Council the real baddies? (1 Viewer)

[italiahorse]

How much rent will they be paying on top of the money to buy ACL out? (Genuine question). How much were ACL paying?

According to BBC Midlands news, the Wasps consortium are paying £1m for the 250 year lease. They'e taking on the £13.2M loan and paying the council and Higgs Trust around £6m.

BBC Midlands news also said that Wasps were buying the Ricoh for £20M so they have not done their homework.

Unsure how much ACL pay to rent the complex but the figures should be about somewhere. OSB58 ?

 

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[skybluetony176]

I won't spend too much time on a fruitless discussion with the SBT fundamentalist wing but if you look at all the Higgs case disclosures and the judge's summing up, the deal of £2m to Higgs, take on £14.4m loan, extend to 125-year lease & bring in AEG was the last one put forward. The big disagreement came when Sisu – after due diligence – deemed the Higgs' share worth £2m. That's where the deal breaks down.

Two years later, Higgs & CCC get £2.74m each, the £13.4m loan goes and the lease is 250-years.

Also in those two years we've had a ton of legal, PR & consultant costs – admins, JRs, "media war", "sell to Sisu when hell freezes over", appeals etc. The club played games in Northampton for just over a season. We had a year+ of no major concerts at the Ricoh.

If someone wants to argue that those two years were of any value to the businesses, council tax payers, fans of CCFC or anyone else apart from those highly-paid legal, PR & consultancy people, go for it. The crayons are over there and you can draw your opinions to your heart's content.

And now we've got a franchise club in the city that is going to swamp the one that has existed here since 1874 and it looks highly likely that the football club will have to build a new stadium elsewhere.

We stopped Sisu getting the Ricoh on the cheap by selling it to London Wasps on the even-cheaper.

Great deal all round really.

So what you're saying is SISU did a superb job of distressing ACL and bringing down it's value but don't have the business acumen to finish what they started so another party who has have come in and done a deal instead?

 

[SkyBlue_Bear83]

spider_ricoh has now been successfully added to your ignore list. You will now be returned to where you were.




Much better

 

[spider_ricoh]

Spider Ricoh should be ashamed - its obvious he is a troll who hates CCFC and its long suffering fans.

Either that or he is a deranged lunatic who has no concept of reality.

Take that back. I don't waste thousands of pounds a year and much valuable time and energy supporting CCFC for SISU fanboys like you speaking about me like that.

Why do you love SISU so much? Can't you get it into your head that you can hate SISU whilst loving CCFC? Don't you get the SISU are the enemy, not the council?

 

[spider_ricoh]

Spider Ricoh should be ashamed - its obvious he is a troll who hates CCFC and its long suffering fans.

Either that or he is a deranged lunatic who has no concept of reality.

Add- I'm ashamed of CCFC/SISU, not myself. And also ashamed of 'fans' like you.

 

[bezzer]

BBC Midlands news also said that Wasps were buying the Ricoh for £20M so they have not done their homework.

Unsure how much ACL pay to rent the complex but the figures should be about somewhere. OSB58 ?

£13.2m + £6m + £1m is as near as damn it £20m

Not just BBC quoting those figures, Cov Telegraph the same.

 

[SIR ERNIE]

Looking at the deal they are about to do with Wasps, it looks similar to the deal SISU claim they were about to do to take on ACL and pay off the £14.5m bank loan before the council pulled out.

I think the council are every bit as guilty as SISU in all this and CCC have let their personal vendettas lose the people of Coventry City a home and also any chance of future success.

Had they remained impartial throughout, I feel the club would have been in control of the stadium for a couple of years now and we would probably be in the championship with Wilson, Clarke, Moussa, Christie etc

Time will tell whether the Council are the real baddies. Only when the deal has been done and the details available for scrutiny will we know. That said, it is SISU who are the poison in our club. It is they who are responsible for creating an environment in which a deal which would have been unthinkable three or four years ago, could now be reality.

 

[Travs]

Spider Ricoh you can see absolutely nothing wrong with the basic fact that Coventry already have a rugby team, yet our glorious council are bringing in an arguably bigger, franchise team...? Never mind the potential implications for the football club....

I appreciate that many many people will always be against SISU, you only have to look at some of the comments on here and on the facebook page. yet to be so entrenched in that view, that you cannot see nothing wrong in what the council are doing, is madness....

or perhaps people are afraid to admit that they backed the council all the way through, and are now being proved to have been at least partly in the wrong?

 

[Grendel]

Take that back. I don't waste thousands of pounds a year and much valuable time and energy supporting CCFC for SISU fanboys like you speaking about me like that.

Why do you love SISU so much? Can't you get it into your head that you can hate SISU whilst loving CCFC? Don't you get the SISU are the enemy, not the council?

Sisu fanboy? No one loves sisu you hapless clown.

You are a sad pathetic fool whose twisted by hatred.

You remind me of the Old Testament tale where the barren woman stole a baby and wanted it chopped in half so she could spite the mother.

You would rather see the club die that exist with sisu - you've already said you'd be happy with relegation to see them gone.

Go and have a lie down in a dark room and only return when you have something constructive to say.

 

[spider_ricoh]

Sisu fanboy? No one loves sisu you hapless clown.

You are a sad pathetic fool whose twisted by hatred.

You remind me of the Old Testament tale where the barren woman stole a baby and wanted it chopped in half so she could spite the mother.

You would rather see the club die that exist with sisu - you've already said you'd be happy with relegation to see them gone.

Go and have a lie down in a dark room and only return when you have something constructive to say.

Sounds like a great description of the embarrassing venom which you spat at Andy Thorn and anyone who agreed that the council were in the right.

 

[Hobo]

Spider Ricoh you can see absolutely nothing wrong with the basic fact that Coventry already have a rugby team, yet our glorious council are bringing in an arguably bigger, franchise team...? Never mind the potential implications for the football club....

I appreciate that many many people will always be against SISU, you only have to look at some of the comments on here and on the facebook page. yet to be so entrenched in that view, that you cannot see nothing wrong in what the council are doing, is madness....

or perhaps people are afraid to admit that they backed the council all the way through, and are now being proved to have been at least partly in the wrong?

I don't want Wasps coming to the Ricoh, I want Coventry City FC and Coventry Rugby to represent our city. But please tell me, have I missed SISUs counter bid for the stadium? Because even a bid on the same terms would really put CCC under pressure, wouldn't it. What are SISU doing to rectify this or have they different plans? We the fans always seem to be left to second guess what they might be thinking or what their strategy is? SISU own the club so I am personally waiting for them to show some leadership and intent before blaming other parties.

 

[Astute]

I won't spend too much time on a fruitless discussion with the SBT fundamentalist wing but if you look at all the Higgs case disclosures and the judge's summing up, the deal of £2m to Higgs, take on £14.4m loan, extend to 125-year lease & bring in AEG was the last one put forward. The big disagreement came when Sisu – after due diligence – deemed the Higgs' share worth £2m. That's where the deal breaks down.

Two years later, Higgs & CCC get £2.74m each, the £13.4m loan goes and the lease is 250-years.

Also in those two years we've had a ton of legal, PR & consultant costs – admins, JRs, "media war", "sell to Sisu when hell freezes over", appeals etc. The club played games in Northampton for just over a season. We had a year+ of no major concerts at the Ricoh.

If someone wants to argue that those two years were of any value to the businesses, council tax payers, fans of CCFC or anyone else apart from those highly-paid legal, PR & consultancy people, go for it. The crayons are over there and you can draw your opinions to your heart's content.

And now we've got a franchise club in the city that is going to swamp the one that has existed here since 1874 and it looks highly likely that the football club will have to build a new stadium elsewhere.

We stopped Sisu getting the Ricoh on the cheap by selling it to London Wasps on the even-cheaper.

Great deal all round really.

I don't know for sure how much will be paid by who to who. I also don't know if it is for just the stadium or is it for the whole thing like SISU wanted.

If it is for the whole arena at the rate that you have stated then heads need to roll. I will wait for the full details to come out before calling anyone on a guess.