Paxman II
Well-Known Member
I warned some weeks ago that there was an underbelly to all this that we had not yet seen.
Well now you see it.
SISU have big balls I give them that. But lets for a moment look at this objectively...
They have agreed with the FL who have accepted the company ACL are after in court in the morning have been put into admin and that is the entity that owns the lease arrangement with ACL to use the stadium.
It's this company that owes the much vaunted £1.3m (not factually correct but not important here)
So they have pulled off a masterful legal stroke that is in fact approved by the FL (as we understand it) and the FL have agreed that the football club (a separate company not in debt and operating) would therefore need a new ground and the FL therefore have little option other than to agree the football club can play out their fixtures at any suitable ground (approved by them) and complete their fixtures.
This suggest NO points deduction. The football club have done nothing to break the FL rules. Indeed the football club owners have apparently had this assurance before taking the action with the entity they have effectively put into admin via a hearing on Thursday with the full knowledge of the FL that the entity that is the football club is completely separate.
The likely outcome of Fridays case is dismissal with no case to answer.
Oh dear ACL. You play your hand and looks like you lose (for the moment at least)
ACL are now left with no tenant. They have lost any avenue of getting paid the lost rent of £1.3m to boot.
Now extraordinarily they also must contend with immediate loss of income streams, the very things SISU have been rattling on about, that are normally generated by the football club supporters on match days. A significant amount and one which Compass are not going to be happy about for one. Compass will want immediate assurances from ACL or have that contract revoked (and a good case they would have) with compensation coming back too most likely. Jobs are threatened all over the place. There's the casino, bars, hotel all affected with loss of such strong foot traffic. I'm sure this was a consideration for all of them when they signed into their leases.
Because of this I suspect that eventually an arrangement will be put in place to allow the football club (no debt to ACL remember) to be free to negotiate some terms on playing at the Ricoh. ACL though battered and bruised would be wise to do so. The terms may be a lot different, even a short term let for now. They must do this before the next due fixture.
Meanwhile the football club have obviously got a very meaningful plan to play elsewhere with immediate effect. Not a threat but a fact supported by the FL.
ACL could lock the football club out. But who are they locking out? The Football Club do not have any arrangement with ACL so they are at present not even a tenant? Obviously the Sky Blues have been playing there as we all know. To stop them doing so would not need any court order, they simply don't have a contract to be there in the first place, hence the new ground arrangement the football club have organised and had approved by the FL. (so that was not a threat)
ACL in effect will have to quickly come cap in hand to the football club prepared to allow them to play at the Ricoh (no doubt for match day cost already known) and a negotiated rent and quite possibly willing to open up avenues on revenue streams for renting the Arena.
That or just face Compass and everyone else and be bloody minded and refuse to let the football club (our Sky Blues) play there? I wouldn't blame them tbh but when thought about calmly they have little choice.
SISU will have played their hand better and ACL will have to dust themselves down and seek a deal to secure a football club there. The wrath towards the council, never mind ACL and a charity will be damming if they don't.
SISU have been bloody minded and I'm reminded of the phrase "nothing personal, it's just business". Like the wrath of a woman scorned. ACL too have been equally destructive for me. The legal system is fraught with complexities and SISU it would appear were backed into a corner by ACL and came out fighting. They have made a statement that they will run this football club until they get a chunk of their investment back and that seems fair enough, regardless of how well we think they have done or will do.
I always thought ACL was formed to operate the arena the best ways possible and that would surely be finding the right compromise to the tenants needs who after all, were the main reason the council picked up the failed original project and completed the build out?
Yes SISU have done it all wrong and made a hash of stuff but had made good significant inroads to getting the books in order having taken the hit of relegation and the 2008 crash. Whoever owned us the same conditions would apply.
ACL will need to deal with the football club for the sake of the City of Coventry, it's people, it's precious football club and history and put some sentiment to one side.
Distrust will continue but deals can be done, their not all babies here. Act like men and move it into a position as I said before and get SISU to a point where they will passover to new ownership or at least a position to sell it on. Hell an new owner could be waiting in the wings now? If I was SISU and saw my £40m threatened I would have taken the same route.
Neither side have done anything illegal but they have been fighting instead of negotiating.
It's just my take, I may be proven wrong. Rant over.
Well now you see it.
SISU have big balls I give them that. But lets for a moment look at this objectively...
They have agreed with the FL who have accepted the company ACL are after in court in the morning have been put into admin and that is the entity that owns the lease arrangement with ACL to use the stadium.
It's this company that owes the much vaunted £1.3m (not factually correct but not important here)
So they have pulled off a masterful legal stroke that is in fact approved by the FL (as we understand it) and the FL have agreed that the football club (a separate company not in debt and operating) would therefore need a new ground and the FL therefore have little option other than to agree the football club can play out their fixtures at any suitable ground (approved by them) and complete their fixtures.
This suggest NO points deduction. The football club have done nothing to break the FL rules. Indeed the football club owners have apparently had this assurance before taking the action with the entity they have effectively put into admin via a hearing on Thursday with the full knowledge of the FL that the entity that is the football club is completely separate.
The likely outcome of Fridays case is dismissal with no case to answer.
Oh dear ACL. You play your hand and looks like you lose (for the moment at least)
ACL are now left with no tenant. They have lost any avenue of getting paid the lost rent of £1.3m to boot.
Now extraordinarily they also must contend with immediate loss of income streams, the very things SISU have been rattling on about, that are normally generated by the football club supporters on match days. A significant amount and one which Compass are not going to be happy about for one. Compass will want immediate assurances from ACL or have that contract revoked (and a good case they would have) with compensation coming back too most likely. Jobs are threatened all over the place. There's the casino, bars, hotel all affected with loss of such strong foot traffic. I'm sure this was a consideration for all of them when they signed into their leases.
Because of this I suspect that eventually an arrangement will be put in place to allow the football club (no debt to ACL remember) to be free to negotiate some terms on playing at the Ricoh. ACL though battered and bruised would be wise to do so. The terms may be a lot different, even a short term let for now. They must do this before the next due fixture.
Meanwhile the football club have obviously got a very meaningful plan to play elsewhere with immediate effect. Not a threat but a fact supported by the FL.
ACL could lock the football club out. But who are they locking out? The Football Club do not have any arrangement with ACL so they are at present not even a tenant? Obviously the Sky Blues have been playing there as we all know. To stop them doing so would not need any court order, they simply don't have a contract to be there in the first place, hence the new ground arrangement the football club have organised and had approved by the FL. (so that was not a threat)
ACL in effect will have to quickly come cap in hand to the football club prepared to allow them to play at the Ricoh (no doubt for match day cost already known) and a negotiated rent and quite possibly willing to open up avenues on revenue streams for renting the Arena.
That or just face Compass and everyone else and be bloody minded and refuse to let the football club (our Sky Blues) play there? I wouldn't blame them tbh but when thought about calmly they have little choice.
SISU will have played their hand better and ACL will have to dust themselves down and seek a deal to secure a football club there. The wrath towards the council, never mind ACL and a charity will be damming if they don't.
SISU have been bloody minded and I'm reminded of the phrase "nothing personal, it's just business". Like the wrath of a woman scorned. ACL too have been equally destructive for me. The legal system is fraught with complexities and SISU it would appear were backed into a corner by ACL and came out fighting. They have made a statement that they will run this football club until they get a chunk of their investment back and that seems fair enough, regardless of how well we think they have done or will do.
I always thought ACL was formed to operate the arena the best ways possible and that would surely be finding the right compromise to the tenants needs who after all, were the main reason the council picked up the failed original project and completed the build out?
Yes SISU have done it all wrong and made a hash of stuff but had made good significant inroads to getting the books in order having taken the hit of relegation and the 2008 crash. Whoever owned us the same conditions would apply.
ACL will need to deal with the football club for the sake of the City of Coventry, it's people, it's precious football club and history and put some sentiment to one side.
Distrust will continue but deals can be done, their not all babies here. Act like men and move it into a position as I said before and get SISU to a point where they will passover to new ownership or at least a position to sell it on. Hell an new owner could be waiting in the wings now? If I was SISU and saw my £40m threatened I would have taken the same route.
Neither side have done anything illegal but they have been fighting instead of negotiating.
It's just my take, I may be proven wrong. Rant over.
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