AFCCOVENTRY
Well-Known Member
@BBCCovWarks: Coventry city council has made it clear the Ricoh Arena won't be sold without the debt attached to the stadium
it wont be sold unencumbered or unfettered....... which means it wont be sold without ACL being in place ...... which means the loan ACL has will still be there.
AL didn't rule out an encumbered sale but why any one would buy a freehold that doesn't have rights to any income I do not know.
nearly everything has a sale price
This is the thing with leasehold/freehold. Longer the lease the lower the value of the freehold... so yeah they probably could buy the encumbered freehold quite cheaply... they would just have to wait 40 years to get their hands on the stadium...
irrelevant, CCC wont sell and Sisu wont buy. No deal here folks. Its rental or nothing.
OK Kingo. I just listened to both Labovitch and Lucas on listen again. Dealing with Lucas first. Its really clear. CCC can't sell the Freehold unencumbered, they are not prepared to break contracts. That is just being honourable. She would listen to encumbered sale. So Freehold can be sold under the correct conditions. SISU won't consider the later. Labovitch came across as a bit of a weasel to be honest. If he can not understand the position then he really ought to butt out and let someone who can take over. The truth is that he does understand but it serves him and SISU to muddy the waters and to create confusion. SISU could buy out ACL and buy the encumbered freehold and then they have everything they need. But as I have said before I do not believe they have the funds to buy these assets at commercial value. So they try to bully a council to breach contracts and take the hit so they get the stadium. I am not a fan of CCC but I do applaud the unified stance of all parties not to succumb to SISU or their posturing.
OK Kingo. I just listened to both Labovitch and Lucas on listen again. Dealing with Lucas first. Its really clear. CCC can't sell the Freehold unencumbered, they are not prepared to break contracts. That is just being honourable. She would listen to encumbered sale. So Freehold can be sold under the correct conditions. SISU won't consider the later. Labovitch came across as a bit of a weasel to be honest. If he can not understand the position then he really ought to butt out and let someone who can take over. The truth is that he does understand but it serves him and SISU to muddy the waters and to create confusion. SISU could buy out ACL and buy the encumbered freehold and then they have everything they need. But as I have said before I do not believe they have the funds to buy these assets at commercial value. So they try to bully a council to breach contracts and take the hit so they get the stadium. I am not a fan of CCC but I do applaud the unified stance of all parties not to succumb to SISU or their posturing.
Lucas made it crystal clear, she won't change her stance till SISU change theirs.
They can not break the lease, if they want the freehold with no leaseholder then would need to buy both.
Booo! Evil stubborn council!
When does GCBTTR arrive outside the council house with torches and pitchforks?
That is I assume what they want to do.
That is I assume what they want to do.
OK Kingo. I just listened to both Labovitch and Lucas on listen again. Dealing with Lucas first. Its really clear. CCC can't sell the Freehold unencumbered, they are not prepared to break contracts. That is just being honourable. She would listen to encumbered sale. So Freehold can be sold under the correct conditions. SISU won't consider the later. Labovitch came across as a bit of a weasel to be honest. If he can not understand the position then he really ought to butt out and let someone who can take over. The truth is that he does understand but it serves him and SISU to muddy the waters and to create confusion. SISU could buy out ACL and buy the encumbered freehold and then they have everything they need. But as I have said before I do not believe they have the funds to buy these assets at commercial value. So they try to bully a council to breach contracts and take the hit so they get the stadium. I am not a fan of CCC but I do applaud the unified stance of all parties not to succumb to SISU or their posturing.
Booo! Evil stubborn council!
When does GCBTTR arrive outside the council house with torches and pitchforks?
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