What do people want the FA / EFL to do? (1 Viewer)

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Nick

Nick

Administrator
Loughborough Sky Blue said:
When SISU took the club over, they took on all the existing debt, which we continued trying to pay (along with all the interest and 'administration fees' added onto it). Had we gone into administration, the administrator would've invited offers from any interested parties (which more than likely would've been several different people/consortiums, as we were a half decent championship side at the time, with an option to buy half of ACL for a relatively cheap price). Those offers would've been similar to the ones the like of Leicester made when they went into admin, paying off anywhere from 1-10p in the £ of the debt - thus potentially leaving us completely debt free and with half a stadium for not a huge amount of money. from there we may have progressed up the league, or at least been able to negotiate a similar deal as Wasps for the remainder of the Ricoh.
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When SISU came in there was no interest at all to do a deal about the Ricoh else it wouldn't have been SISU who came in.
 
L

Loughborough Sky Blue

Well-Known Member
Nick said:
When SISU came in there was no interest at all to do a deal about the Ricoh else it wouldn't have been SISU who came in.
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There may not have been any interest publicly at the time, but the club held an option to buy back the Higgs share for (if I recall correctly) £6m. Had someone picked us up cheap from an administrator, it's likely they would've exercised that option, and perfectly plausible that in the long run they would've negotiated the remainder.
 
Nick

Nick

Administrator
Loughborough Sky Blue said:
There may not have been any interest publicly at the time, but the club held an option to buy back the Higgs share for (if I recall correctly) £6m. Had someone picked us up cheap from an administrator, it's likely they would've exercised that option, and perfectly plausible that in the long run they would've negotiated the remainder.
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I meant from the council / ACL side. There was interest from people who wanted the Ricoh too but they had none of it. Hence we ended up with SISU.
 
chiefdave

chiefdave

Well-Known Member
Loughborough Sky Blue said:
There may not have been any interest publicly at the time, but the club held an option to buy back the Higgs share for (if I recall correctly) £6m.
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Higgs paid CCFC £6m for the share, very roughly equally split between cancellation of existing loans owed to Higgs, repayment of loans to CCFC directors and cash. The option to buy back was £10m.
 
COVKIDSNEVERQUIT

COVKIDSNEVERQUIT

Well-Known Member
Westendlad said:
Fecking Ricoh......Life as a cov fan was good till that shit hole was built...
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Should never of sold Highfield Road, got to ambitious and made the mistake of not having all the money to complete the project.

Could of redeveloped Highfield Road, ie build a new stand to replace the West End and fill in the corners.

Would have been a good looking 25K stadium and no SISU.


 
shmmeee

shmmeee

Well-Known Member
I’d like the FA/FL to state early and clearly what the terms are for any move or ground share to help reduce speculation.

I’d like them to facilitate any discussions they can and if it comes to it I’d like some leeway to ensure we aren’t harmed by the actions of our owners and others involved. Not sure what that would look like until concrete circumstances arise, but lossening rules on stadium quality or points deductions rather than relegations is what I mean.

Not sure what else they can do.
 
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