Coventry City owners invite council to talks over Sky Blues returning to Ricoh Arena (2 Viewers)

sky blue john

Well-Known Member
Some are saying which i also thought was a possible solution and that is to purchase Acl. But that doesn't automatically gurantee an income ?
 

valiant15

New Member
spot on, this is the only thing that makes sense to me as a means to SISU getting their money back. pick up the freehold for well below market value, load as much debt as possible against the freehold. use that money to pay off the clubs 'debt' to SISU and then just walk away or stop paying the bills and wait for us to go into admin. the worry then would be what happens to that debt, if it's tied in anyway to CCFC we have problems for decades to come.

This is exactly what im thinking. Its the only way they'll get some of their money back.

Ccfc will be shafted for decades.
 

shmmeee

Well-Known Member
But do they? They ask for a price based on independant valuation - if they pay that, it won't be peanuts.

Is that normal? You know about this stuff more than me. How usual is it for a company to demand an independent valuation of something that isn't "for sale" before making a bid? Particularly through the press.
 

shmmeee

Well-Known Member
Some are saying which i also thought was a possible solution and that is to purchase Acl. But that doesn't automatically gurantee an income ?

It's the only thing that would apart from selling off the development land (which I would ask: if that's so easy, why haven't CCC done it already?).

I'd guess the first move on ownership of the freehold would be to call the lease to ACL illegal and go about hiking up the rent. But ACL is where any profits from concerts, hotels, conferences, etc comes from.
 

fernandopartridge

Well-Known Member
Is that normal? You know about this stuff more than me. How usual is it for a company to demand an independent valuation of something that isn't "for sale" before making a bid? Particularly through the press.

In truth nothing is 'normal'. It would be the sale of a non standard property, it's hard to value.

The circumstances surrounding the whole saga are pretty unique (some might say) so to look for something to compare it with is quite difficult.
 

torchomatic

Well-Known Member
Which is why ACL/CCC are trying to palm the development of the surrounding area onto the Club's owners, or potential owners when they were all over PH4 like a rash. Which reminds me. I thought he was buying the Ricoh...

It's the only thing that would apart from selling off the development land (which I would ask: if that's so easy, why haven't CCC done it already?).
 

sky blue john

Well-Known Member
In terms of freehold valuation we know that it couldn't be under 14million because that is the value of the outstanding loan !!!
So if Sisu are proposing less than that it isn't going to happen !!
 

torchomatic

Well-Known Member
There are different "pots", capital and revenue.

I was always of the understanding that the council is funded by council tax which I pay so yes it is my money
 

Godiva

Well-Known Member
Is that normal? You know about this stuff more than me. How usual is it for a company to demand an independent valuation of something that isn't "for sale" before making a bid? Particularly through the press.

I think it was a suggestion made some times ago, that both parties should appoint their own choice of independant valuators and that a price could be agreed as the average of the two.

But again - if CCC are not interested in selling to the club under sisu ownership, then that's their choice and we should be told clearly. Then it will be up to sisu if they will build a new stadium and if so we should expect the CCC to fully support that decision.
 

Sub

Well-Known Member
would getting an indepentant valuation make any difference to the court case against the council if the valuation is less than the 14million the council loaned ACL ?
 

Astute

Well-Known Member
I was always of the understanding that the council is funded by council tax which I pay so yes it is my money

But the loan was made by a loan company and not out of council funds. So how can this be our money?
 

Nonleagueherewecome

Well-Known Member
would getting an indepentant valuation make any difference to the court case against the council if the valuation is less than the 14million the council loaned ACL ?

Why should there be an independent valutation? That doesn't happen in 99.999999999999999999999999999% of business tramnsactions, why now? Becase Joy's a spoilt little bitch looking for a bargain?

I do love the statement. "We generally try to avoid tit-for-tat press releases and hadn’t intended to respond to the statement rushed out by Cllr Lucas following the demonstration by fans outside the council house."

"We don't do spin. Oh btw, here's some spin ;)"


If that CCC statement was a response to the piss-poor protest the other week, then perhaps Joy's interview with Reid was a response to NOPM?
 

Sub

Well-Known Member
Why should there be an independent valutation? That doesn't happen in 99.999999999999999999999999999% of business tramnsactions, why now? Becase Joy's a spoilt little bitch looking for a bargain?

I do love the statement. "We generally try to avoid tit-for-tat press releases and hadn’t intended to respond to the statement rushed out by Cllr Lucas following the demonstration by fans outside the council house."

"We don't do spin. Oh btw, here's some spin ;)"


If that CCC statement was a response to the piss-poor protest the other week, then perhaps Joy's interview with Reid was a response to NOPM?


i am not saying there should be just asking a question if a valuation was done and its less than the loan the council made would it effect the court case?
 

RoboCCFC90

Well-Known Member
I think it was a suggestion made some times ago, that both parties should appoint their own choice of independant valuators and that a price could be agreed as the average of the two.

But again - if CCC are not interested in selling to the club under sisu ownership, then that's their choice and we should be told clearly. Then it will be up to sisu if they will build a new stadium and if so we should expect the CCC to fully support that decision.

Something I believe hasn't been done so far Godiva.

SISU mentioned the independent valuator in their statement, reading between the lines it sounds like if CCC get a price SISU maybe willing to meet it, I agree with the idea mentioned earlier in your post, I call it 'Location, Location, Location Style Valuation' get two independent valuator's and using the two prices determine a fair average as a selling price.
 

lewys33

Well-Known Member
i am not saying there should be just asking a question if a valuation was done and its less than the loan the council made would it effect the court case?

Not a bad point. They may try and use it as evidence against the loan, however surely that would have to include a valuation of ACL and other things as well. I would imagine they would also have to prove the valuation is fair.
 
I was always of the understanding that the council is funded by council tax which I pay so yes it is my money

Not quite. The council is funded partly by council tax payers (something of the order of 15% - 20%) with the rest coming from the government from general taxation, so I also have an interest as a general tax payer.

So it's my money as well.
 

lewys33

Well-Known Member
Something I believe hasn't been done so far Godiva.

SISU mentioned the independent valuator in their statement, reading between the lines it sounds like if CCC get a price SISU maybe willing to meet it, I agree with the idea mentioned earlier in your post, I call it 'Location, Location, Location Style Valuation' get two independent valuator's and using the two prices determine a fair average as a selling price.

I don't see why CCC would pay for an independent valuation on something they have not expressed a desire to sell?
 

torchomatic

Well-Known Member
Also. They can only spend capital (i.e. money from central government) on certain things. For example, a council service maybe be woefully short on staff. However, the authority can't use capital money to pay for staff, only revenue which they may not have much of.

Which is why you get crazy schemes such as spending £1.4M on doing up the road outside the council house while services go to pot.

Not quite. The council is funded partly by council tax payers (something of the order of 15% - 20%) with the rest coming from the government from general taxation, so I also have an interest as a general tax payer.

So it's my money as well.
 

martcov

Well-Known Member
Joy could have replied to Ann's statement by writing to her privately, arranging a meeting with no preconditions and then come out of the meeting with a joint statement whereby both sides confirm what they have agreed or not agreed. Then we would all know where we stand and in which direction CCFC is going. So this release is unprofessional and a blatant propaganda attempt to redress the damage caused by NOPM and Ann Lucas' statement which shows SISU in a bad light. It only annoys the council. With a joint statement we would know if a valuation was even necessary before discussing it. We don't need these tit for tat statements, we need professional and courteous discussions. A better opening move would have been to drop the JR.
 

torchomatic

Well-Known Member
Well, they certainly had the "desire" in the past, haven't they? If they don't want to sell to SISU then at least we can all move on. SISU can build their stadium and CCC will have their own sports arena.

I don't see why CCC would pay for an independent valuation on something they have not expressed a desire to sell?
 

lewys33

Well-Known Member
A better statement would have been:

"SISU has decided that in the best interests of CCFC and its investors the JR will be dropped, and JS will be writing privately to AL shortly to arrange a meeting date to discuss the purchase of The Ricoh Arena."

What would be so wrong in SISU admitting defeat on something for once?
 

torchomatic

Well-Known Member
They've both blabbed to the press in the past. Remember Lucas' "Woman to Woman" statement. How do you view that? Differently, I guess.

Joy could have replied to Ann's statement by writing to her privately, arranging a meeting with no preconditions and then come out of the meeting with a joint statement whereby both sides confirm what they have agreed or not agreed. Then we would all know where we stand and in which direction CCFC is going. So this release is unprofessional and a blatant propaganda attempt to redress the damage caused by NOPM and Ann Lucas' statement which shows SISU in a bad light. It only annoys the council. With a joint statement we would know if a valuation was even necessary before discussing it. We don't need these tit for tat statements, we need professional and courteous discussions. A better opening move would have been to drop the JR.
 

lewys33

Well-Known Member
Well, they certainly had the "desire" in the past, haven't they? If they don't want to sell to SISU then at least we can all move on. SISU can build their stadium and CCC will have their own sports arena.

I agree to an extent. I don't think desire is the right word. We could go over that question a 1000 times over with different scenarios really. I think SISU should be the ones bending over backwards to get the meeting in place for the Ricoh in my opinion because as it stands CCC/ACL have nothing to do with the club. So if they feel they need an independent valuation that is fine, but I dont see why CCC need one.
 

torchomatic

Well-Known Member
Well, they've done what many on here were clamouring for, they've made the first move. They've asked for a meeting. Let's see how the Council respond. If the Council say "no deal with SISU" then come out and be honest and say it. And I also agree in the statement that Lucas should clarify why she rejected the CVA.

I think SISU should be the ones bending over backwards to get the meeting in place for the Ricoh in my opinion because as it stands CCC/ACL have nothing to do with the club. So if they feel they need an independent valuation that is fine, but I dont see why CCC need one.
 

ajsccfc

Well-Known Member
So does my licence fee pay for Eastenders? Only I'm planning to use it to lure that Branning girl.
 

lewys33

Well-Known Member
Well, they've done what many on here were clamouring for, they've made the first move. They've asked for a meeting. Let's see how the Council respond. If the Council say "no deal with SISU" then come out and be honest and say it. And I also agree in the statement that Lucas should clarify why she rejected the CVA.

Have they really made the first move? What is the point is the public "we are happy to talk" bullshit that they are both spouting. Like I said why would the council meet when the JR is still going on. If they had made a statement saying "We have dropped the JR and JS will be talking to Ann shortly about a meeting" then bravo! Ball moves more in to CCC court. But as it stands I still think SISU should be doing the chasing.

Why should CCC make the first move?? Coventry City FC no longer have anything to do with them am I wrong?
 

martcov

Well-Known Member
I view the fact that JS will now be writing as great, but she could have done that without this tit for tat statement. We have to move forward and end this endless speculation. A meeting away from the crowd to lay down once and for all, where they can agree and where not is what is needed. What could they do to come together? Statement to opposing statement brings nothing. See the history. A joint statement agreed by both parties is what is needed. When they cannot agree to work together then so be it. The end. Then build the pie in the sky stadium. The council would have to judge any planning application on it's merits - by law. ACL would have to broaden it's business......and we really move on...
 

RoboCCFC90

Well-Known Member
I don't see why CCC would pay for an independent valuation on something they have not expressed a desire to sell?

You could flip that the other way round and say why not have a valuation on a business they haven't ruled out on selling?
 

torchomatic

Well-Known Member
The problem is when it gets that petty then there is a real danger that nothing will happen as no one wants to blink first. Obviously you're all for ACL/CCC fair enough, I get that. Personally, I don't care who blinks first as long as a deal can be negotiated. In ten, twenty, fifty years time, will it matter as long as a deal was made and Coventry City are back playing where they belong? Not for me.

Why should CCC make the first move?? Coventry City FC no longer have anything to do with them am I wrong?
 

lewys33

Well-Known Member
The problem is when it gets that petty then there is a real danger that nothing will happen as no one wants to blink first. Obviously you're all for ACL/CCC fair enough, I get that. Personally, I don't care who blinks first as long as a deal can be negotiated. In ten, twenty, fifty years time, will it matter as long as a deal was made and Coventry City are back playing where they belong? Not for me.

Im not "all for" ACL/CCC at all. It just annoys me that people are still including them in all of this when we are past that. They have nothing to do with us anymore. If SISU want the Ricoh they need to make the approach.
 

RoboCCFC90

Well-Known Member
The problem is when it gets that petty then there is a real danger that nothing will happen as no one wants to blink first. Obviously you're all for ACL/CCC fair enough, I get that. Personally, I don't care who blinks first as long as a deal can be negotiated. In ten, twenty, fifty years time, will it matter as long as a deal was made and Coventry City are back playing where they belong? Not for me.

Hence why the Trust need to step in now, the Trust can say to Fisher and Ann Lucas, we can mediate a meeting between the club and the council to discuss the purchase of the freehold, at x date and x time. Get the parties talking and then drop the idea of independent valuation idea in, so that both parties can think of this as fair discussions.
 
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