Why dont the sky blues trust take on the Ricoh tenacy and sublet it to Coventry City (1 Viewer)

[señor Santiago]

Would it not be a good idea for the skyblue trust to take on the Ricoh Tenancy and sublet it to Coventry city for the same rent as Sixfields.The difference could be raised by donations and sponsorships. 1000S of fans would pay to bring the sky blues back to Coventry. Obviously ,It would be short deal until Coventry City build their new Stadium.

 

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[Nick]

We just need an American business man with a crowd funding site to help us

 

[Kingokings204]

Not a bad idea its just SISU want the freehold and to rob us Coventry people of profit and taxpayers money.

 

[señor Santiago]

2000 fans pay £1 a week = £100000. sponsorships from businesses, free page from cov telegraph promoting business helping bring cov back to cov. The telegraph makes enough out the city fans time to give something back

 

[Nick]

Not a bad idea its just SISU want the freehold and to rob us Coventry people of profit and taxpayers money.

What are they robbing tax payers of?

 

[Kingokings204]

What are they robbing tax payers of?

Just my opinion but if they got the ricoh freehold on the cheap which they claim they need and are demanding( despite telling us the have moved on which still makes me laugh) then the real estate is worth shit loads and surrounding areas and all this would be Otiums money and they would cash in where as myself as a Coventry taxpayer I would want the council to sell it off and build houses and the money put back into the city. That's just how I see it.

 

[Nick]

Just my opinion but if they got the ricoh freehold on the cheap which they claim they need and are demanding( despite telling us the have moved on which still makes me laugh) then the real estate is worth shit loads and surrounding areas and all this would be Otiums money and they would cash in where as myself as a Coventry taxpayer I would want the council to sell it off and build houses and the money put back into the city. That's just how I see it.

What if it was wOrth a lot less than people go on about?

What about the money a football club brings to the city?

 

[Kingokings204]

What if it was wOrth a lot less than people go on about?

Truth is I don't know what the Ricoh freehold is worth or even the leasehold (ACL) for that matter and it seems no one does including SIsu and CCC/ACL sadly Nick. That's part of the problem. If Otium paid a fair valuation and then done what they want etc I don't think anyone would have a problem and the taxpayers get their money back up front but some of us think they want the ricoh freehold for peanuts and then cash in obviously to cov taxpayers expense.

Im like you Nick I want the best for the club always but I don't want to be ripped as a citizen on Coventry either and succumb to a greedy hedgefund who batters people in court, their words not mine.

 

[Matty_CCFC]

Also I would imagine most of you are Coventry rate payers.

 

[Warwickhunt]

Why don't ACL agree a Rental agreement with another football club and finally put a nail in the SISU/Otium coffin that would put an end to all of this shite its a prime stadium! I suggest that Birmingham City sell their ground for Housing and sign up to the RICOH and we can all get on with our lives.

 

[Nick]

Why don't ACL agree a Rental agreement with another football club and finally put a nail in the SISU/Otium coffin that would put an end to all of this shite its a prime stadium! I suggest that Birmingham City sell their ground for Housing and sign up to the RICOH and we can all get on with our lives.

I thought it was going to be Nuneaton when they got promoted so we could support them and laugh at sisu?

 

[Astute]

What if it was wOrth a lot less than people go on about?

What about the money a football club brings to the city?

Bloody hell Nick you seem to be doing a good job on behalf of SISU on talking down the value of the arena.

 

[RegTheDonk]

2000 fans pay £1 a week = £100000. sponsorships from businesses, free page from cov telegraph promoting business helping bring cov back to cov. The telegraph makes enough out the city fans time to give something back

Never looked at this before. Paid my initial £1 and that was it.

Perhaps the Trust should canvas the members into having a weekly sub? £1 a week don't seem too much. Weather its used for your suggestion Santiago, or other methods to try and bring the club home, would be up to the officials and the membership to decide.

 

[skybluesam66]

the only thing at the moment being lost to the taxpayers of coventry is around £5m of spend being spent in coventry not only at the ricoh but also local retail outlets/pubs/transport

 

[Nick]

Bloody hell Nick you seem to be doing a good job on behalf of SISU on talking down the value of the arena.

No just being realistic, most people seem to think a fair price is what higgs or ccc paid and not a penny less.

 

[lapsed_skyblue]

Whoever seeks a rental agreement with SISU /Otium/CCFC needs to secure the services of a really, really, really good legal adviser.

 

[Astute]

No just being realistic, most people seem to think a fair price is what higgs or ccc paid and not a penny less.

Even though Higgs had offered their share for 1m less than they paid? Stretching it a bit far there mate.

 

[Grendel]

Even though Higgs had offered their share for 1m less than they paid? Stretching it a bit far there mate.

What was the councils view of that offer? Remind me in all this excitement I've forgotten.

 

[Nick]

Even though Higgs had offered their share for 1m less than they paid? Stretching it a bit far there mate.

Don't you think a proper valuation should be done to see at least market value and to go from there? If the price has doubled then it's doubled so sisu pay more. If it's less they can try and pay less.

Nobody can be forced to sell anything, but at least it makes it clear if it's valued low but acl want silly money or valued high and sisu offer pennies.

That 1 million less than they paid was still reported as way over value wasnt it?

 

[sky blue john]

Back to the OP.
Its a good idea the only problem is Sisu don't like this fans organisation and won't work with them !!
Where have I heard this before Sisu not being able to work with someone ??

 

[Astute]

Don't you think a proper valuation should be done to see at least market value and to go from there? If the price has doubled then it's doubled so sisu pay more. If it's less they can try and pay less.

Nobody can be forced to sell anything, but at least it makes it clear if it's valued low but acl want silly money or valued high and sisu offer pennies.

That 1 million less than they paid was still reported as way over value wasnt it?

Have you forgotten what the judge said already?

The value was down to what could happen in the future. You are talking about the valuation given if everything went wrong. The judge pulled Deering up when she tried to say that this was the valuation. Are you saying that the judge was wrong?

Of course we need a valuation to be done. But it still don't change the fact that seems to have come out that if a council sells a freehold it must be sold on the open market and not just offered to one entity. So how does this help our situation?

 

[Warwickhunt]

I thought it was going to be Nuneaton when they got promoted so we could support them and laugh at sisu?

Unfortunately Nuneaton could not afford the £125k per year plus Match Day expenses! Else I would agree with you on that one.

 

[Nick]

Unfortunately Nuneaton could not afford the £125k per year plus Match Day expenses! Else I would agree with you on that one.

Oh, is haskell not buying them then?

 

[lordsummerisle]

Have you forgotten what the judge said already?

The value was down to what could happen in the future. You are talking about the valuation given if everything went wrong. The judge pulled Deering up when she tried to say that this was the valuation. Are you saying that the judge was wrong?

Of course we need a valuation to be done. But it still don't change the fact that seems to have come out that if a council sells a freehold it must be sold on the open market and not just offered to one entity. So how does this help our situation?

It was CCC who considered the bid by Sisu for the Higgs shares to be well over market value, this was before any problems with rent etc.

“I think the reality of the situation is that the price Higgs have negotiated [with SISU] is very significantly above the market value

and that even after the restructure I am proposing, the Charity would struggle to get much above this unless a substantial rent deal was

agreed with the Football Club.

 

[Nick]

Have you forgotten what the judge said already?

The value was down to what could happen in the future. You are talking about the valuation given if everything went wrong. The judge pulled Deering up when she tried to say that this was the valuation. Are you saying that the judge was wrong?

Of course we need a valuation to be done. But it still don't change the fact that seems to have come out that if a council sells a freehold it must be sold on the open market and not just offered to one entity. So how does this help our situation?

I'm going by the council saying it was well over value?

 

[James Smith]

I'm going by the council saying it was well over value?

Thing is the Higgs don't have to sell and can ask what they like for the share. The council if they felt that the Higgs were over valuing their half of ACL could have sold the (identical) council half to Sisu instead. They can't force the Higgs to sell their share and neither can Sisu.

 

[SkyBlueScottie]

Not a bad idea its just SISU want the freehold and to rob us Coventry people of profit and taxpayers money.

Just my opinion but if they got the ricoh freehold on the cheap which they claim they need and are demanding( despite telling us the have moved on which still makes me laugh) then the real estate is worth shit loads and surrounding areas and all this would be Otiums money and they would cash in where as myself as a Coventry taxpayer I would want the council to sell it off and build houses and the money put back into the city. That's just how I see it.

Wow, a wonderfully uninformed argument.

 

[tisza]

I'm going by the council saying it was well over value?

didn't one of the Higgs people testify that there was a falling out with the Council as the council thought higgs were undervaluing their share after the loan was arranged?

 

[lamtara2006]

Why on earth would the Sky Blue Trust (or anybody else for that matter) want to enter into a rental agreement with Sisu / Otium?
A tenant that:
a) stopped paying the rent to ACL on a lease that, while entered into by former CCFC directors, was effectively agreed when Sisu bought the club in 2007;
b) has so far failed to pay £590K due to ACL under the terms of the deal with the Football League which allowed Otium to re-acquire the Golden Share;
cannot be considered a safe tenancy risk IMO.

 

[Astute]

It was CCC who considered the bid by Sisu for the Higgs shares to be well over market value, this was before any problems with rent etc.

Don't you mean it was one person from CCC? And we don't know the context it was made in. And also the valuation that SISU tried to use in court showed it not to be correct.

 

[lordsummerisle]

;
b) has so far failed to pay £590K due to ACL under the terms of the deal with the Football League which allowed Otium to re-acquire the Golden Share;

Has anybody really got to the bottom of it why that is the case? Not necessarily down to Sisu that to be fair.

 

[chiefdave]

I think sisu would love the fans to pay the rent at the Ricoh.

I'll give them £20 every couple of weeks in return for a ticket.

 

[No future with SISU]

What if it was wOrth a lot less than people go on about?

What about the money a football club brings to the city?

Why do they want to buy it if its not worth a lot. They are like second hand car salesmen telling you your car is not worth as much as you belived but they will do you a favour and take it off you for a lot less than its worth.

 

[No future with SISU]

Has anybody really got to the bottom of it why that is the case? Not necessarily down to Sisu that to be fair.

They have not payed as SISU do not have the money to pay it.

 

[No future with SISU]

What was the councils view of that offer? Remind me in all this excitement I've forgotten.

It never mattered what the councils view was, SISU never had the cash to buy it and that is why CCFC are playing in northampton. SISU do not have the funds to purchase the RICOH