And be able to offer a ridiculously low rent
That could keep the football club alive, ACL alive and the football club at Coventry
I'd have thought as a reporter that Simon Gilbert would have actually read the court documents and understood them before putting out an article?
The 2 million pounds deal was cash, and was becuase Higgs wanted a deal outside the scope of the original agreement which involved more risk to Sisu.
The original offer would have still stood I think if stuck to the original terms.
Wow. Five words I never thought I'd see on here...
Do you know if, when then exclusivity deal with Sisu ended in order to be available to speak to any other interested parties, there were any serious interested parties to speak to, and were they negotiated with?
He wasn't really fair in his reporting
He decided the only solution was for the Ricoh to be sold to SISU. From that point in he used his position in the Telegraph to campaign for this despite the fact many of his readers did not agree.
He also was very hostile when people provided feedback for his work.
He also dug up very little for an ' investigative journalist'
Does that not mean there was a conflict of interest though for CBRE?
Rubbish. It's for the market to decide. Ultimately do you want a better deal for the stadium management company or the football club. As much as I hate the owners I want a viable club, surely a new owner would then be easier to find.
I'd have said so.
CCFC not paying ANY rent devalued it.
That means you have a unstable bad anchor tenant. It is bound to devalue it
Au contraire - how do you think rents are calculated in any commercial property?
The problem is that the terms of the original offer, £1.5m up front and £4m to follow over ten years, weren't acceptable (largely I think because of a lack of security). SISU never addressed that. That's in those original documents too.
In retrospect, given how SISU seemed to be able transfer assets around so that they could break the lease and escape a large proportion of their debts with CCFC Ltd, I think avoiding the 'buy now, pay later' scenario looks like a wise move by the Higgs trust!
Maybe something Simon could look at ,Mr Majid was mentioned in the case.
They paid £500k out of the escrow
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They paid £500k out of the escrow
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And they showed every intention of breaking the 40-odd years left on the lease, reducing the value of ACL's assets by tens of millions.
It would have saved your poor little fingers to just type "I didn't agree with him".
10's of millions?
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What condescending crap (and I should know something about condescending crap).
There was a mountain of evidence for Reid's unprofessionalism and bias, nothing to do with who agrees with what.
No I mean when you are valuing a business if the anchor remnant has ran their business so poorly it gets relegated. Then they announce a rent strike. It is hardly not going to impact on the value of your business as a landlord
If by doing the deal the Clubs debt becomes connected to ACL ,would that keep the shares In ACL low,it was some form of Share In ACL that SISU were offering to Higgs was'nt It .
I still feel if SISU really wanted this trial to go ahead. Counter suing for 290 k was not the way to go about it.
That was a hammer to try and get the Higgs charity to withdraw.
If the trial was a fishing expedition that would just contest it surely or counter due for a non astronomical amout.
Sisu have run the club badly, but a club who's revenue as limited as us was always on the road to relegation. I know I keep banging on about this, but relegation season 9 clubs with lower attendances, yet we were in the bottom 3-4 turnovers in the league. The 3 promoted teams with wage bills circa x3 our entire turnover.
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Not at all. As soon as he wrote "what about ACL..." The knives were out and no matter what he said he was attacked for it. The same will happen to Simon if he steps out of line.
As long as he evidences it. As oppose to just forming an opinion then ramming it down everyone's throat as there is no other option. Simon will be alright.
And we wouldn't have anyone ramming their views and opinion down anyone throat on here, would we?
I''d advise people read LR's article again ,not the JS interview ,the other one .
I left It about 6-8 weeks before reading It and the only point i found contentious was his view we should all surrender.
Thinking more about It ,would PWC advise that ACL would be worth more or less If the clubs debt transferred into ACL as a result of the deal ,might be a deal breaker If less or negligable.
Well, if you had a 40 year lease at £1.3m/year, yeah.
Hmmm interesting, when I and others have argued that perhaps breaking the 40 year £1.3m a year lease as blessing in disguise, we've been told to stop being disingenuous as lower rent offers mean that it wouldn't have been £1.3m for the next 40 years....
But anyway.
£1.3m x 40 = £52m. So yes you are right, on the flip side breaking the lease has removed £52m liabilities from ccfc...
And why a break clause was included I'll never know.
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havent we got a 100+ page thread about this already ?
Don't suppose you could evaluate what their St prices were could you Stu ,we were very cheap,especially when you see what we've been paying for away games this season.
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