Ian1779
Well-Known Member
I'm sure the council will have invested their money in some 'ethical' business (like weapon selling/manufacture) to ensure we won't have to personally go any pay Joy any of our hard earned monies.
I think compensation means that ?
The rest is stating the obvious.
give it a rest italia. you were wrong, just move on now
The CCC are already out by around £10m on their Initial cash Investment and potentially a further £14-4m had they struck a deal with SISU
On a personal (councillors) and citywide level I think that would have been unpalatable to swallow
I think Italia Is right when he says this Is timed to feed into the final round of the JR
which should have been heard in October but is now set for February
God I hope this doesn't seep into of the club as we push on and hopefully maintain our push up the league.
If for a long shot they did win, you can guarantee that is how it would be spun. You already have people on here saying how much each man, woman and child in the city would have to give sisu.
A council should have insurance in place for this sort of thing so the only actual financial hit would be an increase in insurance premiums.
I always said that sisu would lose.
Why do you keep lying?
Just a thought after what FP said. The loan was originally 21m but was paid down during the years the stadium was open. Any profit made was used to pay the loan off quicker. Now bearing in mind ACL only ever made profit because of the football club. We technically paid the loan down quicker and kept the place open. Now in conjunction with everything else that has occured, do people not realise just how shafted we've been?
Just a thought after what FP said. The loan was originally 21m but was paid down during the years the stadium was open. Any profit made was used to pay the loan off quicker. Now bearing in mind ACL only ever made profit because of the football club. We technically paid the loan down quicker and kept the place open. Now in conjunction with everything else that has occured, do people not realise just how shafted we've been?
It's similar to the idea that if we had stayed at Ricoh for full 50 years on original deal we would have paid £65m - owned 0%
and not earnt a penny in other revenue streams.
You're double counting wingy. The council wouldn't have needed to lend another £14.4m had the SISU plan to distress the YB loan gone to plan. It was ACL who had loaned £21m in lieu of paying rent to the council. They lent £21m and paid the lump to the council as a lease premium who repaid their own prudential borrowing.
The initial £10m investment hasn't been recovered by the Wasps deal.
We couldn't keep our share due to the financial risks in previous years which you were advocating earlier? Weren't SISU's bid only approved by the council as they didn't want to pursue the stadium?
We should have kept our share in ACL then as was originally intended instead of selling it too Higgs.
The more I look at this the more I think Sisu needed to have negotiated better when they took over.
The Higgs share should have been in the pot as well as the stadium rent and lease.
They just took on the previous owners mess.
I agree we should have retained our share in ACL, it wasn't SISU who sold it remember.
It was the board at the time because of some unspecified debts. My suspicion has always been that the club's debts were to certain members of the club's board at the time who wanted to retain an interest in those debts either way.
Apparently other people were put off because they were interested in the Ricoh, whereas SISU weren't then. I can't remember the source so don't quote me on it.
If it can be proven CCC are heavily biased against SISU, then the case for underhand dealing with Wasps and secret meetings involving only a few select councilors thereby not allowing SISU the full information could be seen as a deliberate move to stop SISU from being able to make an offer for the arena.can somebody sensibly briefly describe the purpose of this hearing, what are possible outcomes, what relevance it has to any other ongoing legal disputes and whether it has any impact on existing Ricoh/ACL ownership/tenancy?
It's all well and good saying they should have purchased on day one but that might not have been possible. As bad as things have been if SISU had insisted on that and CCC had refused what would have happened had SISU, the last remaining interested party, walked away?
Even more reason that we should have bought the Higgs share at the first opportunity..
That way we have a say on what rent we pay and access to incomes and 'profits'
Interesting to know what Sisu would do if they could rewind.
If it can be proven CCC are heavily biased against SISU, then the case for underhand dealing with Wasps and secret meetings involving only a few select councilors thereby not allowing SISU the full information could be seen as a deliberate move to stop SISU from being able to make an offer for the arena.
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How about 1 paragraph about our time under SISU?
They had full rights from day 1 to purchase our 50% back. But it was operation Prem that they saw as important. Get to the Prem and they would have made a massive amount of money. And by the time they saw that in the long term they needed the Ricoh they had wasted so much on operation Prem that they tried to go back on a deal that was made to get 50% the Ricoh. Things went from bad to worse. They took us to Northampton to put pressure on the other sides. This caused all communications to stop. They all take the piss out of each other. SISU don't want the Ricoh as they are building their own stadium. CCC sell to Wasps. The lot of them are a bunch of cunts.
They had full rights from day 1 topurchase our 50% back.
But it was operation Prem that they saw as important. Getto the Prem and they would have made a massive amount of money.
And by the time they saw that in the long term they needed the Ricoh they had wasted so much on operation Prem that they tried togo back on a deal that was made to get 50% the Ricoh.
Things went from bad to worse. They took us to Northampton to put pressure on the other sides. This caused all communications to stop. They all take the piss out of each other. SISU don't want the Ricoh as they are building their own stadium. CCC sell to Wasps. The lot of them are abunch of cunts.
You also have to consider that at around or just after the time SISU arrived, ACL were quoting £24m just for the additional revenue streams at the stadium
Personally I suspect that things went sour before that and the threat and subsequent move was an attempt to force CCC and Higgs to make a deal acceptable to SISU. I'd love to know what happened at the meetings. If Fisher was going in stating I know ACL is reliant on CCFC, I know the bank is getting twitchy about the loan etc and ACL, Higgs and CCC turned round and said he'd got it all wrong, as they did publically, how do you negotiate from there?
Indeedy. What caused it to go from the Heads of Terms being agreed to a media war/moving to Sixfields?
I seem to recall one of the JR judges saying that both parties didn't have an appetite to complete the deal. It seemed to really unravel from that time.
Operation premiership was the brainchild of the owners prior to sisu.
About the time Richardson was allegedly having meetings with CRFC about purchasing the Ricoh?
However, the blunt talking 48 year old northerner would rather not talk in detail about the mistakes made by the club’s managements of the past and you will definitely not find any signs promoting Operation Premiership around the club
And after when SISU went behind the backs of everyone and tried to take the mortgage over.
That's not what the documents released suggests. Have you read them? I thought sisu had no money - yet could take the loan over?
The bold decision created immediate cost savings and efficiency improvements but marked the first step in his strategy to eventually take up the option of a 50 per cent stake in the Arena. Although the objective of Ricoh Arena ownership is still on Ranson’s personal radar, together with a Premiership placing within two to three years, his determined but understated style is to quietly progress discussions behind the scenes with the stakeholders in the Arena who are very much aware that 50 per cent ownership and eventually total acquisition of the stadium in the longer term is very much on the Chairman’s wish list.
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