World class stadium worth £1 million? (1 Viewer)

Grendel · Oct 7, 2014

So if we believe the media all the council have back for the good old taxpayer is around £1 million - £3 per Coventry inhabitant.

What conclusion can one draw from this - why the need to sell?

Did sisu win the battle in the end and distress ACL to such an extent they could no longer meet loan and creditor repayments? If not aren't the taxpayer being ripped off and having the community asset effectively given to a London consortium ?

Will the public ever be told the truth about what went on in private in the council chambers?

I wonder.....,

Rusty Trombone · Oct 7, 2014

Yeah, I think SISU have won, they are no doubt celebrating as we speak.

ccfc92 · Oct 7, 2014

what do want/think Grendel?

ccfcway · Oct 7, 2014

SISU dint win the battle, else they wouldn't have sided with the fans in a desperate plee at the end to not pass this today.

Feck knows who won.

bigfatronssba · Oct 7, 2014

Don't worry Grendel, at least the evil council will now have no control over the club. You must be very happy.

No excuse for the club now. Back to back promotions without CCC holding them back.

Grendel · Oct 7, 2014

ccfc92 said:
what do want/think Grendel?

I think ACL were financially experiencing issues - I can't certainly to any other conclusion

ccfcway · Oct 7, 2014

Grendel said:
I think ACL were financially experiencing issues - I can't certainly to any other conclusion

If only CCFC would have taken advantage of that by actually then

ccfc92 · Oct 7, 2014

Grendel said:
I think ACL were financially experiencing issues - I can't certainly to any other conclusion

so why did sisu not buy the Ricoh/ACL?

ccfcway · Oct 7, 2014

Grendel said:
I think ACL were financially experiencing issues - I can't certainly to any other conclusion

assuming your right. Hedge fund SISU should be thanked for getting a London rugby team a decent stadium on the cheap

chiefdave · Oct 7, 2014

Depends how you look at it. Some people think the Ricoh is a cash cow and the council and Higgs are making millions out of it, they would think it was a bad deal. Others things the council has no business being involved in stadium management and would think getting their money back was a good result.

chiefdave · Oct 7, 2014

Of course if the implication is that Wasps have purchased the stadium on the cheap it makes even less sense for our owners not to have put in a similar bid.

ccfcway · Oct 7, 2014

when fisher joined, they bid circa £10 million, which got turned down.

The club haven't placed another offer, yet its CCC fault when they sell to someone else for more than the £10 million offer ?

Grendel · Oct 7, 2014

chiefdave said:
Depends how you look at it. Some people think the Ricoh is a cash cow and the council and Higgs are making millions out of it, they would think it was a bad deal. Others things the council has no business being involved in stadium management and would think getting their money back was a good result.

So they only spent £1 million then?

Wyken Sky Blue · Oct 7, 2014

ccfcway said:
when fisher joined, they bid circa £10 million, which got turned down.

The club haven't placed another offer, yet its CCC fault when they sell to someone else for more than the £10 million offer ?

The Ricoh was built for CCFC. Which is why it is fair that anybody wishing to purchase the Ricoh the council should inform the club that a party is interested.

That's whats pissed me off the most; the club had no idea about it. Now, if the council have said 'Wasps have offered x, match it and its yours' and then SISU reject it then it would've been a different story.

dongonzalos · Oct 7, 2014

Grendel said:
So if we believe the media all the council have back for the good old taxpayer is around £1 million - £3 per Coventry inhabitant.

What conclusion can one draw from this - why the need to sell?

Did sisu win the battle in the end and distress ACL to such an extent they could no longer meet loan and creditor repayments? If not aren't the taxpayer being ripped off and having the community asset effectively given to a London consortium ?

Will the public ever be told the truth about what went on in private in the council chambers?

I wonder.....,

I would hazard a guess that if you are correct, that SISU's plan was let's distress ACL so we acquire it on the cheap. Otherwise its a lot of effort to distress them for no gain. I am assuming their plan was not let distress ACL so they are bought by wasps whilst we waste 30 million on a new stadium.

Secondly you have repeatedly stated that no one else other than CCFC would ever be interested in buying ACL. So maybe CCC believed you and this was a once in a lifetime opportunity to do business with someone with an appetite to conclude a deal.

Thirdly you have maintained that SISU's hard business tactics will do good for the club.

I am still struggling to see that after a relegation to division three. A unwanted adventure in Northampton. A current mid table team in division three. A game of bluff that led to someone else buying ACL.
A new stadium proposal that's completely unnecessary

Grendel · Oct 7, 2014

bigfatronssba said:
You've hit the nail on the head there.

If ACL is doing well, why haven't sisu put a bid in?

If ACL is doing badly, CCC have done well to make a profit.

Wow they never incurred any costs then? Wow just wow - still they did financially take the club to the cleansers for years and bust it so you may have a point.

Grendel · Oct 7, 2014

dongonzalos said:
I would hazard a guess that if you are correct, that SISU's plan was let's distress ACL so we acquire it on the cheap. Otherwise its a lot if effort to distress them for no gain. I am assuming their plan was not let distress ACL so they are bought by wasps whilst we waste 30 million on a new stadium.

Secondly you have repeatedly stated that no one else other than CCFC would ever be interested in buying ACL. So maybe CCC believed you and this was a once in a lifetime opportunity to do business with someone with an appetite to conclude a deal.

Thirdly you have maintained that SISU's hard business tactics will do good for the club.

I am still struggling to see that after a relegation to division three. A unwanted adventure in Northampton. A current mid table team in division three. A game of bluff that led to someone else buying ACL.
A new stadium proposal that's completely unnecessary

Didn't you once say it was worth about £60 million? To be fair if they were flogging it for the equivalent of a pint of beer per inhabitant I guess its not so bad value after all.

Still proud Don?

spider_ricoh · Oct 7, 2014

Grendel said:
I think ACL were financially experiencing issues - I can't certainly to any other conclusion

No shit - nothing to do with your precious SISU deliberately trying to bankrupt them (as confirmed in the JR) ???

spider_ricoh · Oct 7, 2014

Grendel said:
Didn't you once say it was worth about £60 million? To be fair if they were flogging it for the equivalent of a pint of beer per inhabitant I guess its not so bad value after all.

Still proud Don?

Considering that one of your excuses for opposing the council's "checkmate" move of taking over the YB loan was that the taxpayer lost out, it seems hard to reconcile this with the fact that the Wasps deal removes the liability of the mortgage and future uncertainty, as well as ending the generally unwanted scenario of the council being involved in a sports stadium (other than owning freehold). You criticised the bail-out for not being value for money, so you must now be pleased!

Grendel · Oct 7, 2014

spider_ricoh said:
No shit - nothing to do with your precious SISU deliberately trying to bankrupt them (as confirmed in the JR) ???

So without the club you pretend to support you admit its worthless?

dongonzalos · Oct 7, 2014

Grendel said:
Didn't you once say it was worth about £60 million? To be fair if they were flogging it for the equivalent of a pint of beer per inhabitant I guess its not so bad value after all.

Still proud Don?

I may have said the Ricoh itself is worth at least that.

Still struggle to hold your hand up when you get it so glaringly wrong?

Don't worry we all know

ccfc92 · Oct 7, 2014

Grendel said:
So without the club you pretend to support you admit its worthless?

Do you think there's a deal to be done between CCFC and Wasps? Or CCFC buy Higgs shares?

Astute · Oct 7, 2014

Leave Grendel alone. He is trying to make himself sound right all the way through this shitfest.

Brighton Sky Blue · Oct 7, 2014

Thing is Grendel the boycott clearly distressed SISU more as they were the ones who admitted defeat and came back. The council then called their bluff on building a new ground by entertaining a bid from Wasps which went unchallenged by the club. So we are now left with any hope of using the Ricoh as anything other than tenants extinguished. Our long term future now lies either in paying rent to Wasps or in actually going through with a new stadium.

Yeah, SISU played a blinder on this one.

Grendel · Oct 7, 2014

dongonzalos said:
I may have said the Ricoh itself is worth at least that.

Still struggle to hold your hand up when you get it so glaringly wrong?

Don't worry we all know

I think you are now part of the lunatic fringe and I am in the majority on this .

Bit like the old days to be fair . When you backed thorn and looked an idiot and then Haskell.

Will you ever get anything right?

The council have screwed us - have a look at John fletcher and his view in this and then come back to me.

ccfcway · Oct 7, 2014

Fisher has been speaking to highways agency.

I think he means he had renewed his road tax

Grendel · Oct 7, 2014

Astute said:
Leave Grendel alone. He is trying to make himself sound right all the way through this shitfest.

Says the council apologist who now looks as foolish as Dongle. Obtuse would be a better name for you you know

ccfc92 · Oct 7, 2014

Grendel said:
I think you are now part of the lunatic fringe and I am in the majority on this .

Bit like the old days to be fair . When you backed thorn and looked an idiot and then Haskell.

Will you ever get anything right?

The council have screwed us - have a look at John fletcher and his view in this and then come back to me.

Is it not worth waiting a week or two and see how the finer details pan out and go from there?

I'm not saying CCC are in the right, just see what happens basically, and judge from that?

Also, do you see a Ricoh deal between CCFC and Wasps? Or CCFC buying Higgs?

Astute · Oct 7, 2014

Grendel said:
Says the council apologist who now looks as foolish as Dongle. Obtuse would be a better name for you you know

Yes Grunter. You don't Just look foolish. You are foolish.

Rusty Trombone · Oct 7, 2014

I think the main point you make is correct Grendel, SISU successfully distressed ACL. Where they have gone wrong is that they didn't go in for the kill at the right time, and Wasps have come in and grabbed the prize.

If ACL were doing well that wouldn't itself be a reason not to sell, but they would sell at a premium, what it looks like they have done is sold it at a give away price.

Como · Oct 7, 2014

CCC still own the freehold.

ccfc92 · Oct 7, 2014

He must be bored of discussion, only replying to petty arguments and hunting threads for joyous people celebrating a decent win.

letsallsingtogether · Oct 7, 2014

To be honest it is a done deal no point in getting upset with it now.

People were saying council shouldn't get involved now they have sold they are saying it is a bad deal.

I for one don't give a shit anymore I will go and watch the City and just try and enjoy the football while we are in this City, the rest can now just go to hell have had enough of the shit.....

PUSB good game today Bonus.

dongonzalos · Oct 7, 2014

Grendel said:
I think you are now part of the lunatic fringe and I am in the majority on this .

Bit like the old days to be fair . When you backed thorn and looked an idiot and then Haskell.

Will you ever get anything right?

The council have screwed us - have a look at John fletcher and his view in this and then come back to me.

I heard his view he said SISU needed to get a counter bid in ASAP. He was met with silence

Grendel · Oct 7, 2014

dongonzalos said:
I heard his view he said SISU needed to get a counter bid in ASAP. He was met with silence

The deal has been done - the council have sold for £1 million chap - that's it.

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