It would be interesting to know the value of the lease that Leicester City Fc have paid over to Teachers in the interim 11 yrs and whether their ownership of that lease enabled them to get all revenues the venue generates though all activities .If we assumed the lease was costing around £1m. back to teachers over the 11 yrs ,they have recieved back £28m. with todays £17M. deal.The cost of Construction around 2 yrs prior to CCFC's construction start @£37M. is not a bad place to assess what the Ricoh is possibly worth or cost in terms of actual Construction, over land cleansing ETC.If you take the Ground + Inflation its feasble to say the Ground cost £40 ish M. to build ,add in the Casino ,Atrium and Jaguar hall ,a figure of £50 ish M. is about par. So what would the Ricoh sell for currently if it were for sale ,would £30m. be enough if you were made of the right stuff and trustworthy.There is no significane in the number being £30M. but for the recent speculation that a new build ground Costing £30M would get you around 15K. seats.Finally a question that often occurs to me ,with all the connections within the club at that time and again when we moved in ,how come CCFC had to turn firstly to the council ,then Higgs to bail them out rather than someone from the commercial sector ,like Teachers ,wonder what Leicesters Debt levels were when they got that Bond.
Nonethless, the council pumped in millions to fund the ground, and took the equity as a trade-off. Unless you think we are entitled to £1.3m as a gift from the council to help us build the stadium, you will agree that this is perfectly reasonable.
I think you will find Tesco's paid the vast majority of what the council paid to build the ground so they could build the store in the said location. The store was built on the land we paid to be decontaminated.
Something has to give though Astute for us to move forwards doesn't it?
I don't trust Sisu, but in turn, have never had any respect for the council either and I dare say a fair few of them are rather dodgy and have their own interests at heart rather than that of CCFC and the citizens of Coventry.
It's not about the stadium. It about redeveloping the land around it. That is the serious money maker. That is what SISU want to get their grubby hands on and quite rightly the council have looked at their record and said "no thanks". They have duty to protect civic money and as a council tax payer I support this approach. Leicester is already largely redeveloped therefore it is a completely different scenario and not comparable.
The council bought ACL to protect the investment they have already made. It was really the only choice they had. What's needed now is someone who wants to make a small fortune from there large one and buy the whole lot from both parties. Somewhere around £110 million would probably do it along with another £50 million to develop all the land. Oh and deep pockets to finance CCFC. Is that too much to ask??