Coventry City Council have responded to claims by the Coventry Telegraph and others to prove that the Ricoh Arena is profitable after losing its man tenants Coventry City Football Club.
City Council Leader Ann Lucas told the Coventry Telegraph's Les Reid: “ACL have got a business plan, and they’re telling us they can manage without the club.
“It’s a very profitable enterprise. We wouldn’t have bought the loan if we thought it would be money at risk.
”In words which appeared to signal any sale of the Ricoh to the club’s owners Sisu/Otium was highly unlikely, she said: “At the right time, and right price, to the right people, we may be prepared to sell.
“But I am not saying ‘yay’ or ‘nay’ to anything.”
“We have (ACL) directors (including council executives Martin Reeves and Chris West) charged with ensuring it runs a profitable business.
“I wished we’d have come to some arrangement with Coventry City Football Club. That didn’t happen.
“I’ve clearly indicated to (Sisu boss) Joy Seppala to come and talk to me. If somebody can show me it’s worth selling, the council will consider it.
”The council are joint owners of ACL with the Alan Edward Higgs Charity, for which Peter Knatchbull-Hughesen is an ACL director.Talks collapsed last year over a sale of the Higgs 50 per cent share in ACL to Sisu, for what was believed to be £4million - with claims being made on both sides as to the reasons."
More on this: http://www.coventrytelegraph.net/news/coventry-news/ricoh-arena-very-profitable-even-5674994