Coventry City owners invite council to talks over Sky Blues returning to Ricoh Arena (1 Viewer)

[chiefdave]

Cllr Lucas has not so far confirmed that she will discuss a sale and does not appear to have commissioned an independent valuation to get the ball rolling

can you explain to me why an independent valuation needs to be done first? My house isn't for sale, nothing to stop anyone making a bid for it and nothing stopping me then selling it to them if I feel it's a price I want to sell at.

as far as I'm aware it's not down to Lucas to say yes or no. If a formal bid was made it would need to go to a council vote wouldn't it?

 

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[sky blue john]

Talk is cheap !!!
What a load of bollocks, the council haven't had it valued blah blah blah !!!!!!!
The councils accountants will have a valuation figure wants the problem ?
What is to stop Sisu making an official offer if they are serious ?

 

[Nick]

can you explain to me why an independent valuation needs to be done first? My house isn't for sale, nothing to stop anyone making a bid for it and nothing stopping me then selling it to them if I feel it's a price I want to sell at.

as far as I'm aware it's not down to Lucas to say yes or no. If a formal bid was made it would need to go to a council vote wouldn't it?

I guess it being an independent it shows a "fair" figure to help with bidding and discussing money. I don't see the harm in it, if anything it helps. Then if SISU offer 10% of the valuation we can see it is them trying to be dodgy and likewise if the council say 500% of the valuation we can see it is them.

 

[rodders]

How often has Ann Lucas said her she cannot tell us what is going on because of Legal advise the councils actions led to the loss of ten points this could have been avoided sell the loss making stadium and get football back in Coventry

 

[Sub]

how often have SISU said the same thing because of legal reasons? what about the information on the land for the new stadium how many weeks ago were the fans promised an update? SISU not paying the rent has lead to all this action and not doing due dillagence in the first place.:facepalm:

They are as bad as each other for hiding behind legal reasons

 

[CarpyCov84]

Thought they had "moved on" ?

 

[chiefdave]

I guess it being an independent it shows a "fair" figure to help with bidding and discussing money. I don't see the harm in it, if anything it helps. Then if SISU offer 10% of the valuation we can see it is them trying to be dodgy and likewise if the council say 500% of the valuation we can see it is them.

there being no harm in it is not the same as nothing being able to happen until the valuation is carried out. there will be a cost involved in getting the valuation done, why don't SISU pay to have their own valuation done, make a bid on that basis and then we move forward from there. The council not having done a valuation in way stops SISU from moving forward and making a bid yet in their statement it appears they are trying to use that as an excuse.

 

[bigfatronssba]

How often has Ann Lucas said her she cannot tell us what is going on because of Legal advise the councils actions led to the loss of ten points this could have been avoided sell the loss making stadium and get football back in Coventry

Loss making?

How much of a loss is ACL making then and how much has it lost during its 8 year life?

 

[Astute]

As the council have used 14 million pounds of our money to prop up a failing business I think it's something that needs a judicial review but if she is honest about us getting back it should not stand in the way of any new negotiation we need action no more rhetoric

Was it your money CCC loaned on behalf of ACL? Do you own the company that lent the money? If not it is not your money.

Torchy are you still pretending it is CCC money loaned to ACL to stop the SISU plan working?

 

[sky blue john]

Another point why its all Sisu bull shit !!!
In the article it states Joy will "shortly" write to Ann Lucas !!!
If i was making a statement and wanted it to mean something i would have said i have written to Ann Lucas and already done it !!!!
half arsed bull shit !!!
The sooner the thick sixfields cowshed huggers realize it will be to late !!!!

 

[bigfatronssba]

Surely if the council get a valuation done it signifies they want to sell?

Once someone knows you want to sell they put in derisory bids. Much in the same way that if you want to sell a player you tell everyone he's not for sale.

I would hope all of us want the Coventry taxpayer to get the best deal from any potential sale?

 

[sisu go home]

CONSPIRACY THEORIES-A-PLENTY! Fact is though, Sisu have made it clear what they want to do to move us back to the city, and whether I like them or not, that's what we all wanted isn't it? Either scenario makes business sense in the long run - so regardless of whether you think Sisu should own it or not, the original plan was Coventry City FC own the whole thing to make outside revenue regardless of all these theories about how NOPM is working, or they'll sell the land to gypsies or whatever.

I think in ACL & the council's shoes, I'd sell the stadium part on the condition the stadium is to be used primarily for Coventry City FC, but also keep the Arena part for ongoing profit and local jobs.

 

[valiant15]

they do if they want the club back though

sisu want to own a ground for ccfc, nothing wrong with owners wanting that

council are saying you cant have ricoh and you cant build your own within coventry

does that not seem slightest bit unfair?

Why do they need the freehold? They don't. They need a peppercorn rent and the income streams to make money.

 

[bigfatronssba]

CONSPIRACY THEORIES-A-PLENTY! Fact is though, Sisu have made it clear what they want to do to move us back to the city, and whether I like them or not, that's what we all wanted isn't it? Either scenario makes business sense in the long run - so regardless of whether you think Sisu should own it or not, the original plan was Coventry City FC own the whole thing to make outside revenue regardless of all these theories about how NOPM is working, or they'll sell the land to gypsies or whatever.

I think in ACL & the council's shoes, I'd sell the stadium part on the condition the stadium is to be used primarily for Coventry City FC, but also keep the Arena part for ongoing profit and local jobs.

But the statement has said they need the Freehold.

I've yet to see anything that convinces me that will be any good for the club.

 

[covcity4life]

Why do they need the freehold? They don't. They need a peppercorn rent and the income streams to make money.

so no club in the world requires their own ground?

 

[RPHunt]

If SISU are serious about listening to fans, why don't they listen to the majority of fans most of whom would like them to get an independent valuation of CCFC, sell it and go away.

 

[bigfatronssba]

so no club in the world requires their own ground?

Plenty manage without.

Freehold generates no revenue.

 

[lewys33]

Why on earth would anyone deal with someone who is taking them to court?! Some people are idiotic.

If people really think that the best situation is for the council to sell the Ricoh (including freehold) then you should be pressurising SISU to drop the JR first. Only then is there a POSSIBILITY of a deal. Until the JR is dealt with there is no point in even wasting time discussing this.

 

[covcity4life]

Plenty manage without.

Freehold generates no revenue.

would it not help with ability to develop, do stuff outside football that brings money in?

 

[Sub]

means to an end.

same for the council and ACL then , and we are still no further forward

 

[valiant15]

Sisu are desperate,this could be the last roll of the dice for them. They wont build a new ground. Who's to say if they don't get what they want from the council then they might just cut their losses and walk away?

I think the council should stay strong,don't offer them the freehold,offer them the income streams and £150k a year rent.

 

[Godiva]

Freehold generates no revenue.

would it not help with ability to develop, do stuff outside football that brings money in?

It might, but I still would like to know 'what', 'how' and 'how-much'. If I was on Twitter I would ask Les Reid if he could enlighten me - or if he would be so kind as to ask sisu.
The club need to own ACL - that makes sense to me. The freehold? What am I missing???

 

[bigfatronssba]

would it not help with ability to develop, do stuff outside football that brings money in?

Acl legally control all such activities.

Freehold effectively buys you a building that you cant do anything with.

 

[valiant15]

so no club in the world requires their own ground?

No you don't need to.

 

[bigfatronssba]

It might, but I still would like to know 'what', 'how' and 'how-much'. If I was on Twitter I would ask Les Reid if he could enlighten me - or if he would be so kind as to ask sisu.
The club need to own ACL - that makes sense to me. The freehold? What am I missing???

For once I agree with you!

Putting aside and existing feelings towards Sisu or the Council, the best thing for CCFC is to own the leasehold.

 

[valiant15]

Acl legally control all such activities.

Freehold effectively buys you a building that you cant do anything with.

Could they remortgage the building to the hilt, liquidate the club and walk away with a wad of cash that way?

 

[Godiva]

For once I agree with you!

Putting aside and existing feelings towards Sisu or the Council, the best thing for CCFC is to own the leasehold.

Many seem to agree with me these days - must be a virus or something.

On a serious note - there must be something about owning the freehold that gives control over the leaseholders ... but all the usual suspects who could enlighten me are totally silent.

 

[bigfatronssba]

Could they remortgage the building to the hilt, liquidate the club and walk away with a wad of cash that way?

Question for OSB that!

 

[bigfatronssba]

Many seem to agree with me these days - must be a virus or something.

On a serious note - there must be something about owning the freehold that gives control over the leaseholders ... but all the usual suspects who could enlighten me are totally silent.

Well I'm just assuming that common law with regard to a leaseholder would still apply. Such as if you lease a factory premises the landlord has no say over your business.

My understanding is Acl are free to do whatever they please with the stadium providing it doesn't affect the building itself?

 

[Godiva]

Could they remortgage the building to the hilt, liquidate the club and walk away with a wad of cash that way?

A mortgage is always secured and based on the valuation of the property. If the club bought the freehold for a price close to an independant valuation there's no profit in what you suggest.

 

[lewys33]

Many seem to agree with me these days - must be a virus or something.

On a serious note - there must be something about owning the freehold that gives control over the leaseholders ... but all the usual suspects who could enlighten me are totally silent.

Isn't it something like owning freehold means you can put loans against it? May be wrong as I have no idea when it comes to stuff like that

 

[valiant15]

A mortgage is always secured and based on the valuation of the property. If the club bought the freehold for a price close to an independant valuation there's no profit in what you suggest.

Hence why they want the freehold for peanuts maybe? ?

 

[chiefdave]

Hence why they want the freehold for peanuts maybe? ?

spot on, this is the only thing that makes sense to me as a means to SISU getting their money back. pick up the freehold for well below market value, load as much debt as possible against the freehold. use that money to pay off the clubs 'debt' to SISU and then just walk away or stop paying the bills and wait for us to go into admin. the worry then would be what happens to that debt, if it's tied in anyway to CCFC we have problems for decades to come.

 

[Godiva]

Hence why they want the freehold for peanuts maybe? ?

But do they? They ask for a price based on independant valuation - if they pay that, it won't be peanuts.

 

[shmmeee]

they do if they want the club back though

sisu want to own a ground for ccfc, nothing wrong with owners wanting that

council are saying you cant have ricoh and you cant build your own within coventry

does that not seem slightest bit unfair?

Inaccuracies, inaccuracies everywhere!

Sisu say they can only play in Cov if given the freehold. Two thirds of League clubs don't own the freehold, a case has yet to be made as to why this is essential for CCFC.

Joy Seppala alone has made the decision for a new ground not to be in Cov, for the highly professional business reasons of "I don't like the council". CCC could not refuse planning permission if it's a valid application and haven't AFAIK said that they'd try.

The council are not saying "you can't have the Ricoh" unless you read this very differently to me:

I can guarantee anyone with sensible and sustainable plans for the future of the football club and the Ricoh Arena can talk to me. This is a level playing field, and anyone who wants to play fair can do so. That's all I ask. This is an offer that's open to all - whatever's happened in the past.

Quite clearly that's an offer to talk. An offer I might point out that has been met with legal proceedings and a barb filled press release.

This press release is the definition of tit for tat and is no more useful to everyone's aims of getting the club home than one of the slightly saner pro-Sisu posts on here.