Article Index

 

   Source
 2002
 
16th May Arena Coventry Limited (ACL) incorporated Companies House
Year to 31st May  CCFC H accounts note that option to purchase the land on which Ricoh Arena was built lapsed. £4.8m net costs treated as cost of investment in Arena Coventry Limited (joint venture with CCC)(net costs is the costs spent less relevant loans/creditors) 50:50 joint venture with CCC. Lease payments for land £425,000 but unclear if this relates only to Highfield Rd. Expenditure on stadium project in year £722,932
Companies House
CCFC H accounts 2002 
 31st May  Financial statements for Arena 2001 Ltd contain the following: Losses £5,216,750 which included loss on disposal of the assets under construction of £4,808,425. The assets under construction had to be sold due to the “company failing to achieve funding to complete the project”. External finance was waived leaving the £4.8m loss. Directors salaries were £277,605. CCFC H was owed £5,239,209
Companies House
 September  Final gas holder demolished at Stadium site
News reports
2nd September Coventry North Regeneration Limited formed, a wholly owned subsidiary of Coventry City Council. CNR Ltd principal activity was the procurement of the stadium build. CCC provided a £21m loan to help finance the project. Companies House
19th September  ACL appointed to act on behalf of CNR ltd to manage and negotiate the Arena project.  Companies House
CNR Accounts 2003