The Alan Edward Higgs Charity have explained why they chose to sell their 50 per cent share in Ricoh Arena operating firm ACL to Wasps rugby club rather than Coventry City’s owners Sisu.
ACL, following a period of restructuring both of its debt and its business, is now fully profitable but at the point where new investment is required to finance the next expansion onto Car Park C and on the adjacent leisure land.“The sale of their shares by the Trustees will enable this continuation of the regeneration of north east Coventry.
He said: "I’m not a property developer, I’ve never developed anything in my life.
"I’ve never thought of this as something I might make profit from.
This is the stuff journalists SHOULD be asking isn't it?
Corrected that for you Nick....
While we're on the subject of things journalists should be investigating, I'd love to read an interview with David Allvey (Ex head of ACL) to get some background on him "sounding out" W*sps about a potential move to the ricoh way back in 2010/11 just in case City left the stadium.....
seems to me that this always appear to be glossed over as either pure coincidence or not relevant because Derek Del boy Richardson had yet to arrive at W*sps.......
It'd be nice to hear it from him though wouldn't it???
Have you got a link to that or anything?
Surely once the Ricoh's future looks secure then businesses, other than the club(s), will look at the area as a potential development?
We know there are several developments that have planning permission but I guess not been pursued because of the uncertainty.
I'm sure several small businesses like pubs, clubs etc will have projects in mind once the Ricoh is busy and it's future looks secure.
Rowleys Green Club needs developing etc etc
Mark my words, once Wasps get established people will start to think about taking the risk.
Surely once the Ricoh's future looks secure then businesses, other than the club(s), will look at the area as a potential development?
We know there are several developments that have planning permission but I guess not been pursued because of the uncertainty.
I'm sure several small businesses like pubs, clubs etc will have projects in mind once the Ricoh is busy and it's future looks secure.
Rowleys Green Club needs developing etc etc
Mark my words, once Wasps get established people will start to think about taking the risk.
But what about the new stadium. Calling the whistling idiot or Obtuse to the thread.
I thought the Ricoh's future was secure? It was doing well? They would have done the same if the club owned it so why was it a must the club signed up to developing it?
I think you have totally missed the point.
I think this will be a very quite thread in which very few of our council loving colleagues participate.
More egg splattered on their faces.
How was it secure and doing well ? It was just ticking over.
You seem to pick up on anyone's comments and make it out as mainstream.
Seems Higgs for many years were saying that whoever was top buy their share of ACL would have to be willing to redevelop the rest of the area too(Though never realised why it should be the job of the football club to do that). and stated this as a reason for selling their share to Wasps.
ACL, following a period of restructuring both of its debt and its business, is now fully profitable but at the point where new investment is required to finance the next expansion onto Car Park C and on the adjacent leisure land.“The sale of their shares by the Trustees will enable this continuation of the regeneration of north east Coventry.
Why's that Grendel except for a few people on here nobody else cares.
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There isn't demand for a hotel, hotel operators can't rely on having a Rugby match every other week.
It was going from strength to strength wasn't it?
Really ?
I would say it was treading water.
There isn't demand for a hotel, hotel yoperators can't rely on having a Rugby match every other week.
But what about the new stadium. Calling the whistling idiot or Obtuse to the thread.
Why when. 90% of revenue was non football rated.
Where has Derek Richardson said that the surrounding area isn't going to be developed?
This is the entire conversation (with David Walsh) from the Times article:
I mention that some Wasps fans believe he bought their club solely to acquire an undervalued property asset. “I’m not a property developer, I’ve never developed anything in my life.
?
Its not just about Rugby or football though is it. Look at the road and curently being developed rail link. The whole area is prime for development as a gateway into Coventry.
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