bigfatronssba
Well-Known Member
I would accept the validity of their statements with extreme caution if I were you.
JR Verdict Thread (1 Viewer)
- Thread starter ccfcway
- Start date
I would accept the validity of their statements with extreme caution if I were you.
There is no stadium, you surely can't believe what you've written.
dongonzalos
Well-Known Member
Gotta say when a judge kicks something out right at the beginning after the oral hearing with should vigour there should be no right of appeal back then. Appeals should only be on close calls.
Ian1779
Well-Known Member
He's the Sports Editor/Reporter for Coventry Observer. Do you reckon he was at the Court of Appeal?
dongonzalos
Well-Known Member
Do SISU now have to pay the councils costs?
sky blue john
Well-Known Member
dongonzalos
Well-Known Member
He was in Westminister. ML has mentioned numerous times that he only trusts the observer.
From CCFC website
"Coventry City Football Club and its owners' primary objective remains building a long-term future...
The Judgement by Hickinbottom J, that the Council's (CCC) decision to provide a £14.4 million loan to private stadium management company Arena Coventry Limited (ACL) was not an unlawful subsidy, is unfortunate.
The football club and its owners believe that the loan, which exceeded the value of the stadium by almost 200%, was neither lawful nor in the interests of the supporters, taxpayers, stadium operators or the Club.
ACL will now remain burdened with debt for the next 43 years, removing any prospect of a long term return to the stadium by the Club. With this level of debt there is no realistic prospect of any sports franchise or ACL being able to generate sufficient revenue to be commercially viable.
We will apply for leave to appeal this decision. Now, more than ever, the new stadium is the only viable commercial option. The owner's primary objective remains building a long term sound financial platform for the future growth of the Club.
Read more at http://www.ccfc.co.uk/news/article/...e-one-300614-1706394.aspx#41EbaWJXDMO6oR46.99
"Coventry City Football Club and its owners' primary objective remains building a long-term future...
The Judgement by Hickinbottom J, that the Council's (CCC) decision to provide a £14.4 million loan to private stadium management company Arena Coventry Limited (ACL) was not an unlawful subsidy, is unfortunate.
The football club and its owners believe that the loan, which exceeded the value of the stadium by almost 200%, was neither lawful nor in the interests of the supporters, taxpayers, stadium operators or the Club.
ACL will now remain burdened with debt for the next 43 years, removing any prospect of a long term return to the stadium by the Club. With this level of debt there is no realistic prospect of any sports franchise or ACL being able to generate sufficient revenue to be commercially viable.
We will apply for leave to appeal this decision. Now, more than ever, the new stadium is the only viable commercial option. The owner's primary objective remains building a long term sound financial platform for the future growth of the Club.
Read more at http://www.ccfc.co.uk/news/article/...e-one-300614-1706394.aspx#41EbaWJXDMO6oR46.99
AFCCOVENTRY
Well-Known Member
One thing that is now clear is the council did nothing wrong with proving the loan to acl.
This argument is now closed.
Also the deal between sisu and Higgs fell apart because both parties lost their appetite to do a deal.
Council have offered various lower rental deal for the Ricoh which were rejected by sisu.
Every plan to get their hands on the Ricoh has failed. And failed on purpose.
It's very clear to see what the sisu game plan is and sisu are now in the corner.
They can still redeem themselves slightly by just asking acl to start new rental talks.
But this is highly unlikely....
This argument is now closed.
Also the deal between sisu and Higgs fell apart because both parties lost their appetite to do a deal.
Council have offered various lower rental deal for the Ricoh which were rejected by sisu.
Every plan to get their hands on the Ricoh has failed. And failed on purpose.
It's very clear to see what the sisu game plan is and sisu are now in the corner.
They can still redeem themselves slightly by just asking acl to start new rental talks.
But this is highly unlikely....
Ian1779
Well-Known Member
Never once did I say that....
torchomatic
Well-Known Member
Of course not, but you can see that they are digging in their heels already. We're already a year down the line with the "new stadium" malarky, so this could drag on for a few more years yet.
But at least CCC won, eh? Woo hoo!
But at least CCC won, eh? Woo hoo!
Skyblueweeman
Well-Known Member
They're building an old stadium then?
skybluetony176
Well-Known Member
i think now is the time for all fans groups to come together and put pressure on ACL to make a fresh rent offer for a three year period with some sort of access to matchday revenue.
TheRoyalScam
Well-Known Member
Judge: ''This claim fails formally on grounds one and three of the judgment and I refuse permission for further action on ground two of the judgment.''
TRS...............could mean there's no possibility of an appeal.........
TRS...............could mean there's no possibility of an appeal.........
kevinleftpeg
New Member
The thing is SISU were NEVER going to win so why this latest Court nonsense? Stonewalling for what? And the cost of fees etc? Is it peanuts in their grand scheme.
SO, I am actually looking forward to what they do next as you can bet your bottom dollar they have it planned. I cannot believe they are so foolhardy.
That money making land around the Ricoh is a little further away from there grasp now...... What next?..........
SO, I am actually looking forward to what they do next as you can bet your bottom dollar they have it planned. I cannot believe they are so foolhardy.
That money making land around the Ricoh is a little further away from there grasp now...... What next?..........
AFCCOVENTRY
Well-Known Member
Interesting how the sideshow of the jr now states that by losing this jr there is no chance for the club or any other team playing at the Ricoh!
Talk about chucking your toys out of the pram!
Talk about chucking your toys out of the pram!
Kingokings204
Well-Known Member
A new stadium? Certainly not
D
Deleted member 5849
Guest
ANybody care to point out to me what grounds one, two and three are...
torchomatic
Well-Known Member
Forgetting CCC and CCFC for a minute. Where does this leave ACL and the Ricoh? Do we think that they really do have a sustainable future without the club?
torchomatic
Well-Known Member
hill83
Well-Known Member
Genuinely don't care.
It could have easily taken a year + the other way too though couldn't it? sisu win, council appeal, sisu win, sisu instigate damages proceedings which could easily take months or years especially with more appeals, the loan gets reversed, ACL try to find different finance, acl fail, acl have to call in administrators? then there are bids for the stadium would sisu win this?
the only real chance of a quick outcome was sisu losing and leaving, every other outcome seems to go on for a very long time.
Kingokings204
Well-Known Member
Got to love in the ccfc website..."we believe it was unlawful" however the judge said it wasn't lol are they for real?
bigfatronssba
Well-Known Member
Tried to look it up myself but cant find it on google.
Oggysstarjumps
Well-Known Member
Very well said. Anyone who thinks that a SISU win would be good for football, the club or the city was badly misguided. However, the biggest danger now is that the best way that SISU can reduce their losses would be to liquidate the club in order to avoid paying what they owe.
torchomatic
Well-Known Member
TBF, I think they've got a point. Who's going to be able to afford to play there? They'll need a franchise with a hefty fan base.
I'm not sure they'll be too much celebrating going on at ACL HQ this morning.
I'm not sure they'll be too much celebrating going on at ACL HQ this morning.
Sub
Well-Known Member
We will apply for leave to appeal this decision. Now, more than ever, the new stadium is the only viable commercial option. The owner's primary objective remains building a long term sound financial platform for the future growth of the Club. "
Why will they appeal if building a new stadium is the only viable option ???? is that not a contradictory statement ??
Why will they appeal if building a new stadium is the only viable option ???? is that not a contradictory statement ??
oldskyblue58
CCFC Finance Director
They will have 21 days in which to submit application for appeal. It will need to be on a point of law, as I understand it no new evidence can be submitted.
Does it change much no - we can only hope that it encourages dialogue.
SISU will have to consider their next step - to cut and run is only one of the options. I would suspect that they had been informed of the strengths and weakness of their claim some time ago so would assume they have a reasonable idea of what they do next. Hence the ML & TF comments about side shows etc
In a sense it makes CCFC more vulnerable in that SISU could decide to pull the plug. However we have somewhere to play, a team of sorts, and FL approval to be where we are. A decision by the owners (or new ones) to reach an agreement with ACL would add to that. Does it mean the club is about to disappear? I do not think so but it is an option. They may of course decide to cash in on some of the assets but not necessarily.
I doubt if a return to Ricoh is to be agreed that it will be done through the likes of KCIC or SBT. Is there any need to involve them? Things will be complicated enough. The only reason I can see to involve either is as an ice breaker and to save egos but surely we are well past that are we not?
I would also guess neither CCC nor ACL will be inclined to compromise greatly from the positions they held previously. SISU want to bring the club back then they will have to swallow some compromises on their position.
Time will tell but could be an interesting few weeks
Does it change much no - we can only hope that it encourages dialogue.
SISU will have to consider their next step - to cut and run is only one of the options. I would suspect that they had been informed of the strengths and weakness of their claim some time ago so would assume they have a reasonable idea of what they do next. Hence the ML & TF comments about side shows etc
In a sense it makes CCFC more vulnerable in that SISU could decide to pull the plug. However we have somewhere to play, a team of sorts, and FL approval to be where we are. A decision by the owners (or new ones) to reach an agreement with ACL would add to that. Does it mean the club is about to disappear? I do not think so but it is an option. They may of course decide to cash in on some of the assets but not necessarily.
I doubt if a return to Ricoh is to be agreed that it will be done through the likes of KCIC or SBT. Is there any need to involve them? Things will be complicated enough. The only reason I can see to involve either is as an ice breaker and to save egos but surely we are well past that are we not?
I would also guess neither CCC nor ACL will be inclined to compromise greatly from the positions they held previously. SISU want to bring the club back then they will have to swallow some compromises on their position.
Time will tell but could be an interesting few weeks
Skyblueweeman
Well-Known Member
torchomatic
Well-Known Member
lewys33
Well-Known Member
D
Deleted member 5849
Guest
hill83
Well-Known Member
sky blue john
Well-Known Member
LMFAO !!!!
So let me get this right. They still value 113 million piece of real estate & development land at 7 million ?
They will appeal but they have moved on to build the new stadium ?
What jokers !!!