shropshirecov
New Member
....the club needs to own the stadium?
Just asking
Just asking
Does everyone agree? (1 Viewer)
- Thread starter shropshirecov
- Start date
Sky Blue Pete
Well-Known Member
Yep but sisu wont ever get their hands on it
Diehard Si
New Member
What he said
Flying Fokker
Well-Known Member
Ditto........
sky blue john
Well-Known Member
that is why i see no way forward and no long term future for the club with sisu as owners.
And i can't understand why certain people don't see that.
And i can't understand why certain people don't see that.
Otis
Well-Known Member
Totally agree.
Would you give the stadium to people you believed to be dishonest though?
The stadium is available there for the right owner.
coundonskyblue
New Member
Yes, with new owners.
torchomatic
Well-Known Member
Of course. Let's hope the new lot - whoever they may be - are acceptable to PWKH or else it'll all start again.
ampthill_sba
New Member
Agreed...SISU don't appear to be able to get the ground even if they have the resources to buy it. The High Court might feel though that ACL have been unlawful in refusing to sell to SISU as CCFC have the right to purchase...
...watch this space
...watch this space
Snozz_is_god
New Member
From everything I've heard, I think ACL agree with this as well. The problem is ACL don't believe SISU are the right people to own it.
Danceswithhorses
Well-Known Member
Unlawful in refusing to sell to SISU ?
IIRC, there was a formula for CCFC to buy back the 50% stake held by the Higgs Charity, but that lapsed ie CCFC didn't take up the option.
CCFC has no RIGHT to buy, just an option, which the seller can refuse, quite legally
Black6Osprey
New Member
Yes we need it but SISU will never get it so need to go.
My question is will they let someone else have it for a reasonable price rather than trying to quadruple their money and without all the additional development conditions?
I've got my doubts and IMO just having the Higgs share will never be enough so a new buyer will be hard to find.
My question is will they let someone else have it for a reasonable price rather than trying to quadruple their money and without all the additional development conditions?
I've got my doubts and IMO just having the Higgs share will never be enough so a new buyer will be hard to find.
oldskyblue58
CCFC Finance Director
yes, i think everyone wants to see that
so long as the club doesn't mortgage it up to the eyeballs and spend that on failure (ie i can see the need to mortgage it to buy it , but the mortgage is paid....but to mortgage it to throw the money at the team I am not sure is a good idea - look where it got us before)
First thing the club needs however is the income streams from matches, events, conferences and exhibitions etc and the club do not need to own the stadium to do that
so long as the club doesn't mortgage it up to the eyeballs and spend that on failure (ie i can see the need to mortgage it to buy it , but the mortgage is paid....but to mortgage it to throw the money at the team I am not sure is a good idea - look where it got us before)
First thing the club needs however is the income streams from matches, events, conferences and exhibitions etc and the club do not need to own the stadium to do that
oldskyblue58
CCFC Finance Director
not sure the option to buy will exist much longer because it is held in CCFC Limited I believe.
Danceswithhorses
Well-Known Member
Do you really think the council wants to keep hold of their 50% share in ACL ?
No party in this farce of a situation can be enjoying the embarrasing and divisive slanging matches which have even reached the national courts.
IF we had reliable and trustworthy owners, i'm sure the council would sell it without a hesitation...in fact, i bet they wish they'd never got involved at all.
hutch1972
Well-Known Member
There will always be a reason why ccc will not sell, unless someone pays a ridiculous price for the stadium and agrees to re-build half the city for them they will not sell regardless of who wants it.
Danceswithhorses
Well-Known Member
Poor choice of words on my part in the last sentence ie option...i just meant that CCFC could choose to make an offer if they so wished, just like anyone really, and Higgs Charity could refuse.
Gynnsthetonic
Well-Known Member
CCC seem to want a buyer to come in buy the club and develop the land around the stadium. Why! this is nothing to do with the football club and should be seperate , thats why i cant see a buyer for CCFC
hopesprings
Well-Known Member
I really do not see that owning the stadium is a necessity. IF the council /Higgs Trust/ACL let the club play at the Ricoh for free and give all match day earnings food beverage car park) to the club. Does that not mean we do not have any overheads ie rent or mortgage payments. Hopefully the owners would also have the cost of all the maintenance of the stands and ground and car parks. 
Perfect well not for the council/Higgs or ACL obviously!
Perfect well not for the council/Higgs or ACL obviously!
Danceswithhorses
Well-Known Member
If CCFC did buy the stadium and land, they would go into partnership with a developer, who have far more expertise in that area, and share the profits accordingly....makes total sense.
We can only dream that things could be that simple.
J
Jack Griffin
Guest
One way forward is for the council to sell half their share of ACL to private developers, provided the purchasers enter into a contract to develop the area (promises are not enough).
The intention being to sell the remainder as soon as the new owners have completed the planned develoment.
The option for the Higgs share becomes available in 2 years (or maybe sooner depending on the courts) and at that point they could start thier exit strategy in a similar manner.
When the development is complete the new owners take complete charge, till then the council/higgs probably need to retain a majority shareholding.
But the stumbling block is of course the League Golden Share. Without that and the possibility of having CCFC at the Ricoh new owners will be less likey to invest.
I think the court case wlll center around ownership of the League Golden Share, currently CCFC(Holdings) Ltd are trying to claim it from CCFC Ltd, the administrator is investigating.
Can it be purchased from the administrators? I'm sure there will be a battle for it.
The intention being to sell the remainder as soon as the new owners have completed the planned develoment.
The option for the Higgs share becomes available in 2 years (or maybe sooner depending on the courts) and at that point they could start thier exit strategy in a similar manner.
When the development is complete the new owners take complete charge, till then the council/higgs probably need to retain a majority shareholding.
But the stumbling block is of course the League Golden Share. Without that and the possibility of having CCFC at the Ricoh new owners will be less likey to invest.
I think the court case wlll center around ownership of the League Golden Share, currently CCFC(Holdings) Ltd are trying to claim it from CCFC Ltd, the administrator is investigating.
Can it be purchased from the administrators? I'm sure there will be a battle for it.
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Gaz
Well-Known Member
Yes I really think the council wouldn't want to part with there share.
Infact I can see them being a major sticking point in anyone trying to take full ownership of the Ricoh.
No doubt they aren't enjoying this whole sorry saga, but that doesn't mean they would want shot of there share asap if at all.
stupot07
Well-Known Member
The first 2 paragraphs of this seem to have nothing to do with the football club.
Delboycov
Active Member
SISU came in to the club years ago and immediately said one of the first things they were going to do was obtain a stake in the Ricoh. The reason they haven't has been down to them and their mismanagement of the club and possible lack of resources and not ACL/Higgs Trust refusing to sell to them. The mistrust of them has only been an issue in the latter part of their their tenure when they've shown themselves to be completely underhand,duplicitous and ruthless in their attempts at distressing ACL and fleecing a charity. They have nobody to blame for not being able to get their grubby little hands on the stadium but themselves.
sky_blue_up_north
Well-Known Member
its the only way we will ever be successful, without it we will go out business forever
Gynnsthetonic
Well-Known Member
Why should CCFC buy the land though, perhaps they don`t want too and can`t afford to, as PF said last night he would have 4 to 5 buyers if the Higgs and council would except the same money what they put into the stadium
elephanttears
New Member
fuck off Pete, Sisu is CCFC and they are trying to get the football club where it needs to be. You need to grow a spine
J
Jack Griffin
Guest
I disagree elephanttears, SISU are only interested in a profitable exit strategy, the fortunes of the club may be related to that objective but ultimately they are entirely inconsequential to them.
If they ever get a chance to show a profit they'll be out of here, until then they'll fight tooth and nali.
If they ever get a chance to show a profit they'll be out of here, until then they'll fight tooth and nali.
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oldskyblue58
CCFC Finance Director
Think people misunderstand. ACL own the lease for the site not just the stadium. Anyone coming in doesnt need to buy the land but they do need the council to extend the lease to 99 or 125 year...... nowhere near as costly, in fact might not cost anything in the right deal. The Council & Charity are not set up to develop the site and it will need some some capital to start it up that neither have. So they want a partner or new owner with sufficient clout to get it done. To do that they need someone who buys in to both club and site , and CCC & Charity are prepared to give up operations income to the right new party. It doesnt mean that the new owner has to do the developing only that they are the catalyst to get it done and can provide some seed money to do it
Black6Osprey
New Member
I don't think anyone is expecting a new owner to get his trowel out but in terms of money to get the area developed how much as we talking?
Are you suggesting a new owner for the club will gain control of all the income steams in return for this development?
If not how much to get all the income streams and will an investor ever get a return?
coundonskyblue
New Member
I dont get this idea about developing the area costing money. The whole point of it is to make money and generate income for the club.
Black6Osprey
New Member
So how do you develop land for free?
I'd heard of the Midas touch but you must be one rich guy.
