After the loan and mortgage is paid for the RICOH... (1 Viewer)

[Mucca Mad Boys]

... And ACL start making profit, which would go to their shareholders, my questions are: where will that profit go AND also, how will Coventry as a city benefit if ACL makes profit?

I personally don't see us normal folk benefitting!

 

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[Baginton]

Our council tax was frozen, we should be thankful, apparently

 

[Flying Fokker]

CCC are getting a fair percentage interest on the 14 mill. I imagine the Council share of ACL (do they have a share) will be used to fill gaps in budget. There will be plenty of those in 2045.

 

[torchomatic]

I also see that ACL may lose out on the Rugby World Cup in 2015 too. Another blow to them if they eventually throw us out.

 

[oldskyblue58]

... And ACL start making profit, which would go to their shareholders, my questions are: where will that profit go AND also, how will Coventry as a city benefit if ACL makes profit?

I personally don't see us normal folk benefitting!

As with any limited company the profits will increase the company's reserves (or net assets). Those reserves can be used to develop facilities, or reward stakeholders. If a dividend is paid then as shareholders the city council will receive funds that will be added to the revenue that the CCC can use to pay costs.

There is also a mechanism by which the council gets a super profit if profits are over something like 3.75m. However that may have changed with the new loan arrangement.

In short if ACL pay a dividend then the CCC benefit and in turn so do we although whether we actually notice it is debateable because it is unlikely to be 10's of millions every year.

 

[ashbyjan]

... And ACL start making profit, which would go to their shareholders, my questions are: where will that profit go AND also, how will Coventry as a city benefit if ACL makes profit?

I personally don't see us normal folk benefitting!

ACL are making a profit already and those profits are ploughed back into the development of the facilities. No profits are taken out of the business by either set of owners as that is not why they have invested - the project for them is about regeneration of that area of Coventry and creation of jobs. I would have thought with your anti-capitalist views you would be applauding such altruism.

 

[torchomatic]

Regeneration, great word. But what does it mean for that part of Coventry? What jobs can be created in that area? Will losing the football club hurt those prospects. Will giving SISU a share in the stadium increase the prospects?

ACL are making a profit already and those profits are ploughed back into the development of the facilities. No profits are taken out of the business by either set of owners as that is not why they have invested - the project for them is about regeneration of that area of Coventry and creation of jobs. I would have thought with your anti-capitalist views you would be applauding such altruism.

 

[grego_gee]

ACL are making a profit already and those profits are ploughed back into the development of the facilities. No profits are taken out of the business by either set of owners as that is not why they have invested - the project for them is about regeneration of that area of Coventry and creation of jobs. I would have thought with your anti-capitalist views you would be applauding such altruism.

Feck orf!
ACL are taking rent off CCFC that is used to pay their lease, the lease in turn is paid to CCC who use it to pay the mortgage!
ACL & CCC keep trying to say they don't get a penny off CCFC and won't do until the loans are paid off. BULLSHxT!
If I gave you money to pay your mortgage would it count as money?

FFS!

imp:

 

[ashbyjan]

I feel you are a trifle confused. The question was about profit - profit is the amount of money you have left from the money you receive from your clients (including CCFC) after you have paid all your expenses (including your mortage/loan) - this profit is then either given to the owners of a company as divided or used to improve the business. ACL's owners do not take a divided, the profits are put back into the business to improve it and allow it to grow. If you don't believe me I suggest you contact companies house where you will be able to download a copy of the accounts ACL filed last week.

Also I have never seen any quotes from ACL stating they don't get a penny off CCFC (even with the rent strike they are receiving match day fees) and certainly don't see any correlation between not receiving money from CCFC and the loans being paid off.

 

[Desperados]

I also see that ACL may lose out on the Rugby World Cup in 2015 too. Another blow to them if they eventually throw us out.

I'd more see it as a blow to Coventry if we lose out.

 

[TheRoyalScam]

Feck orf!
ACL are taking rent off CCFC that is used to pay their lease, the lease in turn is paid to CCC who use it to pay the mortgage!
ACL & CCC keep trying to say they don't get a penny off CCFC and won't do until the loans are paid off. BULLSHxT!
If I gave you money to pay your mortgage would it count as money?

FFS!

imp:

Oh dear, more inane drivel, and another one to put on the 'ignore' list (along with the clueless Grendel, Torchomatic, CovCity4Life, SBTaylor........etc etc).

 

[torchomatic]

Agree, so just think of how much money the City will lose if they don't have a professional football club.

I'd more see it as a blow to Coventry if we lose out.

 

[torchomatic]

I've edited your post for clarity.

Oh dear, more inane drivel, and another one to put on the 'ignore' list (along with those who don't agree with the rest of us; Grendel, Torchomatic, CovCity4Life, SBTaylor........etc etc).

 

[rupert_bear]

Oh dear, more inane drivel, and another one to put on the 'ignore' list (along with the clueless Grendel, Torchomatic, CovCity4Life, SBTaylor........etc etc).

Why don't some of these cretins do a little research before diving on their keyboards

 

[grego_gee]

I feel you are a trifle confused. The question was about profit - profit is the amount of money you have left from the money you receive from your clients (including CCFC) after you have paid all your expenses (including your mortage/loan) - this profit is then either given to the owners of a company as divided or used to improve the business. ACL's owners do not take a divided, the profits are put back into the business to improve it and allow it to grow. If you don't believe me I suggest you contact companies house where you will be able to download a copy of the accounts ACL filed last week.

Also I have never seen any quotes from ACL stating they don't get a penny off CCFC (even with the rent strike they are receiving match day fees) and certainly don't see any correlation between not receiving money from CCFC and the loans being paid off.

I am not confused!
I am am amazed that you can be draw in to the spin from acl/ccc when you are a leading light for sbt!
They make the distinction between funds and profit!
I am not drawn into it!
Money is money, profits are whatever the accountant can't hide from the taxman!

imp: