Blimey... Didn't quite expect that character assassination.
I naively thought id ask the question in the hope I might get an answer to my questions direct from horses mouth do to speak.
They may seem like obscure questions to some - but I believe they are fundamental to ascertaining the motives of some of the parties in this dispute.
I struggle to see the viability of ACL as a business without CCFC being at Ricoh, and as such think we have been misled about this particularly through the CET. Which if true, then questions the motives of ACL and directly from them CCC.
Hence my questions.
Not sure why people seem so offended by them...
What a warm reception they would get/To be fair though if JS TF or ML had the courtesy to come on here and answer fans questions. My posting history would be full if questions to them.
What a warm reception they would get/
Stuart Linnel came on here and got called allsorts then got told to FO u cnut, so he did, can imagine them 3 hanging around on here for a session of verbal!
No.
A different Higgs
Have to admit though, with Higgs as related to ACL, Higgs as related to Allard way, then Derek Higgs the former director... it's pretty easy to forget which Higgs hat is on when referring to Higgs at any one time!
Perhaps Rob S should sort out a few meetings so he can say he's spoken with the Higgs/Higgs/Higgs side of it all too.
Blimey... Didn't quite expect that character assassination.
I naively thought id ask the question in the hope I might get an answer to my questions direct from horses mouth do to speak.
They may seem like obscure questions to some - but I believe they are fundamental to ascertaining the motives of some of the parties in this dispute.
I struggle to see the viability of ACL as a business without CCFC being at Ricoh, and as such think we have been misled about this particularly through the CET. Which if true, then questions the motives of ACL and directly from them CCC.
Hence my questions.
Not sure why people seem so offended by them...
Not sure anyone took offence.
Just as I am sure you can imagine when someone posts only a couple of times since joining. Each time they are only questions regarding PWKH and the Higgs charity.
Also like with this one the questions are quite specific and suggest you have a very keen interest.
They don't strike me as the burning questions of major significance, when your club wants to follow a plan leading to us borrowing 75 million.
Blimey... Didn't quite expect that character assassination.
I naively thought id ask the question in the hope I might get an answer to my questions direct from horses mouth do to speak.
They may seem like obscure questions to some - but I believe they are fundamental to ascertaining the motives of some of the parties in this dispute.
I struggle to see the viability of ACL as a business without CCFC being at Ricoh, and as such think we have been misled about this particularly through the CET. Which if true, then questions the motives of ACL and directly from them CCC.
Hence my questions.
Not sure why people seem so offended by them...
What's wrong with him asking the questions after pwkh was on here yesterday?
Between this and the other thread some people's agendas are really starting to shine through
What's wrong with him asking the questions after pwkh was on here yesterday?
Between this and the other thread some people's agendas are really starting to shine through
What's wrong with him asking the questions after pwkh was on here yesterday?
Between this and the other thread some people's agendas are really starting to shine through
I just don't understand why any self respecting CCFC fan would be more concerned about ACL's accounts than CCFC's. All this particular poster seems to be interested in is ACL, hence my question about him being on the wrong forum.
Having said that perhaps PWKH could go on CWR and promise this poster a forum on the accounts and then promptly arrange it. Much like ML has done, he's a man of his word you know.
You don't see the link between CCFC accounts and those of ACL?
The whole crux of the dispute is centered around revenue streams that currently ACL access, and CCFC cannot. And you can't see the link??
You don't see the link between CCFC accounts and those of ACL?
The whole crux of the dispute is centered around revenue streams that currently ACL access, and CCFC cannot. And you can't see the link??
Tony does that also count then for the numerous other threads regarding ACL and there accounts? As you said why should "any self respecting CCFC fan" care about a business that has no ties to the Club??
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So ACL have the access to revenue and in your words it's still not a viable business. So using your logic you are saying there is no benefit to ccfc in having access to revenue if they return to the ricoh.
Let me quantify my first question. From scouring the internet I'm pretty certain that Isle of Capri had to pay a 'fine' to leave the Ricoh Arena complex as they would have broken their lease agreement. I can't 'prove' it so I wanted to ask.
If it is true, then a multitude of questions stem from that fact, and questions that are important in this dispute.
How much was paid? (From reading Twitter it would seem it could be as much as £7m)
If taken as a lump sum - why was it not in their published accounts from that time period?
If ACL are spreading it out in their accounts (which is a perfectly legal and common practice in business) then what is the distribution? (Again from reading Twitter it may be done at £1m pa - having an impact on the perceived viability of ACL as a business)
If ACL is a self sufficient business that does not need a football club in the Ricoh complex - then why was the business in financial distress? (bearing in mind this 'distressed' period was before CCFC stopped paying rent)
If ACL had this money from Isle of Capri and were not distributing it in their yearly accounts, then why did they need to negotiate with SISU to sell part of their business? And when that turned sour why did CCC need to intervene and buy out their mortgage?
Likewise, lets say it is not true. That brings itself questions that are important too.
How does a partner in the Ricoh complex just walk away from a lease without penalty? Why would some leaseholders be afforded this and not all?
ACL negotiated a pretty brutal lease agreement when CCFC first went to Ricoh, do you not think they would have had similar in place for other partners?
How did someone that was part of ACL not realise that when they went hell for leather to put CCFC in admin, that in doing so it would immediately negate the lease agreement they had worked so hard to protect, and likewise jeopardise their opportunity to not only get back their money, but protect future revenue.
Did the deal that ACL set up with Compass have a break clause? How the hell are they going to pay a catering/event contract when no fans ever use the stadium?
Every single question here goes some way into understanding the motives of ACL.
What do they want?
Why didn't they sign the CVA if the financial outcome would be the same for them?
Why was it that within their own organisation they couldn't even agree on their approach to the CVA?
There is also the question more generally of information. I don't have access to have any secret information. Aside from the reports in the CET and some rooting about on Google, I have only read 3 specific documents relating to CCFC and this dispute.
They are the Arena Cabinet Report on the Ricoh build, the Statement of Facts that was produced for the JR application and the published transcript from last weeks court case. Every single one of these is freely available for all fans to read. Yet it seems to me that plenty of people don't even know about their existence, never mind seening these documents.
Why is this the case? Why hasn't the CET published more information from these? Why is there not a single fans group that has shared these documents with their members? If I was running the SBT I'd have damn well made sure all of my members could have access to all this. Why is only selected information being drip fed into the general domain for the bulk of fans?
Why is he on the wrong forum when pwkh was on here yesterday?
Who are you to tell people what they can and can't post?
Thanks for the advice Tony - but I think i'm going to ignore it. If you're not interested in my questions, I'm not forcing you to respond. I do however find it intriguing that you seem to have got yourself in a tizz about this though.
As for asking Simon Gilbert to investigate this for me - I assume you are being ironic? The CET is probably the biggest hurdle we have in this dispute. After all bad news sells papers doesn't it?
If fans can only read the CET approved (vetoed by a certain G Hoffman) version of events no wonder there is a lack of information available to people.
Yes, you're on the wrong forum. May I suggest you either contact ACL directly or take your issues up with Simon Gilbert at the CET and let him do the investigation for you. You clearly have no idea where to start otherwise you wouldn't be posting on a CCFC forum.
Why is he on the wrong forum when pwkh was on here yesterday?
Who are you to tell people what they can and can't post?
Thanks for the advice Tony - but I think i'm going to ignore it. If you're not interested in my questions, I'm not forcing you to respond. I do however find it intriguing that you seem to have got yourself in a tizz about this though.
As for asking Simon Gilbert to investigate this for me - I assume you are being ironic? The CET is probably the biggest hurdle we have in this dispute. After all bad news sells papers doesn't it?
If fans can only read the CET approved (vetoed by a certain G Hoffman) version of events no wonder there is a lack of information available to people.
Press Release said:ST. LOUIS, April 23 /PRNewswire-FirstCall/ -- Isle of Capri Casinos, Inc. (Nasdaq: ISLE) (the "Company" or "Isle") today announced that they have entered into a definitive agreement and completed a transaction with The Rank Group PLC ("Rank") to sell the Company's casino asset and take over the existing leased premises at the Ricoh Arena in Coventry, UK.
The Company made the announcement after previously indicating its intention to exit its international operations in order to focus on continuing to improve operating results and increase free cash flow from its domestic property portfolio. The total price for the acquisition by Rank is pounds Sterling 650,000, or an approximate current U.S. value of $940,000. In conjunction with the transaction, the Company also executed a buy-out of the Company's obligations under the Coventry casino lease for pounds Sterling 7.7 million, or an approximate current U.S. value of $11.2 million, and releases Isle from its parent guaranty under the lease.
Yeah really not sure you can pull that with an organisation that employs Les Reid. Rather than trying to sully others, why not prove your own credibility.
Also, I think your net scouring needs some work. First result for "Isle of Capri exit Arena Coventry"
http://www.prnewswire.com/news-rele...sale-of-facility-in-coventry-uk-61922317.html
I'm no contract lawyer, nor am I an accountant, but if that went to ACL then I'd imagine their turnover couldn't have been less than that £7.7m surely? Sounds from that like it's gone to Rank, but I could be wrong and am happy to be proven so.
Not sure why ACL would profit from a third party being bought out though.
Yeah really not sure you can pull that with an organisation that employs Les Reid. Rather than trying to sully others, why not prove your own credibility.
Also, I think your net scouring needs some work. First result for "Isle of Capri exit Arena Coventry"
http://www.prnewswire.com/news-rele...sale-of-facility-in-coventry-uk-61922317.html
I'm no contract lawyer, nor am I an accountant, but if that went to ACL then I'd imagine their turnover couldn't have been less than that £7.7m surely? Sounds from that like it's gone to Rank, but I could be wrong and am happy to be proven so.
Not sure why ACL would profit from a third party being bought out though.
Perhaps because CCFC are the vehicle that generates the revenue in part for ACL. I didn't say ACL wasn't a viable business if CCFC are there - although it is a pretty shitty deal for CCFC -and that would be the same if SISU or anyone else owned the club.
Totally agree Nick, they areWhat's wrong with him asking the questions after pwkh was on here yesterday?
Between this and the other thread some people's agendas are really starting to shine through
Yeah really not sure you can pull that with an organisation that employs Les Reid. Rather than trying to sully others, why not prove your own credibility.
Also, I think your net scouring needs some work. First result for "Isle of Capri exit Arena Coventry"
http://www.prnewswire.com/news-rele...sale-of-facility-in-coventry-uk-61922317.html
I'm no contract lawyer, nor am I an accountant, but if that went to ACL then I'd imagine their turnover couldn't have been less than that £7.7m surely? Sounds from that like it's gone to Rank, but I could be wrong and am happy to be proven so.
Not sure why ACL would profit from a third party being bought out though.
The conclusion that you have come to looks good to me. If ACL had got the money they could have paid half of the mortgage off.
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