Astute
Well-Known Member
So where should the money to be able to complete the build have come from?
So where should the money to be able to complete the build have come from?This is what you're up against. The same clowns posting the same nonsense as fact despite the fact the evidence is publicly available. The unnecessary £21m lease premium is the main reason why the Arena failed.
If it was £21m for 50 years, how much for 250?
Would you like to explain?The loan you are referring to there is the loan from the Prudential not the loan ACL took out from Yorkshire Bank.
Yes but making out poor kids are going to starve to death sounds better.
Quite an Ironic post, considering you are making out anyone has said the words kids starving to death' in order to make your post sound better
That is what they did when they originally set up, not what they do now.
This is taken, from their current and up to date website of what they do, cant see anything specific to kids, or do they invest in pubs for the deprived children?
What the charity does
The Trustees have a clear policy in making grants. They support:
• Strategic initiatives that have an effect on large numbers of people over time. These create step change in areas of deprivation.
• Projects or activities in particular geographical or thematic areas, sometimes over time, in order to concentrate the effect of grants and target particular need
• The ad hoc needs of groups or organisations supported through one-off grants.
Charitable giving ranges from very large strategic projects to small local donations. All grants are made within the beneficial area. Applications from individuals are not accepted
Hence I said "making out". Let's not pretend people don't pile on the "poor children" act
Same as when people mention tax payers money and it was said about "every man woman and child would be losing £x".
Nobody had made out children will starve to death. Only you have suggested they have.
People have correctly pointed out as confirmed by a high court Judge that SISU's actions were distressing ACL for SISU's benefit.
ACL is half owned by a charity which supports disadvantaged children.
SISU's actions were of course affecting that charity in negative way.
You can paint it up whatever way you like. That's the facts of the matter.
SISU offered the charity 2 million for something that SISU felt wasn't worth anything.
They ended up getting 2.77 million, a stand named after them and ongoing percentage of ticket sales from that stand.
I am personally glad a stand was made and the distressing of ACL brought to a halt.
Some things in life are more important than football, including screwing over charities whatever their cause but in particular if they help disadvantaged children
What about the offer to Higgs that would benefit the community? You have missed that bit out.
Maybe you should sign up to the Higgs fans forum, PWKH can take his accounts over there and the fellow ACL directors can have theirs. I'll even export their posts for them.
How much distressing of the "children's charity" did the Council do? Imagine how well off it would have been if they had extended the lease and took all of the strain away
So where should the money to be able to complete the build have come from?
When will you learn that one employee doesn't make a charity.
I am gobsmacked you still support CCFC after we had Ken Deliu as a Chairman. Surely you must hate them on your warped logic.
READ THE REPORT YOU POSTED UP.
The council borrowed £21m through the prudential borrowing scheme. It doesn't state anywhere in the report that the lease premium income was to cover the council's prudential borrowing / towards the build cost. To do so would surely value the lease on a false premise.
So they didn't borrow 21m off the Prudential then :smuggrin:READ THE REPORT YOU POSTED UP.
The council borrowed £21m through the prudential borrowing scheme. It doesn't state anywhere in the report that the lease premium income was to cover the council's prudential borrowing / towards the build cost. To do so would surely value the lease on a false premise.
Never said anything about 1 employee did I?
Again, why didn't the council do too much to help Higgs and their investment?
I am gobsmacked you actually mentioned CCFC in one of your posts.
Bingo. Always know when you are losing a debate you always try and suggest the other person either isn't a Cov fan or not a very good one. Grendel does the same. That's good enough for me.
The one employee line is in relation your odd obsession with PWKH. Your personal issues with him fuels your detest for the Higgs Charity. It seems to give you a strange justification for diminishing the importance of all the good work they do and the fact they were getting screwed over because you hate one bloke who works for them.
How exactly would extending the lease have helped ACL. Whilst the anchor tenant is withholding their rent. Then moves out?
Maybe it's because people like you and Captain Dart don't really mention CCFC. I mentioned multiple people didn't I as well as PWKH? I've never mentioned the actual work they do have I? Who has said my dislike for them is based just on PWKH either, or are you just assuming?
I also carried on the debate in the comment above about the council. Surely if they extended the lease it would have eased the pressure and the reliance on CCFC? If any business relies so much on an anchor customer in the first place it is flawed.
No assumption, based on your comments about PWKH.
CCFC
CCFC
CCFC
CCFC
CCFC
CCFC
CCFC
Can I have my gold star now?
Just how many times have I talked about CCFC out of interest?
So where should the money to be able to complete the build have come from?
There wasn't a £21m overspend, fit out or anything like that. Part of the finance for the build was a loan of £21m to the council from the Prudential. The overspend was £2.9m which was paid from council reserves.Would you like to explain?
Sharpiro bid was £26m wasn't it, from memory. Seem to recall Taylor calling it derisory and having a go at the them as they also wanted to develop more land around the Ricoh.Bigger offers before SISU for ACL?
Who, when and how much did they want buy ACL for?
Sharpiro bid was £26m wasn't it, from memory. Seem to recall Taylor calling it derisory and having a go at the them as they also wanted to develop more land around the Ricoh.
This is also on their current website and does mention disadvantaged children. As I said they are involved in a range of projects that are good for the local area including the prime reasonit was set up to support disadvantaged children.....
He also called the SISU bid the same...Sharpiro bid was £26m wasn't it, from memory. Seem to recall Taylor calling it derisory and having a go at the them as they also wanted to develop more land around the Ricoh.
Cant honestly say I have seen all those disadvantaged kids in Browns, I mean why else would they buy a pub
Perhaps the prime reason they were set up isn't the true direction they now travel in.
Higgs Charity said:The Trustees have a clear policy in making grants. They support:
• Strategic initiatives that have an effect on large numbers of people over time. These create step change in areas of deprivation.
• Projects or activities in particular geographical or thematic areas, sometimes over time, in order to concentrate the effect of grants and target particular need
• The ad hoc needs of groups or organisations supported through one-off grants.
Charitable giving ranges from very large strategic projects to small local donations. All grants are made within the beneficial area. Applications from individuals are not accepted.
Higgs Charity said:The Charity is a registered grant-making Charity established in 1979 on the death of Alan Higgs to benefit the inhabitants within a 25 mile radius of Coventry
The Charity is involved in various charitable activities as well as making grants. This website should help you to make an application to the Trustees for a grant and to see how the Charity is engaged on both a strategic and tactical level in Coventry and the area within 25 miles of the City centre which is the Trustees’ beneficial area.
So they didn't borrow 21m off the Prudential then :smuggrin:
And what about the link I put up yet again? It shows that what was the mortgage...21m...was used towards the build costs. This included 7m to fit out the stadium. It shows where the money came from and what it was spent on. Here you are again. It is an official document and not just hearsay.
They would have been lucky to have got the loan at 5%. There was also over 1m more needed. 22m at 5% is 1.1m
https://www.google.co.uk/url?sa=t&source=web&rct=j&url=http://democraticservices.coventry.gov.uk/Data/Cabinet/200606271500/Agenda/08%20-%20Arena%20Construction%20Completion%20Report.pdf&ved=0ahUKEwiymculkPvSAhXoC8AKHdZLAv8QFggoMAQ&usg=AFQjCNEBQOj5oVX3oSmfqzeOuBhdrB3tZg
I don't mind you quoting me at all. But as usual I don't get quoted correctly on this matter.There wasn't a £21m overspend, fit out or anything like that. Part of the finance for the build was a loan of £21m to the council from the Prudential. The overspend was £2.9m which was paid from council reserves.
Separate to that is the matter of the lease from the council to ACL. They were given the option to pay £1.9m annually or a £21m premium. They chose the later and funded that via a loan from Yorkshire Bank.
Can we put to bed the kids bit? Not that it should make any difference what good causes they put their money towards anyway, it's all worthy, surely? Just playing on the heart strings to big up the poor disadvantaged children.
Diversity, revenue, profit....if it contributes to their aims....perhaps it is?I wouldn't call owning a pub especially worthy.
I wouldn't call owning a pub especially worthy.
Can we put to bed the kids bit? Not that it should make any difference what good causes they put their money towards anyway, it's all worthy, surely? Just playing on the heart strings to big up the poor disadvantaged children.
Please tell me you don't really think it's acceptable to put the kids to bed around 5pm. Even infants are surely allowed 8pm? Try putting 14yr old in bed before 10pm these days & you'll probably have the child protection lot after youCan we put to bed the kids bit? Not that it should make any difference what good causes they put their money towards anyway, it's all worthy, surely? Just playing on the heart strings to big up the poor disadvantaged children.
Not as much as you do about Higgs and the Council, obviously.
Sharpiro bid was £26m wasn't it, from memory. Seem to recall Taylor calling it derisory and having a go at the them as they also wanted to develop more land around the Ricoh.
It wasn't me it was Dongo! I was trying to point out the same, they support many deserving causes!
I wouldn't call owning a pub especially worthy.
Cant honestly say I have seen all those disadvantaged kids in Browns, I mean why else would they buy a pub
Perhaps the prime reason they were set up isn't the true direction they now travel in.
Sharipo bid £26 million for ACL?
Are you sure?
Or were they trying to buy the football club not ACL?
The football club were not owned by the Higgs Charity
I don't remember that happening. But even if it did the answer should have been a no. The only ones that should have ended up owning the Ricoh is CCFC. No hedge fund. No rugger club from London. Nobody expecting to make a profit out of CCFC. The whole thing has been a fuckup since Richardson sold HR. HR wasn't a great ground. But it was ours and in a good location. Before Richardson took over we were perennial relegation battlers. But at least we knew what to expect. His dreams and plans are what started it all off.The offer was for acl yes. The council refused as they had the audacity to ask for a long lease and some land (car park c I assume) to be included in the deal.
Still proud?
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?