Ricoh

Discussion in 'Coventry City General Chat' started by higgs, Jun 8, 2019.

  1. wince

    wince Active Member

    Joined:
    Jun 25, 2013
    Messages:
    638
    Likes Received:
    97
    Credit:
    £173.94
    I agree with you the Op was was the stadium undersold I said there was two prices ,and that is what the court has found ,ain't gonna argue with you because as have said all 3 to blame , percentages are irrevelent ,hate them all ,they are all to blame you and me are not
     
  2. chiefdave

    chiefdave Well-Known Member

    Joined:
    Sep 27, 2008
    Messages:
    21,760
    Likes Received:
    15,790
    Location:
    Coventry
    Credit:
    £5,064.20
    While I appreciate they aren't all comparing exactly the same thing you can't help but have doubts when you look at some of the figures:

    Build cost £115.8m
    June 2006 Initial 50 year lease £21m
    October 2014 Sale price to Wasps £5.5m
    October 2014 200 year lease extension £1m
    April 2015 valuation £48.5m
    March 2017 valuation £60m

    Will be interesting to see the next valuation. Surely has to drop. Loss of a minimum of 23 major event days, hundreds of thousands of customers, significant decrease in value of naming rights etc

    The key for me is obtaining best value for the taxpayer and the way the council conducted the sale didn't achieve that. Even if you ignore the outright lies about the performance of ACL repeatedly made by the council conducting a sale in secret is not on.

    To achieve best value the 200 year lease extension should have already been in place, or at the very least made known it was available. It then should have been properly marketing allowing bids from all interested parties.

    All you need is one other interested party besides Wasps and the price starts going up returning more money to the taxpayer.
     
    djr8369 likes this.
  3. MalcSB

    MalcSB Active Member

    Joined:
    Mar 10, 2012
    Messages:
    473
    Likes Received:
    232
    Credit:
    £467.41
    I assume you meant “that’s NOT why they came back”?
     
  4. oldfiver

    oldfiver Well-Known Member

    Joined:
    Mar 25, 2011
    Messages:
    1,914
    Likes Received:
    441
    Credit:
    £270.50


    Did they not make about £50m on the sale to Tesco?
     
  5. COVKIDSNEVERQUIT

    COVKIDSNEVERQUIT Well-Known Member

    Joined:
    May 27, 2016
    Messages:
    1,825
    Likes Received:
    924
    Credit:
    £905.27
    You can't come on here spreading gossip like that, you'll upset the natives.

    [​IMG]
     
    skyblue025 likes this.
  6. skyblue025

    skyblue025 Active Member

    Joined:
    Jun 12, 2012
    Messages:
    642
    Likes Received:
    199
    Location:
    Hampshire
    Credit:
    £578.25
    They also paid the debt off not just the purchase price of 6.5 million.
     
  7. oldfiver

    oldfiver Well-Known Member

    Joined:
    Mar 25, 2011
    Messages:
    1,914
    Likes Received:
    441
    Credit:
    £270.50
    But the complaint is not against WASPS.
    If they have done nothing wrong why are they so worried about the result of enquiry into another organisation?

     
    mr_monkey and chiefdave like this.
  8. chiefdave

    chiefdave Well-Known Member

    Joined:
    Sep 27, 2008
    Messages:
    21,760
    Likes Received:
    15,790
    Location:
    Coventry
    Credit:
    £5,064.20
    Its not really been paid off though as they've taken out more debt to pay the original debt. They've gone from owing a £14.4m loan to being over £55m in the hole.
     
    skyblue025 likes this.
  9. skyblue025

    skyblue025 Active Member

    Joined:
    Jun 12, 2012
    Messages:
    642
    Likes Received:
    199
    Location:
    Hampshire
    Credit:
    £578.25
    Yes a similar amount that SISU have put into us apparently.
     
  10. chiefdave

    chiefdave Well-Known Member

    Joined:
    Sep 27, 2008
    Messages:
    21,760
    Likes Received:
    15,790
    Location:
    Coventry
    Credit:
    £5,064.20
    Not sure I'd use us as a model of financial stability!
     
  11. SBAndy

    SBAndy Well-Known Member

    Joined:
    Mar 20, 2011
    Messages:
    1,136
    Likes Received:
    769
    Location:
    Sheffield
    Credit:
    £976.74
    They didn’t pay the loan off, they took it on and then refinanced it. I’ll say this til I’m (sky) blue in the face, everyone feared that if SISU got hold of the ground they’d mortgage it to the hilt. That is exactly what Wasps have done and no one batted an eyelid.
     
  12. SkyBlueZack

    SkyBlueZack Well-Known Member

    Joined:
    Jan 19, 2013
    Messages:
    1,763
    Likes Received:
    714
    Credit:
    £285.73
    If it’s been said by you, I think we can safely rule it out.
     
  13. Sick Boy

    Sick Boy Well-Known Member

    Joined:
    Sep 29, 2008
    Messages:
    12,663
    Likes Received:
    6,500
    Location:
    Verona, Italy
    Credit:
    £3,466.72
    Knowing them they’ll somehow manage to increase the value.
     
  14. SBAndy

    SBAndy Well-Known Member

    Joined:
    Mar 20, 2011
    Messages:
    1,136
    Likes Received:
    769
    Location:
    Sheffield
    Credit:
    £976.74
    I’m of a mind to email Gerald Eve (the surveyors used to carry out the last valuation) with a polite notice, as I’d imagine they will be conducting this one as well. Last time a valuation was carried out their comments were as follows:

    “Our valuation is totally dependent on the accuracy of the information which has been supplied to us and upon the assumptions set out herein. If they prove to be incorrect or inadequate, the accuracy of the valuation may be affected.“

    It’s important to notify them that this is a company who has been flagged up as falsifying information within their statutory accounts and are under investigation by the FCA. I maybe wouldn’t take what they say at face value.
     
  15. Grendel

    Grendel Well-Known Member

    Joined:
    Sep 19, 2011
    Messages:
    44,597
    Likes Received:
    13,648
    Credit:
    £3,879.68
    No they didn’t
     
  16. Sick Boy

    Sick Boy Well-Known Member

    Joined:
    Sep 29, 2008
    Messages:
    12,663
    Likes Received:
    6,500
    Location:
    Verona, Italy
    Credit:
    £3,466.72
    It’s actually amazing some of the crap people come out with trying to defend them.
     
    davy67 likes this.
  17. WillenhallSkyBlues

    WillenhallSkyBlues Active Member

    Joined:
    Jul 17, 2011
    Messages:
    458
    Likes Received:
    176
    Location:
    Coventry
    Credit:
    £254.00
    I’m still in absolute disbelief that a load of cov fans have spent the last two days defending the wasps and the council on Twitter and pinning solely the blame onto sisu. It’s an equal 33.3% split in my eyes.

    The Coventry council tax payer did not want the red carpet treatment to be rolled out for a franchise rugby club from London that would put our historic football club at risk. We already had a rugby team!
     
  18. Sick Boy

    Sick Boy Well-Known Member

    Joined:
    Sep 29, 2008
    Messages:
    12,663
    Likes Received:
    6,500
    Location:
    Verona, Italy
    Credit:
    £3,466.72
    They go on about Northampton and then defend a franchise rugby club taking the stadium built for us and being permanently moved to the city away from its actual home. It’s simply mind boggling.
     
    skyblue1991, Grendel, davy67 and 3 others like this.
  19. Nick

    Nick Administrator

    Joined:
    Feb 25, 2008
    Messages:
    99,703
    Likes Received:
    35,009
    Location:
    Coventry
    Credit:
    £11,682.29
    Coventry City watch from gloom while Wasps make a buzz at Ricoh Arena

    All you need to read.

    “It was dire, particularly when compared with the Wasps match which really was a fantastic sporting occasion,”
     
  20. Warwickhunt

    Warwickhunt Well-Known Member

    Joined:
    Nov 16, 2012
    Messages:
    2,668
    Likes Received:
    784
    Credit:
    £383.98
    The EU judgement will be against Civil mesdemenours and not Technical as the JR's were veiwed. I believe the EU will find that CCC did in fact supply State Aid and will get fined accordingly and us poor suffering fans will get hit once again when they have to up the Rates to cover the fine. Oh! what a joy to be a City fan, every man and his dog craps on us? Dont know what the Sunderland fans have got to moan about personally:sour::sour::sour::sour:
     
  21. usskyblue

    usskyblue Well-Known Member

    Joined:
    Jan 31, 2012
    Messages:
    2,725
    Likes Received:
    1,445
    Location:
    Tampa
    Credit:
    £2,087.91
    Organised little bunch aren’t they? The poor fuckers have even lost their stranglehold of the Facebook page. This forum is their best chance to recruit some new thickasshit fact dodgers to pin the blame solely on SISU.
     
  22. stupot07

    stupot07 Well-Known Member

    Joined:
    Mar 20, 2011
    Messages:
    23,968
    Likes Received:
    8,240
    Credit:
    £1,058.08
    It was never put on the open market.

    Sent from my SM-G965F using Tapatalk
     
  23. Nick

    Nick Administrator

    Joined:
    Feb 25, 2008
    Messages:
    99,703
    Likes Received:
    35,009
    Location:
    Coventry
    Credit:
    £11,682.29
    What's happening on Facebook?
     
  24. usskyblue

    usskyblue Well-Known Member

    Joined:
    Jan 31, 2012
    Messages:
    2,725
    Likes Received:
    1,445
    Location:
    Tampa
    Credit:
    £2,087.91
    A sprinkling of common sense. Not all frothy bald boycott wallers
     
    Sick Boy and Nick like this.
  25. Otis

    Otis Well-Known Member

    Joined:
    Mar 26, 2011
    Messages:
    64,489
    Likes Received:
    9,176
    Credit:
    £3,241.66
    ALL you need to read? What about Tim Fisher and his comment (this is 2014 remember) 'The club has made giant strides recently on completing on the land on the outskirts of the city.'

    He said 'Sisu is not playing a game, but genuinely planning on building the stadium.'
     
  26. chiefdave

    chiefdave Well-Known Member

    Joined:
    Sep 27, 2008
    Messages:
    21,760
    Likes Received:
    15,790
    Location:
    Coventry
    Credit:
    £5,064.20
    What on earth has that got to do with the comments made by the trust regarding Wasps?
     
  27. Otis

    Otis Well-Known Member

    Joined:
    Mar 26, 2011
    Messages:
    64,489
    Likes Received:
    9,176
    Credit:
    £3,241.66
    Nowt, but at times I think Sisu get off lightly and all focus elsewhere.

    I think that comment is a stark reminder of what we have under this ownership.
     
    Irish Sky Blue likes this.
  28. clint van damme

    clint van damme Well-Known Member

    Joined:
    May 3, 2015
    Messages:
    12,106
    Likes Received:
    12,504
    Credit:
    £1,788.25
    I've can't remember anyone saying joy cares about the club.
    I've seen plenty defending Eastwood.
    He's from the same mould as Fisher
     
    SkyBlueZack, chiefdave and Nick like this.
  29. slyblue57

    slyblue57 Active Member

    Joined:
    May 15, 2011
    Messages:
    444
    Likes Received:
    98
    Location:
    solihull
    Credit:
    £60.07
    I regularly now post on the Facebook CCFC page . Theres still a vast majority of Sisu is the devil incarnate and Wasps have done no wrong brigade. There are far more now slagging off London Wasps and the Council tho. It needs more people posting against the Wasps / Council PR machine.
    pusb
     
    SkyBlueZack and davy67 like this.
  30. Sick Boy

    Sick Boy Well-Known Member

    Joined:
    Sep 29, 2008
    Messages:
    12,663
    Likes Received:
    6,500
    Location:
    Verona, Italy
    Credit:
    £3,466.72
    Didn’t realise that was a Trust quote, it’s hard to imagine another club’s Trust coming out with that sort of stuff. Shocking
     
  31. NorthernWisdom

    NorthernWisdom Well-Known Member

    Joined:
    Apr 23, 2013
    Messages:
    18,763
    Likes Received:
    14,350
    Credit:
    £2,509.92
    Let's hope we don't use MK away to show the city what they're missing this time out...
     
    clint van damme likes this.
  32. Malaka

    Malaka Well-Known Member

    Joined:
    Jan 23, 2014
    Messages:
    1,432
    Likes Received:
    965
    Location:
    Coventry
    Credit:
    £351.80
    FFS! When CCFC said they didn't want, who would you expect would want to buy it? WASP's needed somewhere, our smart owners played a game, as after all, you can't do much with a sports stadium if no one plays sport in it (or so they thought). That was the gamble, they lost, WASP's moved in. Game Over!
     
  33. clint van damme

    clint van damme Well-Known Member

    Joined:
    May 3, 2015
    Messages:
    12,106
    Likes Received:
    12,504
    Credit:
    £1,788.25
    Even if you accept that how can anyone justify the lease extension?
    If CCFC die I think that will go down as the most damaging blow of all and was nothing but a total act of spite.
     
    Sick Boy likes this.
  34. Nick

    Nick Administrator

    Joined:
    Feb 25, 2008
    Messages:
    99,703
    Likes Received:
    35,009
    Location:
    Coventry
    Credit:
    £11,682.29
    I just posted on social media that the trust should be targeting all parties and not just wasps or sisu. Somebody said they agree and then went off about excusing sisu and only mentioning wasps.

    You couldn't make up some people, it's just weird.
     
  35. Nick

    Nick Administrator

    Joined:
    Feb 25, 2008
    Messages:
    99,703
    Likes Received:
    35,009
    Location:
    Coventry
    Credit:
    £11,682.29
    Where are the fans saying wasps had no choice to move and what are they saying now ccfc have no choice? They are backing it fully I guess?
     
    Sick Boy likes this.

Share This Page