Announcement regarding Ricoh tomorrow (1 Viewer)

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J

jon92

New Member
Statement Tomorrow.
According to the BBC, a statement regarding Coventry City's future at the Ricoh Arena will be announced tomorrow.
The twenty one deadline set by Arena Coventry Limited in which City and their owners SISU must either pay the £1.1m owed rent or sort out a deal in order to avoid being wound up, passed by yesterday.
The only thing City have said on the subject in the last few days was a Christmas Statement from SISU boss Joy Seppala and a statement saying how little Doncaster Rovers pay for their 10,000 capacity Keepmoat Stadium, whilst ACL have that there has been no agreement and talks have stalled yet again.
 
D

dongonzalos

Well-Known Member
I am guessing they have been left with no choice but apply for the winding up order
If Joy didn't see it as important enough to stick around to negotiate
 
J

jon92

New Member
dongonzalos said:
I am guessing they have been left with no choice but apply for the winding up order
If Joy didn't see it as important enough to stick around to negotiate
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More then likely if she can't be bothered to make time for them they ain't going to wait around
 
mattylad

mattylad

Member
Were leaving on a jet plane dont know when well be back again......or "given the current run of form the club finds itself in and the excellent feeling surrounding the club the council have agreed to extend the deadline until the end of this season however any stadium rent debate and back payments due will need to be paid prior to the first game of next season" or "you are the weakest link goodbye"

Pick any one of those three...... :whistle:
 
S

Sky_Blue_Vickie

New Member
dongonzalos said:
I am guessing they have been left with no choice but apply for the winding up order
If Joy didn't see it as important enough to stick around to negotiate
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I'm hoping for some good news - ever the optimist :)

Joy / Sisu must know the only way they are going to make any money is through promotion and success.

In past seasons I would have been more worried but I can't believe that they would have sacked thorn, made efforts to find right manager and not just cheap option in shaw, supported robins in loan market all resulting in the club being in the best position to reverse the downward trend and lift the general gloom and doom for many a year.

Why bother if not going to follow it through - could have kept thorn or shaw and just kept spiralling downwards. They seem to have learned from some of past mistakes and can't believe they want to go back to square one again. Whether sisu / joy are bothered and care about ccfc makes no difference - what they will care about is profit and currently promotion and success will give the fans and sisu what they want. Will they really throw that chance away?
 
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CJparker

CJparker

New Member
They will extend the deadline...ACL do not have the balls to stare down SISU with a winding up order
 
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Lord_Nampil

Well-Known Member
Winding up order does it help ACL out in the long term? Short term yes I guess it would, long term I am guessing not! The one thing that could force there hand is the bank, I am guessing that is the stumbling block!!!
 
L

Lord_Nampil

Well-Known Member
jon92 said:
Statement Tomorrow.
According to the BBC, a statement regarding Coventry City's future at the Ricoh Arena will be announced tomorrow.
The twenty one deadline set by Arena Coventry Limited in which City and their owners SISU must either pay the £1.1m owed rent or sort out a deal in order to avoid being wound up, passed by yesterday.
The only thing City have said on the subject in the last few days was a Christmas Statement from SISU boss Joy Seppala and a statement saying how little Doncaster Rovers pay for their 10,000 capacity Keepmoat Stadium, whilst ACL have that there has been no agreement and talks have stalled yet again.
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Keepmoat is 15,000 seater capacity that can be raised to 20,000 if needed!
 
W

wingy

Well-Known Member
Mediation or Arbitration is needed here now ,the only way to drag them to the table by the look of it .It has to be resolved and it has to be done soon ,based on sound reasoning and the facts pertaining to this individual case ,not some pie in the sky comparisons and ever shifting goalposts.
 
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Chrisbaker85PUSB

New Member
I thought the club was making the announcement not ACL so if that is the case it won't be about a winding up order. Beginning to think we might be leaving the Ricoh though. I hope I'm wrong.
 
H

Harry Grout

Guest
wingy said:
Mediation or Arbitration is needed here now ,the only way to drag them to the table by the look of it .It has to be resolved and it has to be done soon ,based on sound reasoning and the facts pertaining to this individual case ,not some pie in the sky comparisons and ever shifting goalposts.
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Spot on Wingy, couldn't give a monkey's about Doncaster, Ipswich or anyone else. Good job MR and the team are helping to take our minds off this soap opera for the mo.
 
C

Chrisbaker85PUSB

New Member
wingy said:
What made you think that?
I've read the statement again I Miss read it. I am concerned that ACL have already said that no agreement has been reached then there is this announcement tomorrow it points to bad news but as I said before I really do hope I'm wrong.
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S

SkyBlueBlood

Member
If a winding up order is issued the following will happen;

1. The bank will freeze all bank accounts.
2. Any loans / credit will become due immediately and in full.
3. The Football League will put us in a transfer embargo.
4. The Football League will issue a 10 point deduction.

So whilst the only benefit to ACL is that it draws SISU's attention there are huge negatives for CCFC and SISU. If ACL had an alternative tenant (which is not going to happen) I could see why ACL would issue the order. Even if a winding up order is issued it would then be challenged through the courts by CCFC and could drag on for a while, but don't forget the points 1 to 4 I mentioned.

My guess is that SISU will offer to pay what they think is a reasonable rent now to keep negotiations open without the winding up order. :thinking about:
 
S

sky blue zam

Member
pretty sure i heard a statement from acl at the end of the breakfast show this morning saying pretty much what was in yesterdays thread.

Sky Blues said:
Sky Blue Trust have just tweeted what they say is an ACL statement: "At the current time, no agreement has been reached with CCFC owners Joy Seppala and her Mayfair-based hedge fund Sisu over the outstanding rent issue. Arena Coventry Limited is disappointed at this and will be considering its legal options and the appropriate course of action.”
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S

Skyblue4u

New Member
Have you ever owed the council money? They aren't backwards in coming forward for it. Just about the worst people you can owe money to with some really nasty powers to ensure they get paid
 
Grendel

Grendel

Well-Known Member
SkyBlueBlood said:
If a winding up order is issued the following will happen;

1. The bank will freeze all bank accounts.
2. Any loans / credit will become due immediately and in full.
3. The Football League will put us in a transfer embargo.
4. The Football League will issue a 10 point deduction.

So whilst the only benefit to ACL is that it draws SISU's attention there are huge negatives for CCFC and SISU. If ACL had an alternative tenant (which is not going to happen) I could see why ACL would issue the order. Even if a winding up order is issued it would then be challenged through the courts by CCFC and could drag on for a while, but don't forget the points 1 to 4 I mentioned.

My guess is that SISU will offer to pay what they think is a reasonable rent now to keep negotiations open without the winding up order. :thinking about:
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We will not be issued with a 10 point penalty as we will not be in administration and will contest the order so don't talk rubbish.
 
Grendel

Grendel

Well-Known Member
Skyblue4u said:
Have you ever owed the council money? They aren't backwards in coming forward for it. Just about the worst people you can owe money to with some really nasty powers to ensure they get paid
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I'm sure sisu are terrified that mutton is on the case. The court costs will be born by the taxpayer.
 
CJparker

CJparker

New Member
Grendel said:
I'm sure sisu are terrified that mutton is on the case. The court costs will be born by the taxpayer.
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Mutton dressed as lamb!

ACL / CCC don't have the balls to face down SISU. If I was in their shoes, I would do everything possible to ensure immediate back-payment of all rents due, and scrap the over-generous offer already made, maybe make a second offer of 1/3 rent reduction together with an immediate winding up petition. I'd also see if there are any legal avenues for suits against private individuals (TF, Joy) or SISU directly as the controller of CCFC - some CCJs etc against their own accounts would make them sit up.

In short, I'd fight fire with fire and not get pushed around by the SISU bully-boys. CCFC have practically nowhere else to go, so no point in ACL bending over backwards to meet SISU#'s ridiculous demands.
 
Grendel

Grendel

Well-Known Member
CJparker said:
Mutton dressed as lamb!

ACL / CCC don't have the balls to face down SISU. If I was in their shoes, I would do everything possible to ensure immediate back-payment of all rents due, and scrap the over-generous offer already made, maybe make a second offer of 1/3 rent reduction together with an immediate winding up petition. I'd also see if there are any legal avenues for suits against private individuals (TF, Joy) or SISU directly as the controller of CCFC - some CCJs etc against their own accounts would make them sit up.

In short, I'd fight fire with fire and not get pushed around by the SISU bully-boys. CCFC have practically nowhere else to go, so no point in ACL bending over backwards to meet SISU#'s ridiculous demands.
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You wouldn't do any of the above. That costs real money so unless you put that onto the taxpayer.....

Mutton hasn't joined the "I won't go while sisu are there" by the way. Still goes to every game....
 
torchomatic

torchomatic

Well-Known Member
If you were in their shoes you'd wind up the club and dance a merry jig.

CJparker said:
Mutton dressed as lamb!

ACL / CCC don't have the balls to face down SISU. If I was in their shoes, I would do everything possible to ensure immediate back-payment of all rents due, and scrap the over-generous offer already made, maybe make a second offer of 1/3 rent reduction together with an immediate winding up petition. I'd also see if there are any legal avenues for suits against private individuals (TF, Joy) or SISU directly as the controller of CCFC - some CCJs etc against their own accounts would make them sit up.

In short, I'd fight fire with fire and not get pushed around by the SISU bully-boys. CCFC have practically nowhere else to go, so no point in ACL bending over backwards to meet SISU#'s ridiculous demands.
Click to expand...
 
Ccfc1979

Ccfc1979

Well-Known Member
samccov1987 said:
Has anyone seen official confirmation that there's an announcement tomorrow. Cov Mad said the bbc but I've not found any link to it.

What do we all think? A deals been agreed, they continue to talk or that a winding up petition has been posted.
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It's added on the end of the article saying we'll fight to compete for McGoldrick.
 
ccfcway

ccfcway

Well-Known Member
bored of this, ACl do something, or SISU do something

I wanna concentrate on the on field activities
 
C

Chrisbaker85PUSB

New Member
Just my opinion but I would be really surprised if an agreement has been reached. Maybe a compromise. I have also heard rumours that ACL and CCC can't afford to take CCFC to court over this. Don't know how true that is just rumours I guess. I also read the bit about us trying everything to keep mcgoldrick and it does say announcement due tomorrow but nothing from the club or ACL.
 
J

Jack Griffin

Guest
Skyblue4u said:
Have you ever owed the council money? They aren't backwards in coming forward for it. Just about the worst people you can owe money to with some really nasty powers to ensure they get paid
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Ha ha, try owing some VAT..
 
J

Jack Griffin

Guest
samccov1987 said:
As much as it annoys me to say it after the way sisu have behaved but are we now at the point when the council has to let sisu buy the Higgs share. The charity wants out, sisu want in and won't pay unless they get what they want. The council won't like working with sisu and there will no doubt be arguments over the running of acl in the future but its the only way the ricoh won't turn into a white elephant (there's examples of empty stadiums all over the world - Barcelona, juventus, rushden and diamonds).

Disgraceful how sisu have behaved, but the more that comes out the more last seasons conspiracy theory's stack up. Get relegated, reduce income streams, withhold rent thus forcing the stadium company to the brink. Then give them the ultimatum - let us buy the stadium or we take you down with the football club. Remember the complex ownership structure saddles the debt with the club not sisu. If they pull it off they've played a blinder
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This is the leverage they are working.. FFS.. why can't people see the cynical game SWSIU are playing here!
 
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