So are you saying that SISU aren't robbing bastards??
FFS.....:facepalm:
What actual profit (money) have they taken away from the club. I want details.
I'm not pro Sisu before people start, but bollocks like this winds me up.
So are you saying that SISU aren't robbing bastards??
FFS.....:facepalm:
The £40M price tag is an unatributable estimate by 'Telegraph Sources'.
When asked about the £4M price tag, PKWH declined to comment.
- In conclusion, this is a story made up from rumour.
- Reality may well be substantially different.
- Really, it had better be if CCC want the club to thrive.
I doubt it will be that much out of pocket on the deal taking into account the first 5 years when £1.3m rent pa was received.
the councils half might be higher because thay have recently just pumped in 14 million i think. also when they first stumped up the tax payers money, it was done on the proviso that they made some back to plough back into the funds
thre is another question actually.. what exactly was the 14 million for, that they had to pump in ?? they said it was to pay off the mortgage if i remember correctly.. but if ACL had a mortgage, then does that mean the initial money they were supposed ot have put in, was never actually put in, but just raised against a mortgage ?
New to me this story but not far off what I have been calling for if true and would be the scenario that SISU wanted and any other investor requires in order to move forward.
I suggest the £40m or so to buy out ACL and Higgs is to regain the lease in whole for the 49 year period (renewable and transferable) of the Ricoh and all it's various operations inclusive of all tenancies held there?
This would be invaluable to the football club providing all revenue streams associated with it. They would have a rent to pay to the freeholders - CCC which would have to be realistic and sustainable while bearing in mind all council cost remaining (any loans they have etc) and reflective of what they have put in and are owed not merely based on the current value of the freehold which they will continue to hold and keep.
The alternative would be an outright purchase of the freehold which would surely be in the £120m plus area.
stupot you forgot the loan repayments are substantially reduced due to the debt being restructured, so that is why ACL were able to offer CCFC a reduction £400K pa rent and hand back the ~£80K pa F&B profit they take ATM.. that package is worth about £1M pa and one must presume still leaves ACL with a positive cash flow.
Why would you pay £44m upfront to just get it back £1m per annum? Sounds very expensive to me.
Why would you pay £44m upfront to just get it back £1m per annum? Sounds very expensive to me.
For heavens sake, no one is gonna compensate the owners of CCFC for their past scew ups. Come visit the real world.
For heavens sake, no one is gonna compensate the owners of CCFC for their past scew ups. Come visit the real world.
New to me this story but not far off what I have been calling for if true and would be the scenario that SISU wanted and any other investor requires in order to move forward.
I suggest the £40m or so to buy out ACL and Higgs is to regain the lease in whole for the 49 year period (renewable and transferable) of the Ricoh and all it's various operations inclusive of all tenancies held there?
This would be invaluable to the football club providing all revenue streams associated with it. They would have a rent to pay to the freeholders - CCC which would have to be realistic and sustainable while bearing in mind all council cost remaining (any loans they have etc) and reflective of what they have put in and are owed not merely based on the current value of the freehold which they will continue to hold and keep.
The alternative would be an outright purchase of the freehold which would surely be in the £120m plus area.
Randy Learner paid 62 million for all of aston villa (including villa park and it's large portfolio of property in north birmingham) nobody is gonna pay the sorts of sums being banded about on here for the ricoh.
Leicester's recent 18 million buy back would seem a bit nearer the mark. Then again, I'm not a council tax payer in Coventry so i've no right to comment.
Did Lerner get the freehold to all of that property?
£44m is for the Ricoh and nothing to do with ccfc.
so if they were asking for 40 million, 14 million would go to pay off what their share is actually worth.. and the other36 million is what they want for filling out a bit of mortgage paperwork a few years ago & covering that amount for the last few months ?Think they took out a loan from Yorkshire Bank to pay the lease and when YB got a bit worried about the rent situation the council gave them a loan to pay of Yorkshire Bank so to answer your question I don't think ACL put any money in themselves.
Where has the 4m. for the Higgs share suddenly come from?.....source/link. I thought that they had originally paid something in the region of 10m.
Where has the 4m. for the Higgs share suddenly come from?.....source/link. I thought that they had originally paid something in the region of 10m.
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