Ricoh rent deal has collapsed (1 Viewer)

[covcity4life]

So Robins' reason for departing suddenly becomes clear. Well done SISU, your inability to take a reasonable deal has screwed us to the max once again!

robins blamed the council dumbo. nout to do with him leaving

 

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[covcity4life]

if council were not so anti sisu i think we would own 50% of the stadium by now, but because they block any attempts to buy it forces sisu and ccfc to be resigned to a lifetime of paying rent or look at building their own ground

its a shame when the city already has one high quality football ground but their owners(the council) are too greedy to sell it back to the football club.

we cant continue paying rent and not making profit

next 6 motnhs will see change imo

either we find a way to make profit

or we will cease to exist.

paying long term rent to council will only keep us on life support for a few years

 

[Bluegloucester]

There is more to come out of this, expect an anouncement from ACL shortly, watch this space....

 

[cloughie]

Yestersday people were calling Robins a liar backstabber you name it they called him it. Skyblue blood here for the long haul etc

today we can take every word he says as gospel truth and fact...............if it suits

Unbelievable

 

[chiefdave]

Mutton seemed to forget to mention not backdating any agreement and wanting SISU to stump up a million in arrears. Didn't an offer of £400K rent get turned down before? Why would they accept it now if they didn't before?
I'm not a big fan of SISU but I think there's far too many people who have been involved in the club who have placed a lot of blame at the council. Yes the vast majority of them have all had their own interests ahead of CCFC but you just get to the point where there's so many people saying it that you have to wonder if there isn't some truth to it. Robins certainly has nothing to gain by taking shots at the council so for him to say something he must believe they are an issue.

 

[torchomatic]

YEsterday people were saying he was going because of SISU. That was the reason and no other.

Today he only mentions the Council and people aren't happy and start bleating about it.

Unbelievable

Yestersday people were calling Robins a liar backstabber you name it they called him it. Skyblue blood here for the long haul etc

today we can take every word he says as gospel truth and fact...............if it suits

Unbelievable

 

[oldskyblue58]

just my thoughts and opinions, before some smart alec says it is all conjecture and we all know nothing

Ok on the basis that ACL wouldnt comment in this manner without checking it with the legal beagles......

"As of 1 February 2013, CCFC owes ACL £1.347 million in rent arrears. CCFC have failed to pay or contest the High Court judgment obtained by ACL in August 2012 and neither did CCFC contest the Statutory Demand served by ACL in December 2012. no challenge ? either they knew they couldnt win or there was some other plan going on that made a challenge un-necessary or a subsequent action by ACL desirable

"The rent deal offer from ACL laid out in writing on 29 January was verbally agreed following an extremely detailed discussion with the three directors of CCFC, namely John Clarke OBE, Tim Fisher and Mark Labovitch. Clear to who was there, the three directors of CCFC & CCFCH and took place 29/01 ...... all a matter of fact ....... verbal agreement is ACL's understanding but why say so if not what happened...... key thing though is there was nothing in writing (contracts dont have to be)

"The offer set the rent payable by CCFC to ACL at £400,000 per annum while the club remains in Football League 1. why would they state this if not true

"It included agreement from ACL to waive more than £300,000 of the £1.347 million rent arrears, with a generous approach to clearing the balance. It also agreed the principle of ACL matchday revenues benefitting CCFC, and ACL paying a larger share of rates on the stadium. wonder what the generous approach was..... is it the term of the repayment or perhaps if other events happened then further write downs applied. Seems ACL agreed to CCFC having all matchday incomes, a key issue we have been told by TF etc and they have what they want......... on top of that they get a rates reduction...... all good i would have thought


"Instead of confirming its written acceptance, CCFC then proposed an alternative Heads of Terms, which bore no relation to that agreed. It demanded the waiver by ACL of all rent arrears claims pre-dating 1 January 2013. It demanded also the withdrawal of the statutory demand for the payment of rent arrears issued by ACL against CCFC on 5 December 2012. Heads of agreement are usually agreed by negotiation to seemingly reject those agreed and unilaterally demand new different terms is never going to acceptable....... also what were the 3 directors doing there if they didnt have the power to make an agreement. Why would ACL waive their right to a rental for the months from April to December which together with the escrow balance was the basis of the statutory demand ...... ACL can of course reduce the amount they are prepared to accept but to write it all off is an unrealistic demand. Why would anyone after all the negotiations both sides have said were going on believe that at the Heads of Agreement stage ACL could or would accept that

"It was accompanied by an emailed statement from Tim Fisher declaring that CCFC has 'no option but to build a new venue' and that CCFC’s proposals were predicated on playing at the Ricoh Arena for a 'run-off period of three years.' would guess they wouldnt say that unless they had that email............. but it doesnt stop the lease at the Ricoh or a landlords right to compensation for early termination

"This is totally unacceptable to ACL." looking at this from neither side is anyone really surprised that it is unacceptable to ACL and they have to do something

Nicholas Carter, Chairman of Arena Coventry Limited, said: "If the club directors can’t or won’t follow through on the agreement they participated in creating, then we suggest to them that the time has come to consider offering ownership of CCFC to an outside buyer better placed to run the club’s financial operations.

"Make no mistake, now is the time for Sisu to pay up or sell up and get out of Coventry."strong words in deed and says that ACL have had enough of all this


''The board of ACL believes that Sisu, have no intention of entering into a meaningful dialogue to resolve this issue. It is the board’s view that the primary aim of Sisu throughout the last 11 months has been to undermine the financial position of ACL’s business through the non-payment of lawfully owed rent and stalling on reaching an agreement." In their position then I am certain I would form the same opinion, I suspect there is an awful lot not being said that has gone on that has been obstructive to a deal taking place........... delaying tactics like further investigations, demands for due diligence perhaps on ACL and its associates etc etc. I have always believed that SISU have tried to take ACL by destroying ACL's finances but that was just my opinion. Seems that is also the opinion of the board and stakeholders of ACL



Read More http://www.coventrytelegraph.net/ne...ave-collapsed-92746-32810856/2/#ixzz2KsvfJzmN

There are of course two or more sides to every story ........... but I have had enough of all this, just how low do SISU etc want to take this club. It is all well and good them saying the club must have this or that - well damn well pay for it then. If they want to go elsewhere well go on then, but make clear that unless something very drastic happens then the club still have legally incurred debts to pay. This has nothing at all to do with the fans or a love of football ..... everything to do with a love of money. Every step so far has been on a bumpy path down .... yes there have been the odd upward curve but the overall path is down. We career from one crisis to the next, teeter at the top of a steep hill for a month or 5 then fall again.......

It is not the Council, the Charity or ACL that run, manage, direct or own CCFC and its associated companies. It is a largely faceless hedge fund. There have been necessary good things done by sisu to improve things, better financial control generally being one so it hasnt been all bad but...... They came in to the club and largely wrote off in their own books most of the debt owed ....... the slate was pretty much clean, they had opportunities to renegotiate lease or even break them but failed to do their job right, they have saddled the club/group with £40m+ new debt (that includes none of the debts CCFC had in 2008), still we have players overpaid that we can not move on and still we are on the brink.

ACL would not have issued a statement like this if there was not other moves going on. There is no point ACL going for winding up just yet. If it were me I would try to get some sort of attachment to earnings so that ACL receive something. The only thing that CCFC have available is there income - there are no assets to get hold of........ there are funds from the cup matches, MR's fee, the general income...... if it can be done I do not know ...... but if it is then it leaves other bills like wages and HMRC unpaid unless SISU fund it further. From what we have been told JS doesnt want to fund further (but will fund a new ground apparently) so that means CCFC cant fund their operations.... which means the directors must consider their going concern and perhaps take action to wind up themselves

Today is not a good news day!!

 

[valiant15]

I know cloughie,two faced cunts. Fuck off to south warwickshire then sisu,enjoy a coupl3 of thousand wet locals turning up if your'e lucky.

 

[Bluegloucester]

Thanks OSB, well put.

 

[Grendel]

So Robins' reason for departing suddenly becomes clear. Well done SISU, your inability to take a reasonable deal has screwed us to the max once again!

There is nothing reasonable about the deal.

Robins departure has nothing to do with this. The statement timing by ACL is deliberate and tactical.

 

[Grendel]

Yestersday people were calling Robins a liar backstabber you name it they called him it. Skyblue blood here for the long haul etc

today we can take every word he says as gospel truth and fact...............if it suits

Unbelievable

Robins left purely for money.

However these threads are riddled with conspiracy theorists all desperate for him to criticise the owners. When he didn't the disappointment and desperation was hilarious.

People can't have it all ways. If he says the owners have supported him then that is that. The rental arrangements we have are the most punitive and restrictive in the football league (Walsall aside) and are definitely hampering progress.

The council have bailed ACL out. Robins admits that the board have supported the club. They should allow the club rent free terms for this and next season. Many other council owned stadiums have allowed this. Only the supporters are preventing this from happening.

 

[ccfctommy]

I really cannot see SISU spending 30 million on a new ground even they cannot afford (or refuse to pay) the rent.

 

[Ashdown1]

Its quite clear SISU, pay up or fuck off and if it takes the club down in its unsustainable joke form then so be it ! We will never be able to move forward with these idiots in charge, this week has proven it yet again. This slow death has to come to an end, only they won't drop it as they will lose a lot of face and a few quid into the bargain.

 

[oldskyblue58]

There is nothing reasonable about the deal.

Robins departure has nothing to do with this. The statement timing by ACL is deliberate and tactical.

From what i understand the meetings to discuss this were arranged well in advance of Robbins going and took place before MR decided to go. So this statement etc would have happened had he stayed. No significance in it being today at all ............ other than it being Thursday

 

[Grendel]

Its quite clear SISU, pay up or feck off and if it takes the club down in its unsustainable joke form then so be it ! We will never be able to move forward with these idiots in charge, this week has proven it yet again. This slow death has to come to an end, only they won't drop it as they will lose a lot of face and a few quid into the bargain.

What on earth are you on about. It's supporters like you with your warped view on reality that is helping to create this mess.

You are contributing nothing to the debate. It's just meaningless unsubstantiated garbage.

 

[Grendel]

From what i understand the meetings to discuss this were arranged well in advance of Robbins going and took place before MR decided to go. So this statement etc would have happened had he stayed. No significance in it being today at all ............ other than it being Thursday

I disagree I think there is every significance in the statement being made today.

 

[grego_gee]

To be fair though, SISU should sort this out now and for all or at least pay something as a gesture.

Of course they can't, the council are shafting us and the club! Compare the deal given to Doncaster Rovers by their council landlords! A very similar situation. Not only is the offer of 400k a year way out of line -they are still pushing for the rent in full at the prem/championship rate for the period in dispute!
Way out of line!

http://www.ccfc.co.uk/news/article/club-statement-261212-559871.aspx

imp:

Now confirmed by MR

http://www.clubcall.com/huddersfield-town/robins-reveals-agony-over-terriers-switch-1546639.html?

 

[AFCCOVENTRY]

fffin moron SISU created this problem not the council higgs trust or acl so SISU should pay up or ship out i would prefer the latter

How did Sisu create this issue you moron!!?!

The old regime signed terms with acl which were ridiculous and didn't factor in relegation to division 3 terms.

Sisu didn't have an option to negotiate terms when they purchased the club.

Moron...

 

[blueflint]

grendel i cant believe that people cant see the bigger picture over the last 5 years SISU have systematicaly robbed city and now they are robbing ACL.read oldskyblues post and understand it the sooner SISU go the better.If that means the club goes then so be it personally i think another buyer will appear but not while SISU remain

 

[blueflint]

How did Sisu create this issue you moron!!?!

The old regime signed terms with acl which were ridiculous and didn't factor in relegation to division 3 terms.

Sisu didn't have an option to negotiate terms when they purchased the club.

Moron...

SISU could and should of renegotiated at the take over 5 years ago that failure created the problem now what happened before should of been sorted then as well so SISU failed that failure could cost the club its existance its that seriuos so how am i a moron i can see whats happened i cant foretell the future

 

[Grendel]

grendel i cant believe that people cant see the bigger picture over the last 5 years SISU have systematicaly robbed city and now they are robbing ACL.read oldskyblues post and understand it the sooner SISU go the better.If that means the club goes then so be it personally i think another buyer will appear but not while SISU remain

Have you ever heard the term "Oxymoron"

 

[spwaverley4916]

Morally bankrupt? No, he left in a disrespectful manner, but remember, today's football manager is yesterday's politician, they are careerists, and he's been offered a better job on more money, not morally bankrupt, he left for a 'promotion'.

Indeed, I am annoyed at him, but there is no such thing as loyalty in today's football, there's more risk involved in his move to Huddersfield, but there's more benefits if it works out.

Make no mistake, I'm annoyed and I feel disrespected, but that's the game now.

What would you know on the ins and outs of these negotiations, MR would, so he has a respectful view on this topic, he knows stuff we don't, he gets the meat on the bones, we just get the bones.

not agreeing or disagreeing with either of you - and i did not see the sky report -however please consider this - I doubt if MR has been involved with the talks between SISU and Council and only knows what he is told ( which undoubtedly is more than us mortals), He stated before he left that he had been in a mtg with board members who may have given him their (SISU's) spin on things going on. That, in my opinion,is why MR has blamed the council as one of the reasons he left.
Perhaps just perhaps this story has broke now by the council members to push the blame away from them and back to sisu - after all they have to be re-elected - unlike SISU.
I am as frustrated like everyone about whats happening at the club I have supported for some 48 years - but the only thing we can do is to turn up in numbers and support the Team.

 

[spwaverley4916]

think this says it all really---
"It was a considered decision," said Robins, who alluded to the current rent dispute between the club, Arena Coventry Ltd - the owners of the Ricoh Arena - and Coventry City Council.
"I spoke to the owner, I sought assurances and didn't get any assurances from the owner of Coventry," he said.
"I absolutely wish them all the best, they work their socks off and as I've said before that club needs support from Coventry City Council.
"That led to a decision to want to speak with Huddersfield and that's how the decision has been arrived at."

 

[Jack Griffin]

In what sense has the council not helped, they took out a loan to allow ACL to offer even better terms.. there is a limit to what can be offered.

We are now in a zone where Seppala logic (I am not playing unless I get my way) is being applied.

 

[RegTheDonk]

You'd know that why?

You're an outsider, bitter with the ownership, whereas MR knows the ins and outs and has made an informed decision on the situation, have you? You know nothing compared to MR.

Yeah, well his informed decision was probably based on Fisher/sisus view of the situation, which would obviously be biast, hes hardly going to be privvy to the actual meetings or council minutes is he?

 

[shropshirecov]

The people who agreed the original rent are idiots, we know that.
but
400 grand a month to rent the ricoh, what are these mongs on. I'm no fan of Sisu but ACL are killing the club.

 

[Jack Griffin]

The people who agreed the original rent are idiots, we know that.
but
400 grand a month to rent the ricoh, what are these mongs on. I'm no fan of Sisu but ACL are killing the club.

A lower deal than that was offered.

Also the previous offer included a share of catering receipts and writing of a considerable fraction of the £1.3M debt in unpaid rent.

As of 1 February 2013, CCFC owes ACL £1.347 million in rent arrears. CCFC have failed to pay or contest the High Court judgment obtained by ACL in August 2012 and neither did CCFC contest the Statutory Demand served by ACL in December 2012.

The offer set the rent payable by CCFC to ACL at £400,000 per annum while the Club remains in Football League 1.

It included agreement from ACL to waive more than £300,000 of the £1.347 million rent arrears, with a generous approach to clearing the balance.

It also agreed the principle of ACL matchday revenues benefitting CCFC, and ACL paying a larger share of rates on the stadium.

 

[Bluegloucester]

The people who agreed the original rent are idiots, we know that.
but
400 grand a month to rent the ricoh, what are these mongs on. I'm no fan of Sisu but ACL are killing the club.

It's £400k per year

 

[oldskyblue58]

errr it is 400K per year or 33.3k per month or about £16k per game ................ btw each game with average crowds of 11000 brings in £140k in ticket sales net of VAT on average

hardly killing the club

 

[Nonleagueherewecome]

errr it is 400K per year or 33.3k per month or about £16k per game ................ btw each game with average crowds of 11000 brings in £140k in ticket sales net of VAT on average

hardly killing the club

I love you OSB...

 

[blueflint]

Have you ever heard the term "Oxymoron"

i refuse to argue with you as you will never see the whole picture until its far too late.and i personally hope the club survives i've supported them over 60 yrs now

 

[dantheman]

errr it is 400K per year or 33.3k per month or about £16k per game ................ btw each game with average crowds of 11000 brings in £140k in ticket sales net of VAT on average

hardly killing the club

Which equates to 3/4 players per season.

 

[Ashdown1]

Or 1 1/2 David Bells !

 

[cloughie]

Morally bankrupt? No, he left in a disrespectful manner.

How can anyone claim they are not morally bankrupt when they say I'm here for the long haul, skyblue blood, spoke with the owners and I'm blood Happy, here that should tell you all you need to know etc

then within days do what he has done

Thats morally okay now is it?

 

[cloughie]

Robins left purely for money.

However these threads are riddled with conspiracy theorists all desperate for him to criticise the owners. When he didn't the disappointment and desperation was hilarious.

People can't have it all ways. If he says the owners have supported him then that is that. The rental arrangements we have are the most punitive and restrictive in the football league (Walsall aside) and are definitely hampering progress.

The council have bailed ACL out. Robins admits that the board have supported the club. They should allow the club rent free terms for this and next season. Many other council owned stadiums have allowed this. Only the supporters are preventing this from happening.

So not getting assurances from the owners was what not critising the owners?