An outline idea for a change of CCFC ownership (10 Viewers)

[MichaelCCFC]

Just thinking aloud on a Sunday afternoon really but as there seems near universal agreement that we won't progress under sisu but that just saying 'sisu out' won't bring about change here are some thoughts on an outline idea as to how to bring about a change of ownership - certainly not a detailed action plan - and I'll live in hope of other people filling in the gaps and some reasoned debate!


1. Set up a Community Interest Company called something like 'Coventry City Interim' (CCI) whose aim would be to secure ownership of CCFC from sisu and transition to a new ownership model to benefit the community. 2. Tell sisu if they hand over CCFC debt free to CCI they will get a lump sum payment when we get promoted to the Championship and a further lump sum when we get promoted to the Premier League, the combined total far exceeding what they are able to take out of CCFC at the moment [rough figures are easy to work out but someone might want to work it out in more detail - might even be able to chuck in a small immediate sweetener].
3. If sisu refuse the offer, it is left on the table but a full scale sisu out campaign is launched (the sixfields campaign was a huge success, sisu's weak spots are well known so the tactics aren't rocket science - and they don't require pitch invasions)
4. sisu finally see sense and accept the offer so ownership of CCFC passes to the interim company.
5. The interim financing of the club would be down to fans ie with sisu gone nopm-ers would be under pressure to return and buy season tickets. A simple approach would be to have pledges and even deposits in place against which a short-term loan would be available from sympathetic parties.
6. CCI then calls for bids for CCFC knowing that a supporters' share scheme would raise as much as somewhere like Portsmouth and that there are a fair few local business people who would be willing to invest sums of around half a million each.
7. The new ownership model takes over CCFC.


8. With new momentum behind CCFC and strong popular support, negotiations with Wasps about securing income streams for CCFC and profits to be made from the Ricoh would begin from a position of strength (and having forced the Ricoh return and sisu out, Wasps would be wise at that point to listen very carefully!)

 

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[Grendel]

How does this company fund a club that has been losing millions a year for decades?

 

[Tonylinc]

Have you not heard....we are cash positive.

 

[stupot07]

3) what campaign?


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[Kingokings204]

Sisu will go when they want to. The only form of protest that would work is nopm at the Ricoh but this would hurt ccfc more than it already is. It's a fine line between hurting sisu and hurting ccfc.

When every avenue is exhausted and all money has gone then they will go. At the moment the club is worthless hence why they won't go.

 

[SkyBlue_Bear83]

Sounds decent, how would we force SISU out though, would it just be a boycott. Protests and bad publicity doesn't seem to faze them.

As for point 8 I'd first like to see if there is a possibility that the new ownership model could buy into ACL and become partners with Wasp, if not what income streams would the club be looking to secure, all match day revenue and a portion of non match day revenue/sponsorships would be my suggestion, what would happen if Wasps refuse? Would the new ownership model have the financial clout and desire to build a new stadium or would they sign us up to an unfavorable rent deal with Wasps

 

[stupot07]

Sounds decent, how would we force SISU out though, would it just be a boycott. Protests and bad publicity doesn't seem to faze them.

As for point 8 I'd first like to see if there is a possibility that the new ownership model could buy into ACL and become partners with Wasp, if not what income streams would the club be looking to secure, all match day revenue and a portion of non match day revenue/sponsorships would be my suggestion, what would happen if Wasps refuse? Would the new ownership model have the financial clout and desire to build a new stadium or would they sign us up to an unfavorable rent deal with Wasps

Perhaps a full boycott of wasps matches by all CCFC fans (yes, that includes the Trust Board members ) would help put us In a stronger position of negotiation.....


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[ccfcway]

Protests and bad publicity doesn't seem to faze them.

Don't agree with that bit. The Sixfields departure was at very least "in part" due to the fans protest of not going. They are also VERY keen not to be linked to the club and the two entities stay seperate. Joy doesnt even want to be known.

 

[The Gentleman]

Oh Michael, just when you won some over with your posts against the council, they will be back on you with a million questions and nit picking rather than constructive dialogue. Absolutely no surprise that the first two were Grendel and Stupot.

 

[The Gentleman]

Perhaps a full boycott of wasps matches by all CCFC fans (yes, that includes the Trust Board members ) would help put the U.S. In a stronger position of negotiation.....


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Are America buying us?

 

[stupot07]

Are America buying us?

Ha ha, no damn autocorrect.


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[rupert_bear]

Perhaps a full boycott of wasps matches by all CCFC fans (yes, that includes the Trust Board members ) would help put us In a stronger position of negotiation.....


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What a stupid statement, what difference to ccfc does it make who goes to Wasp rugby games ? and I'm not convinced that many Sky Blue fans go anyway.

 

[stupot07]

What a stupid statement, what difference to ccfc does it make who goes to Wasp rugby games ? and I'm not convinced that many Sky Blue fans go anyway.

Seems quite a few judging by my Twitter feed. We wouldn't know what difference it would make, unless we tried it. Unless you've already bought your wasps season ticket and don't want to give it up? It could make a difference in limiting their attendances, especially for big european ties.

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[Ian1779]

No thought then how to finance all of this then??

If you managed to make enough money from all the excuse makers returning, how do you propose to pay all players over the season break...? Pay for the academy to maintain its current status...? Just two things that spring to mind outside of normal player wages and rent to Wasps.

As well meaning as it may appear it's about as well thought out as the Dhinsa takeover.

 

[Tonylinc]

That's right; someone comes up with an idea but rather than taking it further just shoot it down at the very first stage. Surely it deserves discussion at least?

 

[stupot07]

That's right; someone comes up with an idea but rather than taking it further just shoot it down at the very first stage. Surely it deserves discussion at least?

Thanks for sticking up for me and my idea of wasps boycott....Rupert really is so negative.


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[Grendel]

That's right; someone comes up with an idea but rather than taking it further just shoot it down at the very first stage. Surely it deserves discussion at least?

Ian is discussing it -- how when no revenue is coming in will the players be funded?

How will the cash flow be maintained - this is nothing to do with being revenue positive - this is funding debt and bills and transfers when less revenue is in in the same timescale.

Discuss

 

[Ian1779]

That's right; someone comes up with an idea but rather than taking it further just shoot it down at the very first stage. Surely it deserves discussion at least?

So the club come out with a detailed statement about the way forward for the club and it's widely dismissed... Yet Michael shows up with some ramblings and it's worth discussion....?

 

[wingy]

So the club come out with a detailed statement about the way forward for the club and it's widely dismissed... Yet Michael shows up with some ramblings and it's worth discussion....?

What are the Club currently doing while Fisher hides .

Appealing to the community to bail them out .

Why Can't the community do the same minus Fisher ?

 

[skybluefred]

Sisu will go when they want to. The only form of protest that would work is nopm at the Ricoh but this would hurt ccfc more than it already is. It's a fine line between hurting sisu and hurting ccfc.

When every avenue is exhausted and all money has gone then they will go. At the moment the club is worthless hence why they won't go.

The Club/sisu is not worthless it owns the Ryton complex which is reportedly worth some £9m pounds.
It also has a few players who are worth a bob or two.

One thing is for certain,without investment the Club will not reach the heady heights alluded to by the OP.
It seems obvious investment will not come via sisu so some other major investor is required.

 

[chiefdave]

Afraid for me it all falls over on the first point.

1. Set up a Community Interest Company called something like 'Coventry City Interim' (CCI) whose aim would be to secure ownership of CCFC from sisu and transition to a new ownership model to benefit the community.

First things first if there is someone wanting to takeover the club why can't they do it themselves? Having fan ownership in the interim just seems to be an unnecessary complication.

Secondly I can't see anyway for fan ownership to succeed until we're at a point where all clubs are required to run without making a loss. Portsmouth are a great example. They are in their second year of fan ownership, have massive crowds for L2 and a budget that allows for a 7 figure loss yet aren't anywhere close to making it out of L2.

Finally given that we'd need to run at break even, unless someone is prepared to cover losses, what is the advantage to SISU? They can run us at break even and hope / pray we go up and keep all the money and sell a club on the up in the championship, a much more attractive proposition for a potential buyer. Why would they just walk away and let someone else run it at break even on the promise that they'll get a cut if things go well?

 

[letsallsingtogether]

The Club/sisu is not worthless it owns the Ryton complex which is reportedly worth some £9m pounds.
It also has a few players who are worth a bob or two.

One thing is for certain,without investment the Club will not reach the heady heights alluded to by the OP.
It seems obvious investment will not come via sisu so some other major investor is required.

Didn't they remortgage Ryton?

 

[Moff]

Didn't they remortgage Ryton?

Paid off the last I heard. Not sure how Fred values it at 9 million though?

 

[hill83]

 

[wingy]

The Club/sisu is not worthless it owns the Ryton complex which is reportedly worth some £9m pounds.
It also has a few players who are worth a bob or two.

One thing is for certain,without investment the Club will not reach the heady heights alluded to by the OP.
It seems obvious investment will not come via sisu so some other major investor is required.

Where you hearing that Valuation from Fred ?

Sounds extremely generous to me .

Wasn't the last time It was mortgaged about 3 yrs ago and that was for£1M.

 

[wingy]

If It were sold as Brownfield how many houses would fit ?

 

[skybluefred]

I think that was the figure banded about when the redevelopment of Ryton was taking place.

 

[chiefdave]

If It were sold as Brownfield how many houses would fit ?

Didn't SISU approach the council about that and got told that houses couldn't be built there?

 

[The Philosopher]

Didn't SISU approach the council about that and got told that houses couldn't be built there?

Is Ryton CCC or Warwickshire ? Can't remember.

 

[chiefdave]

Is Ryton CCC or Warwickshire ? Can't remember.

Can't remember which is why I just put council!

 

[wingy]

Didn't SISU approach the council about that and got told that houses couldn't be built there?

Yeah I think Mcginity even looked at It .

 

[The Philosopher]

Anyway, hate to say this, but I cannot see SISU going anywhere until they plug the hole in their balance sheet.

I just don't think that they can.

If they can own a ground with some additional entertainment options, get their (AEG?) people in, attract some outside investors to the table on the back of it, then you may see a different SISU.

To be balanced, when they first came in they did shove some money in, The fact that Coleman didn't pull any trees up has cost us all long term.

SISU's bottle went the day that Westwood refused to sign a new contract; they then realised that the £30m worth of players that RR said they had may in fact be worth nothing.

They sold Best, Dann, Fox etc. and put long contracts to Bell and Baker to "protect their asset value" shear panic.

SISU doing a deal with CCC IS our only hope at the moment.

Unfortunately.

 

[The Philosopher]

Can't remember which is why I just put council!

Just looked, it's part of the Rugby and Kenilworth Constituency in Warwickshire. Tory held marginal. May be pro-development, may be pro sticking-it-to-labourCoventryCouncil.

May get permission stranger things have happened.

Land in Ryton is worth more per acre than land in Hollbrooks I would say.

9m is a chunk of money to stick down on a development in Holbrooks.

 

[Deleted member 5849]

Is Ryton CCC or Warwickshire ? Can't remember.

Def Warwickshire

Rugby Borough Council and yes, McGinnity tried to flog it for housing. Well, he'd sold everything else...

 

[chiefdave]

Land in Ryton is worth more per acre than land in Hollbrooks I would say.

9m is a chunk of money to stick down on a development in Holbrooks.

At a guess this is where the idea of building a whole new complex rather than just stadium has come from. Its a shame CCC and the club aren't on better terms, with the main sports centre closing down a joint development on a new facility as part of the stadium complex would be ideal. Would also incentivise CCC to ensure any new stadium location has good public transport links.