She doesn't. She wants to secure the asset in order to sell it and maximize their return in an exit strategy.
All the 'value-added' cash won't go to the team, the academy, the backroom staff, the fans or the taxpayers of Coventry - it'll be doubtless routed to the Cayman Islands; with a nice big bonus for Fish Boy, for pulling this one off.
Yes, the football team and it's venue need to be unified for so many reasons; but these owners have shown contempt for the game, our club, the city and it's fans at every turn.
Any new owners may not be any better. There aren't many worse in league football, but that's no guarantee we wouldn't sink to an every new low. But if the Ricoh were to be 'given' to someone, I'd rather it wasn't SISU, or one of it's many manifestations.
But if you genuinely believe that Joy Seppala cares one iota about getting a better team on the pitch; well, sorry dear chap, you've sprinkled narcotics and not sugar on your Corn Flakes this morning
It's amazing reading some of the comments on here "we cannot in any circumstance allow Joy Seppela to get her hands on that Ricoh Arena", "Thats what its all about and SISU attitude is bollocks to the fans and the city we want the Ricoh and if we do not get it we are moving out !!! imho".
Nobody wants to move to Northampton or move into a "tinpot" stadium that SISU build, but the moment it's mentioned that Joy Seppala (SISU) wants to invest in the Ricoh people are still throwing there arms up in the air. SISU aren't leaving like most of us want them too, put the past aside, if they can negotiate this with ACL, then this is good for the club.
Sorry if I've missed this, but when are these talks taking place? Today?
Sweet, you'll need to keep me updated from Saturday onwards palflying out sat morning
But what's the difference between wanting to invest in ownership of the Ricoh then building a new stadium? It's only the two fingers to everyone because you feel its SISU, Joy wants to maximise the Club's revenue streams and that improves FFP which means a better team on the pitch and hopefully successful club.
There is no way we are not going to play at the Ricoh, said it from the start. Which is why I ve just enjoyed the closed season rather than running around in circles with my pants on my head
sorry robbo thats complete bollocks. she wants the ricoh and does not give two shits how she gets it!! how many times have we had an embargo ?? or is that to help put a better team on the pitch and benifit the club ? did the refuse to invest in the team and get us relegated? or was that best for the club. she is all about making a profit for her investors and not losing face she will destroy the club before backing down or leaving CCFC!!
There is no way we are not going to play at the Ricoh, said it from the start. Which is why I ve just enjoyed the closed season rather than running around in circles with my pants on my head
This is what Hedgefunds are all about Sub, like it or not that's what we have. We have had an Embargo a few times, yes I admit that, however with regards to the Embargo and the revenue this is just it, if they can negotiate a deal for the Arena then this would benefit our club. If you don't like it Sub then I am sure you'll approve of our other plans to move Northampton? I would prefer us getting relegated and this crap and getting sorted out then staying in the Championship running more debt up and for this issue to remain sealed in the books of history.
approve to move to northampton ?? we should play in coventry end of story SISU are not fit and proper owners and the FL are to blame for them still being here and agreeing to the sixfields move, i blame appleton for the choice of otium being the preffered bidder for the club everybody knew what was going to happen and its a joke and for the FL to agree to it shows its a complete farce. we were debt free in september according to TF, then 70million debt suddenly hits the club its a complete and utter disgrace. no books handed in for two years? why would that be then ? any ideas?? what was it TF said they are in a mess so why would that be then ?? something stinks !!! sisu have some questions to answer and the truth needs to come out before they get ownership of the stadium ( if they ever do) so much for clear and transparent its just lies, bullshit and smoke and mirrors or as tim calls it normal business practice!!!
Didn't someone on here mention a secret meeting was to be held in a post 2-3 days ago?
It is understood Coventry City owners Sisu/Otium have reluctantly agreed to negotiate because they desperately want ACL to sign Mr Appleton’s proposed Creditor Voluntary Arrangement (CVA) to enable the club to exit administration.
The Telegraph understands Coventry City will insist on ACL signing the CVA before there can be any second round of discussions over playing at the Ricoh.
The club desperately wants CCFC Limited to exit administration so that a Football League transfer embargo can be lifted, to enable new players to be signed.
The earliest the club can come out of administration is three weeks into the new season - which starts in ten days - as a 28-day “cooling off” period must follow any CVA agreement.
Mr Appleton has stated the alternative to CCFC Ltd exiting administration via a CVA is liquidation - which could incur a further 15-point League deduction from the club’s 2013/14 Division One campaign.
It is thought ACL is willing to discuss terms over rent payments and who receives matchday revenues - after it previously offered to lower annual rent from £1.3million to £400,000.
Sources believe Ms Seppala will be highly reluctant to enter into any partnership in the Ricoh, or return to being a tenant with ACL or the council as owner.
It is thought she will want 100 per cent ownership of the Ricoh, and that ACL will not want to sell on those terms.
The price of any such sale would also potentially be a major stumbling block.
Ms Seppala seems very keen to have this CVA signed.
If ACL sign the CVA and give up that bargaining chip, I would not be surprised if the "next round" of negotiation involves Ms Seppala telling them "sell us the Ricoh lease for X amount or we move to Northampton" (X = Sisu's value on the stadium if ACL was in a distressed state).
ACL would then have to decide whether to let CCFC go or give up the stadium for a derisory sum.
Assuming this scenario (or something similar) happens and ACL don't give up the Ricoh for Sisu's price, we are left with:
Say no to CVA, killing negotiations and seeing if Sisu to carry out their threat to move to Northampton
Say yes to CVA, say no in negotiations and seeing if Sisu to carry out their threat to move to Northampton
I welcome that they are at least talking, but worry that both sides are not going in with open minds, worry that the article puts in to the public mind a perception of the meeting and its purpose that does not actually exist.
Personally I think this is a meeting that will have at its centre only a rental deal to allow CCFC to play at the Ricoh for the next 10 years - and that BOTH sides are prepared to walk away from it. Key is will BOTH sides compromise to make a deal work ?
However talking currently of a deal for CCFC to play in the Ricoh Arena against Bristol City on Saturday 10th August and beyond, if something can be arranged a rental agreement or a purchase of a stake in the Arena itself would be ideal for this Football Club, better than moving to Northampton and better for the City of Coventry and it's fans, 100%. Forget the SISU crap, for now we have to ensure this club plays within the confines of the City of which it takes it name and that we hold dearly. Getting SISU out can wait as long as we are playing at the Ricoh.
Isn't this statement a little ambiguous; I would have thought that once SISU have their teeth into the Ricoh they would be be a lot harder to get rid of.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?