Port Vale chairman on CWR (1 Viewer)
- Thread starter Godiva
- Start date
GaryPendrysEyes
Well-Known Member
Just think one day, Joy may go on CWR and say something to fans.
What a crazy idea.
What a crazy idea.
mrbluesky87
New Member
Free the club...........Pathetic pal, they wanted to free their own financial obligations to the lease, please stop confusing the ambitions of the hedge fund with the football club.
torchomatic
Well-Known Member
It makes sense. Of course you think it's pathetic. We don't want the club to prosper, do we? We want CCC and ACL to get all the dosh.
There you see, even he's behind Cov United
I think you might have misinterpreted what he said, mate!!!
skyblueman
New Member
He's missing the point - a whole new generation of Cov fans is being lost for good - my lad wanted to see his local team but he can't - so what happens - football mad he's just left with TV and the bloody premiership and all I'm hearing about is Spurs Spurs Spurs -
ricohroar
Well-Known Member
If Sisu get the Ricoh they will do exactly what ACL and CCC are doing, only worse. They will sell the football club and rent the arena, because thats the only way to make any sort of profit. there is NO prfit in a football club, least of all ours. CCFC will never own the Ricoh, Sisu might, but CCFC not a chance.
That's a popular assumption going in circles. But there's absolutely no evidence to support the claim. That would create a situation that has crippled the club for years, and potential buyers of the club would know it's an unsustainable situation. If club and stadium are united under the SBS&L umbrella both is much more likely to be sold as a package.
Just as sisu's core business is nothing to do with running a football club - it's neither running a stadium management company.
He also stated that the club had provided the FL with a million pound bond, which has been admitted as not the case, just an undertaking to pay that bond in 3 years, if no new ground is forthcoming.
He talked a lot about the saving on the rental payments, but conveniently overlooked the huge drop in revenue, the move to Northampton has caused.. Costs are important to any business, but so are revenues.
He talked a lot about the saving on the rental payments, but conveniently overlooked the huge drop in revenue, the move to Northampton has caused.. Costs are important to any business, but so are revenues.
thaiskyblue
New Member
it's all hunky dory she chats to mep's. ..............
SkyBlue_Bear83
Well-Known Member
That's just another made up reason people use to justify there stance
WiganSkyBlue
Member
And dodgy ones at that .............. didn't Cameron describe Sinclaire's party as full of fruitcakes and closet racists? :thinking about: Hmmm!
thaiskyblue
New Member
sounds like sisu board member candidate material.
davebart
Active Member
as I've said before - I wish you well with that hope.
sky blue john
Well-Known Member
Its lucky theirs enough of us that don't believe in our hedgefund saviours like you !!!!
However there is proof that if they don't get their own way they will load Ccfc with debt and loans owed to other companies within their group.
Which in turn would make it impossible for anyone else to take us on !!!!!! !!!!!!!!
mark82
Moderator
Take him to the games then. Sometimes that is more important than forcing the owners hand with NOPM type schemes.
mark82
Moderator
Got any proof of that? Of course not, because its utter bollocks.
Nick
Administrator
What is the proof?
mark82
Moderator
No different to what's happening at other clubs around the country. Doesn't make it any less shit though.
davebart
Active Member
Not logical - ACL were charging a rent agreed with the tenant beforehand. It isn't their fault the tenant couldn't afford to pay it.
Right, I get it that you never have and never will understand my point of views - and you will probably never know if I defend or explain their strategy and actions.
But you are right about the rest
- The club will continue to be laden with debts owed to sisu managed companies. Simply because the club cannot survive without money. And as you and many others will not give money to the club, the club will need to loan them from somebody who is willing to take the risk. So stay away, don't buy merchandize etc and the debts will continue to go up until the club finally start to make a profit by owning all income streams in the stadium they play.
- The debt is really keeping any potential buyer out. Which I have said since long before we entered administration. I've kept calling it a 'debt wall' as it fence off potential buyers. And it's deliberately put in place because sisu have absolutely no intention of leaving any day soon (another popular failed assumption).
So the only way forward is to unite club and stadium. That will make it possible to produce a future profit, to rebuild the asset base. That potential future profit is what the sell price will be calculated on. It's gonna be quite big if it shall attract buyers - only possible if club and stadium is united under the same umbrella.
Nick
Administrator
Yes but if the club agreed it with SISU then what is the problem? It isn't SISU's fault the club would be able to pay it is it?
It would be EXACTLY the same scenario IF sisu were to get a ground and charge massive rents with no income other than tickets (and a % of those goes to sisu, not the club too). Wrong whether it is ACL or SISU doing it.
It is the same people shouting how we can't give the Ricoh to SISU because they will charge rent that are saying ACL have done nothing wrong.....
Covstu
Well-Known Member
Agreed its not their 'fault' but it soon become their problem. SISU wernt prepared to pay the rates requested of them and stopped paying. I dont agree with the way they did this but either way you haev the same scenario. Get the ground under the same ownership as the club, this is the only way that we can control that debt.
skyblue1991
Well-Known Member
I just cannot understand why some fans don't realise being at the Ricoh without access to all revenue streams is going to benefit.
Don't get me wrong I want us back, but only in the right circumstances in which the club can benefit.
Don't get me wrong I want us back, but only in the right circumstances in which the club can benefit.
blueflint
Well-Known Member
theres no evidence saying its wrong just go by there record of deals not just city but every deal
Hugh Jarse
Well-Known Member
Derrrr, I think you'll find this was a joke comment, double derrr!
SkyBlue_Bear83
Well-Known Member
Exactly, they'd be happy if we returned to the Ricoh and ripped off by ACL for rent again
James Smith
Well-Known Member
It would be a touch hypocritical if SISU attempted to charge our club a high rent when they were complaining about ACL doing exactly that. It would be worse if they did that whilst owning the club. I have no evidence that SISU have any plans to do this or indeed not do this.
I think most fans would agree that long term, the football club needs to own a/the stadium, or at least own the revenue streams from the stadium. The trouble is SISU want to do this and would probably then be wiling to sell, the problem is they seemingly want to get at least all of their money back. Whatever way they go it seems impossible to me that they could ever get to a situation, where a buyer would be willing to meet anything like SISU's asking price.
They themselves have readily admitted that they have made mistakes, which has cost them a lot of money, however they seemingly want others to pay for their mistakes, but that simply won't happen.
If they were to build a new stadium, which virtually no one believes, that just means huge added costs/debt plus all the 3/5 year trading losses on top. By then the club is just as likely to be in Division 2 or even worse. Gates at an all time low, any goodwill gone completely, losses off the Richter scale. Who in their right mind would buy the club for the money SISU would require.
If ACL do receive as stated their £590,000?? in return for the FL agreeing the Otium's continued ownership, then that equates to over 3 years rent, if the £150,000 offer is to be believed. So if ACL do receive that cash injection, then SISU's attempt to distress them becomes a lot more difficult. Sooner or later SISU will have to move the new ground plan forward, they can't keep bluffing forever.
Brighton Sky Blue
Well-Known Member
SISU want the ground for nothing and ACL don't want to give it away for nothing and so we have the impasse which isn't going to shift unless ACL change their mind or go bust. It's very simple to understand and nothing is going to change until one of the two latter options happens.
Of course, we could buy ACL's share of IEC, and agree a long, nominal lease to play at the ground, giving us access to revenues without needing to develop anything, but that would be too straight forward.
shmmeee
Well-Known Member
How's that prospering going?
I'm sure the finances from a year of legal action on two fronts and several months of NOPM are more than outweighed by a couple of years of pies.
FFS anyone who thinks this is about saving the club money in any form needs their head checking. The lost income from fans either getting out of the habit or never getting into it will outweigh even the most optimistic financial benefit owning our own stadium might bring. At least in our lifetime.
The damage is done and whatever happens the club will pay for it for the next generation. And all the pithy comments about ACL won't deflect from the fact that the defining moment in losing those millions was moving the club out of Coventry.
What do you expect a new stadium to do exactly? Allow us to break even? Bring in the £4m a year we lose when were not even competitive in terms of wages? Mean we actually build a squad rather than selling it off? These problems run deeper than a rent agreement.
(Not entirely directed at you, went full rant)
NorthernWisdom
Well-Known Member
It may be an uncomfortable truth, but having moved out, the best thing for the club long term could well be for it to stay out for longer than the here and now.
For then, when it returns, it can harness the goodwill around its return, and capture people who are not there now, make them appreciate what they have not had, stop them taking it for granted.
Harness it right, and a move back could make a generation of fans, as much as it breaks another.
shropshirecov
New Member
I love the argument, 'well you'd be better off at the Ricoh (even if you are paying ott rent and someone else is taking a chunk of the profits you generate) than at Northampton so sisu should agree a deal'
It's up there with 'well sisu can afford it'
Some people just love the club to be fleeced.
It's up there with 'well sisu can afford it'
Some people just love the club to be fleeced.
