clint van damme
Well-Known Member
don't agree, people should post rumours, I enjoy reading them. I think most people are sensible enough to not take them too seriously.
48 hours away from expulsion / New Ricoh Talks! (6 Viewers)
- Thread starter Voice_of_Reason
- Start date
don't agree, people should post rumours, I enjoy reading them. I think most people are sensible enough to not take them too seriously.
Johnnythespider
Well-Known Member
Is your username meant to be ironic ?
Corrado
Well-Known Member
Again, I will pass on what ever the fuck I want, and Joe Cole.. I would say 99% of Cov fans wanted him here, if you didn’t it says a lot about you!
No need to panic we have until May29th I think it is .
ccfcway
Well-Known Member
clint van damme
Well-Known Member
the club has just tweeted that the Butts ticket office will be closed Monday and Wednesday which is curious as they don't currently have anything to sell us?
Are they expecting to be doing some business next week?
Are they expecting to be doing some business next week?
Terry Gibson's perm
Well-Known Member
Sky Blue Harry H
Well-Known Member
Agreed. Bit of a strange one. Staff there will effectively have nothing/little to do whilst there is this impasse.
no_loyalty
Well-Known Member
Yes, very strange unless an imminent announcement is on the way?
Terry_dactyl
Well-Known Member
I guess because anybody interested in buying tickets from the ticket office that doesn’t have tickets to sell, would know that it doesn’t have any tickets to sell.
Great_Expectations
Well-Known Member
Don’t shoot the messenger, I have no evidence or real basis for this, but I’ve heard from 3/4 different sources that SISU are negotiating for 49% of the Ricoh, which was initially looking positive but potentially not anymore.
I don’t know how that works in reality or any details, but as I’ve heard it from a few sources I felt it worth sharing.
I don’t know how that works in reality or any details, but as I’ve heard it from a few sources I felt it worth sharing.
D
Deleted member 5849
Guest
I won't shoot you, but nor do I believe it
I suspect their sources are all the same origin.
skybluetony176
Well-Known Member
You would think that there’s got to be a reason it’s taking so long. Surely if it was just roll forward another season that would be a pretty simple process so I’m assuming that something longer term is being negotiated with more access to revenue.
D
Deleted member 5849
Guest
It's not really taking that long though is it, if they only started talking a couple of weeks ago.
Does make you wonder, however, what happened to the claim it had to be done quickly because the heads of terms with another club would expire otherwise. We must be fairly confident though as we need to sell some season tickets *eventually*
Does make you wonder, however, what happened to the claim it had to be done quickly because the heads of terms with another club would expire otherwise. We must be fairly confident though as we need to sell some season tickets *eventually*
oldskyblue58
CCFC Finance Director
I agree with you i don't know how that works in reality either. I think it is just another internet rumour with no real substance. Why would SISU want 49% it gives them no control not even sure it gives them any right to income but it would cost a significant sum. It is unlikely that SISU would offer anything like the value wasps would want or need. They (wasps) certainly wouldn't want to relinquish any income related to rugby. The rumour makes no sense to me at all.
Simply do not need to own "the Ricoh" (whatever that means you own) to gain access to income
I think the only deal on the table is a short term rental one hopefully with access to match day incomes. Why that takes so long to sort out i can only guess.
skybluegod
Well-Known Member
Well i would suggests the deadline to get deal done is likely the day of the rearranged EFL meeting. Which is probably the date the heads of terms expire.
oldskyblue58
CCFC Finance Director
think the heads of terms were in place before the EFL meeting was postponed so the two might not coincide. But heads of terms are only an agreed intention and usually not binding on either party. By the 29th i suspect the EFL will want to see signed contracts. To be honest though i am not sure why the HoT's are time critical other than with the EFL deadlines set. The other club is always going to take precedence in terms of arranging games etc so leaving us to fit in around that if a ground share happens. Just seems to be a way to increase pressure, concern and panic amongst the fans, i doubt it would have much effect on wasps they already own a ground and the ability to look for alternative incomes - of course depends if that is possible, but we have been here before when we were told there were no alternatives
HuckerbyDublinWhelan
Well-Known Member
Could I possibly be that for 50/50 we’d need to buy into the debt?
If not SISU take 49% debt free but cede control, and get 100% football income and 49% split revenue? Wasps keep rugby revenue?
Not saying it would be cheap like, but that would be fair
Great_Expectations
Well-Known Member
I won't shoot you, but nor do I believe it
Thanks!
Yes, I initially thought the same but after a little more digging I know at least two of the sources are different, one of who works for the club. Again, not intending to fan the flames of internet rumours, only sharing what I’ve heard.
And for the record I don’t see how it could work either!
oldskyblue58
CCFC Finance Director
The trouble with this rumour is that no one has been clear as to what "buying 49% of the Ricoh" actually means.
Is it incomes shared 49% if so which incomes?
Is it 49% of the net profit from the match day incomes ?
Is it buying 49% of IEC Experience Limited which is the catering and events company ?
is it 49% of ACL which owns IEC but also receives rent ?
is it 49% of the lease valued at £60m?
is it some brand new joint venture company to cover the relationship shared 49:51?
It all costs to varying degrees, and doesn't stop CCFC having to agree a rent. Pretty certain Wasps rugby pay rent so quite unlikely that CCFC would not
Also as nothing has been disclosed so far because of the non disclosure agreement in place how do these, i assume peripheral, people know? For them to know and to be spreading it far and wide jeopardises any agreement
Is it incomes shared 49% if so which incomes?
Is it 49% of the net profit from the match day incomes ?
Is it buying 49% of IEC Experience Limited which is the catering and events company ?
is it 49% of ACL which owns IEC but also receives rent ?
is it 49% of the lease valued at £60m?
is it some brand new joint venture company to cover the relationship shared 49:51?
It all costs to varying degrees, and doesn't stop CCFC having to agree a rent. Pretty certain Wasps rugby pay rent so quite unlikely that CCFC would not
Also as nothing has been disclosed so far because of the non disclosure agreement in place how do these, i assume peripheral, people know? For them to know and to be spreading it far and wide jeopardises any agreement
clint van damme
Well-Known Member
they certainly weren't binding in the case of CCC.
oldskyblue58
CCFC Finance Director
also wasps have given the "ricoh" as security to the bond 100%. If SISU are not going to be part of that security that means that wasps must find something to replace the 49% they are selling to make sure the bond is fully covered. Alternatively the proceeds of sale would need to be sufficient to pay down the bond to balance the security requirement. That would be early repayment of the bond so would not be £1 for £1 because the bond terms set a premium for early repayment currently around 5%. Wasps are not going to go out borrow more to do that so that means the sale proceeds would need to cover it. £35m x 49% x 1.05 = approx 18m proceeds but that ignores possible tax costs.
All that to buy in to something that doesn't make big profits in the first place and might not guarantee income?
All that to buy in to something that doesn't make big profits in the first place and might not guarantee income?
oldskyblue58
CCFC Finance Director
not in any HoT's unless there is a clause agreed within them that the terms will be. Which is why the whole thing about relying on "we agreed HoT's" is a nonsense - they were not binding on either side
SkyBlueDom26
Well-Known Member
Robins saying we should all be excited..
Now rumours that SISU are in negotiations to buy half the ricoh...
Are sisu now going to step up and invest more money in the team with more Rev generated from buying half the Ricoh?
Makes sense to me
Now rumours that SISU are in negotiations to buy half the ricoh...
Are sisu now going to step up and invest more money in the team with more Rev generated from buying half the Ricoh?
Makes sense to me
SkyBlueDom26
Well-Known Member
What have they said?
Liquid Gold
Well-Known Member
Let me guess, he's said
"After careful consideration of my position I've decided that supporting the team is the most pressing matter, for that reason I await the announcement of a deal to stay at the home of Coventry City, the Ricoh arena,and look forward to buying my season ticket"
Nick
Administrator
Basically just trying to stir something up.
Then his mate is using one of his weird accounts to try and stir it up some more. Judging by his previous comments on people who go to games and season ticket holders, he wont be rushing to get anything either. He can fuck off back to Cov Utd as well.
SkyBlueDom26
Well-Known Member
Still baffled to this day as to why they clapped the wasps bloke
HuckerbyDublinWhelan
Well-Known Member
Future post “wasps bending over to help the club again and yet again SISU refusing a fair deal.... 10 million a year is totally reasonable”
Massive tool