Which would you prefer ? (1 Viewer)

[Sky Blue Kid]

The council has yet to receive any dividend from its 50 per cent share. Any profits would first be used to pay back a £21million ACL loan to Yorkshire Bank. The loan was originally taken out by the council to rescue the Ricoh project in 2003 and ensure the stadium was built on the contaminated former Foleshill gasworks site.
Development of the “leisure land” – including more hotels to support the stadium’s hotel and conferences, and events including concerts – is seen as crucial in raising Ricoh revenue. The council also wants the development to create jobs in return for taxpayer investment in the disadvantaged north-east of Coventry.
The 2003 deal gave the council and football club 50 per cent each of ACL shares. But the Sky Blues sold its half-stake to the Higgs charity in 2007 for a reported £6million, to stave off a threat of administration.
A complicated formula giving the football club an option to buy back the shares has long been rumoured to price Higg’s charity’s 50 per cent at £10million.
The Higgs charity’s Peter Knatchbull-Hugessen told the Telegraph in June Sisu’s initial rejected offer had been outside the formula.
News of the headline agreement comes days after Daniel Gidney resigned as ACL chief executive, and was understood to be increasingly disillusioned over the prospect of a deal with Sisu over stadium ownership.
Coun Mutton said the council still had a “not for sale” policy on its 50 per cent share.
But he added, if “a fantastic offer came in” for the council’s shares, the full council could vote on a change of policy.
Tim Fisher, Sky Blues chief executive, said: “We have made an undertaking not to discuss this matter publically. It is a highly-sensitive commercial negotiation which all sides have undertaken to conclude before speaking to other parties. On the issue of financial debt and creditor profile of the football club, I am more than happy to go through the appropriate details with Coun Mutton in person and in private.”​

Read More http://www.coventrytelegraph.net/co...na-stadium-deal-92746-31880394/#ixzz2H1CyFdPd​

The only mention of £6m is when CCFC SOLD their shares to ACL.

 

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[coundonskyblue]

<p>

We don't know what would've happened though, to say with such confidence it &quot;would've been better&quot; is wrong, we don't know if we would've done a Pompey, Luton, Plymouth etc.</p>
<p>&nbsp;</p>
<p>We have got relegated, brought a whole new team, got a new manager, and we're on the up.

It would have been better in the sense that relegation was coming anyway. Had it happened then we would be 5 years nearer to sorting this mess out.

 

[Mucca Mad Boys]

<p>

It would have been better in the sense that relegation was coming anyway. Had it happened then we would be 5 years nearer to sorting this mess out.

We could've done a Plymouth, Luton, Bradford, or Pompey (take your pick!) had we got relegated that season, there is a possibility that, we wouldn't have been able to rebuild ourselves like we have done this season, signing about 12 players permanently, 16-17 with loanees.

 

[Godiva]

The council has yet to receive any dividend from its 50 per cent share. Any profits would first be used to pay back a £21million ACL loan to Yorkshire Bank. The loan was originally taken out by the council to rescue the Ricoh project in 2003 and ensure the stadium was built on the contaminated former Foleshill gasworks site.
Development of the “leisure land” – including more hotels to support the stadium’s hotel and conferences, and events including concerts – is seen as crucial in raising Ricoh revenue. The council also wants the development to create jobs in return for taxpayer investment in the disadvantaged north-east of Coventry.
The 2003 deal gave the council and football club 50 per cent each of ACL shares. But the Sky Blues sold its half-stake to the Higgs charity in 2007 for a reported £6million, to stave off a threat of administration.
A complicated formula giving the football club an option to buy back the shares has long been rumoured to price Higg’s charity’s 50 per cent at £10million.
The Higgs charity’s Peter Knatchbull-Hugessen told the Telegraph in June Sisu’s initial rejected offer had been outside the formula.
News of the headline agreement comes days after Daniel Gidney resigned as ACL chief executive, and was understood to be increasingly disillusioned over the prospect of a deal with Sisu over stadium ownership.
Coun Mutton said the council still had a “not for sale” policy on its 50 per cent share.
But he added, if “a fantastic offer came in” for the council’s shares, the full council could vote on a change of policy.
Tim Fisher, Sky Blues chief executive, said: “We have made an undertaking not to discuss this matter publically. It is a highly-sensitive commercial negotiation which all sides have undertaken to conclude before speaking to other parties. On the issue of financial debt and creditor profile of the football club, I am more than happy to go through the appropriate details with Coun Mutton in person and in private.”


Read More http://www.coventrytelegraph.net/co...na-stadium-deal-92746-31880394/#ixzz2H1CyFdPd​

The only mention of £6m is when CCFC SOLD their shares to ACL.

You have still not come up with any proof that sisu have ever said they had £10m to buy the Higgs shares.
In fact - the article says that sisu's offer were outside the formular (a formular that the journalist suggest leads to a £10m price tag).

 

[Sky Blue Kid]

@ Godiva..

I'm waiting for CET sports desk to get back to me on Monday. SISU DEFINATELY said they had the £10m to buy the half share from ACL. albeit about 1 year ago(Around the time they stopped paying the rent) If Jan is reading these forums perhaps he may be able to back up what I'm saying.

 

[torchomatic]

Number 2. I can't see how any fan would go for the first option.

Administration and 10 point reduction to get rid of SISU or:

Get to Play-Offs and Promotion but with SISU at the helm for the foreseeable future ?

Choice of two only, no alternatives.

 

[torchomatic]

Bye bye SISU? Who would take over then?

Bye bye sisu !!!!
Then back to back promotions !!!!

 

[torchomatic]

Values?! Now that's a laugh. I'll say the same to you as others. How many threads did you start moaning that the club weren't paying the rest of the fee to Southampton for Leon Best?

I like the way you put the word "more" in capitals too. Nice touch. How do you know how much he spends. I can dream of quite a lot of money, so do you spend MORE than I can dream of too?

craigus12..

Some of us have "Values", and who the fuck are you to tell me I'm not a CCFC fan! I probably pay MORE in following CCFC than you could even dream about paying out:jerkit:

 

[valiant15]

Who knows. If you put your house on the market would you be able to name the buyer?

 

[torchomatic]

Which is why the rent needs to come down.

It takes investment&ambition to get to the prem. Sisu have neither.

 

[torchomatic]

Why are people so obsessed with the home ownership analogy!? If you put your house on the market then people would know what they were buying, a house. If CCFC were on the market then what would any potential investors be getting? The name "Coventry City Football Club" and not a lot else.

Who knows. If you put your house on the market would you be able to name the buyer?

 

[valiant15]

So they would know what they were getting then. You still cant use the 'who would buy us' quote. It's impossible to name a prospective buyer.

 

[torchomatic]

True. But my point is that why on earth are we going to be attractive to new owners if we don't own our own stadium? We have our name and a handful of player registrations and the good will of the fans. Investors want more than that, I would assume.

So they would know what they were getting then. You still cant use the 'who would buy us' quote. It's impossible to name a prospective buyer.

 

[Sky Blue Kid]

Values?! Now that's a laugh. I'll say the same to you as others. How many threads did you start moaning that the club weren't paying the rest of the fee to Southampton for Leon Best?

I like the way you put the word "more" in capitals too. Nice touch. How do you know how much he spends. I can dream of quite a lot of money, so do you spend MORE than I can dream of too?

Originally Posted by Sky Blue Kid
craigus12..

Some of us have "Values", and who the fuck are you to tell me I'm not a CCFC fan! I probably pay MORE in following CCFC than you could even dream about paying out

why don't you read all of the post you prick???
Yes I have values, not like some who would sooner see a Childrens Charity being tucked up! and if the cap fits fucking wear it pal!!! craigus12 nor YOU have the right to tell me I'm not a CCFC supporter. Read and digest....ANY game for me is a away game. Therefore I spend in excess of £100 on fuel to a lot of away games. Thats before buying a ticket, food, drink. I don't live on the City's doorstep like you do....Hence the "MORE" in my post to craigus12. Pray tell how many threads I've started on Leon Best?
You are the most arrogant arsehole I've ever had the displeasure to come across...The silent majority don't rule where you're concerned, do they torchy eh?:jerkit:



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[lordsummerisle]

Therefore I spend in excess of £100 on fuel to a lot of away games.
​

I'd get rid of the Monster Truck and trade down for something a bit more fuel efficient like a Fiat Bravo or something if i were you.

 

[Skyblueweeman]

Grieves me to say but getting SISU out of our club has to be the priority, apart from their first few months here when they allowed Coleman to sign a few they have put nothing into the team, just sold and sold, the evidence is clear to see. Despite Fisher's "we have changed" statement they still haven't put anything into the team or likely too. No matter what you think re. the rent being too high SISU are jeopadising our existence by refusing to pay any rent and remember they ain't paying a bean at the moment despite having been offered a 67% reduction and time (10 years) to pay any arrears. If i thought promotion would alter SISUs policies nobody would be happier than me at the moment though all i see is their continued presence at my club a serious threat to our future as a football club.

As much as it hurts me to say if it means staying in this awful division one more season but seeing the back of these charletons that would be a price worth paying. As for the question who comes in ? my answer to that is who could do worse.

1. 'They have put nothing into the team'...Apart from spending money on some players? (can't name them all but Westwood, Eastwood, Clingan, Jutkiewicz). Also, is paying players wages not putting something into the team??
2. 'SISU are jeopadising our existence by refusing to pay any rent'...I agree with others about the fact that due dilligence wasn't carried out enough before they took over, but isn't paying more than we should (whether it was agreed by someone else or SISU), jeopardising our future even more???
3. 'they ain't paying a bean at the moment'...apart from the matchday costs that they still pay every game? What was it....£10k per game? £220k pa then? Not a bean I guess...
4. 'offered a 67% reduction'...that's also been mentioned to be incorrect. With the matchday costs and extra business rates, the figure was close to £800k, therefore more of a 33% reduction and still way over what we maybe should be paying.
5. 'all i see is their continued presence at my club a serious threat to our future as a football club'...unfortunately for you, me and all others, theres no alternatives at the moment.

They've not been great for CCFC but the appointment of Robins and getting Moussa, Clarke and Bailey in the past few days has been steps in the right direction. They did appoint Robins which I think crucially, has probably been the best transaction they've made whilst they've been here.

Not a pro-SISU post but I like things to be factual.

Respectfully,

WM

 

[No1SkyBlueFan]

Play offs, having said that it would be good if Sisu packed their bags.