CCFC are being discussed at Westminster today (1 Viewer)

Sky_Blue_Dreamer · Jan 16, 2019

CJ_covblaze said:
The issue with her having to answer her investors is what if they've already been repaid? Lets say Mr Jones invested £5m into the investment fund and would like a return of 20% and his money was used to acquire or grow 5 different entities. After 5 years he wants out and 2 of those organisations have done very well, 1 has done ok, 1 is at the same value and the other one has lost money. If that portfolio is now worth over £6m Mr Jones is happy and isn't really going to care where that 20%+ yield has come from as long as everything's above board.

I doubt there are many people who have invested into hedge funds and their capital has only gone into one place. In fact I'd bet some investors may not even know where their money has gone and won't ask unless it's failed. With regards to overall failure I'm guessing if that was the case we'd know about by now as 11 years is a very long time.

Yep. Very rare the average Joe has the faintest idea have invested money with, certainly via their pension pot and even with a financial advisor. At most they'll have a vague idea of what percentage of their money is in bonds, property, stocks and shares, interest etc. as part of some incredibly long and complex sounding investment portfolio with x units at £y Even the most clued up will only at most have some idea of who managed each part of their investment, but no idea what investments were added in or taken out during any time period.

One thing that can be pretty much guaranteed is that it'll be split up into numerous areas depending on the part of the risk scale you agreed to and whether you were looking for income, growth or a mix.

Sky_Blue_Dreamer · Jan 16, 2019

covcity4life said:
It should be like NFL where you buy the club name badge etc from the league. But you can't move the club etc without league permission

At least that way EFL always in control

Difference is in America it's almost all about $$$$. If a franchise will likely make more somewhere else the league will move it quite happily - couldn't give a fuck about links to community. One possible exception is Green Bay, where the town would probably disappear if the Packers left.

Also have to take into account with franchises no relegation/promotion, so any non-league club has nothing to aspire to.

Also can end up costing local council/government huge amounts because billionnaire owners demand public funds be used to build swanky new state of the art stadiums or they'll just move the franchise somewhere else.

shmmeee · Jan 16, 2019

SkyBlueZack said:
Is it not ironic Coventry MP’s calling for our club to have a permanent home when they sold our permanent home?

Eh?

CJ_covblaze · Jan 16, 2019

SkyBlueZack said:
Is it not ironic Coventry MP’s calling for our club to have a permanent home when they sold our permanent home?

No they didn't. Stop making things up.

fernandopartridge · Jan 16, 2019

CJ_covblaze said:
No they didn't. Stop making things up.

Foster and Fletcher voted for the restructure of ACL which paved the way for Wasps, Foster even says so

fernandopartridge · Jan 16, 2019

shmmeee said:
Eh?

Fletcher was a councillor when the stadium was sold to Wasps

Nick · Jan 16, 2019

fernandopartridge said:
Fletcher was a councillor when the stadium was sold to Wasps

Didn't she vote for it to be sold to them?

chiefdave · Jan 16, 2019

Any publicity welcome but nothing we didn't already know. Think I would sum it up as actions speak louder than words.

There was nothing suggested in this meeting that couldn't have already been put in motion so lets see them now move forward with some urgency and get Wasps back to the table. Ultimately that is the only thing that will result in us staying at the Ricoh.

Suggestions that SISU suddenly drop legal action are pissing in the wind unless someone has a way of bringing that about.

Jim Cunningham said:
Wasps’ decision to buy the Ricoh arena from Coventry City Council was a success for it, and it has become a welcome and growing part of sporting life in the city.

Mark Western said:
Although I agree with him and welcome the work of Wasps in the city

Kevin Foster said:
The hon. Member for Coventry North East (Colleen Fletcher) and I actually voted for the financial restructuring that stopped it bankrupting the company that then operated the stadium.

Jim Cunningham said:
Coventry City must stay at the Ricoh arena next season. No other option is acceptable. To achieve that, all parties need to get back around the negotiating table.

Colleen Fletcher said:
It has repeatedly acted contrary to the best interests of the club and has shown, at best, indifference and, at worst, distain for the loyal fans, the wider local community and the city of Coventry as a whole.

Marcus Jones said:
We need the owners to look at their moral obligations to a city, a community and fans who have supported this proud club, with its 136 year history, for decades; they have not done that, as Members have said. We also need to ask questions of Wasps. I do not blame Wasps for its view—I would possibly take the same view myself—but we need to ask if it is willing to allow what has been the biggest sporting club in Coventry to be in a situation where it might cease to exist.

I would like to think our elected representatives aren't stupid but do they not see how it looks when they say how fantastic it is Wasps have been moved halfway across the country in one breath and that we shouldn't be considering playing outside the city & how important clubs are to the local community the next? Two of them were even involved in bringing Wasps here!

Covstu · Jan 16, 2019

chiefdave said:
Any publicity but nothing we didn't already know. Think I would sum it up as actions speak louder than words.

There was nothing suggested in this meeting that couldn't have already been put in motion so lets see them now move forward with some urgency and get Wasps back to the table. Ultimately that is the only thing that will result in us staying at the Ricoh.

Suggestions that SISU suddenly drop legal action are pissing in the wind unless someone has a way of bringing that about.

I would like to think our elected representatives aren't stupid but do they not see how it looks when they say how fantastic it is Wasps have been moved halfway across the country in one breath and that we shouldn't be considering playing outside the city & how important clubs are to the local community the next? Two of them were even involved in bringing Wasps here!

Bang on and this is the part that’s difficult to swallow. Just seem to get a free ride but would be the opposite view if they moved out and settled elsewhere

Nick · Jan 16, 2019

chiefdave said:
Any publicity but nothing we didn't already know. Think I would sum it up as actions speak louder than words.

There was nothing suggested in this meeting that couldn't have already been put in motion so lets see them now move forward with some urgency and get Wasps back to the table. Ultimately that is the only thing that will result in us staying at the Ricoh.

Suggestions that SISU suddenly drop legal action are pissing in the wind unless someone has a way of bringing that about.

I would like to think our elected representatives aren't stupid but do they not see how it looks when they say how fantastic it is Wasps have been moved halfway across the country in one breath and that we shouldn't be considering playing outside the city & how important clubs are to the local community the next? Two of them were even involved in bringing Wasps here!

They don't seem to care, as they have said the public opinion is well on their side. Hence they straight up lied about the things Lucas was saying when the sale was done and how much has been said about that?

Did any of them bring up the promise made by the council at the time of the sale?

chiefdave · Jan 16, 2019

Nick said:
Did any of them bring up the promise made by the council at the time of the sale?

Good point, why did Cunningham not ask that especially when there were former councillors present.

Nick · Jan 17, 2019

Have seen it now being mentioned that if CCFC don't get a deal they will cease to exist and that SISU just need to pick up the phone to Hoffman to sell it.

Is it another forced takeover attempt? If it works and we live happily ever after then great, if it doesn't then look what happened last time!

ajsccfc · Jan 17, 2019

Thanks to the right hon. Gentleman Captain Dart for posting the transcript on here, very handy. Three cheers, motion carried. The ayes have it

Captain Dart · Jan 18, 2019

Nick · Jan 18, 2019

Captain Dart said:

It's hilarious how he switches between I and we and speaks about himself in the third person and then tries to pat himself on the back from a different account!

Still boycotting for a made up reason?

shmmeee · Jan 18, 2019

fernandopartridge said:
Fletcher was a councillor when the stadium was sold to Wasps

I’d wiped her becoming MP from my mind if I’m honest. A disgrace to the name (edit: the Fletcher name that is)

Nick · Jan 19, 2019

shmmeee said:
I’d wiped her becoming MP from my mind if I’m honest. A disgrace to the name
(edit: the Fletcher name that is)

Yeah we don't like your ex! Especially not because she sold the Ricoh. Bitch

crowsnest · Feb 5, 2019

There was a debate in the commons yesterday regarding sport in the UK. Not one MP from Coventry was there.
Fit and proper ownership was mentioned but passed over. Nothing about the Ricoh/Sisu.
Did talk about safe standing, bringing back alcohol in the stadium, the fans having a seat on the board and matches being moved for TV.
Sport in the UK - Hansard

Irish Sky Blue · Feb 5, 2019

So rather than being pleased that someone in a position of power and influence has said that they want to help with the situation we are in, we chose to snipe at the person who has managed to get them involved.

CCFC are being discussed at Westminster today (1 Viewer)

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