How much would it cost to buy half the Stadium? (1 Viewer)
- Thread starter Steve.B50
- Start date
coundonskyblue
New Member
Around £10m for the higgs half.
coundonskyblue
New Member
<p>
The £10m is for half of acl which owns the ground.
The reason their half is so low is because of an agreement made between the club & the charity when city sold them their half.
The £10m is for half of acl which owns the ground.
The reason their half is so low is because of an agreement made between the club & the charity when city sold them their half.
ccfcjohn
New Member
steve i was just reading the post and thinking the same, if i won the euro jackpot tonight what would i do with it!!!
i'd offer to pay players wages directly to stay at the club and put a few million up to buy new players, £51 million wouldn't go very far if buying out SISU, buying half or all of the ground and running the club - plus i'm sure the Mrs would want at least a new handbag and a pair of shoes!!!
i'd offer Michael Owen a few quid a week cos he's got nothing else to do next year and i'm sure he'd do well in Lg1, and if you check out the link below its got all the players whose contracts have now expired and basically free agents, i'd offer a couple of them a 3 year deal to get us back in the Prem!!!
i'd offer to pay players wages directly to stay at the club and put a few million up to buy new players, £51 million wouldn't go very far if buying out SISU, buying half or all of the ground and running the club - plus i'm sure the Mrs would want at least a new handbag and a pair of shoes!!!
i'd offer Michael Owen a few quid a week cos he's got nothing else to do next year and i'm sure he'd do well in Lg1, and if you check out the link below its got all the players whose contracts have now expired and basically free agents, i'd offer a couple of them a 3 year deal to get us back in the Prem!!!
oldskyblue58
CCFC Finance Director
got to be careful as to what you are talking about buying
ACL own a lease on the stadium - the option is to buy 50% of the shares in ACL not the stadium
This assumes the option is still valid because a lot of agreements will state it only exists whilst the tenant is up to date with its payments ...............
The council owns the freehold which could be sold and ACL remaining as tenant.
Owning 50% of the shares in ACL gives no right to any additional income or a 50% of the turnover.
to get income - which would be as a dividend - ACL has to have paid off the loan it owes as it stands £14m or so
ACL own a lease on the stadium - the option is to buy 50% of the shares in ACL not the stadium
This assumes the option is still valid because a lot of agreements will state it only exists whilst the tenant is up to date with its payments ...............
The council owns the freehold which could be sold and ACL remaining as tenant.
Owning 50% of the shares in ACL gives no right to any additional income or a 50% of the turnover.
to get income - which would be as a dividend - ACL has to have paid off the loan it owes as it stands £14m or so
oldskyblue58
CCFC Finance Director
that assumes the only income is the rent from the football club callum ........... that rent accounts for 15% of income apparently so i think £20m is light
although that includes trading income share from joint venture with compass.
However the hotel, casino, exhibition halls, function rooms etc all have a rental value away from CCFC usage
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coundonskyblue
New Member
ACL is 50% owned by the Council, 50% owned by the Higgs trust.
ACL's debt is owed to Yorkshire bank.
Thats as much as I know!
smouch1975
Well-Known Member
If I won £51 million, the last thing I would do is invest in the players. SISU have correctly identified the profits are in the stadium and the money it generates. SISU have now realised this. When they speak of mistakes, this is what they are infering. £40 mill in wages or £40 mill in property. Which of these is still standing?
Own those and the team will grow from the profits.
To quote Kevin Costner "Build it, and they will come"
I will never support a sale to SISU
Own those and the team will grow from the profits.
To quote Kevin Costner "Build it, and they will come"
I will never support a sale to SISU
chiefdave
Well-Known Member
Does anyone know the financial breakdown of the initial stadium build? On the costs from I would guess you the actual design work, buying the land, decontamination and then the build itself.
Would be interested to know who put what in? I would imagine, at least initially, all the design costs were by CCFC but from then on I'm not sure. We know the council put some in, did Higgs put anything in and how much was funded in the form of loans?
The value of the stadium is interesting, PF seems to be indicating in the Telegraph that the value of the stadium from day 1 was less than the cost of build which would mean the only way the council will ever make the money back is to have it running at a decent profit every year which doesn't seem to be happening from what is being said at the moment.
Would be interested to know who put what in? I would imagine, at least initially, all the design costs were by CCFC but from then on I'm not sure. We know the council put some in, did Higgs put anything in and how much was funded in the form of loans?
The value of the stadium is interesting, PF seems to be indicating in the Telegraph that the value of the stadium from day 1 was less than the cost of build which would mean the only way the council will ever make the money back is to have it running at a decent profit every year which doesn't seem to be happening from what is being said at the moment.
Try this dave its all there but torchy has an article somewhere on here that goes more into the feasability ,richardson influence ,obviously fletchers recent artices bring out little bits as well http://cmis.coventry.gov.uk/CMISWebPublic/Binary.ashx?Document=4974