Could Coventry be shut out of Ricoh? (1 Viewer)

[jmegordon]

Submitted by WG on Mon, 20/08/2012 - 15:21

Whilst no statement to this effect has been issued, reports are circulating in Coventry that the stadium management company at the Ricoh are contemplating shutting Coventry City out of the ground for their first home game of the season against Sheffield United tomorrow night.

The exercise of this nuclear option would be very serious. The Sky Blues would then be unable to fulfill their fixtures and the usual consequence of that is expulsion from the Football League, although the league would not want to lose a club. Given that a court ruling gave Coventry City more time to pay, such an action might not be viewed favourably from a legal perspective even though the club is clearly in breach of its tenancy agreement.

To me this looks like the latest act of brinkmanship in a long drawn out negotiating process. Apparently, further talks are set for tomorrow morning and hopefully both parties will step back from the brink and come to a mutually accepted compromise.

Without a football tenant, the Ricoh would lose much of its purpose. However, the stadium management has become exasperated by the length of the discussions. They still have to meet the capital and running costs of the stadium.

For their part Coventry City claim that they cannot afford to pay £100,000 a month in rent when they are in League 1, although they spend far more on player wages. An acceptable compromise might be for the rent owed from April to be paid and for a reduced rent to be agreed from now on.




http://www.footballeconomy.com/content/could-coventry-be-shut-out-ricoh?

 

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[We'll_live_and_die]

Lets hope PWKH will be along to answer this shortly and factually.

 

[1nilandwe...]

It won't happen, obviously. And certainly not tomorrow night. It's all gamesmanship (sp?). But the fact that it may be being discussed is quite worrying.

 

[WillieStanley]

I don't believe a word of it. Surely, after the court ruling, they would have no grounds to do that. If they do that, then SISU win. ACL become the bad guy.

 

[CovFan]

When did the court ruling come out about giving the club more time to pay? I missed that news.

 

[fernandopartridge]

Lets hope PWKH will be along to answer this shortly and factually.

Pardon? Can you repeat please?

 

[Paxman II]

Absolute tosh. Sticks and stones....

 

[kg82]

Pardon? Can you repeat please?

PWKH ues the site and is a member of ACL.

I think if they tried doing his tomorrow they could cause a riot - not figuratively either, literally.

 

[fernandopartridge]

PWKH ues the site and is a member of ACL.

I think if they tried doing his tomorrow they could cause a riot - not figuratively either, literally.

They'd also potentially be in breach of a court order. It's just speculation imo.

 

[ccfcway]

its ACL's main trump card isnt it ?, you dont pay the rent, you dont play in the ground..

interesting to see how this develops

 

[kg82]

They'd also potentially be in breach of a court order. It's just speculation imo.

Don't get me wrong, I think it's probably total rubbish, but speculating is what this site's about right!

 

[wingy]

They'd also potentially be in breach of a court order. It's just speculation imo.

Not if the Escrow account has'nt been topped backup ,which was requested by the judge in court.

 

[Diehard Si]

At work if our customers don't pay, we put them on stop until they do.

It's a crap situation but if I was at ACL I'd be doing the same to be perfectly honest.

You would need to give them more warning though.

 

[Ashdown]

Yet more shit though for the players and management of the club to read about, add this to the bonus fiasco before the Yeovil game and you wonder why motivation comes into question now and again. Whether its true or not, it creates yet more bad feeling and negativity around the club going into a first game we need to play well in to have any chance of creating some good vibes for fans sitting on the fence to pick up on.

 

[Gray]

ACL get all the matchday money spent at the arena though don't they?

 

[oldskyblue58]

ACL get all the matchday money spent at the arena though don't they?

nope ....... there is a joint venture with compass (who have paid for the right to operate the outlets bars etc) ...... ACL receive a share of the profits on the contract after all expenses paid out

 

[Gray]

nope ....... there is a joint venture with compass (who have paid for the right to operate the outlets bars etc) ...... ACL receive a share of the profits on the contract after all expenses paid out

oh ok, so they do get a bit then...just thinking it would be in their interest to keep it open for the money..

and also i guess the casino might have something to say about it, they probably make loads of money on a match day

 

[pusbccfc]

Bollocks would the Council allow a city the size of Coventry not have a football club. It puts the City on the map and is a vital tourist attraction of the city.

 

[oldskyblue58]

think it is everyones interest to keep it open ............ at some point ccfc have to come up with constructive proposals as to the rent ........ simply not paying it wont do ........... whilst they they dont pay anything then acl are within their rights to change the locks or look for alternative uses, it isnt ACL in breach of contract

 

[WillieStanley]

Lets hope PWKH will be along to answer this shortly and factually.

We should have a massive torch that we could shine into the sky like a bat signal whenever we need him to shed his own light on things:guitar2:

 

[fernandopartridge]

Not if the Escrow account has'nt been topped backup ,which was requested by the judge in court.

No but the order didn't provide for ACL locking the club out, did it?

 

[jmegordon]

Just to add insight, CCFC just tweeted this:

"Rumours casting doubt on tomorrow’s CCFC fixture with Sheffield United going ahead, are categorically not true. The game goes ahead. #pusb"

https://twitter.com/Coventry_City/status/237576169153785856

 

[skyblue_rich]

This is interesting. I have heard something completely different. What i heard was that Sisu are close to buying the Higgs bit of the ground, the stumbling point is the council want reassurances that Sisu wont flog their bit of the stadium on. we will wait and see

 

[Nick]

Who did you hear that off? I think in the press the Higgs side have categorically said that there is nowhere near a sale. Unless it has changed in the last month or so though

 

[skyblue_rich]

I personally doubt it will happen, but its what I have been told by a usually reliable guy who has strong links with the acl and club office at the Ricoh

 

[fernandopartridge]

I personally doubt it will happen, but its what I have been told by a usually reliable guy who has strong links with the acl and club office at the Ricoh

Strong links with the club office? Is he a ceiling tile?

 

[SkyBlueScottie]

It really gets my goat that they use the excuse that we pay players more than the rent.... Ok we reduce the playing staff / slash the wage bill, come next season we get relegated again and we still will not be able to afford the rent..... they cant simply bang that drum. Yes a deal was signed many moons ago, however in todays times that deal is not sustainable, give a bot of help and the deal may become sustainable in a couple / few years time.

 

[oldskyblue58]

the deal with the charity is for the shares in acl not half the stadium. acl is a private company and as such any new shareholders would need council approval anyway .............. sisu cant just sell the shares on to anyone they choose..... so it isnt necessary to get reassurances.

Also the period of due diligence ran out 2 weeks ago with no deal done

 

[skyblue_rich]

the deal with the charity is for the shares in acl not half the stadium. acl is a private company and as such any new shareholders would need council approval anyway .............. sisu cant just sell the shares on to anyone they choose..... so it isnt necessary to get reassurances.

Also the period of due diligence ran out 2 weeks ago with no deal done

As I stated earlier, I doubt it would happen, but thought people would be interested in what I was told

 

[oldskyblue58]

not knocking reporting it rich.... the more things are out in the open the better......... just giving further info as per companies act and shares etc.......... there may be something going on but i suspect the delay is more from sisu's side than anywhere else

 

[skyblue_rich]

I agree, OSB, I do doubt how they can suddenly find the funds for this deal, plus more unanswered questions

 

[Marty]

I'd of chucked us out ages ago. Don't we only account for 13% (or a figure quite low) of the income ACL make, It's like if you rent out a house, I couldn't care less what happens in your life as long as I get my rent at the end of every month. If you can't pay, go and find somewhere else to live.

Just hope ACL don't cave in.

 

[SkyBlue_Bear83]

I'd of chucked us out ages ago. Don't we only account for 13% (or a figure quite low) of the income ACL make, It's like if you rent out a house, I couldn't care less what happens in your life as long as I get my rent at the end of every month. If you can't pay, go and find somewhere else to live.

Just hope ACL don't cave in.

Yea me too

In fact I hope CCFC get chucked out of the league as well and also go out of existence

That would show those SISU scum

 

[Marty]

Yea me too

In fact I hope CCFC get chucked out of the league as well and also go out of existence

That would show those SISU scum

That would never happen and you know, no need to be such a patronising little prick.

 

[Ricoh2012]

Submitted by WG on Mon, 20/08/2012 - 15:21

Whilst no statement to this effect has been issued, reports are circulating in Coventry that the stadium management company at the Ricoh are contemplating shutting Coventry City out of the ground for their first home game of the season against Sheffield United tomorrow night.

The exercise of this nuclear option would be very serious. The Sky Blues would then be unable to fulfill their fixtures and the usual consequence of that is expulsion from the Football League, although the league would not want to lose a club. Given that a court ruling gave Coventry City more time to pay, such an action might not be viewed favourably from a legal perspective even though the club is clearly in breach of its tenancy agreement.

To me this looks like the latest act of brinkmanship in a long drawn out negotiating process. Apparently, further talks are set for tomorrow morning and hopefully both parties will step back from the brink and come to a mutually accepted compromise.

Without a football tenant, the Ricoh would lose much of its purpose. However, the stadium management has become exasperated by the length of the discussions. They still have to meet the capital and running costs of the stadium.

For their part Coventry City claim that they cannot afford to pay £100,000 a month in rent when they are in League 1, although they spend far more on player wages. An acceptable compromise might be for the rent owed from April to be paid and for a reduced rent to be agreed from now on.




http://www.footballeconomy.com/content/could-coventry-be-shut-out-ricoh?

Firstly, the game is going ahead. It's not got to that point yet and ACL are not childish like CCFC.

Secondly, the Ricoh does have purpose without CCFC, the club could go under and the Ricoh would survive without them. It has turned Coventry into a destination for business, entertainment and sport. I wish people would relaise what the Ricoh really does.......... Business from London know more than the people of Coventry - why do you think SISU want to get there hands on it??