Your Move SISU (1 Viewer)

[Jack Griffin]

I'd like to know if ACL had somehow arranged for the sale of the freehold to Sisu on agreeable terms, but this was presented and offered to the Administrator at the meeting to agree the CVA in a way that could be deemed unlawful under insolvency law, would Sisu and their lawyers have found a way to accept it?

All very hypothetical but would be interested to find out.

Yes SBS, you've hit the nail on the head there, it is not the oft quoted legal technicalities that stopped a deal on those terms, it is the will of the participants.

Again you're missing the point. I am not advocating the Northampton move and I am not advocating building a new ground.

The fact is without access to additional or match day income at the Ricoh PL football will be virtually impossible to achieve.

Now, here you are missing several points, JS/SISU want the freehold to make a profit on her investment, the return of CCFC to the premiership is not on her agenda.
Furthermore, it is clear that ACL will negotiate on all these matters & certainly include F&B, and parking income streams in the package (I'm confident of that as they'd already offered some of them during previous negotiations).
What is the future with SISU, remembering that they are not getting the stadium/freehold at less than market value, well it is as a club being run away form Coventry for 7 years, that is long term enough for me.

 

---

[Astute]

Again you're missing the point. I am not advocating the Northampton move and I am not advocating building a new ground.

The fact is without access to additional or match day income at the Ricoh PL football will be virtually impossible to achieve.


Sent from my iPhone using Tapatalk - so please excuse and spelling or grammar errors

And you seem to be missing the point. Keeping us in Northampton will stop us getting out of Division 3. Or have you forgotten about FFP? Why don't they start talks on what they want? Again they have been offered talks. What does Joy do? Even more litigation. The pie money might pay for one average player. And this is supposed to get us into the Prem? :thinking about:

 

[James Smith]

Again you're missing the point. I am not advocating the Northampton move and I am not advocating building a new ground.

The fact is without access to additional or match day income at the Ricoh PL football will be virtually impossible to achieve.


Sent from my iPhone using Tapatalk - so please excuse and spelling or grammar errors

I thought at one point ACL had offered as much of the matchdays as they could/would in a previous rent offer and it was rejected. Not 100% on that one though as I had a bad nights sleep, not feeling great and the Nurofen haven't kicked in yet.

 

[stupot07]

I thought at one point ACL had offered as much of the matchdays as they could/would in a previous rent offer and it was rejected. Not 100% on that one though as I had a bad nights sleep, not feeling great and the Nurofen haven't kicked in yet.

No, they just agreed to cross invoice so it look like income.


Sent from my iPhone using Tapatalk - so please excuse and spelling or grammar errors

 

[covcity4life]

I thought at one point ACL had offered as much of the matchdays as they could/would in a previous rent offer and it was rejected. Not 100% on that one though as I had a bad nights sleep, not feeling great and the Nurofen haven't kicked in yet.

if you are not sure dont use it as part of your pro acl argument.

 

[James Smith]

if you are not sure dont use it as part of your pro acl argument.

It wasn't a pro ACL argument it was more of a question (although one without a question mark - oops) and apparently they were offered the ACL share of F&B with cross invoicing to include the Compass share and take it to 100% to help with FFP.

OK, for the God knows how many-th time:

Rent reduced by £900k.

Cross invoicing of total F+B revenues.

Access to ACL's share of F+B profit.

Rent arrears (accrued in violation of contract), cut down by £700k.

Escrow cut down by £300k.

In my mind none of the above adds up to ACL being unwilling negotiators. What part of this offer is so unpalateable that it is worth shifting the club to a groundshare outside of Coventry, shedding thousands more fans and incurring even greater financial hardship? If we have enough money for a new ground we have enough money to easily take up 50% of the one we (used to?) occupy and merge CCFC and ACL into one.

That is errant nonsense old bean, the club have already been offered ACL's cut of matchday F&B, which is 77% thereof.. Compass only get 23%

And ACL offered to arrange a meeting with all parties in the Compass JV; to which Fisher - at the forum - admitted he hadn't participated; nor even bothered to call. His reason? 'It's not worth it'.

It's not about rent. It's not about F&B's. For goodness sake, those who still - in the face of all reason and actions - insist it is are quite beyond me

 

[chiefdave]

No, they just agreed to cross invoice so it look like income.

Are you 100% certain on that. I was under the impression they had offered CCFC their share of the profits (70 something %), a meeting with Compass regarding access to their share and cross invoicing to increase spend under FFP. It was part of the offer to reduce the rent to £400K

 

[italiahorse]

I thought at one point ACL had offered as much of the matchdays as they could/would in a previous rent offer and it was rejected. Not 100% on that one though as I had a bad nights sleep, not feeling great and the Nurofen haven't kicked in yet.

They offered to book the takings in such a way that they could be used in the fair play rules. I guess the actual contributions for ccfc would be nothing.

 

[James Smith]

They offered to book the takings in such a way that they could be used in the fair play rules. I guess the actual contributions for ccfc would be nothing.

According to the Trust Q&A session there would have also been real money changing hands

11: Have there been detailed discussions regarding match day income and what revenues CCFC want access to?

ACL: Yes

CCFC: Yes

12: £100,000 has been publicised as the value of food and beverage income – is this 50% of the profits i.e. ACL’s half from the EIC joint venture?

ACL: In principle – we have all accepted that more work is needed on the detail of this, and it needs to be agreed with ACL’s contracted partner Compass, so it is not simply in ACL’s gift. Of course match-day income is also influenced by attendances, these we have seen drop from an average of 13,126 in 11/12 to a current year to date average of 9,259

Match-day F&B Turnover in 11/12 season was £1,010,992, with Nett Profit of £119,903.

ACL would be willing to give CCFC full details of the F & B accounts and were prepared to go open book and even allow CCFC to use the revenue figures in the clubs FFP calculations?

CCFC: CCFC would have to negotiate with ACL partner Compass but if after 3 months Compass would not agree access to this level of revenue indicated by ACL, we would ask that the rent be reduced by £100k

http://www.skybluetrust.co.uk/index...full-version-of-qaa-to-acl-and-ccfc?showall=1

 

[stupot07]

According to the Trust Q&A session there would have also been real money changing hands

http://www.skybluetrust.co.uk/index...full-version-of-qaa-to-acl-and-ccfc?showall=1

Not much though as the current F&B model somehow manages to only make a 10% profit. It's alright cross invoicing and superficially adding £1m to the turnover for ffp, but it would contribute little towards running costs,

How do they only make c10% one F&Bs? Regardless of ccfc and this mess, I can't fathom how they make so little profit. A quick google suggests pubs, restaurants etc make 60%+.


Sent from my iPhone using Tapatalk - so please excuse and spelling or grammar errors

 

[James Smith]

Not much though as the current F&B model somehow manages to only make a 10% profit. It's alright cross invoicing and superficially adding £1m to the turnover for ffp, but it would contribute little towards running costs,


Sent from my iPhone using Tapatalk - so please excuse and spelling or grammar errors

But then how much are we making at Sixfields if it's all about F&B? This whole mess started out about the rent which was (I think everyone agrees) too high and when ACL made offers which were lower, F&B then became the big sticking point. I don't know the first thing about catering and can't comment on that but I do know that you don't make more money off less people unless you raise prices and we're hardly seeing massive gates whilst at Northampton, and are we getting money from the F&B there?