Oh sugar, if this happens it is really bad news.
Its the council who are responsible for the structure of the Ricoh ownership and how CCFC are in that! Or out of it! god bless them!
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Grendel and grego are obviously happy with the 70million debt soon to be 100million that we will be paying interest and fees on making us uncompetitive on the pitch.
Please explain your reasoning for this ?
Appleton is the administrator, it's his job to get the best deal for creditors. Nothing more or less than that. The future of the club is none of his concern.brenda guilford saying appleton done minimal took highest bidder then thrown it to the FL to deal with not looked at long term future of club, long way to go in administration still and ACL could still contest the admistration, new owners have to prove thye have capital and plans to play in coventry, credit rating of new company not good can be improved by putting money in
Your silence is deafening guys you normally have so much to say ?
Appleton is the administrator, it's his job to get the best deal for creditors. Nothing more or less than that. The future of the club is none of his concern.
Joy Seppala on page 3
brenda guilford saying appleton done minimal took highest bidder then thrown it to the FL to deal with not looked at long term future of club, long way to go in administration still and ACL could still contest the admistration, new owners have to prove thye have capital and plans to play in coventry, credit rating of new company not good can be improved by putting money in
To your delight.PH4 said in his statement he'd met Appleton, had no problem with him and he'd done everything by the book. Not sure why people are having at go at Appleton. He did his job and SISU were always going to get it.
PH4 said in his statement he'd met Appleton, had no problem with him and he'd done everything by the book. Not sure why people are having at go at Appleton. He did his job and SISU were always going to get it.
But we dont own it. And nor should we own it. The council coffers are not for sports arenas. The club should own the ground no matter how much we collectively dislike the thought that is how it should be ... No matter who wants to buy the club have you not noticed them all saying they want to buy the ground too??
Joy Seppala on page 3
To your delight.
Not at all. Take your head of your arse and read that ive said on many occasions that id be happy for sisu to leave tomorrow. My crime has always been my criticisms of acl which it seems cant be tolerated.
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So no blame attaches to CCFC who failed to finance the stadium build but the council who pumped in nearly £80M and of which only £21M is being repaid are at fault..
We are in denial about who owns this stadium, it is essentially the people of Coventry and we shouldn't let a hedge fund steal it. :facepalm:
Pumped in nearly £80million?
Absolute bollocks.
Whatever the amount , whoever paid for it , we still shouldnt let a hedge fund steal it !
thats true but brendon guilfoy a FOOTBALL Administrator said that appleton does not seemed to have looked at the bigger picture he has done the minimal and left the FA to deal with the rest of the shit
not having a go just repeating what was said and as stated before he is not afootball administrator so may of not looked at the bigger picture
CCFC started the development of the stadium, the council stole it off us in the first place!</p>
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My word, have you been to the police with this shocking information?
This changes my whole opinion now, I never realised the council forcibly took ownership of the Ricoh against the clubs will.
Why have you kept this information to yourself all these years? Has the secret police division of Coventry Council threatened you as well?
Certainly not Sisu though is it?The development was started by CCFC who could not find the resources to complete it.
The council took it over.
I am not sure who originally purchased the site but it was certainly a planning problem for the council, a gasworks with contaminated land. It cost £24m and needed £17m to be spent on decontamination. Because it was a gasworks which was I believe originally run by the town council, historically they had some responsibility for this contamination as the original providers of "Town gas" manufactured from coal. By the time of its disposal it was I assume under the ownership of BGas who were by then using natural gas from the North sea and not causing pollution. Normal expectation for decontamination of a site is that the polluter pays.
The build was financed largely by the sale of a portion of the site to Tescos who paid £60m for their part of the site which was inflated because of the added value from the development and draw of the football arena.
Another contribution came from a 50 year lease for the finished Arena sold to ACL for £21m.
The final build cost was £65m, but that includes casino, hotel & exhibition spaces that are of no interest to CCFC. The total cost of the project was £118m including cost of land and fees etc.
Despite being one of the original polluters and arguably responsible for the £17m decontamination costs, the council only invested a nominal £10m, less than the cost of decontamination.
The majority of the cost, £81m came from the Tescos land sale and the sale of the lease to ACL for the finished complex.
That £81m was an increase in the value of the land due to its development as a commercial centre.
It is arguable who "owns" or can claim responsibility for that increase in value.
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Certainly not Sisu though is it?
The development was started by CCFC who could not find the resources to complete it.</p>
<p>The council took it over.</p>
<p>I am not sure who originally purchased the site but it was certainly a planning problem for the council, a gasworks with contaminated land. It cost £24m and needed £17m to be spent on decontamination. Because it was a gasworks which was I believe originally run by the town council, historically they had some responsibility for this contamination as the original providers of "Town gas" manufactured from coal. By the time of its disposal it was I assume under the ownership of BGas who were by then using natural gas from the North sea and not causing pollution. Normal expectation for decontamination of a site is that the polluter pays. </p>
<p>The build was financed largely by the sale of a portion of the site to Tescos who paid £60m for their part of the site which was inflated because of the added value from the development and draw of the football arena. </p>
<p>Another contribution came from a 50 year lease for the finished Arena sold to ACL for £21m. </p>
<p>The final build cost was £65m, but that includes casino, hotel & exhibition spaces that are of no interest to CCFC. The total cost of the project was £118m including cost of land and fees etc.</p>
<p>Despite being one of the original polluters and arguably responsible for the £17m decontamination costs, the council only invested a nominal £10m, less than the cost of decontamination.</p>
<p>The majority of the cost, £81m came from the Tescos land sale and the sale of the lease to ACL for the finished complex.</p>
<p>That £81m was an increase in the value of the land due to its development as a commercial centre.</p>
<p>It is arguable who "owns" or can claim responsibility for that increase in value.</p>
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Ive read that all the way through. Ive seen Acl, Tescos and the Council put money in, yet the 'victim' as you claim put in nothing.
I have not claimed anything, nor said anyone is a victim.</p>
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You claim the council stole the project. Whoever they stole it off would surely be a victim?
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