Quick catch up (1 Viewer)

[dongonzalos]

Sorry but I am abroad, I am struggling for access. Got it finally this morning. Quick check of the site and I an confused.
I am taking a guess the hoff has finally spoken because we have demanded that he does. Most people have been saying his silence is because nothing is happening. So he has been forced to say somethiing to show he is not a fake.

However I take it he has said I am chatting to the Chinese. He has not named anyone and nothing is firm. He is just letting us know that sisu are scaremongering when they say there is not alternative.

I have to say someone with Hofman's reputation in the financial world is not going to make things up or say them for the fun of it. Also as a lifelong Coventry fan he will not be intentionaly trying to harm our club.

Sisu it seems are trying to buy half the stadium. That would mean 10 million. Yet they still have not paid the rent or given us a budget. We have released 4 players and signed nobody.

If they are trying to buy half the stadium and have 10 million. That shows they have the finance to get us out of this division.

That also shows not paying the rent, not giving us a budget and threatening us with liquidation was all bullying negotiating tactics. These tactics have caused the fans a great deal of concern and shows how little the owners care about the fans.

So in summary are both sides releasing statements but not really telling us jack shit.

Hoffmans lot are waiting for sisu to come to them saying we will talk about you original offer or they will snatch the club when it goes into admin.

Sisu are either holding back the funds to negiotiate with the council to get their hands on the stadium. Or they don't have the funds and are doing all these negiotions to force the hoffs lot to bid more money.

Basically we need the hoff to come in with a bid. Or we need sisu to come up with this budget.

I would love it if it was hoff, the idea of sisu been round for the long term frightens me as it means many years of untrust and getting lied to.

Is this what I have missed?

 

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[Sky Blue Kid]

To me, SISU have said they have half of what's needed to buy half of the stadium(£10m of the £20m needed)
They said this last summer, but did nothing to help with buying playing staff. SISU frighten me as well, and I hope "Hoff" comes up with the goods...sooner, rather than later.

 

[Otis]

If the stadium is worth £20m I wonder what would happen if someone (not necessarily Sisu or Hoffman's lot) offered over the 20m?

What would happen if say a bunch of investors said they would give £25m or even £30m? Must be a price surely whereby the whole stadium would be for sale mustn't there?

 

[Sky Blue Kid]

If the stadium is worth £20m I wonder what would happen if someone (not necessarily Sisu or Hoffman's lot) offered over the 20m?

What would happen if say a bunch of investors said they would give £25m or even £30m? Must be a price surely whereby the whole stadium would be for sale mustn't there?

Think you've got a point there Otis!

 

[diggerdaley]

Surely the Ricoh is worth more than £30 mil. more like £100 mil.

 

[Sky Blue Kid]

If a half share is £20m. then a full share is £40m.

 

[wingy]

The £10m. only buys the higgs stake in ACL which does'nt own the stadium ,the council own the stadium !!!

 

[wingy]

The full cost to own the Stadia and land around would be in the £100m. region normally ,but strangely according to a council document relating to the whole Ricoh project from inception to completion and the first season or two ,because there is a tennant with lease in place the freehold is worth very little ,the value is in ACL at the moment that would be where money would need to be spent if we wanted to improve our fortunes.

 

[SkyBlue_Bear83]

Someone working with Hoffman has said they are trying to find Chinese investment and SISU had a meeting about buying half the stadium.

"It is understood that Hoffman’s people are talking to a number of investors who are currently evaluating where to put their money this year."

That is odd because people have been telling us for the last 9 months that Hoffman has had investors waiting in the wings ready to buy the club and SISU refused to talk to them.

All in all more hot air from Hoffmans lot and probably more bullshit from our lot.

 

[dongonzalos]

Someone working with Hoffman has said they are trying to find Chinese investment and SISU had a meeting about buying half the stadium.

"It is understood that Hoffman’s people are talking to a number of investors who are currently evaluating where to put their money this year."

That is odd because people have been telling us for the last 9 months that Hoffman has had investors waiting in the wings ready to buy the club and SISU refused to talk to them.

All in all more hot air from Hoffmans lot and probably more bullshit from our lot.

ha ha as I thought thanks

 

[Sky Blue Kid]

The full cost to own the Stadia and land around would be in the £100m. region normally ,but strangely according to a council document relating to the whole Ricoh project from inception to completion and the first season or two ,because there is a tennant with lease in place the freehold is worth very little ,the value is in ACL at the moment that would be where money would need to be spent if we wanted to improve our fortunes.

So what you are saying is £20m will only buy approx 1/5th of the stadium? and not as SISU claim 1/2.

 

[Johnrambo]

Construction cost £113 million, this is without the ground price.

 

[stupot07]

Tbh I remember Ranson saying we had a an option to buy half the arena before 2015 and a price may have been stated in that agreement. The council didn't pay for the whole build of the Ricoh, for example £60m came from the sale of the Tesco's site to Tesco's, £5m from the Casino, etc, etc.

ACL then borrowed money to pay the council £20m for a 5 year lease, effectively paying bak the council what they had put in to the build.

As much as we all hate Sisu, let's not forget that in bailing us out the Council have got a £100m stadium for hardly any cost.

I would imagine the discussions are about buying the Higgs 1/2 of ACL and part of the lease hold.

 

[wingy]

So what you are saying is £20m will only buy approx 1/5th of the stadium? and not as SISU claim 1/2.

SBK if they were allowed by the Council to buy 50% of the real estate it would most likely cost £50m.,but the only thing on offer is the Higgs stake in ACL ,currently valued at £10m. on special offer agreed before we moved in ,this option runs out in around 1yr,which when passed would cost whatever 50% of whatever ACL's value is.

 

[stupot07]

Construction cost £113 million, this is without the ground price.

Yep the club paid for the land and decontamination.

 

[wingy]

The entire project cost £118m. from start to finish .The Construction of the Arena itself cost £58m. The council Made £60+m. from the sale of land to Tesco .They recieved around £12-15m. towards land decontamination and infrastructure from Advantage west Midlands and Euro money,+£6+m. from IOC towards the Casino.This left a Construction shortfall of around £25m. which is now being serviced by the 50 yr lease ACL took out @£500k. per an.

 

[Sky Blue Kid]

Thanks guys, the information is much appreciated.

 

[theprince]

I seem to remember a shortfall of £21 million and a nervy last ditch meeting was held by the council. Numbers of each party were split pretty well down the middle. All the Tory councillors voted against and the ruling Labour group had to summon votes from Dave Nellist's socialist party group and a couple of Labour councillors, left their sick beds to vote it through. There was uproar on the websites, GMK in particular as had the Tory vote won we, the club that is, would have been left high and dry without a ground, the then Tory leader Ken Taylor never really explained why if i remember correct.