Announcement tomorrow (1 Viewer)

georgehudson · Apr 22, 2013

this, as a result of a meeting today, or so i've heard

dongonzalos · Apr 22, 2013

cloughie said:
That maybe the case but if so smacks of desperation or just to prolong the issue

Damn you copied my post before I could remove the kisses!

dongonzalos · Apr 22, 2013

skyblue2k said:
@Lesreidpolitics: @skyblues2k @covtelegraph Not suing, but revealing about 1 side's latest tactics. That's all I'll say till 2moro #CCFC #acl

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 · Apr 22, 2013

georgehudson said:
this, as a result of a meeting today, or so i've heard

A meeting by who?

SkyBlue_Bear83 · Apr 22, 2013

More threats and hot air from one side blaming the other, doubt it will be anything new or significant

Bluegloucester · Apr 22, 2013

This is bullshit!

georgehudson · Apr 22, 2013

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

kingharvest · Apr 23, 2013

Wonder if its to do with state aid, something I've been wondering for a while

VegetableSamosa · Apr 23, 2013

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 · Apr 23, 2013

If its a CT exclusive Joy changes shampoo brand !!!!!

BrisbaneBronco · Apr 23, 2013

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:

Baginton · Apr 23, 2013

London Midland have agreed to a second passenger carraige on trains for the Cov - Nuneaton line :thinking about:

Sbarcher · Apr 23, 2013

The council have decided to move the entire city to Rugby.

Lord_Nampil · Apr 23, 2013

@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 · Apr 23, 2013

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

Otis · Apr 23, 2013

As the council has a stake in ACL I can't see what the problem is here.

TasmanSeaSkyBlue · Apr 23, 2013

theprince said:
Who is making the announcement the good guys or the bad guys ?

Who are who?

kingharvest · Apr 23, 2013

Otis said:
As the council has a stake in ACL I can't see what the problem is here.

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 · Apr 23, 2013

Otis said:
As the council has a stake in ACL I can't see what the problem is here.

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 · Apr 23, 2013

Jim said:
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......'

But they aren't funding a stadium, they're funding ACL, a private company.

bigfatronssba · Apr 23, 2013

Had the council sold their acl share at a low rate to sisu would that not have being breaking the rules?

kingharvest · Apr 23, 2013

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.

bigfatronssba · Apr 23, 2013

Wonder how much this will cost the club in legal fees?

skyblue2k · Apr 23, 2013

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?

luwalla · Apr 23, 2013

they ar enot challenging the fact that they brought out the stadium.. they are challenging the amount, as the club believe they overpaid.. that's how i understand it

bigfatronssba · Apr 23, 2013

<p>

luwalla said:
they ar enot challenging the fact that they brought out the stadium.. they are challenging the amount, as the club believe they overpaid.. that's how i understand it

Ccfc Holdings hasn't been charged a penny so that argument doesn't work.

chiefdave · Apr 23, 2013

Jim said:
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.

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?

luwalla · Apr 23, 2013

bigfatronssba said:
<p>

Ccfc Holdings hasn't been charged a penny so that argument doesn't work.

does ccfc ltd have to have been charged something for them to be able to put forward a case then ??

cloughie · Apr 23, 2013

kingharvest said:
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

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 · Apr 23, 2013

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 · Apr 23, 2013

skyblue2k said:
What I was told at the weekend, still think its a bartering tool to get ccfc a better deal

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 · Apr 23, 2013

skyblue2k said:
What I was told at the weekend, still think its a bartering tool to get ccfc a better deal

no shit Sherlock

Baginton · Apr 24, 2013

rupert_bear said:
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.

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

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