Joy Seppala: “We will not interfere with any deal between Wasps and ACL re: Ricoh" (1 Viewer)

[stupot07]

Stu, I'm not pretending for a moment to understand it, but how could that work? If IEC is 70% owned by ACL, and in turn owns the right to all of the F&B etc., then surely ACL gets access to a large proportion of what IEC makes?

If I've read this right, Compass did indeed pay £125m for a ten year deal, but now it all sits in IEC.

http://www.xperiology.com/speaker-preview-striking-the-deal-in-house-or-outsource/

I am genuinely confused. Generally though, if ACL are such a poor investment, why are Wasps looking to buy in?

I think (and don't quote me on this) that as part of the deal compass got the contract for managing events/F&B's so they keep they keep the lionshare of the profit, which makes sense when you consider just c10% profit from F&B's when you consider the prices you're paying. I'll try and find the post.


Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors

 

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[Ian1779]

It's her - she's behind the Wasps deal. I thought it before and now I'm even more convinced..

 

[Jack Griffin]

I think (and don't quote me on this) that as part of the deal compass got the contract for managing events/F&B's so they keep they keep the lionshare of the profit, which makes sense when you consider just c10% profit from F&B's when you consider the prices you're paying. I'll try and find the post.

Yeah, that has got to be the way it is structured. They paid a lot, so they'll expect a good profit out of it.

 

[bigfatronssba]

It's her - she's behind the Wasps deal. I thought it before and now I'm even more convinced..

But why get the Wasps involved? That's the bit I don't understand.

 

[Ian1779]

She can get the lease via another party, and offer that party a venue to host their 'big games' as part of the deal as a gift for their help.

 

[duffer]

I think (and don't quote me on this) that as part of the deal compass got the contract for managing events/F&B's so they keep they keep the lionshare of the profit, which makes sense when you consider just c10% profit from F&B's when you consider the prices you're paying. I'll try and find the post.


Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors

Appreciated. I'm just trying to understand what's really going on here and get into the detail. My opinion is pretty shaky at the best of times, but I do at least try to support it with the occasional fact. I'm struggling here though.

 

[samccov1987]

I've been surprised at how quiet the club have been since these rumours started and the fact joy is saying she won't stand in the way of the deal makes me think more is going on than were aware.
Probably putting 2 & 2 to make 5 but what if:
ACL is sold to a consortium fronted by the wasps owner, but incorporating Sisu. Or sisu have an offer on the table for the club that they are prepared to accept from the wasps led consortium if they secure the acl deal?
Just cannot see why sisu would stand by and let this happen unless the price is just out of their price range.

 

[Terry Gibson's perm]

Or do Sisu just believe that the Wasps consortium will be easier to distress at a later date than the council were?

 

[Limey]

Or do SISU just not have a pot to pee in and are now powerless....

 

[DaleM]

Just been mentioned on Central news

 

[Nonleagueherewecome]

Go ahead and build your new stadium Joy, there won't be anyone in it to give you that 365 day a year income. I wonder how Pressley feels about leaving the Ricoh after the passion he showed on our return? "interfering" is such a poor choice of word; they should be counter-bidding. That isn't interfering, it's simple common sense when compared with the cost and disaster that a new ground would bring.

 

[Nonleagueherewecome]

I've just come to the conclusion that our Joy is absolutely barking.

And arrogant

 

[chiefdave]

As Moff said you're missing the point. We asked other clubs to fight on our behalf, didn't we? And this isn't just a "one club" thing. It's not just all about us, or Wasps. It's the slippery slope, the thin end of the wedge, etc etc.

I certainly think we should all give our total support to Wasps and Cov RFC fans however Sepalla's statement means that we can't really protest on the grounds that SISU should be given chance to buy the stadium or it should be kept for the club. She has made it very clear SISU are not interested so that would be an argument it would be impossible to justify.

So if we are protesting on the basis of it being back for fans of Wasps and Cov RFC we're going to look pretty stupid if they aren't protesting as well. A strong prescense from all 3 sets of fans on Tuesday sends a clear message, a handful of our fans on their own does not.

Or sisu have an offer on the table for the club that they are prepared to accept from the wasps led consortium if they secure the acl deal?

That would make sense to me, SISU agree to sell the club, CCC & Higgs agree to sell ACL and everything is joined together as we have wanted it to be for a long time. To be frank if it's not something like that the response from Sepalla today can't be justified. SISU have done some shocking incompetent things with our club but standing by as our ground is sold off, according to many on the cheap, would top the lot.

 

[Ian1779]

Go ahead and build your new stadium Joy, there won't be anyone in it to give you that 365 day a year income. I wonder how Pressley feels about leaving the Ricoh after the passion he showed on our return? "interfering" is such a poor choice of word; they should be counter-bidding. That isn't interfering, it's simple common sense when compared with the cost and disaster that a new ground would bring.

Are you for real?

If we had to leave Ricoh, and had to build a new stadium - in Coventry, you wouldn't go?

Call yourself a fan...

 

[lifelongcityfan]

Are you for real?

If we had to leave Ricoh, and had to build a new stadium - in Coventry, you wouldn't go?

Call yourself a fan...

I actually think a lot of people would not go to the sisu stadium. I have supported city for 40 plus years and very much doubt if i would go.

sisu have no ambition for the club...just look at the current side and where they are in the third division.

For a lot of people it will be the last straw!!

 

[Ian1779]

I actually think a lot of people would not go to the sisu stadium. I have supported city for 40 plus years and very much doubt if i would go.

sisu have no ambition for the club...just look at the current side and where they are in the third division.

For a lot of people it will be the last straw!!

And if they are forced??? Still take the same line?

 

[Nonleagueherewecome]

Are you for real?

If we had to leave Ricoh, and had to build a new stadium - in Coventry, you wouldn't go?

Call yourself a fan...

We didn't have to paint ourselves into this corner, did we? We never "had" to leave The Ricoh and if we hadn't done that in the first place, we wouldn't be in the position we are now.

No, I wouldn't go if we built a new stadium, and at that stage no, I wouldn't call myself a fan any longer. A downsizing to a sub-20k stadium would be permanently reducing our potential-enough for us to be unrecognisable as the same CCFC that I have supported all of my life. We'd be sentenced to a future in L2 & L1, Championship tops. Because of the causes of that downsizing, I'd quit at that point.

 

[Hobo]

"I don't want to go down as someone who distresses businesses, I restructure them." Joy Seppala.

A sign perhaps she realises her reputation has been damaged and needs to re brand herself?

 

[Rusty Trombone]

And if they are forced??? Still take the same line?

Are the club being forced to leave? Has anyone with authority suggested the club may have to leave?

 

[Ian1779]

We didn't have to paint ourselves into this corner, did we? We never "had" to leave The Ricoh and if we hadn't done that in the first place, we wouldn't be in the position we are now.

We could have stayed at the Ricoh all along and exactly the same thing could have happened.

 

[Ian1779]

Are the club being forced to leave? Has anyone with authority suggested the club may have to leave?

Who knows? But IF they do will you go to a new stadium in Coventry?

 

[Rusty Trombone]

We could have stayed at the Ricoh all along and exactly the same thing could have happened.

You don't think the club constantly saying they are leaving is playing a part in this?

 

[Rusty Trombone]

Who knows? But IF they do will you go to a new stadium in Coventry?

If they are forced to leave, and if SISU find some money, and if they decide to waste it on a new ground, and if this possible new ground is in Coventry, and if this is in my lifetime, I'll have a think about it then.

 

[sky blue john]

I am beginning to wonder that myself.

If it were Wasp or Cov RFC fans arranging it we could say that there cause is worth it and we should rightly show solidarity for there plight.

These fans who are affected really need to come and organise a protest themselves. If our owners have made it plain and clear that they have no intension of putting a counter bid forward who are are we to start a protest behalf of the Wasps and Cov RFC. That is for them to do.


All we can do is show them support by joining them and not interfering by running there protest for them.


We really need to spend our energy on now demanding that SISU/Otium build the new Stadium in Coventry.

I would say this post hits the nail on the head !

 

[Ian1779]

You don't think the club constantly saying they are leaving is playing a part in this?

Again it's all conjecture.

But ultimately there is a possibility that if Wasps were to take over the Ricoh that we could be kicked out. Not saying it will come to that but it could happen.

Likewise - had we stayed at Ricoh all along then this potential deal could have occurred. This is what happens when we don't own (or at least control) our stadium. Which happened long before SISU arrived.

It could all be something or nothing... we just don't know.

 

[Rusty Trombone]

See this quote from Joy. Ms Seppala said: “I do not want to go down as someone who distresses companies. I restructure businesses that are already distressed. I have acted in good faith, and I have an honest reputation. Rob must have spat his coffee out when she came out with that.

 

[Grendel]

I would say this post hits the nail on the head !

Can someone ban this Luton troll - all day he has been pissing himself at our misfortune.

 

[RFC]

See this quote from Joy. Ms Seppala said: “I do not want to go down as someone who distresses companies. I restructure businesses that are already distressed. I have acted in good faith, and I have an honest reputation. Rob must have spat his coffee out when she came out with that.

Recently met her (JS) and was impressed by what I saw and heard and what she did but like most positive things it was never reported.

 

[Rusty Trombone]

Again it's all conjecture.

But ultimately there is a possibility that if Wasps were to take over the Ricoh that we could be kicked out. Not saying it will come to that but it could happen.

Likewise - had we stayed at Ricoh all along then this potential deal could have occurred. This is what happens when we don't own (or at least control) our stadium. Which happened long before SISU arrived.

It could all be something or nothing... we just don't know.

Its not conjecture that the deal is temporary as that's what the club wanted, it's not conjecture that Joy wants to leave.

its not conjecture that whoever owns ACL would make more money if the City played there. It's not conjecture that SISU didn't want to carry on the deal to buy into ACL.

But if you want to convince yourself that we will be kicked out, you carry on.

 

[Rusty Trombone]

Recently met her (JS) and was impressed by what I saw and heard and what she did but like most positive things it was never reported.

Why would it have been reported? Maybe you should prepare a press release.

 

[Grendel]

Its not conjecture that the deal is temporary as that's what the club wanted, it's not conjecture that Joy wants to leave.

its not conjecture that whoever owns ACL would make more money if the City played there. It's not conjecture that SISU didn't want to carry on the deal to buy into ACL.

But if you want to convince yourself that we will be kicked out, you carry on.

Many on here said weddings make more money and CCFC being there lost ACL money

 

[Deleted member 5849]

Recently met her (JS) and was impressed by what I saw and heard and what she did but like most positive things it was never reported.

So would you care to share, so we too can be impressed?

 

[RFC]

So would you care to share, so we too can be impressed?

I will only share what I choose to not what you think I should!

 

[Rusty Trombone]

Many on here said weddings make more money and CCFC being there lost ACL money

I appreciate you letting me know about this.

 

[Rusty Trombone]

I will only share what I choose to not what you think I should!

You said that to Joy? You should be reported.