They were getting a lot of heat from fans /constituents at the time.:thinking about:
Well as we know the council went and took it all for themselves. If Timmy isn't fibbing (a big if) then not sure what to make of it.
you do know who makes up the SCG and who was at the meeting dont you Godiva?
as for where it started then was it September or October 2012? because that is when this supoosed agreement on the loan was made? How far back do you choose to go?
TF also said they didnt have to settle the loan at 14m ...... could have got it done for £4m or so he said ....... but per the above they would split the debt £7m each?
I'd say the Guy who went to YB has been the sharpest cookie of them all.This is where it all began ... but nobody cares about the origin of the mess.
Where the bloody Hell are the reporters? Fisher has been saying this for months, yet all people do is call him a liar. Noone dare challenge the CCC or ACL. Nobody ask about Hoffman/Elliot and their timely arrival on the stage. Nobody ask why and how the former ACL chaiman became director at Yorkshire Bank.
But tie a balloon on Fishers car ... that steals the headlines!
Good job by SCG trying to at least keep communication lines open to the club - something the Trust has completely failed the last months.
OSB - that may be my misinterpretation (the £7m each bit). The actual Fisher comment reads as follows:
In 2012 SISU and the council came to an agreement whereby SISU could buy half the Higgs share and the council would not veto the deal.SISU and the council agreed to either split the debt purchase or Sisu buy out all the bank debt. In simple terms this meant that by buying out the debt both halves of the stadium company equity would get an uplift in value – which was the motivation for the council to not veto the purchase of the Higgs stake. But the council then decided they would buy-out all the debt (via a £14m bailout) and the Higgs-Sisu deal never happened. Fast forward to Feb 2013 and ACL say they will no longer negotiate. In March ACL forced the admin issue and issued an administration order - the rest we know.
Apologies if i've confused things there.
Geoffrey Robinson.
They've not put up any money to invest in the club and that's the principle criticism I would have of them”
"We've got to find ways of making them do so [leave]. They've lost credibility with the council and the charity.
Neither of them think they're the proper people to take ownership of the stadium, which should always have been with the club.
"I don't know if they're good owners or not. What we do know is that they've not put up any money to invest in the club and that's the principle criticism I would have of them."
you do know who makes up the SCG and who was at the meeting dont you Godiva?
as for where it started then was it September or October 2012? because that is when this supoosed agreement on the loan was made? How far back do you choose to go?
TF also said they didnt have to settle the loan at 14m ...... could have got it done for £4m or so he said ....... but per the above they would split the debt £7m each?
Yes you know the rent strike that involved SISU paying almost nothing to use a fantastic Arena whilst handing out stupid contracts to underforming or injured players and slipping down the League pyramid. All the while dumping strange and ludicrous £2.6 million administration charges on the club, adding to the debt pile that we were told didn't actually exist?
I still don't buy any of it, but I would like a squiz at any site plans and architectural designs.
Tim Fisher pores over the plans for HR2 with architect Chad Valley.
Loving Tim's Christmas jumper... you just know he's still got one of those...
The origin of strained relationships between council/charity & SISU goes back much further than TF would like to suggest.
http://www.bbc.co.uk/sport/0/football/15823850
Also the council vote to take over the debt was unanimous http://www.bbc.co.uk/news/uk-england-coventry-warwickshire-21033825
If there were issues about it not being the right thing to do then I think there would have been some opposition, the unanimity of that vote tells me that more is yet to come out.
The construction of the Otium Entity is where this was nurtured ,allegedly TF was operating In the wings months before taking his directorship.
OSB - that may be my misinterpretation (the £7m each bit). The actual Fisher comment reads as follows:
In 2012 SISU and the council came to an agreement whereby SISU could buy half the Higgs share and the council would not veto the deal.SISU and the council agreed to either split the debt purchase or Sisu buy out all the bank debt. In simple terms this meant that by buying out the debt both halves of the stadium company equity would get an uplift in value – which was the motivation for the council to not veto the purchase of the Higgs stake. But the council then decided they would buy-out all the debt (via a £14m bailout) and the Higgs-Sisu deal never happened. Fast forward to Feb 2013 and ACL say they will no longer negotiate. In March ACL forced the admin issue and issued an administration order - the rest we know.
Apologies if i've confused things there.
Good job by SCG trying to at least keep communication lines open to the club - something the Trust has completely failed the last months.
Sort of explains Sisu's annoyance and why they have gone for the 'Judicial review'
Not sure if I'm misunderstanding you or not but just to be clear: that article is about unanimous support for bailing out ACL after the Sisu deal went south, not the Sisu deal itself.
If I had to hazard a guess it would be that upon further inspection of the Sisu offer the council realised they were going to get screwed. This is pretty standard for any Sisu contract. They then pulled out. I'd also suggest that Sisu are to blame for any bad blood due to their negotiating tactics (legal but not ethical)
The long and the short of it is there was always a very generous offer to the club for the Ricoh the club got greedy and are now throwing their toys out the pram to get what they want.
Fuck em. I hope they burn. This isn't about logic or reason any more. They fucked with something dear to me and now I want revenge.
I'm anti-capital punishment and pacifist. If someone messed with my daughter Id kill then in a heart beat even though I know its wrong. Same deal here.
Well I can see scenarios where it might, if a potential offer came along that was better for the council's wider needs, agenda and policy.
We really need this judicial review over and done with, one way or another.
I'd seriously question the timing and motives for this JR .
The CCC bailout occurred late Jan IIRC , Papers Issued April, no prospect of being heard before the season Kick off,Too convenient ??:thinking about:
Why such a delay?? Now an obstacle to negotiation,or just the pace of the Law in this country. I'd have expected a much swifter Action.
FWIW I can doubt it too. The cynical part of me says what better way to introduce doubt than a spot of smoke without fire.
However, if they happen to be right, it's just as important it's over quickly, as that smoke would be real!
Either way it's not to our advantage for it to drag on.
Anyway, the law does indeed move slowly! Might be important to us, but in the scheme of things, just another case to fit into a schedule.
I wish I'd have got the full Subbuteo stadium set. I had the TV camera gantry and the orange Adidas Tangos* and that was it.
*in case there was ever heavy snowfall in my bedroom
FWIW I can doubt it too. The cynical part of me says what better way to introduce doubt than a spot of smoke without fire.
However, if they happen to be right, it's just as important it's over quickly, as that smoke would be real!
Either way it's not to our advantage for it to drag on.
Anyway, the law does indeed move slowly! Might be important to us, but in the scheme of things, just another case to fit into a schedule.
I wanted it too, but looking back now through adult eyes you wouldn't have been able to play it anyway as the stands would be in the way. I had the TV gantry too.
Its more to do with the Initial delay of three months that gives me doubt more than anything else.
For better or worse, a delay is 'normal'
Sorry Ashdown, the general line is that SISU didn't hand out enough stupid contracts and sold all the best players causing relegation.
Or has that changed as well now?
If I've got this right, Timmy claims that the original deal was for the council and SISU to each buy out half of ACL's bank debt.
What actually happened was that the council bought out all of it. SISU then launched their legal action, claiming that this was an illegal act by the council.
Doesn't it seem a little odd that in the original deal SISU were (presumably) happy for the council to buy the debt, but then all of a sudden turn into "concerned citizens" trying to "prevent an abuse of council power"?
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