totally agree with this. What I would say is who is actually left in this scenario who can influence the future direction of the club: The only people left will be SISU. So if we want to move forward their actions are the only ones that can sort this whole mess out. They need to either put up the cash for new stadium, on the playing front or leave by liquidation or by selling up! I really can't see them putting more cash in though in any way - that is my personal opinion.

 

[italiahorse]

You need to take a long hard look at what's been going on in the background (nothing whatsoever to do with the owners of CCFC!).

Conspiracy!

Sisu/Ccfc could have been in the same position.as Wasps are now 7 years ago.

Obviously SISU thought no one else would want the Ricoh so could use that fact as leverage to get it for nothing. Makes you wonder why CCC, Higgs, CCFC fans and now Wasps won't deal with Sisu ... Surely ??

 

[mattylad]

Wasps will deal with SISU the whole business plan is set around reaping the profits of CCFC activity as much as it is Wasps activity.

 

[Dhinsa's_Millions]

....i'm sure that they'd love to get rid of the club but there aren't exactly going to be a lot of people queuing up to buy the club. We have no chance of getting revenue apart from ticket sales, we don't own our own ground and we pay rent money to a franchise rugby club.

Yes but what if they just liquidated it. Stopped any future losses and posted these against various other 'projects' they have ongoing. I am not sure of the mechanics but why is this not an option for them? It has been discussed before.

 

[The Lurker]

if only sisu purchased the stadium back in 2007 then we wouldn't be having this discussion now

they wanted to own the ricoh on the cheap and it backfired. the amount of money spent on rent/court cases etc... could have paid for it by now

 

[ccfcway]

I would sack the bloody lot of them if they worked for me.

they would then take you to court for unfair dismissal, then appeal that if it lost, then appeal that with some senior judges

 

[mattylad]

Statement expected later today from CCFC, I don't think it will be good news.

 

[torchomatic]

Or they'd have a secret unminuted meeting.

they would then take you to court for unfair dismissal, then appeal that if it lost, then appeal that with some senior judges

 

[Dhinsa's_Millions]

Investors don't take a short term view. If they can get a quick win and move on then of course they will but they are just as likely to sit on an investment for 25 years or more if they feel one day it will make a return.

Its not a true investment though at the moment its a football club and I think this is where SISU have failed at every turn - you can't just sit on this for years as it will just die. We are flirting with League 2 and the attendances are still plummeting. You will need to invest in CCFC or we will continue to slide.

 

[ccfcway]

Or they'd have a secret unminuted meeting.

and sell the company car to some dealer in london

 

[letsallsingtogether]

RFC, I wish that you would stop this "I could tell you more but I won't" claptrap. If you have something to say, bloody well say it. If you haven't anything to say, stop pretending that you have.

Well said we all know what has been going on in the back ground???

Nothing positive just law suit after law suit and some still see them as the good guys.

Shocking absolutely Shocking....

 

[Sick Boy]

if only sisu purchased the stadium back in 2007 then we wouldn't be having this discussion now

they wanted to own the ricoh on the cheap and it backfired. the amount of money spent on rent/court cases etc... could have paid for it by now

Ranson didn't think it was worth it.

Besides, i'm sure there would have been outrage if sisu, a hedge fund, had acquired the stadium. There's been few complaints about Wasps owning the ground because their owners are honest and saints and they are owned by a hedg....oops.

 

[mattylad]

Its not a true investment though at the moment its a football club and I think this is where SISU have failed at every turn - you can't just sit on this for years as it will just die. We are flirting with League 2 and the attendances are still plummeting. You will need to invest in CCFC or we will continue to slide.

They can just sit on it and they will or they will just close up shop and write the debt off.

 

[letsallsingtogether]

Or they'd have a secret unminuted meeting.

Or minuted to suit there argument.........

 

[Ian1779]

Sisu/Ccfc could have been in the same position.as Wasps are now 7 years ago.

I don't think 7 years ago the deal that Wasps got was ever on the table....

 

[covcity4life]

scumbag acl

 

[Dhinsa's_Millions]

They can just sit on it and they will or they will just close up shop and write the debt off.

Yes I think so, they are the 2 options. 'Selling' would only mean transferring the debt to new owners but that must come at a cost to SISU and it may be that liquidation suits them more?

 

[hill83]

Well I won't say it's been a pleasure because it hasn't. But isn't that us pretty much fucked now then?

 

[letsallsingtogether]

Ranson didn't think it was worth it.

Besides, i'm sure there would have been outrage if sisu, a hedge fund, had acquired the stadium. There's been few complaints about Wasps owning the ground because their owners are honest and saints and they are owned by a hedg....oops.

ointlaugh:ointlaugh:

You said it all THEY Never thought it was worth it until it was too late.
And still you think the sun shines out of their arse..........

 

[Sick Boy]

Well I won't say it's been a pleasure because it hasn't. But isn't that us pretty much fucked now then?

Yep, some will even be celebrating the council's victory.

 

[Sick Boy]

ointlaugh:ointlaugh:

You said it all THEY Never thought it was worth it until it was too late.
And still you think the sun shines out of their arse..........

As i've said time and time again, I think sisu are and have always been dreadful owners. I don't only see things in black and white like you.

It's funny that those who are the most anti-sisu were the ones shouting down anyone who dared to criticise Ranson.

 

[hill83]

Yep, some will even be celebrating the council's victory.

Leave them to it.

 

[AndreasB]

Hopefully we will be given a more detailed reasoning as to why the bid was rejected.

It would be interesting to know what the content of both bids were but unlikely we will be told. In particular I would be interested to see the conditions and legal demands included in the bid relayed by Appleton and of course the difference between the two bids.

Ownership of part of ACL is gone, not what I wanted to see but it is where we are. We as a club now have to move forward, no more of this uncertainty, blame game and legal shenanigans. We build our club up from here, or we sit around wringing our hands blaming all and sundry.

If that's a new ground so be it (I still don't see it, but if that's the choice then CCFC fans must and will have to support it). If they are going to build there is no real reason the land purchase can not be completed and the site made public. There after they must put forward a business plan that convinces the fans it will work. They will need to get the fans on board with it, no more silly secrecy games. Proper inclusion and partnership not lip service through things like the SCG

If the solution is to stay at the Ricoh then CCFC need to develop long term partnerships with ACL and its new owners, then to commit to it. That word partnership again. This club needs stability and certainty. There are income streams that the club can acquire an interest in at the Ricoh, they could even put on their own events etc, the club could commit to a longer lease/licence at the stadium with rights to certain incomes built in etc.

There are options but more than ever the owners of CCFC have to secure a clear way forward for the club, one that is stable and commit to it. One that is focussed and solely about CCFC

Decision time.

New ground then?


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[CCFC_Charlie]

It's grim that some people hate SISU so much that they're glad to see the club completely fucked over yet again purely because it's another loss for SISU. This club is going nowhere under SISU but with the glass ceiling of Wasps owning 100% of the Ricoh now hanging over us we're pretty much screwed for the future. Cheers CCC, ACL, Higgs, SISU and Wasps.

 

[torchomatic]

Can't see what else we can do. We're not going to get anywhere whilst we are at the Ricoh. Hopefully, that avenue will start gathering pace.

New ground then?


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