Broken Hearted Sky Blue
Well-Known Member
Did I you all knowing self righteous c-nt ?
Did I you all knowing self righteous c-nt ?You don't welcome people in with open arms if you don't know what they're like though do you?
Well, actually you probably did with Sisu.
Couple of thoughts spring to mind here, why are ACL working with the FL? I can see they'd be in talks with the administrator as they are a creditor and we are led to believe the company in admin holds the lease. But what are ACL talking to the FL about?
Would also be good to have clarification on "Ricoh Arena doors are open to Coventry City" given the confusion at the moment over exactly what Coventry City is. Do they mean anyone the FL decides are in control are welcome and on what terms? The terms of the lease, the terms the last 3 games of the season were played on?
Did I you all knowing self righteous c-nt ?
Didnt say whether I did or didnt unlike other people Im concentrating on the situation now What you did or didnt say or do or what youre doing now I dont care:jerkit:It's amazing the ones who were against Sisu now, probably like the 3 million who attended Woodstock.
You're missing a "u" there as well.
Anyone but SISU and I don't blame them.
Didnt say whether I did or didnt unlike other people Im concentrating on the situation now What you did or didnt say or do or what youre doing now I dont care:jerkit:
The only people killing the club are SISU
but they also saved it so its ok just like it is for council
some people....
say sisu are gone...and new owners are forced to build own stadium because council wont give them big enough piece of pie, will you still stand by council?
I'd like to see ACL's balance sheet on that, build a business around getting 15-20k fans, then having to restructure because your tenants force half away. Sooner or later it'd be best to evict the whole sorry lot and find a new cash cow, or show some sympathy for the misfortunate and offer a new deal to more understanding owners.
I still think the main stumbling block is SISU's V sign to the outstanding rent, and the atitudes of alot of not very business savvy fans who would rather see megabucks go to underperforming players instead of realising there are other bills to pay.
I saw an interesting blog today,that suggested that SISU rental debt to ACL may not be the £600,000 to 1.2 million that has originally been mentioned.That maybe the original lease CCFC took to play at the Ricoh may have been a 50 year lease to guarantee the long term stability of the club,and that SISU inherited that very long lease.So that even though SISU subsequently broke that lease,they maybe still liable to owe/pay the remaining 44 years of the lease.This would equate to approximately them owing SISU about £52.8 million (44 x1.2 million).Which would mean CCFC debts would be over £100 million but that ACL would have a far greater say,on accepting or rejecting any offer to move out of administration.Paying ACL circa 1 million would be something SISU would consider,however I doubt if they would be too keen on paying ACL over £50 million.Maybe that is why ACL have apparently started preparing the pitch for next year,surely they would not wish to take on any unecessary expenditure at this juncture.
They'd have no say - you need 75% of creditors to voluntary exit administration. If that scenario was correct we really would be stuffed.
Agreed but so would SISU,so if and its a big if,the debt to ACL is around £50 million ,SISU would no longer be 75% of the creditors.They'd have no say - you need 75% of creditors to voluntary exit administration. If that scenario was correct we really would be stuffed.
The blog (written by Skybluesquirrel) pointed that out, mentioning that if the debt to ACL is the 600k previously stated, then the three SISU companies would easily meet that 75%.
As you say, if the club is found liable for the rest of the lease (which I guess is up in the air at this point, although nothing has been mentioned by Appleton) then things could get very messy indeed.
May also explain why there is the big PR battle between "they kicked us out" and "we welcome CCFC with open arms".
Whatever the case I'm tired of our football club being itself used as a football by these arseholes (everyone included, not just SISU).
Agreed but so would SISU,so if and its a big if,the debt to ACL is around £50 million ,SISU would no longer be 75% of the creditors.
Agreed but so would SISU,so if and its a big if,the debt to ACL is around £50 million ,SISU would no longer be 75% of the creditors.
Now I like the sound of that!
Can anyone be certain who the Golden Share would be handed to in that situation, especially if the reason for the liquidation was down to the owners of Holdings.Yes, it has been discussed here too.
The way out could be by a creditor voluntary liquidation. The lease is with ltd and if that company cease to exist ACL would have nowhere to go with their claim for the remaining lease.
Of course that require FL hand over the GS to Holdings.
You might not, it might never end with the wrangling!
the rent is too high for a club to pay and flourish, thus why new owners already talked about owning ricoh or doing a new deal
yes sisu agreed to it 5-6 years ago but that dont mean ACL are charging an acceptable figure.
The rent agreement was set at a time when dropping a division wasn't considered, if SISU really wanted to pay a fair rate for being in the third tier then that should have been considered (although I doubt they'd have complained at 1.2m had CCFC returned to the premiership). Of course ACL are the bad guys in this for offering a 2/3rds reduction and 10 years to repay the debt when it was clear SISU wanted out....
Wasnt the rent agreed well before SISU- thats what it said in the Trust Q&A
Reduced rent yes fair enough- but no access to matchday revenue...
The last deal included 80% of matchday f&b revenue (the other 20% is owned by compass). It also included some parking spaces that could be sold on matchday.
The details have been posted on this forum, but I haven't got time now to find them.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?