Ricoh rent deal has collapsed (1 Viewer)

[dantheman]

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

Not if the assurances are out of their hands??

 

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[cloughie]

Not if the assurances are out of their hands??

Everything is now firmly in Sisus hands pay at least something and stop stalling or get out

As for the build a new stadium its a joke, sounds like a spoilt brat reaction from a child

 

[CJparker]

I think that the council are now going to use the rent issue as a way of forcing SISU out of CCFC - good for them!

Show a bit of backbone and we will see the last of SISU - even if the council have to take over ownership for a while it would be OK, as at least club and ground could then be re-sold in a single package - far more attractive proposition to future investors

 

[Bluegloucester]

Totally agree CJ, ACL have the law on their side. They should force Sisu to pay their debts or hand the club over to responsible owners. The stadium and CCFC as a package is a lot more attractive to potential new owners.

 

[Sky Blues]

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......





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!!

Thank you for your insights once again OSB. It makes much more interesting and enlightening reading than the insults flying around today.

 

[Sky Blues]

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?

Did you see my piece on the Doncaster deal? Fourth post down on this page:

http://www.skybluestalk.co.uk/threads/24428-Thanks-Doncaster/page4

 

[oldskyblue58]

This from Cllr Kevin Foster ( http://www.coventrycity-mad.co.uk/n...ome_temporary_pain__foster_783367/index.shtml )


City Conservative Councillor On Ricoh/City latest
Coventry City Conservative Councillor Kevin Foster has tweeted that there will be short term pain for the Sky Blues before any long term gain.
Cllr Foster tweeted: "Fans will naturally be worried by latest CCFC position but it may be necessary to take some temporary pain for a long term gain.
"The latest twist in Ricoh tale sadly says everything about CCFC under SISU. A fair deal has been offered. They said NO.
It is direct action to get the money owed and restrict the club's trading. Next stage is winding up.
"Have to look from where we are. Current owners playing a game not looking to future.
"The future is about a sustainable club able to own its stadium. That is not what planned and without going over old ground much of what is happening was predictable in 2003.
"Mediation would be difficult where one party refuses to budge an inch whilst other has moved a long way."

The bit in red is interesting - it appears there is action 1 to recover money then action 2 winding up

It also seems to show all councillors are united on the matter and opposition to SISU

Going to get very rocky sooner than later I feel

TF/club will comment tomorrow apparently that should be interesting and I suspect the knives are out on both sides now. I would expect TF not to hold back and burn the remaining bridges after today. But guess we will see tomorrow

 

[coundonskyblue]

This from Cllr Kevin Foster ( http://www.coventrycity-mad.co.uk/n...ome_temporary_pain__foster_783367/index.shtml )


City Conservative Councillor On Ricoh/City latest
Coventry City Conservative Councillor Kevin Foster has tweeted that there will be short term pain for the Sky Blues before any long term gain.
Cllr Foster tweeted: "Fans will naturally be worried by latest CCFC position but it may be necessary to take some temporary pain for a long term gain.
"The latest twist in Ricoh tale sadly says everything about CCFC under SISU. A fair deal has been offered. They said NO.
It is direct action to get the money owed and restrict the club's trading. Next stage is winding up.
"Have to look from where we are. Current owners playing a game not looking to future.
"The future is about a sustainable club able to own its stadium. That is not what planned and without going over old ground much of what is happening was predictable in 2003.
"Mediation would be difficult where one party refuses to budge an inch whilst other has moved a long way."

The bit in red is interesting - it appears there is action 1 to recover money then action 2 winding up

It also seems to show all councillors are united on the matter and opposition to SISU

Going to get rocky sooner than later I feel

Any idea OSB what action 1 would entail?

 

[procdoc]

why have loads of posters on here all of a sudden got a hard on for SISU? Both the council/ACL and SISU are trying to rip each other off, that's business. Do some posters not remember all the torrid shite SISU have put us through over the last few years? Yeah, they saved the club blah blah blah but what exactly have they done to improve it?

 

[oldskyblue58]

I would guess some sort of charge over income sources much like an attachment to earnings, how else do they get hold of money from CCFC ? cant seize assets because they are all charged................... but restricting trading could mean locking the doors.

I dont think we will have to wait long to find out csb

 

[Sky Blues]

I would guess some sort of charge over income sources much like an attachment to earnings, how else do they get hold of money from CCFC ? cant seize assets because they are all charged................... but restricting trading could mean locking the doors.

I dont think we will have to wait long to find out csb

Any idea how that would work OSB? I am picturing ACL telling City they can continue playing at the ground, but only if they have ACL people collecting the ticket money and that they will pass on what is left after deductions for rent and running costs. That picture seems unrealistic. Is there a more workable way in law, because if Sisu are collecting the money I don't see them handing it over voluntarily or, on current form, under duress of court order either.

 

[Otis]

They send people round with baseball bats?