You don't cancel audits because you are doing well. That's nonsense. Audits are done regardless of circumstances.
You don't cancel audits because you are doing well. That's nonsense. Audits are done regardless of circumstances.
Surely Otium will pay the administrator/Ltd for purchasing the assets, and the administrator will pay ACL?
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I think this thread is about to blow up in the OP's face.
You don't cancel audits because you are doing well. That's nonsense. Audits are done regardless of circumstances.
I hope you're not suggesting he made it all up...
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But weren't we granted the Golden Share by the authorities on the basis that ACL would get their money - and is there a danger therefore that they'll take it away from us if it isn't paid? Or are they just being toothless again?Trust Meeting
At the Sky Blue Trust open meeting tonight at The Squirrel in Coventry, it was revealed that Arena Coventry Limited had still not received the £590K they are owed by the Otium Entertainment Group as part of the monies owed following Otium taking over Coventry City Football Club Ltd.
The Trust were told by ACL in meetings with them and Coventry City Council: "We can not sell the stadium, can only discuss rent. The administration process was flawed so the CVA rejected. "We are due to received £590k from Otium but nothing has been received yet."
Arena Coventry Limited also admitted to the Trust: "We have to concentrate on the business. Casino is one of G's best sites. We don't need CCFC but want them. Arena Coventry Limited were due for an audit but it was cancelled due to the Ricoh Arena doing so well.
"An audit" is a broad term though isn't it
But weren't we granted the Golden Share by the authorities on the basis that ACL would get their money - and is there a danger therefore that they'll take it away from us if it isn't paid? Or are they just being toothless again?
Please read OSB58s post.....it explains that Otium can't pay ACL until the liquidator confirms how much is outstanding.
So before anyone starts bleating that SISU haven't paid ACL.....its because its not yet been finalised, or indeed, due.
No I just think its a bullshit statement that some idiots will take at face value without delving deeper into the facts.
Sorry I did skim read it however I'm not suggesting that they won't pay, merely that there must have been a time limit imposed when we were handed the Golden Share back?. If there isn't then SISU/Otium could just keep saying we'll pay tomorrow and never actually do it whilst the intent to pay is still there.
I really can not see how a deal can be reached on how my simple mind see's it. I feel a new stadium will be built and ready in 5 years for us and some other sports team playing out of the Ricoh. Have the rugby club ruled out a move to the Ricoh ? as I know they are very ambitious to move up the leagues and return to past glorys of the tem that had players like Davd Duckham and all the rest.
I will make my prediction and say a new rugby league franchise will be launched based at the Ricoh, as their isn't a rugby league team that represents this region so someone may come along and give it a go, though the counter argument is there is no demand for the league version of rugby here at all, I think London broncos are the closest, but as I say someone may take a punt and suck it and see for a few seasons.
I hope I am proved wrong and a deal is signed and sealed before Santa comes down my boiler flue
I really can not see how a deal can be reached on how my simple mind see's it. I feel a new stadium will be built and ready in 5 years for us and some other sports team playing out of the Ricoh. Have the rugby club ruled out a move to the Ricoh ? as I know they are very ambitious to move up the leagues and return to past glorys of the team that had players like Davd Duckham and all the rest. I am pretty sure Coventry was one of the big teams back then but as I don't follow rugby I am not sure and there is quite a lot of money floating about the game nowadays what with the Heinekin league and the premiership
I will make my prediction and say a new rugby league franchise will be launched based at the Ricoh, as their isn't a rugby league team that represents this region so someone may come along and give it a go, though the counter argument is there is no demand for the league version of rugby here at all, I think London broncos are the closest, but as I say someone may take a punt and suck it and see for a few seasons.
I hope I am proved wrong and a deal is signed and sealed before Santa comes down my boiler flue
Okay I see that, so basically as I understand it we're safe until the liquidator finishes and then we have to hope that Sisu/Otium pay up. Sadly going by past performance this could be the tricky part.But again as OSB said, that can't be done until liquidation process is finalised, and it is the liquidator not the Otium that facilitates that.
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I really can not see how a deal can be reached on how my simple mind see's it. I feel a new stadium will be built and ready in 5 years for us and some other sports team playing out of the Ricoh. Have the rugby club ruled out a move to the Ricoh ? as I know they are very ambitious to move up the leagues and return to past glorys of the team that had players like Davd Duckham and all the rest. I am pretty sure Coventry were one of the big teams back then but as I don't follow rugby I am not sure and there is quite a lot of money floating about the game nowadays what with the Heinekin league and the premiership
I will make my prediction and say a new rugby league/union franchise will be launched based at the Ricoh, as their isn't a rugby league team that represents this region so someone may come along and give it a go, though the counter argument is there is no demand for the league version of rugby here at all, I think London broncos are the closest, but as I say someone may take a punt and suck it and see for a few seasons.
I hope I am proved wrong and a deal is signed and sealed before Santa comes down my boiler flue
Surely ACL won't get the money owed until liquidation of CCFC Ltd is complete. If they wanted it sooner they should have accepted the CVA.
That'd be like CCFC moving to a 50k stadium based on being ambitious. Despite not filling their current one.
Err what does this mean and where did I say it would be like CCFC building a 50k capacity stadium. All I said that if a rugby team/franchise may see the Ricoh as an option to grow or expand sometime in the future.
My god man let it go FFS
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