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Sisu bullying back-firing? (10 Viewers)

  • Thread starter The Lurker
  • Start date Jun 2, 2016
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Astute

Well-Known Member
  • Jun 4, 2016
  • #176
Grendel said:
You can't even get that correct FFS

Who in any company agrees dividends - please don't tell me you don't know.
Click to expand...
I suppose CCC still decide what goes on at ACL still?
 

Astute

Well-Known Member
  • Jun 4, 2016
  • #177
Grendel said:
The formula price was far more. They paid about £3.5 - £4 million for share capital didn't they?
Click to expand...
The formula price that was never asked for that you constantly go on about?

And Higgs gave 6.5m to CCFC altogether as you know but you try to change history on this as well. And if anyone corrects you as usual it just starts the shitfest off yet again.
 

tisza

Well-Known Member
  • Jun 4, 2016
  • #178
Nick said:
When was that?
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seriously Nick can we not pin some of the basic documents (maybe in the Ricoh/SISU section) like the Arena costings, maybe a link to the Trust's Arena timeline, court findings so we don't have to keep repeating the old basic facts about the Ricoh & its history?
 

fernandopartridge

Well-Known Member
  • Jun 4, 2016
  • #179
Yes
tisza said:
seriously Nick can we not pin some of the basic documents (maybe in the Ricoh/SISU section) like the Arena costings, maybe a link to the Trust's Arena timeline, court findings so we don't have to keep repeating the old basic facts about the Ricoh & its history?
Click to expand...
Good idea. The £21m is many things though, a contribution to the build cost but also a lease premium. It's all rather messy really, shows what an utter dogs dinner the whole arrangement was.
 

Nick

Administrator
  • Jun 4, 2016
  • #180
Ill have a look for a knowledge base plugin
 

Grendel

Well-Known Member
  • Jun 4, 2016
  • #181
Astute said:
The formula price that was never asked for that you constantly go on about?

And Higgs gave 6.5m to CCFC altogether as you know but you try to change history on this as well. And if anyone corrects you as usual it just starts the shitfest off yet again.
Click to expand...

No the share capital for ACL was not £6.5 million - that included prior loans - the purchase was less -around £4 million wasn't it?
 

Grendel

Well-Known Member
  • Jun 4, 2016
  • #182
Astute said:
I suppose CCC still decide what goes on at ACL still?
Click to expand...

I'll help you. Directors make decisions not shareholders - it's directors of the company.

Take a look at the ACL directors when you think 50% have any semblance of influence.
 

ccfcway

Well-Known Member
  • Jun 4, 2016
  • #183
Nick said:
Ill have a look for a knowledge base plugin
Click to expand...

and maybe move this lot to the....

Ricoh Row / Politics / SISU Section

forum
 

James Smith

Well-Known Member
  • Jun 4, 2016
  • #184
Ian1779 said:
Go back to 2003 and the deal that got us in the Ricoh - as a club we had our pants down. If Higgs truly wanted the club and stadium united then why effectively force us into such a shit deal? I know it wasn't just them in terms of the deal, but the bail out around that time came from them.
Click to expand...

Did the Higgs force us into the rental deal? I believe that Sir Higgs suggested a (rejected) sliding rent scheme which we don't know the details of. It was also established in one of the court cases that the amount of the rent was in large part determined by the YB loan repayments. I don't know why we weren't more vocal about the rent straight after Sisu took over.

Going back into the distant past as I understand it (so probably totally wrong) it wasn't just the Co Op we had borrowed from, but also the Higgs as well. At a guess the Co Op didn't want to bankroll us to the level our overdraft had got to. You have to wonder who else would have loaned our basket case of a club the money other than that basket case of a bank. I'd be interested to know when the Higgs first loaned us any money.
 

James Smith

Well-Known Member
  • Jun 4, 2016
  • #185
Nick said:
They blocked sales before sisu were here...
Click to expand...

Really? Someone wanted the Ricoh before Sisu came into our lives? Do you have any idea who it was?
 
Last edited: Jun 5, 2016

chiefdave

Well-Known Member
  • Jun 5, 2016
  • #186
fernandopartridge said:
a contribution to the build cost
Click to expand...

Think the £21m was for the fit out once the build was complete. So they had the actual stadium but not in a useable condition. No idea why that wasn't in the budget in the first place, seems a big oversight.
 

tisza

Well-Known Member
  • Jun 5, 2016
  • #187
chiefdave said:
Think the £21m was for the fit out once the build was complete. So they had the actual stadium but not in a useable condition. No idea why that wasn't in the budget in the first place, seems a big oversight.
Click to expand...
no it was mainly part of the construction costs taken early in the build process.
fit-out was originally costed at 4.4m but there was an over-run of 2.6m (total 7m). financed 1.1m ACL & 1.5m CCC.
here you go Nick you can start your knowledge base
 

Attachments

  • 07 Ricoh Arena Development.pdf
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Astute

Well-Known Member
  • Jun 5, 2016
  • #188
tisza said:
no it was mainly part of the construction costs taken early in the build process.
fit-out was originally costed at 4.4m but there was an over-run of 2.6m (total 7m). financed 1.1m ACL & 1.5m CCC.
here you go Nick you can start your knowledge base
Click to expand...
It is already part of the knowledge base. The knowledge base that is frequently ignored/forgotten about when wanting to have a dig at certain sides or when trying to take some of the blame away from other certain parties. Just a normal day on SBT.

Then the same people that frequently misquote the same things wonder why there are so many stupid arguments and debates that just go around in circles.
 

Astute

Well-Known Member
  • Jun 5, 2016
  • #189
chiefdave said:
Think the £21m was for the fit out once the build was complete. So they had the actual stadium but not in a useable condition. No idea why that wasn't in the budget in the first place, seems a big oversight.
Click to expand...
CCC put money in. Tescos put money in. There were grants from all over the place. There was then a shortfall. This was covered by the loan.

I find it hard to believe that people that have been on here for a long time and have taken part of these discussions before where the costing of the stadium has been shown several times can't remember any of it. But they never fail to remember anything that CCC have done wrong.
 
Reactions: wingy, Sky Blue Kid and Captain Dart

chiefdave

Well-Known Member
  • Jun 5, 2016
  • #190
tisza said:
no it was mainly part of the construction costs taken early in the build process.
fit-out was originally costed at 4.4m but there was an over-run of 2.6m (total 7m). financed 1.1m ACL & 1.5m CCC.
here you go Nick you can start your knowledge base
Click to expand...
Should have checked the document before I posted! The £21m was used to repay the Prudential loan that was taken out to cover the shortfall in funding for the build. The fit out costs were on top of that and included in the amount ACL borrowed from Yorkshire Bank.

Still you would have thought that someone would have remembered things like a scoreboard when doing the original budget!
 

Astute

Well-Known Member
  • Jun 5, 2016
  • #191
chiefdave said:
Should have checked the document before I posted! The £21m was used to repay the Prudential loan that was taken out to cover the shortfall in funding for the build. The fit out costs were on top of that and included in the amount ACL borrowed from Yorkshire Bank.

Still you would have thought that someone would have remembered things like a scoreboard when doing the original budget!
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You would have thought that Richardson would have worked out how much a stadium would have cost and noticed that we didn't have a pot to piss in before thinking it was all a good idea.
 
Reactions: martcov

fernandopartridge

Well-Known Member
  • Jun 5, 2016
  • #192
Astute said:
You would have thought that Richardson would have worked out how much a stadium would have cost and noticed that we didn't have a pot to piss in before thinking it was all a good idea.
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He had left the club by 2003 though and the club retained an option on HR.
 

Grendel

Well-Known Member
  • Jun 5, 2016
  • #193
Astute said:
You would have thought that Richardson would have worked out how much a stadium would have cost and noticed that we didn't have a pot to piss in before thinking it was all a good idea.
Click to expand...

He did - that's why he had a safety valve - which his successor sold to keep his friends debt secured for a while longer.
 

Astute

Well-Known Member
  • Jun 5, 2016
  • #194
fernandopartridge said:
He had left the club by 2003 though and the club retained an option on HR.
Click to expand...
An option without the money to buy it back. The money raised by selling HR was used to keep our club afloat for a few months. Just long enough for Richardson to get out. And now he says that he bought the land and sold some of it to Tescos. And we all know that it isn't true.
 

tisza

Well-Known Member
  • Jun 5, 2016
  • #195
didn't the option revolve around the proposed stadium area subsequently being chosen as the new National Stadium site and the club being compensated if it was?
 
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