Council meeting for Mark and I (27 Viewers)

[Sky Blue Pete]

Coventry


If all parties want CCFC to play in Coventry then what's the hold up?

The 6 million dollar question. Everything you’ve read in public statements and the issues as they’ve been outlined on here.

with my three year old head it’s just about talking till you agree

with my 48 year old head it requires people to move from their hurt and legitimate grievances and reach out and believe things can be different

 

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[Philosoraptor]

The 6 million dollar question. Everything you’ve read in public statements and the issues as they’ve been outlined on here.

with my three year old head it’s just about talking till you agree

with my 48 year old head it requires people to move from their hurt and legitimate grievances and reach out and believe things can be different

Coventry: City of Culture. My ass...

I cant see how CCC can run this business event with a straight face. It's a complete joke.

 

[Sky Blue Pete]

Coventry: City of Culture. My ass...

I cant see how CCC can run this business event with a straight face. It's a complete joke.

It would be disastrous for the city if the club wasn’t playing in coventry

 

[Philosoraptor]

It would be disastrous for the city if the club wasn’t playing in coventry

And this is where the cookie crumbles.

What really would be devastating is for people to start publicly removing their support for this business event because of current events.

 

[Nick]

So what's been said by them all?

 

[shmmeee]

And this is where the cookie crumbles.

What really would be devastating is for people to start publicly removing their support for this business event because of current events.

Not one penny more?

 

[Kneeza]

Remember Ian Hindle ? I remember him scoring two points at one meeting.

All long blond hair and white leathers. And not much cop to be honest. Nice lad though, but didn't stay long.

 

[Sky Blue Pete]

So what's been said by them all?

All of who?

 

[Nick]

All of who?

Derek Richardson, Joy etc today?

Anybody willing to get around the table?

 

[shmmeee]

Pete or Mark: have you ever asked either Wasps or Sisu why negotiations started up again if nothing had changed? Always confused me that.

 

[Sky Blue Pete]

Derek Richardson, Joy etc today?

Anybody willing to get around the table?

I’m really hopeful

 

[Sky Blue Pete]

Pete or Mark: have you ever asked either Wasps or Sisu why negotiations started up again if nothing had changed? Always confused me that.

It’s a really good question. Genuinely negotiations in good faith but like yesterday’s conversations the same challenges were there as In the previous year.

hence why we were discussing what we were talking about last night

 

[mark82]

Pete or Mark: have you ever asked either Wasps or Sisu why negotiations started up again if nothing had changed? Always confused me that.

I guess the hope was that they could find compromise. I think there is compromise there somewhere, but both sides need to move their position a little.

 

[mark82]

I think there's hope still. Whether something can be sorted for this season, who knows.

 

[Broken Hearted Sky Blue]

Pete or Mark next time you speak to JS or DR can you ask one of them whether they have actually ever met. These two are the only ones that can sort this mess out.

 

[Sky Blue Pete]

Pete or Mark next time you speak to JS or DR can you ask one of them whether they have actually ever met. These two are the only ones that can sort this mess out.

We have asked both. They have met not certain in what way in the last series of negotiations though

 

[Deleted member 5849]

We have asked both. They have met.

In a Travelodge, Hilton, or a weekend break in the Quantocks?

 

[Frostie]

Pete or Mark next time you speak to JS or DR can you ask one of them whether they have actually ever met.

Conspiracy theory that they're really one & the same person?

 

[Sky Blue Pete]

Conspiracy theory that they're really one & the same person?

Me and mark or joy and Derek

 

[Somerset Sky Blue]

In a Travelodge, Hilton, or a weekend break in the Quantocks?

I haven't seen them at the quantocks...maybe coombe abbey?

 

[mr_monkey]

In a Travelodge, Hilton, or a weekend break in the Quantocks?

What would either of them do for a little bit of crack to just take the edge off

 

[stupot07]

Wasps bought the lease for 18.4m in the original deal as part of the share price then extended for 1m. Sisu are saying the value to ccc with no anchor tenant immediately before sale was 28m more than that at 47m.

Wasps then got it valued at 48m in May 2015 with wasps rugby as the anchor tenant.

I think its really important to separate the loan from the purchase of ACL. They are 2 separated and distinct things. I appreciate this may not be the case in clever accounting rules, but it is the facts that sisu are challenging CCC through EU complaint. The loan was am existing liability of ACLs. In order to buy the shares they paid £5.5m to the existing share holders, and then 1m 5o ccc to extend the lease.

Sent from my SM-G965F using Tapatalk

 

[Nick]

Wasps bought the lease for 18.4m in the original deal as part of the share price then extended for 1m. Sisu are saying the value to ccc with no anchor tenant immediately before sale was 28m more than that at 47m.

Wasps then got it valued at 48m in May 2015 with wasps rugby as the anchor tenant.

Did they really pay that for it? I think you know they didn't.....

 

[skybluepm2]

Bugger!!!! Most of its ok and clear it’s just at the end I got carried away lol

spoke really well Pete, loved listening to that. Especially the passion at the end when you let loose!

 

[tisza]

The 6 million dollar question. Everything you’ve read in public statements and the issues as they’ve been outlined on here.

with my three year old head it’s just about talking till you agree

with my 48 year old head it requires people to move from their hurt and legitimate grievances and reach out and believe things can be different

They were supposedly so close to an acceptable commercial deal for both sides last year.
Having spoken to both sides did it really collapse over just this single issue of an "indemnity"? One side says there was one, the other not , so is one side not being honest?

 

[oldskyblue58]

I think its really important to separate the loan from the purchase of ACL. They are 2 separated and distinct things. I appreciate this may not be the case in clever accounting rules, but it is the facts that sisu are challenging CCC through EU complaint. The loan was am existing liability of ACLs. In order to buy the shares they paid £5.5m to the existing share holders, and then 1m 5o ccc to extend the lease.

Sent from my SM-G965F using Tapatalk

Except the loan forms an integral part of the share valuation at the sale date so it cannot be ignored if sisu are challenging the sale value of the ccc shares. Not about clever accounting. The repayment might be a separate event but the loan cannot be ignored

The list I put up was a timeline nothing more. It is also reasonable to assume that if the lease extension was discussed so too would the loan repayment. But thats an opinion

Ccc were repaid but the indebtedness of acl remains because that company now owes part of the bond

I have asked the question before. What exactly is the detail of the complaint? If it is simply the value of the extension then no need to discuss share value or loan. However if the share value is challenged then you cannot ignore the loan because lease and loan are part of what was used to arrive at that value.

As far as i am aware no one has seen the detail of the complaint

 

[Sky Blue Pete]

They were supposedly so close to an acceptable commercial deal for both sides last year.
Having spoken to both sides did it really collapse over just this single issue of an "indemnity"? One side says there was one, the other not , so is one side not being honest?

I really don’t know about honesty and maybe I’m just too bloody stupid and naive.

Maybe money is more important than anything else and money will win

The love of money is the root of all evil some wise person once said and this whole situation needs to not be about money. easy for me it’s not my money

 

[Sky Blue Pete]

Except the loan forms an integral part of the share valuation at the sale date so it cannot be ignored if sisu are challenging the sale value of the ccc shares. Not about clever accounting. The repayment might be a separate event but the loan cannot be ignored

The list I put up was a timeline nothing more. It is also reasonable to assume that if the lease extension was discussed so too would the loan repayment.

Ccc were repaid but the indebtedness of acl remains because that company now owes part of the bond

I have asked the question before. What exactly is the detail of the complaint? If it is simply the value of the extension then no need to discuss share value or loan. However if the share value is challenged then you cannot ignore the loan because lease and loan are part of what was used to arrive at that value.

As far as i am aware no one has seen the detail of the complaint

The council will have and Sisu know what was in it

 

[oldskyblue58]

The council will have and Sisu know what was in it

But we don't Pete so we cannot make assumptions as to what can and cannot be included. Can only put up the timelines as facts the rest including my musings is conjecture and opinion

 

[oldskyblue58]

Did they really pay that for it? I think you know they didn't.....

The accounts of acl show the lease extension purchase

The wasps group accounts show the extension purchase in the group assets (which includes acl) note and a payment on the group cash flow statement £1m

The original lease formed part of the share sale value that was paid

 

[tisza]

But we don't Pete so we cannot make assumptions as to what can and cannot be included. Can only put up the timelines as facts the rest including my musings is conjecture and opinion

technically an FOI can be made to European Commission but how quickly they'd respond who knows. Regulation (EC) No 1049/2001 of 30 May 2001

 

[Sky Blue Pete]

But we don't Pete so we cannot make assumptions as to what can and cannot be included. Can only put up the timelines as facts the rest including my musings is conjecture and opinion

Course. Have you asked and not been given the information. My working assumption has always been it’s an undervaluing of the extended lease

 

[Nick]

The accounts of acl show the lease extension purchase

The wasps group accounts show the extension purchase in the group assets (which includes acl) note and a payment on the group cash flow statement £1m

The original lease formed part of the share sale value that was paid

I meant the actual purchase price....

 

[MalcSB]

Coventry: City of Culture. My ass...

I cant see how CCC can run this business event with a straight face. It's a complete joke.

Well, they managed it for city of sport.

 

[Sky Blue Pete]

Well, they managed it for city of sport.

Yeah they’ll make do and it won’t be as good without the biggest sporting club in the area being a full part of it