St Andrew's it is then (11 Viewers)

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Orca

Orca

Well-Known Member
Nick said:
How were the council able to lean on Cov Rugby? They make things very difficult.

Please don't come back on here spouting your well timed bullshit just to fuck off when the football starts. Save that shit for your Council mates if they haven't all been banned from Twitter yet.
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Never change Nick, never change. I've been here the whole time and it wouldn't surprise me if you're already well aware of that.
 
shmmeee

shmmeee

Well-Known Member
Orca said:
SISU don't get the Ricoh if the case is found against CCC (I know you already know that). Wasps will have to stump up the difference between what they bought it for and whatever value the EU place on the Arena. The general assumption is that they won't be able to afford it, hence having an indemnity protects them from being destitute. That said, we now have an impasse over whether the indemnity exists at all.
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Im assuming Sisu think they get something. Even if it’s a discounted Ricoh. And that something is worth all this hassle. Whether I think it’s likely isn’t Relevant really.

Point is all sides have motivations, there’s a lot of naivety in this thread, which is understandable because it’s the club, but I wouldn’t take anyone’s statements as gospel right now. I think we’re in for another shitstorm summer.
 
Nick

Nick

Administrator
Orca said:
Genuinely, I don't. How do the Council prevent a commercial deal happening between two companies?
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How did they stick their nose in with the Butts? How have their stuck their nose in with other things non CCFC related? Open Doors Charity? They make things difficult for people.

Your "I don't know anything" act is embarrassing.
 
usskyblue

usskyblue

Well-Known Member
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David O'Day

David O'Day

Well-Known Member
Genuine question. If the state aid case is upheld and Wasps then have to pay what is seen as fair market price and can't what happens then?

Do they hand ownership back to the council and what happens to the money originally paid for the Ricoh?
 
cc84cov

cc84cov

Well-Known Member
David O'Day said:
Genuine question. If the state aid case is upheld and Wasps then have to pay what is seen as fair market price and can't what happens then?

Do they hand ownership back to the council and what happens to the money originally paid for the Ricoh?
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I’m sure if they default it falls back into council hands
 
shmmeee

shmmeee

Well-Known Member
David O'Day said:
Genuine question. If the state aid case is upheld and Wasps then have to pay what is seen as fair market price and can't what happens then?

Do they hand ownership back to the council and what happens to the money originally paid for the Ricoh?
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Honest answer is no one really knows. The powers are there for all sorts of remedies from paying back money, to promises of selling off bits, to changing legislation, seemingly whatever rights the wrong in the eyes of the EC/U.K.

I think the judgement makes recommendations, I don’t know how bound the member state is to enact them to the letter. Especially when we’re leaving. Lots of unknowns.

I doubt it operates in a vacuum. If Wasps can prove the remedy would overly disadvantage them I’d imagine they’d have a case for an appeal. Governments generally aren’t keen of destroying companies.
 
Orca

Orca

Well-Known Member
Nick said:
How did they stick their nose in with the Butts? How have their stuck their nose in with other things non CCFC related? Open Doors Charity? They make things difficult for people.

Your "I don't know anything" act is embarrassing.
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Yes, I've read that email. Doesn't read well. I'd be very interested to learn if the Council had any influence on this latest development.

I'm glad you seem to think I know something at least.
 
Nick

Nick

Administrator
David O'Day said:
Genuine question. If the state aid case is upheld and Wasps then have to pay what is seen as fair market price and can't what happens then?

Do they hand ownership back to the council and what happens to the money originally paid for the Ricoh?
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Would think most of the money paid for it still needs to be paid back to bond owners.
 
David O'Day

David O'Day

Well-Known Member
Orca said:
If the lease is broken, the freeholder takes back the site. So yes, the Council get it back.
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Is the lease actually broken as they have paid the request amount as per the legal documents that would of been signed at the time. The issue isn't what Wasps paid but what CCC asked them to pay.
 
Nick

Nick

Administrator
David O'Day said:
It's and issue for Wasps but it is still not the same issue as what happens to the money paid to CCC.
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The actual sale price for CCC was only about 2.6m or so wasn't it? Then something for the lease.

Then there's the loan that they cleared.
 
Orca

Orca

Well-Known Member
David O'Day said:
It's and issue for Wasps but it is still not the same issue as what happens to the money paid to CCC.
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As far as I understand it, two different transactions. Wasps bought the shares of ACL, paid off the bank debt and then subsequently issued their own bond.
 
Orca

Orca

Well-Known Member
Nick said:
The actual sale price for CCC was only about 2.6m or so wasn't it? Then something for the lease.

Then there's the loan that they cleared.
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Extra £1m for the extended lease, concluded after the sale.
 
Orca

Orca

Well-Known Member
Nick said:
Agreed before the sale in the same meeting as whether to sell the council's shares. Bit strange.
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Not aware of the timings. As far as I know, you can't extend a lease, unless you actually own it. Hence why it couldn't have been offered to other parties.
 
Nick

Nick

Administrator
Orca said:
Not aware of the timings. As far as I know, you can't extend a lease, unless you actually own it. Hence why it couldn't have been offered to other parties.
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You weren't aware of that either?

At the time the lease was agreed to be extended, wasps owned nothing. Why not extend it while CCC owned it and charge wasps more?
 
MalcSB

MalcSB

Well-Known Member
Magwitch said:
They are talking crowds back to footie in October so first few games could be behind closed doors I suspect the EFL would be after a decision as to where we will be playing so hopefully things could change, nearly three months yet. Still keeping fingers crossed.
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The EFL have the decision, St Andrews.
 
Brylowes

Brylowes

Well-Known Member
Nick said:
Because it has been pretty obvious for years that the council are sticking their beak in?

What are their actions? Calling out Wasps / CCC again?
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Realy not looking for an argument.
Usually just read nowadays for the latest updates on the club, invaluable for a distant fan.
But you Nick always seem to have an uncanny knack of intercepting things before they happen, working out what’s coming up ‘by analysing What preceded it.
Just wondering :unsure:at which point during the Warwick Uni announcement did you work out the St Andrews announcement would be soon to follow.
 
Liquid Gold

Liquid Gold

Well-Known Member
I think it’s pretty obvious the council player the PR war and won before Northampton and sisu are winning the PR war now.
 
Frostie

Frostie

Well-Known Member
Liquid Gold said:
I think it’s pretty obvious the council player the PR war and won before Northampton and sisu are winning the PR war now.
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You do have to question why a city council needed to hire a professional PR firm to drive public opinion in their favour.

Surely if they're whiter than white & have actively tried to assist the football club at every turn as they keep claiming then their actions would have had everyone on side anyway?
 
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