Nick
Administrator
To be fair, nobody really believed they would move the club away did they?
Probably because both Fisher and Seppala have both said, that they don't wish to deal with CCC. But its ok as they have both stated their wish to build a new stadium on the outskirts of the City. If Fisher says they intend to build a new stadium, who are we to doubt him.
I didn't understand the desire to own the freehold either - I thought they were after ACL. But Ms Seppala keeps saying she wants the freehold, so I can only go with that.
If sisu (ccfc Holdings) own the freehold it increases the assets sisu are managing - thereby increases their salary.
Owning the freehold would also give right to build a hotel, offices or housing - the much sought land development - and that would increase revenue.
In any case - if ACL's figures add up and their business really is that much better now - then why would they change it? They would maybe want to buy ACL at some point, but apparently it is not in sisu's short term planning.
I think that what you will find is SISU want the Freehold and the lease that ACL currently own. The freehold generates no cash and only gives limited control of the leaseholder. SISU would still therefore have to pay rent to ACL. So I think you may be missing something.
I think that what you will find is SISU want the Freehold and the lease that ACL currently own. The freehold generates no cash and only gives limited control of the leaseholder. SISU would still therefore have to pay rent to ACL. So I think you may be missing something.
Any comment from Mr Linnell, who has been emphatic in his view that the Ricoh can't possibly survive without a football club that can't fill the ground from this catchment area?
How is the lease paid? Was that just paid in one up front payment at the start or is that monthly like rent?
They paid £21m up front, financed through a loan from Yorkshire Bank.
When ACL ran into difficulties paying the loan, the Council refinanced the remaining balance at a cheaper rate.
I think that's how it worked.
I think that what you will find is SISU want the Freehold and the lease that ACL currently own. The freehold generates no cash and only gives limited control of the leaseholder. SISU would still therefore have to pay rent to ACL. So I think you may be missing something.
It was never just a football ground, more than half of the revenue even when the club was there was from outside the city, let alone outside football.
What it should mean is that it's better placed to offer preferential terms to the football club at times where it finds itself down on it's luck.
ACL being strong helps everyone.
In which case, we can all sit back in eager anticipation for Tim's long waited for, new stadium plans. How much longer do you think we will have to wait? Remembering how Les Reid was telling us that SISU were the preferred bidder at Brandon, despite Sandhu publically stating any sale would have to guarantee continued use of Stock Cars/Speedway/Greyhounds. Despite tickets already being sold for next year's World Stock Car Final. You would have thought if it was a genuine desire to build a new stadium, then by now there would be at least 1 credible site identified. The area surrounding Coventry is not that big.To be fair, nobody really believed they would move the club away did they?That was always just a bluff to many (including me)
I am sorry, but your question was not related to wether it was a bailout or not.
And anyway, I have no straight answer for you. It is my priority no 1, that the club and stadium is united ... that will benefit the club the most in the long term and is the only solutiuon that support most fans ambition of returning to the top flight. Everything else is of less interests to me. Be it if sisu go bankrupt or ACL make a fortune or Fisher gets fired .... I don't really care.
But I did say in this and another thread that the freehold should be sold to the club for the exact amount CCC has pumped into the Ricoh project over time.
I think some on here seem to think the value of the bricks / steel / mortar should include any value that ACL has built into it.
So you are saying that the taxpayer shouldn't lose out so that SISU can benefit then?
I'm thinking that figure would be at least £24m: £14m for the mortgage, and £10m for the grant (and possibly a bit more for all of the related works around the site).
But of course the freehold doesn't give SISU ACL, who are effectively tenants, or would you want the council to give up their share in ACL for that too. If so, you're going to have to buy out the Higgs trust, who can veto the sale. Another £4 - £6m?
So around £30m for the whole shebang. Which is still a good deal compared to £25m for 12,000 seats in the sticks. Does that sound about right? It's a long way from the £7m that seems to have been suggested in the Les Reid article.
Yes - that is pretty much what I say.
The £7m figure is nonsense.
Then don't fall off your chair, but I'd tend to agree with you. I can understand why people don't want to sell to SISU, but to be honest I'm not looking at this from the football club's point as much as the taxpayer. If the taxpayer can get out without a loss, I don't think it matters who they sell to. The club have already decided to move out, I'd love them back, but I don't want the burden to fall on the City. Blimey. I may print this out and frame it.
Heart starter! Where the Hell is the heart starter?
First OSB, now you -both agreeing with me on the same day.
It's a conspiracy.
WTF did I do wrong?
Call me old fashioned if you will, but I like my football grounds to be centred around football.
Self-interested? yep, I'm a Coventry fan!
But all this diversification concerns me that it means the club forgets the essence of what it is anyway, and to regain that it needs a strong sense of place regardless.
But that isn't going to happen is it, so the only other solutions are build a new ground or the Arena is sold to the club.
ACL is a very viable business and they have a long lease on the Stadia, Selling the Ricoh who have a detrimental effect
on ACL so of course ACL should be well Compensated.
She said it isn't going to happen, that isn't the same as it isn't going to happen. It was a very public and deliberately times statement, to that effect a very clever one as she has us all at it! Who cares what she says anymore, I couldn't care less. Her statements form part of a very calculated web of deceit and for that reason I pay no attention to them, other than to realise why they are said.
Of course she's not going to say 'Yeah we'll go back to the Ricoh and pay you rent.' At some point this may become her only option. I think it is the only realistic possibility. Hopefully, at some point she will too.
Fair play to ACL if they've increased turnover by nearly 100% (or more if you consider that the club is now gone). Some of it is based on enquiries but I can't imagine ACL would forecast on the basis of something that wasn't likely to come to fruition.
I'm interested to see what the increased turnover is made up of.
Then surely if they love CCFC so much they could offer them the same deal, as I have said on other threads this would make them come out smelling with roses wouldn't it and you couldn't really argue SISU's side much?
I said the FREEHOLD should be sold to the CLUB for the exact amount of money the CCC has pumped into the Ricoh project over time.
I never (in this thread) discussed selling the ACL to the club ... but over time that would be ideal.
If the club returned to the Ricoh rent-free, only paying the matchday costs and received ACL's share of matchday F/B - that could maybe be acceptable to sisu. I don't know.
I only want the club back in the city - preferbly the Ricoh, but a ne build-for-purpose stadium would be nice too.
I think some on here seem to think the value of the bricks / steel / mortar should include any value that ACL has built into it.
'Independent evaluator'. Where do we find one of those?
Who picks him/her. Who pays for their time and expertise? Imagine the answer to these two questions will be key in determining what 'value' is put on the Ricoh. Is it just the stadium, the whole site, the freehold and/or ACL that needs to be valued?
Heart starter! Where the Hell is the heart starter?
First OSB, now you -both agreeing with me on the same day.
It's a conspiracy.
WTF did I do wrong?
Nice press release.
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