CCFC Appoint Restructing Experts (1 Viewer)

[elephanttears]

I dont think its right that CCFC should own the Ricoh. After all they didnt pay for the construction which in total was quoted at £113 Million. The council and Higgs went 50/50.

We had our own ground and for some reason only known to the chairman and the whole board at the time all agreed to sell the ground.

What kind of arseholes were running CCFC? Different owners, different board at the time i get that, BUT you do not sell your own ground EVER!

As much as i love CCFC, they are a disaster when it comes to money and managing it, FACT!

Ok, if you dont think we should own it why should we want to stay in it?

 

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[exiled_to_Leeds]

SISU have no interest in CCFC owning the Ricoh. SISU have a lot of interest in SISU owning the Ricoh. Do you think that once they get their hands on it they will somehow just gift it to the club and set sail into the distance with a warm glow in their hearts that they have saved the mighty Coventry City?

 

[Brighton Sky Blue]

It shows they're trying to get an even better deal, looking after CCFC, 400k is still too much. You're wrong.

ACL have offered £800k off the original rent figure plus access to revenues which previously weren't available. So we end up about £100k net over TF's golden figure for an 'average League 1 stadium'-are we playing in an average League 1 stadium? More to the point, if the club ever made it into the PL, would the club be up in arms about paying below the average figure? Didn't think so.

 

[Mucca Mad Boys]

Utter bollox, they don't give a shiny shite about CCFC, don't kid yourself.

I never said they cared about SISU, I said they were looking after CCFC [in this respect because it looks after their own interests]

Anyone, bar a rich fan, or fans' trust, really care about the club, all these corporates care about £€$¥

No to MOD£RN Football.

 

[skybluesam66]

we certainly didnt pay nothing for it . we paid £20m decontamination costs, and we also attracted tesco to the site who invested 60m into the arena site

 

[Brighton Sky Blue]

I never said they cared about SISU, I said they were looking after CCFC [in this respect because it looks after their own interests]

Anyone, bar a rich fan, or fans' trust, really care about the club, all these corporates care about £€$¥

No to MOD£RN Football.

Funny then that you criticise an organisation which represents the taxpayers of Coventry and a charity which looks after less fortunate people in the city.

 

[SkyblueBazza]

I could advise them for nothing. Use the dosh they were told by the court to pay into a seperate account as a measure of goodwill, & then include a rebate as part of the negotiation.
It seems to me that CCFC/SISU will pay dearly whatever the outcome. I cannot see how they have much of a leg to stand on whichever way they go.

 

[Mucca Mad Boys]

Funny then that you criticise an organisation which represents the taxpayers of Coventry and a charity which looks after less fortunate people in the city.

But neither which represent the taxpayers or the undortunate as ACL. What they have done as ACL is rip off CCFC.

What good has ACL done for the taxpayers of Coventry? The schools that were supposed to be built/renovated weren't, nothing has been done for us ordinary folk.

 

[dongonzalos]

But neither which represent the taxpayers or the undortunate as ACL. What they have done as ACL is rip off CCFC.

What good has ACL done for the taxpayers of Coventry? The schools that were supposed to be built/renovated weren't, nothing has been done for us ordinary folk.

You are never going to pass your exams, you are on here more than me

 

[Brighton Sky Blue]

But neither which represent the taxpayers or the undortunate as ACL. What they have done as ACL is rip off CCFC.

What good has ACL done for the taxpayers of Coventry? The schools that were supposed to be built/renovated weren't, nothing has been done for us ordinary folk.

ACL was set up because CCFC was too skint in the first place. It is Bryan Richardson's legacy to us all.

 

[Sky Blues]

But neither which represent the taxpayers or the undortunate as ACL. What they have done as ACL is rip off CCFC.

What good has ACL done for the taxpayers of Coventry? The schools that were supposed to be built/renovated weren't, nothing has been done for us ordinary folk.

Again, is ACL ripping off Sisu/CCFC?

Italiahorse said:

1.2M x 25 years = 37.5M
We could almost buy the stadium twice over without even taking food, drink and parking into consideration.
ACL are robbing us blind.

I said:

You're forgetting interest. A £21million loan for 25 years at, let's say, 2% interest = £31.5million according to the calculator I used. Add in a sinking fund for repairs (I don't know ours but Swansea's was £200,000 a year I think, so I'll use that) of £5,000,000. You are at £36.5million before you even come to other expenses... If the loan was for 30 years (I don't know the terms) you can add another £2million in interest repayments... Are they really robbing us?

I'm happy for someone to pull my calculations apart, but so far all I hear is "ACL are ripping us off". Are they ripping us off?

 

[Grendel]

You seem to be assuming the club should pay back the loan but we are not their main income source and also are not able to profit from the project.

 

[Sky Blues]

You seem to be assuming the club should pay back the loan but we are not their main income source and also are not able to profit from the project.

I am assuming the club, as anchor tenant, were originally expected to make a major contribution towards paying off the loan. The point is ACL are not just getting £1.2million with no expenses to pay off and those expenses are not inconsiderable. I'm guessing ACL's subsequent success at developing other income streams, combined with a restructuring of the loan, has enabled them to make the last rent reduction offer.

 

[Mucca Mad Boys]

Again, is ACL ripping off Sisu/CCFC?

Italiahorse said:


I said:


I'm happy for someone to pull my calculations apart, but so far all I hear is "ACL are ripping us off". Are they ripping us off?

We're paying above market value and teams above pay considerably less for just as good facilities.

 

[Sky Blues]

We're paying above market value and teams above pay considerably less for just as good facilities.

But why are we paying above what Fisher claims is the market rate? Is it because ACL are "ripping off CCFC" or is it because they need to pay back a £21million loan, plus interest, and maintain a 32,000 seater stadium?

 

[Mucca Mad Boys]

But why are we paying above what Fisher claims is the market rate? Is it because ACL are "ripping off CCFC" or is it because they need to pay back a £21million loan, plus interest, and maintain a 32,000 seater stadium?

Either way, the loan will get paid off, even if we paid a penny a year! 1.28m a year is a sick joke.

 

[Sky Blues]

Either way, the loan will get paid off, even if we paid a penny a year!

Have you got a link to ACL's finances? I couldn't find one on the Ricoh Arena website.

 

[coundonskyblue]

This idea that acl are 'ripping us off', did Sunderland not rip us of when they sold us Kyle? Or Wolves when they sold us Eastwood?

Does that mean would should go back to them asking for a refund?

 

[Sub]

the kyle comment made me laugh :claping hands::claping hands::claping hands::claping hands:

 

[Grendel]

This idea that acl are 'ripping us off', did Sunderland not rip us of when they sold us Kyle? Or Wolves when they sold us Eastwood?

Does that mean would should go back to them asking for a refund?

Are you an ACL employee? You seem almost desperate for them to bring the club down. Surely if the club ultimately win the battle to drive the rent down the lowest possible level that to supporters is all that matters isn't it?

 

[coundonskyblue]

<p>

Are you an ACL employee? You seem almost desperate for them to bring the club down. Surely if the club ultimately win the battle to drive the rent down the lowest possible level that to supporters is all that matters isn't it?

So would you be happy to push acl into a loss making position?

 

[Sky Blue Pete]

<p>

So would you be happy to push acl into a loss making position?

That's the win win situation isn't it? Acl profitable company and sisu able to continue to fund a competitive football club!! Unfortunately as many people have said sisu are not interested on either. They appear to be interested in the land around but who knows and will we ever know?

 

[Grendel]

<p>

So would you be happy to push acl into a loss making position?

Why would that bother me in the slightest. If they are incapable of making a profit from the project without having to charge its main tenant a ridiculously distorted figure they are not fit for pupose anyway.

 

[Sky Blue Pete]

Why would that bother me in the slightest. If they are incapable of making a profit from the project without having to charge its main tenant a ridiculously distorted figure they are not fit for pupose anyway.

that has to be right. They can only charge what someone can afford to pay!

 

[CJparker]

I hope ACL enforce their original contract and make CCFC pay every single penny - as a taxpayer I am outraged that ACL (part owned by the council) compromised when there was no reason to do so.

For a stadium like the Ricoh, the current rent is perfectly reasonable - it's not ACL's fault that we are in League One instead of the Premier, so why should they take the hit for the incompetence of CCFC's owners? When SISU came in, they agreed to the current rent as it wasn't unaffordable given their plans - they just didn't bank on failure. Now they want to be baled out by others.


What really annoys me is how some people like Grendel and Sky Blue Taylor are so hard-headed that they can't see past the CCFC perspective. Yes, of course a rent reduction would be good for CCFC given our lowly status, but variable rent (based on league position) wasn't part of the deal when SISU signed up to it - precisely because they knew that in the Premier League, their ultimate goal within the business plan, £1.2m p/a is chicken feed. Would SISU be happy to pay, say, £5m per year in rent if we get to the Premier? Don't make me laugh.

As a taxpayer and someone who just hates bullies generally, I want to see ACL enforce the terms of its contract against CCFC.

 

[CJparker]

I hope ACL enforce their original contract and make CCFC pay every single penny - as a taxpayer I am outraged that ACL (part owned by the council) compromised when there was no reason to do so.

For a stadium like the Ricoh, the current rent is perfectly reasonable - it's not ACL's fault that we are in League One instead of the Premier, so why should they take the hit for the incompetence of CCFC's owners? When SISU came in, they agreed to the current rent as it wasn't unaffordable given their plans - they just didn't bank on failure. Now they want to be baled out by others.


What really annoys me is how some people like Grendel and Sky Blue Taylor are so hard-headed that they can't see past the CCFC perspective. Yes, of course a rent reduction would be good for CCFC given our lowly status, but variable rent (based on league position) wasn't part of the deal when SISU signed up to it - precisely because they knew that in the Premier League, their ultimate goal within the business plan, £1.2m p/a is chicken feed. Would SISU be happy to pay, say, £5m per year in rent if we get to the Premier? Don't make me laugh.

As a taxpayer and someone who just hates bullies generally, I want to see ACL enforce the terms of its contract against CCFC.

 

[coundonskyblue]

<p>

Why would that bother me in the slightest. If they are incapable of making a profit from the project without having to charge its main tenant a ridiculously distorted figure they are not fit for pupose anyway.

Ok, well when acl go bust & Yorkshire bank takeover dont complain when back rent is demanded immediately & all negotiations end.

 

[Grendel]

I hope ACL enforce their original contract and make CCFC pay every single penny - as a taxpayer I am outraged that ACL (part owned by the council) compromised when there was no reason to do so.

For a stadium like the Ricoh, the current rent is perfectly reasonable - it's not ACL's fault that we are in League One instead of the Premier, so why should they take the hit for the incompetence of CCFC's owners? When SISU came in, they agreed to the current rent as it wasn't unaffordable given their plans - they just didn't bank on failure. Now they want to be baled out by others.


What really annoys me is how some people like Grendel and Sky Blue Taylor are so hard-headed that they can't see past the CCFC perspective. Yes, of course a rent reduction would be good for CCFC given our lowly status, but variable rent (based on league position) wasn't part of the deal when SISU signed up to it - precisely because they knew that in the Premier League, their ultimate goal within the business plan, £1.2m p/a is chicken feed. Would SISU be happy to pay, say, £5m per year in rent if we get to the Premier? Don't make me laugh.

As a taxpayer and someone who just hates bullies generally, I want to see ACL enforce the terms of its contract against CCFC.

The taxpayer isn't affected by the arrangement. It's an irrelevant red herring.

Many council funded stadium allow football clubs to reside in them for much lower rents. The argument they have signed so cough up also does not hold up to scrutiny. Commercial contracts are ripped up and resigned all the time.

What really annoys me is people like you call yourself a supporter but are quite happy for the club to start with a huge handicap compared to their opponents -- namely a rent which equates to over 20% of its turnover. When the club started playing there they had to have 22,000 paying adults to break even. It is ridiculous and your stance reveals you as not a supporter at all. You must be an ACL plant -- it is the only logical explanation for writing such nonsense.

 

[valiant15]

Why haven't all the people been complaining about the rent for the last 7 years? Why now? Your like fishers sheep,havent you got your own minds?

 

[Bennets Afro]

If city cease to exist tomorrow. It would all be down to sisu not acl

 

[We'll_live_and_die]

Why haven't all the people been complaining about the rent for the last 7 years? Why now? Your like fishers sheep,havent you got your own minds?

I'm not complaining, but personally I didn't know we were paying so much and that it was so much higher than our competitors.

 

[Brighton Sky Blue]

I'm not complaining, but personally I didn't know we were paying so much and that it was so much higher than our competitors.

Maybe, but the club sure did.

 

[Brighton Sky Blue]

that has to be right. They can only charge what someone can afford to pay!

Haha, well then let me move in and bring the rent down to a fiver a year.

 

[Gaz]

I just don't understand why some city fans wouldn't want us to get a better rent price for the Ricoh.
The amount that we had been paying was far to much for us to cope with.

 

[We'll_live_and_die]

Maybe, but the club sure did.

What has that got to do with someone calling people sheep because they are only complaining now TF has mentioned it?