Second third party debt order (5 Viewers)

skybluehugh · Mar 1, 2013

Sky Blue Pete said:
But what else do we have? We are emotional addicts and always will be. Was disgraceful though

But what do we have now. Going from one day to the next worrying when ever I look on Sky or the BBC website that I a going to see the headline COVENTRY CITY GO INTO ADMINISTRATION. If we are going to do lets get the dam thing over with and really see if their is no one out there who wants us. If there is brilliant, if not then at least we can start to grieve the loss of our club and start afresh like others have. But at least we would know we're we stand without all the bullshit that is going on at the moment.

Grendel · Mar 1, 2013

coundonskyblue said:
Exactly. Our crowds are 5000 above the 'average league 1' (to quote Tim Fisher), which at an average ticket price of £15 equates to £1.72m.

It must be compulsory at other clubs to buy an overpriced pie.

...or the original rent plus match day costs. Makes it sound really reasonable doesn't it. If your calculation is correct 50% of crowd money spent on the "fair" rent.

coundonskyblue · Mar 1, 2013

Grendel said:
...or the original rent plus match day costs. Makes it sound really reasonable doesn't it. If your calculation is correct 50% of crowd money spent on the "fair" rent.

I've never said £1.2m was a fair rent. I have no problem with the club ASKING for a reduction, and accepting that the club is in this mess because of it's own actions over the last 10-15 years.

If they went to ACL and asked for help, whilst accepting that ACL were under no legal obligation to help them, then I would have far more support for their actions.

Either way, £400k rent has been offered. Even with no income streams that still gives us an advantage of well over £1m.

Grendel · Mar 1, 2013

coundonskyblue said:
I've never said £1.2m was a fair rent. I have no problem with the club ASKING for a reduction, and accepting that the club is in this mess because of it's own actions over the last 10-15 years.

If they went to ACL and asked for help, whilst accepting that ACL were under no legal obligation to help them, then I would have far more support for their actions.

Either way, £400k rent has been offered. Even with no income streams that still gives us an advantage of well over £1m.

.m

The rent is not £400,000 for this season though is it. It is beyond belief you just shrug and say "we agreed it" however outrageous it is. Every other clubs supporters would demand a reduction. Unbelievable.

skybluehugh · Mar 1, 2013

Grendel said:
.m

The rent is not £400,000 for this season though is it. It is beyond belief you just shrug and say "we agreed it" however outrageous it is. Every other clubs supporters would demand a reduction. Unbelievable.

But it is how you ask. If someone said to you " I've blown all my money gambling so give me a break and stop asking me to pay the rent I owe you" and then stops paying you anything, you would tell them to take a jump. But if they said "look my income has dropped due to the position the firm is in at the moment, any chance we could look at if it is possible to lower the rent I pay until things improve, and continue to pay as much as you can HONESTLY pay, you are going to be much more open to listening to their worries aren't you?

Grendel · Mar 1, 2013

skybluehugh said:
But it is how you ask. If someone said to you " I've blown all my money gambling so give me a break and stop asking me to pay the rent I owe you" and then stops paying you anything, you would tell them to take a jump. But if they said "look my income has dropped due to the position the firm is in at the moment, any chance we could look at if it is possible to lower the rent I pay until things improve, and continue to pay as much as you can HONESTLY pay, you are going to be much more open to listening to their worries aren't you?

Why? The club was at its lowest ebb when they first came up with the £1.2 million tag. They certainly couldn't give a toss then.

Harry Grout · Mar 1, 2013

Grendel said:
.m

The rent is not £400,000 for this season though is it. It is beyond belief you just shrug and say "we agreed it" however outrageous it is. Every other clubs supporters would demand a reduction. Unbelievable.

What I find unbelievable is that this saga has been dragging on for months now and there is no end in sight. Whether you side with SISU or ACL/Council, we should all be siding with CCFC and I can't see anyone or any organisation who is clearly sticking up for the interests of CCFC here.

It's an absolute disgrace that these clowns are conducting this soap opera on a very public stage to the detriment and damage of CCFC. And at a time when our sole focus should be on the team and the prospect of play off's and hopefully promotion. But it seems that football is getting second billing here. How the team manage to win any games with all this shit going on is beyond me.

Warwickhunt · Mar 1, 2013

Sky Blue Pete said:
I think only people who go to games should be allowed an opinion

i do 45 years me ol fella me lad! Bit of a strange thing to say?

skybluehugh · Mar 1, 2013

Grendel said:
Why? The club was at its lowest ebb when they first came up with the £1.2 million tag. They certainly couldn't give a toss then.

The club did not have to sign it if they thought it was too much, Shitsu could have challenged it when they took over, but they didn't. as i said in another tread, If ACL don't give a toss about CCFC and want to distroy the club, WHY haven't they set in motion the winding up order they have every right to. but instead they have tried to bend over backwards to help us out and lower the rent. I don't care what the figure is either 200.000, 400.000 or what, they have offered to lower it when they have no real need to by law. i don't care anything about other income streams, what has been offered is to pay less than half what we are CONTRACTED to pay. Any other business owners including football would snap ACL's hand off. But not ours they just want to see if thay can screw more out of their landlords. Their just like my son, never happy with the time i let him have on his Xbox , always "please dad just 1/2hr more" but for his own good and my own sanity i have to say no more, and that is just what point ACL have reached.

Sky Blue Pete · Mar 1, 2013

We are where we are. Screw why, how can the parties resolve it? Answer they can't cause john mutton has said hell will freeze over before they sell to sisu and sisu keep talking in public about acl being bankrupt!! If they were kids you would bang their heads together and not leave the room till its all sorted!

torchomatic · Mar 1, 2013

What nonsense! Of course the club had to sign it, they had no choice. What was the alternative?

skybluehugh said:
The club did not have to sign it if they thought it was too much,

Mary_Mungo_Midge · Mar 1, 2013

torchomatic said:
What nonsense! Of course the club had to sign it, they had no choice. What was the alternative?

Walk away and don't do the deal? And clearly tell everyone that the club will never be viable with that rent and without access to other revenues

davebart · Mar 1, 2013

torchomatic said:
What nonsense! Of course the club had to sign it, they had no choice. What was the alternative?

The same alternative as they have now. They need a ground and ACL have one for rent. take it or leave it.

davebart · Mar 1, 2013

there is a lot of sense being talked on this thread. I am actually enjoying reading it. well done everyone.

torchomatic · Mar 1, 2013

As I said, the club had no choice but to sign the unfair rent deal. What else would they have done. And what would ACL have done for that matter? Embarrassing for all, a brand spanking new stadium without a football team.

I don't know who's worse our idiotic board for signing the deal or for PWKH's lot for their blatant profiteering. Either way, the club was kicked while it was down.

Mary_Mungo_Midge said:
Walk away and don't do the deal? And clearly tell everyone that the club will never be viable with that rent and without access to other revenues

Mary_Mungo_Midge · Mar 1, 2013

torchomatic said:
As I said, the club had no choice but to sign the unfair rent deal. What else would they have done. And what would ACL have done for that matter? Embarrassing for all, a brand spanking new stadium without a football team.

I don't know who's worse our idiotic board for signing the deal or for PWKH's lot for their blatant profiteering. Either way, the club was kicked while it was down.

It's not profiteering. If you do the maths on building a stadium that holds 30K+, and fund it over a reasonable period; with interest, it points to £1m plus per annum.

The King Power stadium - for example - cost £37m; try working out paying for that over 40 or 50 years.

Now, other people may pay lower rentals; but that's out of kilter with the cost of what they get. Some councils may make a strategic decision to do so. Doesn't mean all have to. Especially when less than 5% of the population of the city go to games.

That's a different debate; but £1m per season bears a resemblance to the cost of build, certainly.

Or are you saying that the club - having got into financial difficulty and reliant on the council - should also have had a divine right for the 95% of the rates payers who don't go to games to subsidise their stadium for them?

Mary_Mungo_Midge · Mar 1, 2013

Here you go, Torchy; try £37m over 30 years at 3%. Capital value £37m, interest £33m; total £70m.

£70m divided by 30 seasons = £2.33m/annum.

That's the true cost of building a stadium like Leicester's and financing it - if anyone will - over 30 seasons. Very simplistic, but you begin to get the idea

skybluehugh · Mar 1, 2013

Grendel said:
Why? The club was at its lowest ebb when they first came up with the £1.2 million tag. They certainly couldn't give a toss then.

You go to a landlord you love the house he has got to rent he tells you how much he wants in rent per mont. I then have a clear choice wather to pay that rent for the lovely house or walk away. CCFC (Sorry the then idiot owners) had an even better hold over ACL because as Torch said in a later post a brand new stadium and the only people who are intreasted in renting it or could use it to its full potential have refused to agree with the amount of rent, ACL have a choice lower the amount or have that empty ground that they are so worried about. Hobson's choice

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