Fisher : CCFC would not own Ricoh Areana if Otium bought the freehold (1 Viewer)

[Sub]

More From Trust Meeting
At the Sky Blue Trust open meeting tonight at The Squirrel in Coventry, it was revealed that Coventry City FC would not own the Ricoh Arena if the owners were able to buy the freehold and Arena Coventry Limited.
In a report on a meeting with Tim Fisher, The Trust said tonight that the club's CEO and a director of Otium Entertainment Group has said: "It is not the club's fault we are at Sixfields." and added they they were under-writing the losses and touched on the new stadium but not in detail.
When asked if all the court action against Coventry City Council etc was out of spite, Mr Fisher was quoted as saying the action is needed and that "We don't trust the council and our valuation of the Ricoh is a low one."
As to the question of if the club would own the Ricoh Arena if the freehold and Arena Coventry Limited were bought by Otium, Mr Fisher replied: "No."

so we would be no better off

 

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[Sub]

more from the meeting

More From Trust Meeting
At the Sky Blue Trust open meeting tonight at The Squirrel in Coventry, it was revealed that Football League had no choice but to accept Coventry City groundsharing Sixfields Stadium.
Roger Ellis told those present that The Trust were told by the Football League in meetings with them that:

* Football League advised Administrator Paul Appleton to consider all offers. They feel he didn't.

* Football League were unhappy with the administration process and feel it was very rushed.

* Football League received the groundshare application one day before the deadline and thus had no choice but to accept it.

* FL will only allow an extension to the groundshare if significant progress had been made with a new stadium and said they would check on progress at the end of the season.


so the fans are not the only ones that thought the adminstration process was a complete joke and one sided

 

[Sub]

Trust Meeting
At the Sky Blue Trust open meeting tonight at The Squirrel in Coventry, it was revealed that Arena Coventry Limited had still not received the £590K they are owed by the Otium Entertainment Group as part of the monies owed following Otium taking over Coventry City Football Club Ltd.

The Trust were told by ACL in meetings with them and Coventry City Council: "We can not sell the stadium, can only discuss rent. The administration process was flawed so the CVA rejected. "We are due to received £590k from Otium but nothing has been received yet."

Arena Coventry Limited also admitted to the Trust: "We have to concentrate on the business. Casino is one of G's best sites. We don't need CCFC but want them. Arena Coventry Limited were due for an audit but it was cancelled due to the Ricoh Arena doing so well. "

 

[Gaz]

It's a very valid question tbf.

I wonder if there is a way that the club and ground ( if reunited ) can be kept together contractually.

 

[Grendel]

Was an acl spokesman there?

 

[Danceswithhorses]

More From Trust Meeting

As to the question of if the club would own the Ricoh Arena if the freehold and Arena Coventry Limited were bought by Otium, Mr Fisher replied: "No."

Not entirely surprising, but now we have it straight from the horse's mouth (no slur on horses intended)

 

[theferret]

More From Trust Meeting
At the Sky Blue Trust open meeting tonight at The Squirrel in Coventry, it was revealed that Coventry City FC would not own the Ricoh Arena if the owners were able to buy the freehold and Arena Coventry Limited.
In a report on a meeting with Tim Fisher, The Trust said tonight that the club's CEO and a director of Otium Entertainment Group has said: "It is not the club's fault we are at Sixfields." and added they they were under-writing the losses and touched on the new stadium but not in detail.
When asked if all the court action against Coventry City Council etc was out of spite, Mr Fisher was quoted as saying the action is needed and that "We don't trust the council and our valuation of the Ricoh is a low one."
As to the question of if the club would own the Ricoh Arena if the freehold and Arena Coventry Limited were bought by Otium, Mr Fisher replied: "No."

so we would be no better off

Says who? Of course the club and arena management company would be kept separate (probably under a holding company) - that would be the case under any owner. That doesn't mean to say that the club would be charged rent and/or that revenues would not be channeled to the club from stadium activity. You're just guessing, and to say we'd be "no better off" is a massive leap to make given that you have no facts with which to back it up.

 

[dongonzalos]

So what would have happened if they did not accept the ground share?

 

[Sub]

my opinion didnt say it was fact the fact is if the club and stadium are tied together CCFC would be better off, keeping them seperate is what has helped cause the total cluster fuck we are in at the moment

 

[kingharvest]

At the SCG he said there would be a prop-co and an op-co which is normal but that all revenues would go to ccfc.

 

[Ashdown1]

How could anyone possibly trust these cretins not to absolutely fleece every penny out of the Coventry public for as long as people stood it. The Ricoh to SISU would be disaster, the Ricoh to another investor would of course hold the similar risks but hedge funds are hedge funds............scum !!

 

[theferret]

my opinion didnt say it was fact the fact is if the club and stadium are tied together CCFC would be better off, keeping them seperate is what has helped cause the total cluster fuck we are in at the moment

But they'd be owned by the same company - the comparison you are making doesn't stack up. See the post from KH above, TF has already addressed this point. Whether you choose to believe him is up to you, but the arrangement proposed is perfectly normal.

 

[Sub]

But they'd be owned by the same company - the comparison you are making doesn't stack up. See the post from KH above, TF has already addressed this point. Whether you choose to believe him is up to you, but the arrangement proposed is perfectly normal.

ccfc is not owned by one company its owned by god knows how many

 

[Grendel]

ccfc is not owned by one company its owned by god knows how many

Given its loss making ability over the last 30 years only a complete idiot would want CCFC Ltd to own the stadium. Good to see even SISU wouldn't be that stupid.

 

[Sub]

Given its loss making ability over the last 30 years only a complete idiot would want CCFC Ltd to own the stadium. Good to see even SISU wouldn't be that stupid.

dont think i said they should own it i said they should be tied together so CCFC will always have a home

 

[Grendel]

dont think i said they should own it i said they should be tied together so CCFC will always have a home

OK how legally would you do that then?

 

[dongonzalos]

Given its loss making ability over the last 30 years only a complete idiot would want CCFC Ltd to own the stadium. Good to see even SISU wouldn't be that stupid.

Which stadium are you referring to

The 32k state of the art one that Mr Fisher does not think is worth much

Or

The Lego land Warwickshire one that will cost 20-30 million?

 

[Cheshire Sky Blue]

Says who? Of course the club and arena management company would be kept separate (probably under a holding company) - that would be the case under any owner. That doesn't mean to say that the club would be charged rent and/or that revenues would not be channeled to the club from stadium activity. You're just guessing, and to say we'd be "no better off" is a massive leap to make given that you have no facts with which to back it up.

Total Dreamer!!!!!!!!!

 

[theferret]

Total Dreamer!!!!!!!!!

Perhaps, but it beats cynical, wonky-eyed conspiracy theorist.

 

[Grendel]

Which stadium are you referring to

The 32k state of the art one that Mr Fisher does not think is worth much

Or

The Lego land Warwickshire one that will cost 20-30 k?

Any -- Would you think the company known as CCFC would own the Ricoh under any owner? Really?

 

[Sub]

OK how legally would you do that then?

might be worth asking a high flying legal type that one

 

[TheParsonsHose]

Says who? Of course the club and arena management company would be kept separate (probably under a holding company) - that would be the case under any owner. That doesn't mean to say that the club would be charged rent and/or that revenues would not be channeled to the club from stadium activity. You're just guessing, and to say we'd be "no better off" is a massive leap to make given that you have no facts with which to back it up.

A better question from the trust would have been..... If otium buy the ricoh then what safeguards would the football club have...ie: would the two be linked in a way that meant the ricoh could not be sold or visa versa.

Having the ricoh as another concern or seperating the asset is not unheard of.

 

[theferret]

A better question from the trust would have been..... If otium buy the ricoh then what safeguards would the football club have...ie: would the two be linked in a way that meant the ricoh could not be sold.

Having the ricoh as another concern or seperating the asset is not unheard of.

Not unheard of no, but given that nobody of sane mind would ever buy a Ricoh based CCFC as a standalone entity, it's kind of a mute point.

Any profit from a subsequent sale of the Ricoh (minus the club) would not come close to recouping the losses they have incurred bankrolling the football club - not within a million miles, therefore there would be absolutely no logic in seeking to damage the football club further and not at least attempt to turn around its fortunes.

People can shout at SISU all they like for taking us to Northampton, fill your boots, but everything I have heard regarding a possible takeover of the Ricoh and how the club fits into that makes sense, and all the half-baked conspiracy theories don't really stack up.

 

[Cheshire Sky Blue]

Perhaps, but it beats cynical, wonky-eyed conspiracy theorist.

No. It just proves that you are totally disconnected from reality.

 

[SIR ERNIE]

yet more waffle and hot air.

get real ffs. sisu can't afford their fantasy rotherham mini-stadium let alone the ricoh.

no deal.

 

[theferret]

No. It just proves that you are totally disconnected from reality.

What, for suggesting that keeping the football club and stadium businesses separate under a holding company would be perfectly normal? Really? Are you always this hysterical?

 

[valiant15]

Well let's hope and pray that the council doesn't sell them the freehold.

Fisher can then piss of and build his 12k ground for his Warwickshire franchise.

Oops,i forgot that is more sisu bullshit.

 

[Colin1883]

If a 3rd party owns the Ricoh and all monies go to the club... Howmuch would the 3rd party claw back as rent?

 

[theferret]

Well let's hope and pray that the council doesn't sell them the freehold.

Fisher can then piss of and build his 12k ground for his Warwickshire franchise.

Oops,i forgot that is more sisu bullshit.

You seen desperate for the team not to come home.

On the plus side (for you), you'll get your wish. The council will not sell the freehold, because they have the sleepwalking majority on their side. So they will reject the deal, and CCFC will stay in Northampton until it either builds a new ground or is wound up. Brilliant.

 

[Cheshire Sky Blue]

What, for suggesting that keeping the football club and stadium businesses separate under a holding company would be perfectly normal? Really? Are you always this hysterical?

Not hysterical at all. What I was responding too was your assertion that any one who may have a different theory was........... "Perhaps, but it beats cynical, wonky-eyed conspiracy theorist." I have always stated that CCFC will never own the RICOH. No big surprise there, it is just do you want the other party to be SISU?

 

[fernandopartridge]

What, for suggesting that keeping the football club and stadium businesses separate under a holding company would be perfectly normal? Really? Are you always this hysterical?

Not as if that wasn't the structure at HR

 

[theferret]

Not hysterical at all. What I was responding too was your assertion that any one who may have a different theory was........... "Perhaps, but it beats cynical, wonky-eyed conspiracy theorist." I have always stated that CCFC will never own the RICOH. No big surprise there, it is just do you want the other party to be SISU?

Except you had already responded to the original post with the response "total dreamer". An odd response given that all I had done was suggest the corporate structure referred to would be perfectly normal (which it would).

And yes, I would be a more than happy for SISU to own the Ricoh if it meant we returned home. They have already said they would bring in an external events management company to manage the facility, and I've no doubt they would look to sell the whole lot on at some point in the future; but any such deal would have to be profitable for them, and for any such deal to be feasible both the arena and the club would both have to be in a far better position than they are now. Unless you really subscribe to the view that their real intention is to knock it all down and build 60 3 bedroom semi-detached homes (somebody actually suggested that at one point).

 

[valiant15]

You seen desperate for the team not to come home.

On the plus side (for you), you'll get your wish. The council will not sell the freehold, because they have the sleepwalking majority on their side. So they will reject the deal, and CCFC will stay in Northampton until it either builds a new ground or is wound up. Brilliant.

Good. Id rather start again from scratch with new owners rather than carry on under the disgusting hedge fund.

Never given in to blackmail or bullies.

 

[theferret]

Good. Id rather start again from scratch with new owners rather than carry on under the disgusting hedge fund.

Never given in to blackmail or bullies.

Fine, but please then give up the pretence that what you advocate is for the good of the club. By your own admission, you would rather the club ceased to exist than return home under the stewardship of SISU. For what it's worth, I don't think you are alone, there are a significant number of people who put their hatred of SISU before the love of their football club.

 

[Cheshire Sky Blue]

Except you had already responded to the original post with the response "total dreamer". An odd response given that all I had done was suggest the corporate structure referred to would be perfectly normal (which it would).

And yes, I would be a more than happy for SISU to own the Ricoh if it meant we returned home. They have already said they would bring in an external events management company to manage the facility, and I've no doubt they would look to sell the whole lot on at some point in the future; but any such deal would have to be profitable for them, and for any such deal to be feasible both the arena and the club would both have to be in a far better position than they are now. Unless you really subscribe to the view that their real intention is to knock it all down and build 60 3 bedroom semi-detached homes (somebody actually suggested that at one point).

The issue that I referred to was when you stated "That doesn't mean to say that the club would be charged rent and/or that revenues would not be channeled to the club from stadium activity. You're just guessing, and to say we'd be "no better off" is a massive leap to make given that you have no facts with which to back it up.

With all the available data, you can only see that SISU would do what is good for them, not CCFC. That is the premise of Dreamer!