Astute
Well-Known Member
As we all know our predicament is all about the ownership of the Ricoh. Should CCC own it as they got it built? Should SISU own it as they have invested their investors money in our club?
To me neither should own it.
CCC haven't put money into the build. They have sorted out the finances though and helped our club when we needed it. But they should keep to what they are in place for. And that isn't running a football stadium.
SISU never put a penny into the build costs. They may run our club but why should they be given it? But our club is also enough in debt already. If the arena had to be paid for it should be for our club, but our club can't afford it. And IMHO how could we trust them to own it whilst our club would benefit from ownership?
My idea would be to hand ownership over to Higgs. The arena seems to be making a profit. If our club was in place it would certainly bump up the income and profits. Our club would be able to play at the Ricoh rent free. A certain amount of the profits could be taken for loan interest and also capital repayment. Once the loan is paid off Higgs could start to get their money back. This would be much cheaper than SISU would get/charge our club for financing buying the freehold. The rest of the money could go to our club. And once everything is paid off all profits could go to our club.
So what could go wrong?
SISU not happy as they don't get the freehold? They have said they need the money for our club. It would be the cheapest way of it happening. They would get earnings and free rent for no outlay. We would find out how much it is the truth on them just wanting the income for our club.
Higgs not wanting to do so? They have already supplied our club with training facilities and given our academy a home. They exist to help the people of Coventry and surrounding areas. They would eventually get their money back. And they would then become an even bigger part of the community.
CCC not able to gift the freehold? A long term leasehold of say 125 years to Higgs for a token payment should be able to get around this.
To me this would be the best way to go. Our club would have a secure future. CCC wouldn't have the running problems they presently have. SISU would have rent free and F+B. Or we would find out which side is after more than they say they are.
To me neither should own it.
CCC haven't put money into the build. They have sorted out the finances though and helped our club when we needed it. But they should keep to what they are in place for. And that isn't running a football stadium.
SISU never put a penny into the build costs. They may run our club but why should they be given it? But our club is also enough in debt already. If the arena had to be paid for it should be for our club, but our club can't afford it. And IMHO how could we trust them to own it whilst our club would benefit from ownership?
My idea would be to hand ownership over to Higgs. The arena seems to be making a profit. If our club was in place it would certainly bump up the income and profits. Our club would be able to play at the Ricoh rent free. A certain amount of the profits could be taken for loan interest and also capital repayment. Once the loan is paid off Higgs could start to get their money back. This would be much cheaper than SISU would get/charge our club for financing buying the freehold. The rest of the money could go to our club. And once everything is paid off all profits could go to our club.
So what could go wrong?
SISU not happy as they don't get the freehold? They have said they need the money for our club. It would be the cheapest way of it happening. They would get earnings and free rent for no outlay. We would find out how much it is the truth on them just wanting the income for our club.
Higgs not wanting to do so? They have already supplied our club with training facilities and given our academy a home. They exist to help the people of Coventry and surrounding areas. They would eventually get their money back. And they would then become an even bigger part of the community.
CCC not able to gift the freehold? A long term leasehold of say 125 years to Higgs for a token payment should be able to get around this.
To me this would be the best way to go. Our club would have a secure future. CCC wouldn't have the running problems they presently have. SISU would have rent free and F+B. Or we would find out which side is after more than they say they are.