Otis
Well-Known Member
Ex bloody actly.
Sorry I never meant it never meant sense to our club or us. I meant it doesn't make sense to SISU to build a stadium.
Didn't Northampton spend about 10m on one stand and run out of money? They already had the land. We need to go from nothing to a full build. We would need to buy the land to start with. It would cost SISU more than they think. How would they get the money back? They have already lost enough without risking much more. Have they got access to many more millions? Our club wouldn't suddenly be worth 30m if they spent 30m on a new stadium.
Have you worked out the interest on the cost of building a stadium and buying land, it's makes a rent of £1.3m look cheap.
Have you worked out the interest on the cost of building a stadium and buying land, it's makes a rent of £1.3m look cheap.
Please read the following statement in response to the liquidator's offer being turned down by the Alan Edward Higgs Charity...
This morning the liquidator's offer for a stake in the Ricoh Arena company, was turned down by the Alan Edward Higgs Charity.
Naturally, the club are extremely disappointed. Our proposal was for a far-reaching partnership with the Higgs Charity to work together on community projects. Our offer was a unique opportunity to meet the twin objectives of the Club and the charity, using the power of football and sport in creating community cohesion and for the benefit of the whole Coventry community.
Despite the fact that access to critical documentation was denied, the liquidator's offer for the charity’s 50% stake in the Ricoh Arena was generous – around £2.8 million – and guaranteed above market value price. Alongside the proposed CCFC-Higgs Charity partnership, we felt this was the right deal for everyone concerned that demonstrated our ambition for the future of the club in the city. We have pursued every possible avenue.
Our deal at the Ricoh with Wasps remains in place. We will be playing our home matches there for the next four seasons and look forward to working with Wasps to ensure our mutual success on and off the field.
Our ultimate goal is to return CCFC to the Premier League but we can only do this if we own our own stadium, allowing us to access 100% of our revenues. In the near future, we will be able to give our fans more details of our plans and tell you where the new stadium will be.
The liquidator has declined our request, in the interests of transparency, to publish the full details of the offer. We have released in full the detail of our proposed community partnership with the Higgs Charity. We have continually stated since our return to the city, that community will be at the heart of our development and that still remains very much the case.[/QUOTE
Just stop all the crap, why cant you not tell us where this new stadium is going to be so we can make our own minds up. All this confidentiality is rubbish.
either put up or move on.
But it doesn't work does it? We've continued to lose money, continued to have to sell our best players to help fund losses, continued to lose supporters, continue to lose more revenue, and the spiral goes on.
In league one and two, a rent only deal could just about work. In the championship we will have one of the lowest 3-4 turnovers in the league despite have better attendances than half the other teams (see the relegation season).
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
It can work, over 50% of league clubs rent their stadiums.It doesn't work with the SISU model of dish up shite on the pitch, piss off your customers, drain the spirit and soul from the club, alienate a whole community. They come on here tonight peddling the same old crap and some just want to swallow it.
It can work, over 50% of league clubs rent their stadiums.It doesn't work with the SISU model of dish up shite on the pitch, piss off your customers, drain the spirit and soul from the club, alienate a whole community. They come on here tonight peddling the same old crap and you swallow it.
It can work, over 50% of league clubs rent their stadiums.It doesn't work with the SISU model of dish up shite on the pitch, piss off your customers, drain the spirit and soul from the club, alienate a whole community. They come on here tonight peddling the same old crap and some just want to swallow it.
Speak for yourself.
And who do you think would be mad enough to lend any money to this bunch of clowns unless it is at ridiculous wonga rates?So you bought a house cash? Nobody has 'enough' money to buy a house. They borrow it. Virtually every new stadium built in recent years has been mortgaged in some form or another.
I usually do. Don't feel it correct or necessary to speak on behalf of thousands of other supporters.
Ok astute , how do we back SISU when at every turn they go the wrong way ? An owner that has something to sell puts the customer first , this shower turn to the customer as a last resort with a ridiculous press release . Theve made enemies with everyone they have had dealings with . Now we've lost the stadium . Do we buy season tickets if the football is shit or buy a shirt every year . Some would have a blanket ban on anything anti SISU , to be replaced with something anti franchise or anti wasps . It was all there in the palm of SISU 's hands and they dropped the ball . Years of mediocrity await
And who do you think would be mad enough to lend any money to this bunch of clowns unless it is at ridiculous wonga rates?
You won't find many that were more vocal against SISU than myself. But I didn't expect CCC and Higgs to shit on us. What I was hoping for was both of them to hold on to the arena until SISU saw sense or left our club. That chance has gone. So what is next?
What we need from SISU is honesty and vision. If it is staying at the Ricoh we need to back them in getting the best deal they can get. If it ends up being a new stadium they will need us behind them. But our club must come first. And if helping SISU helps the situation that our club is in then so be it.
Of course. But on that statement "I would rather we stayed in league 2 than built our own ground", I think you may actually be on your own. And I wouldn't want that
Sorry I wouldn't -- moving out of the Ricoh and ownership now is the priority.
It all depends to what extent repayments can be offset against revenues that the facility would generate. None of us know what is planned, it may end up containing an adjacent housing development for all we know. What will the naming rights be worth? Will the catering contract be sold off at the beginning for the first few years to help finance the build? Will there be a hotel built? Will that be sold, or leased to an operator?
SISU are stupid, but surely not that stupid to build a ground that is not commercially viable.
The interest on 30mill at 5% a year is 1.5million. So this arena basically needs to be more successful than the Ricoh just to break even and that assumes 5% interest is viable. I don't know about you but I think anyone that gave money to sisu to build a stadium with at only a 5% a year return is a freaking moron. My father in law loans to a developer at 20% interest, there are companies you will invest your money in development projects for you at about 13% interest if you want to be part of their whole fund, or 17% if are willing to take the increased risk of just going in on one project (admittedly this is unsecured lending) though I don't think anyone should feel comfortable even with secured lending as sisu are clearly masters at rigging the system in their favour. You can stick your money in a mutual fund that tracks the market and this grows on average 7/8% a year, there is some risk but you are massively diversified and long term it's a pretty safe bet, much much much safer than loaning to sisu to build a stadium so 5% just doesn't seem achievable to me at least not until the stadium is built and profitable and then the money can be refinanced once the biggest risks are gone.
Another one not doing the figures and following Tim's every word.
At least ask him to show you his figures rather than lathering up when he makes the same delusional statement.
CCFC will NEVER own a stadium that Sisu build.
Sorry I wouldn't -- moving out of the Ricoh and ownership now is the priority.
Not done the figures?!
Its hard to fathom if you are thick or just a great big WUM .
Find a club ground that either isn't owned by its holdings company or the council on a hugely subsidised deal in the football league then get back to me.
Do you ever ever make a rational and sensible post?
No idea who owns what football ground. But I do know that Scunny are trying to get a ground built by builders that own the land. IIRC it is estimated that it will cost just under 20m.
Less than the F and B rights at the Ricoh then -- bargain
Sky Blues to reveal new stadium home next month... http://www.coventrytelegraph.net/news/coventry-news/sky-blues-reveal-new-coventry-6509943
Errr.. hold on that was a story from January 2014!!!!
Sky Blues to reveal new stadium home next month... http://www.coventrytelegraph.net/news/coventry-news/sky-blues-reveal-new-coventry-6509943
Errr.. hold on that was a story from January 2014!!!!
You seem to have forgotten that they couldn't announce the deal because AL would find out the location from her evil cave and press evil buttons to send out evil minions and scupper the deal. The reality is it's a dun deal. Either that or they've now narrowed it down from 3 sites too 2.
So you bought a house cash? Nobody has 'enough' money to buy a house. They borrow it. Virtually every new stadium built in recent years has been mortgaged in some form or another.
You know what I would dearly love to see? A list of all the sites they have previously identified but fell through. Can we see that list please?
Their stadium is also world's apart from the Ricoh facilities but I know what you're saying.Absolute guff. No club has anything like the rental arrangement we have. We rent use of the pitch on a limited number of days a year.
Walsall, for example, pay rent that enables them to operate that stadium 365 days a year for their OWN benefit - they are the stadium operators. So that means they can sell advertising space next to the M6 (worth 150k a year), it means they can run a VERY lucrative Sunday market, it means they receive all parking revenues, it means they can use the function room and bars within the ground for their own benefit 365 days a year. They 'rent' their stadium too, but it is world's apart from the deal we have.
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