sky blue john
Well-Known Member
Sisu can't be trusted to pay up and everyone knows they wouldn't be bothered in tying it up in the courts for years !!
Tell me then why this couldn't work if a contract was written up and terms signed.
Sisu can't be trusted to pay up and everyone knows they wouldn't be bothered in tying it up in the courts for years !!
4 letters sisu.
But the £30M would be for the stadium not the complex so they could not use the income. It would be double that for the lot.
Your right though we need to see some offers from SISU and some valuations from ACL/CCC
How many people actually think the Council will sell the Ricoh or even negotiate a new sensible 100year lease to anyone ?
I do nt . I do believe they see it as a cash cow.
Im very anti Sisu, do nt go and wo nt go to Northampton, just away games and want cov back in cov but I ve no time for
the Council.
How many people actually think the Council will sell the Ricoh or even negotiate a new sensible 100year lease to anyone ?
I do nt . I do believe they see it as a cash cow.
Im very anti Sisu, do nt go and wo nt go to Northampton, just away games and want cov back in cov but I ve no time for
the Council.
and maybe .... the casino, the jaguar hall, the hotel, the conference facilities etc all add to the cost.
I disagree, MMM used the King Power as an example which is the best example (Stadia wise) that I can think of which was bought for £17Mil earlier this year. I think £30Mil is probably a good price for the whole complex. If SISU bought out the whole complex they could use the other revenue streams to pay off CCC until they were paid and then benefit from those revenue streams as well as the Arena itself.
You are correct that these figures are available, but you have not given all the relivant costs or additional income within your statment, for example Tesco did pay £45m, but they also contributed another £17m in kind as well as contributions from ERDF of £4.3m, AWM OF £4.8m & £5.9m from the Isle of Capri (for the building costs of the Casino) But that is ancient history, the question is what is the Ricoh worth
So it's not the business acumen it's the trust issues you have with SISU?
You have to realise if things are going to change and we want our club back in Coventry compromises and new slates for negotiation are going to have to be made and trust is going to have to work both ways.
trust issues? you make it sound like a jealous girlfriend who was cheated on in her past by a previous boyfriend and now won't let her boyfriend go to the pub with his mates.
where as a much better analogy is asking the wife who has been beaten 16 times by her husband including a final time involving a knife to get over it and start afresh with him.
There can't be trust with sisu anymore, the bare minimum we should have accepted is for them to be doing what is best for ccfc (which I think the directors are required to do by law) and they aren't doing this. Moving to Northampton was never even close to being in the interests of ccfc, only their owners. so if they aren't doing what is best for ccfc why give them the stadium and risk even greater loss for Coventry, at least now the stadium is owned by someone who wants ccfc in it, can't rely on that if it goes to sisu.
Jaguar Hall isn't much of a building. The Casino is a hole in the ground - Isle of Capri paid for the fit-out. The hotel and conference facilities are now pretty standard in new stadia.
The reason I asked that is because I was accused of having no business acumen because I support SISU (allegedly). You wonder how many times I have to say it before it sinks in to some people, I do not support SISU!!
I agree with your point entirely Noggin, the bare minimum we should expect from SISU is to do the best for our club, there investment. Are they doing this? Unless by moving to Northampton in future years turns out to be a masterstroke (Which I highly doubt) then no. What we need is for the owners of CCFC and ACLto get round the table and fairly negotiate, with a mediator who can remain unbiased to get the best deal for both sides, if then SISU shoot it down then I for one will be hoping they have a fantastic reason for doing so..
That's the impression I got of you and SISU but its based on just gut reaction with me as I cant be bothered with going back through peoples history.
Mind you until this nonsense I understood what SISU were trying to do last year. Shame they have took it too far.
I just wish SISU and ACL were more transparent.
It's incredible that so many have such a
low value of the Ricoh Arena - that explains a lot!
If it's worth 20/30m I think SISU would have bought it long ago and added 10m!
The freehold must be worth somewhere around the 100m mark. As stated the land, the clean up and build etc etc are the total cost.
What the council ended up putting in is a better guide to what the council should seek for it? they 'rescued' the project where others lost their money and the project was completed. Now if the council added 20m then that should be remembered in any valuation, in particular in how it relates to the football club.
Without getting too deep I would guesstimate 60m would be a fair valuation for the freehold interest from the council. But there is a 40 years lease on it which would need to be another part of negotiations and compensation.
I believe the council should hold onto the Arena as a city asset. They should segregate the hotel, conference and casino side of things and sell the 'stadium' to the football club on a 125 years lease. Premium to be determined but somewhere around 15% and 25% of the freehold valuation, say 20m? Rent at peppercorn levels on a full and repairing lease. Job done.
Agreed..
To be honest if being impartial is a SISU Supporter then yup I am a supporter!
Impartial your talking about Sisu being virtually given the Ricoh and you can't understand why Acl won't get round the table !!!!
Maybe if your beloved Sisu wasn't trying to sue them with the JR review then they might be more inclined to get round the table !!!!
How can there be transparency from a secretive hedge fund ?
How can Acl be transparent whilst the JR is going on ?
:claping hands::claping hands::claping
hands::claping hands::claping hands::claping hands::claping hands::claping hands::claping hands:Isn't it nice to hear the classics from time to time..
Some people tend to use sarcasm when they don't like the truth !!
If they sell the stadium separately to the hotels etc as a long lease, then aren't we back where we started with HR? A football stadium with little additional income (I know it's better than our current position of having naff all). . And how can you separate the hotel when the hotel rooms are the corporate boxes?
It cost £54m to build the stadium and a £2.9m over spend. The land cost £24m and £17m to clean it up. Some of the land was sold to Tesco for £45m. That was over 10 years ago and as costs have risen it will cost more now. All these figures are available on the council records for 2005. They are a Public body so have to publish their figures unlike SISU who are a private company.
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