And you that how? What more do these bastards have to do to make you minority wake up?
In a way i hope they get it.
Can someone confirm.... (1 Viewer)
- Thread starter RoboCCFC90
- Start date
And you that how? What more do these bastards have to do to make you minority wake up?
In a way i hope they get it.
Cheshire Sky Blue
New Member
I am reasonably certain that no news, is as they say, No News. :jerkit:
torchomatic
Well-Known Member
My favourite response to any rumour is the classic: source? which can be enhanced by an exclamation mark or nine (in the case of SBJ).
M&B Stand
Well-Known Member
Whats to stop them charging more than the council did? Charging the club they own a rent it can't afford, that'd make a cracking business plan.
What's to stop them remortgaging the place to the hilt leaving us in more shit*than ever just so they can get some of their failed investment back? Remortgaging in who's name? CCFC? Otium? How would that work? They'd still be liable for the debt you fool.
What's to stop them selling the club abd keeping the ground for themselves and then charging the new owners extortionate rent? Nobody would take on an club with no Assets, playing at a ground they can't afford. Plus they'd be then stuck with the same white elephant as council/higgs have got now.
Would you be happy for an out of town hedge fund to own the arena even if they sold the club on? Couldn't care who owns it just want the football club to play there, keep the money it generates and be viable.
*you forgot - what's to stop them knocking it down and building houses........thats my favourite conspiricy theory of all!
What's to stop them remortgaging the place to the hilt leaving us in more shit*than ever just so they can get some of their failed investment back? Remortgaging in who's name? CCFC? Otium? How would that work? They'd still be liable for the debt you fool.
What's to stop them selling the club abd keeping the ground for themselves and then charging the new owners extortionate rent? Nobody would take on an club with no Assets, playing at a ground they can't afford. Plus they'd be then stuck with the same white elephant as council/higgs have got now.
Would you be happy for an out of town hedge fund to own the arena even if they sold the club on? Couldn't care who owns it just want the football club to play there, keep the money it generates and be viable.
*you forgot - what's to stop them knocking it down and building houses........thats my favourite conspiricy theory of all!
bigfatronssba
Well-Known Member
Im sure if that did happen some on here would still justify that as the right thing to do.
skybluetony176
Well-Known Member
Whats to stop them charging more than the council did? Charging the club they own a rent it can't afford, that'd make a cracking business plan.
they would know however the maximum rent they can charge and make this up at the end of the season in service charges. only this time no one is going to complain, go on rental strike, ask for help from other clubs in providing examples of rent agreements. the club could possibly have a slow and painful death from the cancer that owns it
What's to stop them remortgaging the place to the hilt leaving us in more shit*than ever just so they can get some of their failed investment back? Remortgaging in who's name? CCFC? Otium? How would that work? They'd still be liable for the debt you fool. i mean whats the chances of sh1tsu putting a company they own into liquidation to avoid paying debt, you know, like the outstanding rent from the afore mentioned rent strike
What's to stop them selling the club abd keeping the ground for themselves and then charging the new owners extortionate rent? Nobody would take on an club with no Assets, playing at a ground they can't afford. Plus they'd be then stuck with the same white elephant as council/higgs have got now.you mean like sh1tsu did? if there is an angle to make money someone would buy it
Would you be happy for an out of town hedge fund to own the arena even if they sold the club on? Couldn't care who owns it just want the football club to play there, keep the money it generates and be viable.on that i think we all agree, as long as any deal doesn't line a hedge funds pockets at the cost of the tax payer. any deal has to be fair to the tax payer as well other wise its open season for hedge funds to take the piss out of the tax payer
*you forgot - what's to stop them knocking it down and building houses........thats my favourite conspiricy theory of all! don't give em idea's
they would know however the maximum rent they can charge and make this up at the end of the season in service charges. only this time no one is going to complain, go on rental strike, ask for help from other clubs in providing examples of rent agreements. the club could possibly have a slow and painful death from the cancer that owns it
What's to stop them remortgaging the place to the hilt leaving us in more shit*than ever just so they can get some of their failed investment back? Remortgaging in who's name? CCFC? Otium? How would that work? They'd still be liable for the debt you fool. i mean whats the chances of sh1tsu putting a company they own into liquidation to avoid paying debt, you know, like the outstanding rent from the afore mentioned rent strike
What's to stop them selling the club abd keeping the ground for themselves and then charging the new owners extortionate rent? Nobody would take on an club with no Assets, playing at a ground they can't afford. Plus they'd be then stuck with the same white elephant as council/higgs have got now.you mean like sh1tsu did? if there is an angle to make money someone would buy it
Would you be happy for an out of town hedge fund to own the arena even if they sold the club on? Couldn't care who owns it just want the football club to play there, keep the money it generates and be viable.on that i think we all agree, as long as any deal doesn't line a hedge funds pockets at the cost of the tax payer. any deal has to be fair to the tax payer as well other wise its open season for hedge funds to take the piss out of the tax payer
*you forgot - what's to stop them knocking it down and building houses........thats my favourite conspiricy theory of all! don't give em idea's
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Sisu took on a club with no assets.
Couldn't they remortgage it to the hilt and then liquidate the club??
J
Jack Griffin
Guest
Surely there is no way a deal can be concluded that leave SISU as ACL's landlords, they've got to buy the freehold & the lease or there isn't a realistic deal.
Having said that, it looks like serious discussion is in progress.. and if a deal can be cut, so be it..
I'd be interested in the reaction of people who said CCC/ACL strangled the club with an unreasonable rent if SISU (etc.) owned the stadium & the ended up charging CCFC a similar rent.. well we'll see, maybe that is not the strategy.. it will take 4-5 years to unfold I guess..
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ohitsaidwalker king power
Well-Known Member
This only exists in your mind G
J
Jack Griffin
Guest
Somewhere I don't want to go.
skybluetony176
Well-Known Member
you know for a fact that it will be scrotium or SBS & L who will own the ground and not one of sh1tsu's other companies that aren't linked to the club in any other way, or even ARVO master fund.
please show us a link to your source on this insider knowledge
D
Deleted member 5849
Guest
Would have thought if a deal for the freehold *was* agreed, then a deal for ACL would be (relatively!) easy. Half owned by those who own the freehold anyway, and reading between the lines it's not unreasonable to think Higgs want out of this mess.
I can't see a deal being agreed though myself, just can't. Mainly because there are so many hoops to jump through in red tape as much as the will of anybody to make it happen!
J
Jack Griffin
Guest
Yeah man, it won't be an easy negotiation, sure as eggs is eggs.
And there is no doubt Higgs want out & should bloody well get out if they can.
Add to the mix that any sale will have to be on the open market & if there is a sustainable business at the stadium without CCFC then what is to prevent a 3rd party (e.g. Compass) coming in with an offer.
And there is no doubt Higgs want out & should bloody well get out if they can.
Add to the mix that any sale will have to be on the open market & if there is a sustainable business at the stadium without CCFC then what is to prevent a 3rd party (e.g. Compass) coming in with an offer.
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shmmeee
Well-Known Member
Would CCC's half of ACL come as part of the deal? Has that been talked about?
I'd agree the Higgs want shot ASAP though.
I think a deal depends on who wins the game of chicken to be honest. When's the next council elections? If one party decides to make political hay with the whole thing then anything could happen.
D
Deleted member 5849
Guest
Hmm, it'd be a brave party that split from the general line though, as if it pays off all well and good, but if not...
In a time when councils are making savage budget cuts all over the place, selling the family silver might be a moderately attractive option also, I suppose? Football ground or school, school or football ground. Nice easy way to sell a deal, isn't it!
shmmeee
Well-Known Member
Depends on which way the winds blowing though, there's been a definite swing to towards blaming the council, if that picks up with more good form...
I also wouldn't put it past either our Joy or our wonderful opposition councillors to arrange a deal on the side. "We can bring City home" is a nice campaign slogan.
And yeah, once the decision's made, there's a million ways to sell it.
Any talk of a deal and how much SISU will charge the club should not forget a few things.
If the council were to give SISU the freehold and the ACL lease, there is still the small matter of the £14m loan and £6m that the Higgs Charity invested. I cannot imagine that anyone on the council, whatever party they represent, will sanction a deal that involves the ratepayer having to repay the loan and the charity having to write off their investment and, I would guess, that the minimum that SISU could expect to pay is £20m.
It is highly unlikely that SISU could finance that £20m at a rate any better than 7.5%, so to repay that loan, over 20 years, would cost them about £2m a year. This is probably £1.5m a year more than ACL pay out at the moment and it doesn't take much guessing where SISU will find the extra income.
If the council were to give SISU the freehold and the ACL lease, there is still the small matter of the £14m loan and £6m that the Higgs Charity invested. I cannot imagine that anyone on the council, whatever party they represent, will sanction a deal that involves the ratepayer having to repay the loan and the charity having to write off their investment and, I would guess, that the minimum that SISU could expect to pay is £20m.
It is highly unlikely that SISU could finance that £20m at a rate any better than 7.5%, so to repay that loan, over 20 years, would cost them about £2m a year. This is probably £1.5m a year more than ACL pay out at the moment and it doesn't take much guessing where SISU will find the extra income.
skybluefred
New Member
Ricoh Arena Brings In American Firm
Feature by Covsupport News Service
Updated Wednesday, 13th November 2013
New Company Brought In
Arena Coventry Limited has appointed Freeman, a major US events company as their exclusive mains provider and preferred supplier for exhibitions and events business for the Ricoh Arena.
The company has signed a six year deal with Arena Coventry Limited to become the nominated supplier for mains electrics to service all exhibitions at the Ricoh Arena.
Justin Phillips, commercial director at Texas based Freeman said in a press statement: “We have been working informally with the Ricoh Arena for the last four years and it made sense to make the arrangement more official and wider.
“The versatility of the space at the Ricoh Arena means organisers can grow their events at the venue and we will provide the services to help them achieve that in a professional manner to attract visitors.
“The Ricoh Arena has an excellent track record in enticing exhibitions back year after year and having the right kind of facilities for exhibitors and organisers is crucial in achieving that and to ensure the venue is used to its full capacity.”
More on this: http://www.ricoharena.com/news/freeman/#.UoNv5T-NWxA.twitter
Feature by Covsupport News Service
Updated Wednesday, 13th November 2013
New Company Brought In
Arena Coventry Limited has appointed Freeman, a major US events company as their exclusive mains provider and preferred supplier for exhibitions and events business for the Ricoh Arena.
The company has signed a six year deal with Arena Coventry Limited to become the nominated supplier for mains electrics to service all exhibitions at the Ricoh Arena.
Justin Phillips, commercial director at Texas based Freeman said in a press statement: “We have been working informally with the Ricoh Arena for the last four years and it made sense to make the arrangement more official and wider.
“The versatility of the space at the Ricoh Arena means organisers can grow their events at the venue and we will provide the services to help them achieve that in a professional manner to attract visitors.
“The Ricoh Arena has an excellent track record in enticing exhibitions back year after year and having the right kind of facilities for exhibitors and organisers is crucial in achieving that and to ensure the venue is used to its full capacity.”
More on this: http://www.ricoharena.com/news/freeman/#.UoNv5T-NWxA.twitter
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D
Deleted member 5849
Guest
So which foods turned out to be unhealthy?
Cheshire Sky Blue
New Member
The ownership of the freehold of the stadium and the shares in ACL are not the same. And as I understand it, Higgs can veto CCC selling their share in ACL and Vice Versa. So SISU agreeing a deal to buy the freehold does not give them access to revenues raised by the Stadium and associated facilities if they are part of the lease agreement.
D
Deleted member 5849
Guest
I never said it did...
sky blue john
Well-Known Member
What do you mean on top of the estimated 20million of added debt in interest and fees already on the books ?
SkyBlue_Bear83
Well-Known Member
It's obvious isn't it, SISU are going to charge the club an extortionate rent which we can not afford. Then our owners SISU will then have to come up with the money to pay to the stadium owners who are also SISU.
A cunning plan
It's like charging myself rent to live in my own house
So you think sisu/otium are prepared to buy the freehold and gift it to ccfc for nothing?
Your ignorance staggers me.
win9nut
Well-Known Member
After the alleged level of losses that SISU have sustained, if you were an investor would you buy CCFC without ownership of the Ricoh thrown in the mix?
I sure as hell wouldn't, unless I felt certain I could acquire ownership at a later date without any issues at all (unlikely no matter who the owners are)
I sure as hell wouldn't, unless I felt certain I could acquire ownership at a later date without any issues at all (unlikely no matter who the owners are)
lewys33
Well-Known Member
I think we have all got a bit too caught up in all of this now. Remember when we used to just go and watch football, and maybe complain about the price of the pies and Kevin Kyle? If this gets us back to Coventry then im not gonna sit and moan about who owns what or any of the past, because simply I have better things to do and it isn't going to change much! It is all beyond us minions.
I mentioned this before. Quite an interesting point. Im sure new freehold owners would rather "get rid" than "buy out"
I mentioned this before. Quite an interesting point. Im sure new freehold owners would rather "get rid" than "buy out"
fernandopartridge
Well-Known Member
No. ACL has paid up front for its leasehold. Not sure if SISU can ask for a ground rent but even if they did it would be a peppercorn one.
fernandopartridge
Well-Known Member
That's the question. Who knows.
bezzer
Well-Known Member
Please explain to me how this will work?
Who/what is the club? The owners? The players? The fans? The Trust? The Council tax payers? Fred the gateman?
Ahhhhh you're going to say the fans aren't you. Ok, just round up the 12k Ricoh regulars, pass the hat around and go and buy the ground.
Or maybe The Trust? I'm sure they've got a few million hidden away in an offshore account.
SISU/PH4, Fat Gary and Mr Coventry/Byng/Dhinsa? - What is to stop any owner charging rent for a team who plays in their stadium?
The Prefect
Active Member
There's no deal for the freehold without there being a deal for ACL first. Much of what is said and printed via the media is Seppala's 'code-speak' for owning ACL and the freehold of the Ricoh.
I don't see the council being stupid enough to do a deal for either without conditions. I'd suggest SISU can have ACL for £Xm (whatever 'X' is) with the council holding swamping rights on the shares if for example there is no promotion within 3 years.
I'd sell them 49% of the freehold on promotion to the Championship and the rest when they have been in the championship for at least 3 years - or on promotion to the Premier League.
This way the club gains the revenue benefits of ACL and other benefits by moving forward. Likewise if SISU take the club backwards (which is what they have done up until now) then it backfires. A simple 'sale of' won't be on the agenda.
I don't see the council being stupid enough to do a deal for either without conditions. I'd suggest SISU can have ACL for £Xm (whatever 'X' is) with the council holding swamping rights on the shares if for example there is no promotion within 3 years.
I'd sell them 49% of the freehold on promotion to the Championship and the rest when they have been in the championship for at least 3 years - or on promotion to the Premier League.
This way the club gains the revenue benefits of ACL and other benefits by moving forward. Likewise if SISU take the club backwards (which is what they have done up until now) then it backfires. A simple 'sale of' won't be on the agenda.
Manchester_sky_blue
Well-Known Member
Unlikely to be signed until after April 2014 to be honest, in to the new financial year.