higgs not prepared to sell (1 Viewer)

[skybluesam66]

lucas says this is the block

i thought this was the condition they got in in the first place

PWKH - is she telling the truth

 

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[chiefdave]

lucas says this is the block

i thought this was the condition they got in in the first place

PWKH - is she telling the truth

Did she say won't sell at any price, won't sell at a price that's been offered or have no need to sell?

Of course SISU had a right to purchase the Higgs stake at a preset price. If they had made that offer would Higgs have been able to refuse? That right disappeared when SISU liquidated the old ltd company so if it does turn out to be this that is the stumbling block is that going to, with hindsight, be the worst decision SISU have made?

 

[letsallsingtogether]

They are a charity for the citizens of Coventry not for a hedge-fund so pay the price or build your shed I know what I would do would cost less and give you a going concern with the ability to make your investment back.

 

[James Smith]

Did she say won't sell at any price, won't sell at a price that's been offered or have no need to sell?

Of course SISU had a right to purchase the Higgs stake at a preset price. If they had made that offer would Higgs have been able to refuse? That right disappeared when SISU liquidated the old ltd company so if it does turn out to be this that is the stumbling block is that going to, with hindsight, be the worst decision SISU have made?

Think that the Higgs would have to at least get their money back to stop the Charity Commission from hauling them over the coals.

 

[James Smith]

lucas says this is the block

i thought this was the condition they got in in the first place

PWKH - is she telling the truth

Maybe they are waiting for their costs from the last time to be paid before going anywhere near Sisu again.

 

[skybluesam66]

she specifically said higgs were not prepared to sell. She said ACL was council and Higgs
And while council may be prepared to sell at the right price- she did not believe Higgs were

 

[Astute]

she specifically said higgs were not prepared to sell. She said ACL was council and Higgs
And while council may be prepared to sell at the right price- she did not believe Higgs were

Why would Higgs want to waste more charity money on the hot air that comes from SISUE?

 

[Skyblueweeman]

Astute, can we not call them SISU? It's like we're in a playground or something....

WM

 

[The Gentleman]

Astute, can we not call them SISU? It's like we're in a playground or something....

WM

Are you really offended by this, considering what goes on and is said on this forum and in the wider world? I mean, it's not really that wide of the mark is it?

 

[fernandopartridge]

Are you really offended by this, considering what goes on and is said on this forum and in the wider world? I mean, it's not really that wide of the mark is it?

No, it's just cringeworthy

 

[The Gentleman]

No, it's just cringeworthy

Why though, I couldn't care less if someone came up with wording for ACL or CCC just the same as when someone say's SISUE. I think people need to look at other more pressing issues rather than getting hung up about the word SISUE. I didn't see anyone moaning when there was a thread dedicated to Labiabitch, thought it was quite amusing in fact.

 

[shmmeee]

No, it's just cringeworthy

If you cringe at someone making a bad pun I suggest you seek help.

Since when were you the style police? Everyone must post in a manner that you find acceptable.

I find the teenage obsession with "cringeworthiness" pretty pathetic, but each to their own.

 

[chiefdave]

she specifically said higgs were not prepared to sell. She said ACL was council and Higgs And while council may be prepared to sell at the right price- she did not believe Higgs were

Hopefully PWKH will give some clarification of their stance. Would like to know if its a case of they won't sell to SISU, won't sell to SISU until debt is paid, won't sell to anyone or something else.

Before SISU liquidated the old Ltd co and they had the right to purchase the 50% share Higgs own at the formula price could Higgs have done anything to stop that or was it just the council who had the power of veto?

 

[James Smith]

she specifically said higgs were not prepared to sell. She said ACL was council and Higgs
And while council may be prepared to sell at the right price- she did not believe Higgs were

Can anyone post a verbatim transcript of what she said regarding this because the more I've thought about it the less likely it sounds.

 

[chiefdave]

Can anyone post a verbatim transcript of what she said regarding this because the more I've thought about it the less likely it sounds.

Will be up on iplayer at some point today I would imagine.

 

[James Smith]

Will be up on iplayer at some point today I would imagine.

Will have to wait until I get home then as I don't have my tablet with me today.

 

[skybluesam66]

Can anyone post a verbatim transcript of what she said regarding this because the more I've thought about it the less likely it sounds.

quote "unincumbent freehold is not for sale- sitting tenant has 40 years with contracts"
sitting tenants are ACL
50% council and 50% higgs

half of council and half of charity
you would need to talk to them but as I understand it they are not prepared to sell


http://www.bbc.co.uk/programmes/p01npkzx

around about 1.11

 

[Specs WT-R75]

quote "unincumbent freehold is not for sale- sitting tenant has 40 years with contracts"
sitting tenants are ACL
50% council and 50% higgs

half of council and half of charity
you would need to talk to them but as I understand it they are not prepared to sell


http://www.bbc.co.uk/programmes/p01npkzx

around about 1.11

Okay... which implies maybe the council are prepared to sell their 50%...

 

[OyJimmy]

Okay... which implies maybe the council are prepared to sell their 50%...

Yes but don't Higgs have the power of Veto

 

[mattylad]

Its very simple, if you want to run the stadium you have to take over or remove the vehicle that is in place to run the stadium and that means gain an agreement with ACL. Even if SISU did a deal for the freehold then the football club would still have to resolve the issue surrounding ACL it doesnt just go away.

 

[Grendel]

Can anyone post a verbatim transcript of what she said regarding this because the more I've thought about it the less likely it sounds.

She said that Higgs she believed were not prepared to sell their share. This effectively blocks the sale of ACL. Given, I assume, ACL hold some stadium revenues it makes the sale of anything of note pretty unlikely.

 

[OyJimmy]

She said that Higgs she believed were not prepared to sell their share. This effectively blocks the sale of ACL. Given, I assume, ACL hold some stadium revenues it makes the sale of anything of note pretty unlikely.

For once I agree

 

[Paxman II]

I think we would need to see the terms of the original 40 year lease before assuming anything.

 

[Astute]

She said that Higgs she believed were not prepared to sell their share. This effectively blocks the sale of ACL. Given, I assume, ACL hold some stadium revenues it makes the sale of anything of note pretty unlikely.

If Higgs were unwilling to sell why do SISUE owe them 27k for the legal bill as agreed by them before the talks that SISUE changed their minds on?

 

[Grendel]

If Higgs were unwilling to sell why do SISUE owe them 27k for the legal bill as agreed by them before the talks that SISUE changed their minds on?

Ask Anne Lucas. Is the £27,000 the amount owed after the administration?

 

[DazzleTommyDazzle]

Ask Anne Lucas. Is the £27,000 the amount owed after the administration?

As I recall, it was legal fees incurred by Higgs re a proposed sale of their share of ACL to SISU that SISU apparently promised to refund to Higgs if they didn't go through with the purchase.

 

[mrtickle]

Just feel we will never go back. Council appear happy to cut their nose off to spite their face. I can see the holding onto Ricoh even if it looses money hand over fist rather than sell to sisu.

 

[Mary_Mungo_Midge]

lucas says this is the block

i thought this was the condition they got in in the first place

PWKH - is she telling the truth

Sorry to use the same response in two threads, but....

It was. I revert you to late 2012. To quote PWKH: 'The Charity’s position is clear. If and when there is a sensible offer from a potential purchaser the Trustees will sell'

 

[Grendel]

Sorry to use the same response in two threads, but....

It was. I revert you to late 2012. To quote PWKH: 'The Charity’s position is clear. If and when there is a sensible offer from a potential purchaser the Trustees will sell'

She clearly implied Higgs would be a stumbling block to selling on sisu's terms.

 

[Mary_Mungo_Midge]

She clearly implied Higgs would be a stumbling block to selling on sisu's terms.

An implication is one thing. Who knows, their position might have changed? One thing is certain, as above, it was once fully on the table and the subject of negotiation.

What I can say though, is that imagine a compromise situation was arrived at. SISU agree the long-leasehold arrangement I have mentioned, and the Higgs share is the stumbling block. All the crap about freeholds and community assets being sold on the cheap are moved to one side. In the face of overwhelming public opinion - and being receipt of a 'fair offer', there's no way I could see the Higg charity blowing the whole thing out of the water. And if they did, their credibility would be zero. And rightfully so.

So, why don't SISU negotiate us to that position and see?

 

[shmmeee]

We need PWKH in here.

Didn't he say before something about refusing to talk to Sisu until the legal bills are paid. Maybe that's the hitch?

 

[oldskyblue58]

Not sure that is what AL meant ..... I took it to mean that she didn't know if the Charity wanted to sell or not. Certainly in the past it is clear that they were open to the idea having entered in to negotiations in mid 2012. I didn't take it that she knew that the Charity would reject any sale and were therefore an obstacle.

One thing I am asking myself ....... is there something that has happened that we do not know about regarding the Charity and SISU that would make them take an entirely negative attitude to a sale to SISU. The outstanding costs not being paid from the first negotiation surely wouldn't stop a deal would they? that's not insurmountable is it?

Think people should be clear about those first talks they were not on the basis of the option agreement...... the option could not be activated whilst the club were in arrears to ACL.