Owners of CCFC willing to hold talks over Ricoh return (1 Viewer)

SlowerThanPlatt · Jul 11, 2014

@962TouchFM 5m BREAKING NEWS: The owners of Coventry City say they're willing to hold talks over a temporary return to the Ricoh. Thoughts? #pusb

torchomatic · Jul 11, 2014

About fucking time.

SlowerThanPlatt · Jul 11, 2014

Dear Coventry City supporters,

Firstly we would like to commend Steven Pressley and the team for the great job they did last season. We are proud of both their style of football and the way the manager is moving his football model forward and everyone is looking forward to an exciting campaign next season with the main aim being to mount a strong challenge for promotion.

You have heard a lot from everyone else about any potential return to the Ricoh Arena. However, we understand that you want to hear from us about what is going on. You want the Sky Blues to return to play home games in Coventry. We do too. But any return to the Ricoh Arena has to be driven by Financial Fair Play. We want what is best for the club for the long term and this must be built on financial stability.

We appreciate that some of you have pledged to pay the rent for the Ricoh Arena. We are grateful. But unfortunately the rent is not the biggest problem. We have always been happy to pay a competitive rent but we need to access the match day revenues.

The club’s proposal is very simple. We are happy to pay a rent which is competitive in League One. But, we must have access to our very own match day revenues. That is, under Financial Fair Play Rules, all the business that is generated on a match day is managed by the club so that 60p in every £1 generated can be allocated to Steven Pressley to spend on improving and growing the calibre of the first team squad with promotion to the Championship and beyond in mind.

The generation of revenue also assists in maintaining and growing our excellent Academy so that we continue to produce young local talent to be developed by Steven Pressley and his coaching staff.

Our issue is why should the money you spend in support of the football club be taken away from the club? The first team and Academy should not be disadvantaged - your money should be invested into putting the best team on the pitch and cultivating young players that you can be proud of. As you know, investment in the playing talent is the lifeblood of a football club.

That said, we want the club playing home games in the right place as soon as possible – back in the Coventry community. So, we are ready and willing to talk about a deal that brings the club back to the Ricoh Arena, until we can own our own stadium.

In a statement earlier today, the Football League said the most immediate need is to 'concentrate on the more pressing issue of getting the club back to the Coventry area within the prescribed timeframe' as well as acknowledging 'the club has placed the full sum of £590,000 into an escrow account pending the outcome' of the Football League board’s deliberations. We completely agree and want to play our part to make this happen.

We know that reconciliation will need effort from all sides but we will do all we can as long as it does not jeopardise the long term future of the club. We know we haven’t done enough to communicate with you. We want this to change. We promise to share as much as we can about what is going on.

We are all passionate about the club becoming an essential part of the Coventry City community, determined to secure its long term future and build a team that continues to make us all proud for generations to come.

- Joy Seppala & Tim Fisher

skybluetony176 · Jul 11, 2014

Mmmm. I wonder if they'd be saying this if ACL hadn't made a statement saying that the £590k had to be payed as a precursor to the club coming home?

Get ready for a season of every statement and interview with ML including the line "we wanted to make an arrangement for a temporary return but ACL won't talk to us".

Deleted member 5849 · Jul 11, 2014

skybluetony176 said:
Mmmm. I wonder if they'd be saying this if ACL hadn't made a statement saying that the £590k had to be payed as a precursor to the club coming home?

Get ready for a season of every statement and interview with ML including the line "we wanted to make an arrangement for a temporary return but ACL won't talk to us".

tbf, it's a better statement than many they've made recently. Vaguely coherent and everything!

The Reverend Skyblue · Jul 11, 2014

Well that is brilliant news and if ACL put stupid unrealistic barriers in the way I'm joining the Grendal /torch and even that troll RFC'S gang

It's my birthday today and this could Be the best present I have had. I have also at the age of 51 I took an entry exam today into the University of East Anglia in mathematics to go on the course for energy engineering, and I have just heard I managed to pass by just 3 %.So off I go in September to be the oldest student on campus

I have always wanted to build on my engineering background but I have a shit back and can no longer do manual work so this was the only way I could change direction and get into the area I have always wanted to go into way back yonder

RegTheDonk · Jul 11, 2014

Brilliant news that they are willing to pay the going rental rate and return.

All they have to do now is buy back the contracts for the match day revenues, that will give us enough FFP income to get promoted, and its all systems go for a Ricoh Return.

Happy days ahead.

Am I missing anything?

dongonzalos · Jul 11, 2014

Great so now they should both agree that the FL decides about the 590. They both agree to abide by that decision and get on with negotiating.

I don't understand why Joy or Tim have not made a phone call yet to test the water

letsallsingtogether · Jul 11, 2014

Didn't they say they had last week??

dongonzalos said:
Great so now they should both agree that the FL decides about the 590. They both agree to abide by that decision and get on with negotiating.

I don't understand why Joy or Tim have not made a phone call yet to test the water

letsallsingtogether · Jul 11, 2014

Yes they sill need to phone and get a meeting and not leave till the deal is done.

We don't need to know the details leave that to them that way both save face, and we return home.

RegTheDonk said:
Brilliant news that they are willing to pay the going rental rate and return.

All they have to do now is buy back the contracts for the match day revenues, that will give us enough FFP income to get promoted, and its all systems go for a Ricoh Return.

Happy days ahead.

Am I missing anything?

Moff · Jul 11, 2014

The Reverend Skyblue said:
Well that is brilliant news and if ACL put stupid unrealistic barriers in the way I'm joining the Grendal /torch and even that troll RFC'S gang

It's my birthday today and this could Be the best present I have had,and also at the age of 51 I took an entry exam into the University of East Anglian in mathematics and I have just heard I managed to pass by just 3 %.

I have always wanted to build on my engineering background but I have a shit back and can no longer do manual work so this was the only way I could change direction and get into the area I have always wanted to go into way back yonder

Best of luck Rev, its a great idea. I have similar back problems and may well drop you a line sometime to see how you are getting on, to perhaps inspire myself to head in a new direction. Oh and happy birthday too

RFC · Jul 11, 2014

The Reverend Skyblue said:
Well that is brilliant news and if ACL put stupid unrealistic barriers in the way I'm joining the Grendal /torch and even that troll RFC'S gang

It's my birthday today and this could Be the best present I have had,and also at the age of 51 I took an entry exam into the University of East Anglian in mathematics and I have just heard I managed to pass by just 3 %.

I have always wanted to build on my engineering background but I have a shit back and can no longer do manual work so this was the only way I could change direction and get into the area I have always wanted to go into way back yonder

Regardless of the 'spin' coming out from all parties involved, I think you'll find things HAVE been happening in the back ground. Let's just wait and see, the timing is so important. LOL!

DazzleTommyDazzle · Jul 11, 2014

The Reverend Skyblue said:
It's my birthday today and this could Be the best present I have had,and also at the age of 51 I took an entry exam into the University of East Anglian in mathematics and I have just heard I managed to pass by just 3 %.

I have always wanted to build on my engineering background but I have a shit back and can no longer do manual work so this was the only way I could change direction and get into the area I have always wanted to go into way back yonder

Congratulations and good luck!

Remember your bad back when you're chatting up the eighteen and nineteen year old students.........

oldskyblue58 · Jul 11, 2014

RFC said:
Regardless of the 'spin' coming out from all parties involved, I think you'll find things HAVE been happening in the back ground. Let's just wait and see, the timing is so important. LOL!

there has been no contact whatsoever between the two sides regarding a deal at the Ricoh

sotonskyblue · Jul 11, 2014

RFC said:
Regardless of the 'spin' coming out from all parties involved, I think you'll find things HAVE been happening in the back ground. Let's just wait and see, the timing is so important. LOL!

Surprise surprise!The first and possibly the only vaguely positive/optimistic initiative to come out of SISU .Have they been leant on by the FL and have they been tipped the wink that their JR appeal will be refused

Skybluenutterman · Jul 11, 2014

Perfect timing of the statement don't you think? Evening before the march!! I don't believe a word.

Jack Griffin · Jul 11, 2014

oldskyblue58 said:
there has been no contact whatsoever between the two sides regarding a deal at the Ricoh

Yeah, this is a PR statement to try & take the heat of SISU. F**k 'em, I've no time for these awful people.

letsallsingtogether · Jul 11, 2014

Don't believe a word
Not a word of this is true.

Skybluenutterman said:
Perfect timing of the statement don't you think? Evening before the march!! I don't believe a word.

RoboCCFC90 · Jul 11, 2014

Fantastic news! Surely it's time for both parties to sit down and get negotiations started.

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mighty quinn · Jul 11, 2014

At last. a sensible positive statement.ball is in acl,s court now.

tuousis · Jul 11, 2014

The Reverend Skyblue said:
Well that is brilliant news and if ACL put stupid unrealistic barriers in the way I'm joining the Grendal /torch and even that troll RFC'S gang

It's my birthday today and this could Be the best present I have had,and also at the age of 51 I took an entry exam into the University of East Anglian in mathematics and I have just heard I managed to pass by just 3 %.

I have always wanted to build on my engineering background but I have a shit back and can no longer do manual work so this was the only way I could change direction and get into the area I have always wanted to go into way back yonder

Rev,although i dont beleive a word from SISU,we wiil wait and see.But i felt i must reply to congratulate you on your entrance to University to do maths,i wish you all the best with your studies.

kmj5000 · Jul 11, 2014

I understand that the club sold the RICOH matchday revenue rights originally but assume that SISU will want them handed back to them for nothing?
The bit about FFP is utter bullshit as the matchday revenue at sixfields would be outweighed many times over by the additional spectator ticket money at the Ricoh.

Still, it's the first sign that Joy and Tim are loosing their nerve and beginning to crack!

kmj5000 · Jul 11, 2014

mighty quinn said:
At last. a sensible positive statement.ball is in acl,s court now.

No! The ball is in SISU's court to pay the £590k to ACL that they were ordered to by the FL.

RoboCCFC90 · Jul 11, 2014

kmj5000 said:
I understand that the club sold the RICOH matchday revenue rights originally but assume that SISU will want them handed back to them for nothing?
The bit about FFP is utter bullshit as the matchday revenue at sixfields would be outweighed many times over by the additional spectator ticket money at the Ricoh.

Still, it's the first sign that Joy and Tim are loosing their nerve and beginning to crack!

The thing is the Club has been saying about Matchday revenues for about a year now.. Why it took so long to make this statement I don't know, but it's been the limelight for ages, it's nothing new.

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RoboCCFC90 · Jul 11, 2014

kmj5000 said:
No! The ball is in SISU's court to pay the £590k to ACL that they were ordered to by the FL.

It's been deposited into an Escrow Account already.

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Grendel · Jul 11, 2014

kmj5000 said:
No! The ball is in SISU's court to pay the £590k to ACL that they were ordered to by the FL.

They have paid it -- how stupid are you?

Kingokings204 · Jul 11, 2014

I hate it when they mention FFP to purposely lose 2.5m in ticket sales approx and then moan about FFP. Bit rich but I have to agree. First time I have been encouraged by this whole situation.

Sort it guys. Only you can do it

ccfclinney · Jul 11, 2014

RoboCCFC90 said:
The thing is the Club has been saying about Matchday revenues for about a year now.. Why it took so long to make this statement I don't know, but it's been the limelight for ages, it's nothing new.

Sent from my iPhone using Tapatalk

I very much agree. This is something the club has always said that they need access to the revenues and who can blame them really.. We want good players on the pitch moan when we sell our best players .. But what choice do we have no income from the food and drinks 1500 fans not exactly a lot to spend on players is it when can only spend 60p from every pound.. We need revenues we can't play at the Ricoh pay a lot of rent for just playing there .. Surely we all agree that's not right ? We need to be successful if the club is then the city is as a whole

kmj5000 · Jul 11, 2014

Grendel said:
They have paid it -- how stupid are you?

They have paid it to ACL? When did that happen then?

Grendel · Jul 11, 2014

kmj5000 said:
They have paid it to ACL? When did that happen then?

What are you on about? The agreement is with the Football League. They can assign the money if it is owed to ACL. If it is not owed they will not.

Are you stupid?

ccfcway · Jul 11, 2014

Nearly 3 years on from this. All talk, no action !!

Statement By Onye Igwe

By Covsupport News Service/RD
Updated Thursday, 1st September 2011
Views: 181

Dear Supporter,

These have been turbulent times recently for Coventry City Football Club. I want to start by thanking all of you for your support for this Club. Despite all the changes, and challenges, you have remained committed and continue to offer fantastic support to our players on
the field.

Off the field events at Coventry have sadly dominated the headlines over the last couple of months, and I want to use the closure of the latest chapter, namely the recent withdrawal of a much hyped takeover bid, to communicate directly with you all and address a number of important issues.

First, I want to say that I fully appreciate the frustration of supporters in recent weeks, and I also understand that we at SISU are an easy target for this anger. I have read a lot recently about people wanting
the 'truth' and I wish to use this letter to set out the position we are in currently, look to the future and share the vision with you.

It is widely reported that SISU have spent in the region of £30m on the day to day operations of Coventry Cityover the past four years, and we have not taken money out of the Club, but continue to fund the football club.

Given that sum, I think it is fair to suggest that all supporters would have expected the Club to achieve much more during this time. While there are many owners in the Championship having to cover their Club's losses, we would have hoped for Coventry to have been in a stronger position than we currently are. At SISU, we readily accept that if we had our time again a number of things would have been done differently. Not in the money that we have invested and continue to invest, but in some of the decisions made and with whom
we chose in the past to partner with.

We have also been too distant, so when the relationship broke down with former executives, we have not been able to put our side of the story. We like to empower the management teams to run operations and do not take an active public role.

It is clear that this business style does not work in football. Since March the agenda should have been set by the Club and owner, building bridges with our supporters and other stakeholders in the City. Unfortunately our distance has allowed others to promote their own disruptive cause, damaging the Club as a consequence.

This has also undermined the good work done by the new management team to recover from past losses.

The position of SISU is absolutely clear. We are not looking to sell but have said that we would speak with any credible investors looking to be part of a partnership with us.Talks continue on a regular basis
but no truly credible party has come to the fore so far. Let me also be clear that a lot of time has been wasted by having to deal with people and parties who have promised much in public, but have delivered
absolutely nothing.

The new Board has been tasked with improving all aspects of the Club's operations. Many improvements have been made, although most of these are not of a headline grabbing nature. I fully appreciate that what matters tosupporters is investment on the field.Those who were previously directly responsible for our football transfer policy left the Club in a difficult situation with 11 players out of contract in June leaving us to inherit a dangerously depleted squad of players.We want to see major improvements on and off the field, but like many of our competitors we are operating within a more practical and long term budgetary structure than in recent years.

Money has been available for the club to spend this summer, and I am delighted that as well as goalkeepers Joe Murphy and Chris Dunn, Cody McDonald, a striker, was signed yesterday. We will hopefully also be successful in attracting some quality loan players later this month to help Andy Thorn. Also, despite a number of approaches, we have declined substantial offers for Lukas Jutkewicz (sic) and, as widely reported, other players, in order to maintain our commitment to compete at this level.

A working capital facility has been made available to the Club to support it through the final stage of the turnaround plan and major improvements and innovative ideas are expected in the coming months.

CoventryCity is the anchor tenant at the Ricoh Arena and it should have at least a partial stake in the ownership of the stadium where we play; everything possible shall be done moving forward to reach the right solution.

A football club should be a leading light within a community, a vehicle for bringing people together and promoting a City.Personally, I have enjoyed some fantastic days at the Ricoh Arena over the past four
years. In the coming weeks and months I shall communicate further with supporters and outline a wider vision for the club. This season though is one of transition, as we move towards a Club that is unified from the top down, both on and off the field of play.

I and the rest of the Board understand that there is a lot of frustration right now and lots of work has to be done to clear this, so let me finish by reiterating that we are committed to getting it right for the Club for the long term.

Kind regards,
Onye Igwe
SISU Capital Private Equity
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RoboCCFC90 · Jul 11, 2014

ccfclinney said:
I very much agree. This is something the club has always said that they need access to the revenues and who can blame them really.. We want good players on the pitch moan when we sell our best players .. But what choice do we have no income from the food and drinks 1500 fans not exactly a lot to spend on players is it when can only spend 60p from every pound.. We need revenues we can't play at the Ricoh pay a lot of rent for just playing there .. Surely we all agree that's not right ? We need to be successful if the club is then the city is as a whole

Well said!

I couldn't put it any better. Let's hope that something can be sorted.

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woody11462 · Jul 11, 2014

Sorry but even if there is any truth behind this I can't see them having anything sorted out for the start of the season. That in itself will cause all kinds of issues starting at one ground and changing as the season progresses.

kmj5000 · Jul 11, 2014

Grendel said:
What are you on about? The agreement is with the Football League. They can assign the money if it is owed to ACL. If it is not owed they will not.

Are you stupid?

So you agree, they haven't paid the money to ACL?

skybluetony176 · Jul 11, 2014

kmj5000 said:
I understand that the club sold the RICOH matchday revenue rights originally but assume that SISU will want them handed back to them for nothing?
The bit about FFP is utter bullshit as the matchday revenue at sixfields would be outweighed many times over by the additional spectator ticket money at the Ricoh.

Still, it's the first sign that Joy and Tim are loosing their nerve and beginning to crack!

People would start going in the shop too. I need a new mug for starter's

Owners of CCFC willing to hold talks over Ricoh return (1 Viewer)

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