here we go... (28 Viewers)
- Thread starter ccfc92
- Start date
skybluetony176
Well-Known Member
Well. They do batter people in court so why not.
Oh wait.
Oh wait.
chiefdave
Well-Known Member
Lets hope for once they bloody win for a change! There is something that seems a little suspect about the sale to me, the way it was kept secret and then all rushed through with pretty much time for anyone to object, the low price, everyone claiming confidentiality. Even the unanimous vote, is there not a single CCFC supporter on the council who thought hang on a minute, if this goes through we're screwed?
SkyBlue_Bear83
Well-Known Member
Based on what grounds though?
covcity4life
Well-Known Member
well done sisu!!!!
corrupt council to be shown up for who they are?
corrupt council to be shown up for who they are?
SkyBlue_Bear83
Well-Known Member
Just read the article
SKY Blues' owners are going to the High Court over Coventry City Council's deal with Wasps for the Ricoh Arena, we can exclusively reveal.We understand papers have been lodged at court today by Sisu, two days before the former London rugby club's first Ricoh game as the stadium's owners.
It is thought to be a legal challenge concerning the latest terms of the council's loan to Ricoh management company Arena Coventry Limited, now fully owned by Wasps.
The action is related to Sisu's outstanding High Court appeal against June's judicial review, which found against the club owner's claim the loan first agreed by the council last year amounted to unlawful "state aid".
The £14.4million loan arrangement approved in private by councillors in January last year partly aimed to prevent insolvency of ACL, then jointly owned by the council and the Alan Edward Higgs Charity.
Sisu is waiting to hear in the new year if the Court of Appeal will hear its appeal, after the judicial review judge ruled the council had acted lawfully to protect its shareholding following Sisu's non-payment of rent, which the club claimed was exorbitant.
Today's High Court action challenges councillors' private decision on October 7 this year to agree a package which included selling its 50 per cent shares in ACL to Wasps.
Although the deal is still shrouded in secrecy, council sources claimed it included an agreement that Wasps would pay back £13.4million of the outstanding loan over 20 years, with the council effectively remaining ACL's bankers.
Wasps now own 100 per cent of the Ricoh after buying the council's and Higgs charity's shares, believed to be for £2.77million each, despite a last ditch rival bid to Higgs from the football club.
It is understood papers were being served today at the High Court Queen's Bench division of the administrative court, separate to the Court of Appeal which would hear Sisu's judicial review appeal.
Sources claim today's action is "litigation related to the judicial review", which could examine whether the publicly unconfirmed terms of the council's loan agreement with Wasps on October 7 amounted to further "State Aid".
The action is being taken by Sisu, parent company to the group of companies which run, and lend to, Coventry City Football Club.
Sources emphasised the club itself was not involved in taking the action, and that it would not adversely affect manager Steven Pressley or the team in any way.
It is claimed today's legal move was not timed to coincide with Wasps' first game, but because of court timescales related to the appeal.
The council, Wasps and Higgs say the terms of the agreements are commercially confidential.
SKY Blues' owners are going to the High Court over Coventry City Council's deal with Wasps for the Ricoh Arena, we can exclusively reveal.We understand papers have been lodged at court today by Sisu, two days before the former London rugby club's first Ricoh game as the stadium's owners.
It is thought to be a legal challenge concerning the latest terms of the council's loan to Ricoh management company Arena Coventry Limited, now fully owned by Wasps.
The action is related to Sisu's outstanding High Court appeal against June's judicial review, which found against the club owner's claim the loan first agreed by the council last year amounted to unlawful "state aid".
The £14.4million loan arrangement approved in private by councillors in January last year partly aimed to prevent insolvency of ACL, then jointly owned by the council and the Alan Edward Higgs Charity.
Sisu is waiting to hear in the new year if the Court of Appeal will hear its appeal, after the judicial review judge ruled the council had acted lawfully to protect its shareholding following Sisu's non-payment of rent, which the club claimed was exorbitant.
Today's High Court action challenges councillors' private decision on October 7 this year to agree a package which included selling its 50 per cent shares in ACL to Wasps.
Although the deal is still shrouded in secrecy, council sources claimed it included an agreement that Wasps would pay back £13.4million of the outstanding loan over 20 years, with the council effectively remaining ACL's bankers.
Wasps now own 100 per cent of the Ricoh after buying the council's and Higgs charity's shares, believed to be for £2.77million each, despite a last ditch rival bid to Higgs from the football club.
It is understood papers were being served today at the High Court Queen's Bench division of the administrative court, separate to the Court of Appeal which would hear Sisu's judicial review appeal.
Sources claim today's action is "litigation related to the judicial review", which could examine whether the publicly unconfirmed terms of the council's loan agreement with Wasps on October 7 amounted to further "State Aid".
The action is being taken by Sisu, parent company to the group of companies which run, and lend to, Coventry City Football Club.
Sources emphasised the club itself was not involved in taking the action, and that it would not adversely affect manager Steven Pressley or the team in any way.
It is claimed today's legal move was not timed to coincide with Wasps' first game, but because of court timescales related to the appeal.
The council, Wasps and Higgs say the terms of the agreements are commercially confidential.
chiefdave
Well-Known Member
Lets hope SISU have a decent case. Quite frankly I don't care what grounds or tactics SISU use to get a win in this if it means Wasps get sent packing and we get a shot at a similar deal.
SkyBlue_Bear83
Well-Known Member
Neither would I to be truthful but I doubt SISU have a case.
skybluetony176
Well-Known Member
Oooo! Another smoking gun to come out in court. Its too exciting for words.
How much is a SISU season ticket for the courts and whats the refreshments like? If the beers warm and in plastic bottles I'm out.
Bill Glazier
Active Member
WTF is wrong with these people? They've claimed for 2 years they're not interested in the place, so why the concern now? They've also now stymied any chance of a decent relationship with Wasps. Absolute gold plated wankers.
skybluetony176
Well-Known Member
David Cardoza must be shitting it. Nothampton Councils loan to NTFC for the ground extention must be next on the illegal state aid polices radar.
Brighton Sky Blue
Well-Known Member
Hamburglar's too late, Fisher's scoffed the lot.
They really are just plain scum ! This is why we haven't heard much from the jumped up pricks for a while !
As anti Wasps as I am and their franchise incursion, SISU actually winning anything in court would likely only ever benefit SISU ! Litigation is all they've ever had and they can't even get a decent win under their belts in their favoured battle ground. This shit will just further make people want to distance themselves from CCFC ! They won't be happy until the club really hasn't got a pulse !
As anti Wasps as I am and their franchise incursion, SISU actually winning anything in court would likely only ever benefit SISU ! Litigation is all they've ever had and they can't even get a decent win under their belts in their favoured battle ground. This shit will just further make people want to distance themselves from CCFC ! They won't be happy until the club really hasn't got a pulse !
Sub
Well-Known Member
Just a complete and utter joke They didn't want the stadium they are building their own stadium that ship has sailed(mr fisher) just complete bullshit. Build your own stadium and stop dragging the once proud name of our club through the mud or sell the club and fuck off out of the city for good!!
SkyBlue_Bear83
Well-Known Member
I'm anti wasps and sick of the cheerleading for them on here but our owners don't half make it easy for some people to turn there back on the football and join the wasps bandwagon.
Moff
Well-Known Member
They have taken a leaf out of Wasps book Tony, first 3500 court spaces free, and full paying adults can take a kid for free, to be bored rigid by petty legal wrangling by people in wigs, whilst the legal fee's just mount up.
They have taken a leaf out of Wasps book Tony, first 3500 court spaces free, and full paying adults can take a kid for free, to be bored rigid by petty legal wrangling by people in wigs, whilst the legal fee's just mount up.
They'll just cut the playing staff costs to cover the legal costs and the club will slide on down a little more every month.
Sky Blue Kid
Well-Known Member
Seriously??? WTF do SISU want ffs? They claim (Well documented) "They are building their own ground" and are "Not interested in the Ricoh" They then offer much less than Wasps offer of "£2.77m" for the Higgs/ACL share IIRC. Yet still claim to be "Turned over" Absolute s**t owners that don't deserve a "Football team" or a "Home ground" as good as the Ricoh. Sepella, Fisher, and Waggot, you're a disgrace to your profession...No, wait a minute...you're deserving of your profession. Wasters, every last one of you!
oldskyblue58
CCFC Finance Director
One thing this action is unlikely to achieve is to force Wasps out.
This SISU action is a new one not actually linked to the original JR case that can only consider things/decisions that happened in January 2013. Decisions taken in October 2014 are entirely separate.
Yes SISU if successful could have remedies against the council but it is unlikely that it would gain the stadium for CCFC. ACL, now under Wasps control, could be required to repay the loan immediately. You might think that would cause a terminal problem but would it. Yorkshire Bank in the middle of recession, with an under performing stadium, and poor financials were willing to refinance ........ who is to say finance could not be arranged for a premiership, high profile club, that now owns a 250 year lease on the place and is well backed.... it might be more expensive in terms of interest but I really do not see any action SISU take as forcing Wasps away.
just as an aside the CCC loan originally was for 40 years to 2053 if the terms have changed to 20 years then that's an improvement. The original loan was 14.4m in January 2013 by October 2014 the debt was 13.4m after quarterly repayments you would expect it to come down over the best part of 2 years wouldn't you?
What it could do however is sour any relationship between the decision makers of the two clubs. You can say CCFC is separate from SISU all you like but the decision maker for both is still the one person. To say it wont affect CCFC is frankly disingenuous
This as usual is all about SISU trying to get a return on investment by any means they can. It is not for the benefit of CCFC but CCFC is a tool to achieve their aims.
As for CCC well looks like more time in court, something they would dearly love to avoid I would think. Some of the actions they have taken in this saga leave questions to answer and to some degree they reap what they sow
Totally exasperated by all this to be honest............. and it will switch more people off the club at a time when it needs everyone it can get.
When will all this legal crap end and we can have OUR club back
This SISU action is a new one not actually linked to the original JR case that can only consider things/decisions that happened in January 2013. Decisions taken in October 2014 are entirely separate.
Yes SISU if successful could have remedies against the council but it is unlikely that it would gain the stadium for CCFC. ACL, now under Wasps control, could be required to repay the loan immediately. You might think that would cause a terminal problem but would it. Yorkshire Bank in the middle of recession, with an under performing stadium, and poor financials were willing to refinance ........ who is to say finance could not be arranged for a premiership, high profile club, that now owns a 250 year lease on the place and is well backed.... it might be more expensive in terms of interest but I really do not see any action SISU take as forcing Wasps away.
just as an aside the CCC loan originally was for 40 years to 2053 if the terms have changed to 20 years then that's an improvement. The original loan was 14.4m in January 2013 by October 2014 the debt was 13.4m after quarterly repayments you would expect it to come down over the best part of 2 years wouldn't you?
What it could do however is sour any relationship between the decision makers of the two clubs. You can say CCFC is separate from SISU all you like but the decision maker for both is still the one person. To say it wont affect CCFC is frankly disingenuous
This as usual is all about SISU trying to get a return on investment by any means they can. It is not for the benefit of CCFC but CCFC is a tool to achieve their aims.
As for CCC well looks like more time in court, something they would dearly love to avoid I would think. Some of the actions they have taken in this saga leave questions to answer and to some degree they reap what they sow
Totally exasperated by all this to be honest............. and it will switch more people off the club at a time when it needs everyone it can get.
When will all this legal crap end and we can have OUR club back
Last edited:
albatross
Well-Known Member
Maybe my smooth brain is not really figuring this out.
SISU tested the legality of a commercial loan of £14.4 from CCC to ACL ( Limited company with two major shareholders) they are then thrown out of Court. now seeking leave to appeal.
SISU are now trying to test the legality of a commercial loan of £13.4m from CCC to ACL (now with a different shareholder structure) with CCC having received a payment of £2.7M.
Mmmmm...
So unless the terms of the loan are substantially different and CCC are not loaning on a commercial basis and receiving a correct return then I am struggling to see what SISU will get out of this.
I would also expect that this precise course of action would have been anticipated by ACL and CCC
SISU tested the legality of a commercial loan of £14.4 from CCC to ACL ( Limited company with two major shareholders) they are then thrown out of Court. now seeking leave to appeal.
SISU are now trying to test the legality of a commercial loan of £13.4m from CCC to ACL (now with a different shareholder structure) with CCC having received a payment of £2.7M.
Mmmmm...
So unless the terms of the loan are substantially different and CCC are not loaning on a commercial basis and receiving a correct return then I am struggling to see what SISU will get out of this.
I would also expect that this precise course of action would have been anticipated by ACL and CCC
Sub
Well-Known Member
Was planning on going up to watch the game with the my kids tomorrow but this has just confirmed why I have stayed away, fuck our owners sick of this shit our owners trying to say it makes no difference to the club ! well yes it does it pisses some of the fans off and that is one of the reasons they are staying away. Our owners are really complete and utterly dumb as fuck when it comes to trying to build bridges with their fans ! Totally dismayed at this really am
CaptainMorgan
New Member
Wasps will be counting down the three years until they can wash their hands of these sad, pathetic losers. Just in time for Joy, Fat Tim and Waggot to cut the ribbon on the shiny new stadium.
SkyBlueSid
Well-Known Member
Sick and tired of this. Why can't they just concentrate on trying to get the football club out of its downward spiral and forget about all this litigation nonsense?
This confirms our decision not to renew next season. But I feel inclined to contact the club and ask for a pro rata refund on this season's. They are just pissing money away on lost causes while we head for Division 4. Cretins!
This confirms our decision not to renew next season. But I feel inclined to contact the club and ask for a pro rata refund on this season's. They are just pissing money away on lost causes while we head for Division 4. Cretins!
Moff
Well-Known Member
I know, and what will it achieve, nothing.
I just dont get it, are they really that dumb, to ostracise the fans, waste millions on failed legal cases, whilst cutting a limited playing budget even more. Seriously when will they realise that football is an entertainmt industry, and force feeding us constant shit will end in disaster.
Silence_Is_The_Enemy
Well-Known Member
so whats really going to happen is wasps are going to stop wanting to work with the football club and sisu will use that as an excuse to move the club again. what has happened to hereford today is were all this shit will end up if you dont know how to run a football club DONT BUY A BASTARD FOOTBALL CLUB
wafw1971
New Member
I agree, perhaps we can get a open letter for all current season ticket holders to sign if they are considering not renewing next year.
SkyBlue_Bear83
Well-Known Member
The telegraph reported that our bid was almost 2.8 million so it wasn't much less than Wasps offer.
SkyBlueSid
Well-Known Member
Wasps are clearly run by smarter people than CCFC. If they have any sense they will react to this latest crap by trying to get the football club out of the Ricoh for good. Frankly, you couldn't blame them if they did.
SkyBlue_Bear83
Well-Known Member
You should go, who knows maybe we will even win.Was planning on going up to watch the game with the my kids tomorrow but this has just confirmed why I have stayed away, fuck our owners sick of this shit our owners trying to say it makes no difference to the club ! well yes it does it pisses some of the fans off and that is one of the reasons they are staying away. Our owners are really complete and utterly dumb as fuck when it comes to trying to build bridges with their fans ! Totally dismayed at this really am
Just remember our loyalty should be to the football club, not the owners.