Another Take? (1 Viewer)

The Ricoh isn't for sale firstly. But if it was and we give Joy what she wants, what's to stop her charging extortionate rent like ACL are accused of? After she's sold on the club of course.

But what if the only deal was that the whole lot was sold to the Football Club - and in the event of SISU (or whatever they want to call themselves) decide to sell the football club it is linked to the selling of the Arena as one package.?

chucker9 said:

SISU can't pick up and move the stadium, it makes the whole football club package more saleable and if all else fails SISU end up developing the land around the stadium and create tax paying jobs. As long as there is some sort of legal deal that the club and the stadium can't be sold separately and both are linked then what's the worst that can happen.

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ARVO have a charge over Otium, so if the football club owned the stadium, sisu could liquidate Otium and arvo would get the stadium.

How would that be enforceable? Remember all club debt to ARVO is secured, what was our debt at last count BTW? Roughly the value of an arena?

What's to stop them liquidating the club and claiming it as a creditor?

chucker9 said:

Who's she charging the extortionate rent to? If its to CCFC then we are back to square one. Don't get me wrong, its not outside the realms of possibility.

What would be the point of selling the club on?? It doesn't exactly look like people are fighting to get into the Ricoh so she needs a tenant to make it more viable hence the advocate about keeping the club and the stadium linked.

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Well she's not a big fan of the football club as shown. I'd imagine that if she wanted to leave, she'd arrange with a buyer to cancel the SBT in return for the stadium or as said before liquidate the club and sell the stadium that way.

There are lots of mechanisms, ultimately it's down to trust in Sisu. Something they've frittered away in recent years.

chucker9 said:

SISU can't pick up and move the stadium, what's the worst that can happen.

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Well, I for one didnt think they would be able to move COVENTRY city out of the city of COVENTRY...

The worst is bad, very bad. They have already screwed over the football club even though they own it, imagine what they would do with the arena !

chucker9 said:

Hi everyone,

New to the posting thing but an avid reader of everyone's musings.

I live in Northampton and have been a season ticket holder up until now. I'm not a SISU lover but the last few Saturdays, sorry Sundays, have had me thinking.

As it stands, we have no home and the Council have potentially a big white elephant on their hands. If by some sort of miracle the Council and SISU could get together what is the worst that could happen by selling them the Ricoh???

Assuming its a sensible offer, and that's not a given with SISU, why shouldn't the Council take the money, and the Higgs for that matter, and start concentrating on what is important i.e. the City of Coventry. We'd have no more of this bullshit, piss and wind, he said, she said and we could concentrate on supporting our team.

SISU can't pick up and move the stadium, it makes the whole football club package more saleable and if all else fails SISU end up developing the land around the stadium and create tax paying jobs. As long as there is some sort of legal deal that the club and the stadium can't be sold separately and both are linked then what's the worst that can happen.

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Good first post Chucker. It does on the face of it look like a viable solution. And if by some miracle of English law, SISU could be tied in legally not to screw the football Club or the City of Coventry over, it might even be plausible. However the major problem is (and one which ACL and CCC have observed) is that SISU are totally unethical and have more devious moves that stretch the laws than you can throw a stick at. The Final conclusions is that once you have a dose of SISU you are fu(k'd

Cheshire Sky Blue said:

Good first post Chucker. It does on the face of it look like a viable solution. And if by some miracle of English law, SISU could be tied in legally not to screw the football Club or the City of Coventry over, it might even be plausible. However the major problem is (and one which ACL and CCC have observed) is that SISU are totally unethical and have more devious moves that stretch the laws than you can throw a stick at. The Final conclusions is that once you have a dose of SISU you are fu(k'd

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doses of sisu cause anal leakage and bleeding which often manifests itself as posts on sky blues talk. Grendel is advised to immediately see a medical professional, my vet is very reasonable.

If Joy got her hands on the Ricoh, why would she want the football club?

chucker9 said:

Hi everyone,

New to the posting thing but an avid reader of everyone's musings.

I live in Northampton and have been a season ticket holder up until now. I'm not a SISU lover but the last few Saturdays, sorry Sundays, have had me thinking.

As it stands, we have no home and the Council have potentially a big white elephant on their hands. If by some sort of miracle the Council and SISU could get together what is the worst that could happen by selling them the Ricoh???

Assuming its a sensible offer, and that's not a given with SISU, why shouldn't the Council take the money, and the Higgs for that matter, and start concentrating on what is important i.e. the City of Coventry. We'd have no more of this bullshit, piss and wind, he said, she said and we could concentrate on supporting our team.

SISU can't pick up and move the stadium, it makes the whole football club package more saleable and if all else fails SISU end up developing the land around the stadium and create tax paying jobs. As long as there is some sort of legal deal that the club and the stadium can't be sold separately and both are linked then what's the worst that can happen.

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sounds good in principle but you only have to look at the way they do business to know it would be a disaster for the club and i don't just mean the way they have ran our club, go on google and look at a history of their business dealings and history, it don't make attractive reading.

If for example say the council/acl sell to sisu for 20mil, sisu have it instantly on the market for 35mil. Their plan is get it cheap, sell it face value and make an easy profit.

Not going their way is it.

Figures above are prob way off i know but u get my point

OK firstly we have had these conversations many times on here already.

I would not want the council to sell the arena to SISU. At least not the bricks and mortar (freehold)

However the OP is on the right lines but what would make it work is a leasehold agreement over say 125 years giving the football club effectively 'ownership' of the arena and paying a rent. (a sensible rent that would be peppercorn in value and subject to which league and success we were having) and provide the council with revenue on a full repairing and insuring lease.

Some parts of the arena would not be included that had no logical reason, such as the sub leases of casino, hotel etc.
The football club would operate the stadium, concert and conferences venues and car parking, the concessions, etc etc.

The land development could be a joint venture with any number of parties.

The lease could not be assigned without the inclusion of the football club and the football club must always be owned by the same leaseholder. If the club is sold the lease on the arena is revoked automatically. There could also be a clause to ensure SISU could not assign the lease to any one for a minimum period - say 5 or 10 years. That they must reinvest a percentage of turnover back into arena developments and the football club.

Now something along those lines would be an ideal solution, give SISU an opportunity to realise their money back and raise enormous interest from other investors.
Hell if you had the remains of a 100 year or so lease on the stadium and a major cities football club then I think plenty of sugar daddies would be on the scene. It may even be possible for then new owners to renegotiate with the freeholders, something refused to SISU.

Doubt though that the council are anywhere near that level of thinking?

In theory you could let SISU have it and put conditions on the sale, such as CCFC not having to pay rent, never being able to be separated from ownership of CCFC but I think we're way past the point where anyone would trust SISU to honour any conditions and not drag everyone constantly into court until they've got what they want.

There could easily be a scenario where SISU get hold of the stadium and then get rid of CCFC leaving the new owner to pay rent to SISU.

Coventry is the 9th or 10th biggest city in the country however ranked around 50th in retail development. That shows how well ms Lucas knows of the business world. She is trying to improve that with the Ricoh site.

So the choices are: Stay in Northampton and complain. Sell the Ricoh to SISU, come back to Cov and complain.

Or wait for another PROPERTY DEVELOPER like PH4 to buy us. Safe as houses then.

chucker9 said:

Hi everyone,

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Hello :welcome:

chucker9 said:

New to the posting thing but an avid reader of everyone's musings.

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Great, hope you can make a valuable contribution to the discussion.

chucker9 said:

I live in Northampton and have been a season ticket holder up until now. I'm not a SISU lover but the last few Saturdays, sorry Sundays, have had me thinking.

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I think they've had a lot of people thinking, including Tim "why have all my, sorry the clubs fans deserted me?"

chucker9 said:

As it stands, we have no home and the Council have potentially a big white elephant on their hands.

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There's that word potential and there's a flipside to that coin. They aren't losing any money on it like some other council owned stadia, and in fact the loan is making them a minor profit. So at the moment the only White Elephant on the horizon is the White Elephant Stadium Tim intends to build somewhere in the country - Where are the plans for the White Elephant Stadium you promised us Tim?

chucker9 said:

If by some sort of miracle the Council and SISU could get together what is the worst that could happen by selling them the Ricoh???

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I dread to think but the others in this thread have made some suggestions

chucker9 said:

Assuming its a sensible offer, and that's not a given with SISU, why shouldn't the Council take the money, and the Higgs for that matter, and start concentrating on what is important i.e. the City of Coventry. We'd have no more of this bullshit, piss and wind, he said, she said and we could concentrate on supporting our team.

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Okay what constitutes a sensible offer, at a guess I'd say more than SISU are willing to pay and according to Tim it will be cheaper for them to build a new stadium anyway. - Where are the plans for the White Elephant Stadium you promised us Tim?

chucker9 said:

SISU can't pick up and move the stadium, it makes the whole football club package more saleable and if all else fails SISU end up developing the land around the stadium and create tax paying jobs. As long as there is some sort of legal deal that the club and the stadium can't be sold separately and both are linked then what's the worst that can happen.

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The problem here is one of trust, there aren't many who would trust SISU with the Ricoh and I'm one of them. Now they don't actually need to own the freehold of the stadium to gain all the benefits they just need to own ACL with a lot longer lease which with it would come a lower rent. They'd then have access to all the revenue streams that ACL have and would hopefully have money to invest in our football club. Not negotiating about the rent was a masterstroke in gaining trust from all parties at ACL and if SISU thought that would go well they should have bought a better crystal ball.

Not taking any of the offers on the table from ACL to try and help restore that trust was another brilliant decision. As far as I know haven't made any attempt to make up with the people they need to to get anywhere near a sale. They're operating a policy of NOPM to ACL (presumably in the hope they'll go bust) and playing the 'home' games 35 miles away at Northampton where they are crippling themselves financially with a smaller ground, lower maximum attendance etc. None of which I would have thought endeared them to the owners of ACl and the Freeholders of the stadium. We the supporters of the club want our club back in Coventry and someone who will invest in the club not gamble with things like the academy which is vital to us.