In my opinion, based on his track record (he has been proved to be untruthfull in his statements in the past) and SISU's record as a whole I would say largely without truth and merit. My feeling is if he had any evidence to back up these claims we would have seen it by now. If there was some sort of 'smoking gun' that would change everyones opinion and but ACL / Higgs / Council under pressure I don't think they'd be hiding it. He seems to make outlandish claims knowing there is very little chance of any legal action being taken against him by the council for his statements.
The suggestion that the council should negotiate with all the leaseholders, pay out all the leases and talk about selling the unfettered freehold is ludicrous in the extreme.
What isn't clear to me is that if SISU want the Ricoh and don't want the contracts why can they not take over with the contracts in place and then buy off / renegotiate the contracts themselves once they have ownership?
It's almost as if every time a move is made towards meeting SISUs requirements they add in something even more outlandish until it ends up at a point where what they are wanting is virtually impossible.
AMEN! couldn't agree more with both statements.
He'd be accused of not being open.
What isn't clear to me is that if SISU want the Ricoh and don't want the contracts why can they not take over with the contracts in place and then buy off / renegotiate the contracts themselves once they have ownership?
It's almost as if every time a move is made towards meeting SISUs requirements they add in something even more outlandish until it ends up at a point where what they are wanting is virtually impossible.
Well, we shall see. ACL/CCC hardly dismiss any of the comments aimed at them, but then they always say they are not allowed. Interesting what he says about their PR company too. It would be interesting to know if any of that has any truth. I'm sure you'll tell me it hasn't.
But surely they would need to see ACL's books to determine whether it is viable to buy off/renegotiate contracts and if so what value to put on the package as it stands? After all, they've been lambasted for their poor due diligence regarding the rent by many, perhaps they don't want to make the same mistake again.
So when Sisu bring up the same old bull$hit we should just sit back and take it?
You can believe it but I feel better for passing comment.
Stick together and the Sisu era will be die by a thousand little cuts.
The price for purchasing ACL or the freehold will not be impacted by the amount it costs to buy off other contracts. Most potential owners would see having business in place generating revenue as a plus point! There is nothing stopping SISU approaching any of those businesses at the Ricoh and enquiring how much they would be looking for to have their contracts bought out. It's not a case of looking at ACLs books and coming up with a figure, its a case of what those that hold the contracts will accept.
Of course if SISU were to make a serious bid this kind of thing could be carried out under the due diligence process but why should the council / ACL waste time and money on it when there is no bid on the table?
But surely they would need to see ACL's books to determine whether it is viable to buy off/renegotiate contracts and if so what value to put on the package as it stands? After all, they've been lambasted for their poor due diligence regarding the rent by many, perhaps they don't want to make the same mistake again.
But how can you make a bid without seeing the books? That just doesn't make sense to me. Do you just pluck a figure out of the air and go with that?
But how can you make a bid without seeing the books? That just doesn't make sense to me. Do you just pluck a figure out of the air and go with that?
I read another set of minutes and ask the same question "Why can we not get an independent valuation done for the Arena?" It's obvious that they're interested in purchasing the Arena.. I just wish that both sides would achieve this it would provide a fair solution and possibly a quick end to all this mess.
If I was in charge at SISU I would go back to Higgs and complete that deal to purchase 50% of ACL at what is believed to be around £5m. I would then go to the council and make an offer of around £14m (essentially clearing the loan) for their 50% as a starting point and go from there, I think that would be a bid that would make the council think I was serious. That deal would be conditional on the lease being converted to a rolling lease with peppercorn rent. If I then wanted any other business out of the Ricoh I would negotiate with them individually.
A valuation costs money, why should ACL or CCC pay out? Why don't SISU get a valuation done themselves and make an offer based off that.
Because if CCFC get a valuation what chances are they going to be able to get access to the full ACL accounts meaning how reliable is the valuation going to be? Meaning further down the line any bid could just be considered unsatisfactory which also means a waste of time and money.
I read another set of minutes and ask the same question "Why can we not get an independent valuation done for the Arena?" It's obvious that they're interested in purchasing the Arena.. I just wish that both sides would achieve this it would provide a fair solution and possibly a quick end to all this mess.
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If I was in charge at SISU I would go back to Higgs and complete that deal to purchase 50% of ACL at what is believed to be around £5m. I would then go to the council and make an offer of around £14m (essentially clearing the loan) for their 50% as a starting point and go from there, I think that would be a bid that would make the council think I was serious. That deal would be conditional on the lease being converted to a rolling lease with peppercorn rent. If I then wanted any other business out of the Ricoh I would negotiate with them individually.
Well ACL have filed accounts which should give the valuers a fair idea and enable them to come up with a decent valuation. At the very least it would show SISU are serious and put the ball in the councils court. If SISU made a serious bid based off a valuation the council would then have to respond and things would either move forward or we would see if the council were unfairly blocking SISU from purchasing.
Fair enough. But what if they bought Higgs share and then the council refused to negotiate? They would have spent £5m and not really gained anything (I believe ACL has a 5-man board and the Higgs share would give them 2 board places - which would mean they could technically be outvoted on any decisions).
I've said this before to you I think, Sisu don't want to buy what the council can sell, so the talk of valuations is completely irrelevant, it's again just a smoke screen.
SISU can not pay the full market value simply because that wont get their investors the return on investment required. Right now they need to find a way to repay ARVO £9m+ and the original investors £28m that will not be done in buying the stadium at full market value there simply is not enough profit in it with or without the team being there
If SISU get an independent valuation at say £5m and say CCC get a valuation at say £20m why do the council have to compromise to meet half way? Surely CCC are duty bound to get the full value and their advice received would be that's 20m. To sell at less than that value would be against Local authority rules but also likely to be seen as state aid
As owners of the freehold CCC are quite within their rights to say no unencumbered sale. It comes as is. To think that CCC could afford to pay off the various contracts to do this and still get a positive value at the end of it is simply ridiculous
They do not have to sell on terms demanded by SISU, no matter how often it is stated as the reasonable course of action. Keep hearing must sell, need to sell, its rightfully this or that. Well from the fans point of view it is what most want (not necessarily to SISU for many though), that does not mean that from other perspectives it is the right thing to do at all.
SISU can not pay the full market value simply because that wont get their investors the return on investment required. Right now they need to find a way to repay ARVO £9m+ and the original investors £28m that will not be done in buying the stadium at full market value there simply is not enough profit in it with or without the team being there
That leaves what is actually going on in my opinion....... court cases and legal challenges with the prospect of financial compensation
Do you really think that SISU are interested in offering what the CCC think it is worth though Robbo?
Do you really think that SISU are interested in offering what the CCC think it is worth though Robbo?
Do you think we're at a point now where SISU have to get the Ricoh for next to nothing or they are out of options? I can't really see any other way they can get close to recouping what has been put in even if you assume the actual figure 'invested' is far lower than they claim.
If they had to walk away how big an impact will it be on them? Will they have written off the money invested over time or will they have a big hole at the point they walk away?
Another point that ml made that that i laughed at is the bit about it is illegal for two or more people to conspire to damage a third party.
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