The Penguin
Well-Known Member
I think rape and giving money to a football club are hardly comparative.
I also think you can show disapproval without abusing someone personally. Attack the argument by all means, but why attack the person?
Peter Knatchbull-Hugessen (1 Viewer)
- Thread starter RoboCCFC90
- Start date
I think rape and giving money to a football club are hardly comparative.
I also think you can show disapproval without abusing someone personally. Attack the argument by all means, but why attack the person?
So if owning the stadium is what is required to break even... what's the problem??
We have seen the SISU "experts" - Igwe, Dulieu, Brody etc. You can't seriously think ACL employees could be less competent than that bunch of clowns.
SISU buying the stadium is what everyone wanted uniting the club and the stadium is what everyone wants until it became clear that sisu have no interest in what's best for the club, until it became clear that sisu use complex business structure to avoid their debts and keep their assets. no one wants sisu to get the stadium because they don't believe ccfc will get it, they believe once again a different company will own it or have a charge over it to make sure sisu get to keep the stadium and not the football club.
GaryPendrysEyes
Well-Known Member
On any business measure Sisu have failed totally over a 5 yr plus term, revenue generation, profit/debt, core assets on the field, fan and stakeholder relations, professional and ethical practice.
And yet people like Ferret still act as if Sisu would do a fine upstanding professional business job with the Ricoh. Do some people learn nothing? We have seen them in action for years they are an apalling business. Unbelievable.
And yet people like Ferret still act as if Sisu would do a fine upstanding professional business job with the Ricoh. Do some people learn nothing? We have seen them in action for years they are an apalling business. Unbelievable.
Yes, and at that point two things had happened:
1) The ACL chairman had become director at Yorkshire Bank
2) Hoffman and Elliott were back in town and very loudly promoting an potential investor (no, not PH4 - the chinese).
But of course ... that's all just coincidences!
oldskyblue58
CCFC Finance Director
Ownership of ACL is not on the table a long lease might be. Do you really think that is what SISU are after ........ really???? You do not go to all this planning effort and cost to take second offerings :facepalm:
Been reading too many fairy tales Godiva? Never implied it was wrong or evil to have a charge was just explaining what would be/is the situation.
Sky Blue Pete
Well-Known Member
No coincidence. Acl & CCc don't want to deal with sisu and are actively attempting to work with potential new owners and have done for some time.
The difference between them and sisu is sisu do not have the interests of Coventry city football club and its future as a priority
blueflint
Well-Known Member
(Do what is right and sell a 50% stake in the Ricoh Arena too Otium Entertainment Ltd (SISU). This will not be a popular post, but the stand-off between ACL/CCC and SISU has gone on for long enough. I am not a doubter that yourself, other members of ACL and senior members of the Council, have the best interets of the people of Coventry at heart, however as I can see it there is a heavy dark cloud lingering over the City and something needs to happen to lift the spirits again.)
as you can see you are in a minority so sorry it shouldn't happen
as you can see you are in a minority so sorry it shouldn't happen
Sky Blues
Active Member
Do you have a link to a source for this? I have been looking without success.
I have dug up Coventry Telegraph reports that there were talks in May 2012 (http://www.coventrytelegraph.net/news/coventry-news/coventry-city-owners-sisu-talks-3024826) but the paper reported on November 27, 2012, that these had broken down...
Sky Blues
Active Member
And it was probably just a coincidence that concerns were being raised about ACL's financial viability shortly after discussions began with Sisu over buying a half-share in the Ricoh...
thaiskyblue
New Member
so you think the dark cloud will go if sisu get 50%, I THINK THE DARK CLOUD WILL BURST UNLEASHING TOTAL CARNAGE.
NOPM, SISU OUT, PUSB!
stupot07
Well-Known Member
Probably not to survive....but to thrive?
Actually they were all genuine questions and never intended to be anything but exactly genuine questions:
This one wasn't answered.
It's important if this was ever stated by sisu or if it's a myth created by a stakeholder with a different agenda.
You wiped that off as being a 'second offer', but surely combined with developing rights owning ACL should increase the value of the club as well as set good conditions for a viable future?
And if sisu never expressed interest in buying the freehold, then it is not a 'second offering'.
Again ... the way you worded your post it could be interpreted as something very bad showing how evil the owners intentions are. I just wanted a confirmation that a charge is a common way to protect an investment.
Well, according to sisu/fisher(!) it was all part of a joint plan with the ccc todistress the ACL mortgage at Yorkshire Bank. This way sisu could buy the mortgage at a very low price (£5-£8m) and discharge it as part of the deal to buy the Higgs shares.
The dates are quite fuzzy on this. The CT reported as early as September that a deal had been reached - http://www.coventrytelegraph.net/news/coventry-news/exclusive-sisu-strikes-coventry-city-3019922 - but then as time went on there were suggestions talks were breaking down. SISU seem pretty clear though that (in their view) that deal - for which they state there was a signed headline agreement, was still live up until the point of the council bail out which killed it. It was at this point that talks over rent reduction began. The terms of the deal SISU have outlined several times in public, and there has never been a denial by the other side that I am aware of.
Last edited:
Sky Blues
Active Member
That was the allegation in Sisu's judicial review statement wasn't it? If memory serves me correctly, just before the judge gave his verdict on that I'm sure I saw a tweet from Les Reid saying he had been informed a couple of weeks earlier that a statement had been submitted by the other side and he was going to ask for a copy, but I don't recall seeing any story published from it. Maybe the story became out-of-date once the judge's decision was handed down.
oldskyblue58
CCFC Finance Director
just to humour you Godiva
TF said the following Monday "“The club was expecting the council to consider whether it wished to renew discussions on the basis on a transaction, but no response has been received.The club simply needs all the revenue which comes from owning its own stadium" It doesnt say renting its own stadium
sure there are other quotes etc if you care to look
TF said the following Monday "“The club was expecting the council to consider whether it wished to renew discussions on the basis on a transaction, but no response has been received.The club simply needs all the revenue which comes from owning its own stadium" It doesnt say renting its own stadium
sure there are other quotes etc if you care to look
I have completely forgotten about Les Reid and his quest to get his hands on the ccc replies. Are you on Twitter? Maybe you ... or someone using Twitter ... could ask him if ever he received a copy?
oldskyblue58
CCFC Finance Director
you can read les reids twittter....... just google it
You just can not contribute to it without signing up
You just can not contribute to it without signing up
Cheers!
Sky Blues
Active Member
I'm trying to find it. No luck so far...
James Smith
Well-Known Member
However SISU haven't said that statement is incorrect, a downright lie or started defamation proceedings against ACL which you would think they would do given how much they like resorting to lawyers.
lewys33
Well-Known Member
Nikki Sinclaire is an idiot. Ignore that woman. She is an MEP trying to get people on her side for HER OWN GAIN. Nothing else. What is the point of getting around a table and "trying to bash something out" they have been around enough times and not sorted something. It is simple. Joy Seppafuck wants 100% of the Ricoh at her price. Council do not want to sell to her, let alone at her price!! There will be no negotiation on "rent". They are well within their rights to not sell it to them in my opinion!
All SISU will do is keep the Ricoh for themselves. Use it as an asset against their business(es), BECAUSE THAT IS WHAT THEY DO! Even if they build a new stadium CCFC will not own it, and will have to pay rent to SISU/Otium etc.
It also makes me laugh when people moan about the council rejecting the CVA and "turning down £590,000 of tax payers money"
Well 1. It turns out they could still get that back
2. Why are people not having a go at SISU for not paying the £1.whatever million that they technically owe of "tax payers money"
James Smith
Well-Known Member
Oh and just a though could PWKH be on holiday at the mo? Tis the season for it and all that.
shmmeee
Well-Known Member
We don't know why CCC backed out of the deal. Could be political (don't want to deal with Sisu) could be commercial (deal wasn't as good as it seemed) Could be as simple as the council negotiators not having authority. Either way its irrelevant.
Sisu tried to engineer a deal to get the arena cheaper than the agreed offer (Higgs share), one side backe out. They should respect that, just because they initially agreed doesn't hold CCC to anything.
Sisu should pay the agreed formula to Higgs if they want to make the club sustainable IMO. AFAIK that deal is on the table until Ltd is liquidated and despite rumours to the contrary I'm sure I remember PWKH saying CCC couldn't touch that agreement. After all the club owning that half was always the understanding.
davebart
Active Member
It is no good going over old ground.
Sisu are hedge fund managers. People do not seem to realise what that entails. They do not RUN businesses. They divide them up to get the biggest return out of the good parts and ditch the bad parts.
In terms of CCFC - the bad part is the team, it will always make a loss - the good part was supposed to be the stadium and more importantly the land around it. They were only ever going to make money by owning the stadium, and when I say they I mean SISU and not CCFC.
That has been the reality from day 1. What I can't understand is why they weren't prepared to offer a fair price for it. where has it got them?
Their only out now is to distress the owners of the stadium to such an extent that it HAS to be sold. It is a bit difficult to distress a council.
Sisu are hedge fund managers. People do not seem to realise what that entails. They do not RUN businesses. They divide them up to get the biggest return out of the good parts and ditch the bad parts.
In terms of CCFC - the bad part is the team, it will always make a loss - the good part was supposed to be the stadium and more importantly the land around it. They were only ever going to make money by owning the stadium, and when I say they I mean SISU and not CCFC.
That has been the reality from day 1. What I can't understand is why they weren't prepared to offer a fair price for it. where has it got them?
Their only out now is to distress the owners of the stadium to such an extent that it HAS to be sold. It is a bit difficult to distress a council.
mrtrench
Well-Known Member
Brighton Sky Blue
Well-Known Member
They don't need the Higgs stake, all they need is ACL's stake in IEC and a nominal lease to play at the stadium. They don't need to starve ACL out to achieve this either.
rondog1973
Well-Known Member
Way too hasty. We've played 1 game at Northampton, so long as everyone recognizes this is a war of attrition that I'm convinced we can win if we stick to the boycott, then SISU have to yield at some point surely.
Hold your nerve folks. NOPM.
skybluehugh
New Member
And why is it always ACL/CCC who have to back down? Answer me that without the owner slant. And in reply to a earlier post from you on this thread, WHO was it who ripped the heart out of the city. The bastards who took us to NT, that's who.
stupot07
Well-Known Member
Don't the majority of Coventry residents support Man Utd, Liverpool and Chelsea?
Broken Hearted Sky Blue
Well-Known Member
Only on Sky
stupot07
Well-Known Member
And merchandise.....
