Joy must never ever get her 60 million back (1 Viewer)

Cheer the council? They tried to bust SISU didn't they before when we went into admin? Some may say the council PR team is on overtime this weekend, well they would if it was "Timmy".

Definitely shouldn't sell the Ricoh at less than it is worth, the only reason to do that would be if the Arena is making huge losses.

If it is sold then their should be an open bidding process.

Nick said:

Cheer the council? They tried to bust SISU didn't they before when we went into admin? Some may say the council PR team is on overtime this weekend, well they would if it was "Timmy".

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Awww cmon we were doing so well without calling each other plants today.

Nick said:

Cheer the council? They tried to bust SISU didn't they before when we went into admin? Some may say the council PR team is on overtime this weekend, well they would if it was "Timmy".

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Good.

shmmeee said:

Awww cmon we were doing so well without calling each other plants today.

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Behave yourself daffodil...

Snozz_is_god said:

So stop all this stupid talk about giving the Ricoh to SISU.

Here's a radical idea, rather than protest at the Council House on Tuesday, turn up and cheer them, because they still hold the key to busting SISU.

If CCC & ACL hold on to the Ricoh Arena and make even a small profit, enough to continue to pay the loan

SISU will be defeated as they will not throw good money after bad for any sustained period of time, mark my words.

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Yes let's cheer them;

- worst council rental arrangement in football history
- first time the club has been in administration is when playing as a tenant in their stadium
- first time the club nearly went bankrupt is when playing as a tenant in their stadium
- rejection of CVA means the club is outside the top 6
- forcing the club into administration last season derailing a promotion push

Yes let's cheer them. When it comes to selfishness, greed and utter duplicity even sisu are in virgin territory compared to CCC and ACL.

Snozz_is_god said:

So stop all this stupid talk about giving the Ricoh to SISU.

Here's a radical idea, rather than protest at the Council House on Tuesday, turn up and cheer them, because they still hold the key to busting SISU.

If CCC & ACL hold on to the Ricoh Arena and make even a small profit, enough to continue to pay the loan

SISU will be defeated as they will not throw good money after bad for any sustained period of time, mark my words.

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Play up ACL.

I'm lost for words.

Grendel said:

Yes let's cheer them;

- worst council rental arrangement in football history
- first time the club has been in administration is when playing as a tenant in their stadium
- first time the club nearly went bankrupt is when playing as a tenant in their stadium
- rejection of CVA means the club is outside the top 6
- forcing the club into administration last season derailing a promotion push

Yes let's cheer them. When it comes to selfishness, greed and utter duplicity even sisu are in virgin territory compared to CCC and ACL.

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Grendal, you are renowned for statements of complete stupidity. but this beats them all.

Snozz_is_god said:

So stop all this stupid talk about giving the Ricoh to SISU.

Here's a radical idea, rather than protest at the Council House on Tuesday, turn up and cheer them, because they still hold the key to busting SISU.

If CCC & ACL hold on to the Ricoh Arena and make even a small profit, enough to continue to pay the loan

SISU will be defeated as they will not throw good money after bad for any sustained period of time, mark my words.

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Crazy ape batshit mental!

Snozz_is_god said:

1/ Not the councils fault that the previous owners negotiated the deal, SISU took over the club knowing precisely what the rent was. due diligence and all that
2/ What's that to do with the price of fish, it's a stupid as saying it the first time the club went into administration while we had a coalition government. dumb
3/ The club as been on the verge of bankruptcy since the early days of Brian Richardson tenureship & we fully owned Highfield Road then.
4/ From a business point of view they had no option to reject the CVA, accepting it would of been a tacit approval of a process, a process they clearly had no faith in.
5/ They didn't put the club into administration, SISU did. If ACL had succeeded & engaged their preferred administrator, we would of been in a far better position today.

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Of course it is the council's fault, they set the price? Did they offer to rent it for a fiver but the club said actually I'd rather give you a lot more?

Any proof we would be in a better position? Surely if they hadn't tried to put us into admin then sisu wouldn't have had to?

Snozz_is_god said:

a major city asset

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How is the Ricoh at this current time a major city asset, having been bailed out by the Council and having no sitting tenant (and I am not talking about the smaller tenants)

I think it is pretty safe to say, whatever happens Joy won't be getting her £60 million back, or anything near it. Unless of course we can convince Real Madrid Cyrus Christie is a right sided Gareth Bale.

Grendel said:

Yes let's cheer them;

- worst council rental arrangement in football history
- first time the club has been in administration is when playing as a tenant in their stadium
- first time the club nearly went bankrupt is when playing as a tenant in their stadium
- rejection of CVA means the club is outside the top 6
- forcing the club into administration last season derailing a promotion push

Yes let's cheer them. When it comes to selfishness, greed and utter duplicity even sisu are in virgin territory compared to CCC and ACL.

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- debatable, but I have no figures
- First time the club has been in administration is when you were called Grendel and not Duffy, quick change your username back!
- See above!
- No it didn't. The FL themselves say that. The 10 point deduction has nothing to do with the CVA, it was part of the deal to allow Otium to get the GS.
- If I steal your car, I don't "force the Police to send me to jail", that's the consequences of my actions. Don't blame the creditor for the debt.

Also, the club aren't bankrupt and have never been in administration, a non-trading property subsidiary was remember? Or did you forget the party line?

Houdi said:

I think it is pretty safe to say, whatever happens Joy won't be getting her £60 million back, or anything near it. Unless of course we can convince Real Madrid Cyrus Christie is a right sided Gareth Bale.

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In Football Manager I always take Madrid or Man City over and sell them our crap for £40m a time. Maybe we could get a sleeper agent over there?

shmmeee said:

- debatable, but I have no figures
- First time the club has been in administration is when you were called Grendel and not Duffy, quick change your username back!
- See above!
- No it didn't. The FL themselves say that. The 10 point deduction has nothing to do with the CVA, it was part of the deal to allow Otium to get the GS.
- If I steal your car, I don't "force the Police to send me to jail", that's the consequences of my actions. Don't blame the creditor for the debt.

Also, the club aren't bankrupt and have never been in administration, a non-trading property subsidiary was remember? Or did you forget the party line?

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Pretty sure the 10 point deduction was for failure to agree the CVA, that meant ltd was to be liquidated, therefore the FL had to give the GS to Otium not back to Ltd.


Sent from my iPhone using Tapatalk - so please excuse and spelling or grammar errors

Snozz_is_god said:

It takes two to tango & two to make an agreement, the football club signed.

SISU threatened to liquidate the club, or where they just joking to try and gain a commercial advantage.

And you want that sort of organization to run the football club and a major city asset? You're must be joking!

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You said it takes two to tango so surely both are to blame?

Nick said:

Of course it is the council's fault, they set the price? Did they offer to rent it for a fiver but the club said actually I'd rather give you a lot more?

Any proof we would be in a better position? Surely if they hadn't tried to put us into admin then sisu wouldn't have had to?

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They offered a sliding scale rent based on the Highfield Road rent at the time. CCFC rejected it and demanded a fixed one.

shmmeee said:

In Football Manager I always take Madrid or Man City over and sell them our crap for £40m a time. Maybe we could get a sleeper agent over there?

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Fm genie is what you need, Kevin Thornton used to go to Madrid for 60m

dongonzalos said:

They offered a sliding scale rent based on the Highfield Road rent at the time. CCFC rejected it and demanded a fixed one.

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Coventry City 2006 EGM said:

The report had revealed that the club are in talks with the Arena Company, which owns the new stadium, with a view to lowering the £1 million rent to £500,000 while they are in the Championship and rising to £1.5m if and when the club gain promotion

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Nobody's yet posed the questions in depth to ACL about what negotiations, if any, happened, and why any deal was rejected.

Part of the reason nobody's posed the questions is the straight ahead discourse of one side and one side only needing to be held to account.

There are a few other questions it would be nice to know the answers to...

Nick said:

Of course it is the council's fault, they set the price? Did they offer to rent it for a fiver but the club said actually I'd rather give you a lot more?

Any proof we would be in a better position? Surely if they hadn't tried to put us into admin then sisu wouldn't have had to?

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Its worth remembering Paul Fletcher was involved in setting the original price.

Just one of the reasons why I now have no respect for him whenever he starts moaning about how high it is.

Nick with so many negative threads and posts, do me a favour and check the facts please.

The rental agreement was signed in 2003 (allegedly "under duress" or so I'm led to believe) and that's 2 years before the Sky Blues moved in!

Very early on when Geoffrey Robinson was Chairman he wrote to the Council asking for a rent reduction as it was unsustainable and they ignored his pleas. Subsequently he approached the Co-op Bank for a £1 million loan to address the situation, short-term.

However it was just that and as a result put the Club into a situation that could well have meant we'd be out of business but for the 11th hour & 11th minute deal with SISU.

Not defending anybody or taking any sides, just for the record but attempting to put forward a few FACTS.

RFC said:

Nick with so many negative threads and posts, do me a favour and check the facts please.

The rental agreement was signed in 2003 (allegedly "under duress" or so I'm led to believe) and that's 2 years before the Sky Blues moved in!

Very early on when Geoffrey Robinson was Chairman he wrote to the Council asking for a rent reduction as it was unsustainable and they ignored his pleas. Subsequently he approached the Co-op Bank for a £1 million loan to address the situation, short-term.

However it was just that and as a result put the Club into a situation that could well have meant we'd be out of business but for the 11th hour & 11th minute deal with SISU.

Not defending anybody or taking any sides, just for the record but attempting to put forward a few FACTS.

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Here is another.... SISU entered into the agreement to CCFC knowing the rental charge.

RFC said:

Nick with so many negative threads and posts, do me a favour and check the facts please.

The rental agreement was signed in 2003 (allegedly "under duress" or so I'm led to believe) and that's 2 years before the Sky Blues moved in!

Very early on when Geoffrey Robinson was Chairman he wrote to the Council asking for a rent reduction as it was unsustainable and they ignored his pleas. Subsequently he approached the Co-op Bank for a £1 million loan to address the situation, short-term.

However it was just that and as a result put the Club into a situation that could well have meant we'd be out of business but for the 11th hour & 11th minute deal with SISU.

Not defending anybody or taking any sides, just for the record but attempting to put forward a few FACTS.

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I'm not sure what you mean as I haven't tried to state any facts? I think I was the one saying it was acls fault?

ohitsaidwalker king power said:

Here is another.... SISU entered into the agreement to CCFC knowing the rental charge.

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I don't see how that can take any blame away from the council though? How is that a defence?

Nick said:

I don't see how that can take any blame away from the council though? How is that a defence?

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It's not a defense of the council, it's a condemnation of SISU. They went into this knowing what the rent deal was, then after 5 years of trashing the team turn round and blame the council for everything because of the high rent.

Sorry Nick it was not a reply to your post just a general overview of what I read on this site. As for those who reply about SISU knowing about the rent when they took over I agree, they should have known but maybe so much to go through and attend to it was missed, I don't know but they've admitted (Tim Fisher) that they (SISU) did not complete their 'due diligence' correctly, long, long before any of the current participants were in charge.

Nick said:

I'm not sure what you mean as I haven't tried to state any facts? I think I was the one saying it was acls fault?

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RFC said:

Sorry Nick it was not a reply to your post just a general overview of what I read on this site. As for those who reply about SISU knowing about the rent when they took over I agree, they should have known but maybe so much to go through and attend to it was missed, I don't know but they've admitted (Tim Fisher) that they (SISU) did not complete their 'due diligence' correctly, long, long before any of the current participants were in charge.

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Do you have all the articles about Robinson etc?

It's a tough call but I'm putting this one in my diary - but if they're getting up a petition, etc, I'll sign it
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BS34Red
16 Jul 2013
executedwolf, on 16 Jul 2013 - 08:37 AM, said:
There was nothing wrong with Highfield Road, arguably better when it was demolished than Ashton Gate is now.

I won't be going to Northampton.
Their chairman at the time had grand plans, first he proposed the new stadium could be the new national stadium with a roof and also with a pitch that slides in and out, Highfield Road was sold for ten million prior to any work starting at the Ricoh. The plans for the new stadium were drastically scaled back. The council had to step in and fund the project, Coventry were offered terms that if they were in the Premier they would pay a higher rent yet if they slid down the leagues their rent would lower. Coventry thinking they wouldn't get relegated rejected this proposal.

Highfield road was a good decent stadium about a mile from the City centre, however like us it didn't provide no non match day income and was land locked so was unable to expand/develop. As for what happened to the money from the sale of the stadium well...nobody knows as the then chairman went to court to gain a confidentiality order. It is rumoured Coventry gained very little if at all from the sale and some people walked away from Coventry very rich.

redcityman, on 16 Jul 2013 - 10:02 AM, said:
Not necessarily three year though, SISSU have agreed to the deal with Northampton for three years with the option of a further two already in place.

I feel that once the fans accept relocation to Northampton it will be a very long time (if at all) before they get back to Coventry.
I appreciate that, but I feel the one million bond may be enough. I'm surprised they didn't consider playing at the Rugby stadium, Ok only holds 3000 but add a few temporary stands and they would be sorted. There has been problems bubbling away under the surface with Coventry Council ever since the Highfield Road fiasco, Now it's all coming to a head.

Monkeh, on 16 Jul 2013 - 12:08 PM, said:
fans can do nothing about that as its all about the money,
Coventry fans were quick to thank sisu when they prevented them from going into administration a couple of years back,
I don't believe the problem is Sisu anyway they have been trying for years to buy 50% of the ground in order to make some money from gate recepts and catering money,
The problem lays with who ever agreed to that stupid rent structure which was before sisu's time (i think), the local council are only crying foul now because there cash cow has gone,
A few months back Coventry were offered a 50% stake for 6.5 million. Sisu agreed to this and shook hands on the deal, a gentleman's agreement. However a few days later Sisu pulled out of the deal.

As I said above rent was agreed thinking they wouldn't be relegated so could easily afford the rent, they was offered a sliding scale at the time but they rejected it thinking relegation would never happen as they had spent the last 30 years in the top flight.

It's rumoured ACL were in a financial mess and were gonna go into administration, Sisu thought they would then be able to acquire ACL and therefore the stadium on the cheap, However Coventry Council lent ACL the money to pay off their mortgage. This has caused massive friction and Sisu are seeking a judicial review.

Nick said:

I don't see how that can take any blame away from the council though? How is that a defence?

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The council are to blame?

The above is a Bristol City fan debating with others whether they should attend Sixfields or not.

Seems to be aware of a lot for a Bristol fan.