NorthernWisdom
Well-Known Member
My point is exactly what I wrote!
Council should own the stadium outright (1 Viewer)
- Thread starter covboy1987
- Start date
James Smith
Well-Known Member
So what needs correcting? If he said it why wouldn't it be true?
NorthernWisdom
Well-Known Member
What needs correcting is what I heard on his CWR interview, if I mishead 
imp:
Isn't this a bit pointless, as you're arguing against me on a totally separate point, where I'm not arguing with you at all as for all I know Tim Fisher was a cameo in Bodger and Badger and was crying about mashed potato, as I neither heard, misheard, read nor misread that, so can have no opinion other than the quote you put up, which I'm more than happy to accept!
imp:Isn't this a bit pointless, as you're arguing against me on a totally separate point, where I'm not arguing with you at all as for all I know Tim Fisher was a cameo in Bodger and Badger and was crying about mashed potato, as I neither heard, misheard, read nor misread that, so can have no opinion other than the quote you put up, which I'm more than happy to accept!
Mary_Mungo_Midge
Well-Known Member
As I see it: CCC have the freehold. ACL have the leasehold. ACL took a mortgage to pay for the cost of the lease. Once they clear the mortgage - irrespective of lender - they don't assume any more ownership of the stadium; just ownership of the lease to run the stadium. As such, their earnings would increase as they wouldn't have the same outgoings (mortgate payments) to offset income
NorthernWisdom
Well-Known Member
Yes, that sounds about right.
Of course the less time on the lease the less value in the business too. A longer lease would be nice whoever owns ACL.
Mary_Mungo_Midge
Well-Known Member
Isn't there about 41-42 years left on the lease, something like that? I think that's enough time for ACL to build a contingency.
If the current situation is sorted by then, of course :thinking about:
And a football team using the green (... mostly ... sometimes ...) spot wouldn't be too bad either.
Nonleagueherewecome
Well-Known Member
What needs correcting is what I heard on his CWR interview, if I mishead
Isn't this a bit pointless, as you're arguing against me on a totally separate point, where I'm not arguing with you at all as for all I know Tim Fisher was a cameo in Bodger and Badger and was crying about mashed potato, as I neither heard, misheard, read nor misread that, so can have no opinion other than the quote you put up, which I'm more than happy to accept!
I was going to comment, but seeing as I'm past the one hour deadline between your post and mine, I'm not allowed to. It would all be a bit after the Lord Mayor's show anyway..
NorthernWisdom
Well-Known Member
Brighton Sky Blue
Well-Known Member
Is he a cock sucker or a rent boy?
Nonleagueherewecome
Well-Known Member
He's SISU scum. Blatantly. I was hoping he was going to post on the James Bailey thread, but then that would be to confuse him with being a football fan.
Brighton Sky Blue
Well-Known Member
That's the thing about OSB which is good-he posts just as much about football as anyone else when he's not being asked to explain professional accounting. Can't say the same about certain others...
Paxman II
Well-Known Member
Goodness me, how many times has this been regurgitated?
1. The stadium is outright owned as a freehold property by Coventry Council.
2. The lease was awarded to ACL. This company was set up with the council as the management company for the stadium.
3. The value of that lease could be used as collateral but not on the same scale as a freehold. ACL already have a loan in place.
4. The Higgs Charity own a 50% stake in ACL. This is the share which the Sky Blues sold back years ago for around £6m as they needed the money. The Charity are willing to sell it back. However this does not give rights to revenue streams from the operation of the stadium.
5. ACL should in my opinion never have been set up without at least partial or equal lease rights in a joint venture with the football club.
6. My opinion is ACL should be disbanded. The stadium should be offered on a new 99 year or 125 year lease to the football club. SISU should not be given this option as they have proved unfit for purpose.
7. New owners of the football club should be given the chance to lease the stadium.
8. SISU still have the football club franchise as we know it (Holdings) but no lease.
9. CCFC Ltd (in admin) owned the lease or sub lease from ACL if you will.
10. IF the so called 'Golden Share' IS with CCFC LTD (in admin) then SISU will no longer have the 'franchise' known as CCFC, no golden share and basically no football club known or recognised by the footballing authorities (league/FA)
11. Haskell or any prospective purchaser of the entity in admin (CCFC LTD) if indeed the golden share is confirmed to be there will be buying the football club and therefore will negotiate terms for a sub lease from ACL or perhaps wisely a new lease entirely with ACL either disbanded or the new owners taking over ACL completely and therefore the lease becomes the football club - the way it should have been in the first place.
12. It ALL hinges on the 'Golden Share'
1. The stadium is outright owned as a freehold property by Coventry Council.
2. The lease was awarded to ACL. This company was set up with the council as the management company for the stadium.
3. The value of that lease could be used as collateral but not on the same scale as a freehold. ACL already have a loan in place.
4. The Higgs Charity own a 50% stake in ACL. This is the share which the Sky Blues sold back years ago for around £6m as they needed the money. The Charity are willing to sell it back. However this does not give rights to revenue streams from the operation of the stadium.
5. ACL should in my opinion never have been set up without at least partial or equal lease rights in a joint venture with the football club.
6. My opinion is ACL should be disbanded. The stadium should be offered on a new 99 year or 125 year lease to the football club. SISU should not be given this option as they have proved unfit for purpose.
7. New owners of the football club should be given the chance to lease the stadium.
8. SISU still have the football club franchise as we know it (Holdings) but no lease.
9. CCFC Ltd (in admin) owned the lease or sub lease from ACL if you will.
10. IF the so called 'Golden Share' IS with CCFC LTD (in admin) then SISU will no longer have the 'franchise' known as CCFC, no golden share and basically no football club known or recognised by the footballing authorities (league/FA)
11. Haskell or any prospective purchaser of the entity in admin (CCFC LTD) if indeed the golden share is confirmed to be there will be buying the football club and therefore will negotiate terms for a sub lease from ACL or perhaps wisely a new lease entirely with ACL either disbanded or the new owners taking over ACL completely and therefore the lease becomes the football club - the way it should have been in the first place.
12. It ALL hinges on the 'Golden Share'
lordsummerisle
Well-Known Member
Pretty much, and when that 50 year(or however long is left now) lease expires then it would be up for tender I'd imagine for the next 50 year lease to the highest bidder.
CCFC PimpRail
New Member
Both
And you are a Trainspotter...
I don't think so chap,a bit of an old crank maybe....
CCFC PimpRail
New Member
Vanguard was always mine.
