RegTheDonk
Well-Known Member
Was just coming off the bog! Did SL just say something about SISU would accept a 99 year lease at the Ricoh?
Feel free to delete this thread if it wasn't.
Feel free to delete this thread if it wasn't.
SISU 99 Year Lease? (1 Viewer)
- Thread starter RegTheDonk
- Start date
SlowerThanPlatt
Well-Known Member
Yep. Heard it too.
fernandopartridge
Well-Known Member
It would mean SISU would buy out ACL's lease and then probably pay extra to extend it.
chiefdave
Well-Known Member
is that from SISU directly or just SL speculating? Could be a step forward but it would depend what they mean, do they mean a 99 year lease with ACL, if so at what rent / terms, or do they mean replacing ACL as the management company, if so they would almost certainly need to pay £20m (Higgs share and cost of loan) as a minimum. Hopefully its the former and not on some weird terms that make deal unlikely.
ccfc92
Well-Known Member
so the council would still own the Ricoh?
chiefdave
Well-Known Member
hope that's the case, I've said for a while that is the best option all round. if they buy out ACL and council and pay off the loan I don't think anyone would object to them owning the lease at a peppercorn rent. CCC retaining the freehold would give a level of protection against SISU doing something 'dodgy'.
Rusty Trombone
Well-Known Member
Indeed, this sort of deal would be what most would want. Access to revenues without wasting money on owning a stadium.
fernandopartridge
Well-Known Member
The freehold yes.
ccfc92
Well-Known Member
sounds like a good scenario, what's stopping it happening right away?
(tongue in cheek) (apologies to Nick, RFC and all other sixfields attendees)Fisher brought It up at the Shareholder meeting IIRC,or an SCG.
SkyBlueScottie
Well-Known Member
Its a win win. The freehold becomes more valuable with a long term lease as does the football club.
chiefdave
Well-Known Member
Is it noted anywhere exactly what he said? This seems like a big breakthrough if it's as being reported by SL so seems a bit odd everyone missed it so hoping it's not CWR getting the wrong end of the stick.
ccfc92
Well-Known Member
more than likely :facepalm:
In CJ's first post on this thread.
http://www.skybluestalk.co.uk/threads/39920-Shareholder-s-meeting
chiefdave
Well-Known Member
Do you mean this (CJs first post doesn't say anything about it):
That reads to me more that SISU expect the council to wind ACL up, which I'm not sure it's in their power to do, and issue a new lease to SISU, possibly for free. What it would really need is SISU to bid for ACL with an agreement with CCC that once they take over the lease will be altered.
Can someone that was there clarify or better still can our esteemed local press get hold of someone and push for some details on it.
That reads to me more that SISU expect the council to wind ACL up, which I'm not sure it's in their power to do, and issue a new lease to SISU, possibly for free. What it would really need is SISU to bid for ACL with an agreement with CCC that once they take over the lease will be altered.
Can someone that was there clarify or better still can our esteemed local press get hold of someone and push for some details on it.
Sorry CD its houdi's opening post point No4.
I'd guess Les Reid may have put something in the CT about It ,but It was odd that nothing got reported about he meeting for 2-3 days afterwards and It was low key.
Samo
Well-Known Member
I did think it was odd that this was not siezed upon by anyone/everyone. I remember thinking at the time that perhaps this was the target for SISU, the freehold being thier starting position. You don't start by asking for what you really want right? There's nowhere to go from there!
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magic82ball
New Member
Obviously this can't be the case. TF said that the Ricoh ship had sailed, that only full ownership was an option, that they were pressing ahead with a new stadium. Do you mean to tell me this was all lies and brinkmanship?
Otis
Well-Known Member
What would it mean for Sisu to have a 99 year old lease?
Guess it would show they were not committed or dedicated enough to commit for the full 100 years.
Would prove once and for all that they were not in it for the long haul.
skybluetony176
Well-Known Member
a 99year lease in the clubs name (cant keep up with which sisu company that is these days) at the right price has to be the best option for both our club and the local council, whether its the best option for joys investors is another question and that will be the sticking point going forward.
chiefdave
Well-Known Member
spot on, while it would be great for everyone else its hard to see how SISU could ever hope to make £60m plus back that they claim to have already invested along with the additional cost of purchasing the freehold. even with the club and the stadium rejoined and if we managed to get back in the prem without losing much more money I would doubt anyone would pay that much for the club.
skybluetony176
Well-Known Member
i guess it would mean we are either stuck with sisu for 99years or it wont happen.
dongonzalos
Well-Known Member
Get the 99 year lease ( with the right terms)
Get the club into the championship
Get within striking distance of the prem.
You have a saleable asset again. One that would probably return their investment and some on top.
Far more likely way of making a profit
Than buying the Ricoh
Or
Building a stadium
Hopefully SISU will see the light.
Get the club into the championship
Get within striking distance of the prem.
You have a saleable asset again. One that would probably return their investment and some on top.
Far more likely way of making a profit
Than buying the Ricoh
Or
Building a stadium
Hopefully SISU will see the light.
chiefdave
Well-Known Member
wouldn't need to worry about that if it was a peppercorn rent. can't imagine the rent would be much more than that if SISU purchased 100% of ACL and paid off the loan.
Samo
Well-Known Member
It wouldnt mean that at all, it would mean SISU would have something to sell. We'd be shot of them a lot sooner IMO.
Rusty Trombone
Well-Known Member
Only if they could sell for an awful lot more than they could buy it for, why would the seller sell so cheaply if it was worth more?
Take your point Dave but I really can't see it being a peppercorn. If it is that would some climb down by the Council and possibly a dereliction of their public duty. I would however be happy with the compromise but then my only concern is for the future of my club.
Samo
Well-Known Member
Because this particular seller is only too aware that SISU will not fook off until they have something to sell at a profit and it would be in the sellers interest to have the club at the Ricoh when it is eventuallty sold.
