Mediator appointed.. (11 Viewers)
- Thread starter Captain Dart
- Start date
Old news!
stevefloyd
Well-Known Member
Old news is better than no news
Captain Dart
Well-Known Member
I thought that was where they were meeting ? :woot:
italiahorse
Well-Known Member
Mediator .. "So although you said the Ricoh was not worth what Wasps paid, you now say that they have not paid enough and you want Wasps to pay another £30M ?"
Sisu .. "Yes"
Mediator .. "Why the fcuk am I here ?"
Sisu .. "Yes"
Mediator .. "Why the fcuk am I here ?"
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HuckerbyDublinWhelan
Well-Known Member
Whilst the JRs seem to contradict each other, isn’t the argument “it wasn’t worth what Wasps paid with the 40 year lease” and the second is “they haven’t paid enough with the 250 year lease”?
Captain Dart
Well-Known Member
I thought it was give us a load of money or a stadium to go away or we will litigate on any pretext till the cows come home?
italiahorse
Well-Known Member
There has only been one JR verdict up to now so I'm using those facts. JR2 facts are yet to be decided.
You can feed in that Sisu had also previously signed heads of terms with CCC which included a 125 year lease in 2012.
HuckerbyDublinWhelan
Well-Known Member
I’m not knocking that, like you said in the first JR it was based on the 40 year lease. The second claim is based on a 250 year lease
Either way we’re getting kicked out of the Ricoh at the end of next season, unless something gives and I somehow doubt that
oucho
Well-Known Member
If that was the case then no extension would have been agreed for next season.
Captain Dart
Well-Known Member
I think there will be a deal by then.
italiahorse
Well-Known Member
Wasps will just give us another 12 month deal. They won't however give us a long term deal while the court battle goes on.
The latest accounts show that the intention anyway is to build our own stadium.
Wasps will start to plan ahead without us whilst giving us short term deals.
Amcoventry
Well-Known Member
Where? When?
Astute
Well-Known Member
SISU moved the goalposts so much that we ended up playing in Northampton.
Londonccfcfan
Well-Known Member
I thin
I think part of these efforts is this case. If Sisu win this case, Sisu wil be asked ok what do you want out of this compensation and in what form?
If it was undervalued by x amount. Scenarios are Wasps wont be able to pay or refinance a much higher loan to pay whoever.
Or there could be a behind closed doors setlement between Sisu and wasps, which would be to renegotiate terms and lease much more favorably.Thos is what Sisu are looking for.
Or this resulting judgement could distress wasps so much that they just opt to sell up and move on.
Really we are all guessing how this coukd take shape with all tye parties involved.
I think part of these efforts is this case. If Sisu win this case, Sisu wil be asked ok what do you want out of this compensation and in what form?
If it was undervalued by x amount. Scenarios are Wasps wont be able to pay or refinance a much higher loan to pay whoever.
Or there could be a behind closed doors setlement between Sisu and wasps, which would be to renegotiate terms and lease much more favorably.Thos is what Sisu are looking for.
Or this resulting judgement could distress wasps so much that they just opt to sell up and move on.
Really we are all guessing how this coukd take shape with all tye parties involved.
skybluetony176
Well-Known Member
Still struggling to see what CCFC or SISU/ARVO will get from this court action. Yes I get Wasps will be ordered to pay an extra gazillion pounds, go bust because they can’t and SISU claim for compensation of some sort but then what? How much compensation will they get for not being offered a deal that the court has just confirmed they/we couldn’t afford in the first place? Any compensation that the club gets from that claim will most likely be used to pay of the debt to SISU/ARVO I would imagine and then what? CCFC, SISU or ARVO are going to purchase the remains of ACL and extend the lease for the exorbitant amount they’ve just established that’s worth in court that’s way beyond a price they wouldn’t pay for it in the first place? Pull the other one. What’s their end game here? Where’s that going to leave CCFC?
italiahorse
Well-Known Member
How on earth can a private business be forced to pay more on a lease deal with a council ?
If the ruling says its too cheap then the council is too blame.
This is only going one way and wasting everybody's time and money.
Why do the courts entertain these idiots ?
If the ruling says its too cheap then the council is too blame.
This is only going one way and wasting everybody's time and money.
Why do the courts entertain these idiots ?
chiefdave
Well-Known Member
Theoretically the court can order the whole deal to be unwound and the sale process started again. So Wasps would get back the money they paid the council and ownership would switch back to the council. There would then be an open sale process.
That in practice is highly unlikely to happen, the more likely scenario being Wasps being instructed to make further payment to bring the sale price up to market value.
If the courts rule Wasps haven't paid a fair price surely anyone who is a taxpayer wouldn't be complaining as it would be money due to the taxpayer.
Of course that all relies on SISU winning and we know what their track record is for court victories!
Because they've looked at the evidence presented and have decided there is a case to answer. No matter how ridiculous you or I may think it is or that the chance of SISU winning is zero its a slippery slope if we start picking and choosing which parts of the legal process can be used. Who would make that decision anyway, its already been before a judge who has instructed it to go ahead.
ceetee
Well-Known Member
It will leave a worthless football club with no assets.
As I have often said to people who say they want SISU to "just piss off".... be careful what you wish for.
And don't ask because I don't know what the answer is.
Londonccfcfan
Well-Known Member
This is all tied to in the State aid claim that they have been made before. but this time on the extended 250yr lease. If the council sold it cheap then it could be classed as that.
I know we are all very cynical and rightly so, but I think theres more to be gained by all parties by sorting this with mediation (possibility this may happen) so lets not rule it out.
Wasps and Council have a lot more to lose reputation wise than SISU. whos name is in the MUD when it comes brand reputation.
italiahorse
Well-Known Member
But how does it work if they again in the accounts they say they want to build a new stadium.
I'm sick of the silly games.
duffer
Well-Known Member
I don't think it matters what SISU say in the accounts, at least as far as the mediation process goes.
You could flip this around and actually see it as good news. Any side who are seen by the judge as not doing their best to work towards some kind of solution, are likely to get short shrift if it ends up back in the court. It'll be interesting to see if it breaks the deadlock, imho.
Nick
Administrator
Yep, if they go back and say "Well SISU didnt turn up to any of them" to the judge then its hardly going to help is it...
Warwickhunt
Well-Known Member
if there is no case why the fuck does a judge appoint a mediator? is it the 250 year lease thats opened up Pandora's box???
italiahorse
Well-Known Member
Why would they have to pay Sisu ?
The only way Sisu will get money is compensation from CCC for being forced out / equivalent deal not offered. Good luck with that one in view of JR1 findings.
Any payment Wasps make will be is to CCC for under payment. Good luck with that one as again CCC will just be reprimanded and Wasps will just say we took what was on offer.
clint van damme
Well-Known Member
it's in the strategic report section of the accounts. Just bog standard guff to be honest:
"A number of challenges continue to face the football club. Although the club has agreed a deal to continue to play at the Ricoh Arena untilthe end of the 2018/19 season, efforts to progress relocating to an alternative long term home ground for the club continue. With regard to the academy, we remain in talks with Coventry Sports Foundation in respect of a longer term contract to remain at our Academy current site."
skyblueinBaku
Well-Known Member
I hope that they put more effort into it than they have in the past!
Grendel
Well-Known Member
The reason they gave was that they don’t want to upset the local community by ejecting the football club.
They hardly ever train at the other club they are at. Most of the time they train somewhere near London.