Council admits Ricoh Arena was not sustainable without CCFC (1 Viewer)
- Thread starter SimonGilbert
- Start date
Can you put your suspicion in simpleton terms?
I suspect it was CCC who went to the club with nice words about a new beginning and rebuilding relationships etc. and they did it only to secure the Wasps deal. It was paramount to Wasps business plan that the club was back paying some rent, bringing in punters and help increase the stadium sponsorship value.
Had sisu said 'no thanks' the price of ACL would have been much lower (they would still have sold or even given away ACL if necessary).
lordsummerisle
Well-Known Member
More made up figures bullshit.
Sky Blue Pete
Well-Known Member
You do understand its an elected role don't you? She receives expenses not a salary
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skybluetony176
Well-Known Member
I was happy SISU lost because naively I thought it would be the end of that chapter and the club could at last start moving forward. If you saw it as anything other than that, that's you're issue or imagination. You choose.
It's a pity others couldn't and some still can't see what SISU are STILL doing to the club because of their obsession with everyone but the clubs custodians.
I got it a long time ago along with the majority of our clubs now missing fan base and a good number of what's left. But you have your day in the sun if it makes you feel better.
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stupot07
Well-Known Member
Not insignificant though http://www.coventrytelegraph.net/news/coventry-news/coventry-city-councillors-reject-call-3021960
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
skybluetony176
Well-Known Member
I don't get this. We're signed up on 2 year plus another 2 year deal if we want it. Where's the long term security that clinched the ACL takeover?
Where did I mention long term security?
Wasps will have to build a sustainable operation. Both Wasps and ACL are loss making ... what did Fischer say about turkeys and eagles?
With the club there for 4 years they stand a much better chance of creating a sustainable business than without us.
I'm trying to find an accurate statement in your post. I suspect that I could be looking a long time.
Excellent, then you must have inside info.
Please correct me where I am 'inaccurate'.
Nick
Administrator
Welcome back! Buzzing that you are here again!
Can you correct things then rather than just saying it is wrong?
Nick
Administrator
Why don't you tell us what happened?
skybluetony176
Well-Known Member
I never said you did. But securing an unreliable tenant for 2 years and maybe another 2 years hardly sounds like a deal clencher for a 250 year lease. What are they going to do for the other 246 years? Wing it and hope it all comes good?
The importance of CCFC returning to the Ricoh (other than to it's fan base) sounds overplayed. That's all I'm pointing out.
Correct. Bringing CCFC was a political move, nothing more. Especially at the rent being paid.
Nick
Administrator
So Wasps don't really need CCFC there?
Why the sudden rush for CCFC to get back then around the same time as the buying of the Ricoh? To scupper the deal?
Nick
Administrator
"Need", no. Just saying that nobody buys a business if one customer is key and that customer is not tied in long term. So, financial models must surely have been worked through without CCFC being a tenant.
not sure Sisu give a monkeys about how they are perceived. Suspect the Council do.
skybluetony176
Well-Known Member
So basically CCC needed CCFC back for political reasons. It made no difference to you and SISU really did overplay their hand with the Northampton debacle meaning fan power did win the day and the boycott worked.
By the way. How do you feel about the Tigers advertising by the Ricoh?
Nick
Administrator
To try and soften the wasps news or mask it?
Does it not make you just a tiny bit curious as to how little money actually change hands in the deal?
(We don't even know if Wasps have paid cash for the shares. I would usually assume they did, but I won't be surprised if they got some sort of a payment plan).
Why isn't the loan paid out? Surely the council would have insisted the loan be paid out immediately? If not to avoid the coupling between loaning £14m to a hedge fund while not having money to avoid huge cuts on public service, then at least to avoid the risk of ACL going bankrupt in the future and have to write off the remaining part of the loan.
But cash flow aside - Bringing the club back adds value to the deal. What would the price be had the club stayed away?
Nick
Administrator
I guess it depends why ccc needed the club back for political reasons surely?
When you say "you" I suspect you think I am aligned one way. Not the case. I would say that I like to point out inaccuracy.
as to the advert, suspect Wasps will be smiling, less than one month after the first fixture and rivals are already having their noses put out of joint.
as to the advert, suspect Wasps will be smiling, less than one month after the first fixture and rivals are already having their noses put out of joint.
See my response to Tony - cash flow might(!) have been a deal breaker.
But you said my post was inaccurate - I would have hoped you offered some facts, not opinions.
Gynnsthetonic
Well-Known Member
Exactly an ex shop steward for Bernie Inn running the City before her a former binman (Muttonhead) and we wonder why we now live in a second rate city!
The Judicial Review concerned State Aid. Deferred consideration for shares would no doubt open doors for a similar claim I suspect.
what hedge fund? With interest rates so low, I wonder the public purse is better off with the loan on-going?
depends if CCFC return was factored in to price. And depends whether rent is material.
Nick
Administrator
Surely ccc could blame sisu more If ccfc was still in Northampton?
Presumably the Council get the kudos for being instrumental in bringing CCFC home. And, be honest, getting CCFC back home before announcing the sale was probably thought to be politic.
Nick
Administrator
It didn't service the debt for months before that though did it? Why suddenly when wasps were there or talks were happening?