"Close to having the funds to buy part of Ricoh Arena" (More SISU bullshit) (1 Viewer)
- Thread starter skybluesben
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coundonskyblue
New Member
Didn't the Higgs trust put in about 20% of the money but ended up with 50% of the shares?
They seem to have done the best out of all the parties.
They seem to have done the best out of all the parties.
That was possibly a concession to the club for future opporotunity,having just said that i've contradicted myself ,oh shit ,still want to get CCFC hands on the stadium though ,ACL can have rest ,the land has no value this early in the lease,ACL holds the value ,split it up ,sell the actual ground to CCFC!!!!!!!!,fans whatever ,ACL remain their own entity ,£40m. should do it .
I hope that this is helpful:
The Club never owned the gas works land: they had an option to buy it. They owned a company called Arena 2000. They hadn't any money to exercise the option on the land. The Council did a deal with Tesco which enabled them to buy the land when the Club couldn't and Arena 2000 effectively ceased to exist and a new partnership was formed: ACL. . Arena 2000/CCFC had no money to develop the Arena and it was after a tense meeting of the full Council in October 2003 that the building of the Arena was made safe with ACL as the leaseholder. Not only did the Club not have the money to be a part of the development of the Arena but they had no money to continue to operate as a football club. They sold their shares in ACL so that they wouldn't go into administration. They have an option to buy back those shares. The loan of £21m was not build the Arena. It was to fund an advance payment of rent by ACL.
The Club never owned the gas works land: they had an option to buy it. They owned a company called Arena 2000. They hadn't any money to exercise the option on the land. The Council did a deal with Tesco which enabled them to buy the land when the Club couldn't and Arena 2000 effectively ceased to exist and a new partnership was formed: ACL. . Arena 2000/CCFC had no money to develop the Arena and it was after a tense meeting of the full Council in October 2003 that the building of the Arena was made safe with ACL as the leaseholder. Not only did the Club not have the money to be a part of the development of the Arena but they had no money to continue to operate as a football club. They sold their shares in ACL so that they wouldn't go into administration. They have an option to buy back those shares. The loan of £21m was not build the Arena. It was to fund an advance payment of rent by ACL.
Thanks pwkh,the £21 m. lease over 50 years represents the shortfall in the construction costs ,which means the council contributed ,£37m. to the entire project ,the sale of land to tesco £60m. ,covered all costs relating to land cleaning, clearing.Then recouped £5-10m. land from the club,AND around £15m. from grants and Casino,putting the councils input ' around £20m. , agood solution to this would be to seperate ACL and the rest of the complex off,with the club purchasing just the stadium element ,For £40-50m.IMO
brinner
New Member
In the interview, Dulieu also discusses:
* How the role of being the Sky Blues chairman has aged him....................you sure its not all that sun in the algarve doing that ken??
* Offers no guarantees that SISU will keep footing City's bills.....................they are using loans based on next 2 years season ticket sales to do this so sisu are not infact spending their own money on this.
* Claims that he was left a "horrible legacy" of out-of-contract players, a £30m debt and loathed owners.............well if sisu had let the current board offer decent contracts in the 1st place we would not have been in that position, plus 90% of those out of contract players were deemed surplus to requirements by our manager anyway so would not have been kept.
* Insists that he's striving to cut the club's losses by 40 per cent........................spending 25 days a month on a beach in portugal.
* In his spare time, he continues to look for outside investment for the club...........................while he is topping up his tan on the beech.
* Calls for the fans to be patient during these tough times.........................patience wears thin when constantly lied to for 2 or more years.
* Is adamant that SISU remains the club's only "fairy godmother".............................bullshit, there is a consortium waiting in the wings.
* Refuses to meet Gary Hoffman for takeover talks again until the club's former vice-chairman shows proof of funding........................which he has.
change the record ken ur getting boring now.
* How the role of being the Sky Blues chairman has aged him....................you sure its not all that sun in the algarve doing that ken??
* Offers no guarantees that SISU will keep footing City's bills.....................they are using loans based on next 2 years season ticket sales to do this so sisu are not infact spending their own money on this.
* Claims that he was left a "horrible legacy" of out-of-contract players, a £30m debt and loathed owners.............well if sisu had let the current board offer decent contracts in the 1st place we would not have been in that position, plus 90% of those out of contract players were deemed surplus to requirements by our manager anyway so would not have been kept.
* Insists that he's striving to cut the club's losses by 40 per cent........................spending 25 days a month on a beach in portugal.
* In his spare time, he continues to look for outside investment for the club...........................while he is topping up his tan on the beech.
* Calls for the fans to be patient during these tough times.........................patience wears thin when constantly lied to for 2 or more years.
* Is adamant that SISU remains the club's only "fairy godmother".............................bullshit, there is a consortium waiting in the wings.
* Refuses to meet Gary Hoffman for takeover talks again until the club's former vice-chairman shows proof of funding........................which he has.
change the record ken ur getting boring now.
brinner
New Member
that just says it all about our current board and the sisu parasites that pay their wages.
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Skyblues2k
Guest
The original interview as given to the daily mail
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Skyblues2k
Guest
final part of interview with the daily mail
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Skyblues2k
Guest
The interview was last week!
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Looks like there are many ways to read this article and place bits and pieces into context that suits specific agendas.
torchomatic
Well-Known Member
Mmmm....I'm sure I read somewhere that we DID own the land, but I may have misinterpreted the article. I'll try and find it again.
torchomatic
Well-Known Member
What a hysterical little girl you are!
I'm not saying SISU are great, they are obviously not, but at the moment there is no alternative. However, just saying you want them to fuck off doesn't do anyone any good because as I said who's going to pay our bills? You?
I want SISU gone as much as the next man but someone needs to be there to take the reins. Hoffman? He talks the talk alright...
I'm not saying SISU are great, they are obviously not, but at the moment there is no alternative. However, just saying you want them to fuck off doesn't do anyone any good because as I said who's going to pay our bills? You?
I want SISU gone as much as the next man but someone needs to be there to take the reins. Hoffman? He talks the talk alright...
sky blue john
Well-Known Member
I'm sorry what a load of bull s hit. Sisu have not got a pot to pi ss in. The parent company has returned losses the last two years, they have also got loans against ryton and future season tickets. So to say that they have the money for half the stadium is the biggest joke I have heard for a long time. They don't even have money to fund one loan signing.
Tankie
New Member
News by Christmas, Oh that's if Santas got room on his Sled
And its reassuring, that the "sun kissed one"will put some input into the club when he's got more spare time.
Why would the council or higgs trust, sell there share of a lucritive venue to an off shore shyster
I mean "would you buy a used car" from Khaki Ken...
And its reassuring, that the "sun kissed one"will put some input into the club when he's got more spare time.
Why would the council or higgs trust, sell there share of a lucritive venue to an off shore shyster
I mean "would you buy a used car" from Khaki Ken...
I'm sorry what a load of bull s hit. Sisu have not got a pot to pi ss in. The parent company has returned losses the last two years, they have also got loans against ryton and future season tickets. So to say that they have the money for half the stadium is the biggest joke I have heard for a long time. They don't even have money to fund one loan signing.
Sisu themself are not investing any money - they manage funds that do. If sisu themself makes profit or losses are irrelevant to the funds and the investment into this club.
Money to buy the stadium will come from new investors setup in a new fund managed by sisu.
kdrinkell
Well-Known Member
I prefer to call him Ken 'haven't a clue' Delieu
SkyBlue_Bear83
Well-Known Member
So a year or two ago we were losing 500k a month, lots of the highest earners leave King, Gunnar, Westwood, Mcindoe, Doyle, Carsley, Turner plus other and we are still losing 500k per month, also apparently we are losing 8-10 million per year so losing 10 million pounds a year at 500k per month means there are 20 months ins a year.
:facepalm: Ken is living in fantasy land
:facepalm: Ken is living in fantasy land
CovKingChris
Facebook User
I've been finding it easier to find fake-tan recently. Thats probably why our losses are reducing, he must be cutting back a bit.
I think you will find that 'more valuable' is in regard to the balance sheet. 2 new players and a few players on new contracts. 8 players gone - all out of contract. The result is the assets have increased.
THE POSITIVE NEWS IS"THAT PROGRESS WOULD BE THAT WE HAVE OPENED NEGOTIATIONS" . The more i read this article , this is the line that counts ,and there is no substance what so ever in it.the rest is bleating that they're not loved ,a status report ,and discrediting suitors. its a plea of desperation ,he knows Hoffman would be a preffered purchaser of Higgs through local connections ,the same for the council. So by holding Hoffman off,this one line is designed to a,) suggest to us they can get ahead of hoffman in respect to Higgs,b,)Embarrass Higgs /Council to talk to them,they have no idea how unwanted they are .
Nonleagueherewecome
Well-Known Member
Doing a late-night catch-up as haven't been able to get on much today...nice one Brinner you saved me from typing something like that myself! Agree with all your *'s; this latest interview is really rubbing salt into the wounds. Crap paper to do it with, to. I take solace from the fact that the majority of fans seem to be capable of seeing it for the illusionary spin that it is. AKA bullshit
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I wrote to the telegraph a couple of weeks ago to see if they would do an article on how we got in this mess regarding the stadium,as i think age and youth have blurred things ,hoping we could convince fans to stop beating the club up when talking about the right to seek purchase of the stadium,as an adendum ,i suggetsted the question worth asking sisu was "have they had ,or plan to have meetings with the council,wonder if they passed it on as too politicalDoing a late-night catch-up as haven't been able to get on much today...nice one Brinner, you saved me from typing something like that myself! Agree with all your *'s; this latest interview is really rubbing salt into the wounds. Crap paper to do it with, to. I take solace from the fact that the majority of fans seem to be capable of seeing it for the illusionary spin that it is. AKA bullshit
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Nonleagueherewecome
Well-Known Member
Edited your post due to an error in my quote, Wingy :facepalm:
I originally credited the wrong person with the post I quoted.
I originally credited the wrong person with the post I quoted.
I clocked it ,thought you might have had a glass or two
OSB should be back tommorow i think .be good to hear his reasoned approach to it all.
Nonleagueherewecome
Well-Known Member
Well it makes you wonder what Ken is talking about...he treats the "seeking investment" thing like a minor sideshow in that interview, yet surely that is the number one priority if they are serious about wanting the stadium. And if there is a dialogue with the council, the council are obligated to show some transparency. I'm constantly gutted, as a WCC employee, when I read the documentation of various Council meetings, with the notes of attendees stating "No members of the public attended". If they were meeting the council, we probably wouldn't notice!
Nonleagueherewecome
Well-Known Member
I clocked it ,thought you might have had a glass or two
10th day at work in a row tomorrow! Then a joyous weekend off, ahh. I should get to bed really...but Scrubs is on in a minute.
Nonleagueherewecome
Well-Known Member
Ha ha, Radio 5 just had a live interview with a bunch of Libyan-born lads on The Edgeware Road celebrating the Gaddafi death...asked where they'd come from this evening to join in the events, they all cry "COVENTRY!!"
