£4million to buy the Higgs share? (1 Viewer)

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Jimmy Hill's Chin

Well-Known Member
I read an article somewhere that the Higgs share in the Ricoh would be sold for £4million. Is this correct? If so, I know this is an enormous sum of money for most people (me included) but for many business people it would be chicken feed. Surely somebody would be interested in buying this share if it was properly advertised/marketed given the potential of the stadium and dare I say the untapped potential of the club that play in it?
 
A

ampthill_sba

New Member
More like £10m imo

If ACL can make a profit of (say) £1m per year...the business would be worth £20m and that's without the value of the land and stadium.
 
CJparker

CJparker

New Member
£4m sounds very low - anyone got any idea of the rateable value of the Ricoh? How is this linked to the value of ACL the company (I expect Ricoh value is far higher than ACL value, thanks to SISU shenanigans)
 
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LewSkyBlue

New Member
I have also heard its £4m ... as you say to an everyday person its a massive ammout of money. but in football terms its pittance. Couldnt buy a half decent player for that (premiership wise), let alone half of a football stadium.
 
torchomatic

torchomatic

Well-Known Member
Coundon said something about it the other day when he said the Trust could buy it maybe.
 
J

Jimmy Hill's Chin

Well-Known Member
LewSkyBlue said:
I have also heard its £4m ... as you say to an everyday person its a massive ammout of money. but in football terms its pittance. Couldnt buy a half decent player for that (premiership wise), let alone half of a football stadium.
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To be blunt, it is the cost of a five bedroomed house in Chelsea.
 
J

Jimmy Hill's Chin

Well-Known Member
torchomatic said:
Coundon said something about it the other day when he said the Trust could buy it maybe.
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Really don't want the Trust to buy it. What money do they realistically have? I want someone with some money to invest in the club. Many other clubs seem able to find someone so why can't we?
 
P

PWKH

New Member
Just before this gets out of hand: the Trustees have not discussed the sale of their shares since the negotiation with Ms Seppala and Sisu disappeared. Any talk of a value is just that: talk. What they have said is that they are willing to be part of a solution to the present crisis either by selling at a proper value to a new investor who can take the whole Arena project to the next level, or if there is no such investor in working with the City Council to keep growing the company by continuing to invest as we have done every year so creating growth and employment in Coventry.
 
T

Tonylinc

Well-Known Member
I thought that the value of the Higgs Trust share was £10 mill. BUT nobody is going to buy that share without an agreement to buy the ACL share as well. There is absolutely no value whatsoever in a half share of a loss making company. Without complete control nobody is going to come forward.
 
D

dongonzalos

Well-Known Member
PWKH said:
Just before this gets out of hand: the Trustees have not discussed the sale of their shares since the negotiation with Ms Seppala and Sisu disappeared. Any talk of a value is just that: talk. What they have said is that they are willing to be part of a solution to the present crisis either by selling at a proper value to a new investor who can take the whole Arena project to the next level, or if there is no such investor in working with the City Council to keep growing the company by continuing to invest as we have done every year so creating growth and employment in Coventry.
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Thanks.....
 
Grendel

Grendel

Well-Known Member
What does actually buying this share give the club? I assume they still have to pay rent to ACL and still have to negotiate revenues with them.
 
mattylad

mattylad

Member
Which reads that they are not interested in selling to the Trust or anyone else unless they are prepared to pump millions into the Ricoh! I just dont see CCFC having a future at the Ricoh unless attitudes towards CCFC being a part of the company running the arena change. Of course the Higgs trust deserve a fair price for surrendering its part of ACL back to CCFC however all these add ons cast my mind back to 24 million for f&b access
 
Flying Fokker

Flying Fokker

Well-Known Member
mattylad said:
Which reads that they are not interested in selling to the Trust or anyone else unless they are prepared to pump millions into the Ricoh! I just dont see CCFC having a future at the Ricoh unless attitudes towards CCFC being a part of the company running the arena change. Of course the Higgs trust deserve a fair price for surrendering its part of ACL back to CCFC however all these add ons cast my mind back to 24 million for f&b access
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Attitudes, in this case is all about politics. Previous owners had no concept of legacy. It was about the here and now and playing with their toy. Who sold Highfield Road. Why should the Council give anything to these businessmen? Safeguard the legacy? Back to that.
 
mattylad

mattylad

Member
Flying Fokker said:
Attitudes, in this case is all about politics. Previous owners had no concept of legacy. It was about the here and now and playing with their toy. Who sold Highfield Road. Why should the Council give anything to these businessmen? Safeguard the legacy? Back to that.
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and that would be great if they were saying no we are not selling we are protecting CCFC but actually what they are doing is holding any future owner to ransom that they can only buy a share if they also pump millions into the ricoh effectively its a gun to the head of CCFC. I just don't see a future for us at the Ricoh under the current arrangements.
 
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luwalla

Well-Known Member
whatever its for sale for.. if its for sale.. and whoever might be able to buy it.. the council still have to give their approval to anyone who wants to buy the charity share, so its never going to be an easy "here's your 4 million".. "thanks here is half share of ACL" deal
 
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rupert_bear

Well-Known Member
luwalla said:
whatever its for sale for.. if its for sale.. and whoever might be able to buy it.. the council still have to give their approval to anyone who wants to buy the charity share, so its never going to be an easy "here's your 4 million".. "thanks here is half share of ACL" deal
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Agreed, but it would be interesting to see the council's response for a "not for profit" fans group should they attempt to purchase that half share, perhaps a bit pie in the sky but it is the only way as i see it for proceeds from the Ricoh to go into the football club, by that i mean the team. A third party owner such as the American wouldn't guarentee that. An owner is an owner and would do as they feel fit.
 
C

CCFC PimpRail

New Member
Since people think ACL shouldn't make a profit from CCFC (or should even subsidize them), and they haven't been the best of tenants and don't currently seem have a long term aim to stay there, I'd like to hear ACL's exit plans. More concerts (might need council approval but the overall noise and disruption will be less), more exhibition space, or other sporting fixtures...?
It all sounds more exciting than what our football team can achieve....
 
mattylad

mattylad

Member
rupert_bear said:
Agreed, but it would be interesting to see the council's response for a "not for profit" fans group should they attempt to purchase that half share, perhaps a bit pie in the sky but it is the only way as i see it for proceeds from the Ricoh to go into the football club, by that i mean the team. A third party owner such as the American wouldn't guarentee that. An owner is an owner and would do as they feel fit.
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What better way for the people of Coventry to be a part of the Ricoh than to own 50% of the company running it? There are many ways in which such a deal could be structred to protect CCFC and ACL but the crux will always be that ACL only want someone who is going to invest millions around the Ricoh because it helps their own business aims and CCFC and its supporters be damned. ACL will of course argue that only by investing in the business around the Ricoh will CCFC be succesful, but that is not true because lots of other clubs are now being ran succesfully without such an external financial onus being placed on its owners.
 
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luwalla

Well-Known Member
mattylad said:
What better way for the people of Coventry to be a part of the Ricoh than to own 50% of the company running it? There are many ways in which such a deal could be structred to protect CCFC and ACL but the crux will always be that ACL only want someone who is going to invest millions around the Ricoh because it helps their own business aims and CCFC and its supporters be damned. ACL will of course argue that only by investing in the business around the Ricoh will CCFC be succesful, but that is not true because lots of other clubs are now being ran succesfully without such an external financial onus being placed on its owners.
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totally agree.. and when i say ACL, i mean the council
 
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