It was agreed in the first place by both sides - after the council had stepped in to Save the project. The New Stadium was CCFCs idea. Then they screwed up.
Would You Still Go ? (8 Viewers)
- Thread starter bringbackrattles
- Start date
It was agreed in the first place by both sides - after the council had stepped in to Save the project. The New Stadium was CCFCs idea. Then they screwed up.
Nick
Administrator
Did ccfc have much choice?
I'm just going to find a homeless.bloke, make out I'm a savior but I'm charging him silly amounts of rent for helping him, I'm also taking all his wages from the job I helped him get...
Oaps agree to buying 5k burglar alarms that cost 300 quid, that ok too? I'd agree to hand over my wallet if somebody had a gun to my head, that fault too?
torchomatic
Well-Known Member
albatross
Well-Known Member
But we had a home, Highfield Road. The club chose to sell it , lease it back and start the RICOH project which they then in turn could not fund.
Every other business would have been left to their own devices but due to CCFC's place in the fabric of the city CCC and Higgs stepped in.
We made ourselves homeless, Twice Now by my reckoning
Every other business would have been left to their own devices but due to CCFC's place in the fabric of the city CCC and Higgs stepped in.
We made ourselves homeless, Twice Now by my reckoning
torchomatic
Well-Known Member
We've learnt a hard lesson, be thankful for what you've got. We had Highfield Road and should have stayed there.
Nick
Administrator
Yes, the previous regime have a big part to pay in it too. Such is what I mean when People go on about it being 100% sisus fault etc etc.
Rusty Trombone
Well-Known Member
First of all though set up a company and gift him 50% of it so that he can benefit from all the revenues earned from his brand new home, including the silly amounts of rent.
Hopefully he won't do something short sighted, like sell it.
Nick
Administrator
He probably will need to sell it to afford the rent though....
Rusty Trombone
Well-Known Member
If the silly rent was only 10% of his costs, then it would probably be better if he cut down on something else in the first instance.
albatross
Well-Known Member
No. SISU are the architect of our current position. No matter the mismanagement of past regimes they knew all that when they took it on. Had much if not all of the Debt written off. All shares handed over. Guarantees for payment of Rent included from the previous directors.
Oh and 7 years to put a plan in place.
Rusty Trombone
Well-Known Member
Are people really trying to justify that the rent wasn't far too high? You couldn't make it up...
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
No I don't think anyone is, so maybe you have just made it up.
torchomatic
Well-Known Member
My thoughts exactly. Despite the whys and wherefores fans of the club should be outraged that we were ripped off by ACL and CCC. They should be outraged at Richardson for selling our home of 100+ years. They should be outraged that the custodians of the club signed up to such as constricting and ultimately destructive rental agreement. But no, they'd rather talk about SISUs lack of due dilligence. Yes, that is also an important part of our disastrous story, but certainly not as important as what went on before.
Still, SISU OUT!, eh?
Still, SISU OUT!, eh?
Are people really trying to justify that the rent wasn't far too high? You couldn't make it up...
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J
Jack Griffin
Guest
What a ridiculous analogy.
Grendel
Well-Known Member
Swansea and Nottingham forest are but two examples of clubs in financial peril saved by their respective councils who had a long term vision for those clubs and creating a platform for success.
J
Jack Griffin
Guest
stupot07
Well-Known Member
They did, the wage bill and transfer budget, that's why we got relegated.
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albatross
Well-Known Member
Come the start of next season we will have bee at the RICOH for 10 years , CCC were supporting this project for a couple of years before we moved , i's sure someone will know the exact dates.
I think a 10 year involvement could be classed as long term vision, just the club and successive management regimes have not delivered on their part.
There is also some debate about the legality of Swansea CC effectively subsidising a business over an above what they are allowed to do in law. Don't know about NFFC but they did not redevelop the city ground into houses.
I think a 10 year involvement could be classed as long term vision, just the club and successive management regimes have not delivered on their part.
There is also some debate about the legality of Swansea CC effectively subsidising a business over an above what they are allowed to do in law. Don't know about NFFC but they did not redevelop the city ground into houses.
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torchomatic
Well-Known Member
No, put me down for a I Hate CCC, ACL, SISU, Richardson, McGinnity, PWKH, Fisher one.
So I can mark you down for an ISISU tee shirt can I?
J
Jack Griffin
Guest
Errr.. could you think of a snappier logo, that typeface would be awful small, how about..
I f****ing hate EVERYTHING!
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Ian1779
Well-Known Member
Such a false statement. It may well have been only 10% of costs.. but no one ever relates % of revenue do they, as it tells a significantly different story.
Grendel
Well-Known Member
Exactly - 10% of costs is not any measure you would apply. You would look at % of revenue and in particular match day revenue. The percentage was far far higher.
Nick
Administrator
I think they acknowledge the high rent but it wasn't the council's fault, because the club agreed to it, whilst bent over a barrel.Are people really trying to justify that the rent wasn't far too high? You couldn't make it up...
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
So that makes it sisus fault.
The same as I bought as car that had been used in an arm Robbery ten years ago so it was clearly me who did it.
Nick
Administrator
Again if we went down I think sisu would need a pr transplant
I don't make any major decisions about next season in January whatever Division we're likely to be in. PUSB!
hill83
Well-Known Member
Nick WTF? Delete this one.
We all have our moments like Jans melt down. I would say this one is yours.
Either that or Hill, Valliant or CovCity4lide have hacked your account!!!
Fuck off mongo you sweaty little nerd.
covcity4life
Well-Known Member
Nick WTF? Delete this one.
We all have our moments like Jans melt down. I would say this one is yours.
Either that or Hill, Valliant or CovCity4lide have hacked your account!!!
shat it lucas
The rent was high but it needed to be high to make ACL viable, it wasn't the case that acl and ccc were ripping off ccfc who were over a barrel. The club were being bailed out, the only way it was possible to bail them out was with high rent, it was a shit situation and it was the best option at the time. It clearly did become the case once acl were fully established that it was in everyone's best interests for the rent to be reduced and while sisus methods were scummy it produced results unfortunately they didn't take the very fair rent and chose to run the club into the ground instead.
We've lent money to our sister in law at 5%, you can say well I can borrow on my mortgage at 2% so thats a rip off, but we arn't ripping her off, we've had to borrow money at 6.9% to lend it to her and we could have lent the money to someone else at 20%, this is the sort of thing that happened with acl. The only way the club could get what they needed was for them to pay a rent high enough to pay for the costs and loan that acl had to take out.
You and Toorch haven't half posted some nonsense over the last few pages.
chiefdave
Well-Known Member
If CCFC were essentially solely responsible for ensuring ACL could meet their financial commitments shouldn't they also have had some, if not all the benefit?
If I build a block of 10 flats I don't charge the first person to move in 10 times the going rate for one flat just in case nobody else moves in!
torchomatic
Well-Known Member
Ha! At least you've admitted it. So Lucas was lying when she said that ACL were fine without the club? 9% of the business I think was quoted.
So if I open a sweet shop and sell my Mars bars for a £100 a time then I would be more than viable, wouldn't I? Thanks Lord Sugar.
So if I open a sweet shop and sell my Mars bars for a £100 a time then I would be more than viable, wouldn't I? Thanks Lord Sugar.
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Broken Hearted Sky Blue
Well-Known Member
M&B Stand
Well-Known Member
The one thing that I can't fathom (well there's more than one but still) is why SISU didn't allow us to go into administration when they took over? Then just pick thru the bones of what was left and take it from there. Not agree daft rent and repayment clauses to Robinson.
Anyone the wiser?
Anyone the wiser?
Broken Hearted Sky Blue
Well-Known Member
just how much was the remaining 340 odd days revenue a t Highfield Road worth? Any figure above nothing would do.
what benefit? the money was being used to pay off the loan that was only needed because ccfc were in trouble. if acl or ccfc were making a profit you'd have a point but they were not in fact it's quite clearly been a big loss at least for higgs. if you are down millions of pounds from an enterprise you were only in for someone elses benefit you were clearly not ripping them off.