Fisher on new stadium (8 Viewers)

[Astute]

Doubt it, I think they are trying to get someone else to spend that money and give them a new Stadium.

If they pay at the average rent of 100k it would only take 300 years to pay for a 30m stadium if they can get it done interest free

 

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[Godiva]

You do the figures, it's bollocks. Don't believe it.
What income will CCFC get if Sisu spend £25M on a stadium ?
Just work out the interest rates on £25M and equate it to yearly rent.
Even 3% is £750K a year.

So SISU are going to spend 30m+ buying land and building a new stadium for us....and then charge us the average rent of just over 100k PA. And here was me thinking that they are doing their best to reduce losses.

So if it is worth taking on so much debt why was it wrong to take on the Ricoh for about the same amount of debt that is in a good location and includes much more than just a football stadium?

Exactly ....... and who would finance the other £500K pa (conservative estimate) interest charges on the stadium build ?
It's time this new stadium was put to bed once and for all.

If they pay at the average rent of 100k it would only take 300 years to pay for a 30m stadium if they can get it done interest free

When the Ricoh was build ... what was the cost? £110m+? Yet we 'only' paid £1.3m yearly rent even though the interest rate was way higher back then.
The stadium was only a part of the complex - other companies like Tesco and the Casino paid a handsome part of the build. ACL then bought their lease at some £24m and it was from that price the club's rent was calculated.

If I understand this correctly it's not different from the setup with the Ricoh - only different owners.

A new company is formed and financed by new investors. They will buy the land, build the stadium and other facilities. Maybe a hotel, housing, a supermarket ... This company will most likely NOT be a company in the SBS&L family.
Within the SBS&L family a new company will be running the operation of the stadium. A company like ACL, but owned by the club.
The club will pay a rent (just like Wasps are paying rent to ACL) but in addition all revenue from the stadium 365days/yr will count in the FFP/SCMP calculation.

So the club will not be laden with more debt - that will sit in the prop-co - the company outside SBS&L.
Yes, the club will pay rent - which is fair as the club actually use the facilities. How much nobody knows and probably won't know until shortly before we move in.

Early in 2013 when it was clear the negotiations had broken down with ACL over part ownership of the Ricoh, I was convinced a new stadium would be build. As time just went by and no signs of plans were laid open and no site bought I started to doubt, even though I always believed we had to own our stadium if we should ever have a chance of returning to top flight football.
In addition I was fooled by the previous accounts when all the long term debt was suddenly reclassified as short term debt. To me that was a sign sisu could be preparing an exit.

But now? Now I must admit that I am back to believing this will happen.

 

[Astute]

When the Ricoh was build ... what was the cost? £110m+? Yet we 'only' paid £1.3m yearly rent even though the interest rate was way higher back then.
The stadium was only a part of the complex - other companies like Tesco and the Casino paid a handsome part of the build. ACL then bought their lease at some £24m and it was from that price the club's rent was calculated.

The 1.3m rent was set to cover the repayment of the loan that was needed after grants, the Tesco money and the 10m that CCC put into the build on top of other funding. The funding needed was about the same as what SISU would need.

So who is going to put money into this build that isn't going to be repaid if nobody even knows what county it will be built in?

 

[Broken Hearted Sky Blue]

The 1.3m rent was set to cover the repayment of the loan that was needed after grants, the Tesco money and the 10m that CCC put into the build on top of other funding. The funding needed was about the same as what SISU would need.

So who is going to put money into this build that isn't going to be repaid if nobody even knows what century it will be built in?

Corrected for you

 

[dongonzalos]

If I understand this correctly it's not different from the setup with the Ricoh - only different owners.

A new company is formed and financed by new investors. They will buy the land, build the stadium and other facilities. Maybe a hotel, housing, a supermarket ... This company will most likely NOT be a company in the SBS&L family.
Within the SBS&L family a new company will be running the operation of the stadium. A company like ACL, but owned by the club.
The club will pay a rent (just like Wasps are paying rent to ACL) but in addition all revenue from the stadium 365days/yr will count in the FFP/SCMP calculation.

So the club will not be laden with more debt - that will sit in the prop-co - the company outside SBS&L.
Yes, the club will pay rent - which is fair as the club actually use the facilities. How much nobody knows and probably won't know until shortly before we move in.

Early in 2013 when it was clear the negotiations had broken down with ACL over part ownership of the Ricoh, I was convinced a new stadium would be build. As time just went by and no signs of plans were laid open and no site bought I started to doubt, even though I always believed we had to own our stadium if we should ever have a chance of returning to top flight football.
In addition I was fooled by the previous accounts when all the long term debt was suddenly reclassified as short term debt. To me that was a sign sisu could be preparing an exit.

But now? Now I must admit that I am back to believing this will happen.

Who pays the loan and its interest at the Ricoh?

 

[Godiva]

The 1.3m rent was set to cover the repayment of the loan that was needed after grants, the Tesco money and the 10m that CCC put into the build on top of other funding. The funding needed was about the same as what SISU would need.

They haven't even found and bought the land yet, so difficult to project what other businesses that can 'assist' the funding and payback of interest. Could be a hotel, could be housing, could be an IKEA depending of the potential demand in that region.

So who is going to put money into this build that isn't going to be repaid if nobody even knows what county it will be built in?

Don't you think the prospect they present to potential investors would include the location?

It's way to soon to shoot down the idea - let's wait till they have actually bought a piece of land and see what the potentials will be.

 

[Deleted member 5849]

It's way to soon to shoot down the idea.

The idea is not bad, the execution however is poor.

 

[SkyblueBazza]

Lots of people saying there is another option to staying at the Ricoh but not actually saying what it is.
TF is strong here.

I think SW made some reference to the Sixfields option is still open to them. Maybe that's what they are on about?

PUSB

 

[dongonzalos]

Doesn't Usmanov own nearly 30% of Arsenal?

Yes and he is the man saying Arsenal choose to go down the debt tour to build their new stadium. Which he states set them back 10 years.

 

[SkyblueBazza]

Yes and he is the man saying Arsenal choose to go down the debt tour to build their new stadium. Which he states set them back 10 years.

At least they have a specified "window" for reasonable expectation. All our expectations have been scotched & any suggested timeline from our owners is now met with suspicion & derision.

PUSB

 

[Godiva]

who pays the loan and its interest at the ricoh?

acl.

the 1.3m rent was set to cover the repayment of the loan that was needed after grants, the tesco money and the 10m that ccc put into the build on top of other funding. The funding needed was about the same as what sisu would need.

So who is going to put money into this build that isn't going to be repaid if nobody even knows what county it will be built in?

 

[steveecov]

Where's a rich Sky blues obsessed oligarch when you need one.

 

[Godiva]

The idea is not bad, the execution however is poor.

Indeed.

 

[letsallsingtogether]

If we stay at the Ricoh we will never have a future.

And if we move to North Warwickshire it will be even less

 

[letsallsingtogether]

I think SW made some reference to the Sixfields option is still open to them. Maybe that's what they are on about?

PUSB

:laugh::laugh:

 

[steveecov]

And to think; this time last week we were thinking of possibly TM, 2 and a half years contracts, 4 points minimum from 2 games.

Anyone got a DeLorean.?

 

[Astute]

They haven't even found and bought the land yet, so difficult to project what other businesses that can 'assist' the funding and payback of interest. Could be a hotel, could be housing, could be an IKEA depending of the potential demand in that region.

Could be plain old bullshit.

 

[Astute]

Don't you think the prospect they present to potential investors would include the location?

It's way to soon to shoot down the idea - let's wait till they have actually bought a piece of land and see what the potentials will be.

So we should wait until they have bought land before we shoot any idea down? Look at my reply above this one.

 

[martcov]

Good sensible post (just for a change on this site!).They can and will make it happen, at least that's what I believe.

what a good sensible post from you. Pigs will fly, at least that's what I believe.

 

[Astute]

what a good sensible post from you. Pigs will fly, at least that's what I believe.

It isn't his fault. My little girl lost a tooth yesterday. She put it under her pillow last night. She woke up to find that the fairies took the tooth away but left her £1 and some fairy dust. She knows it happened for sure. And she knows for sure she will get the same next time she loses a tooth as she has been told so.

 

[Rusty Trombone]

If they can get other businesses to pay for getting us a new ground then that's splendid. If they can't, and they still build it, then that's good too, they can charge the club whatever they want in rent, it will all be adding to the Group's losses which one day they will have to write off (for real this time).

It may well be that no one is watching CCFC by then, but it will be mildly interesting to see a new ground being built.

 

[letsallsingtogether]

It isn't his fault. My little girl lost a tooth yesterday. She put it under her pillow last night. She woke up to find that the fairies took the tooth away but left her £1 and some fairy dust. She knows it happened for sure. And she knows for sure she will get the same next time she loses a tooth as she has been told so.

Sisu could do with some of that Fairy dust....

Or maybe just the pound to go towards the stadium fund

 

[letsallsingtogether]

If they can get other businesses to pay for getting us a new ground then that's splendid. If they can't, and they still build it, then that's good too, they can charge the club whatever they want in rent, it will all be adding to the Group's losses which one day they will have to write off (for real this time).

It may well be that no one is watching CCFC by then, but it will be mildly interesting to see a new ground being built.

 

[letsallsingtogether]

If they can get other businesses to pay for getting us a new ground then that's splendid. If they can't, and they still build it, then that's good too, they can charge the club whatever they want in rent, it will all be adding to the Group's losses which one day they will have to write off (for real this time).

It may well be that no one is watching CCFC by then, but it will be mildly interesting to see a new ground being built.

 

[robbiethemole]

'Fisher on the new stadium ' I can smell the bullshit from here.
Why do the Telegraph bother publishing this drivel.

Fisher UNDER the new stadium has a much better sound to it.

 

[ccfc92]

Should this article be counted the same as:

"Plans for new stadium are 3 weeks away"
"We will only return to the Ricoh as owners"
And RFC's favorite: "An announcement will be made in the new year!"

 

[The Gentleman]

They haven't even found and bought the land yet, so difficult to project what other businesses that can 'assist' the funding and payback of interest. Could be a hotel, could be housing, could be an IKEA depending of the potential demand in that region.



Don't you think the prospect they present to potential investors would include the location?

It's way to soon to shoot down the idea - let's wait till they have actually bought a piece of land and see what the potentials will be.

Get your head out of Sisu's arsehole for a minute, if they could of got investors do you not think they would have done it by now. With where the team is going and councils saying no all around us, what business in their right mind would want to invest in a stadium for us in Farmer Giles's shitty cow field? With our dwindling fanbase and lack of direction, who the fuck would want to stay in a hotel next to a shed? The Ricoh hardly gets busy and I bet that would attract more than Legoland.

As for it being way to soon to shoot the idea down, what the shitting hell are you on about? It's not like they have just sprung this new stadium idea on us is it? I think all the shite we've been fed for ages now pretty much makes us experts in being able to shoot the idea down, don't you?

 

[Hobo]

I said on here before we moved to Sixfields, SISU were in dispute with ACL because SISU wanted to be our landlords.
Fisher has now admitted it if SISU build a stadium we will be their tenants. Remember if they then pissed off, we would still be their tenants!

 

[Astute]

I said on here before we moved to Sixfields, SISU were in dispute with ACL because SISU wanted to be our landlords.
Fisher has now admitted it if SISU build a stadium we will be their tenants. Remember if they then pissed off, we would still be their tenants!

This was admitted a few years ago. It was the reason that I wasn't going to be happy with SISU taking over the arena. I was the same as the majority and wanted CCC to keep hold of the arena until SISU left our club and we got decent owners. They wanted it for next to nothing and it was to be kept separate from our club. And they were to charge our club rent. They wanted the freehold which was for much more than just a football arena. But they wanted it without the mortgage to make lots more money doing so. Fast forward to failed court cases and the white elephant turning grey. CCC losing money to court cases that brought Wasps to Coventry. Now it looks to me that SISU will stick around in the hope of Wasps failing. Then they could take over the arena. And if it does happen I wonder if they would charge us the average rent that they kept saying about.

 

[Hobo]

This was admitted a few years ago. It was the reason that I wasn't going to be happy with SISU taking over the arena. I was the same as the majority and wanted CCC to keep hold of the arena until SISU left our club and we got decent owners. They wanted it for next to nothing and it was to be kept separate from our club. And they were to charge our club rent. They wanted the freehold which was for much more than just a football arena. But they wanted it without the mortgage to make lots more money doing so. Fast forward to failed court cases and the white elephant turning grey. CCC losing money to court cases that brought Wasps to Coventry. Now it looks to me that SISU will stick around in the hope of Wasps failing. Then they could take over the arena. And if it does happen I wonder if they would charge us the average rent that they kept saying about.

Bang on. They will now just try and hope Wasps to go tits up. In the meantime, CCFC will keep going backwards.

 

[Thenose]

Option 17 - drag WASPS into the next round of legal proceedings in an attempt to distress them. Legal case fails and WASPS put the rent up as a precautionary plan to pay for future legal cases brought against them...

 

[Godiva]

Get your head out of Sisu's arsehole for a minute, if they could of got investors do you not think they would have done it by now. With where the team is going and councils saying no all around us, what business in their right mind would want to invest in a stadium for us in Farmer Giles's shitty cow field? With our dwindling fanbase and lack of direction, who the fuck would want to stay in a hotel next to a shed? The Ricoh hardly gets busy and I bet that would attract more than Legoland.

As for it being way to soon to shoot the idea down, what the shitting hell are you on about? It's not like they have just sprung this new stadium idea on us is it? I think all the shite we've been fed for ages now pretty much makes us experts in being able to shoot the idea down, don't you?

I know there are plenty experts in shooting down ideas on this forum. But they have no influence on whether a new stadium will be build or not.
There is no evidence that the stadium will ever become a reality, but there's plenty of logical reasons why it should providing the business plan is sound.

You suggest that because there's no named investors after two years, that is evidence the stadium will not be build. It's not. Investors won't be invited until land has been identified, conditionally purchased and a prospect been drafted.

You can call it a shed, a Lego land or whatever, but it's only angry noises without foundation until plans are revealed.

 

[hill83]

"In our just outside Coventry maybe not sure yet I'll tell you in three weeks HOMES!"

Sick to death of this.

 

[hill83]

it's only angry noises without foundation until plans are revealed.

Yes indeed. Probably not what you meant, but yes it is exactly this from Fisher.

 

[ecky]

Good sensible post (just for a change on this site!).

They can and will make it happen, at least that's what I believe.

For your info the moon isn't made of cheese...