Higgs reason for sale to Wasps false pretences? (1 Viewer)

[lordsummerisle]

Seems Higgs for many years were saying that whoever was top buy their share of ACL would have to be willing to redevelop the rest of the area too(Though never realised why it should be the job of the football club to do that). and stated this as a reason for selling their share to Wasps.

The Alan Edward Higgs Charity have explained why they chose to sell their 50 per cent share in Ricoh Arena operating firm ACL to Wasps rugby club rather than Coventry City’s owners Sisu.

ACL, following a period of restructuring both of its debt and its business, is now fully profitable but at the point where new investment is required to finance the next expansion onto Car Park C and on the adjacent leisure land.“The sale of their shares by the Trustees will enable this continuation of the regeneration of north east Coventry.

Yet Derek Richardson says:

He said: "I’m not a property developer, I’ve never developed anything in my life.

"I’ve never thought of this as something I might make profit from.

So was it Wasps or Higgs being disingenuous?

 

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[jimmyhillsfanclub]

My personal guess.....Both.

PS: That last line of the quote from Richardson cracks me up.......go on Del boy...pull the other one...its got fucking bells on it....

 

[Nick]

[video=youtube;UffnOGGWXzQ]https://www.youtube.com/watch?v=UffnOGGWXzQ[/video]

Says on here a few times about redevelopment too.

 

[fernandopartridge]

Indeed. I said this on gmk yesterday.

Where is the wider regeneration that CCC like to throw into their comments?

 

[Nick]

This is the stuff journalists could be asking isn't it?

 

[lordsummerisle]

PWKH said it on here a few times as well, going back sometime,well before(supposedly) Wasps involvement.

 

[jimmyhillsfanclub]

This is the stuff journalists SHOULD be asking isn't it?

Corrected that for you Nick....

 

[Nick]

Corrected that for you Nick....

Exactly, if somebody says "The sky is green", it should be "Are you sure it isnt blue, just look outside". Rather than just printing "so and so said the sky is green".

If he is saying he won't develop, ask him about it being part of the terms of higgs selling apparently, then ask PWKH.

 

[Grendel]

I think this will be a very quite thread in which very few of our council loving colleagues participate.

More egg splattered on their faces.

 

[fernandopartridge]

But what about the new stadium. Calling the whistling idiot or Obtuse to the thread.

 

[Nick]

But Nick gave me a sandwich and a plastic flag, no way on earth they could do something like that.

 

[jimmyhillsfanclub]

While we're on the subject of things journalists should be investigating, I'd love to read an interview with David Allvey (Ex head of ACL) to get some background on him "sounding out" W*sps about a potential move to the ricoh way back in 2010/11 just in case City left the stadium.....

seems to me that this always appear to be glossed over as either pure coincidence or not relevant because Derek Del boy Richardson had yet to arrive at W*sps.......

It'd be nice to hear it from him though wouldn't it???

 

[Nick]

While we're on the subject of things journalists should be investigating, I'd love to read an interview with David Allvey (Ex head of ACL) to get some background on him "sounding out" W*sps about a potential move to the ricoh way back in 2010/11 just in case City left the stadium.....

seems to me that this always appear to be glossed over as either pure coincidence or not relevant because Derek Del boy Richardson had yet to arrive at W*sps.......

It'd be nice to hear it from him though wouldn't it???

Have you got a link to that or anything?

 

[italiahorse]

Surely once the Ricoh's future looks secure then businesses, other than the club(s), will look at the area as a potential development?
We know there are several developments that have planning permission but I guess not been pursued because of the uncertainty.
I'm sure several small businesses like pubs, clubs etc will have projects in mind once the Ricoh is busy and it's future looks secure.
Rowleys Green Club needs developing etc etc

Mark my words, once Wasps get established people will start to think about taking the risk.

 

[jimmyhillsfanclub]

Have you got a link to that or anything?

Just this old chestnut Nick.

http://www.coventrytelegraph.net/news/red-button-ricoh-arena-chairman-5431948

 

[Nick]

Surely once the Ricoh's future looks secure then businesses, other than the club(s), will look at the area as a potential development?
We know there are several developments that have planning permission but I guess not been pursued because of the uncertainty.
I'm sure several small businesses like pubs, clubs etc will have projects in mind once the Ricoh is busy and it's future looks secure.
Rowleys Green Club needs developing etc etc

Mark my words, once Wasps get established people will start to think about taking the risk.

I thought the Ricoh's future was secure? It was doing well? They would have done the same if the club owned it so why was it a must the club signed up to developing it?

I think you have totally missed the point.

 

[fernandopartridge]

Surely once the Ricoh's future looks secure then businesses, other than the club(s), will look at the area as a potential development?
We know there are several developments that have planning permission but I guess not been pursued because of the uncertainty.
I'm sure several small businesses like pubs, clubs etc will have projects in mind once the Ricoh is busy and it's future looks secure.
Rowleys Green Club needs developing etc etc

Mark my words, once Wasps get established people will start to think about taking the risk.

There isn't demand for a hotel, hotel operators can't rely on having a Rugby match every other week.

 

[Rusty Trombone]

I think this is the quote from The Times, he isn't talking about the land as the property asset, he's talking about Wasps. So either he's said exactly the same answer to the Cov Telegraph about the land as well, or the Telegraph have reported out of context.

"I mention that some Wasps fans believe he bought their club solely to acquire an undervalued property asset. “I’m not a property developer, I’ve never developed anything in my life".

 

[RPHunt]

Where has Derek Richardson said that the surrounding area isn't going to be developed?

This is the entire conversation (with David Walsh) from the Times article:

I mention that some Wasps fans believe he bought their club solely to acquire an undervalued property asset. “I’m not a property developer, I’ve never developed anything in my life.

“I’ve never thought of this as something I might make a profit from. We’ve got the chance to build something great here, making Wasps the best club in Europe, and I’m really looking forward to standing back and seeing what we’ve got in five or seven years.”

What part of that says there will be no development?

 

[Broken Hearted Sky Blue]

But what about the new stadium. Calling the whistling idiot or Obtuse to the thread.

Another fantastic post from Mr Incognito mind you there's a lot on here.


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[italiahorse]

I thought the Ricoh's future was secure? It was doing well? They would have done the same if the club owned it so why was it a must the club signed up to developing it?

I think you have totally missed the point.

How was it secure and doing well ? It was just ticking over.
You seem to pick up on anyone's comments and make it out as mainstream.

 

[Broken Hearted Sky Blue]

I think this will be a very quite thread in which very few of our council loving colleagues participate.

More egg splattered on their faces.

Why's that Grendel except for a few people on here nobody else cares.


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[Nick]

How was it secure and doing well ? It was just ticking over.
You seem to pick up on anyone's comments and make it out as mainstream.

It was going from strength to strength wasn't it?

 

[Godiva]

Seems Higgs for many years were saying that whoever was top buy their share of ACL would have to be willing to redevelop the rest of the area too(Though never realised why it should be the job of the football club to do that). and stated this as a reason for selling their share to Wasps.

ACL, following a period of restructuring both of its debt and its business, is now fully profitable but at the point where new investment is required to finance the next expansion onto Car Park C and on the adjacent leisure land.“The sale of their shares by the Trustees will enable this continuation of the regeneration of north east Coventry.

Wasn't Car Park C handed over to CCC as part of the bail-out?

 

[Nick]

Why's that Grendel except for a few people on here nobody else cares.


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Nah they only care about hating SISU it seems rather than the full picture of why they are all bellends.

 

[Jack Griffin]

I reckon they just wanted out of this shit & took the hit.

So effectively SISU managed to drive a local charity out of their support for local sports as Higgs have now said they're focusing on the arts.

 

[italiahorse]

There isn't demand for a hotel, hotel operators can't rely on having a Rugby match every other week.

People must have seen demand at one time for hotels because they went to the time and expense of putting planning permissions in.
Maybe they were ready for when operation premiership was complete
Obviously they got cold feet in the last few years.
I know the car showroom in Judds Lane is on hold at the moment.

 

[Broken Hearted Sky Blue]

Nick we are down to 7 or 8000 fans who the fuck is responsible for that? May not be due to hating Sisu but due to them


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[italiahorse]

It was going from strength to strength wasn't it?

Really ?
I would say it was treading water.

 

[Grendel]

Really ?
I would say it was treading water.

Why when. 90% of revenue was non football rated.

 

[skybluetony176]

There isn't demand for a hotel, hotel yoperators can't rely on having a Rugby match every other week.

Its not just about Rugby or football though is it. Look at the road and curently being developed rail link. The whole area is prime for development as a gateway into Coventry.

 

[Astute]

But what about the new stadium. Calling the whistling idiot or Obtuse to the thread.

So Tim says that he isn't unhappy about not getting the Ricoh and you are still looking for someone else to blame for everything that has happened. What you do most of the time is make out that someone has said something that they haven't by twisting their words whilst saying that you don't have to say anything against SISU as you have said in the past that they have been bad for our club. Yeah right.

Keep up with your veiled insults. Keep up with blaming everyone but SISU if it keeps you happy. Most of us know what has caused all of this shit. SISU didn't start it all. But they are the ones that have lost us the Ricoh with their underhand tactics. Yes CCC have fucked our clubs future up. But they are not the ones to blame for everything.

 

[Astute]

Why when. 90% of revenue was non football rated.

So you think that a big income means a big profit?

 

[lordsummerisle]

Where has Derek Richardson said that the surrounding area isn't going to be developed?

This is the entire conversation (with David Walsh) from the Times article:

I mention that some Wasps fans believe he bought their club solely to acquire an undervalued property asset. “I’m not a property developer, I’ve never developed anything in my life.
?

That bit might suggest it perhaps?

 

[fernandopartridge]

Its not just about Rugby or football though is it. Look at the road and curently being developed rail link. The whole area is prime for development as a gateway into Coventry.

The railway is a branch line. It's not a gateway into Coventry. The Novotel nearby is rarely full.

The arena currently has events on a regular basis. Are there going to be even more now it's Wasps home?