And of course under the original deal the club would have got half of the rent back as we owned half of the management company. This argument isn't relevant to this thread though is it.
For the nth time, don't expect anything definite to happen till the JR mess is resolved. With luck that will be over by the end of the month..
SISU get off your arse and drop the legal action and match the bid.
You are to blame for not taking up the options in your greedy push to get it on the cheap.
Not for the club but for your own financial gain.
However I see safeguards for the club in this bid and in my dreams it shows Sisu disappearing back to the City of London.
What would happen if any sale involved paying off the loan? The court case could still proceed but as most people seem to think the most severe punishment would be loan repayment wouldn't it then be pretty pointless.
Spider Ricoh
Are you an ACL plant or plank?
What was the Ricoh as a stadium built around ( um the football pitch is a clue here ) and for who as the main tenant to use ( another clue the city of coventry)........................
So your main objective is to get SISU to leave. But you then say
but
and
To sum up you want SISU to go, say if SISU owned the ground and the club they would sell both but they should pay as high a price as possible and under no circumstances should they be sold the ground. That all seems to make sense :facepalm:
What would happen if any sale involved paying off the loan? The court case could still proceed but as most people seem to think the most severe punishment would be loan repayment wouldn't it then be pretty pointless.
Three Law Lord Judges are a different force to those who have looked at the case so far
Martin Reeves and his team (allegedly) have bought enough support to push it through
The panic seems pretty clear it is to do with the JR and the potential enforcement in repaying the loan - otherwise what is the rush??
From a business point of view - SISU should sit tight. If WASPS get the deal they still have 4 years and it may be the new owners can strike a long term deal with SISU. If WASPS cannot fund it then CCC have no other bidders. I would not enter teh bidding ring yet especially as no one is saying what the deal is
Spider is like Derek Hatton.
Why is it faceplam? You've summarised it perfectly.
The funny thing being that the council is lending to its own private arm as 50% of ACL.For the nth time, don't expect anything definite to happen till the JR mess is resolved. With luck that will be over by the end of the month..
£10M council grant, I do not think there is any expectation of repayment, like the £10M grans from AWM & another development fund.
£21M loan to make up shortfall in Arena build costs, reduced now to £14.4M(ish).. this is all on ACL, what stupot says is disingenuous, this is still effectively being paid back.
What an inane comment.
Are they not?What an inane comment.
£21m which was paid back by ACL when they took the £21m and paid the 50 year lease up front.
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
So basically, SISU are causing this, isn't that what you are saying.
If the council lose the JR it's because they've broken the state aid rules. THEY have. Not SISU.So basically, SISU are causing this, isn't that what you are saying.
Which then went on to make up ACL's humping great mortgage which even SISU accepted was the main driver of the rent.
Regardless, there was still scope for a greatly reduced deal £400k, and possibly even £150k which was turned down. Please, let's not do this again.
The one thing that is absolutely clear here, if SISU had either negotiated for a share of ACL, or accepted one of the later reduced rent deals, then we wouldn't be here. Breaking the lease and moving to Nothampton is exactly what's opened up the door to Wasps.
Even now, if SISU came out and said they'd like to talk about the same kind of deal that Wasps are proposing, then I suspect the Council would find it hard to push through the Wasps deal. But they won't.
So the only reason I can see to stand against this is the damage done to the other third parties, Wasps' Fans and Coventry RFC. I can't support the Council deliberately injuring either of those groups, but as far as their obligation to the club goes, without the club showing some interest in buying into ACL what can CCC do?
The Council could actually come out and say we are prepared to sell to CCFC and the base line figure per our valuations is £x
Do you think the Council will get to find out who the finaciers are for the consortium or is it a funny handshake and rolled up trouser leg brigade again
The Council could actually come out and say we are prepared to sell to CCFC and the base line figure per our valuations is £x
Un-fucking-believable....
I despair sometimes.....I really do.
This is the council that demolished the Smithfield Hotel 12 years ago based on promises from developers.At this level they should alrerady have proof of funding
But CCFC, or at least SISU, are still standing by the line that they're building elsewhere. In the meantime, they're persisting with the legal appeal. I would say that to most people that shuts down the possiblity of doing a deal, or at the least the obligation to offer one. You're supporting SISU in that approach, I take it?
Everyone seems to get the impression that this detailed interest from Wasps is being progressed as some knee jerk reaction to rush it through. I am not so sure it is, I think it will turn out that detailed talks have been going on for a number of months and prior to the JR result. For instance it takes time to put an investment prospectus together and that is subject to due diligence and that only happens once heads of agreement have been agreed and that only happens after detailed talks and scrutiny by the various lawyers etc. That all takes a lot of time especially given the history of the site
The points of law and the facts of the JR remain the same and few cases actually get reversed on appeal especially not after such a damning judgement in the first place. What odds three law lords over turning one of their esteemed colleagues judgements (especially one very highly regarded in the legal profession). Could he have got it so wrong after such a detailed summing up and reasoning?
the Consortiums own due diligence would have had to consider the JR because the loan is central to the ACL balance sheet including getting their own legal opinion. It seems they are willing to press forward with it ........ what does that tell us. Didn't someone say they would come in ready for next season ..... that doesn't seem a great rush.
Finally we do not actually know what next weeks vote is on ...... a sale, permission to look at sale, a rejection of the sale etc
The Council could actually come out and say we are prepared to sell to CCFC and the base line figure per our valuations is £x
This is the council that demolished the Smithfield Hotel 12 years ago based on promises from developers.
you cite City's greatest hero in your profile name and yet support the entity who have done the greatest harm to CCFC to own the Ricoh, which would be an absolute nightmare. Un-fucking-believable...hyprocite
If Sisu spent more time trying to strike a deal to buy the Ricoh instead of Court action against the owners to get a cheap deal then they might be further down the line in a purchase.... They are still the worst owners we have ever had and the CCC are always going to be the worst people in control of the borough, its the way it is and the way it will be no matter outcome..
Who is to blame all have to take a share but while others parties are interested in the Ricoh, Sisu prepare for court in the hope they win!!!!!!!!!! that for me says it all,,,, SISU are always the victim never the root cause TF, JS along with the new face SW are very harmful as they hold the key to the clubs destiny, which is a scary thought....
you cite City's greatest hero in your profile name and yet support the entity who have done the greatest harm to CCFC to own the Ricoh, which would be an absolute nightmare. Un-fucking-believable...hyprocite
Which then went on to make up ACL's humping great mortgage which even SISU accepted was the main driver of the rent.
Regardless, there was still scope for a greatly reduced deal £400k, and possibly even £150k which was turned down. Please, let's not do this again.
The one thing that is absolutely clear here, if SISU had either negotiated for a share of ACL, or accepted one of the later reduced rent deals, then we wouldn't be here. Breaking the lease and moving to Nothampton is exactly what's opened up the door to Wasps.
Even now, if SISU came out and said they'd like to talk about the same kind of deal that Wasps are proposing, then I suspect the Council would find it hard to push through the Wasps deal. But they won't.
So the only reason I can see to stand against this is the damage done to the other third parties, Wasps' Fans and Coventry RFC. I can't support the Council deliberately injuring either of those groups, but as far as their obligation to the club goes, without the club showing some interest in buying into ACL what can CCC do?
Aren't you forgetting the other third party that damage will be done to you - us the ccfc fans?
Never stop a mindless rant with facts
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