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How does the club benefit from this?

I wonder if the players can spot each other against the background of the seats.

The playing side will be the lowest for years, but the interest and management charges will be pretty high. I would say it's impossible to get to a reasonable guess of break even.

No idea, I would guess at either 1987, or one of the early years when Sky got involved.

The club have been losing money every year. The club will lose money this year, and the club will lose money every year when they are not in Coventry. When they get to Coventry (area), the club will lose money as they will be paying for the cost of a new stadium (this won't happen soon as they...

Cheap wise cracks, that's a low blow. I guess if ACL could go back in time they would accept lowering the rent, it would be good to see how it would have played out. I think the only option SISU are chasing is the sale of an asset, all their eggs are in the JR case, they need to get hold of...

I'm not sure where your response has come from, I haven't talked about laws being broken.

Maybe they would, but they can't just take over any company they want.

So it's about cashflow, in that case we can go back to saying that we should rent the Ricoh from ACL at the cheap rent (plus match day costs), that will generate a lot of positive cashflow, especially compared to Sixfields. Excellent. Unless of course it's got nothing to do with cashflow. Damn.

How would they acquire ACL or the lease for next to nothing as part of a settlement?

What is this 'football' that you talk of?

I mean that you talk about that having a positive cashflow will lead to SBS&L giving their investors a return, why would it be cashflow, a positive cashflow doesn't necessarily mean you are making any money, so I wondered whether you meant profit. I then went on to make an assertion that you are...

You're completely correct, and if they are somehow gifted ACL then this could work. Now, back in the real world, if SBS&L buy ACL then it is likely that the costs of doing so would be much more than £100k a year. The club would make more money by renting rather than owning, unless they are given...

A positive cashflow, or a profit? Or neither as you are guessing based on nothing?

How much profit would ACL make charging £200k, for 2.5 years? How much profit would SISU make accepting this charge compared to staying in Northampton?

I imagine the lease itself has more value than the £6m quoted earlier.

Who says this is the paper value of ACL?

The ACL loan was to help fund the purchase of the lease. The valuation that is being put about, at varying figures, is about the freehold. Two completely different things, owned by different companies, so has no bearing on any finance ACL may want/need.

I think the next excuse is something about the players can't see each other in front of the blue seats.

If ACL have to repay the loan as a result of any future JR ruling (already some big assumptions here), then I would think they will be in a good position to get funding elsewhere. They may have been repaying a lot of the loan already, does anyone know what the current amount outstanding is...