What are the options (1 Viewer)

[stupot07]

Higgs paid 4 million for half the stadium ?

so the stadium is worth 8 million ?

Higgs don't own half the stadium, they own half of ACL who have a 43/44 year lease agreement for the Ricoh. The council own the stadium.

I believe that ACL paid £20m upfront for the 50 year lease, and took out a loan/mortgage for the money - the money didn't come from Higgs or the council.

 

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[Jack Griffin]

The £20M came from the Yorkshire Bank.

http://www.ybonline.co.uk/business/...leases/yorkshire-bank-coventry-announces-deal

 

[PWKH]

In December 2003 there were a series of linked agreements and contracts follwoing the Council meeting that October. The effect of these was that the Arena was built. CCFC sold its share in ACL to the Higgs Charity for £6.5m. The parties signed the development agreement that allowed the contracts with Laing O'Rourke to be signed. ACL signed an agreement to lease. There have been many estimates as to the value of the Arena. There is often a muddle. There are two different things: the land and building and the lease of that building and land. The freehold is owned by the City Council and the lease is owned by ACL. The loan taken out by ACL was to pay a lease premium, in other words an advance payment on the rent which is paid by any leaseholder. That payment, of course helped the City Council meet the construction cost of the Arena.

I am afraid that Fletcher didn't "do" detail but just sold big pictures and so his memory is often faulty, and of course, he wasn't actually involved in any of this.

 

[valiant15]

If you sell any part of the arena to these financial terrorists then its your brains that are faulty. You will be letting the people of this city down.

 

[Wrenstreetcarpark]

Joy Seppala is obviously an evil witch and is trying to cast spells and cantrips that blind everyone to the essential evil of her "event based hedge fund". She has created the event: the relegation and financial catastrophe that now faces the Club and now she wants her blood, the profit from misery that such "events based hedge funds" feed off.

We need more than garlic to keep her away.

 

[dongonzalos]

In December 2003 there were a series of linked agreements and contracts follwoing the Council meeting that October. The effect of these was that the Arena was built. CCFC sold its share in ACL to the Higgs Charity for £6.5m. The parties signed the development agreement that allowed the contracts with Laing O'Rourke to be signed. ACL signed an agreement to lease. There have been many estimates as to the value of the Arena. There is often a muddle. There are two different things: the land and building and the lease of that building and land. The freehold is owned by the City Council and the lease is owned by ACL. The loan taken out by ACL was to pay a lease premium, in other words an advance payment on the rent which is paid by any leaseholder. That payment, of course helped the City Council meet the construction cost of the Arena.

I am afraid that Fletcher didn't "do" detail but just sold big pictures and so his memory is often faulty, and of course, he wasn't actually involved in any of this.

Thank you.

This is the type of information that fans need and deserve in order to make informed decisions.

It is a real shame we can't obtain the same information from sisu. Regarding the finances of the club again to make some informed decisions. They never know we may actually agree with their actions. Once we have the information.

PWKH, this reply is greatly appreciated

 

[Jack Griffin]

Joy Seppala is obviously an evil witch and is trying to cast spells and cantrips that blind everyone to the essential evil of her "event based hedge fund". She has created the event: the relegation and financial catastrophe that now faces the Club and now she wants her blood, the profit from misery that such "events based hedge funds" feed off.

We need more than garlic to keep her away.

We have a limited time to escape the Seppala relegation horizon, or we will be being sucked down into non-league then finally out of existence...

 

[shmmeee]

Thank you.

This is the type of information that fans need and deserve in order to make informed decisions.

It is a real shame we can't obtain the same information from sisu. Regarding the finances of the club again to make some informed decisions. They never know we may actually agree with their actions. Once we have the information.

PWKH, this reply is greatly appreciated

Correct me if I'm wrong PWKH, but isn't the price Higgs paid irrelevant and there is a secret formula used to work out the price the club must pay to get that half back? And that deal, allegedly, runs out in 2014 after which it's market value?

I know you can't disclose the formula itself, but I though that was public knowledge.

 

[shmmeee]

That's made me think about payments to ex managers as well

Well you stop payingoncethey get a job so going back, the following would not get anything from us:

Boothroyd
Coleman
Dowie
Adams

So I doubt we're paying any ex managers