Sisu refuse to pay the Ricoh rent for a second month! (1 Viewer)

OyJimmy · May 3, 2012

According to CWR!

Acl should now ask the courts for a winding up order. Time to resolve the clubs finances once and for all

Sub · May 3, 2012

well theres a suprise :facepalm::facepalm:

blueflint · May 3, 2012

it only gets worse what a shambles

Otis · May 3, 2012

Bit far removed from the lovely, fluffy, Sky Blue tinted glass world Joy Seppala wanted to put across eh.

Can't see how not paying the rent while you are supposedly having meaningful conversations is the way forwards. Usually if you are going to strike you threaten to strike and try and talk to the employer about the strike before you strike.

You don't usually just strike and then try to have constructive conversations with the employer.

OyJimmy · May 3, 2012

ACL should not hide from issuing a winding up order. Either Sisu pay up or they call in the administrator. The clubs finances must be resolved before we go any further.

One option I hope the council push for would be for ACL to buy the club from SISU. If successful the council should then sell the combined business to anyone but SISU.

torchomatic · May 3, 2012

No Rent Payment Again This Month

The main headline on CWR this morning as I was coming into work was that the Club have failed to pay the rent again for a second month running.

Wrenstreetcarpark · May 3, 2012

why should Joy Seppala pay rent? She has already said that she wants the Council and Higgs to give her ACL for nothing because she doesn't want to put any more money into Cov or CCFC. She says she has spent £40m and got nothing back so now she wants ACL fo nothing so that she can get the value out of that. Oh and if that doesn't happen she will walk away.
Remember who she is and what her reputation is. The first time she ever came to Cov was 10 March 2012 for the Birmingham game. That shows just how important the City and Club are to her. For her it is money, money, money. She invested, and lost, money, now she wants it back and she doesn't care who she hurts in the process.

torchomatic · May 3, 2012

Christ, you're all so blinded with hate for SISU it seems that you almost want the club to go down the tubes. Amazing!

OyJimmy said:
ACL should not hide from issuing a winding up order. Either Sisu pay up or they call in the administrator. The clubs finances must be resolved before we go any further.

One option I hope the council push for would be for ACL to buy the club from SISU. If successful the council should then sell the combined business to anyone but SISU.

torchomatic · May 3, 2012

Oh yes! Great idea, let's wind the club up. :facepalm:

OyJimmy said:
According to CWR!

Acl should now ask the courts for a winding up order. Time to resolve the clubs finances once and for all

Astute · May 3, 2012

So at least if we get rid of our club we get rid of SISU. Good idea?

Think you had better start thinking of a plan B quickly

coop · May 3, 2012

The council shouldn't expect anyone to pay £100k a month for playing at the ricoh fullstop especialy now being in league 1 i no its a contract but to me the council dont give a shit about CCFC either.Why sbould we pay almost £50k a game we probably dont even take much more than that in gate receipts.

jabharty · May 3, 2012

Oh, great! Another month. Can this get any worse?
What are the bookies offering on administration? Could be a good bet.....

Otis · May 3, 2012

jabharty said:
Oh, great! Another month. Can this get any worse?
What are the bookies offering on administration? Could be a good bet.....

Worse? It's not getting worse. It's getting better. Joy came on and said everything will be fine and they are in it for the long haul.

What's worse is, that some people on here bought it.

skybluesteve76 · May 3, 2012

I wouldn't pay 100k for something I ain't gonna use until August either!
The council need to drop the rent immediately!

All the best

covmutley · May 3, 2012

So Sisu talk about how important the club is to the city and its economy and commnunity just before not paying rent for the stadium half owned by the city. Seems they are simply trying to use fans to put pressure on the council to rework the deal and make ACL to look like the bad guys who are killing the club and city off.

jabharty · May 3, 2012

Otis said:
Worse? It's not getting worse. It's getting better. Joy came on and said everything will be fine and they are in it for the long haul.

What's worse is, that some people on here bought it.

Great. The tentacles of SISU grab mpre people, and brainwash them.
Hmm, everything will be fine! xD

Otis · May 3, 2012

Yep everything will be fine. The trees are made of marshmallows, the streets are paved with gold and on the horizon is a rainbow made from diamonds.

The world of CCFC is The Sound of Music and Joy Seppala is Julie Andrews.

Tad · May 3, 2012

Otis said:
Yep everything will be fine. The trees are made of marshmallows, the streets are paved with gold and on the horizon is a rainbow made from diamonds.

The world of CCFC is The Sound of Music and Joy Seppala is Julie Andrews.

Think I speak for everyone when I say, I want a marshmallow tree

On a more serious note, we're screwed.

Otis · May 3, 2012

Tad said:
Think I speak for everyone when I say, I want a marshmallow tree

On a more serious note, we're screwed.

Marshmallow sums up the City perfectly, cos we've got a very soft underbelly.

CovLis86 · May 3, 2012

Its ridiculous. My only hope is that this is somehow breaking some regulation, and that Administration can be enforced for not paying the bills, then Hoffman and Co can then prove how serious they are, or if they are all a load of hot air aswell.

SkyblueBri · May 3, 2012

Time we played them at their game

Sisu only know one way of playing the game and it is hard ball. Look at how they threatened the old share holders, give us your shares or club goes bust.
Well I think it is time everyone from Council to ACL played them at their game and called their bluff.
We need a clean start in Div 1 and if that start comes with -10 points then that would be worth it, or we continue as now enduring a death of a 1000 cuts.

Tank Top · May 3, 2012

It appears!!! that the council/Arena Coventry limited, have been herded into a classic catch 22 situation, and for the first time since they arrived
SISU/Finance, have revealed a course of action that they intend to pursue, with them defaulting on a second rent payment, they have put the onus on the council/ACL, either to pursue the matter through the courts, or to write off what is owed, and further more, reduce the rent on the stadium, if its the former, I suppose SISU will file for insolvency, and the council/ ACL will be seen as the villians of the piece, and the ones who Robbed 10,000 or so fans of their Football club.
On the other side of the coin, if the Council/ACL, cave in to SISU,s demands, there will be thousands of covenrty rate payers, up in arms about having their money used to subsidise a football club, and this at a time when services like police, fire service, schools,NHS, Road maintainence
etc are being cut,
This is a very hot political potato, for the council, in fact its a lose/lose situation, whatever way they vote.
if "YOU" were a councilor, charged with handling the public purse, for the community at large...Which way would you vote, knowing that it could cost you your seat at the next local elections.
This post is intended to be a neutral view, As a Council tax payer, and a Sky blue fan of over 50 yrs.

Hugh Jarse · May 3, 2012

coop said:
The council shouldn't expect anyone to pay £100k a month for playing at the ricoh fullstop especialy now being in league 1

Sorry Coop but are you talking 50p bollocks or £10 bollocks.

This is business, there is a written contact which the owners have signed which states they will pay x per month for the priviledge of using the stadium. I've not seen anyone saying that they know of a clause that reduces the amount should we fall upon hard times. Until the contact is renewed, we have to pay the going rate so, c'mon everybody, let's start living in the real world!

italiahorse · May 3, 2012

OyJimmy said:
According to CWR!

Acl should now ask the courts for a winding up order. Time to resolve the clubs finances once and for all

This is called "cutting off your nose to spite your face"

Administration = Liquidation - as in our case as no one wants us.

Come on lets get behind the only game in town.

valiant15 · May 3, 2012

So sisu are now squatters lol.

Tank Top · May 3, 2012

valiant15 said:
So sisu are now squatters lol.

Yes I suppose they are, but how can you evict some one thats never there

oldskyblue58 · May 3, 2012

Notice how it is framed as "with held the rent" ...... implies they have the money but do not want to pay it. It is a much bigger problem if they simply can not pay the rent because they have no money........ that says they are insolvent and should stop trading immediately.

Would not want to be the auditors trying to sign off the accounts on a going concern basis thats for certain!

Also if ACL etc are seen as the bad guys in all this then thats a better story to tell their investors who apparently could lose £40m than "sorry guys we messed up"

twistandshout · May 3, 2012

I suppose ACL are selling the same product twice ,CCFC are meant to pay rent even though they are not using the facilities .While ACL also make money out of the Olympics , who are using the facilities!

Sub · May 3, 2012

just stinks of SISU blaming everybody else and trying to cover there own arses and expecting the taxpayers to bail out their investors so they get a return for their invetment!!

Mumford and Daughter · May 3, 2012

coop said:
The council shouldn't expect anyone to pay £100k a month for playing at the ricoh fullstop especialy now being in league 1 i no its a contract but to me the council dont give a shit about CCFC either.Why sbould we pay almost £50k a game we probably dont even take much more than that in gate receipts.

an agreement was signed

when you sign a contract you have to adhere to it

like when you purchase your car on finance , cant 2 years down the line decide its too expensive

sisu been all nice in the paper the other day and now we know why ?

and all the guillble posters on here believed them

TheBoss · May 3, 2012

why would they pay it if they're trying to negotiate a better fee? makes sense to me

valiant15 · May 3, 2012

Why should they get a better fee? If i withhold my council tax payments from coventry city council can i negotiate a better fee?

oldskyblue58 · May 3, 2012

TheBoss said:
why would they pay it if they're trying to negotiate a better fee? makes sense to me

Because right now they are in breach of contract which means they have no ground which means they have no business and technically the club could be seen as out of business .... it is only the goodwill of ACL that is allowing them to be there and that they continue

TheBoss · May 3, 2012

Mutton stated recently that the Rent for season 2012/13 needs to be paid in full, so Id imagine if a reduced rental fee is agreeed then SISU will pay it all in full.

Brighton Sky Blue · May 3, 2012

If you wanted to get better rent terms on a flat, you wouldn't achieve it by withholding it-the landlord would chuck you out unless he was being extremely generous or stupid.

Sisu refuse to pay the Ricoh rent for a second month! (1 Viewer)

Member

Well-Known Member

Well-Known Member

Well-Known Member

Member

Well-Known Member

New Member

Well-Known Member

Well-Known Member

Well-Known Member

Well-Known Member

Member

Well-Known Member

New Member

Well-Known Member

Member

Well-Known Member

Member

Well-Known Member

Well-Known Member

Well-Known Member

New Member

Well-Known Member

Well-Known Member

New Member

New Member

CCFC Finance Director

Well-Known Member

Well-Known Member

New Member

New Member

New Member

CCFC Finance Director

New Member

Well-Known Member

Users who are viewing this thread

Privacy & Transparency

Privacy & Transparency