Sisu boss Joy Seppala rejects council offer to play at Ricoh Arena rent-free

[andyboy81]

its not what they say, its what they DO !

Action speak louder than words Nick

They "said" that plans would be shown for new stadium, etc etc. I really don;t want to write down the list of everything they "said" but havent done !

Have CCC actually given a Price yet?

 

[ccfcway]

Have CCC actually given a Price yet?

its not been made public if they have one.

Current actions demonstrate that CCC dont want to sell to SISU and SISU dont want to rent Ricoh,

Surely the FL can get involved if ACL demonstrate a short term solution to CCFC playing in Cov that is financially beneficial and brings the club home ?

 

[bigfatronssba]

It's not to long ago people were asking for a fair offer, now it's over the top, who is supposed to benefit in your eyes?

Who said anything about paying over the top?

I said make an offer that can't be refused. Present their vision of the Ricoh Arena under their ownership.

How it will benefit the club, how it will benefit the city of Coventry, because right now all we've heard is how it will benefit joy and her investors.

If you want to buy something its up to you to take the initiative.

 

[bigfatronssba]

I don't think it's really about who benefits ... as long as sisu loses.

Benefits to Ccfc and the city of Coventry of sisu owned freehold then please?

 

[andyboy81]

Who said anything about paying over the top?

I said make an offer that can't be refused. Present their vision of the Ricoh Arena under their ownership.

How it will benefit the club, how it will benefit the city of Coventry, because right now all we've heard is how it will benefit joy and her investors.

If you want to buy something its up to you to take the initiative.

Think your forgetting the key issue regarding buying and selling...

One side needs to want to sell & the other must want to buy.

 

[njdlawyer]

Have they said they want the ricoh for free?

Clearly they don't as they have just turned down an offer that amounts to precisely that.

If, as other posters have pointed out, the "New Stadium" is something more than another Fisher Fantasy then why turn down the rent free offer that would appear to guarantee lower costs and greater revenue. For the next three years whilst building that stadium (though we are now almost 20% of the way through the "Three Year Plan" and don't appear to have a location or planning permission some six and a half months after Fisher told us they would be announced) they can use the RA rent free whilst benefitting from an increase of 500% plus in ticket revenues.

To the best of our collective knowledge they have never made an offer for the freehold - and given the way they play the media you can bet your bottom dollar we would have known had they done so

Conclusions? There isn't and never has been a "New Stadium" to be built on the outskirts of Coventry or anywhere else, they want the ACL part of the business for nothing and will distress them until they get it and they hope to get the freehold, ultimately, if not for free then certainly at a much reduced price indicative of a repossession value or a fire sale

As another poster has pointed out, this is how they conducted business in the past and there is no greater pointer for the future than an examination of history

Most of us knew or believed this anyway but the proof just keeps coming

 

[ecky]

Clearly they don't as they have just turned down an offer that amounts to precisely that.

If, as other posters have pointed out, the "New Stadium" is something more than another Fisher Fantasy then why turn down the rent free offer that would appear to guarantee lower costs and greater revenue. For the next three years whilst building that stadium (though we are now almost 20% of the way through the "Three Year Plan" and don't appear to have a location or planning permission some six and a half months after Fisher told us they would be announced) they can use the RA rent free whilst benefitting from an increase of 500% plus in ticket revenues.

To the best of our collective knowledge they have never made an offer for the freehold - and given the way they play the media you can bet your bottom dollar we would have done had they done so

Conclusions? There isn't and never has been a "New Stadium" to be built on the outskirts of Coventry or anywhere else, they want the ACL part of the business for nothing and will distress them until they get it and they hope to get the freehold, ultimately, if not for free then certainly at a much reduced price indicative of a repossession value or a fire sale

As another poster has pointed out, this is how they conducted business in the past and there is no greater pointer for the future than an examination of history

Most of us knew or believed this anyway but the proof just keeps coming

your right labowich when questioned on bbc cov today about the new stadium coughed and spluttered a dodge out answer, you could hear his brain spinning thinking of something to say, and he couldnt so quickly changed the subject...the guy was a clown on the radio this morning and said acl were full of spin..rich coming from you sisu boy?

 

[oldskyblue58]

http://www.bbc.co.uk/programmes/p01l0p08

This should be the show Labovitch was on ....... around about 08:10 this morning

 

[RPHunt]

http://www.bbc.co.uk/programmes/p01l0p08

This should be the show Labovitch was on ....... around about 08:10 this morning

Yes, he seemed to know that Weber Shandwick had four people working on spin for ACL, but not how many sites were under consideration for the new stadium. Funny that.

 

[DazzleTommyDazzle]

Yes, he seemed to know that Weber Shandwick had four people working on spin for ACL, but not how many sites were under consideration for the new stadium. Funny that.

Beyond parody.....

 

[Godiva]

http://www.bbc.co.uk/programmes/p01l0p08

This should be the show Labovitch was on ....... around about 08:10 this morning

Thanks, gave me a chance to listen.

Most important bit for me was ML saying they had agreed with CCC to buy the stadium- they have a term sheet on CCC paper.
They were to bring in AEG to replace ACL ... and here you may find the reason for the 'slight opposition' from ACL.

But it's not news, we have heard it all before.
Yet many ask why sisu don't just make a bid for the stadium. Well, been there, done that.
Many ask why ACL and sisu can't just agree a deal. Well the deal sisu want will cost ACL their jobs.
So much is about politics, power and some peoples individual position and so little is about the fans, the team or the club.

 

[bigfatronssba]

Thanks, gave me a chance to listen.

Most important bit for me was ML saying they had agreed with CCC to buy the stadium- they have a term sheet on CCC paper.
They were to bring in AEG to replace ACL ... and here you may find the reason for the 'slight opposition' from ACL.

But it's not news, we have heard it all before.
Yet many ask why sisu don't just make a bid for the stadium. Well, been there, done that.
Many ask why ACL and sisu can't just agree a deal. Well the deal sisu want will cost ACL their jobs.
So much is about politics, power and some peoples individual position and so little is about the fans, the team or the club.

You'll forgive me if I don't take his word or it.

 

[James Smith]

Yes, he seemed to know that Weber Shandwick had four people working on spin for ACL, but not how many sites were under consideration for the new stadium. Funny that.

Can't listen yet as I'm at work but it sounds like we're going to be playing at Sixfields for many years at this rate if a director of the company doesn't know something basic like that. The New Stadium is Plan A isn't it (he is quoted in the Coventry Telegraph story as saying as much today) so he should be fully briefed on it - what does he do at Otium?

 

[CvsF]

You'll forgive me if I don't take his word or it.

Only one mouth tells the truth eh? ACL's?

 

[valiant15]

Labovitch just sounds like a desparate fool.

You can hear the sheer desperation in his voice for this land grab to happen. He comes across as a cocky arrogant middle class tosser whos used to getting his own way.

Where do sisu get all these parasites from?

 

[Godiva]

You'll forgive me if I don't take his word or it.

Well, it's part of the documentation sisu base their JR upon.

 

[James Smith]

Only one mouth tells the truth eh? ACL's?

No we should be challenging both sides to prove things they claim so we can make our own minds up. The claim from Tim and now Mr Labovitch that they have signed deals from the council - can we see the documents please and the plans for the new stadium which you promised. ACL can you substantiate your claim to be doing better this year and that you can do without the club. Etc.

 

[chiefdave]

Most important bit for me was ML saying they had agreed with CCC to buy the stadium- they have a term sheet on CCC paper.
They were to bring in AEG to replace ACL ... and here you may find the reason for the 'slight opposition' from ACL.

I work regularly with AEG and I've asked before when this has been raised and had the people I work with ask around and no one at AEG seems to know anything about this, the comment I always get back is they have a very good working relationship with ACL that they are more than happy with (it is AEG who put on most of the stadium shows in the summer).

Also raises the question how would SISU, when buying the freehold from the council, be in a position to replace ACL who would have 40plus years to run on a valid lease.

I've sure ML can explain all this and will be releasing the paperwork showing he is correct through the Telegraph, Bob Ainsworth, club website or by some other means. Or could it be that he is being deliberatly misleading and is referring to the agreement made with the council, discussed on the Lamptey podcast, that had a prerequisite of SISU purchasing Higgs 50% share in ACL, which of course we all know was a deal that SISU agreed with Higgs and then walked away from leaving Higgs to pay the legal costs.

 

[fernandopartridge]

No we should be challenging both sides to prove things they claim so we can make our own minds up. The claim from Tim and now Mr Labovitch that they have signed deals from the council - can we see the documents please and the plans for the new stadium which you promised. ACL can you substantiate your claim to be doing better this year and that you can do without the club. Etc.

Are we not back into a position of being sub judice with this sort of thing now?

 

[valiant15]

Well, it's part of the documentation sisu base their JR upon.

Why don't they threaten Northampton council with a jr then? Theyre using tax payers money to redevelop sixfields aren't they?

 

[fernandopartridge]

Why don't they threaten Northampton council with a jr then? Theyre using tax payers money to redevelop sixfields aren't they?

That isn't the point they're making though valiant. The deal with ACL is not about using taxpayer's money to redevelop a council owned property.

 

[bigfatronssba]

Only one mouth tells the truth eh? ACL's?

Well I base my opinions of people/groups over a length of time. Sisu have been caught out lying more times than I care to remember.

For that they lose the right to benefit of the doubt.

 

[Godiva]

I work regularly with AEG and I've asked before when this has been raised and had the people I work with ask around and no one at AEG seems to know anything about this, the comment I always get back is they have a very good working relationship with ACL that they are more than happy with (it is AEG who put on most of the stadium shows in the summer).

ML clearly said they would bring in AEG to manage the stadium and that CCC had been 'blown away' by their presentation.

Also raises the question how would SISU, when buying the freehold from the council, be in a position to replace ACL who would have 40plus years to run on a valid lease.

The deal was to buy out the mortgage (and discharge it) and to take over the CCC shares in ACL. They would in bilateral negotiations buy Higgs shares as well.

I've sure ML can explain all this and will be releasing the paperwork showing he is correct through the Telegraph, Bob Ainsworth, club website or by some other means. Or could it be that he is being deliberatly misleading and is referring to the agreement made with the council, discussed on the Lamptey podcast, that had a prerequisite of SISU purchasing Higgs 50% share in ACL, which of course we all know was a deal that SISU agreed with Higgs and then walked away from leaving Higgs to pay the legal costs.

I don't think you will find any documents being leaked by sisu - I can't remember they have ever done that, so not in their genes. They have presented the documents to the court and the documents can well have been the pivotal to the court giving the go-ahead for an actual JR.

Still one thing seem clear - they agreed with CCC to buy the mortgage and discharge it. But before that happened CCC bought it themself. Between agreeing HOT and CCC buying the mortgage the chairman of ACL became director in Yorkshire Bank. Coincidence?

 

[oldskyblue58]

They agreed a head of terms ............ which is not a binding contract no matter whose note paper it is on

I believe there was a similar head of terms agreed in January wasnt there?

if Mr Labovitch is an independent director does that mean his views are his own not necessarily those of the Board or owners?

 

[Godiva]

They agreed a head of terms ............ which is not a binding contract no matter whose note paper it is on

I believe there was a similar head of terms agreed in January wasnt there?

I agree - it's not binding, but it guides both parties to actions that should achieve the terms and set the expectations that 'we are working together'.
People here have been all over sisu about how we can't trust anything they say ... well, if we can't trust the CCC when they agree terms, then I think that is just as bad.

if Mr Labovitch is an independent director does that mean his views are his own not necessarily those of the Board or owners?

Are you suggesting he was making up what he said about the HOT or bringing in AEG as management of the stadium?
Just because he is not an executive director it doesn't mean he is doesn't know what is happening or that he is telling lies on the radio?

 

[oldskyblue58]

ML clearly said they would bring in AEG to manage the stadium and that CCC had been 'blown away' by their presentation. not blown away enough to do the deal though

The deal was to buy out the mortgage (and discharge it) and to take over the CCC shares in ACL. They would in bilateral negotiations buy Higgs shares as well. was it to do that or was it to encourage the council to accept the SISU purchase of the Higgs Charity shares...... not sure the ccc has ever said their shares are for sale. It would also leave ACL owing SISU for discharging the loan.


I don't think you will find any documents being leaked by sisu - I can't remember they have ever done that, so not in their genes. They have presented the documents to the court and the documents can well have been the pivotal to the court giving the go-ahead for an actual JR. well the council didnt present boxes of documents to the court so long as there was enough reasonable evidence from SISU the JR was bound to happen

Still one thing seem clear - they agreed with CCC to buy the mortgage and discharge it except there was no contract to do it. But before that happened CCC bought it themself. Between agreeing HOT and CCC buying the mortgage the chairman of ACL became director in Yorkshire Bank. Coincidence? you tell me in what way do you think it might have influenced things?

got to be honest the thought of allegedly intentionally distressing two companies so that one can not pay its bank liabilities makes me slightly uneasy..... if it happened at all .... and we dont know for sure

 

[lapsed_skyblue]

I agree - it's not binding, but it guides both parties to actions that should achieve the terms and set the expectations that 'we are working together'.
People here have been all over sisu about how we can't trust anything they say ... well, if we can't trust the CCC when they agree terms, then I think that is just as bad.

I think that we have we've around this way at least once before. Didn't the HOT require SISU to buy the Higgs Trust's share of ACL? They failed to do this and, if so, who broke the HOT first?

 

[oldskyblue58]

Are you suggesting he was making up what he said about the HOT or bringing in AEG as management of the stadium?
Just because he is not an executive director it doesn't mean he is doesn't know what is happening or that he is telling lies on the radio?

I am suggesting nothing of the sort ...... i am saying that if independent he is not always going to be in line with the rest of the Board on all issues. As such it further confuses things. Just because you me labovitch etc say anyhthing doesnt mean it is right 100% of the time....... I like to see the proof, preferably from a third party

 

[Godiva]

got to be honest the thought of allegedly intentionally distressing two companies so that one can not pay its bank liabilities makes me slightly uneasy..... if it happened at all .... and we dont know for sure

If the 'prize' was getting full control over the stadium and thereby be able to make a profit in the end ... well, I wouldn't put it past them.
This is capitalism ... Greed is Good. Greed is God.
And the winner takes it alll.

I only hope that when this is all over in a few years that we will have a club owning the stadium it plays in and have enough revenue streams to bring us back to the premier league where we (in our minds) should be.

 

[skybluefred]

Never forget, this is a hostage situation- Coventry won't get its club back til the ransom is paid.

That's goodbye CCFC then.You NEVER give in to threats whatever the outcome..If the worst comes to the worst
the Phoenix will rise from the ash's and be a lot stronger for it.
:blue:

 

[Godiva]

I am suggesting nothing of the sort ...... i am saying that if independent he is not always going to be in line with the rest of the Board on all issues. As such it further confuses things. Just because you me labovitch etc say anyhthing doesnt mean it is right 100% of the time....... I like to see the proof, preferably from a third party

Me too!
We all would and that is why we are so dissapointed by the level of journalism whenever a media has covered a part of the story.

 

[Como]

Would it not make more sense for the Ground to buy the Club than the Club buy the Ground, how much is the Club worth?

 

[tisza]

I can't see how they can have agreed a deal to buy the stadium as I thought both recent leaders of the council had said such a deal would have to be voted on by the whole council.

 

[oldskyblue58]

Think you misunderstand Godiva if either or both sides colluded in that it makes me uneasy......... i wouldnt view either side in a positive light ........ the Capitalism justification does not excuse it in my mind............

Think the fans deserve better than what is going on............. only hope at the end of this there is a club to own a stadium

 

[Godiva]

Would it not make more sense for the Ground to buy the Club than the Club buy the Ground, how much is the Club worth?

The club is worth nothing - which is why sisu won't sell.