The Higgs trust and the half stadium debate (1 Viewer)

[TheParsonsHose]

How about the Higgs trust just keep it and give all revenue to CCFC? No outlay for us as a club, revenue for us and any increase in property sits with with Higgs?

SISU then spend money on players. Option or nonsense?

 

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[skyblueinBaku]

An interesting idea, right up to the part where you said 'SISU then spend money on players.' At that point it became nonsense.

 

[WillenhallSkyBlues]

Would you pay for a house and let a homeless person live they're for free?
Same principal

 

[TheParsonsHose]

Yes if I was a charity for the homeless. Higgs could be a charity for CCFC and the stadium revenue could be some sort of trust.

 

[Robccfc87]

Would you pay for a house and let a homeless person live they're for free?
Same principal

What if it was your brother?!

 

[TheParsonsHose]

What if it was your brother?!

He would leave him on the street and leave the house empty no doubt.

 

[WillenhallSkyBlues]

Well its clear that the higgs trust don't class cov as any relation as they're seeing them struggle and being determind to keep hold of they're half the stadium, they're as ravionous as sisu

 

[TheParsonsHose]

They can keep the stadium just pass on the revenue !

 

[WillenhallSkyBlues]

Would you work 40 hours a week to give your whole wages to the homeless bloke that lives under the subway near the train station?

Get real!

 

[kingharvest]

Well its clear that the higgs trust don't class cov as any relation as they're seeing them struggle and being determind to keep hold of they're half the stadium, they're as ravionous as sisu

This Higgs Trust bailed out the club and have an agreement that should CCFC come in with a certain price then they will agree to sell.

They're not blocking anything its just the club have never tried to buy it!!!

 

[Mumford and Daughter]

is there anyway of finding out how much money both the council and higgs make?

 

[OyJimmy]

Personally speaking I'd rather that SISU weren't allowed to get their grubby little hands on the Ricoh.

 

[ashbyjan]

As has been said many times a: Higgs Trust do not own a single brick of the stadium but a half share in ACL which has a lease on the building and runs the events etc within the stadium therefore it would be debatable if the value of this lease would be increasing or decreasing as its length deminishes b: ACL has a £21 million loan from the bank it has to service and all its profits are used in servicing that debt or reinvested in the operation and no dividends have been paid to either HT or the council so there is no money to pass onto the club even if HT wanted to. So however charitable the Higgs Trust may want to be there is no money to give to the club.

 

[PWKH]

Thank you ashbyjan. The Higgs Charity does not receive anything from ACL and will not until the debt to the bank is paid off. The Charity will sell to the Club at any time that they come up with the agreed amount and the Council is happy to have them as partners. That is all there is to it.
As for the Charity giving its money to a private company: even if it wanted to, the law, quite rightly, prohibits it. As people the trustees want the club to succeed just as much as any other poster on this forum but as trustees they cannot give away charitable funds to private investors.

 

[tisza]

somebody needs to tell the club who owns what - as in the 2010 accounts there is reference to the Group's option to buy 50% of the ACL "who own the Ricoh Arena".

 

[oldskyblue58]

somebody needs to tell the club who owns what - as in the 2010 accounts there is reference to the Group's option to buy 50% of the ACL "who own the Ricoh Arena".

ACL owns the long leasehold of the stadium and as such that is classed as ownership so there is no discrepancy in what is in accounts. The council own the freehold

 

[oldskyblue58]

Thanks ashbyjan and PWKH couldnt have put it better myself

 

[sky_blue_up_north]

To be honest I hope SISU don't there hands on any part of the stadium. Their track record for us as been pretty poor, I see them taking money out rather than putting it in

 

[chiefdave]

ACL owns the long leasehold of the stadium and as such that is classed as ownership so there is no discrepancy in what is in accounts. The council own the freehold

out of interest say CCFC were to buy both Higgs and the councils share of ACL and therefore own 100% of the leasehold what would the value of the freehold be? not that i'm expecting that to happen any time soon, just curious.

 

[oldskyblue58]

Sorry i dont know - it would have to be professionally valued and considering what costs have been sunk then i would expect somewhere north of £40m. But I am guessing.

If they had the long leasehold 100% i dont think there is an immediate need to buy the freehold

 

[skyblueinBaku]

As SISU would get no income from their half of the stadium ownership until the ACL loan is repaid, I assume that buying into the stadium is part of their exit strategy.

 

[Wrenstreetcarpark]

But who would sell to them? Council won't. Higgs trust can't if the council stop them.

 

[skybluehugh]

Well its clear that the higgs trust don't class cov as any relation as they're seeing them struggle and being determind to keep hold of they're half the stadium, they're as ravionous as sisu

I think they are doing the right thing while the scum own the club. If they get any portion of the ground we will never get rid of them