lordsummerisle
Well-Known Member
The council don't think it's viable without the football club, makes you wonder why they risked £15million in shoring it up.
Midlands Today Last Night (1 Viewer)
- Thread starter torchomatic
- Start date
The council don't think it's viable without the football club, makes you wonder why they risked £15million in shoring it up.
Grendel
Well-Known Member
Are Northampton rugby club coming to town? Thought not. I know I am right when simple folk like Dagdad take the other side.
BackRoomRummermill
Well-Known Member
They risked 15M of tax payers money to shore it up.
lordsummerisle
Well-Known Member
Yeah, I just said that.
torchomatic
Well-Known Member
Oh, they won't be happy. I used the "shore up" phrase yesterday and was pulled up about it.
J
Jack Griffin
Guest
No they didn't. It is a debt secured against the Arena..
torchomatic
Well-Known Member
Is that the arena which would almost certainly lose it's sponsorship if the football club were kicked out? The arena which would be best known for plumbing and carp exhibitions?
This just in from Coun. Mutton "Crikey".
This just in from Coun. Mutton "Crikey".
J
Jack Griffin
Guest
Yes, even that is worth significantly more than £14M.
Mary_Mungo_Midge
Well-Known Member
And so you prove my point. Don't have the wherewithal to pick holes in OSB's figures, and therefore simply sneer at people. As stated before, it does you no favours
lordsummerisle
Well-Known Member
You would have thought that the council would have far more detailed figures to peruse than the ones OSB quotes, and they don't think it's viable without the football club.
Mary_Mungo_Midge
Well-Known Member
I've already answered this one. Try reading back
Mary_Mungo_Midge
Well-Known Member
Where gave they stated that? From a financial perspective?
lordsummerisle
Well-Known Member
Try reading back.
RoboCCFC90
Well-Known Member
What do you expect Grendel to do MMM when he is in essence being called an idiot, a muppet and a strange case, he is hardly going to shower these fools with flowers is he?
Grendel and Torch have an opinion and I would have to say it's my opinion as well
Mary_Mungo_Midge
Well-Known Member
Look back. He actually uses the words 'idiot' and 'moronic' in an offering. As such, he's ever liable to get a curt response from others.
And then goes on to tell OSB he doesn't feel comfortable with looking at figures on a thread that's about viability. If you don't understand, don't comment. It's like Barry Chuckle speaking at a G8 summit
Grendel
Well-Known Member
Or indeed you addressing the same summit. When are the Saints coming to town?
RoboCCFC90
Well-Known Member
See more insults.. What is the point? I do see what OSB says and I am sure OSB would suggest that even his figures are not taken from ACL's accounts or he could settle this debate either way..
And before you start another argument you can't finish Paul is the better of the two not Barry!!!!
J
Jack Griffin
Guest
They are taken from ACL's last published accounts? It is a public company you can download them from companies house website.
oldskyblue58
CCFC Finance Director
Trouble is we dont actually have the report itself that was presented to the council do we ........ we dont actually know the context of what was said only a well placed news bite in the CT.
“The CCFC rent is currently criticial to ACL's viability." it could have gone on to say later that if ACL were able to reduce loan costs and overheads based on a agreement of the council then that would safeguard it. We do not actually know. "Currently" could refer to the situation before the meeting, not the situation of a reduced cost base. Can you trust a CT report not to have an angle?. Can you trust the CT not to edit a quote to sensationalise a story ?
There must have been a very persuasive argument in the rest of the report to make the councillors vote unanimously to accept the proposal the report made.
we dont, as usual know, what was actually said, when and by who or even the full details
Those arguing viability isnt possible without CCFC may end up right ........... right now I do not happen to believe they are right. It is just opinions. Dont think you can hang your hat on that quote. All we have is opinions that differ
Right now what is important to both ACL and CCFC is that the two sides agree a viable rent and stabilise the club and stadium. The rest is pretty much irrelevant
“The CCFC rent is currently criticial to ACL's viability." it could have gone on to say later that if ACL were able to reduce loan costs and overheads based on a agreement of the council then that would safeguard it. We do not actually know. "Currently" could refer to the situation before the meeting, not the situation of a reduced cost base. Can you trust a CT report not to have an angle?. Can you trust the CT not to edit a quote to sensationalise a story ?
There must have been a very persuasive argument in the rest of the report to make the councillors vote unanimously to accept the proposal the report made.
we dont, as usual know, what was actually said, when and by who or even the full details
Those arguing viability isnt possible without CCFC may end up right ........... right now I do not happen to believe they are right. It is just opinions. Dont think you can hang your hat on that quote. All we have is opinions that differ
Right now what is important to both ACL and CCFC is that the two sides agree a viable rent and stabilise the club and stadium. The rest is pretty much irrelevant
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BackRoomRummermill
Well-Known Member
hallelujah
ashbyjan
Well-Known Member
As I read the article in the CT the council officers statement was given to Councillors before the vote on the financial restructuring so before the lower loan payments CCFC rent was critical now the lower payments are "alleviating ACL’s dependency on rent from Sky Blues"
So in summary before restructuring CCFC rent was critical now it isn't.
So in summary before restructuring CCFC rent was critical now it isn't.
BackRoomRummermill
Well-Known Member
Thats a very bold summary you have put there 
oldskyblue58
CCFC Finance Director
still think you are wrong chap in thinking ACL cant be successful without CCFC ....... dont get too excited. But on that we will have to differ.
As for enlightenment ...... I give my opinion on here like anyone else....... what I claim as fact are published details. Wasn't me claiming opinion as "without doubt":thinking about:
BackRoomRummermill
Well-Known Member
Can you provide the reference for all your figures ........... i.e from the chief finance at Arena Coventry Ltd the latest finance state and also the evidance from the the Coventry council commercial office?
I see where you say Cov account for a measly 2.4 % of the turnover , can you provide the other 97.6 % income stream where its coming from. Also can you provide the Operating overhead cost of operating ACL and the stadium?
Sounds like you have what I have been looking for if you have ................
Other wise its all 'pie in the sky'
The council tax payers from the City Of Coventry need to and should know
I see where you say Cov account for a measly 2.4 % of the turnover , can you provide the other 97.6 % income stream where its coming from. Also can you provide the Operating overhead cost of operating ACL and the stadium?
Sounds like you have what I have been looking for if you have ................
Other wise its all 'pie in the sky'
The council tax payers from the City Of Coventry need to and should know
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Moff
Well-Known Member
Dont be too hard on yourself MMM, I think you are a bit higher than that, more on the level of Orville, with your constant referalls to OSB's posts he must be your Keith Harris.
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Moff
Well-Known Member
What secured against the Arena that had to be bailed out due to its debt to Yorkshire Bank...I take it we are talking about the same Arena here?
J
Jack Griffin
Guest
The arrangement constitutes a restructuring of debts to a more favourable position, just a common sense thing to do in the circumstance.
Grendel
Well-Known Member
In other words ACL could not afford the mortgage without a bail our (sorry "restructuring")
Sky Blues
Active Member
In other words ACL maybe couldn't afford to offer a rent deal lower than £400,000 before?
BackRoomRummermill
Well-Known Member
I see the debate has moved to the Geoffrey Robinson thread, when you analyze what has been said in this thread I am very surprised , I have no doubt ACL are playing to peoples emotions.
There is a far bigger picture and if you care about CCFC which I suspect you all do as your on the Forum, the likes of SISU and ACL are just passing phases. ( a bit like the big T kit of TALBOT , remember that)
Lets get CCFC back to the Top Flight where they belong.
There is a far bigger picture and if you care about CCFC which I suspect you all do as your on the Forum, the likes of SISU and ACL are just passing phases. ( a bit like the big T kit of TALBOT , remember that
)Lets get CCFC back to the Top Flight where they belong.
Grendel
Well-Known Member
Do favours with who. Unlike you I dont particluar care who likes my views and who doesn't.
The figures quoted make some assumptions and ultimately prove there is no viability unless the Arena company can secure additional reveue from other sources. People have made very simplistic assumptions that other business can be sourced. No such venue like this exists without a permenant residence. From a facility planning perspective you would never develop a venue such as this so near an already established business.
We know nothing about ACL staff and if they would need to employ additional senior staff to secure and manage such projects (at significant cost). Having a permenant residence is important from a marketing and brand identity perspective and the main sponsor exisits because of the club.
You made some silly assertion we could attract Northampton - strange you have now gone very silent.
Grendel
Well-Known Member
Who knows? The fact they are still signing players means they are unlikely to fold.
Hopefully now the council have effectively subsidised the management company the rent can be set at £200k a year and as ACL have had the debt restructured so can the clubs debt. Personally I would hold out until the debt is wiped out.
lordsummerisle
Well-Known Member
Is that a quote from the report, or is it your own opinion put into quotes to make it appear that it is a quote from the report?
If the latter, at least ACL don't have to pay money for spin doctors, as there seem to be plenty willing to do it for nothing.
