Denying the plan was ever to distress ACL to get the stadium “on the cheap”, she said: “The council owns the freehold and has a right of re-entry. So in the event of ACL going bust they could take the lease over anyway and continue to run the stadium. This also means that if somebody went in to buy ACL, the council had the right to refuse the assignment, whoever that buyer was.
“I am focussing on the future and not looking back.”
She is irritated by any impression that no rent at all was paid since last April, when the club began withdrawing the full £100,000-a-month payment, claiming it was unfairly above market rate.
Ms Seppala said the club had continued to pay matchday costs, adding: “Broadly speaking, the council still owes the club £400,000 with a rates rebate. The club owed net rent of £600,000. The result is that we owed £200,000 net.
“We didn’t want to distress ACL, but the club couldn’t afford to pay the rent, especially given the Financial Fair Play rules (which limits spending on the team to 60pc of revenue). We wanted to do a deal (with the council and ACL). We wanted to go together to Yorkshire Bank (to buy out ACL’s “mortgage” for cheaper than the £14million the council paid in January).
“Then, at the end of November, we were told the council wouldn’t approve the deal over the 50 per cent Higgs share.”
Interestingly we have all missed the point the club were expecting the rebate of 400k from overcharging and I think joy actually explains it all rather well with these few quotes. I've never really bought the whole distress ACL bit as I've always thought even if ACL go bust as joy says the council will decide what to do as they own the freehold so makes no difference to sisu anyway.