Get City back to Coventry (1 Viewer)

[tim07]

i) City Council offer FREE 99 year leasehold to Otium
ii) terms include a binding covenant that CCFC (the football club!!) play at Ricoh at ZERO rent
iii) SISU/Otium purchase the Compass contractual rights to matchday revenues from catering concessions etc at commercial market value
iv) SISU/Otium are responsible to cover all matchday costs

- CCC protect a community asset
- Otium (nor anyone else!) cannot charge CCFC (the football club) for use of the ground
- the club/Otium have their access to matchday revenues
- from these revenues Otium/CCFC cover the costs of matchday expenses (staff/stewarding/policing,etc)

Will this work?

Your thoughts please ........

 

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[Kingokings204]

Hmmm maybe. Sisu are building their own stadium where no one knows and they haven't got the money for remember lol

 

[Otis]

I went to a car showroom yesterday and looked at a Porsche.


Came home and drew a picture of it and everything.

 

[chiefdave]

What would you do about the loan from ACL to the council and the 40 years left to run on the lease? The best option is for SISU to purchase ACL outright and then pay off the loan on the basis that they pay a peppercorn rent on a longer lease.

 

[Specs WT-R75]

What would you do about the loan from ACL to the council and the 40 years left to run on the lease? The best option is for SISU to purchase ACL outright and then pay off the loan on the basis that they pay a peppercorn rent on a longer lease.

Heres how I would resolve:

1) ACL split their lease into stadium & arena
2) CCC buy the stadium lease back from ACL - reducing the mortgage and making ACL viable with Arena only
3) CCFC buy a new stadium-only lease from CCC for at least (2) above

Then everything else the OP said. This way Sisu don't profit from the non stadium income (which they have already said they won't be building arena at new ground anyway so they must not need it now)....Compass could either be bought out at (1) above, or by the club at a later date.... anyway flame away!

 

[sky blue john]

Heres how I would resolve:

1) ACL split their lease into stadium & arena
2) CCC buy the stadium lease back from ACL - reducing the mortgage and making ACL viable with Arena only
3) CCFC buy a new stadium-only lease from CCC for at least (2) above

Then everything else the OP said. This way Sisu don't profit from the non stadium income (which they have already said they won't be building arena at new ground anyway so they must not need it now)....Compass could either be bought out at (1) above, or by the club at a later date.... anyway flame away!

Sounds sensible to me but i'm not Sisu. Lets be honest Sisu want the whole shooting match. You offer them a toe but they will take the leg aswell.
They will also want the stadium naming rights.

 

[chiefdave]

Heres how I would resolve:

1) ACL split their lease into stadium & arena
2) CCC buy the stadium lease back from ACL - reducing the mortgage and making ACL viable with Arena only
3) CCFC buy a new stadium-only lease from CCC for at least (2) above

Then everything else the OP said. This way Sisu don't profit from the non stadium income (which they have already said they won't be building arena at new ground anyway so they must not need it now)....Compass could either be bought out at (1) above, or by the club at a later date.... anyway flame away!

That's been suggested before but isn't really workable as there are many shared areas. The executive boxes are actually hotel rooms for example. The hotel lease would be with ACL and the stadium lease with SISU so we wouldn't have any boxes anymore as one example.

 

[Specs WT-R75]

That's been suggested before but isn't really workable as there are many shared areas. The executive boxes are actually hotel rooms for example. The hotel lease would be with ACL and the stadium lease with SISU so we wouldn't have any boxes anymore as one example.

In the grand scheme of things, you would hope that the renting of the hotel rooms on matchdays would be something that the two sides would be able to meet on if the business was split... Hotel rooms all booked at corporate rates on the days of the games. Seems like a win win.

 

[Moff]

I went to a car showroom yesterday and looked at a Porsche.


Came home and drew a picture of it and everything.

Lets see it then

 

[chiefdave]

In the grand scheme of things, you would hope that the renting of the hotel rooms on matchdays would be something that the two sides would be able to meet on if the business was split... Hotel rooms all booked at corporate rates on the days of the games. Seems like a win win.

That's just one example, what happens with car parking say if there's an event in the Jag the same time as the Ricoh. What happens if ACL require the use of the lobby areas blocking off access to the corporate area. Of course it's all possible but it requires 2 sides that can work together in a sensible manner and given the track record I'm not sure that is really possible.

 

[Specs WT-R75]

That's just one example, what happens with car parking say if there's an event in the Jag the same time as the Ricoh. What happens if ACL require the use of the lobby areas blocking off access to the corporate area. Of course it's all possible but it requires 2 sides that can work together in a sensible manner and given the track record I'm not sure that is really possible.

Quite right.... I really do think it is time for the two sides to sit down; New Year, clean slate and figure out what is feasible and what is not. It is illogical for ACL to have a stadium with any tenant other than CCFC - they will make peanuts from such an arrangement, so logically a deal is there to be done. The alternatives are terrible for ACL, for CCC, for CCFC and for the fans.

 

[quinn1971]

So it looks like there's no way we're going back to the ricoh whilst sisu are still here.so what now for us fans.we can keep boycotting but at some point are we going to have to accept there's nothing we can do about it and either go back to following our club, wherever that might be or refuse to go to a new ground that won't be in coventry. Personally if it was built in exhall then I would go . we're all going to have to make a tough decision at some point.

 

[Noggin]

i) City Council offer FREE 99 year leasehold to Otium
ii) terms include a binding covenant that CCFC (the football club!!) play at Ricoh at ZERO rent
iii) SISU/Otium purchase the Compass contractual rights to matchday revenues from catering concessions etc at commercial market value
iv) SISU/Otium are responsible to cover all matchday costs

- CCC protect a community asset
- Otium (nor anyone else!) cannot charge CCFC (the football club) for use of the ground
- the club/Otium have their access to matchday revenues
- from these revenues Otium/CCFC cover the costs of matchday expenses (staff/stewarding/policing,etc)

Will this work?

Your thoughts please ........

This would require Coventry City council to buy ACL out of their lease, ACL would have to agree to this, One way or another this would cost the council into the double digits of millions.

So no this won't work and isn't possible.

 

[tim07]

ChiefDave - I'm guessing you're referring to the £14m mortgage that was paid off by CCC? This should not affect rent/lease deal between CCC and Otium.
It would remain on the ACL account to be paid back over 40 years. ACL would remain a trading concern as. Conference/exhibition facility.

 

[chiefdave]

ChiefDave - I'm guessing you're referring to the £14m mortgage that was paid off by CCC? This should not affect rent/lease deal between CCC and Otium.
It would remain on the ACL account to be paid back over 40 years. ACL would remain a trading concern as. Conference/exhibition facility.

That only works if ACL are in some way involved. If SISU take over the lease (as I've understood the original post referred to) ACL would no longer exist and therefore not be able to pay the loan.