dongonzalos
Well-Known Member
For ACL ? I thought that was for the Ricoh?
You mean buy the shares? At a fair value? Yes?
Then we agree - when do we start asking CCC to accept sisu's invitation to do an independent valuation? Or two?
The Ricoh cost 120 million to build.
You are missing the point as usual.
You will accept SISU's aim is to get their money back.
The stadium is their proposed solution to do this.
Simple question how?
You know full well I think it is up to SISU to take the initiative on this, they need to get a valuation done & make an opening offer, they are the buyer.
For how much?
For ACL ? I thought that was for the Ricoh?
The Ricoh cost 120 million to build.
You are missing the point as usual.
You will accept SISU's aim is to get their money back.
The stadium is their proposed solution to do this.
Simple question how?
If they buy the shares in ACL and get a 99yr long lease it's practical the same as owning the Ricoh ... only the bricks and mortar is still owned by CCC.
But the club and stadium will be united under the same owner (SBS&L) and all revenue 360 days/yr will belong to the club and count towards the FFP.
So why is Joy saying freehold only?
I think that is posturing. She is taking an extreme position giving room for negotiation.
She is in no hurry - she is not too concerned about us playing at Sixfields.
She is counting on the upcoming JR - if they win her position will be much stronger.
It shouldn't really be the outcome of the JR that determines the future of our club.
So CCC needs to enter into negotiation, agree to sell their shares in ACL and to extend the lease to 99yr or more. All at a fair price set by independent valuation.
Then maybe(!) one condition CCC could push through is sisu dropping the JR.
I think they have taken the initiative. A valuation require a due diligence. For that you need access to the accounts, contracts and everything legal.
As no part trust the other a valuation should be made by independent consultants. preferably by two independent consultants - one appointed by each.
CCC says no.
It is costing her every month though.
In addition ACL are trying desperately to get other business. If they succeed or SISU lose the JR. That is expensive posturing.
Not sure when AL came in JS did not take the olive branch then and do the deal if that us what she wanted.
Can't help but think that was never in the cards and distressing ACL was always and is always the only plan
Where do you get a loyalty to sisu from?? Who says the Ricoh should be given to sisu??Why don't sisu do the decent thing and leave then eh.
Your loyalty to sisu disgusts me.
Id rather the Ricoh burn down than be given to sisu.
Where do you get a loyalty to sisu from?? Who says the Ricoh should be given to sisu??
As for your last comment, well I suppose staying at sixfields is what you would prefer??
Why don't sisu do the decent thing and leave then eh.
Your loyalty to sisu disgusts me.
Id rather the Ricoh burn down than be given to sisu.
Ann Lucas never offered an olive branch, did she? A new rental agreement is out of the question if we want to return to top flight football. A new rental agreement is all Ann Lucas has ever suggested.
I think it is unlikely sisu can distress ACL. Even if ACL need to replace their £14m loan it should be possible - at a higher interest yes, but nothing that should endanger the profitability. Of course the presumption is based on ACL telling truth about being able to live and thrive without the club.
But I think it is beside the point and also quite out of our hands. What is the point is how the club can get back to the top flight in our lifetime.
You've never tried to get them out.It seems pretty clear we can't force sisu out. Every trick in the book has been tested - and sisu are still here.
I'd rather we returned to the Ricoh owning ACL and start moving back to top level football.
You've never tried to get them out.
Get to the top level? You're having a laugh right?
That requires investment. Something sisu will never do.
According to our resident forensic accountant they have secured investment of some £30m+ till now.
Returning to top level football require a competitive FFP level. That is only possible with the club owning the revenue of ACL.
They've had over 6 years to do something about it.
Sisu are up the creek without a paddle. Tough shit.
They won't get their investment back. Ever.
Fine. I think we can all live with that.
But what about our club?
We need ACL as part of the club - no matter who owns the club.
I would be delighted if the club purchased acl. Why don't they put in an offer?
And by offer I mean a fair market price done properly and professionally. Not the normal. blackmail and intimidation that we have seen from sisu.
Fine. I think we can all live with that.
But what about our club?
We need ACL as part of the club - no matter who owns the club.
I would be delighted if the club purchased acl. Why don't they put in an offer?
And by offer I mean a fair market price done properly and professionally. Not the normal. blackmail and intimidation that we have seen from sisu.
Hopefully sisu will throw the towel in after they lose the judicial review. The new owner can then treat other partieswith respect and gain acl and the stadium.
Sisu are a busted flush in Coventry. Nobody apart from the traitor garlick will do business with them.
To make an offer you need a valuation. To find a valuation you need access to the full and present accounts as well as contracts and other legal obligations ... a due diligence. That require acceptance from ACL.
Isn't that what sisu is asking?
Let two independent consultants one appointed by sisu and one by CCC/ACL each perform a due diligence and calculate the value. Make their findings public. Let the average of the two valuations be the selling price.
Sounds fair to me.
But CCC won't have it.
That's why we're no closer to home.
who are Arvo ?, is it another sisu disguise ?Who do you think will be the new owner if sisu decides to walk should they lose the JR?
My favourite (I don't mean they are my preferred new owners, but the most likely!) is ARVO - will that make you any happier?
who are Arvo ?, is it another sisu disguise ?
Sisu had all that in the palm of their hand. Higgs wanted to sell and the club had an agreed formula to buy it.
Unfortunately someone then decided to liquidate the club, losing the automatic right to that agreed formula.
As for getting a valuation, what if the valuation doesn't meet what the council value the Ricoh at in their accounts?
Selling below that would mean a loss from the councils point of view. Should public funds be used to correct the mistakes of an incompetent hedge fund?
who are Arvo ?, is it another sisu disguise ?
Our debt free club effectively owe money to Arvo.
Surely the ccc's accounts show the real value of ACL? Otherwise you are accusing them of ... ehm ...creative bookkeeping. In any case - if their books shows a false value it should be corrected independently of any outside circumstances!
Are you saying every valuation of a business is always the same? If that's the case why is there a need for two valuations?
Sisu had all that in the palm of their hand. Higgs wanted to sell and the club had an agreed formula to buy it.
Unfortunately someone then decided to liquidate the club, losing the automatic right to that agreed formula.
As for getting a valuation, what if the valuation doesn't meet what the council value the Ricoh at in their accounts?
Selling below that would mean a loss from the councils point of view. Should public funds be used to correct the mistakes of an incompetent hedge fund?
I think they have taken the initiative. A valuation require a due diligence. For that you need access to the accounts, contracts and everything legal.
As no part trust the other a valuation should be made by independent consultants. preferably by two independent consultants - one appointed by each.
You can do a valuation without access to all of that, happens all the time. You make an offer based on what you believe it is worth but make the offer conditional based on the results of due diligence being satisfactoty and / or any other conditions you want to put in.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?