chiefdave
Well-Known Member
We know you prefer Wasps and CCC to benefit rather than CCFC but for most of us the football club is the priority.
Coventry Evening Telegraph. (1 Viewer)
- Thread starter skybluebeduff
- Start date
We know you prefer Wasps and CCC to benefit rather than CCFC but for most of us the football club is the priority.
skybluetony176
Well-Known Member
You assume wrong. We all know and I'm not going to play silly buggers with someone pretending otherwise.
italiahorse
Well-Known Member
Well our football club need to get off their arses and start to make a contribution.
I suspect that they are restricted by Sisu and if that's the case Sisu need to be challenged on it.
The specially invited guests at the various CCFC forums and the Anti Wasps/CCC/Higgs position of this forum rather than the Sisu challenging, lets them off the hook.
Nick
Administrator
Making a contribution?
Maybe they could sponsor the next council pissup or something.
He is not reading the real question or ( as usual ) avoiding to answer - I only asked for his version of events to back up his statement
We can then compare to the outcomes of the JR's and see how right he was! ( Assuming we get an outcome in our lifetimes)
italiahorse
Well-Known Member
Sisu couldn't sponsor a piss up in a brewery !!
Nick
Administrator
Good job nobody trusts your judgement then.
italiahorse
Well-Known Member
So are you saying Sisu/CCFC are doing a good job in the community ?
Nick
Administrator
I said it is a good job nobody trusts your judgement.
Although I think the players going into the hospital last week and the Premier League Reading stars scheme stuff is good.
skybluetony176
Well-Known Member
1) We don't know the outcome of the JR for starters as it's still ongoing. Unless you have some insider knowledge?
2) A JR isn't the reason that they had to sell unless halting a JR would have made up part of any agreement. I don't think wasps are looking or taking CCC to court for a JR on anything so that can't be it either
Maybe you aren't pretending and you really don't know what's going on
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fernandopartridge
Well-Known Member
Answer the question. You suggested that they had to sell. Why did they have to sell?
italiahorse
Well-Known Member
They wanted rid of it so they sold it to the only bidder. Easy ?
Grendel
Well-Known Member
No he said they HAD to sell and dumb as he is I'm sure he can answer for himself
Nick
Administrator
They didn't put it on the open market to get bids like would usually happen.
The council leader was told by ACL staff that it was washing it's face, why would she think it needed to be sold if she thought it was doing ok?
skybluetony176
Well-Known Member
It must be a team sport playing lets pretend.
How many options does a distressed business have? It really isn't that difficult.
Why were we sold to SISU? It's all the same reason.
Nick
Administrator
More options if it is put onto the open market, when we were sold to SISU there were a few more options weren't there?
Grendel
Well-Known Member
indeed there were. A distressed business with taxpayer responsibility wouldn't look at the first offer through the door would it? Very odd.
skybluetony176
Well-Known Member
Are we still playing lets pretend on this one as well. Offers were invited publicly as well you know. Wasps made one SISU didn't. Are you suggesting SISU didn't know that offers had been publicly invited? Perhaps JS thought AL had just dropped in while passing by for a cup of tea and talk about the weather. Why do you contimue to act stupid with this.
italiahorse
Well-Known Member
It had been open to any reasonable offer for sometime.
Even after Wasps bought it Sisu said that it was too expensive.
Poor decision for CCFC fans but right decision for the council ...... move on.
skybluetony176
Well-Known Member
italiahorse
Well-Known Member
They might if it was time limited and from their experience the only other team that would be interested had tried to get it underhandedly prior to that.
Nick
Administrator
Any links to the prospectus for it from where it was on sale? Which agents were doing it?
Didn't Ann Lucas also say it was washing it's face publicly?
skybluetony176
Well-Known Member
Is there a law or something saying that they are the only ways a business can be sold? It was publicly announced, it was on TV, on the radio and in the papers.
According to some on here there was only one show in town. Why do these same people now insist that there should have been a prospectus or agents involved? Surely in their original opinion non were needed? Is it not just another example of the hypocrisy you constantly bang on about?
Some would have you believe that wasps first shown an interest in the Ricoh 2 years ago. I guess what they're actually saying is well done CCC for giving SISU 2 years to get a bid in. Or is it not just another example of the hypocrisy you constantly bang on about?
Some say they shouldn't have took the first offer. Funny when I say that about the Wilson sale a lot of the same posters jumped on me saying it was the only offer what do you expect the club to do. Or is it not just another example of the hypocrisy you constantly bang on about?
What was the alternative to taking the only offer on the table? Admin? run the risk of getting not only less than they got but also a compromise on the loan repayment? Everybody got something back and the loan was repaid in full back to the Tax payer. I doubt that would have happened in admin.
Nick
Administrator
The business was washing it's face, why the rush to sell?
I thought if tax payers money was at stake then the best deal should be found possible, which you would think is a proper sale? That is what makes it different to a normal every day business in which I would agree with you if somebody sold their plumbing business or something.
italiahorse
Well-Known Member
skybluetony176
Well-Known Member
See. Playing let's pretend is a team sport and the opposition were using moves like "The business was washing it's face". Same as SISU say things like our investors will cover the losses of Sixfields before selling Wilson to cover the losses of Sixfields, or we will never return back to the Ricoh as tennants before returning back to the Ricoh as tennants. It must be a new fad or something.
The Tax payers money was paid back in full and the commitment to do that was part of the deal, infact they went beyond that and paid it back early. How could there have been a better deal for the Tax payer than that? ACL wasn't solely owned by CCC it was also owned by Higgs. If CCC were selling the freehold you would have a point as there is goverment guidlines for doing that and obtaining the highest price but they wasn't. It was publicly announced, there should have been two interested parties. When some posters say there was only one show in town they were right, turns out it was Wasps more the pity for CCFC.
Nick
Administrator
I didn't realise the council leader making public statements to her tax payers and lying was the same as a business owner lying about it's own business?
Yes the loan was paid back, but who is to say they could not have got more than the 2 odd million for their share with a proper sales process? The Higgs may also have got more back.
It wasn't publicly announced as for sale.
skybluetony176
Well-Known Member
http://www.bbc.co.uk/news/uk-england-coventry-warwickshire-25728542
Were you in a coma that day?
Your only offer is unfortuantly always your best offer. Did SISU know that the council were willing to listen to offers?
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Nick
Administrator
Ah yes, because SISU are bound to buy a football stadium freehold with a lease in place on it to ACL already? That was always a non goer wasn't it?
Where was what Wasps bought put up for sale? 100% of ACL with the long leasehold.
skybluetony176
Well-Known Member
Well then they needed to be buying ACL then didn't they? Are you really suggesting that SISU couldn't work that out for themselves?
Nick
Administrator
You said it was put on the market, I am just asking where?
italiahorse
Well-Known Member
Question. If Sisu bought ACL (£13M) , extended the lease to 125 years and took on the debt (£14M) would you say that was better than building a new stadium ?
I simply ask, because they could have done, no problem !
SkyBlueZack
Well-Known Member
27 million?
Are you for real?
It was sold for 5.5 million and 1 million for lease extension. Yet you and others consistently ignore that ACL was never offered to CCFC or the public market at that price. The stadium was built for the club yet they were being quoted over 4 times as much as a club from London. The only rationale and reasoning you and other have is because it's SISU and what they do. Yeah you're right SISU are shit owners, some of the worst. But the club, it's community and fans are bigger than SISU, they matter more. How can you charge your local team 4 times as much?
Are you for real?
It was sold for 5.5 million and 1 million for lease extension. Yet you and others consistently ignore that ACL was never offered to CCFC or the public market at that price. The stadium was built for the club yet they were being quoted over 4 times as much as a club from London. The only rationale and reasoning you and other have is because it's SISU and what they do. Yeah you're right SISU are shit owners, some of the worst. But the club, it's community and fans are bigger than SISU, they matter more. How can you charge your local team 4 times as much?
skybluetony176
Well-Known Member
SISU were invited previously to talk about the sale of The Ricoh http://www.coventrytelegraph.net/news/coventry-news/time-running-out-sisu-want-6257043 this dates back to October 2013. Here's a snippet
“My statement to full council on Tuesday October 22 confirms that all options are available for discussion.
“I am prepared to discuss, subject to contract, and without prejudice to the on-going court case, the issue of stadium ownership with Joy Seppala just as I have been prepared to discuss stadium ownership with other interested third parties in the past.
“If this matter cannot be resolved by the turn of the year, then I and all of my colleagues on the Labour group on Coventry City Council will look to put in place a process which ensures the best possible deal for the people of Coventry in relation to the Ricoh Arena.”
‘‘So for one last time, I say, quite clearly, that I am prepared to meet with Joy Seppala and to have a discussion with her without prejudice and subject to contract in relation to all and any issues in relation to the Ricoh Arena, the land around it, and Coventry City Football Club.”
Are you seriously suggestig that the reason SISU never made an offer was because there wasn't a prospectus or agents involved. They clearly have had more opportunity than anyone to get a bid in. Did they make an offer? Was it better than the wasps offer? If the answer to both is no then they got the best offer didn't they?
italiahorse
Well-Known Member
That's not answering the question.
Is £27M good value for effectively owning the stadium complex ?