sky blue john
Well-Known Member
Some are saying which i also thought was a possible solution and that is to purchase Acl. But that doesn't automatically gurantee an income ?
Coventry City owners invite council to talks over Sky Blues returning to Ricoh Arena (2 Viewers)
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This is exactly what im thinking. Its the only way they'll get some of their money back.
Ccfc will be shafted for decades.
shmmeee
Well-Known Member
Is that normal? You know about this stuff more than me. How usual is it for a company to demand an independent valuation of something that isn't "for sale" before making a bid? Particularly through the press.
shmmeee
Well-Known Member
It's the only thing that would apart from selling off the development land (which I would ask: if that's so easy, why haven't CCC done it already?).
I'd guess the first move on ownership of the freehold would be to call the lease to ACL illegal and go about hiking up the rent. But ACL is where any profits from concerts, hotels, conferences, etc comes from.
fernandopartridge
Well-Known Member
In truth nothing is 'normal'. It would be the sale of a non standard property, it's hard to value.
The circumstances surrounding the whole saga are pretty unique (some might say) so to look for something to compare it with is quite difficult.
torchomatic
Well-Known Member
Which is why ACL/CCC are trying to palm the development of the surrounding area onto the Club's owners, or potential owners when they were all over PH4 like a rash. Which reminds me. I thought he was buying the Ricoh...
sky blue john
Well-Known Member
In terms of freehold valuation we know that it couldn't be under 14million because that is the value of the outstanding loan !!!
So if Sisu are proposing less than that it isn't going to happen !!
So if Sisu are proposing less than that it isn't going to happen !!
torchomatic
Well-Known Member
I think it was a suggestion made some times ago, that both parties should appoint their own choice of independant valuators and that a price could be agreed as the average of the two.
But again - if CCC are not interested in selling to the club under sisu ownership, then that's their choice and we should be told clearly. Then it will be up to sisu if they will build a new stadium and if so we should expect the CCC to fully support that decision.
Astute
Well-Known Member
But the loan was made by a loan company and not out of council funds. So how can this be our money?
Yes, because its all been plain sailing for the last 20 years!
Nonleagueherewecome
Well-Known Member
Why should there be an independent valutation? That doesn't happen in 99.999999999999999999999999999% of business tramnsactions, why now? Becase Joy's a spoilt little bitch looking for a bargain?
I do love the statement. "We generally try to avoid tit-for-tat press releases and hadn’t intended to respond to the statement rushed out by Cllr Lucas following the demonstration by fans outside the council house."
"We don't do spin. Oh btw, here's some spin
"If that CCC statement was a response to the piss-poor protest the other week, then perhaps Joy's interview with Reid was a response to NOPM?
SkyBlue_Bear83
Well-Known Member
There is no common ground for talks to begin on, both parties want different things.
The club is on its knees because of sisu. Things have never been this bad.
Sub
Well-Known Member
Why should there be an independent valutation? That doesn't happen in 99.999999999999999999999999999% of business tramnsactions, why now? Becase Joy's a spoilt little bitch looking for a bargain?
I do love the statement. "We generally try to avoid tit-for-tat press releases and hadn’t intended to respond to the statement rushed out by Cllr Lucas following the demonstration by fans outside the council house."
"We don't do spin. Oh btw, here's some spin
If that CCC statement was a response to the piss-poor protest the other week, then perhaps Joy's interview with Reid was a response to NOPM?
i am not saying there should be just asking a question if a valuation was done and its less than the loan the council made would it effect the court case?
RoboCCFC90
Well-Known Member
Something I believe hasn't been done so far Godiva.
SISU mentioned the independent valuator in their statement, reading between the lines it sounds like if CCC get a price SISU maybe willing to meet it, I agree with the idea mentioned earlier in your post, I call it 'Location, Location, Location Style Valuation' get two independent valuator's and using the two prices determine a fair average as a selling price.
WiganSkyBlue
Member
Not quite. The council is funded partly by council tax payers (something of the order of 15% - 20%) with the rest coming from the government from general taxation, so I also have an interest as a general tax payer.
So it's my money as well.
lewys33
Well-Known Member
I don't see why CCC would pay for an independent valuation on something they have not expressed a desire to sell?
torchomatic
Well-Known Member
Also. They can only spend capital (i.e. money from central government) on certain things. For example, a council service maybe be woefully short on staff. However, the authority can't use capital money to pay for staff, only revenue which they may not have much of.
Which is why you get crazy schemes such as spending £1.4M on doing up the road outside the council house while services go to pot.
Which is why you get crazy schemes such as spending £1.4M on doing up the road outside the council house while services go to pot.
Joy could have replied to Ann's statement by writing to her privately, arranging a meeting with no preconditions and then come out of the meeting with a joint statement whereby both sides confirm what they have agreed or not agreed. Then we would all know where we stand and in which direction CCFC is going. So this release is unprofessional and a blatant propaganda attempt to redress the damage caused by NOPM and Ann Lucas' statement which shows SISU in a bad light. It only annoys the council. With a joint statement we would know if a valuation was even necessary before discussing it. We don't need these tit for tat statements, we need professional and courteous discussions. A better opening move would have been to drop the JR.
torchomatic
Well-Known Member
Well, they certainly had the "desire" in the past, haven't they? If they don't want to sell to SISU then at least we can all move on. SISU can build their stadium and CCC will have their own sports arena.
lewys33
Well-Known Member
A better statement would have been:
"SISU has decided that in the best interests of CCFC and its investors the JR will be dropped, and JS will be writing privately to AL shortly to arrange a meeting date to discuss the purchase of The Ricoh Arena."
What would be so wrong in SISU admitting defeat on something for once?
"SISU has decided that in the best interests of CCFC and its investors the JR will be dropped, and JS will be writing privately to AL shortly to arrange a meeting date to discuss the purchase of The Ricoh Arena."
What would be so wrong in SISU admitting defeat on something for once?
torchomatic
Well-Known Member
They've both blabbed to the press in the past. Remember Lucas' "Woman to Woman" statement. How do you view that? Differently, I guess.
lewys33
Well-Known Member
I agree to an extent. I don't think desire is the right word. We could go over that question a 1000 times over with different scenarios really. I think SISU should be the ones bending over backwards to get the meeting in place for the Ricoh in my opinion because as it stands CCC/ACL have nothing to do with the club. So if they feel they need an independent valuation that is fine, but I dont see why CCC need one.
torchomatic
Well-Known Member
Well, they've done what many on here were clamouring for, they've made the first move. They've asked for a meeting. Let's see how the Council respond. If the Council say "no deal with SISU" then come out and be honest and say it. And I also agree in the statement that Lucas should clarify why she rejected the CVA.
lewys33
Well-Known Member
Have they really made the first move? What is the point is the public "we are happy to talk" bullshit that they are both spouting. Like I said why would the council meet when the JR is still going on. If they had made a statement saying "We have dropped the JR and JS will be talking to Ann shortly about a meeting" then bravo! Ball moves more in to CCC court. But as it stands I still think SISU should be doing the chasing.
Why should CCC make the first move?? Coventry City FC no longer have anything to do with them am I wrong?
I view the fact that JS will now be writing as great, but she could have done that without this tit for tat statement. We have to move forward and end this endless speculation. A meeting away from the crowd to lay down once and for all, where they can agree and where not is what is needed. What could they do to come together? Statement to opposing statement brings nothing. See the history. A joint statement agreed by both parties is what is needed. When they cannot agree to work together then so be it. The end. Then build the pie in the sky stadium. The council would have to judge any planning application on it's merits - by law. ACL would have to broaden it's business......and we really move on...
RoboCCFC90
Well-Known Member
You could flip that the other way round and say why not have a valuation on a business they haven't ruled out on selling?
torchomatic
Well-Known Member
The problem is when it gets that petty then there is a real danger that nothing will happen as no one wants to blink first. Obviously you're all for ACL/CCC fair enough, I get that. Personally, I don't care who blinks first as long as a deal can be negotiated. In ten, twenty, fifty years time, will it matter as long as a deal was made and Coventry City are back playing where they belong? Not for me.
lewys33
Well-Known Member
Im not "all for" ACL/CCC at all. It just annoys me that people are still including them in all of this when we are past that. They have nothing to do with us anymore. If SISU want the Ricoh they need to make the approach.
RoboCCFC90
Well-Known Member
Hence why the Trust need to step in now, the Trust can say to Fisher and Ann Lucas, we can mediate a meeting between the club and the council to discuss the purchase of the freehold, at x date and x time. Get the parties talking and then drop the idea of independent valuation idea in, so that both parties can think of this as fair discussions.
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