Wasps current finances & hope (15 Viewers)

[stupot07]

I wonder how many car park spaces this would remove? I'm guessing for decent number of rooms they would need their own dedicated car park. This would impact on hosting multiple events on the same day which would hit revenues. They had an event on the other week and the whole of car park c was packed.

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[Terry Gibson's perm]

Italia will be rubbing his hands together

 

[chiefdave]

Wonder if the council will get a valuation done first :emoji_joy:

 

[italiahorse]

Italia will be rubbing his hands together

...... from my Caymen Islands residence.

 

[Captain Dart]

Commercially sensitive = freebie?

 

[Nick]

Surely as it's the council a FOI would get that info?

 

[Terry Gibson's perm]

These people do not help themselves do they not everything they do with wasps can be hidden the tax payers deserve to know what their council are giving away to be sold on, it stinks of state aid and should be halted and investigated.

 

[Captain Dart]

Surely as it's the council a FOI would get that info?

No, FOI allows that excuse, always has. besides its Wasps to which the sensitivity applies & they are a commercial concern are they not?

 

[Terry Gibson's perm]

It just adds more ammunition to sisu jr27 the car park sale

 

[lordsummerisle]

No, FOI allows that excuse, always has. besides its Wasps to which the sensitivity applies & they are a commercial concern are they not?

Surely local taxpayers should be aware how much they are getting for it?

Fuck Wasps " commercial sensitivity".

 

[fernandopartridge]

Surely local taxpayers should be aware how much they are getting for it?

Fuck Wasps " commercial sensitivity".

Why wasn't commercial sensitivity an issue with the Ricoh lease extension?

 

[Deleted member 5849]

Surely local taxpayers should be aware how much they are getting for it?

Fuck Wasps " commercial sensitivity".

Hmm, at the risk of a digression, isn't that the problem with national government expecting local government to act like commercial entities?

Can't have cake and eat it.

Although, of course, that's why cmmercial disputes such as SISU v CCC end up happening, too!

 

[Deleted member 5849]

Why wasn't commercial sensitivity an issue with the Ricoh lease extension?

I thought FOI requests about the Wasps deal were thrown out for that reason too?

 

[fernandopartridge]

I thought FOI requests about the Wasps deal were thrown out for that reason too?

They made it public at the outset. What suited at that time.

 

[Captain Dart]

Why wasn't commercial sensitivity an issue with the Ricoh lease extension?

I'd guess because at that time Wasps had the money & now they are a bit strapped.
They'll be borrowing more to fund this.

 

[Nick]

I'd guess because at that time Wasps had the money & now they are a bit strapped.
They'll be borrowing more to fund this.

What's that got to do with it?

 

[fernandopartridge]

I'd guess because at that time Wasps had the money & now they are a bit strapped.
They'll be borrowing more to fund this.

Not really, commercial confidentiality is what it is. The council and Wasps seem to cherry pick as to whether something is confidential when it suits them.

 

[fernandopartridge]

With the reduction in parking spaces at the arena, aren't the council in breach of one of their own planning conditions:

http://planning.coventry.gov.uk/portal/servlets/AttachmentShowServlet?ImageName=539526

 

[chiefdave]

This is an interesting bit of the report given it applies to a lease and not a freehold. These are the regulations I've referred to before but the general consensus has been they don't apply to leases only freeholds.

The Council is under an obligation to obtain the best price reasonably obtainable in accordance with section 123 of the Local Government Act in respect of disposals of interests in land and property. In this respect, the Council and WHL jointly commissioned GVA to assess market value of the proposed long leasehold interest for the purposes of S.123 of the Local Government Act 1972 and accordingly, the capital premium represents best consideration.

Like this bit from the council

Background papers
None

Other useful documents
None

Has it been or will it be considered by Scrutiny?
No

Has it been or will it be considered by any other Council Committee, Advisory Panel or other body?
No

Will this report go to Council?
No

With the reduction in parking spaces at the arena

Easy solution, just let Wasps have another bit of land to have a car park on.

It is therefore proposed that the Council enters into a licence with WHL to allow the use of the Leisure Land as a temporary car park on a revenue share basis.

this land is owned by the council on behalf of the taxpayers of Coventry. If designated for retail it would be worth many millions,

 

[stupot07]

Very dodgy that no figure will be disclosed.

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[Terry Gibson's perm]

They will say a seven figure deal unfortunately the first digit will be zero and followed by lots more

 

[djbooth]

I guess that means they won’t be going bust soon

 

[Sick Boy]

I guess that means they won’t be going bust soon

Hopefully it's becoming clearer to them that they aren't wanted in the city though.

 

[fernandopartridge]

Hopefully it's becoming clearer to them that they aren't wanted in the city though.

They're extending the lease to try anld extract some value from the land. Presumably any planning application will explain how Wasps will mitigate the loss of parking spaces

 

[lordsummerisle]

I guess that means they won’t be going bust soon

Council have to keep them going to stop themselves looking like cunts.

 

[Terry Gibson's perm]

Why couldn’t they use the land between the Ricoh and the arena park shopping instead of the car park? Probably isn’t owned by the council so somebody will want real money for it

 

[Captain Dart]

Why couldn’t they use the land between the Ricoh and the arena park shopping instead of the car park? Probably isn’t owned by the council so somebody will want real money for it

FYI

 

[chiefdave]

Why couldn’t they use the land between the Ricoh and the arena park shopping instead of the car park? Probably isn’t owned by the council so somebody will want real money for it

A while back Bob Ainsworth posted an explanation on his website of who owned which bits of land at the Ricoh. Of that piece of land he said 'this land is owned by the council on behalf of the taxpayers of Coventry. If designated for retail it would be worth many millions'.

 

[fernandopartridge]

A while back Bob Ainsworth posted an explanation on his website of who owned which bits of land at the Ricoh. Of that piece of land he said 'this land is owned by the council on behalf of the taxpayers of Coventry. If designated for retail it would be worth many millions'.

LOL. Perhaps that can be the location of the John Lewis the council is obsessed with

 

[Captain Dart]

A while back Bob Ainsworth posted an explanation on his website of who owned which bits of land at the Ricoh. Of that piece of land he said 'this land is owned by the council on behalf of the taxpayers of Coventry. If designated for retail it would be worth many millions'.

That article is where that graphic above comes from. Retail is less value now, housing is the new moneyspinner.

 

[chiefdave]

That article is where that graphic above comes from. Retail is less value now, housing is the new moneyspinner.

Pretty sure letting a rugby club use it as a car park for next to nothing so they can build a hotel on the existing car park ranks a long way behind housing or retail on the valuation front.

 

[oldskyblue58]

Given the wasps holdings finances are so poor according to the auditors and people on here where are they getting the money from? How can they afford the project? have they new funding partners? If so who?

 

[Nick]

Given the wasps holdings finances are so poor according to the auditors and people on here where are they getting the money from? How can they afford the project? have they new funding partners? If so who?

Commercial Confidentiality

I heard the builders had been found already

What happened to all of the houses by the Higgs they were going to build?

 

[Terry Gibson's perm]

Given the wasps holdings finances are so poor according to the auditors and people on here where are they getting the money from? How can they afford the project? have they new funding partners? If so who?

Italia and Grendel dream team

 

[fernandopartridge]

Given the wasps holdings finances are so poor according to the auditors and people on here where are they getting the money from? How can they afford the project? have they new funding partners? If so who?

As I posted earlier on in the thread, I don't think they'll be funding anything. I assume their plan is to sub-let the land once they've got the long leasehold.

Remember we've heard about grand plans from them before with the £7m academy; they're as bad as SISU for it.