Broken Hearted Sky Blue
Well-Known Member
Correct but only since they found out what Sisu were really like
It has been ACL's and CCC's policy to edge SISU out, now, they don't, shouldn't, have that power.
It has been ACL's and CCC's policy to edge SISU out, now, they don't, shouldn't, have that power.
Shown when PWKH and another ACL person ties a 'SISU Out' balloon on Fisher's car, it was unprofessional, it compromised their impartiality, but most of all, how can they negotiate with people they treat with contempt? ACL have held back a deal just as much, if not more, than SISU.
It has been ACL's and CCC's policy to edge SISU out, now, they don't, shouldn't, have that power.
Something is worth what someone is willing to pay for it, SISU obviously had planned to buy the loan for 5m if ACL defaulted but they hadn't, ACL have always paid what they owed so why would their mortgage be worth a tiny percentage of what was owed?
I owe 100k on my mortgage and have always paid it, do you think my bank would be willing to sell you my mortgage for 30k? when its going to make them 150k or so eventually?
If the mortatge was worth only 5 mill why didnt SISU buy it from the bank before the council? because it obviously wasnt only worth 5 at that point. It's possible its value would have droped if ACL couldnt and didnt pay but that didnt happen.
I really dont understand how trying to bankrupt a company you owe money too in order to buy them cheap isnt illegal.
One word: Capitialism.
Diametrically opposite to reality. It's been SISU's intention to oust ACL - proven by this court action. ACL may have been aggressor, but only being reactive to hostile intent started by SISU. To pretend otherwise is delusional in the extreme
Try: immoral
Correct but only since they found out what Sisu were really like
Hang on, what if the CCC had over backed ACL, IF the loan was only worth 5m, not 14m, then it would be a even more of a disgrace to lend 14m of taxpayers money on this, especially given the economic hardship and cuts imposed from he HoC, yes, that would be immoral and disgusting from the CCC.
Let's just get a couple of things clear here. Any claim that the Council somehow did the club out of money when the Ricoh was built is ridiculous.
The club never owned the land on which the Ricoh was built - just an option to buy which they could not take up. The Council and The Higgs Trust had to step in to buy the land and fund the build - no Council, no Higgs, no Ricoh. So how can they 'owe' the club anything?
Can capitalism be moral? Not really.
Simply not true. They did not 'buy the land' and they didn't 'fund the build' either. The council's contribution (from its own coffers) was minimal, but they did help bridge the funding shortfall by securing a loan from the bank which was paid by ACL (up until recently at least). They did help facilitate the building of the arena, but to say they 'funded' it is nonsense.
Pretty sure SISU won't get anywhere with this. Council have a 50% stake in ACL so would surely be seen as protecting their existing investment.
Actually, I did. Nothing wrong with Highfield road. Least the club owned it. Moving to the ricoh has been a financial burden.
ACL have been trying to edge SISU out, in fact, I'd almost guarantee a rent agreement would've been settled by now if SISU weren't owners.
They're both at it, SISU want ACL out of the picture, ACL want SISU out of the picture, who wanted who out first? I don't know.
Yes it can.
Distorting the market is against UK and EU law, that's what SISU will argue, if ACL and CCC have, stay tuned folks.
@Lesreidpolitics: 2/2 #CCFC Holdings will claim in court #acl mortgage with Yorkshire Bank was worth circa £5m, not £14m Coventry council taxpayer paid
SISU have never had any intention whatsoever of co-operating.
If your willing to cut your profits by a massive percentage, it can be, just. Fair Trade is the best example, but how many of the most profitable businesses use fair trade? Nike (all those sports brands) Primark don't for starters.
When, or if, the 3rd world becomes unionised, capitalism's foundations will be shook to he core.
Distorting the market is against UK and EU law, that's what SISU will argue, if ACL and CCC have, stay tuned folks.
ACL have been trying to edge SISU out, in fact, I'd almost guarantee a rent agreement would've been settled by now if SISU weren't owners.
They're both at it, SISU want ACL out of the picture, ACL want SISU out of the picture, who wanted who out first? I don't know.
Council funded the loan to ACL by taking out a loan themselves using a lower rate of interest. They will have been able to do this as they have a better credit rating than ACL would have.
So in fact this is actually benefiting taxpayers by generating income for the council.
You got it.. pure $$$ chasers, devoid of ethics. Gimmee gimee gimeee..
jim again.. you are either not reading the statement.. or just making stuff up to suit your argument .. what part of the following statement are you not grasping..
"council officers told the Telegraph the £14million had initially come from the council's “cash balances“ * money set aside for unspecified council spending."
so they DID use council tax payers money.. they did not do what you keep saying.. and they have not yet offset that debt anywhere else..
it came out of tax payers money.. and it is still that way now!
and more to the point.. if the council had 14 million in surplus cash lying around.. then why did i wreck 600 pounds worth of alloy wheels recently , driving through war zone potholes all over the city!
Hmmm.
Rent reduction of £900k.
Outstanding arrears reduced from £1.3m to £600k.
Escrow reduced to £200k.
ACL's share of F+B.
ACL to cross invoice total F+B revenue.
CCFC to regain 50% car parking revenue.
Yeah, sure looks like they were trying to force the club out Taylor. The rent boycott commenced at the same time as the ARVO charge-April 2012, when Thorn had secured relegation. Quite bluntly the intention was always to distress ACL and take control of it on the sly or, if that failed, use the charge to stop them getting anything.
SISU have never had any intention whatsoever of co-operating.
Good Lord. It's not about a rent agreement. Please tell me you see this. I'm losing strength :facepalm:
Good Lord. It's not about a rent agreement. Please tell me you see this. I'm losing strength :facepalm:
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