A Question, What happens if...? (1 Viewer)

[jesus-wept]

The council agree to sell the Ricoh to SISU. Have had their meetings with Sepalla and co and reached an agreement, for arguments sake lets say £10million for the council half and then an agreement with the Higgs charity for theirs. What would happen if a third party, perhaps Heskell for example offers a couple of million more and promises to invest in the reconstruction of the surrounding area, a key part of any agreement. My question is, as a community asset and the council bit paid by local tax payers would the council be duty bound to look at or even accept a higher offer and for that matter what would the Higgs charity do if they received a higher offer, it is a charity and getting as much as possible is paramount.
Any thoughts from the many "experts" out there ?

 

[lewys33]

From what PWKH said, and as is reasonable to believe, the council could not just straight up sell to SISU, so yes if a higher offer came in it would have to be considered.

 

[Deleted member 5849]

There'd always be a consideration of what the 'football club' means to a city too, though, not in financial terms so much, but social and identity.

How you quantify that is the difficult thing, but that's where absolute values get murky.

 

[lewys33]

It's a difficult one because SISU may offer less than someone else, but without CCFC at the Ricoh it has to be effecting the local economy! At the end of the day it would be down to the council vote.

 

[Deleted member 5849]

It's a difficult one because SISU may offer less than someone else, but without CCFC at the Ricoh it has to be effecting the local economy! At the end of the day it would be down to the council vote.

Not even the local economy directly.

To get the national (and sometimes worldwide) coverage a football club brings to a place would cost a fair bit if it was a marketing budget.

 

[jas365]

You're talking about 2 different things.

AL and JS are supposed to be negotiationg a deal to buy the freehold i.e. bricks and mortar.

The half share owned by the Higgs Trust is a half share of the 50 year lease, the other half of which is owned by the council. It's this that holds the key to the income streams, NOT the freehold.

If SISU wanted the bricks & mortar, and all the income from the Ricoh, they would have to buy the freehold AND the leasehold.

 

[SkyBlueScottie]

I am not sure thats the case, otherwise why would SISU be pursuing such a deal.

As for the opening post, why would somebody come in and offer a higher amount for a football stadium when they dont have a football team?

 

[sky blue john]

In 2015 the stadium naming rights come up for renewal !!
Ricoh paid 10 million Sisu are obviously not going to want to miss out on that pay day !!!!!

 

[Deleted member 5849]

I am not sure thats the case, otherwise why would SISU be pursuing such a deal.

Well a mundane reason why they want the freehold as well is because they've expressed a view that they can't work with the council, and the council can't work with them, so they want to cut all ties.

The less mundane reasons... well, dealt with here often enough

Regardless you'd need more than just the freehold sorted.

 

[jas365]

I am not sure thats the case, otherwise why would SISU be pursuing such a deal.

As for the opening post, why would somebody come in and offer a higher amount for a football stadium when they dont have a football team?

To be fair 95% of everything SISU have done makes no sense, why change now?

 

[jesus-wept]

As for the opening post, why would somebody come in and offer a higher amount for a football stadium when they dont have a football team?

Because it seems to be the Arena and surrounding land that is the attraction, of course a football team would be a big bonus but what is the attraction a team which costs money, or land which potentially makes money ? I know what we the fans would choose but what would a business man or men choose.

 

[Deleted member 5849]

Because it seems to be the Arena and surrounding land that is the attraction, of course a football team would be a big bonus but what is the attraction a team which costs money, or land which potentially makes money ? I know what we the fans would choose but what would a business man or men choose.

Neither?

 

[RegTheDonk]

Because it seems to be the Arena and surrounding land that is the attraction, of course a football team would be a big bonus but what is the attraction a team which costs money, or land which potentially makes money ? I know what we the fans would choose but what would a business man or men choose.

Begs the question why hasn't Haskel or Byng or someone else come and bid for the Arena, if indeed ACL reckon they can survive without the club. They also presumably are looking at developing the area.

Unfortunately, with CCFC in their pocket and custody of the golden share, SISU/Otium have a trump card that surely must come into play. The question is how long can they keep losing money for, or how long until the league/FA finally show some balls and intervene?

 

[fernandopartridge]

In 2015 the stadium naming rights come up for renewal !!
Ricoh paid 10 million Sisu are obviously not going to want to miss out on that pay day !!!!!

Indeed. Unfortunately the football club who brings about most recognition of the Ricoh name got the square root of fuck all for the last deal.

 

[sky blue john]

It's been mentioned that the freehold provides no revenue. Who gets the naming rights money ?

 

[Astute]

It's been mentioned that the freehold provides no revenue. Who gets the naming rights money ?

Normally the leaseholder. But contracts can change this.

 

[sky blue john]

If the last naming rights went to acl why is their loan still so big ?
Isn't it more likely that 10million went into the stadium build pot ?

 

[Astute]

If the last naming rights went to acl why is their loan still so big ?
Isn't it more likely that 10million went into the stadium build pot ?

Don't start that one off again :laugh:

 

[Grendel]

Indeed. Unfortunately the football club who brings about most recognition of the Ricoh name got the square root of fuck all for the last deal.

That's all part of the deal with the caring sharing council.

 

[torchomatic]

If the last naming rights went to acl why is their loan still so big ?
Isn't it more likely that 10million went into the stadium build pot ?

I wouldnt have thought so. Didnt jag pull out when the stadium was more or less complete anyway?

Sent from my Galaxy S4 using Tapatalk 2

 

[thaiskyblue]

That's all part of the deal with the caring sharing council.

just hand it over to caring sharing sisu then, no problems.

 

[torchomatic]

From what PWKH said, and as is reasonable to believe, the council could not just straight up sell to SISU, so yes if a higher offer came in it would have to be considered.

Liked by mistake!

Anywsy why would/should CCC srll to an entity who don't control the football club?

Sent from my Galaxy S4 using Tapatalk 2

 

[James Smith]

Someone will doubtless correct me if I'm wrong but didn't Ricoh sign an extension to the deal for another 10 years?

 

[kmj5000]

I am not sure thats the case, otherwise why would SISU be pursuing such a deal.

As for the opening post, why would somebody come in and offer a higher amount for a football stadium when they dont have a football team?

Because it is a profitable business proposition even without CCFC , apparently...?

 

[skybluefred]

I am not sure thats the case, otherwise why would SISU be pursuing such a deal.

As for the opening post, why would somebody come in and offer a higher amount for a football stadium when they dont have a football team?

According to Seppala she cannot work with CCC and they cannot work with her. Therefore surely if somebody else
bought the Stadium and surrounding land including the freehold, then they could develop the land and rent the Ricoh to CCFC at a peppercorn rent. Just an idea,don't think for a minute it will happen though.

 

[shmmeee]

Someone will doubtless correct me if I'm wrong but didn't Ricoh sign an extension to the deal for another 10 years?

http://www.coventryobserver.co.uk/2...th-Olympic-name-snub,-insist-Ricoh-34881.html

Yep. Runs out in 2025.

 

[Cheshire Sky Blue]

Begs the question why hasn't Haskel or Byng or someone else come and bid for the Arena, if indeed ACL reckon they can survive without the club. They also presumably are looking at developing the area.

Unfortunately, with CCFC in their pocket and custody of the golden share, SISU/Otium have a trump card that surely must come into play. The question is how long can they keep losing money for, or how long until the league/FA finally show some balls and intervene?

Answer to part 1 of your question, Not very long. Answer to the second part, Shortly after Lord Lucan, Shergar and the Unicorn make an appearance on Chatty Man.:jerkit:

 

[SkyblueBazza]

Begs the question why hasn't Haskel or Byng or someone else come and bid for the Arena, if indeed ACL reckon they can survive without the club. They also presumably are looking at developing the area.

Unfortunately, with CCFC in their pocket and custody of the golden share, SISU/Otium have a trump card that surely must come into play. The question is how long can they keep losing money for, or how long until the league/FA finally show some balls and intervene?

PWKH seemed to be saying that IF &/or when the council says the freehold is up for sale...there's a tendering process & a council vote to decide who gets it. So nobody can officially bid anyhow.

 

[SkyblueBazza]

It's been mentioned that the freehold provides no revenue. Who gets the naming rights money ?

Although it provides no revenue...it's an asset that will rocket in value once a proper economic recovery gets a full head of steam.