Mumford and Daughter
New Member
Reading the arcticle in the telegraph, talks are 'positive' so would you like sisu part owning the ground?
I think the more important statements are -
The Charity and Council expect the redevelopment of 5 acres adjoining - that adds to the cost of purchasing even 50%
and most importantly of all .......
The council has no intention of selling its 50% share to anyone at this time - means SISU cannot get a guaranteed immediate positive cashflow from purchasing any interest in ACL
no i wouldnt trust them with it, they sold our only profitable company, mortgaged our training ground and got loans based on season ticket projections, as soon as they owned it they'd sell it for a meagre profit and then bail leaving our club even worse off.
As it stands the ground is already mortgaged..... ACL (charity & Council) took out £21m loan to develop the site.
Try ringing sisu hq,I did the other day,as soon as you mention ccfc you get the phone slammed down! This pissed me off so I gave them 30 mins of crank calls lol. They hate us fans. They get their hands on that ground then were fecked.
i want 50% of stadium any which way we can get it
if we have income im sure sisu will loosen the purse strings
dont hate for hatings sake!
annoyed with council refusing to ever sell thoughthats 50% could be difference between championship and prem)
CC4L owning 50% of ACL wont get us income anytime soon. Only way we could extract income by owning 50% of shares is by a dividend and with negative reserves accumulated so far those dividends cannot be paid. So there is no short term gain to free up purse strings. In fact if they have to pay interest on the monies borrowed/used to buy the 50% then the purse strings could be tighter. The attraction of 50% from the charity is that it is a discounted price
The council have to act in the best interests of the majority of Coventry's population. Population 260k active CCFC fans 15K. They have to take decisions based on that - why should they risk or discount ratepayers money so that a minority can gamble on premiership football or owners cash in to make a financial killing. We see it through Sky blue glasses but reality for the council is something different and i dont think i disagree with them reaping some rewards from the arrangement if that money is indeed used to benefit council front line services