£6-7m sale price? (1 Viewer)

[torchomatic]

Ooh, Grendel won't like that.

I have consistently said our future lies at the Ricoh and he's always maintained he would rather we played miles away with temporary stands at a non league ground.

This Port Vale chairman does make a lot of sense and it is rational. You will hardly find a single City fan anywhere who believes a new stadium will be built.

At the moment all we have is the Ricoh and that's it.

Yes, it's a good article and echoes comments from many fans: stupid to leave HR, stupid to agree to an unsustainable rental model and CCC have to take their share of the blame.

 

---

[Otis]

Yes, it's a good article and echoes comments from many fans: stupid to leave HR, stupid to agree to an unsustainable rental model and CCC have to take their share of the blame.

They do, Torch for sure.

 

[martcov]

The millionaire says City’s problems started before Sisu took over the club and that the club “sold its soul” when it left Highfield Road and that the deal to play at the Ricoh Arena without matchday revenue was “crackers”.

“Unless you have a football club that is delivering both on the pitch and in terms of sitting in the stadium, and everyone has a collective aim, then no-one is going to buy it,” said the life-long City fan who points to the potential of the club highlighted by the 27,000 who turned up for the Sky Blues return to the Ricoh Arena from their Northampton exile.

“One thing I can guarantee is that working against the club won’t help in the long term because you won’t get the right person to come along to acquire it.

“There needs to be a concerted effort by the football club and the fanbase to both try to improve the fortunes on the pitch to help the revenues, because it means more people coming to watch, and demonstrate how big and great the club is to a third party prospective purchaser.
“For those that went to the Gillingham game when they returned to the Ricoh – what a fabulous occasion and atmosphere and game and that’s what you need to have to put the emotion into someone to actually write a cheque to buy the club.”

The Vale chairman believes City’s problems are historical.

“You have to look at the bigger picture and go back to 2005, and the decision made three or four years before that to get rid of Highfield Road,” he said.

“I remember when City beat Derby County 6-2 in the last game and it saddened me then that the then directors had sold their soul to the Devil, selling Highfield Road for development. I always thought that Coventry lost it’s community identity the minute they did that.

“I think fans have to go back to that decision.”

Smurthwaite says Coventry City Council must shoulder some of the blame for the club’s demise as politicians have “let the club down”.

“When you look at the splendid work that’s gone on in the city regarding regeneration or property and the area, I think the politicians have let the club down,” he said.

“I don’t think they understand the value of what the football club, which is a community club, does and they really haven’t made the right decisions over the last few years in relation to the club and the Ricoh. And those two things have contributed to the demise of the club and that was quite a few years from where we are now.

“Whoever signed off the deal to play at the Ricoh with no matchday revenue must have been crackers because without that third party income you can’t actually run a business.

I think most people agree with that.

Most people also want SISU to leave now as they don't seem to have a plan to get us out of this mess. They are holding out ( as far as we can judge ) in the hope that something happens - Wasps go tits up, they win one or more JRs or some idiot comes and gives them their investment back.

None of which is likely.

 

[clint van damme]

Is that on the comments? My work PC blocks the comments so I can't see those.

you don't know what a blessing that is!

 

[oldskyblue58]

Just to be clear as to what I did say

The club itself has no value as OEG t/a CCFC( - £1) what would need to be cleared in any deal is the debt due to ARVO. The capital outstanding is £8m plus rolled up interest. ARVO hold a charge over all assets of OEG Ltd and SBS&L. Could ARVO be cleared by 5 or 6m possibly, it depends on how keen they are to get out, or whether the news of Ryton gives them a prospect of a better return further down the line. The sticking point is ARVO not SISU but it would seem both are managed by Coleman & Seppala

other stuff

The Ryton land is as far as I know still owned by OEG and covered/charged to ARVO to secure the loans. It would require ARVO agreement to transfer that land to another entity even if it was an entity owned by SISU. It does not have planning permission yet so its value is current use at the moment. I would think that moving the Ryton ground out of OEG would significantly devalue the worth of CCFC. You can not have a professional football club without training ground arrangements - if they sold Ryton they have to buy a new ground or rent one, both options would lead to debt and increased overhead which affects cash flow profitability and worth.

I understand where Smurthwaite is coming from. You wouldn't offer it all up front if you were buying the shares in a normal situation, there would be long term income contracts, player assets, training ground arrangements etc etc that add worth. I query whether you buy the shares at all. If I was advising a client on buying this I would be looking for a one off payment and a clean break. I would seek to acquire the assets and the football liabilities and work with FL/FA to put it all in CCFC 2016 ltd. There is no way I would want ARVO/SISU anywhere near, no way I would want the ARVO (or any SISU related) charge to continue, no way I would want the preference shares, no way I would want the Sconset debt. But that would all be pretty much a deal breaker I would think, as would be the offer which would be £2m tops. I accept you have give some encouragement of perhaps a little now and more later in a normal situation. But is this a normal set up, doesnt a normal club have more than an internet presence ? Why would you pay a premium to get rid of SISU - its they who are in the hole not the potential buyers. Why would you pay them a reward for you turning it around when they have been abject and created the mess. People forget its not just about buying the club it is also about providing the working capital that follows. Got to take emotion out of it

You would not want to buy SBS&L and the only important creditor outside normal operations in OEG is ARVO. Sorry but anyone coming and looking at CCFC will have to hold their nerve and play a longer game - sorry guys but that means more heartache for the supporters, you have to play hardball because JS & co will look for weakness to drive a better bargain. Apparently according to some we are near break even, but that isn't break even is it, so there will be pressure for further funding, disposal of players etc which of course drives down overall business value and puts pressure on someone willing/needing to sell. SISU can probably just sit there, providing no more funding, but with the increase in player costs the lack of income solutions, lack of medium term security that is going to mean further decline for CCFC and the prospect of even smaller investor return - that would be their (SISU) choice

Just a thought 2008 SISU acquired the net assets less liabilities of CCFC for £570k cash then in 2013 Otium purchased the total assets of the club for £1.5m plus took on the football debts why in heavens name given the further decline, lack of assets, the fact we still don't make profits or breakeven would you even think about paying millions to acquire it. JS - well actually SBS&L or the ARVO/Sconset investors, might think they need more to go but that's their problem not a buyers problem and it is not going to happen.

As for them putting in £60m - we have been through this a number of times - they haven't. The SBS&L Group accounts show they haven't

I think nearly all of us agree with Smurthwaite on the building of a new stadium and how the original deal was set up.

The worry of course is that they (SISU) find a way to extract the development value of Ryton and go before providing similar standard facilities for the club. Anyone serious about progressing the club will want/expect decent training facilities. Ryton or its equivalent replacement is removed from this then CCFC is all but dead

Its all very well saying it would take 10m or 15m to keep JS happy for her to go , that actual value is irrelevant, but from a buyers point of view it is about what worth you get for £10m and the on going commitment they sign up for, they wont care if JS is happy or not. It can not be an emotional purchase but it must be an emotional commitment to the future from the get go

 

[Captain Dart]

Just to be clear as to what I did say

The club itself has no value as OEG t/a CCFC( - £1) what would need to be cleared in any deal is the debt due to ARVO. The capital outstanding is £8m plus rolled up interest. ARVO hold a charge over all assets of OEG Ltd and SBS&L. Could ARVO be cleared by 5 or 6m possibly, it depends on how keen they are to get out, or whether the news of Ryton gives them a prospect of a better return further down the line. The sticking point is ARVO not SISU but it would seem both are managed by Coleman & Seppala

other stuff

The Ryton land is as far as I know still owned by OEG and covered/charged to ARVO to secure the loans. It would require ARVO agreement to transfer that land to another entity even if it was an entity owned by SISU. It does not have planning permission yet so its value is current use at the moment. I would think that moving the Ryton ground out of OEG would significantly devalue the worth of CCFC. You can not have a professional football club without training ground arrangements - if they sold Ryton they have to buy a new ground or rent one, both options would lead to debt and increased overhead which affects cash flow profitability and worth.

I understand where Smurthwaite is coming from. You wouldn't offer it all up front if you were buying the shares in a normal situation, there would be long term income contracts, player assets, training ground arrangements etc etc that add worth. I query whether you buy the shares at all. If I was advising a client on buying this I would be looking for a one off payment and a clean break. I would seek to acquire the assets and the football liabilities and work with FL/FA to put it all in CCFC 2016 ltd. There is no way I would want ARVO/SISU anywhere near, no way I would want the ARVO (or any SISU related) charge to continue, no way I would want the preference shares, no way I would want the Sconset debt. But that would all be pretty much a deal breaker I would think, as would be the offer which would be £2m tops. I accept you have give some encouragement of perhaps a little now and more later in a normal situation. But is this a normal set up, doesnt a normal club have more than an internet presence ? Why would you pay a premium to get rid of SISU - its they who are in the hole not the potential buyers. Why would you pay them a reward for you turning it around when they have been abject and created the mess. People forget its not just about buying the club it is also about providing the working capital that follows. Got to take emotion out of it

You would not want to buy SBS&L and the only important creditor outside normal operations in OEG is ARVO. Sorry but anyone coming and looking at CCFC will have to hold their nerve and play a longer game - sorry guys but that means more heartache for the supporters, you have to play hardball because JS & co will look for weakness to drive a better bargain. Apparently according to some we are near break even, but that isn't break even is it, so there will be pressure for further funding, disposal of players etc which of course drives down overall business value and puts pressure on someone willing/needing to sell. SISU can probably just sit there, providing no more funding, but with the increase in player costs the lack of income solutions, lack of medium term security that is going to mean further decline for CCFC and the prospect of even smaller investor return - that would be their (SISU) choice

Just a thought 2008 SISU acquired the net assets less liabilities of CCFC for £570k cash then in 2013 Otium purchased the total assets of the club for £1.5m plus took on the football debts why in heavens name given the further decline, lack of assets, the fact we still don't make profits or breakeven would you even think about paying millions to acquire it. JS - well actually SBS&L or the ARVO/Sconset investors, might think they need more to go but that's their problem not a buyers problem and it is not going to happen.

As for them putting in £60m - we have been through this a number of times - they haven't. The SBS&L Group accounts show they haven't

I think nearly all of us agree with Smurthwaite on the building of a new stadium and how the original deal was set up.

The worry of course is that they (SISU) find a way to extract the development value of Ryton and go before providing similar standard facilities for the club. Anyone serious about progressing the club will want/expect decent training facilities. Ryton or its equivalent replacement is removed from this then CCFC is all but dead

Its all very well saying it would take 10m or 15m to keep JS happy for her to go , that actual value is irrelevant, but from a buyers point of view it is about what worth you get for £10m and the on going commitment they sign up for, they wont care if JS is happy or not. It can not be an emotional purchase but it must be an emotional commitment to the future from the get go

Yup, I think any buyers are just waiting for SISUs investors to tell Joy to get whatever she can and get out of it so they can buy the club free of any debt or obligation to SISU. If CCFC posts another loss that might just do it. The notion that the club should be purchased for £6-7M isn't realistic a buyer might put in maybe up to £1M to get rid of SISU but no more, another £5M will be needed to run the club over the next few years in a way that has a good chance of promotion.

I wonder what Smurthwaites angle is, it could be simply that he is from Coventry and feels compelled to say something but then again he is a serious business person and may be connected to a consortium that wants to buy City. Another mystery..

 

[COVKIDSNEVERQUIT]

Just to be clear as to what I did say

The club itself has no value as OEG t/a CCFC( - £1) what would need to be cleared in any deal is the debt due to ARVO. The capital outstanding is £8m plus rolled up interest. ARVO hold a charge over all assets of OEG Ltd and SBS&L. Could ARVO be cleared by 5 or 6m possibly, it depends on how keen they are to get out, or whether the news of Ryton gives them a prospect of a better return further down the line. The sticking point is ARVO not SISU but it would seem both are managed by Coleman & Seppala

other stuff

The Ryton land is as far as I know still owned by OEG and covered/charged to ARVO to secure the loans. It would require ARVO agreement to transfer that land to another entity even if it was an entity owned by SISU. It does not have planning permission yet so its value is current use at the moment. I would think that moving the Ryton ground out of OEG would significantly devalue the worth of CCFC. You can not have a professional football club without training ground arrangements - if they sold Ryton they have to buy a new ground or rent one, both options would lead to debt and increased overhead which affects cash flow profitability and worth.

I understand where Smurthwaite is coming from. You wouldn't offer it all up front if you were buying the shares in a normal situation, there would be long term income contracts, player assets, training ground arrangements etc etc that add worth. I query whether you buy the shares at all. If I was advising a client on buying this I would be looking for a one off payment and a clean break. I would seek to acquire the assets and the football liabilities and work with FL/FA to put it all in CCFC 2016 ltd. There is no way I would want ARVO/SISU anywhere near, no way I would want the ARVO (or any SISU related) charge to continue, no way I would want the preference shares, no way I would want the Sconset debt. But that would all be pretty much a deal breaker I would think, as would be the offer which would be £2m tops. I accept you have give some encouragement of perhaps a little now and more later in a normal situation. But is this a normal set up, doesnt a normal club have more than an internet presence ? Why would you pay a premium to get rid of SISU - its they who are in the hole not the potential buyers. Why would you pay them a reward for you turning it around when they have been abject and created the mess. People forget its not just about buying the club it is also about providing the working capital that follows. Got to take emotion out of it

You would not want to buy SBS&L and the only important creditor outside normal operations in OEG is ARVO. Sorry but anyone coming and looking at CCFC will have to hold their nerve and play a longer game - sorry guys but that means more heartache for the supporters, you have to play hardball because JS & co will look for weakness to drive a better bargain. Apparently according to some we are near break even, but that isn't break even is it, so there will be pressure for further funding, disposal of players etc which of course drives down overall business value and puts pressure on someone willing/needing to sell. SISU can probably just sit there, providing no more funding, but with the increase in player costs the lack of income solutions, lack of medium term security that is going to mean further decline for CCFC and the prospect of even smaller investor return - that would be their (SISU) choice

Just a thought 2008 SISU acquired the net assets less liabilities of CCFC for £570k cash then in 2013 Otium purchased the total assets of the club for £1.5m plus took on the football debts why in heavens name given the further decline, lack of assets, the fact we still don't make profits or breakeven would you even think about paying millions to acquire it. JS - well actually SBS&L or the ARVO/Sconset investors, might think they need more to go but that's their problem not a buyers problem and it is not going to happen.

As for them putting in £60m - we have been through this a number of times - they haven't. The SBS&L Group accounts show they haven't

I think nearly all of us agree with Smurthwaite on the building of a new stadium and how the original deal was set up.

The worry of course is that they (SISU) find a way to extract the development value of Ryton and go before providing similar standard facilities for the club. Anyone serious about progressing the club will want/expect decent training facilities. Ryton or its equivalent replacement is removed from this then CCFC is all but dead

Its all very well saying it would take 10m or 15m to keep JS happy for her to go , that actual value is irrelevant, but from a buyers point of view it is about what worth you get for £10m and the on going commitment they sign up for, they wont care if JS is happy or not. It can not be an emotional purchase but it must be an emotional commitment to the future from the get go

God your good OLDSKYBLUE 58

 

[Kingokings204]

Just to be clear as to what I did say

The club itself has no value as OEG t/a CCFC( - £1) what would need to be cleared in any deal is the debt due to ARVO. The capital outstanding is £8m plus rolled up interest. ARVO hold a charge over all assets of OEG Ltd and SBS&L. Could ARVO be cleared by 5 or 6m possibly, it depends on how keen they are to get out, or whether the news of Ryton gives them a prospect of a better return further down the line. The sticking point is ARVO not SISU but it would seem both are managed by Coleman & Seppala

other stuff

The Ryton land is as far as I know still owned by OEG and covered/charged to ARVO to secure the loans. It would require ARVO agreement to transfer that land to another entity even if it was an entity owned by SISU. It does not have planning permission yet so its value is current use at the moment. I would think that moving the Ryton ground out of OEG would significantly devalue the worth of CCFC. You can not have a professional football club without training ground arrangements - if they sold Ryton they have to buy a new ground or rent one, both options would lead to debt and increased overhead which affects cash flow profitability and worth.

I understand where Smurthwaite is coming from. You wouldn't offer it all up front if you were buying the shares in a normal situation, there would be long term income contracts, player assets, training ground arrangements etc etc that add worth. I query whether you buy the shares at all. If I was advising a client on buying this I would be looking for a one off payment and a clean break. I would seek to acquire the assets and the football liabilities and work with FL/FA to put it all in CCFC 2016 ltd. There is no way I would want ARVO/SISU anywhere near, no way I would want the ARVO (or any SISU related) charge to continue, no way I would want the preference shares, no way I would want the Sconset debt. But that would all be pretty much a deal breaker I would think, as would be the offer which would be £2m tops. I accept you have give some encouragement of perhaps a little now and more later in a normal situation. But is this a normal set up, doesnt a normal club have more than an internet presence ? Why would you pay a premium to get rid of SISU - its they who are in the hole not the potential buyers. Why would you pay them a reward for you turning it around when they have been abject and created the mess. People forget its not just about buying the club it is also about providing the working capital that follows. Got to take emotion out of it

You would not want to buy SBS&L and the only important creditor outside normal operations in OEG is ARVO. Sorry but anyone coming and looking at CCFC will have to hold their nerve and play a longer game - sorry guys but that means more heartache for the supporters, you have to play hardball because JS & co will look for weakness to drive a better bargain. Apparently according to some we are near break even, but that isn't break even is it, so there will be pressure for further funding, disposal of players etc which of course drives down overall business value and puts pressure on someone willing/needing to sell. SISU can probably just sit there, providing no more funding, but with the increase in player costs the lack of income solutions, lack of medium term security that is going to mean further decline for CCFC and the prospect of even smaller investor return - that would be their (SISU) choice

Just a thought 2008 SISU acquired the net assets less liabilities of CCFC for £570k cash then in 2013 Otium purchased the total assets of the club for £1.5m plus took on the football debts why in heavens name given the further decline, lack of assets, the fact we still don't make profits or breakeven would you even think about paying millions to acquire it. JS - well actually SBS&L or the ARVO/Sconset investors, might think they need more to go but that's their problem not a buyers problem and it is not going to happen.

As for them putting in £60m - we have been through this a number of times - they haven't. The SBS&L Group accounts show they haven't

I think nearly all of us agree with Smurthwaite on the building of a new stadium and how the original deal was set up.

The worry of course is that they (SISU) find a way to extract the development value of Ryton and go before providing similar standard facilities for the club. Anyone serious about progressing the club will want/expect decent training facilities. Ryton or its equivalent replacement is removed from this then CCFC is all but dead

Its all very well saying it would take 10m or 15m to keep JS happy for her to go , that actual value is irrelevant, but from a buyers point of view it is about what worth you get for £10m and the on going commitment they sign up for, they wont care if JS is happy or not. It can not be an emotional purchase but it must be an emotional commitment to the future from the get go

Thanks OSB great post.

So is it a case of waiting for sisu to accept they have lost this investment and decide to go?

As if I understood it right it would take 1-2mil to make a clean slate for any potential buyers.

We know there are buyers but it's what sisu want and what the buyers want to pay of course. I do also agree get rid of ryton and forget any buyer. Any buyer will want a training facility and also a ground. Ground won't happen but the training ground is there. Don't sell it for housing for gods sake.

 

[oldskyblue58]

Someone has to convince JS (a very stubborn person from what I know) that its over and the investment is lost. Yes there are buyers out there but they are not going to want to buy in and accept the debts.

The only debt they will want to "buy in" is the football debts and that forms part of the working capital commitment they will need to make so actually is not about what is paid to SBS&L/ ARVO for ownership of CCFC.

Buyers are not going to be fools especially in this CCFC situation, the emotional ones will be scared off as soon as SISU start talking figures, so they will sit and wait. In my opinion £10m+ for JS to go is cuckoo land

 

[Captain Dart]

Thanks OSB great post.

So is it a case of waiting for sisu to accept they have lost this investment and decide to go?

As if I understood it right it would take 1-2mil to make a clean slate for any potential buyers.

We know there are buyers but it's what sisu want and what the buyers want to pay of course. I do also agree get rid of ryton and forget any buyer. Any buyer will want a training facility and also a ground. Ground won't happen but the training ground is there. Don't sell it for housing for gods sake.

Only OK to sell it for housing IF another plot has been bought and a new clubhouse built. A new clubhouse with offices, training rooms, gyms, physio facilities is going to cost at least £1M possibly more!

Someone has to convince JS (a very stubborn person from what I know) that its over and the investment is lost. Yes there are buyers out there but they are not going to want to buy in and accept the debts.

The investors are the only ones who will have sway, she doesn't appear to be able to listen to advice or have any natural common sense.

 

[oldskyblue58]

I would think SISU/ARVO would want as much as possible up front too................ they know how well payment on a time sensitive maybe works.............. they were due to pay certain creditors £6m on promotion to the Premiership ............ worked out well - for SISU didn't it

Of course money up front will discount the total amount that might be offered

 

[oldskyblue58]

Only OK to sell it for housing IF another plot has been bought and a new clubhouse built. A new clubhouse with offices, training rooms, gyms, physio facilities is going to cost at least £1M possibly more!

The investors are the only ones who will have sway, she doesn't appear to be able to listen to advice or have any natural common sense.

Yep there is a cost certainly - fleetwoods training ground cost 6.5m I believe

Who are the investors though? and who controls the investors? Just my opinion but I doubt Sconset bought the original investors out for £28m

 

[Esoterica]

I don't like his idea of tying in payments based on promotion to the Championship. We're going to struggle as it is should that miracle ever happen, without having to write off a portion of the reward.

 

[Kingokings204]

Seems Ryton is being sold or could be as we owe avro ltd 8m and ryton is secured against that debt so I guess if we can't pay arvo their 8m back they have put in then they can legally sell ryton to get that back.

How much is ryton land worth? Whatever it is will be used to pay off and settle arvo debt. And if they do sell it with permission there is literally no reason to stay after that.

found this which explains better than me http://www.coventrytelegraph.net/news/coventry-news/fears-grow-over-coventry-city-3025250

 

[Kingokings204]

So do we just sit and wait OSB? Literally can't do anything until joy and her investors have had enough and willing to take the hit?

 

[Astute]

I don't like his idea of tying in payments based on promotion to the Championship. We're going to struggle as it is should that miracle ever happen, without having to write off a portion of the reward.

But worth every penny if it got rid of SISU

 

[oldskyblue58]

In theory there will be circumstances that allow ARVO to call their loan in. For example the interest that is due is not paid and ARVO decide that they don't want to roll it up again. That means CCFC have a choice ARVO puts them in to administration or Otium sell off Ryton to settle the debt demanded (or at least part of it). Of course that would mean the planning permission was in place so giving it extra value.

What you also need to recognise is that say ARVO are owed £8m plus £2m interest and Ryton raises £7m ........ the ARVO debenture could still stay in place even after talking £7m because ARVO would still be owed the balance

 

[oldskyblue58]

So do we just sit and wait OSB? Literally can't do anything until joy and her investors have had enough and willing to take the hit?

I think as fans we need to feel we are doing something, make our feelings known, that must continue, we have to fight for our club. For that to be seen is as important as going to matches in some ways. But the reality has always been and remains until SISU decide to go, decide they have extracted all possible value from CCFC then they will not leave. Hence why people come on here having spoken with TF saying in their opinion it will take £10m plus for JS to decide to go irrespective of worth. They (SISU) have no plan to exit yet.

Going to get worse I fear

 

[Kingokings204]

In theory there will be circumstances that allow ARVO to call their loan in. For example the interest that is due is not paid and ARVO decide that they don't want to roll it up again. That means CCFC have a choice ARVO puts them in to administration or Otium sell off Ryton to settle the debt demanded (or at least part of it). Of course that would mean the planning permission was in place so giving it extra value.

What you also need to recognise is that say ARVO are owed £8m plus £2m interest and Ryton raises £7m ........ the ARVO debenture could still stay in place even after talking £7m because ARVO would still be owed the balance

I will say it.....We are fucked

 

[Kingokings204]

Could sisu keep the training ground? And sell it to potential buyers as part of the club?

Also it's rugby council isn't? Can't we just ask them nicely to keep the land green belt. Then the fuckers can't build on it.

 

[oldskyblue58]

Could sisu keep the training ground? And sell it to potential buyers as part of the club?

Also it's rugby council isn't? Can't we just ask them nicely to keep the land green belt. They the fuckers can't build on it.

Unless changed recently the land is registered to Otium I think. So at the moment it forms p[art of that company's assets. OEG is supposed to be the club so could form part of the assets to be sold on or part of the underlying value to the shares depending on what is purchased. It doesnt have to be sold if buying the assets but buy the shares and control of it via Otium changes to the purchaser.

RBC have housing targets and that will influence them, but you might find objections from residents etc any way. There will be nothing to stop CCFC fans objecting if they see fit - whether it will be taken notice of is a different matter.

Just my opinion but the factors driving the potential Ryton disposal seem to have very little to do with CCFC. Seems to me that has always been the case in many decisions taken by the "owners" but just my opinion of course

 

[Esoterica]

But worth every penny if it got rid of SISU

To be left with a rented stadium with no concourse revenue, a potentially rented training ground, an outsourced ticket and merchandise set up and any/some of the financial benefit to getting promoted siphoned off to SISU. We need to get rid of SISU but this method is condemning the club to years of obscurity in the absence of silly money to throw at it - I disagree with the 'at any cost' approach. Needs to be a clean break for me without the SISU spectre still hanging over us.

 

[oldfiver]

Was an interesting read this article and interview with the smurf. Personally at the moment Sisu would be lucky to get £6-7m imo. Interesting to see that he says something I mentioned about the investors. They would want out as they aren't making any money on this hedge. You wouldn't want to be the last investor in the pot.

Smurf believes there are potential buyers out there. That is true. The problem is always what Sisu want and actually what the club is worth now.

http://www.coventrytelegraph.net/sport/football/coventry-city-owners-sisu-sell-11973299

This man has claimed to have "sold" Port Vale at least 3 times
He also tells a story he did not know he was buying a football club but a hotel complex - blamed his agent
Would be interested to learn who owns the PV ground - one of the last stories was he was selling the ground, F&B and team seperately

 

[chickentikkamasala]

But of course Sisu/OEG/Otium etc are not CCFC they are separate, so we will be alright

 

[Covstu]

I think as fans we need to feel we are doing something, make our feelings known, that must continue, we have to fight for our club. For that to be seen is as important as going to matches in some ways. But the reality has always been and remains until SISU decide to go, decide they have extracted all possible value from CCFC then they will not leave. Hence why people come on here having spoken with TF saying in their opinion it will take £10m plus for JS to decide to go irrespective of worth. They (SISU) have no plan to exit yet.

Going to get worse I fear

Surely the FA or FL need to step in here if the training facilities could be hived off as part of the debt recovery. Appreciate it 'technically' isn't part of CCFC as SISU have moved those chess pieces elsewhere on the board but as you previously stated CCFC cannot exist without a training facility and therefore surely this makes them unfit owners?? Clearly they will not step in until after the horse has bolted and by then its all too late but you would think its within their power to intervene??

 

[oldfiver]

This Port Vale chairman does make a lot of sense and it is rational.

Not a common thought around Burslem

 

[oldfiver]

Surely the FA or FL need to step in here if the training facilities could be hived off as part of the debt recovery. Appreciate it 'technically' isn't part of CCFC as SISU have moved those chess pieces elsewhere on the board but as you previously stated CCFC cannot exist without a training facility and therefore surely this makes them unfit owners?? Clearly they will not step in until after the horse has bolted and by then its all too late but you would think its within their power to intervene??

They cannot sell without alternate facilities in place - Sport England and FL have said this
There is no sale or sign of one. It was only putting a stake in the ground for the local strategy plan
I am sure if Simon wanted to he would report this as such so the question is - Why won't he?

 

[Kingokings204]

Surely the FA or FL need to step in here if the training facilities could be hived off as part of the debt recovery. Appreciate it 'technically' isn't part of CCFC as SISU have moved those chess pieces elsewhere on the board but as you previously stated CCFC cannot exist without a training facility and therefore surely this makes them unfit owners?? Clearly they will not step in until after the horse has bolted and by then its all too late but you would think its within their power to intervene??

But when sisu put a few benches and a bag of balls on Allesley or memorial park that will show the FL that they care and are providing other suitable facilities upon selling Ryton, don't worry

 

[Covstu]

They cannot sell without alternate facilities in place - Sport England and FL have said this
There is no sale or sign of one. It was only putting a stake in the ground for the local strategy plan
I am sure if Simon wanted to he would report this as such so the question is - Why won't he?

but what qualifies for being suitable, Wasps trained at Broadstreet RC so would that be suitable? The move devolves the club to a non league team and surely they need to step in and stop that?

 

[Astute]

To be left with a rented stadium with no concourse revenue, a potentially rented training ground, an outsourced ticket and merchandise set up and any/some of the financial benefit to getting promoted siphoned off to SISU. We need to get rid of SISU but this method is condemning the club to years of obscurity in the absence of silly money to throw at it - I disagree with the 'at any cost' approach. Needs to be a clean break for me without the SISU spectre still hanging over us.

Yes we need a clean break. But SISU won't go without payment. So I would prefer a lower payment and money remaining to invest in us getting promotion and then another payment than a large payment and no money left to invest to help getting promotion.

 

[oldfiver]

but what qualifies for being suitable, Wasps trained at Broadstreet RC so would that be suitable? The move devolves the club to a non league team and surely they need to step in and stop that?

You know and I know there are codified regulations on this
They cannot stop something that is not happening - so they do not have to

 

[Nick]

I am sure if Simon wanted to he would report this as such so the question is - Why won't he?

Because it doesn't get people as angry as saying it is for sale for houses?

 

[Covstu]

You know and I know there are codified regulations on this
They cannot stop something that is not happening - so they do not have to

I hope your right but I bet they have a monumental plan of fucking us over before leaving....

 

[oldfiver]

Because it doesn't get people as angry as saying it is for sale for houses?

Careful you will be distracting people away from the intended CT distraction!

 

[oldfiver]

I hope your right but I bet they have a monumental plan of fucking us over before leaving....

That's what the CT want you to think!