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  1. chiefdave

    Fisher on new stadium

    But if you make the loan repayment part of the sale you remove that options. So instead of paying £6m whoever purchased ACL paid £20m and cleared the loan. If they then needed to replace that finance with a third party that's their own problem and doesn't involve the council or taxpayers money...
  2. chiefdave

    Fisher on new stadium

    I would suggest that in the event of ACL being sold a condition of the sale, to either Wasps or SISU, should have been immediate repayment of the loan. If, as we were told in the JR, other lenders are happy to give finance on a similar basis why not make use of that and remove the risk to the...
  3. chiefdave

    Auditors query Coventry City FC as a going concern

    Theoretically you do it by adding value and / or smoothing the planning process. That could be through building retail outlets that are then leased or something similar, that income is offset against the cost of the stadium build. It works in theory but we're not in the best climate for...
  4. chiefdave

    Auditors query Coventry City FC as a going concern

    We certainly did, and as Tony said we had a shop in West Orchards for many years. Think that closed down as they were losing a fortune as the majority of the sales were still being made at the shop at the ground. Can't see us opening our own shop in the city centre but there must be shops run...
  5. chiefdave

    The Ricoh

    I can vaguely remember a game against Wimbledon, must have been late 80s or early 90s. It was terrible weather and the ground was about a third full. At one point it was hailing so much into the kop that people had to turn their backs to the game. It was a dreadful game and if memory serves me...
  6. chiefdave

    Auditors query Coventry City FC as a going concern

    Everything is a what if hence why I keep suggesting all options should be fully explored to establish the best route forward. You say anyone building a new ground would not accept £100K a year rent after putting millions into a build, aren't Wasps in essentially the same situation?
  7. chiefdave

    The Ricoh

    Funny how that always seems to happen.
  8. chiefdave

    The Ricoh

    For the club to purchase or a third party? Did any of them actually get purchased?
  9. chiefdave

    Fisher on new stadium

    According to CCC there was no financial issues for ACL as a result of us playing in Northampton so why not? They could of course have had Wasps playing there as tenants rather than outright selling the ground to them. Because the offer from SISU directly correlated with Higgs stated charitable...
  10. chiefdave

    Auditors query Coventry City FC as a going concern

    You're making the assumption SISU fund the thing up front. Look at the Ricoh build, very little of the build cost was cash from CCC, somewhere in the region of 10% from memory. Apply that to a new ground and the financing on your £25m stadium is £2.5mm and loan repayments of around 10% the level...
  11. chiefdave

    The Ricoh

    I think the excitement and atmosphere was more a case of having something to get excited about which hasn't really happened at the Ricoh. If we had moved to the Ricoh and stormed into the premier league I'm sure we would have a different view. With the benefit of hindsight we should have stayed...
  12. chiefdave

    Auditors query Coventry City FC as a going concern

    The problem is there is absolutely no way you can state that as fact. From what we are led to believe we are paying £100K a year and receive around 50% of certain matchday revenue streams, although there is uncertainly if that is 50% of revenues or 50% of profit. What if we move to a new ground...
  13. chiefdave

    Fisher on new stadium

    No but you know as well as I do Higgs changed the objectives of the charity when SISU suggested working together on the basis of their, at the time, stated objectives. If you're saying the £20m formula price was one we should have paid then presumably you believe that to be a true value. Why...
  14. chiefdave

    Fisher on new stadium

    If they had paid the £20m formula price they would still have had to repay the loan on top of that.
  15. chiefdave

    Auditors query Coventry City FC as a going concern

    That's not what is being argued. The argument is that we are better off staying at the Ricoh on the deal we are on now. That deal will see us bottom end of the championship at best although if you look at Stockport, the only other club in our situation, that would be wildly optimistic. We need...
  16. chiefdave

    Fisher on new stadium

    Which was totally in line with the stated objectives of the charity at the time. It was only when that offer was made that Higgs suddenly decided they were going to become an arts organisation. There are a lot of sticks to beat SISU with, wanting to engage and carry out work in the community is...
  17. chiefdave

    Chesterfield Predictions

    The WMP twitter account usually tweets which pubs are suitable for away fans.
  18. chiefdave

    Auditors query Coventry City FC as a going concern

    It does indeed. Although I have a suspicion that if ACL isn't profitable when our deal is due for renewal we will be expected to pay more in rent. We also know there is no way Wasps are going to give us 365 revenues, and fairly unlikely we will even get all the revenue we generate.
  19. chiefdave

    Fisher on new stadium

    Didn't OSB say Wasps offer wasn't really unconditional, it was just that they had been given access to certain information and the conditional part of our bid was to be given the same access?
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