Grendel
Well-Known Member
No its definately not £30 million -- read between the lines very carefully.
Wasps bid for Ricoh Arena valued at £30million (11 Viewers)
- Thread starter SimonGilbert
- Start date
No its definately not £30 million -- read between the lines very carefully.
Kingokings204
Well-Known Member
Kingokings204
Well-Known Member
It won't
dongonzalos
Well-Known Member
I did and was just about to write to Simon asking for clarity as IMO that should ride above the council.
The charity better get more than the 2 million SISU were offering them.
But then Simon replied to another poster saying they don't know the detail.
Kingokings204
Well-Known Member
Can anyone (OSB best shout) explain how much this 90% is selling for? We have talked for ages about how much 50% is and 100%.
I can't believe its 30m as they quote as then 100% would be around 35m for all of acl. That isn't right. It was worth around 12m last we heard.
Can anyone in the words of RFC help?
I can't believe its 30m as they quote as then 100% would be around 35m for all of acl. That isn't right. It was worth around 12m last we heard.
Can anyone in the words of RFC help?
Nick
Administrator
It would be good to know how much money would actually be changing hands. It is all complicated though isn't it
People can package things up however they want them to look can't they but until you see the deal you don't know the true story.
Rusty Trombone
Well-Known Member
Threatening to reveal their internet history usually works.
Nick
Administrator
Don't say that, the traffic would be cut on here by loads if council people couldn't come on
Kingokings204
Well-Known Member
So fregion confusing? Wiping out £1m of debt of the 14.4m loan in a deal worth £30m for 90%? But this includes naming rights?
Arrrgggghhhhh never easy is it
Arrrgggghhhhh never easy is it
dongonzalos
Well-Known Member
Whips, sometimes you get told toe the party line or else. It's for the greater good. They get loads of pressure.
Like at work where you sometimes do something you don't personally agree with. However you know life will become very uncomfortable for you if you rebel.
Is my understanding.
dongonzalos
Well-Known Member
It will
Nick
Administrator
Ah, I see man driving a german whip.
Surely it would say something about this deal if people have to be pressured into agreeing? If it was that good everybody would agree wouldn't they?
oldskyblue58
CCFC Finance Director
Right now this is not good news for CCFC,
it doesn't guarantee SISU leaving
it creates uncertainty for fans club and team and we all know that could affect results
anyone coming in if indeed there is anyone or the plug not simply pulled will have to deal with SISU and the loans already there
if there is an insolvency event then that will mean relegation
If I were SISU I wouldn't be putting another penny in and drawing out what I can
with no real plan for the future how do accounts get signed off - which means embargo or worse
Someone could get CCFC on the cheap yes but they have to have tenure at the Ricoh or somewhere to make it worth while
The news will affect current attendances further I suspect certainly likely to affect CCFC income and player options I would think
etc etc
There are potential opportunities there but ................ good news for CCFC right now no it isnt
it doesn't guarantee SISU leaving
it creates uncertainty for fans club and team and we all know that could affect results
anyone coming in if indeed there is anyone or the plug not simply pulled will have to deal with SISU and the loans already there
if there is an insolvency event then that will mean relegation
If I were SISU I wouldn't be putting another penny in and drawing out what I can
with no real plan for the future how do accounts get signed off - which means embargo or worse
Someone could get CCFC on the cheap yes but they have to have tenure at the Ricoh or somewhere to make it worth while
The news will affect current attendances further I suspect certainly likely to affect CCFC income and player options I would think
etc etc
There are potential opportunities there but ................ good news for CCFC right now no it isnt
Kingokings204
Well-Known Member
Here is one guess and it is a guess.
What about the 14.4 we know is wiped down to 13.4m and then the price of ACL on top of the debt and we know ACL as the judge said only a few months back acl is worth between 10-15m.
So it's 13.4 (debt) plus say 14m for ACL and that's your almost 30m package?
Lol sorry it's all that is shit
What about the 14.4 we know is wiped down to 13.4m and then the price of ACL on top of the debt and we know ACL as the judge said only a few months back acl is worth between 10-15m.
So it's 13.4 (debt) plus say 14m for ACL and that's your almost 30m package?
Lol sorry it's all that is shit
Grendel
Well-Known Member
I would guess £7 million with an agreement for next years sponsorship money to transfer to the Council. Or £17 million without.
The key though is the lease which I suspect has been massively extended which gives total ownership of the ground really.
Could be paid though in long term instalments which we will never know.
J
Jack Griffin
Guest
That is a bit of a step up from Joys offer of £0!!!!!!!!!!!!!!!!!!
Grendel
Well-Known Member
Agree its a disaster. What about the deal we agreed with ACL? Could the new owners buy that out and offer SISU the cash to terminate?
dongonzalos
Well-Known Member
I am assuming they take on the loan and buy 90% of ACL and the naming rights for around 30 million.
They will then make about 10 million in a years time?
Kingokings204
Well-Known Member
As Nick says we don't know the details regarding ccfc. In all wasps articles via the CT they hardly mention ccfc and when they do its nothing of note or certainty.
We just have to pray or hope they have been with sisu and making a deal to suit everyone. Surely?
One bit of good news is sisu and their silence I know for a fact TF would be blathering on about the Ricoh had they had no contact so here's hoping.
We just have to pray or hope they have been with sisu and making a deal to suit everyone. Surely?
One bit of good news is sisu and their silence I know for a fact TF would be blathering on about the Ricoh had they had no contact so here's hoping.
dongonzalos
Well-Known Member
The only way that would turn positive if the consortium were also targeting CCFC
Grendel
Well-Known Member
Is it? We don't know what the Council will give the Charity do we?
Kingokings204
Well-Known Member
Yes much more plausible than my theory. Making ACL worth around £10m for 100%. Give or take.
Flying Fokker
Well-Known Member
Someone holds a whip.
Nick
Administrator
German?
oldskyblue58
CCFC Finance Director
looking at gendels post above I think we would broadly be in agreement that it certainly is not £30m cash
I would expect
- a lease extension 99 years plus
- the loan remaining is £13.4 so I would think that makes up part of the £30m figure
- I would guess it will morph from the Ricoh arena to the Jaguar or JLR Arena - as old deal is running out what is that worth in the deal? anything?
- there are included apparently stadium improvements so that's what 2m or more - wont be cheap
- there is the £1m written off the loans
- CCC buying the shares from AEHC say for £7m (cost 6.5m originally) then reselling to Wasps consortium (back to back)
clear cash looks like it is what £7m or less....... of course there might be clauses about future incomes and purchase of the 10%
I would expect
- a lease extension 99 years plus
- the loan remaining is £13.4 so I would think that makes up part of the £30m figure
- I would guess it will morph from the Ricoh arena to the Jaguar or JLR Arena - as old deal is running out what is that worth in the deal? anything?
- there are included apparently stadium improvements so that's what 2m or more - wont be cheap
- there is the £1m written off the loans
- CCC buying the shares from AEHC say for £7m (cost 6.5m originally) then reselling to Wasps consortium (back to back)
clear cash looks like it is what £7m or less....... of course there might be clauses about future incomes and purchase of the 10%
dongonzalos
Well-Known Member
There is no way you would get every councillor to agree to a deal not to CCFC that also isn't supported by Cov Rugby club.
To convince every councillor to agree of their own accord.
They would need to prove that SISU would not match or come anywhere near the offer.
Agree a deal with SISU to build a new stadium in Coventry
Get an agreement from the consortium that a long term sustainable rent deal would be offered to CCFC.
That somehow the rugby club would be safeguarded and would act as a feeder club to wasps getting first dips on the local talent.
Even you would still get the odd dissenting councillor on a controversial decision.
There will be loads of pressure applied I think
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oldskyblue58
CCFC Finance Director
An extension of lease to 99yrs would be an important addition .............. that could leave the door open for a better long term deal for CCFC
Flying Fokker
Well-Known Member
Back to us talking anything but football. : )
dongonzalos
Well-Known Member
I still thing this story has a sting in its tail
dongonzalos
Well-Known Member
CCFC in the championship nearly breaking even on a 99 year deal then becomes sellable
Nick
Administrator
When SISU were throwing figures about were they talking with or without the loan? When they offered the £2million up front to Higgs or whatever it was?
Grendel
Well-Known Member
Why do you think the council are suddenly rushing to sell. Their stance has always been that they the business is stable and they would listen to offers but there is no urgency.
For a sale such as this it seems to be being rushed through - why?