The council are making a profit from this deal with money that would never have been used for the community, so are completely entitled to do so. This is yet another transparent attempt to stall the administration so SISU can bleed the club from any season ticket sales they can get before they go.
"and", must proof read before posting in future!Your wrong Japandy. If Sisu ever got their grubby little fingers on the Ricoh do you think that the citizens of Coventry would benefit? NO they would not. This way at least they will abd the stadium is protected from the greed of a hedge fund.
The council have to be transparent with money they spend.
Sisu however do not
Sold players no fee ever declared
Brought players never declared
They benefit by the payments made by ACL to the Council.
Undisclosed fees are pretty much standard practice in all transfers these days, nearly all clubs do this.
The council are making a profit from this deal with money that would never have been used for the community, so are completely entitled to do so. This is yet another transparent attempt to stall the administration so SISU can bleed the club from any season ticket sales they can get before they go.
Undisclosed fees are pretty much standard practice in all transfers these days, nearly all clubs do this.
How can the administration be contested?
SISU put us in admin!!!!
And how do the the citizens of Coventry benefit now?
No they dont
If SISU want to contest the administration, that was forced on them due to the writ served by ACL, they are perfectly in their rights to do so. But if they have be able to lose 60million of bad loses due to this administration they may not contest OUR administration, which would be wise.
If the High Court find the Council have unfairly loaned public moneys to allow a company, ACL, to serve a writ on another company then SISU can sue the Council. What is even worse is that councillors are on the board of ACL thus showing they are acting in 'self-interest' and NOT in the interest of the public, who they represent.
Well, the £14m bailout comes coincidentally at the same time as CCC announce adult social housing cuts, the allowance of Coventry schools to become sponsored academies, cuts on the redevelopment of the most deprived areas in Coventry and adult support services for the vulnerable go to tendering for cheaper alternatives.
Still... The Ricoh is an asset which must be protected.
Well, the £14m bailout comes coincidentally at the same time as CCC announce adult social housing cuts, the allowance of Coventry schools to become sponsored academies, cuts on the redevelopment of the most deprived areas in Coventry and adult support services for the vulnerable go to tendering for cheaper alternatives.
Still... The Ricoh is an asset which must be protected.
Japandy... So ACL had no right to go after the money legally owed by the football club?
None of this is relevant because the council intend to borrow the £14 million they used to pay off the mortgage, the repayments for which will be met by ACL (plus the council will make a small profit because of preferential interest rates).
So SISU have messed ACL about concerning non-payment of rent. Whether people like SISU or not they are perfectly entitled to challenge the 'legality' of the CCC bailing out a company,that without this 'assistance' would have gone into administration themselves soleely to take another company into administration. This ia an unlawful act and abuse of public funds.
If people are so unsure about this then why couldn't ACL borrow this money from the bank, where most of us would do?
There are a number of Councillors who seem to think they have the 'right' to use public money just because they don't like someone's face. The Council have acted, not in the public's interest but in the interest of their own wellbeing.
Schools and hospitals are cutting back all the time so how can the Council say that this 'loan' is in the best interest of the public. This 14 million loan is being used to wind up a club who contibute so much to the City's past, present and future.
I look at this from a 'legal' perspective and it is imperative that SISU do this because the Council should not use public funds. My view has nothing to do with the football side of things.
I am sure the management of SISU want shut of us as quickly as we do of them. BUT this whole scenerio should be done in a way that will enable the club to prosper, and not done that make the name CCFC a laughing stock in the world of sports.
So SISU have messed ACL about concerning non-payment of rent. Whether people like SISU or not they are perfectly entitled to challenge the 'legality' of the CCC bailing out a company,that without this 'assistance' would have gone into administration themselves soleely to take another company into administration. This ia an unlawful act and abuse of public funds.
If people are so unsure about this then why couldn't ACL borrow this money from the bank, where most of us would do?
There are a number of Councillors who seem to think they have the 'right' to use public money just because they don't like someone's face. The Council have acted, not in the public's interest but in the interest of their own wellbeing.
Schools and hospitals are cutting back all the time so how can the Council say that this 'loan' is in the best interest of the public. This 14 million loan is being used to wind up a club who contibute so much to the City's past, present and future.
I look at this from a 'legal' perspective and it is imperative that SISU do this because the Council should not use public funds. My view has nothing to do with the football side of things.
I am sure the management of SISU want shut of us as quickly as we do of them. BUT this whole scenerio should be done in a way that will enable the club to prosper, and not done that make the name CCFC a laughing stock in the world of sports.
And how do the the citizens of Coventry benefit now?
Got a lot of time for you Japandy...legendary poster on GMK...but I have to say I don't agree with you at all here. Although not squeaky clean, ACL are not the real villains here. Columbo would've solved this case in the first 2 minutes...it was SISU wot done it!
If SISU want to contest the administration, that was forced on them due to the writ served by ACL, they are perfectly in their rights to do so. But if they have be able to lose 60million of bad loses due to this administration they may not contest OUR administration, which would be wise.
If the High Court find the Council have unfairly loaned public moneys to allow a company, ACL, to serve a writ on another company then SISU can sue the Council. What is even worse is that councillors are on the board of ACL thus showing they are acting in 'self-interest' and NOT in the interest of the public, who they represent.
Sorry Japandy, but this is nonsense on several levels. First of all the council were not "bailing out" a company (we'll ignore the fact that they owned half of that company), they provided a loan which enabled them to restructure a debt by paying at a lower interest rate that the one they were paying to the bank. Note that. They had a loan from a bank already. Where is the evidence that ACL were about to go into administration, other than some spin by our Tim? There is none. The purpose of transferring the loan was, if anything, to allow ACL to offer a better deal to the club. So in whose interest was that? Maybe you can tell me what "personal well being" councillors get out of the loan? To claim that the purpose of the loan was to put the club into admin is pure fantasy. As i said, its purpose was to allow ACL to restructure its debt. You seem to forget that it was SISU who put the club into admin. You also forget that the Ricoh is a public asset, owned by the council on behalf of its council tax payers. Protecting its asset is a very sensible use of public funds.
I suggest you learn a little about local government before you make more pronoun cements.
Please name which Councillors are on the board of ACL?
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