Investment on the Horizon? (3 Viewers)

covmark said:

Who gives a shit

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They would rent the stadium from us on their match days

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If true then after all that's happened I would expect CCC to go
Above and beyond the call of duty to get this over the line.

It all sounds a bit scepticle to me, not that i want to piss on any ones hopes or deter Malaka from posting what he is being gold in good faith. It all sounds to me that you would have to buy Wasps to get access to the lease, then negotiate with the council for the freehold and you still havnt dealt with the butchers that have destroyed the club. You would have to have very deep pockets and a desire to unite both sporting clubs under one ownership model. It could be done but it would be extremley hard to accomplish.

Ate reh malaka, kala ise!? Really hope your correct!

stupot07 said:

Sorry don't believe this for one minute, especially the stadium the bit unless they meant the Butts.

1) there would be no need for thr council to buy the lease back and then sell it to ccfc

2) and this is thr biggest thing - the £35m bonds (plus £2m interest pa) that is tied into acl and the lease. Wasps can't just sell the lease to the council or anyone else without bond holders approval and if someone was to buy acl, wasps would likely be required to settle bond first. The lease is worth £40m+ (that's thr valuation the bonds are made on) so they can't sell it the council at a knock down price then the council sell it to the club for £15-20m

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Not now stupot. We are dreaming.

hill83 said:

Not now stupot. We are dreaming.

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dont get excited. dont get excited. dont get excited.

Can you imagine if this came to fruition, rich owners and owning the stadium too. All the pressure of it, the struggling and arguing evaporating instantly.

I hope Jimmy Hill is working his magic in Valhalla

Also there would be 32k beers waiting for Malaka

If true, & I most sincerely hope so,
then the nausea crew, & we know who they are,
can sit it out on the sidelines,
PUSB

Right, can't wait to tell the world.
Counting sheep didn't work. Now on to the live currency exchange indices.

stupot07 said:

Sorry don't believe this for one minute, especially the stadium the bit unless they meant the Butts.

1) there would be no need for thr council to buy the lease back and then sell it to ccfc

2) and this is thr biggest thing - the £35m bonds (plus £2m interest pa) that is tied into acl and the lease. Wasps can't just sell the lease to the council or anyone else without bond holders approval and if someone was to buy acl, wasps would likely be required to settle bond first. The lease is worth £40m+ (that's thr valuation the bonds are made on) so they can't sell it the council at a knock down price then the council sell it to the club for £15-20m

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Crossed my mind if they meant the Butts or elsewhere. Ricoh seems very complicated now.

This can't be true because CCC will go out of their way to help new owners and get rid of sisu - apparently!

stupot07 said:

Sorry don't believe this for one minute, especially the stadium the bit unless they meant the Butts.

1) there would be no need for thr council to buy the lease back and then sell it to ccfc

2) and this is thr biggest thing - the £35m bonds (plus £2m interest pa) that is tied into acl and the lease. Wasps can't just sell the lease to the council or anyone else without bond holders approval and if someone was to buy acl, wasps would likely be required to settle bond first. The lease is worth £40m+ (that's thr valuation the bonds are made on) so they can't sell it the council at a knock down price then the council sell it to the club for £15-20m

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The freehold is not worth much because of the long lease to ACL. You would have to own ACL or buy the lease. Then it would be worth something to you.

Malaka said:

I really don't know chief. I am not smart enough to ask the right questions. When I'm being told or things are being said I just listen, it is difficult to pump someone for information who is on the outskirts of what is going on. They do not know for a fact it is just what they had heard. All I am doing is passing the info as promised.

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If you were smart enough, Malaka, you wouldn't be supporting the City in the first place.

martcov said:

The freehold is not worth much because of the long lease to ACL. You would have to own ACL or buy the lease. Then it would be worth something to you.

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It would be immensely surprising, given the length of the lease now on the ground, if somebody wanted the hassle of buying the freehold anyway. Worth noting even SISU would have been happy buying the ground with a long lease as is currently there.

Couple that with the process of supposedly selling back the lease to CCC, who would then sell to a new owner of CCFC, and it all seems highly unlikely.

What I don't understand is if what Malaka says is true what is the significance of being able to buy the freehold rather than continuing with the 250 year lease the length of 3 lifetimes ? Getting hold of the freehold was something a while back Joy Sepalla kept saying she wanted as a proviso to buying the Rocoh

rupert_bear said:

What I don't understand is if what Malaka says is true what is the significance of being able to buy the freehold rather than continuing with the 250 year lease the length of 3 lifetimes ? Getting hold of the freehold was something a while back Joy Sepalla kept saying she wanted as a proviso to buying the Rocoh

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Except as the freehold owner you can do a lot more things. As leaseholder you need the permission of the freeholder to make changes etc.

The Council just don't like to give up control of anything, which is one of the reasons the city centre has never been a success.

Control freaks, always have been.

Malaka said:

A bit more to report
Apparently it's a takeover, Venus will be gone as they want there own man in with some cash. Stumbling block is the ground as the council are holding out for more than is being offered
I believe wasps are not the stumbling block
It will be a major investment
Start praying

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You seem to be implying that Sisu are happy and not causing hold ups.

Malaka said:

I really don't know what WASP's predicament is.

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Recent talk in rugby circles is that they are struggling.

Ricketts said:

Except as the freehold owner you can do a lot more things. As leaseholder you need the permission of the freeholder to make changes etc.

The Council just don't like to give up control of anything, which is one of the reasons the city centre has never been a success.

Control freaks, always have been.

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Council are well happy though when a company start throwing money around in this fair city of ours.

Just struggling to buy this. God knows I'd love it to be true but I just can't see it. Having said that if someone had have told me about the tangled mess that's been CCFC for the last few years in advance of it happening I'd have told them bollocks so I guess anything is possible.

skybluetony176 said:

Just struggling to buy this. God knows I'd love it to be true but I just can't see it. Having said that if someone had have told me about the tangled mess that's been CCFC for the last few years in advance of it happening I'd have told them bollocks so I guess anything is possible.

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I never believe any of this stuff. I don't disbelive it either necessarily, but just let it wash over me and take it all .......

martcov said:

The freehold is not worth much because of the long lease to ACL. You would have to own ACL or buy the lease. Then it would be worth something to you.

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Yep, the freehold is pretty much worth nothing, because of thr 250 year lease which is already paid up. It will only be worth something again if acl goes bust and the lease refers back to the freeholder or at the end of the 250 years when its up for renewal.

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rupert_bear said:

What I don't understand is if what Malaka says is true what is the significance of being able to buy the freehold rather than continuing with the 250 year lease the length of 3 lifetimes ? Getting hold of the freehold was something a while back Joy Sepalla kept saying she wanted as a proviso to buying the Rocoh

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Unencumbered freehold or constant litigation was her line. CCC were worried that she could then do whatever she wanted or sell it to someone who could theoretically knock the stadium down for some other project.

If someone bought an unencumbered freehold now, would Joy now say JR3 as she wasn't given that option? In the unlikely event...

To be quite honest if it fails to come to fruition we are no worse off than we already are and besides Malaka little titbits of info give some sort oh hope in this swamp of desperation that we supporters have to deal with. keep up the feed Malaka

stupot07 said:

Yep, the freehold is pretty much worth nothing, because of thr 250 year lease which is already paid up. It will only be worth something again if acl goes bust and the lease refers back to the freeholder or at the end of the 250 years when its up for renewal.

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Or the new owners buy ACL and the freehold and then cancel their own lease. Maybe make new separate leases for CCFC and Wasps as a 'propco'.

Clive Eakin mentioned last night that Fisher will again not be on the phone in on Friday. Is this a) because he can't be bothered b) because he doesn't want the inevitable flak c) because something is happening behind the scenes or d) none of the above.Let' hope it is c).

martcov said:

Or the new owners buy ACL and the freehold and then cancel their own lease. Maybe make new separate leases for CCFC and Wasps as a 'propco'.

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Then that leads back to the bonds issue in buying ACL. Wasps or someone would have to pay back the £35m before the lease moved over to the council (as o'er rumour)

I imagine someones got crossed wires and this is about the Butts not the Ricoh.

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Just can't see the lid being let on if it's gone as far as the council dragging their heels, something will surely creep out

georgehudson said:

If true, & I most sincerely hope so,
then the nausea crew, & we know who they are,
can sit it out on the sidelines,
PUSB

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I feel like if I can solve this riddle I get access to a bonus level

My heart wants to believe, but there's too many holes in the story and too many coincidences. For a start, it's council policy not to sell freeholds, hence the issue with Sisu wanting it before. That's why stuff they want developing gets rented out for a pound generally rather than sold. Which makes sense IMO, in the long run land always increases in value and you don't get more long run than government. Then you've got the Wasps bond issue stu mentions.

Then you have the question (studiously ignored by the fans) of making the Ricoh work financially for the club. Unless there's silly money to be spent on the team to push up attendances and an expected rise up the leagues, I don't see the benefit. Then there's the debt question and why Sisu would accept less after spending so much effort keeping hold of the club.

Then there's the fact that these stories pop up every season with a similar type of source and never, ever come to anything.

So yeah, put me squarely in the "I'll believe it when I see it" camp.

stupot07 said:

Then that leads back to the bonds issue in buying ACL.

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Which could be overcome by buying ACL whilst factoring in the liabilities. If the stadium is worth 48 m ( according to Wasps books ), pay 18m and keep the 30m as liabilities to be paid as part of the price. Is 48m, plus a smaller price for the freehold, a good price for a 32k stadium which you can use tomorrow as opposed to having to build a new one from scratch- as TF is doing?

The naming rights are still open which are worth a few million.

I think that, judging by Tim's stadium progress, that if you wanted CCFC, you would have to go for buying ACL or the lease - if the price were right.

stupot07 said:

Then that leads back to the bonds issue in buying ACL. Wasps or someone would have to pay back the £35m before the lease moved over to the council (as o'er rumour)

I imagine someones got crossed wires and this is about the Butts not the Ricoh.

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The Butts would fit in with Tim's previous comments and leaks which came out beforehand and CCC's no pro football comments.