Higgs Charity,CCFC/Sisu, City Council. (1 Viewer)

[Sky Blues]

Dongonzalos, it looks like PWKH has given us as much assurance as he can and we will have to look to the council to ensure the stadium does not go down if Sisu does. That being the case, let's hope Cllr Mutton sticks to his words in today's CT: "there would have to be a legal agreement so they that they couldn’t use the Ricoh as collateral to get a loan".

 

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[dongonzalos]

It is for ACL to answer for itself. The Charity can't do the things you ask. On exiting something you cannot set the terms for the successor or those remaining, it is for them to take the thing forward as they see fit. I am however confident that the Council will not put at jeopardy the thing they have worked so hard to see succeed.

Thanks for the help and explanations I do appreciate it greatly.

Just hope ACL as the seller and a current custodian of coventry city do verbally come out in support of the council. Looks like it is in all our interests. So the club don't get liquidated or left to rot anyway, whilst sisu focus on the arena.

 

[mark82]

Thanks for the help and explanations I do appreciate it greatly.

Just hope ACL as the seller and a current custodian of coventry city do verbally come out in support of the council. Looks like it is in all our interests. So the club don't get liquidated or left to rot anyway, whilst sisu focus on the arena.

Higgs are the seller. ACL is the company in which shares are being sold.

 

[mark82]

Was there another meeting yesterday? Any further news?

 

[PWKH]

The Coventry Telegraph tells me that they are publishing a story today that is an update on what is happening with CCFC and the various talks that have been going on. This is what the Charity has said to them:

Talks between the Charity and CCFC/Sisu continue. An offer has been made. The Trustees and their advisers have discussed it. As it stands it is not acceptable in several respects. If a sale to CCFC/Sisu is to be possible further talks and movement by CCFC/Sisu will be needed. The Trustees and their advisers have to be mindful that they are responsible for public money and that any disposal must achieve a proper value. The Trustees hope that talks will continue so that the offer is improved.
CCFC/Sisu are carrying out due diligence on ACL to assure themselves as to the value of the company in which they wish to become shareholders. That process is continuing.
The Charity is not a part of, or aware of the progress of, talks between the City Council and CCFC/Sisu as to whether the City Council will be happy to enter into a partnership with CCFC/Sisu in the joint ownership of Arena Coventry Ltd.

Once again it may not answer your questions, it may raise new ones, but the Charity as just one party to everything that is going on can only speak for itself and then only release what is not confidential. To do anything else would be unprofessional and probably damaging.

 

[oldskyblue58]

Thanks for the update PWKH .... as usual the only clarity in this is coming from the Charity

 

[Sky Blues]

Yes, thanks PWKH. Your taking time to tell us what you can is much appreciated here.

 

[wingy]

We'll by my reckoning we've hit the 60 day due dilligence limit mentioned today, so should we be expectant of some flurry of activity or announcement in the coming week?:thinking about:

 

[wireman]

Keeping the fans in the loop at all times is importent as not knowing is getting all our backs up.I know there may be a light at the end of the tunnel but please dont let it be a train trying to derail all the plans.

 

[smouch1975]

The truth is out there!!! X

Right, just spent an hour typing a message summing up the past and future. And it deleted what I had written. I have the privilege of knowing what is going on internally and please do not blame SISU (it is one individual funding the club!). There is a long way to go but The Council should try and help; they own the freehold interest and so should be accountable. I've just spent an hour typing the whole truth and its been deleted so I won't carry on, but if you want the truth message me back. J

 

[sky blue john]

If its one individual funding the club and you know that.
who is the one individual ?

 

[oldskyblue58]

Right, just spent an hour typing a message summing up the past and future. And it deleted what I had written. I have the privilege of knowing what is going on internally From which side Club, ACL, Council, Charity, SISU or a n other?and please do not blame SISU Why? (it is one individual funding the club!How does that match league rules for disclosure ?). There is a long way to go but The Council should try and help what makes you think they have not been; they own the freehold interest and so should be accountable Why? they dont run the lease or sub lease, what makes you think they are not accountable already. I've just spent an hour typing the whole truth how can anyone know the "whole truth" ?and its been deleted so I won't carry on probably too long try splitting it, but if you want the truth message me backso you would rather answer what could be multiple messages rather than re do one post ?. J

Got something to say ...... say it or even just some of it. The truth that you put though will be the truth that you know..... someone elses truth may well be different

 

[PWKH]

Gosh. Missed this. Jonmoore24 please do post the "past and the future". I've only been involved since 2000 so it would be good to know what happened before, and if you can tell me what is in the future it would be really useful.

 

[sky blue john]

Article in the Cet today says Robins is happy at Cov. But the most interesting part of the article says that he has met some of the board this week and also had discussions with the owner about moving forward. Now this to me sounds like we are owned by one person.
Can you confirm this and do you know who owns us PWKH ?
Thanks in advance of any knowledge passed on.

 

[WillieStanley]

Article in the Cet today says Robins is happy at Cov. But the most interesting part of the article says that he has met some of the board this week and also had discussions with the owner about moving forward. Now this to me sounds like we are owned by one person.
Can you confirm this and do you know who owns us PWKH ?
Thanks in advance of any knowledge passed on.

If we were owned my one solitary owner, to fit in with FL rules, that owner would have to declare him or herself. It is a commonly known fact that no-one owns more than 10% of the club in order to retain annonymity. Robins more than likely means a represntative of the owners, ie Joy!!

 

[wingy]

Possibly the mysterious Labovitch who was interviewed prior to kick off on Tuesday night ,never heard him speak in his role before.

 

[ccfctommy]

I've met him before, he is on the board I believe.