fernandopartridge
Well-Known Member
Who made the final decision to grant Wasps a 250 year lease? Who decided to perform an about turn and sell their own stake in ACL?
I'll give you a clue. It isn't CCFC, it isn't ACL and it isn't Wasps.
December Stadium Deadline (14 Viewers)
- Thread starter ccfc92
- Start date
Who made the final decision to grant Wasps a 250 year lease? Who decided to perform an about turn and sell their own stake in ACL?
I'll give you a clue. It isn't CCFC, it isn't ACL and it isn't Wasps.
stupot07
Well-Known Member
That's so embarrassing when you look back at that article, they were almost certainly in negotiations with wasps at the time
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
No, it's definitely not the fault of Wasps or ACL.
skybluetony176
Well-Known Member
Really? Based on what?
I don't and I'll tell you why. The simple fact that someone else valued ACL at the amount they did tells you that ACL wasn't yet distressed enough for SISU to be seriously interested at the amount it went for. In SISU's DNA they would have overpaid for it. Hence they bought CCFC when every other interested party was walking away and just before we went into admin meaning other parties would all of a sudden be interested. To put it simply the risk was too low meaning that the price was to high. Paying good money for things is not what they do.
oldskyblue58
CCFC Finance Director
To be fair unless we have owners prepared to trade at multi million pound losses or to put in millions of new funds the deal at the Ricoh or the new stadium is not going to make the difference to CCFC competing in the Championship. The gap in funding is simply to big
CCFC had agreed a 2+2, this hasn't changed. So if Wasps hadn't taken over CCFC would still be in the same position they are today.
When it comes to CCFC's predicament, the buck stops with the owners. No amount of finger pointing and foot stamping will alter this.
stupot07
Well-Known Member
No you're not wearing sky blue tinted glasses, you appear to be wearing black and yellow striped tinted glasses. It's remarkable the effort you are going to defend wasps
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
Hobo
Well-Known Member
If you think SISU would have bought the Ricoh if Wasps hadn't come along you are deluded.
I think we have pretty much analyzed every aspect of a rental deal at the Ricoh. But we haven't seen a businessplan for a new stadium, so we can't really say if that will or won't stand us better.
oldskyblue58
CCFC Finance Director
all this has been gone over a million times already, it hasn't changed anything and never will. We have to accept the realities and deal with them So what is the way forward from the point CCFC are at now.............. ?
fernandopartridge
Well-Known Member
They'd be in a significantly stronger negotiating position. But ACL in its previous state would have wanted more certainty than 4 years surely?
Again another inaccurate assumption. Where have I defended the Wasps?
stupot07
Well-Known Member
But they wouldn't, as we would hopefully be 'building bridges' towards owning acl, in fact the prospect of owning acl would have still been a possibility, so a lots changed.
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
Yes, you're right. And the owners are paying for their mistakes.
Where does that leave us? Don't we have the right to point to poor political decisions that effects us?
It takes two to fight - sisu didn't do it all by themselves.
Win on Saturday?
oldskyblue58
CCFC Finance Director
no we haven't but it is possible to list many of the additional incomes such a set up might bring and the additional costs. It isn't actually a long list . You only have to look at other clubs financials to get a reasonable feel for it. Without the aid of parachute payments, loans and losses, major player sales we are going to struggle to compete. Can anyone see that extra support coming from the present owners? certainly wont have 15m in parachute payments
As for other developments on the potential site wont those be in a separate company and not be football related so probably wont benefit CCFC.
They may have done, but the fact remains the sale to Wasps has not altered what CCFC signed up to.
Or continuing to say they're building their own stadium!
stupot07
Well-Known Member
And yet staying on a rental deal at the Ricoh with little access to non ticket matchday revenue isn't going to lead to success either. We're between a rock and a hard place.
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
Yes, it won't be easy. The parachute money is hard to compete with, especially as so many teams are on that 'welfare scheme'.
It would be a miracle if sisu gambled like Leicester did.
That would depend if the club owned prop-co ('ACL') would be administrating the 'side-kicks'.
We need to see the plans (if they ever materialize) before we can tell.
SkyBlue_Bear83
Well-Known Member
It has however altered any future deals, negotiations or any potential to get a stake in the Ricoh. That doesn't bother you though as you don't give a shit.
stupot07
Well-Known Member
At least there would be options.
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
Calista
Well-Known Member
City’s chief executive, Tim Fisher, insists they do not regret failing to buy the Ricoh, saying they could not agree to taking it on, as Wasps have done, not only for £5.4m but with the council’s £14m loan on the stadium still to pay.
http://www.theguardian.com/football/2014/dec/23/coventry-city-wasps-ricoh-arena
Poor political decision? I don't recall a huge outcry from the electorate.
Also, how was it a fight?
I am sure I would have publically have said the same.
Should he have admitted they had been screwed? What kind of signal would that send to their investors?
skybluetony176
Well-Known Member
Why do you think that they would have taken the deal if it had been offered?
I don't follow your train of thought = I don't give a shit? Blimey, good logic there!
He could have said nothing.
The fact remains that on record Fisher has said SISU/CCFC wouldn't have agreed on the deal that Wasps were offered.
skybluetony176
Well-Known Member
Everytime he opens his mouth I wish he'd say nothing.
Even when you discount what Fisher said I still can't see on what basis anyone can really say that SISU would have taken the offer had it been made. What have they ever said and done that can make anyone form that opinion. Not just where CCFC are concerned but in any of their investments that we've found out about. It's just not the type of deal they've built their reputation on from what I've seen. To sound like SP it's not in their DNA. Not from what I've seen anyway. If anyone can convince me otherwise I'm all ears.
Last edited:
That's a very fair point Tony
SkyBlue_Bear83
Well-Known Member
Does that mean it is true then, you don't believe him (with fair reasons) when he says we are building a new stadium yet this statement is truth?
Grendel
Well-Known Member
The council didn't need to say ACL was making money, then breaking even and that they would "build bridges" but they did.
The fact remains on record that good old CCC said they'd consider selling to the club - when they'd already sold it.
stupot07
Well-Known Member
So we believe everything Fisher says? Or just the bits that for our narrative?
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
Grendel
Well-Known Member
Why are we even bothering with this idiot? He's obviously a plant.