Grendel:
Many of us support the council's action because we could easily envisage the following scenario:
1. ACL file for bankruptcy due to cash flow problems caused largely by SISU's non-payment of rent.
2. As a sitting tenant, SISU buy the lease from the administrator relatively cheaply.
3. SISU sell the lease to a third party who plans to make money from the existing development plus develop the surrounding land.
4. CCFC remain a sitting tenant paying a high rent to the new owner.
5. SISU put CCFC into administration and exit the scene.
Presumably as a CCFC fan, you would not wish to see this scenario unfolding right? Then either you think the above scenario is completely unrealistic or you do not care about the future of CCFC. Please enlighten us as to which is the case as many of us are concerned about SISU's true intentions.
The Alan Higgs Centre is completely separate from the Higgs Charity, ACL, the Ricoh Arena etc. It is managed by Coventry Sports Foundation and was built to provide a community sports and leisure centre in that part of the City.
It has been the home of the CCFC Academy since 2003. Seppala/Fisher etc have not paid the charges due.
edit:http://www.covsf.com/
We are no closer to extiction than 5 years ago. I have never "condoned" or supported SISU either and your rather juvenile asides are becoming tiresome.
Calm down and check out my new number plates
So with what justification are Sisu not paying for using the facilities at the Alan Higgs centre?
Anyone care to defend them on that point?
Whitehall make the cuts but the Council wholly decides where the axe falls, so don't try and make out that CCC are whiter than white. Get rid of the Chief Exec. That would save a few libraries and youth centres.
I no way would i suggest that the council is whiter than white. The point is £60 million cuts are imposed by whitehall and yes the council do have to decide what and where the cuts are applied. The trouble is where ever they make a cut whoever it affects will say it is the wrong place to make a cut.
How can the council afford to invest £14 million when making these cuts? They are borrowing the money at a preferential rate and charging ACL a slightly higher rate which is still below what yorkshire bank was charging.
So the £14million does not affect the council budget
Like most councils you'll find they are sitting on a big piles of cash - so yes they can do this sort of thing and yes they could use it to subsidise services if they wanted I guess
Shrewed move!
Removes completely any threat of ACL going bust.
Now it's up to sisu to show their hand.
Why are ACL as a private company OK to be bailed out by the taxpayer but CCFC are not?
yes they do have 'piles of cash to sit on' they are known as reserves and they have to be kept to a certain amount by law, so unfortunately they cannot use them to susidise services
Why are ACL as a private company OK to be bailed out by the taxpayer but CCFC are not?
Why are ACL as a private company OK to be bailed out by the taxpayer but CCFC are not?
In other words OSB58 the council/ACL have well and truly shafted SISU !!
And also shows what a load of tosh and how ingenuine waggots statement regarding CCFC working closer with the community was.
The Higgs centre is a facility for the benefit of the community, would love to know how not paying the charges due to the Higgs centre enhances the community.
Shrewed move!
Removes completely any threat of ACL going bust.
Now it's up to sisu to show their hand.
Why are ACL as a private company OK to be bailed out by the taxpayer but CCFC are not?
Coventry City 1 Sisu Mayfair 0
I'm not expert on council funding but what would be the point of having reserves that had to be kept by law at a certain level? I mean obviously you couldn't use them for anything could you?
I'm no expert either but would guess they need a certain level in case of emergencies, disasters and so on? Same reason people (well most at least) keep savings in the bank. Of course if for some reason they had to be used then I imagine they would need to be topped up again at some point.
Actually I didn't say anything about it being 'ok' or not.
I said it was 'shrewd'.
Which it is.
A move I never saw coming, but then I am not a financial expert. A move that none on this board mentioned as a possibility, and there are a couple with financial expertise here.
When somebody does something completely unexpected, you need to recognise that.
A lot is being said about this action protecting the councils investment, but didn't it also save Yorkshire Bank from a potential loss?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?