PWKH Any news you can give us> (1 Viewer)
- Thread starter cloughie
- Start date
I always fear when I post that it may pose more questions than it will answer. But I will do my best to add some clarity to the situation within the confines of confidentiality imposed by the situation. There is what the Telegraph calls a “war of words” going on. Given that we haven’t said anything yet it seems to be something of a one-sided “war”. I don’t want to respond to what Tim Fisher and now Geoffrey Robinson have said. They have their own reasons for painting the picture that they do.
The Charity’s position is clear. If and when there is a sensible offer from a potential purchaser the Trustees will sell if the City Council is happy that their potential partner is sound and will work with them to take forward the success that is the Ricoh Arena.
As it stands we have heard absolutely nothing from Sisu or CCFC since June. At that time the “deal” was ragged and needed further discussion and agreement before the Charity’s advisers could be comfortable with a sale to Sisu/CCFC. Sisu/CCFC have not come forward to us with any solutions to any of the sticking points.
The Charity is proud of the success that is the Ricoh Arena. The project has made a step change in the regeneration of North East Coventry. It has created and is continuing to create new jobs and to bring in inward investment to Coventry. It has become nationally known and is part of a success story. It is doing the job it was intended to: bringing international exhibitions and conferences, international and national sporting events, and major concerts to Coventry. It has never been all about football and I don’t think that many would disagree if I said that we would not have had this development had it been in the hands of the Football Club.
Of course ACL is having to look at its business model and how it finances itself in the face of yet another failure of the Football Club to control its spending. It is inevitable that the Board of ACL will have to make some difficult decisions in the very near future. The Charity will support those decisions if they look to benefit the long term future of Coventry. If those decisions also help the short term needs of the Football Club so much the better. But it has to be the long term future of ACL and the city of Coventry which is the driver for those decisions. I hope this helps to address some of the concerns of my fellow board users.
The Charity’s position is clear. If and when there is a sensible offer from a potential purchaser the Trustees will sell if the City Council is happy that their potential partner is sound and will work with them to take forward the success that is the Ricoh Arena.
As it stands we have heard absolutely nothing from Sisu or CCFC since June. At that time the “deal” was ragged and needed further discussion and agreement before the Charity’s advisers could be comfortable with a sale to Sisu/CCFC. Sisu/CCFC have not come forward to us with any solutions to any of the sticking points.
The Charity is proud of the success that is the Ricoh Arena. The project has made a step change in the regeneration of North East Coventry. It has created and is continuing to create new jobs and to bring in inward investment to Coventry. It has become nationally known and is part of a success story. It is doing the job it was intended to: bringing international exhibitions and conferences, international and national sporting events, and major concerts to Coventry. It has never been all about football and I don’t think that many would disagree if I said that we would not have had this development had it been in the hands of the Football Club.
Of course ACL is having to look at its business model and how it finances itself in the face of yet another failure of the Football Club to control its spending. It is inevitable that the Board of ACL will have to make some difficult decisions in the very near future. The Charity will support those decisions if they look to benefit the long term future of Coventry. If those decisions also help the short term needs of the Football Club so much the better. But it has to be the long term future of ACL and the city of Coventry which is the driver for those decisions. I hope this helps to address some of the concerns of my fellow board users.
skyblueinBaku
Well-Known Member
Thanks, PWKH. Anyone know what Robinson has said?
rupert_bear
Well-Known Member
Always an informative message from PWKH and i thank him for that, more than can be said of others. Always get the feeling things are mysterily bubbling away behind the scenes whether it be from SISU or others, trouble is it isn't good for our health if you are a die-hard Cov. fan.
oldskyblue58
CCFC Finance Director
if you want to read what Geoffrey said it is here......... largely irrelevant to be honest and little insulting. Clearly doesnt understand a lot of what is going on judging by his comments that the charity should get out at whatever price they can get :facepalm:
http://www.coventrytelegraph.net/co...f-ricoh-stadium-catastrophe-92746-32338166/2/
Lest we all forget he was very much part of the original problems and the reason SISU are here at all.
I really do not understand why the CT and CWR keep dragging up personalties that helped create the whole situation and then holding them out as people who have great insight to solve the problem. Aside from the dignified press releases from ACL and PWKH's post above the most relevant and useful interview has been from the Salford Uni professor on the CWR breakfast show yesterday.
Geoffrey just stay quiet.
http://www.coventrytelegraph.net/co...f-ricoh-stadium-catastrophe-92746-32338166/2/
Lest we all forget he was very much part of the original problems and the reason SISU are here at all.
I really do not understand why the CT and CWR keep dragging up personalties that helped create the whole situation and then holding them out as people who have great insight to solve the problem. Aside from the dignified press releases from ACL and PWKH's post above the most relevant and useful interview has been from the Salford Uni professor on the CWR breakfast show yesterday.
Geoffrey just stay quiet.
Last edited:
sky_blue_up_north
Well-Known Member
Robinson and Richardson are two of the reasons we are in this state. Pot calling the kettle black if you ask me. Just keep your gob shut Robinson.
sky blue john
Well-Known Member
If Sisu have not spoken to the Higgs charity since june almost 6 months just goes to show how interested in the stadium they are.
When does the option to buy the Higgs share run out ?
I would laugh my socks off if someone else came in and bought the charitys share.
When does the option to buy the Higgs share run out ?
I would laugh my socks off if someone else came in and bought the charitys share.
ashbyjan
Well-Known Member
Could Geoff still have a vested financial interest in SISU succeeding in getting hold of the stadium? Shocking i know to even contemplate he might have selfish reasons for his statement, after all why does the ground belong to the council? Why is the charity hold 50% of ACL............look closer to home Mr Robinson before pointing fingers at others. Next I expect a statements from those great administrators Graham Hover and Ken Dulieu.
Diehard Si
New Member
Thanks Peter.
I for one fully back the charity over this. We know it's not your side of the battle causing the problems and I sincerely hope that whatever happens the charity is protected and gets through this.
I for one fully back the charity over this. We know it's not your side of the battle causing the problems and I sincerely hope that whatever happens the charity is protected and gets through this.
skyblueinBaku
Well-Known Member
Thanks wingy & OSB for pointing me in the right direction to read what Robinson said. Surely, after what he did, no-one is going to take seriously any advice he gives regarding CCFC, ACL etc.
Sky Blue Kid
Well-Known Member
Come on Hoff £10m and it's yours. Let's see if you are still there!
jimmyhillsfanclub
Well-Known Member
Ahh...Geoffrey Robinson eh...
...A man SOOOO trustworthy....he was even banned from the House of Commons for failing to disclose his mega-bucks dealings with Robert Maxwell...
...and whilst the UK paymaster general, lent Mandelson nearly 400k to buy a house....whoops...
....Wouldn't piss on the old twat if he was on fire....
...A man SOOOO trustworthy....he was even banned from the House of Commons for failing to disclose his mega-bucks dealings with Robert Maxwell...
...and whilst the UK paymaster general, lent Mandelson nearly 400k to buy a house....whoops...
....Wouldn't piss on the old twat if he was on fire....
jimmyhillsfanclub
Well-Known Member
Got more chance getting Jojar Dhinsa involved......or a Unicorn with a money tree.......Hoffman....
ointlaugh:All we need now are shock jocks Gaunt and Keys to join the fray and complete the triangle.
The very difficult decisions in the near future to uitimately drive ACLs and the City of Coventrys future, if the clubs shorterm can be helped so much the better, sound a little ominous .
Fisher saying almost defensively in the week "we do want to play at the Ricoh"......."Hell i'll pay a championship rent" through gritted teeth............Its either that or play up the borough.
The very difficult decisions in the near future to uitimately drive ACLs and the City of Coventrys future, if the clubs shorterm can be helped so much the better, sound a little ominous .
Fisher saying almost defensively in the week "we do want to play at the Ricoh"......."Hell i'll pay a championship rent" through gritted teeth............Its either that or play up the borough.
I think we should all just take a few days to digest everything, nothing major will happen over the next week or so, infact I doubt anything will change till January.
As for Robinson, regardless of what you think of him, the man invested a lot of money into Coventry and he would like some back if possible.
As for Robinson, regardless of what you think of him, the man invested a lot of money into Coventry and he would like some back if possible.
lordsummerisle
Well-Known Member
Last year when Robinson was slagging off Sisu, some people on here forgot what a conniving self-interested person he is.
At least people seem to be remembering again now.
coundonskyblue
New Member
<p>
Robinson lost very little. Premiership years he was charging interest on his investment.
Robinson lost very little. Premiership years he was charging interest on his investment.
lordsummerisle
Well-Known Member
Think he very likely came out in profit, though the club didn't of course.
SkyBlueScottie
Well-Known Member
You are kidding?
dongonzalos
Well-Known Member
The charity and the council must do what is best for coventry as a whole.
12 k go to the Ricoh at the moment out of a 309k population.
Would all 309k think selling to SISU for next to nothing is the best thing to do?
12 k go to the Ricoh at the moment out of a 309k population.
Would all 309k think selling to SISU for next to nothing is the best thing to do?
Last edited:
Danceswithhorses
Well-Known Member
Robinson was quoted as saying
I don’t believe Sisu are entirely to blame for this. The charity was never intended to have those shares in the stadium for the long term. It has held onto them for far too long. It should get out at whatever price it can.
There's just so much wrong with those comments
-Yes Geoffrey, one of the others to blame is YOU.
-Anyone with any intelligence knows that the charity cant sell out for whatever price it likes...it has to get a fair price.
I don’t believe Sisu are entirely to blame for this. The charity was never intended to have those shares in the stadium for the long term. It has held onto them for far too long. It should get out at whatever price it can.
There's just so much wrong with those comments
-Yes Geoffrey, one of the others to blame is YOU.
-Anyone with any intelligence knows that the charity cant sell out for whatever price it likes...it has to get a fair price.
The council has a veto on ANY deals!
Even if ACL wanted to sell, unless the council agreed (and considering SiSU have provided no long term plan for the club), the council could simply block any deal.
Personally this is going to be end game for either ACL or SiSU. I just cannot see how SiSU can get their way. After all if the administrators come in, there is absolutely no guarantee that SiSU would be deemed preferred bidders, and it could even be that the Hoff could take it over (I suspect ACL would be keen on that!) then SiSU would have NOWHERE left to turn.
Of course it could also be that ACL play their hand poorly and just roll over for SiSU. All ACL would have to do is lock the gates once and SiSU are finished!
DO it ACL - You have to ensure you survive, and priority is not ensuring a hedge fund gets some of its money back!
Even if ACL wanted to sell, unless the council agreed (and considering SiSU have provided no long term plan for the club), the council could simply block any deal.
Personally this is going to be end game for either ACL or SiSU. I just cannot see how SiSU can get their way. After all if the administrators come in, there is absolutely no guarantee that SiSU would be deemed preferred bidders, and it could even be that the Hoff could take it over (I suspect ACL would be keen on that!) then SiSU would have NOWHERE left to turn.
Of course it could also be that ACL play their hand poorly and just roll over for SiSU. All ACL would have to do is lock the gates once and SiSU are finished!
DO it ACL - You have to ensure you survive, and priority is not ensuring a hedge fund gets some of its money back!
sky blue john
Well-Known Member
Psgm1 you make it sound like its an either or situation that ACL or Sisu will go under. i wouldnt think Sisu have even 5% chance of getting their own way on this one. ACL, Higgs and the council will all stick together on this one.
rupert_bear
Well-Known Member
If the Ricoh doors were locked and it prevented a scheuled match to be played that i am certain would see us expelled from the competetion immediately, i am sure thats a rule. SISU know this which is why i believe they are playing this game re. payment for renting the stadium
dongonzalos
Well-Known Member
ACL have played a trump card.
SISU were offered a fair deal 50% reduction.
SISU are ruthless negiotiators they are using emotional blackmail. Higgs is a charity that should care for coventry and would not want be blamed for destroying the football club. The council also would not want to be blamed for depriving Coventry of one of its well known assets.
Hence SISU have been trying to get more a 80% reduction in rates.
ACL have now introduced SISU to some fellow ruthless negotiators trump card.
SISU will now have to compromise or they are screwed. The bank won't play their games or dance to their tune.
SISU were offered a fair deal 50% reduction.
SISU are ruthless negiotiators they are using emotional blackmail. Higgs is a charity that should care for coventry and would not want be blamed for destroying the football club. The council also would not want to be blamed for depriving Coventry of one of its well known assets.
Hence SISU have been trying to get more a 80% reduction in rates.
ACL have now introduced SISU to some fellow ruthless negotiators trump card.
SISU will now have to compromise or they are screwed. The bank won't play their games or dance to their tune.
Last edited:
cloughie
Well-Known Member
As I understand the situtation ACL have involed the bank etc Maybe ,not fact, but the restructuring is probably making the mortgage payments affordable without the CCFC rent.
Then they can stand upto sisu and call their bluff , ie pay up or GO
At this point sisu have nowhere to go regarding getting their money back.
As far as the ridiculers of hoffman go, and it's not him thats got the money, he is the facilitator, the investors are just playing the waiting game. They are still there
Yes I am going to get some ridicule now
But we will see
Then they can stand upto sisu and call their bluff , ie pay up or GO
At this point sisu have nowhere to go regarding getting their money back.
As far as the ridiculers of hoffman go, and it's not him thats got the money, he is the facilitator, the investors are just playing the waiting game. They are still there
Yes I am going to get some ridicule now
But we will see
Last edited:
dongonzalos
Well-Known Member
I have to agree with that, only a fool would dive in and pay for a club if it was just about to go into administration(as recently proven). Surely if someone is interested they will sit and wait.
Bluegloucester
New Member
Cloughie, you are spot on. Wait and see.....
I agree SiSU (fingers crossed) don't have a leg to stand on, however, up until now its been sharks against seals. They go on about how they saved them with 30 mins to go, but bear in mind the ONLY reason for that, was that SiSU were stalling to get a better deal!
I truly hope you are right, and SiSU have overplayed their hand over this, I just fear history repeating itself. As Pompey and Rangers have shown there is ALWAYS someone ready to pick up the pieces - especially after going into admin. I just hope cov gain enough points to this pawltry league so the new owners can rebuild.
Until SiSU are part of covs bad memories, cov cannot move forward, and fans should avoid lining their pockets. Council need to stand up and publicly refuse SiSU the ground, then they will be forced to go! No one in their right mind is going to pay more than a token £1 to buy the club - just as SiSU didn't"!
They also keep saying they "spent" £34 million, but how much did they get from player sales / ticket receipts etc. Also considering they stated the debts were gone, how is it the club owe £50-60 mill? If they spent £34, that means since they have arrived, SiSU have lost over £16mill / year! Somewhere down the line they MUST be telling porkies!
rupert_bear
Well-Known Member
Regards the comment on Hoffman, often ridiculed on here for not fullfilling all our hopes and dreams immediately. He hasn't gone away or disappeared and as cloughie said was the go-between for any buy-out group. He knows the history, probably the exact position our struggling club are in AND the position SISU are in. This can't continue much longer and i suspect and hope we are entering the end game which might take a few months yet. I don't know Hoffman only what i have read about him, some smart alicks on here will quote what they see as dubious parts of his business career but who cares, he mixes with the highest financial business brains in the land possibly the world so as frustrating as it is watching us thrashing around in this awful division i'm prepared to wait and see and hope.
Diehard Si
New Member
I think of the club goes bump, looking back the real key moment was when some bright spark decided to go ahead with the stadium but with us not owning it. We were ruined from that point.
And I don't blame the council or Higgs for this as they were just stepping in to help. But the whole idea of the stadium was for it to be a CCFC asset and earn the club money. The clowns responsible for pulling the plug at the last minute and got the council for pay the £20 odd million and then sell half to Tesco for £60m needs to be hung, draw and quartered.
That was the key in this clubs decline. We've been royally screwed ever since.
That said I think the council and charity have acted in our interests. If SISU had come along with a plan of buying the stadium at the start, to show investment and get the revenue streams they probably would have sold. However they've watched the club decline and must worry that SISU now only want a share so they can wind up and have a bigger pot to split out.
And I don't blame the council or Higgs for this as they were just stepping in to help. But the whole idea of the stadium was for it to be a CCFC asset and earn the club money. The clowns responsible for pulling the plug at the last minute and got the council for pay the £20 odd million and then sell half to Tesco for £60m needs to be hung, draw and quartered.
That was the key in this clubs decline. We've been royally screwed ever since.
That said I think the council and charity have acted in our interests. If SISU had come along with a plan of buying the stadium at the start, to show investment and get the revenue streams they probably would have sold. However they've watched the club decline and must worry that SISU now only want a share so they can wind up and have a bigger pot to split out.
