SISU Statement - Article From Sky Sports (2 Viewers)

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Cigarfingers

Cigarfingers

Well-Known Member
Full Statement Link - Coventry City owners SISU release open letter to fans

Joy Seppala, the head of SISU, owners of Coventry City, has broken her silence over the row which threatens to see the club expelled from the English Football League (EFL) in six weeks' time.

Speaking exclusively to Sky Sports News, the hedge fund chief revealed she believed their disputes with Wasps and Coventry City Council can be resolved - and that every battle they have fought in 11 years of ownership was "to make the club the very best it can be".


Seppala was speaking ahead of a crucial meeting in Westminster later this week called by Culture secretary, Jeremy Wright MP, to help find a solution to the stalemate which continues to threaten the club's existence.

Coventry's tenancy at the Ricoh comes to an end in May - and Wasps refuse to negotiate an extension unless SISU drop legal action over the way the stadium was sold to Wasps in 2014.

"We have kept our counsel for many years as we do not get involved in public rows," Seppala said. "But we are breaking with tradition because it's essential that we explain to the fans, the status of Coventry City FC.



"All we want is a stadium we can call home, an ability to generate revenues like any other football club, to control our costs and build a stable base that will allow us to enjoy more promotions and hopefully one day reach the dream of the Premier League.

"Why are we doing this now? Because the fans must hear all sides of a story which has been 20 years in the making.

"We are not dealing with opinions. We are dealing with facts and today we are providing comprehensive background that sets out how we reached this position."

Crucially Seppala said SISU will drop all legal action against Coventry City Council IF

  • Councillors support a brand new stadium development within the city "on reasonable terms" and
  • They can agree a deal with Wasps to stay at the Ricoh Arena until the new stadium is completed.
In the document, SISU say this offer has been on the table, but have so far failed to find agreement.

In their first public statement for three years, SISU released an eight-page document detailing the numerous battles they have fought - and the reasoning behind the decisions they have taken during their 11-year tenure.

In the document, SISU say:

  • Coventry City council has repeatedly acted against the interests of the club.
  • They continue efforts to find land on which to build a new stadium and have appointed planning consultants to advise on the development.
  • They have agreed on a site for a new stadium on several occasions but have been stopped by EFL rules, Coventry City Council and an unwillingness of some landowners to make such a controversial sale.
  • They have not received any takeover offers which included proof of funds.
No date for the Westminster meeting has been released although we understand it will take place later this week.

However, neither the fans, nor those involved hold out much chance of a resolution unless the long-running legal action over the sale of the Ricoh - the reason for the deadlock over Coventry City's tenancy - was ended.

The meeting is expected to be attended by Colleen Fletcher, MP for Coventry North East, who recently urged SISU to "sell up and go", saying their actions had been "divisive" and "toxic".

Another local MP, Marcus Jones told SISU to look at their "moral obligation to a city, a community and the fans who have supported this club for decades".

Without further assurances at to where they will play their home games next season, the EFL will call an EGM to be held on April 25, where they face expulsion from the league.
 
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GaryJones

GaryJones

Well-Known Member
At last!
A statement from Sisu.
 
H

HuckerbyDublinWhelan

Well-Known Member
To be fair they could put pressure on the council by naming the sites they allegedly had ready to buy. We can see whether it was pie in the sky ideas or whether the council are being dicks.

One thing I can think of is if we build a new stadium and Wasps go tits up, they’re scared the Ricoh will be a white elephant. Therefore not in the councils interest
 
skybluegod

skybluegod

Well-Known Member
IF all of the statement is true.

Then i see that as reasonable from Sisu, Council let us build a new stadium in exchange for no more legal action. Let wasps have the Ricoh.

However does this mean we will drop Legal action against Wasps? As in they name the council could they open it against Wasps?
 
Nick

Nick

Administrator
skybluegod said:
IF all of the statement is true.

Then i see that as reasonable from Sisu, Council let us build a new stadium in exchange for no more legal action. Let wasps have the Ricoh.

However does this mean we will drop Legal action against Wasps?
Click to expand...

The legal action is only against the council, Wasps are an interested party so if the main action is dropped then in theory there would be nothing against Wasps.
 
skybluegod

skybluegod

Well-Known Member
Nick said:
The legal action is only against the council, Wasps are an interested party so if the main action is dropped then in theory there would be nothing against Wasps.
Click to expand...

Yep just clarified what i meant...

As in they name the council could they open it against Wasps?
 
Nick

Nick

Administrator
Interesting bit in regards to PWKH and the Higgs share

Despite media comments to the contrary, there were no conditions attached to SISU's offer other than requesting basic documentation to understand what SISU was purchasing. SISU provided proof of funds, and the Club set out how it would look to continue to work with the Higgs Charity in the future on community projects.
Click to expand...

PWKH didn't help himself with that as the council had contradicted him too but he persists with the "condition" stuff.
 
H

HuckerbyDublinWhelan

Well-Known Member
Reading the whole article in the observer would the sky blues trust look into the legitamacy of this comment @CJ_covblaze

“Wasps would only allow the Club to stay if it traded all its access to the Academy match pitch at the Higgs Centre (apparently as part of the developments of Wasps’ new £7m training ground) in exchange for continuing its tenancy”
 
Nick

Nick

Administrator
Hadn't heard of this bit either.

Eventually, Wasps would only allow the Club to stay if it traded all its access to the Academy match pitch at the Higgs Centre (apparently as part of the developments of Wasps' new £7m training ground) in exchange for continuing its tenancy.
Click to expand...

Sneaky if true.
 
Nick

Nick

Administrator
Read most of it.

Will be interesting to see the comebacks from other sides from it.

Crucially Seppala said SISU will drop all legal action against Coventry City Council IF

  • Councillors support a brand new stadium development within the city "on reasonable terms" and
  • They can agree a deal with Wasps to stay at the Ricoh Arena until the new stadium is completed.
Click to expand...

On the face of it, not unreasonable. Maybe the council should call their bluff now then?

They have said often they will help with things if the legals are dropped, it's now been said officially.

So, council now just say "of course, we will help with what we can within reason on a development in the city on reasonable terms"....

Duggins has been saying all along he wont do anything without the legals dropped, perfect chance to call them out on it.
 
cc84cov

cc84cov

Well-Known Member
Tbh I think the new ground,land etc part is bullshit they never wanted a new ground they want the Rioch how long have we been hearing about this new land new stadium crap but they have to add that part as fisher has been banging on about it for how ever long.
 
Terry Gibson's perm

Terry Gibson's perm

Well-Known Member
I was surprised that the Higgs “charity” had loaned the club money to buy players.
 
Nick

Nick

Administrator
SISU has progressed to heads of terms on several occasions but, it has not been possible to finalise a new development because:

  • The EFL rules restrict its geographical location
  • There are political challenges for any potential seller given they would be seen as supporting SISU and sitting opposite the Council
  • The Council itself is the planning authority and its impartiality is questionable in the context of the current acrimonious relationship
  • The strong animosity against SISU appears to have influenced negotiations at every turn.
SISU is still hopeful that the Council will work with SISU to progress the development of a new stadium.
Click to expand...

A couple of those have shown to be true so far, does look like an olive branch.

Interesting to see the replies from the Council.
 
oldskyblue58

oldskyblue58

CCFC Finance Director
It is their side of the story certainly.

Contradicts other accounts, omits the judgements in court, provides claims but no proof, puts out figures that are not supported by filed public documents, twists some of the claims made against them. Does produce the odd snippet like the academy that it would be good to have explained. Although it would seem they are not averse to using similar tactics.

Basically not our fault it's everybody else Guv ... No recognition of their own mistakes or short comings at all

Knock yourselves out analysing it but it has provided very little for me and certainly does not move the club forward... More at risk if anything. Not going to help resolve the current problem at all
 
skybluegod

skybluegod

Well-Known Member
Just finished reading it all.

I think this is the first time we have been able to see a balanced argument (by providing the other side) . On the face of it Sisu, have been shafted by the council and ACL for years. Now i don't believe that it is all the councils fault and Sisu could have handled a lot of this better, but clearly there does seem to be some type of council Vendetta against CCFC/Sisu, which needs to end in the interest of the taxpayers (fans), if there are reasonable locations for a stadium, then why should we not be allowed to build and own a home of our own? If wasps can (as they claim) survive without us, then surely the increase in revenue and the redevelopment of an area of Coventry isn't a bad thing?

As others have said if SISU are spouting more shit, then the council need to call their bluff now. No media arguments or PR campaigns. Just say they will negotiate in good faith on the premise of the above statement.
 
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