Brighton Sky Blue
Well-Known Member
Touchy. You're right, I have no business aptitude when a High Court judge delivers a verdict on SISU's actions that I was stating for months and months beforehand.
What is this, the playground?
Delusion? (1 Viewer)
- Thread starter MichaelCCFC
- Start date
Touchy. You're right, I have no business aptitude when a High Court judge delivers a verdict on SISU's actions that I was stating for months and months beforehand.
What is this, the playground?
stupot07
Well-Known Member
So no examples? Wasps will only be receptive to what ultimately makes them money.
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Brighton Sky Blue
Well-Known Member
I would have seen the club being sold pretty soon after. Having the Ricoh on the balance sheet makes the club as a whole a more attractive package than without it. All part of the exit strategy.
Brighton Sky Blue
Well-Known Member
SISU want shot of the club but they want to minimise the loss. So having a ground on your balance sheet makes up in part for you also selling a crap League 1 team. It drives up the club's valuation and makes bidders take a bit more notice.
No businessman except someone with the wealth of the Thais at Leicester or the Sheikh at Man City uses football as anything other than a profit making exercise. Maybe you could 'get over it' too.
chiefdave
Well-Known Member
Wouldn't an appeal take it out of the councils hands?
Brighton Sky Blue
Well-Known Member
I thought the council didn't make decisions out of spite?
chiefdave
Well-Known Member
I think if SISU put in an application to build a stadium in the city it would be up to us to get behind them and put pressure on the council to give it the green light. The council may want to reject it out of spite but the more pressure on them to accept the better. If they did then reject it they would have to give reasons, if it was seen to be a valid reason fair enough, if it wasn't seen that way they would struggle to justify the decision.
But lets assume they would reject it out of spite, which they may well do, the question is would any appeal go over their heads?
Senior Vick from Alicante
Well-Known Member
But they haven't. And why? Its because they were trying to get everything on the cheap from a council and a charity by distressing a business instead of paying the going rate. Sisu would not have been able to purchase anything if the charity and council had not stepped up to the plate in the first place. That said if they had got the Ricoh their is no guarantee that this would have been their exit strategy, Many people think that the club was bought to buy the arena and surrounding land not for the fact that it was a football club. It could have been an ice cream van for what it matters, it was just a means to buy the Ricoh and development land that was always the real carrot. These people are clueless, the club will be jettisoned when their business strategy has run its course, the fact that they no longer have the chance to buy the Ricoh will only speed this up.
Senior Vick from Alicante
Well-Known Member
The Council would have to follow Government guidelines for the building of any new stadia. It is dependant on infrastructure, regeneration and lots of other factors, SPITE can not come into it. Sisu would have to prove all these things in any application, though we all know this is Timothys personal wet dream and has as much chance of happening as Nick Clegg being the next Prime minister.
skybluefred
New Member
I don't know any fan who told our scum owners that they would return in force if we came back to the Ricoh. What the clueless owners need to do
is spend some decent money instead of relying on other teams cast off's, that way we might actually have a team who are a credit to the City
and are worthy of our support. NOPM is a brilliant way of getting across the huge majority's opinion of the way our Club is being destroyed.
Brighton Sky Blue
Well-Known Member
If any appeal didn't go over their heads the appeals process would make no sense.
Astute
Well-Known Member
Not a bad guess. But that is all it is. A guess.
Did they ever seriously try to buy the Ricoh? Why did it become all about the freehold? If they would have got the freehold with all the surrounding land as they said they wanted would they have let it go with our football club or would they have just offloaded our football club cheaply whilst keeping the Ricoh, rental income, 365 income from the arena and sell the surrounding land?
All we can do is guess what they had planned.......that is if they had anything planned. Just like they don't seem to have any plans now.
bigfatronssba
Well-Known Member
Seriously?
The Council cannot reject a legitimate planning application.
Because of that it is actually possible in theory to get a stadium built within Coventry.
A stadium will never be built "In the Coventry area" because of the greenbelt.
So its either Coventry or at least 10 miles ish away.
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Senior Vick from Alicante
Well-Known Member
Question for me Astute is have they ever had the money? Every one on here could have bought the club for a pound, accounts can always be manipulated to show a strong trading position or the opposite for that matter. I don't think SISU have ever had physical cash and the wear withal to be able to make the purchase.
Bennets Afro
Well-Known Member
If SISU could sell a team that was only renting a stadium they would of done so by now and got out of town, so what makes you think of they owned ACL this would be possible?
Astute
Well-Known Member
Good question.
SISU invest other peoples money. Are all the funds that Joy looks after held together or are there separate pots depending on investment types? Has Joy made money on other investments whilst losing money on CCFC? Has she lost investors since losing on CCFC? Is the pot nearly dry? There are so many possibilities.
I would guess that at first the gamble was taken to get us back into the Prem. That would have made them a massive amount of money. Once they failed after losing a lot of money there wasn't enough to pay a large amount for the Ricoh. So then it was decided to get it as cheaply as they could. And this has led us to where we are now. But I have as much chance as being wrong as anyone else
skybluetony176
Well-Known Member
Perhaps we need to change our style then because none of the pitches we've played on this season have suited our style. Home or away.
Astute
Well-Known Member
They could have sold us for a quid and kept the arena if they had managed to have got the freehold. Now they would get a quid and lose out on everything they have lost on our club. Quite simple really.
Wasps tried that line in Wycombe - demonstrations, protests etc. and no planning permission - that is exactly why they are here. Do you think Cov would be any different? We have enough trouble trying to utilise the Ricoh - that's why Wasps need CCFC.
Brighton Sky Blue
Well-Known Member
No point in selling the club without the ground as then they would be no better off than just selling it under ACL's tenancy. Club + stadium= good package for an investor.
er...that's what I just said. They do have to listen to the residents when a planning application is there.
Second club to exsisting stadium owner....? Club then has ground. Investor has club.
stupot07
Well-Known Member
Not this again......wasps will not be buying the club.
People need to forget this idea.
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The residents would object and the council would be justified in rejecting it - as happened in Wycombe. We have a stadium and it cost a lot of time and money to get it approved - with council support and HR being sold off to developers ( a stadium to replace a stadium and not a second stadium ). We wouldnt get council support after the last episode.
Bennets Afro
Well-Known Member
Who would buy the club tho without a stadium?
skybluetony176
Well-Known Member
Noyt this again......wasps will not be buying the club.
People need to forget this idea.
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Anyone remember the "SISU are the only show in town" line?
I aint saying its going to happen but if they can pick up CCFC up for the right price why wouldn't they?
Bennets Afro
Well-Known Member
What do you think that price would be and who could afford it. I think £20m would get rid of SISU, but who would pay it?
Brighton Sky Blue
Well-Known Member
Which would be marvellous except that a) SISU will want a chunk of that £50m back and b) Derek Richardson has a sneaky tendency to relocate clubs at a whim.
dongonzalos
Well-Known Member
How are SISU going to get a chunk of that 50 million back now.
I can't see it by adding 25 million onto it?
I can't see it by adding 25 million onto it?
dongonzalos
Well-Known Member
Not this again......wasps will not be buying the club.
People need to forget this idea.
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I think you would need to be the owner of wasps to make that statement
skybluetony176
Well-Known Member
Who knows. One thing we can say for sure is that they are better negotiators than SISU so it wont be on SISU's terms.
D
Deleted member 5849
Guest
Not really, SISU managed to return their club to its home area, Wasps didn't. Therefore Wasps are worse negotiators.
stupot07
Well-Known Member
Because of the massive financial risks.
1) wasps losing £3m per annum, massive risk and uncertainty over whether they can attract and sustain a new fan base.
2) ACL currently doesn't make enough profit to cover wasps losses, and in all probably won't for a couple of years
3) the financial risk of football clubs, football clubs lose money, if they took us over expectations would be high, we'd expect championship football at least. In the championship we'd be losing £6-8m per annum to just be a lower midtable side
4) if they bought the club then ACL's small profits would be further diluted as they would be going into both the rugby and football operations, I imagine the owner would be having to foot a bill of £6-8m per annum across the 2 clubs.
It's far too much risk, wasps have been clear that derek richardson's money was about to run out, they were about to be insolvent, they have had to canvass for investment to be able to purchase the Ricoh. There is no more money.
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Brighton Sky Blue
Well-Known Member
That is the golden question however the answer almost certainly is not by renting from Wasps with no access to the money they generate on a matchday.