georgehudson
Well-Known Member
this, as a result of a meeting today, or so i've heard
Announcement tomorrow (1 Viewer)
- Thread starter Snozzer
- Start date
dongonzalos
Well-Known Member
Damn you copied my post before I could remove the kisses!
dongonzalos
Well-Known Member
Interesting
It's either SISU spitting their dummy saying they are all ganging up in us.
Or the council, ACL Hoff everyone saying this is what SISU are doing.
dongonzalos
Well-Known Member
A meeting by who?
SkyBlue_Bear83
Well-Known Member
More threats and hot air from one side blaming the other, doubt it will be anything new or significant
Bluegloucester
New Member
This is bullshit!
georgehudson
Well-Known Member
don, just from the info i got, an insurance person & a very interested party,
let's hope it's a positive for CCFC players, & fans
let's hope it's a positive for CCFC players, & fans
kingharvest
New Member
Wonder if its to do with state aid, something I've been wondering for a while
VegetableSamosa
New Member
Somehow SISU have managed to get the Golden Share in the Council and are now running the city. McSheffrey is to see out the rest of his contract as a Bin Man in Bell Green.
sky blue john
Well-Known Member
If its a CT exclusive Joy changes shampoo brand !!!!!
BrisbaneBronco
Well-Known Member
3 possible scenario's
1. The football club is moving out of Coventry
2. Something under hand has been found involving ACL/Council to do with legality of rental agreement.
3. Something under hand has been found involving ACL/Council and possible takeover of CCFC.
Both of these would affect Coventry as a whole and not just the football club and is what Les Reid is hinting at.:thinking about:
1. The football club is moving out of Coventry
2. Something under hand has been found involving ACL/Council to do with legality of rental agreement.
3. Something under hand has been found involving ACL/Council and possible takeover of CCFC.
Both of these would affect Coventry as a whole and not just the football club and is what Les Reid is hinting at.:thinking about:
Lord_Nampil
Well-Known Member
@darryljoemurphy: Morning. So CCFC Holdings are challenging @coventrycc in the High Court for taking on ACL's mortgage from Yorkshire Bank #skyblues
sky blue zam
Member
i cant understand what this has to do with ccfc or sisu. clutching at straws for a final grab at the ricoh?
could this be the final nail in the coffin for us to play at the ricoh
could this be the final nail in the coffin for us to play at the ricoh
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TasmanSeaSkyBlue
Member
Who are who?
kingharvest
New Member
The problem is its a public body providing financial assistance to a company.
Now that in itself is not a problem, but there are rules due to EU competition policy.
I've been questioning whether they they bust state aid rules since they did the bailout.
Ironic given state aid was given as a reason in the whole 'tesco land - £60m - you can't have any' deal
Jim
Well-Known Member
No problem in the slightest. Council have acted to ensure their own investment remains a going concern.
They borrowed money at a lower rate and then sold it to ACL at a higher rate. ACL benefits from lower interest than from Yorkshire Bank, Council benefits as it generates income for them and it hasn't impacted in the slightest on public money.
Shouldn't be anything to do with state aid, as the council is funding a stadium not a football club.
I find it highly ironic that SISU have effectively said in this statement - 'We resent the rightful owners of ACL acting in the correct manner by ensuring the future of their investment. Oh and by the way please can we still take the piss with our rental and income demands, none of which we have a legal right to......'
kingharvest
New Member
bigfatronssba
Well-Known Member
Had the council sold their acl share at a low rate to sisu would that not have being breaking the rules?
kingharvest
New Member
Grey area, mind you state aid is one giant grey area.
Basically if you want to give a company note than €200k over a 3 year period it has to come under a pre approved scheme, or you have to notify the commission and essentially get permission.
But the club are saying the council paid over the market value, that in itself opens up a whole new can of worms.
Basically if you want to give a company note than €200k over a 3 year period it has to come under a pre approved scheme, or you have to notify the commission and essentially get permission.
But the club are saying the council paid over the market value, that in itself opens up a whole new can of worms.
bigfatronssba
Well-Known Member
Wonder how much this will cost the club in legal fees?
S
skyblue2k
Guest
Sisu by doing this, what chance is there of the council or acl dealing with them in future? Is this the last throw of the dice, knowing the golden share is in ccfcl?
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bigfatronssba
Well-Known Member
<p>
Ccfc Holdings hasn't been charged a penny so that argument doesn't work.
Ccfc Holdings hasn't been charged a penny so that argument doesn't work.
chiefdave
Well-Known Member
not sure how significant this detail may be but reading the article it sounds like the council didn't take a loan, they paid out of public money and will in the future (or maybe already have) cover that with a loan. seems a bit dodgy on the face of it, what happens if it turns out they can't get the loan?
does ccfc ltd have to have been charged something for them to be able to put forward a case then ??
cloughie
Well-Known Member
Yes but the difference is that the council are lending, not giving a grant, for the money and making a profit from it. Where as the £60m to give them a share would have been just that giving it away
rupert_bear
Well-Known Member
What difference does this all make to ccfc ltd ? If the Golden Share is found there. Holdings is a seperate company not attached to our football club apparently and even if the court found in favour of sisu they still won't be allowed to buy the Ricoh or half of it. Just easy money for lawyers in my opinion.
SkyBlueBlood
Member
They really don't get it do they, SISU have nothing to bargain with they are not CCFC they are a piss poor operation scraping around trying to make some money out of the mess they have made. They will never be accepted as Coventry City owners as they will never be trusted. The club they acquired in 2007 has gone into administration due to their negligence and is playing lower league football because of their incompetence. They can run along and play in the Shetlands for all I care as Coventry Holdings FC but Coventry City will always be in Coventry as the heart of a football club is where it started and has been for over 100 years and its fans, not based on who has a golden share or a piece of paper.
CJparker
New Member
no shit Sherlock
Baginton
New Member
Maybe if the court agree with SISU, the council will have to take the money back, leaving ACL in the brown stuff, leaving the doorway open for a SISU bid for the stadium,
Or maybe...
Its just SISU giving ACL 's lawyers something to do
