very valid point, Stokes cost £30m.
The Ricoh has a big chunk of casino etc on the side, we don't need that basically we just need the grass and the stands.
We have never "rented" the other parts. I am not sure exactly what the rental agreement includes. But relationships between SISU & CCC soured over their tenure particularly during the Olympics when there was talk of CCFC being locked out of offices and in return CCFC putting photocopiers etc away in locked cupboards.
I think CCFC actually decamped the offices into Ryton and I don't know if they ever returned.
In either case the concept that we lease the Ricoh and it is the home of CCFC, is a bit hollow, no wonder we are worse at home than away!
Basically we rent space of the grass and the stands on a daily basis so many times a season!
imp:
If i recall correctly a large part of the cost of the Richo was the decontamination of the land around the gas works
I have certain info and have had for a while but am reluctant to put it out on here because you look a twat if it doesn't happen. All i will say this has been bubbling for weeks, i will be surprised if this goes as far as administration but the threat is there shall i say as a lever, but the silence from the sisu camp is a concerndo you have insider information rupert bear?
With respsct, I disagree with that. ACL's turnover sits circa. £8m. The best option, in my view, is an entity that can buy either partially, or totally that business and run it alongside the football club. The much higher turnover means that FFP doesn't really apply. And a true 365-day venue with a number of income steams is more likely to interest a wider group of investors than purely 'a football club'
Perhaps these numbers will help people understand the Ricoh value/costs etc.
http://www.google.hu/url?sa=t&rct=j...iEgKG9YQ1qOn1eNOZ2Yprgw&bvm=bv.43828540,d.bGE
Perhaps these numbers will help people understand the Ricoh value/costs etc.
http://www.google.hu/url?sa=t&rct=j...iEgKG9YQ1qOn1eNOZ2Yprgw&bvm=bv.43828540,d.bGE
Is it correct from the figures that the actual outlay by the council was only £10million?
Talk about capitalistic vultures picking over a corpse to gain huge gains from a distressed entity.
Are Sisu and the council related?
Is it correct from the figures that the actual outlay by the council was only £10million?
Talk about capitalistic vultures picking over a corpse to gain huge gains from a distressed entity.
Are Sisu and the council related?
That's how I've always seen it but I've always assumed I've missed something as people bang on about tax payers money etc when it looks to me like the council put in £10m then had ACL give them £21m for the lease, a pretty good return on investment!
There has to be something we're missing because if you look at it like that I don't see how anyone can think, with the council having put in £10m and ACL having paid £21m for a nearly 50 year lease that £1.2m a year in rent is in any way or was at anytime a good deal. Over the term of ACLs lease that would be £57.6m just from CCFC against ACLs investment of £21m!
Didn't it cost £113 million to build?
Do you seriously think it would be worth only £15million?
Perhaps these numbers will help people understand the Ricoh value/costs etc.
http://www.google.hu/url?sa=t&rct=j...iEgKG9YQ1qOn1eNOZ2Yprgw&bvm=bv.43828540,d.bGE
That's how I've always seen it but I've always assumed I've missed something as people bang on about tax payers money etc when it looks to me like the council put in £10m then had ACL give them £21m for the lease, a pretty good return on investment!
There has to be something we're missing because if you look at it like that I don't see how anyone can think, with the council having put in £10m and ACL having paid £21m for a nearly 50 year lease that £1.2m a year in rent is in any way or was at anytime a good deal. Over the term of ACLs lease that would be £57.6m just from CCFC against ACLs investment of £21m!
Is it correct from the figures that the actual outlay by the council was only £10million?
Talk about capitalistic vultures picking over a corpse to gain huge gains from a distressed entity.
Are Sisu and the council related?
correct -10m council
21m loan acl
20m decontamination ccfc (+sourcing of the 60m tesco investment)
and from that we have a council owned site with a lease to acl, and ccfc as tennants being ripped off
THE first phase in the construction of Coventry's new pounds 60 million, multi-purpose arena is finished.
Environmental specialists have been working to decontaminate pockets of land on the former Foleshill Gasworks site since February in preparation for building to start.
Contractor Edmund Nuttall Ltd has been carrying out the work under the guidance of environmental consultants QDS.
Working with the Environment Agency, the specialists have dug out material from up to four metres down. The matter removed is the normal by-product and residual waste from the gasworks, which opened in the 1820s.
The clean-up operation was funded by supermarket giant Tesco as part of the deal to build a massive store next to the arena site.
Construction proper of the Coventry Arena will now start as soon as a main contractor is appointed in about eight weeks time. The original builder Birse pulled out.
Paul Fletcher, chief executive of Arena Coventry, the joint venture company set up by Coventry City Council and Coventry City FC to deliver the project, said: "The completion of the first phase of work on site is a clear sign that the Coventry Arena is about to become a reality.
Alex Ferguson, project manager for Lincoln-based QDS, said: "We have completed our job within six months.
"That is a very short timescale for a job of this size but we have done it and are now preparing to start similar work on the site which will be used by Tesco."
The Coventry Arena will include a 1,000-seater banqueting suite, 6,000 sq metre exhibition hall, 70-room over- night accommodation, extensive community facilities, a health and fitness club and 90,000 sq ft family entertainment centre and offices.
A 32,000-seater stadium will also be included in the project, which will be the new home for Coventry City FC.
dean.valler@mrn.co.uk
SISU have put £45M in don't forget.
Regardless of your thoughts on SISU there is no doubt they have kept the club going.
Hopefully they will accept the loss, we can say thank you and they can move on.
According to this Tesco funded the site decontamination contract.
http://www.thefreelibrary.com/Site+...NTAMINATION+WORK+COMPLETE,+NOW...-a0100547390
Yep, looking at the books Tesco paid £42m for the land, and £17m 'contribution in kind'. That £17m seems to meet what's listed elsewhere as the cost of decontamination and infrastructure. So Tesco stuck in £59m overall, to the total budget of around £116m.
I wonder what the net worth of Bryan Richardson is?
Always seem to remember a figure of £20 million being banded about as being paid by the club for the decontamination.
If not the case, then the age old question relating to Richardson's reign becomes even more pertinent.
"What happened to the fucking money??"
well it was boosted by Tesco whatever it is!
Incidently how come the Ricoh cost 3 times as much as the King Power stadium to build???
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