“Nobody has thought of the club, nobody has thought of the supporters, people have just wrecked the club, it’s an absolute tragedy."
I sold that 30-acre piece of land at the time for £66.5million, well I don’t know where that money went after I’d gone. Somehow or other the stadium was no longer our
Mr Richardson was also criticised the former Ricoh Arena operators during an exclusive interview with the Telegraph
I assume was for the club and not himself? So did tesco give the club 66.5 million?
What was it somebody else said about the council doing something and being in on the deal / stealing the deal or something?
What's going on:
http://www.coventrytelegraph.net/news/coventry-news/former-coventry-city-fc-supremo-10989495
One thing is for sure, GR is / was a very powerful man with great influence. I don't think Richardson was party to any confidentiality agreements or was he?
Richardson has always maintained that he did the deal directly with Tesco and that the £66.5m generated should therefore be considered to be an investment from CCFC.
When it went tits up the original plan was for the club and the council to each own 50% of the freehold. The council then, very late in the day, said either they got 100% of the freehold or the whole thing was off.
How did it go from the land being owned by CCFC to freehold to Council? Where did the 66 million go?
£59.4m went towards the Ricoh according to the completion report. No idea what happened to the rest.
The council used the income to fund the building of the stadium. The question is who owned the land prior to Tesco purchasing it. I don't think CCFC did but it isn't clear.
trouble is he will take the truth to the grave, we would all be pig sick if we knew the truth! as Jack Nicholson once said "you can't handle the Truth!"What's going on:
http://www.coventrytelegraph.net/news/coventry-news/former-coventry-city-fc-supremo-10989495
One thing is for sure, GR is / was a very powerful man with great influence. I don't think Richardson was party to any confidentiality agreements or was he?
So the club effectively paid half towards the build?
That's always been Richardson's stance. He has maintained that should be classed as investment by CCFC in contrast to £10m put in by the council.
2002 accounts for CCFC say that the option to purchase the site had lapsed in the year. So CCFC Group never actually owned it. So who did he sell it for?
The club overdraft bank account went to £7.7m 2002 but then you add in another £10m of bank loans - so they owed the bank nearly £18m
In May 2001 before he left in January 2002 the club had total liabilities in the audited accounts of £60m
Selective memory and "not my fault guv" is the impression I get from this but that's just my opinion.
Not sure why the CT keep dragging up these characters who all contributed to the mess we are now in.
Not sure why the CT keep dragging up these characters who all contributed to the mess we are now in.
They seem to be keen to present a narrative showing a tenancy at the Ricoh as a viable option. The question is have they formed this view independently or has it been presented to them by either Wasps or the football club?
scg notes out today seem again to show it isn't the owners' point of view.They seem to be keen to present a narrative showing a tenancy at the Ricoh as a viable option. The question is have they formed this view independently or has it been presented to them by either Wasps or the football club?
if the club only ever owned the option to purchase the site whose hare brained idea was it to commit millions in costs to it. surely first priority is to secure the site then commit build costs
OSB - joy still seems to be insisting that SISU have invested over 60 million. i've been following the accounts for years and still don't get close to this figure they keep insisting on.or have they read it here for years
"hare-brained" hmm - retractable pitches, underground car parking were a few other suggestions the former chairman came up with.if the club only ever owned the option to purchase the site whose hare brained idea was it to commit millions in costs to it. surely first priority is to secure the site then commit build costs
Historic newspaper reports are always interesting...
"When Richardson first mooted the idea of a new ground in 1997 his vision was to replicate Vitesse Arnhem's state-of-the-art arena in Holland, including - at considerable cost - a sliding pitch. Although he bought 80 acres of land from British Gas for £2m - 30 acres of which were later sold to Tesco for £65.5m - the Arena 2000 project failed to get off the ground."
http://www.theguardian.com/football/2005/aug/20/newsstory.coventry
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