Council admits Ricoh Arena was not sustainable without CCFC (6 Viewers)

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torchomatic

torchomatic

Well-Known Member
Ah, don't worry about it. That's just his standard response as he can't think of a way to defend it.

AndreasB said:
Yeah, I blame the immigrants.

Theres a vote coming UKIPs way from Carlisle in May I think
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G

Godiva

Well-Known Member
lordsummerisle said:
After a £700,000 profit the previous year, it looks more like £1.1million lost during the year Cov were away.
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There was an extraordinary item in 2013 that improved the result by $475t. (The 'restructuring' of the finances/loan).
 
G

Godiva

Well-Known Member
lordsummerisle said:
That would equate to closer to £1.6million lost then due to Cov being away?
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Easy now :)
Remove the extraordinary item from 2013 and you get a profit of £300t ... so they went from +£300t to -£400t, that's a difference of £700t.

But of course we don't know the details, so the direct effect of the club not being there could be more or could be less.
 
G

Godiva

Well-Known Member
Ian1779 said:
I listened to it earlier. If the woman backtracked anymore she could time-travel.
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I did too. Interesting how she said to ask the new owners for details of the accounts. A few hours later I read Mr Eastwood say to ask previous owners for those details.
 
Grendel

Grendel

Well-Known Member
skybluetony176 said:
Sorry. Did I log into the off topic section again? Silly me I thought this was the Coventry City general chat section.

I'll go and leave you to talk about anything other than the clubs demise under the current custodians.
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Your open letter thread didn't really take off did it? Never mind.
 
skybluetony176

skybluetony176

Well-Known Member
Grendel said:
Your open letter thread didn't really take off did it? Never mind.
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Proved the point perfectly. Most of you on here are so blinded by your hatred of the council you can't see how badly us fans are being let down by our owners on every level.

Still when it's only you and your cronies left on here and at games you can blame the lost fans who have had it with SISU instead of blaming SISU for loosing the fans. That's what type of "big man you are" but hey, at least you'll be happy.
 
L

Limey

Well-Known Member
Just listened to the Shane show....

Isn't it great that Wasps will make money. (Yes, whilst City make none.)

Clueless!!!!
 
D

Deleted member 5849

Guest
duffer said:
So it's all well and good saying let's look forwards, but the actions of the past concluded by CCC selling to Wasps have closed the door to most of the sensible options that I can see - what do others propose?
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To take this at face value, I would be lobbying for a ground in the city.

If (when) SISU don't do it, any owner following them NEEDS that option, so we need to show that fans want it open as an option.

At the moment we're so welded to the idea of a ground that is NOT ours that we close off options for future owners and, because of that, slowly close off options for our club surviving.
 
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Sick Boy

Sick Boy

Super Moderator
skybluetony176 said:
Proved the point perfectly. Most of you on here are so blinded by your hatred of the council you can't see how badly us fans are being let down by our owners on every level.

Still when it's only you and your cronies left on here and at games you can blame the lost fans who have had it with SISU instead of blaming SISU for loosing the fans. That's what type of "big man you are" but hey, at least you'll be happy.
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Oh dear.
 
D

dongonzalos

Well-Known Member
Godiva said:
Easy now :)
Remove the extraordinary item from 2013 and you get a profit of £300t ... so they went from +£300t to -£400t, that's a difference of £700t.

But of course we don't know the details, so the direct effect of the club not being there could be more or could be less.
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So do wasps roughly need to make 700k to stay afloat?
 
G

Godiva

Well-Known Member
dongonzalos said:
So do wasps roughly need to make 700k to stay afloat?
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To be honest Don, I don't really understand what you're asking.

The new owners will bring in sponsor deals and of course revenue from rugby games. That's new income and could well be enough to bring ACL back in profit (all other things being equal).

Then there's Wasps and financing their losses. Whatever ACL make in profit will surely be channelled to Wasps.
 
Grendel

Grendel

Well-Known Member
Godiva said:
To be honest Don, I don't really understand what you're asking.

The new owners will bring in sponsor deals and of course revenue from rugby games. That's new income and could well be enough to bring ACL back in profit (all other things being equal).

Then there's Wasps and financing their losses. Whatever ACL make in profit will surely be channelled to Wasps.
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He's trying to divert the thread as once again he has backed the wrong horse.
 
chiefdave

chiefdave

Well-Known Member
RegTheDonk said:
Ok so does this revelation mean anything other than a lot of mud slinging and arguing? Does it give any way of changing the current status quo? Will sisu's Lawers be rubbing their hands at another legal bout?

What happens next?
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I would guess that SISU have their lawyers very carefully examining claims made by CCC and Higgs regarding ACL and the loan during the JR. If they find that the same statements made to the public, that turned out to be untruthful, were made in court I would think they have strong grounds for further legal action - as if we haven't spent enough time in court already!

Would be interested to know how these revelations would be classed. My understanding is the JR appeal can only take into account evidence known at the time but could it be argued that CCC withheld information with the intent to mislead? Could that information now be included in any appeal? It seems plausible to me that this is the information SISU were after when they made request for access to CCC documents.

Unfortunately I think the next step is going to be further legal action and more off the field distractions.
 
Mary_Mungo_Midge

Mary_Mungo_Midge

Well-Known Member
Grendel said:
He's trying to divert the thread as once again he has backed the wrong horse.
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He backed the wrong horse? Is that you who sat there for months spouting Average League One rents? Is that you who promised the Judicial Review smoking gun? Is that you who positively asserted SISU were the 'only game in town'? Is that you who scoffed at the idea of a rugby club playing at The Ricoh?

Are you Nick Lesson?
 
chiefdave

chiefdave

Well-Known Member
italiahorse said:
The stadium was built for the club and the club would always be the main customer.
Obviously the club were the main financier of ACL that's what the stadium was all about.
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Not according to the council, only yesterday Lucas stated as fact that the Ricoh was always intended to be a multi-franchise stadium. What you're written there is basically agreeing with Fishers original argument, that we were providing the funding but not getting the benefits.

italiahorse said:
When your main customer leaves unexpectedly of course it was going to challenge the business plan.
We can either drag this on to the death of CCFC, ACL and Wasps or we can try to make something of it.
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Yet the council repeatedly said the opposite, are you now accepting that this was an outright lie from the council and assuming you are does this not trouble you in any way?

italiahorse said:
Wasps need CCFC, CCFC need the Ricoh so let's push both to sort out a long term deal.
Wasps have talked about it yet Sisu appear to be ignoring it and continue to challenge in the courts using CCFC money.
I get irritated by people that just keep whining, can't offer solutions and like to be victims.
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According to Wasps their business plan doesn't require us to be playing there. Or shall we add them to the list of people telling lies? Look at the evidence provided on this forum showing comparative revenues from when we were in the championship. Wasps aren't going to just hand over the revenues such as naming rights so how are we to be competitive when a rugby club is keeping the money we generate?

skybluetony176 said:
Why is the landlord an outside influence? We've signed a. 2 + 2 year rental agreement.
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According to the council that length of deal was agreed to allow the trust between the two sides to be rebuilt, a couple of weeks later one of the sides had sold the stadium to a rugby club! So your view is we should just stick with a model that restricts us to L1 for the next 4 seasons and then cross our fingers that Wasps don't put the rent up to a similar rate we paid prior to the move to Sixfields?

Malaka said:
SISU trying to get the stadium for next to nothing, DUH! of course the vendor is going to big it up to get a fair price.
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Quantify fair price? Fishers stance from the start of this was that ACL were reliant on us being there and paying our excessive rent. The last couple of days has proved he was absolutely right. So given that what would a fair price have been?

mark_ccfc said:
Next - the landlord re-finances the mortgage to make it more affordable, then the tenant cries foul about the loan (after breaking their rental agreement themselves!) then takes them to court
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Except in this scenario the people providing the refinancing are also the landlords and are a public body using taxpayers money to provide that refinancing whilst lying to the taxpayers.

The saddest part of this is, as Duffer pointed out, there doesn't appear to be any possible plan going forward that has us getting out of this mess. It looks like our best option is playing in an increasingly Wasps branded stadium and if we're lucky bouncing around between L1 and the championship, if we're unlucky bouncing around between L1 and L2 or lower. Whatever you think of SISU, and I don't think anyone on here would hold them up as brilliant owners, the councils sale of ACL to Wasps is the knockout blow in this sorry saga. The punch it might be impossible to ever recover from.
 
chiefdave

chiefdave

Well-Known Member
Nick said:
http://www.bbc.co.uk/programmes/p02g9r6g
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I shouldn't have started listening to this, how can anyone hear her speak and not be absolutely furious? Banging on about franchises and business rates, it's like a sick joke. She is an absolute disgrace to the city.

Oh good now she's hiding behind commercial confidentiality.

Interesting that when talking about the club she says she was a fan, I would suggest she would be well advised to never show her face at a game again.
 
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mark_ccfc

mark_ccfc

Well-Known Member
chiefdave said:
Not according to the council, only yesterday Lucas stated as fact that the Ricoh was always intended to be a multi-franchise stadium. What you're written there is basically agreeing with Fishers original argument, that we were providing the funding but not getting the benefits.



Yet the council repeatedly said the opposite, are you now accepting that this was an outright lie from the council and assuming you are does this not trouble you in any way?



According to Wasps their business plan doesn't require us to be playing there. Or shall we add them to the list of people telling lies? Look at the evidence provided on this forum showing comparative revenues from when we were in the championship. Wasps aren't going to just hand over the revenues such as naming rights so how are we to be competitive when a rugby club is keeping the money we generate?



According to the council that length of deal was agreed to allow the trust between the two sides to be rebuilt, a couple of weeks later one of the sides had sold the stadium to a rugby club! So your view is we should just stick with a model that restricts us to L1 for the next 4 seasons and then cross our fingers that Wasps don't put the rent up to a similar rate we paid prior to the move to Sixfields?



Quantify fair price? Fishers stance from the start of this was that ACL were reliant on us being there and paying our excessive rent. The last couple of days has proved he was absolutely right. So given that what would a fair price have been?



Except in this scenario the people providing the refinancing are also the landlords and are a public body using taxpayers money to provide that refinancing whilst lying to the taxpayers.

Did you want them to let ACL go bust and cost the taxpayer even more?

The saddest part of this is, as Duffer pointed out, there doesn't appear to be any possible plan going forward that has us getting out of this mess. It looks like our best option is playing in an increasingly Wasps branded stadium and if we're lucky bouncing around between L1 and the championship, if we're unlucky bouncing around between L1 and L2 or lower. Whatever you think of SISU, and I don't think anyone on here would hold them up as brilliant owners, the councils sale of ACL to Wasps is the knockout blow in this sorry saga. The punch it might be impossible to ever recover from.
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Sick Boy

Sick Boy

Super Moderator
Mary_Mungo_Midge said:
He backed the wrong horse? Is that you who sat there for months spouting Average League One rents? Is that you who promised the Judicial Review smoking gun? Is that you who positively asserted SISU were the 'only game in town'? Is that you who scoffed at the idea of a rugby club playing at The Ricoh?

Are you Nick Lesson?
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How's your old mucker Thorny doing these days? Proven to be wrong....again.
 
Sick Boy

Sick Boy

Super Moderator
chiefdave said:
I shouldn't have started listening to this, how can anyone hear her speak and not be absolutely furious? Banging on about franchises and business rates, it's like a sick joke. She is an absolute disgrace to the city.

Oh good now she's hiding behind commercial confidentiality.

Interesting that when talking about the club she says she was a fan, I would suggest she would be well advised to never show her face at a game again.
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She's a vile woman and a disgrace to the city.
 
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