Coventry City: Council 'open to Ricoh Arena freehold bids' (9 Viewers)

We all know what sort of independent valuation SISU will carry out. and how many packets of "Woodies" they're prepared to pay.

Huckerby said:

Jesus Christ the last thing I want is for those parasites to buy the freehold. Want to get rid of them not make them here for good

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So if they bought the freehold and moved us back you'd be upset would you?

Maybe we should just start again from scratch.....oh hang on what if you don't like the next owners?

Clowns like you make me sick.

wingy said:

Some think it means taking account that ACl will still hold the lease . I take it more that conditions and gaurantees would be needed to carry out expansion of facilities around the Complex that help generate more jobs ,which has been stated from the start .
This sounds like the part that has prevented trust from CCC from the start.

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I'm positive it means acl would still hold the lease, the only way ccc could sell the freehold unencumbered is to spends tens of millions buying out the leaseholders first and then sell to sisu, which is of course a ridiculous suggestion.

Noggin said:

I'm positive it means acl would still hold the lease, the only way ccc could sell the freehold unencumbered is to spends tens of millions buying out the leaseholders first and then sell to sisu, which is of course a ridiculous suggestion.

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Agree AL confirmed In interview with Shane.
So It goes on ,I think the media built this up for another fall.

There will of course already be a realistic valuation found in the CCC Book of Assets. It may be +/- 10% but at this stage it will be good enough to judge aany offers from potential buyers.

wingy said:

Agree AL confirmed In interview with Shane.
So It goes on ,I think the media built this up for another fall.

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If it keeps the story in the media, then it can only be a good thing. But the story might get buried with today's news that the NEC might also be for sale (which would be good, I hate the NEC and it needs to be dragged out of the mire that it's "communist but playing at capitalist" owners keep it in).

ACL might have actually devalued the Arena complex by offering a lower rent deal that still wasn't accepted, but I'm blaming SISU for that...

The freehold is not for sale. Rental deal or nothing. Simples

I think AL has given us the biggest insight to some of the problems that have encumbered any negotiations thus far, and hinted as to why Sisu have taken the JR route. Their is a deal to be done obviously, but commercially it has to take in to consideration all the existing contracts. The reason SISU have taken the JR is that if they were in control of ACL as was their original plan by purchasing the distressed debt, they would be in a better position as they would control the existing contracts.

We need a expert to tell us what this all means.

Selling encumbered in my mind means selling the complex freehold with all the existing contracts in place (Hotel, casino etc)

AL inferred that Sisu want to buy it without all the contracts in place.
I have seen a Sisu statement somewhere, probable Tim Fisher, that mentions its up to ACL/CCC to get rid of them first.

The questions are ......
- Is the complex worth less without tenants and the Sisu valuation reflects this. We can already see that CCFC tenancy has already pressurised ACL?

- Are CCC morally right to honour these contracts through the Sisu bid because it would cost a fortune to get rid of these contracts.? As inferred by AL.

- Is this the real sticking point, because it makes a difference to the value depending on tenants or not?