Wasps takeover bid could be agreed in private (1 Viewer)

[Covstu]

Not sure why it's got to be debated in private. What is there to hide from the public?

Probably the fact that the deal wouldnt be a million miles off what SISU offered.....

 

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[Sky Blue Dal]

Perhaps it's not the ailing business that SISU have tried to convince the courts and us it is and Wasps can see how this will contribute to their finances away from Rugby matches giving them a springboard to push their club forward. Just a shame our owners dont share that vision, we might not be where we are now if they did. We as fans should all be angry about that too and that's not something we can blame ACL, Higgs, CCC, CET or the Judge for.

Our owners never had a vision.. the only vision they had was acting like Dick Turpin.

 

[torchomatic]

Didn't Fisher say on our return that the only option was a new stadium as ACL had made it clear that there was no deal to be made?

Probably the fact that the deal wouldnt be a million miles off what SISU offered.....

 

[Covstu]

There is nothing unusual about commercial business deals being done secretly. Can't see why everyone is banging on about that.

That said I do agree that the Council voting should be visible as it is in the public interest. The same public who voted some of the councillors in. Keeping the council vote secret is unacceptable as we the voters have a right to know how councillors voted on this issue.

I agree the process itself needs to be confidential, what do people expect - all voting on a Thursday night at the Casino?

The outcome should be a matter of public disclosure which i no doubt it will be.

As for Wasps - It would make no sense that they would buy 90% stake to use it for European games only, unless they see it as a cash cow and platform for bigger things down the line.

 

[M&B Stand]

Probably the fact that the deal wouldnt be a million miles off what SISU offered.....

The football club always pays a premium, from Leicester u21's to womens netball, the deal has never been equal.

Not that ACL milked the club or owt.

 

[Covstu]

Didn't Fisher say on our return that the only option was a new stadium as ACL had made it clear that there was no deal to be made?

very much doubt we would have returned back if the deal was dead in the water completely. The question is IF this deal goes through, could we be homeless again?? (big IF in my opinion). I know are owners are as dodgy as they come but this move not only threatens the football club but the rugby club also, big decision to make!

 

[Limey]

Didn't Fisher say on our return that the only option was a new stadium as ACL had made it clear that there was no deal to be made?

I believe so, in as many words, which is why they cannot remain silent over these reports.

Either 1. They are in talks or 2. They have no interest in ever parting with money to secure our long term future (I include new ground in that). 2 year plan to get promoted then ditch us?

 

[Monners]

What if the deal is for Wasps to own majority share, with Sisu selling on Otium (CCFC) to new owner, with this owner paying peppercorn rent for tenancy in perpetuity to Wasps with fare share of F&B, sponsorship etc.... How would we all feel about that?

Welcome to my Friday World of fantasy

 

[chiefdave]

As for Wasps - It would make no sense that they would buy 90% stake to use it for European games only, unless they see it as a cash cow and platform for bigger things down the line.

It seems to do a decent amount of business and seems to be improving. With the station in the pipeline its not too much of a stretch that someone would see it as a decent investment and if they do then buying at a time where there is uncertainly with the status of us playing there and the JR appeal could mean they can get a better than usual price. Would be somewhat ironic if SISU's campaign of distressing ACL ended up with someone else buying it on the cheap.

It's always been a danger with their plan, if it had ever worked it was reliant on no other party being interested.

 

[TheParsonsHose]

Why should they conduct any sale or talks in public!

 

[Otis]

There is nothing unusual about commercial business deals being done secretly. Can't see why everyone is banging on about that.

That said I do agree that the Council voting should be visible as it is in the public interest. The same public who voted some of the councillors in. Keeping the council vote secret is unacceptable as we the voters have a right to know how councillors voted on this issue.

I don't see the issue either to be honest. A lot of commercial business deals are done in private. We do need to know the basics however and how any deal would impinge on CCFC and Cov RFC.

We need to know if they form part of the deal or not. Monetary matters and degrees of percentages involved etc. could remain private until any deal was thrashed out.

I don't like the franchise idea at all in sports, but if it is going to happen then we need to lobby our local MP's and council to ensure they do the right thing for Coventry City and Cov Rugby club.

That surely has to be right at the top of CCC's priorities.

Meanwhile, we could all of course support Wasps fans from their end, as they all seem to be in unison over a permanent move here.

Now I know this may open a can of worms, but just wondering if anyone feels strongly enough on the matter of no franchising, that it would result in them boycotting City games, even if the Sky Blues and Cov rugby formed part of the deal and City remained at the Ricoh?

Is there the chance that we could disenfranchise (sorry) more fans as a result of City staying here, but Wasps also coming in?

I would be opposed to a franchise in theory, but if CCFC and Cov RFC did okay out of the deal I wouldn't be protesting to any great degree. Sorry, but I have to be honest here and while not wanting Wasps here, if City stayed and Cov RFC weren't badly hit by it, I just don't feel I could put in the degree of opposition I might otherwise have wanted.

Coventry City first, then best for Coventry and Cov rugby, then Wasps fans. Has to be that order or priority for me.

 

[Sky Blue Dal]

I believe so, in as many words, which is why they cannot remain silent over these reports.

Either 1. They are in talks or 2. They have no interest in ever parting with money to secure our long term future (I include new ground in that). 2 year plan to get promoted then ditch us?

There plan since they came onboard has always been to smash and grab then ditch us. Football was never there interest.

That's what I find sad and anger about our predicament.

 

[Sky Blue Dal]

I don't see the issue either to be honest. A lot of commercial business deals are done in private. We do need to know the basics however and how any deal would impinge on CCFC and Cov RFC.

We need to know if they form part of the deal or not. Monetary matters and degrees of percentages involved etc. could remain private until any deal was thrashed out.

I don't like the franchise idea at all in sports, but if it is going to happen then we need to lobby our local MP's and council to ensure they do the right thing for Coventry City and Cov Rugby club.

That surely has to be right at the top of CCC's priorities.

Meanwhile, we could all of course support Wasps fans from their end, as they all seem to be in unison over a permanent move here.

Now I know this may open a can of worms, but just wondering if anyone feels strongly enough on the matter of no franchising, that it would result in them boycotting City games, even if the Sky Blues and Cov rugby formed part of the deal and City remained at the Ricoh?

Is there the chance that we could disenfranchise (sorry) more fans as a result of City staying here, but Wasps also coming in?

I would be opposed to a franchise in theory, but if CCFC and Cov RFC did okay out of the deal I wouldn't be protesting to any great degree. Have to be honest here and while not wanting Wasps here, if City stayed and Cov RFC weren't badly hit by it, I just don't feel I could put in the degree of opposition I might otherwise have liked.

I agree. The only concern I have of this deal going through is the position of CCFC's future associated with the Ricoh and also Cov RFU. I would be fully against it if the fans of Cov RFU and the Wasp were up in arms and protested against it like we did with Sixfields move.

If they are not making themselves heard then how are we in a position to show them solidarity.

So far haven't seen any major protest in any of there camps.

 

[Otis]

I agree. The only concern I have of this deal going through is the position of CCFC's future associated with the Ricoh and also Cov RFU. I would be fully against it if the fans of Cov RFU and the Wasp were up in arms and protested against it like we did with Sixfields move.

If they are not making themselves heard then how are we in a position to show them solidarity.

So far haven't seen any major protest in any of there camps.

Maybe like us, they are waiting to find out more about the deal and what exactly is propsed.

 

[Covstu]

I don't see the issue either to be honest. A lot of commercial business deals are done in private. We do need to know the basics however and how any deal would impinge on CCFC and Cov RFC.

We need to know if they form part of the deal or not. Monetary matters and degrees of percentages involved etc. could remain private until any deal was thrashed out.

I don't like the franchise idea at all in sports, but if it is going to happen then we need to lobby our local MP's and council to ensure they do the right thing for Coventry City and Cov Rugby club.

That surely has to be right at the top of CCC's priorities.

Meanwhile, we could all of course support Wasps fans from their end, as they all seem to be in unison over a permanent move here.

Now I know this may open a can of worms, but just wondering if anyone feels strongly enough on the matter of no franchising, that it would result in them boycotting City games, even if the Sky Blues and Cov rugby formed part of the deal and City remained at the Ricoh?

Is there the chance that we could disenfranchise (sorry) more fans as a result of City staying here, but Wasps also coming in?

I would be opposed to a franchise in theory, but if CCFC and Cov RFC did okay out of the deal I wouldn't be protesting to any great degree. Sorry, but I have to be honest here and while not wanting Wasps here, if City stayed and Cov RFC weren't badly hit by it, I just don't feel I could put in the degree of opposition I might otherwise have wanted.

Coventry City first, then best for Coventry and Cov rugby, then Wasps fans. Has to be that order or priority for me.

I think the concern is that the football or Rugby club isnt the top of the priority list for CCC. I dont think they can see past our owners which i dont disagree that they are bastards but unfortunately we need to see past that and they need to understand that its the clubs history at stake here along with the Rugby club rather than maximising the money invested.

 

[Sky Blue Dal]

Maybe like us, they are waiting to find out more about the deal and what exactly is propsed.

you probably right. I say if there fans are not happy we should re-consider the offer.

 

[Covstu]

It seems to do a decent amount of business and seems to be improving. With the station in the pipeline its not too much of a stretch that someone would see it as a decent investment and if they do then buying at a time where there is uncertainly with the status of us playing there and the JR appeal could mean they can get a better than usual price. Would be somewhat ironic if SISU's campaign of distressing ACL ended up with someone else buying it on the cheap.

It's always been a danger with their plan, if it had ever worked it was reliant on no other party being interested.

Agree but its weird how CCC are quite desperate to sell it off if it is making money though dont you think? Clearly the £14M bail out was an alarmcall that this maybe isnt as lucrative as ACL are clearing making this out to be. I think one thing is for sure, that if Wasps are looking for an investment piece and use the ground on big occasions they are probably relying on us still to be tenants to make up the weekly balance.

 

[Sky Blue Dal]

Agree but its weird how CCC are quite desperate to sell it off if it is making money though dont you think? Clearly the £14M bail out was an alarmcall that this maybe isnt as lucrative as ACL are clearing making this out to be. I think one thing is for sure, that if Wasps are looking for an investment piece and use the ground on big occasions they are probably relying on us still to be tenants to make up the weekly balance.

I think CCC plans when the stadium was built was to only hold onto it for short term and then sell it off to the club and to allow them to concentrate on other business investments in the city.

It's just that SISU come along with no real appetite to do a reasonable deal and hence them having to hold onto it longer than expected. The 14m bail out might have accelerated this Wasp deal too.

The stadium for the CCC had become an obstacle to allow them to concentrate on other ventures in the city.

 

[skybluetony176]

Maybe like us, they are waiting to find out more about the deal and what exactly is propsed.

If the deal is being done in secret won't the deal be done by the time anyone outside the deal finds out? That will be too late won't it?

 

[Otis]

If the deal is being done in secret won't the deal be done by the time anyone outside the deal finds out? That will be too late won't it?

The negotiations will obviously be secret, but I don't see why they cannot release the basics of what the deal involves.

Let's say for instance you are a City fan and Coventrarian that only cares about CCFC and Cov RFC and what is best for them. You're not interested in Wasps and are indifferent to franchising. How then could you protest against this deal if you don't know whether the deal includes provision for the Sky Blues and Cov rugby?

If it is all done in private and CCFC and Cov rugby both lose out from the deal there would surely be all hell to pay.

 

[Ian1779]

So the council selling their share of a company should not be a matter of public record? Honestly, some of you are embarrassing.

Spending £14m wasn't worthy of some minutes either.

 

[Sky Blue Dal]

The negotiations will obviously be secret, but I don't see why they cannot release the basics of what the deal involves.

Let's say for instance you are a City fan and Coventrarian that only cares about CCFC and Cov RFC and what is best for them. You're not interested in Wasps and are indifferent to franchising. How then could you protest against this deal if you don't know whether the deal includes provision for the Sky Blues and Cov rugby?

If it is all done in private and CCFC and Cov rugby both lose out from the deal there would surely be all hell to pay.

and to add it would not be in the best interest of both parties do that either.

 

[Monners]

The negotiations will obviously be secret, but I don't see why they cannot release the basics of what the deal involves.

Let's say for instance you are a City fan and Coventrarian that only cares about CCFC and Cov RFC and what is best for them. You're not interested in Wasps and are indifferent to franchising. How then could you protest against this deal if you don't know whether the deal includes provision for the Sky Blues and Cov rugby?

If it is all done in private and CCFC and Cov rugby both loseout on the deal there would surely be all hell to pay.

This is my train of thought also - surely CCFC (at the very least, and hopefully CRFC) are part of this in some way. I don't agree with beaming a team in from elsewhere mind you. There are plenty over the last year or so who hold the view that as long as CCFC are ok then that's all that matters - and yet they seem not to agree either.

 

[Sky Blue Dal]

Spending £14m wasn't worthy of some minutes either.

What you on about???.. Minutes were taken during that meeting but you seem to confuse with what the Judge in the JR threw out SISU case have having access to individual councillors notes.

 

[davebart]

What almost everyone on this (and almost every other thread) fails to appreciate in their biased rantings is that CCFC will never own their own ground. SISU could/might and that is a very different proposition.

 

[Otis]

and to add it would not be in the best of both parties do that either.

I do think maybe we are all overreacting slightly.

The council have to do right by the city of Coventry. They represent the city and all its citzens. I'm not saying that it is impossible for them to do the dirty on CCFC and CRFC, but I honestly don't think they would dare screwing us both over.

I do think the rugby team may suffer the most here though and that would be a great shame if true.

 

[Sky Blue Dal]

What almost everyone on this (and almost every other thread) fails to appreciate in their biased rantings is that CCFC will never own their own ground. SISU could/might and that is a very different proposition.

Good point.

 

[Ian1779]

What you on about???.. Minutes were taken during that meeting but you seem to confuse with what the Judge in the JR threw out SISU case have having access to individual councillors notes.

OK then... where are they? Has anyone ever seen them??

 

[Ian1779]

Good point.

There is a significant amount of clubs where the ground is owned by a 'holding' company, not actually by the club itself - a notable one being Arsenal. This is what would happen in our case most likely.

It is a moot point.

 

[PIPSQUEEK]

What about all these massive projected profits that ACL were to realise in the upcoming few years that they spouted on about in the recent court case.....was it all bullshit then? Why do they suddenly need/want to sell?

I assume Wasps will have to buy the full £14.4m loan outright on top of any purchase price of ACL?

So sick of this now....& my position remains the same, however I have one addition.

Sisu = cunts.
ACL = cunts.
CCC = cunts.
FL = cunts.
Wasps = cunts.

Just remember some Cunts are useful

 

[oldfiver]

OK then... where are they? Has anyone ever seen them??

Well they must at least exist for the Judge to refuse access to them

 

[Ian1779]

Well they must at least exist for the Judge to refuse access to them

He refused access to councillors individual notes.

 

[Sky Blue Dal]

OK then... where are they? Has anyone ever seen them??

The judge has and I remember it was mentioned in the court transcript. Correct me if I am wrong

 

[oldfiver]

And the Council stepped in and virtually GAVE them the ground

 

[oldfiver]

What about all these massive projected profits that ACL were to realise in the upcoming few years that they spouted on about in the recent court case.....was it all bullshit then? Why do they suddenly need/want to sell?

I assume Wasps will have to buy the full £14.4m loan outright on top of any purchase price of ACL?

So sick of this now....& my position remains the same, however I have one addition.

Sisu = cunts.
ACL = cunts.
CCC = cunts.
FL = cunts.
Wasps = cunts.

You missed out the Council's leaky mouthpiece - Coventry Telegraph