OK, so CCFC couldn't afford or didn't want to take the option
or did this option never exist?
or is Ann Lucas stretching the truth?
higgs half still for sale (5 Viewers)
- Thread starter letsallsingtogether
- Start date
OK, so CCFC couldn't afford or didn't want to take the option
or did this option never exist?
or is Ann Lucas stretching the truth?
Grendel
Well-Known Member
The council circumvented the legal obligation by buying the share for £5.5 million and then transferring to wasps - if the news feeds are to be believed.
Brighton Sky Blue
Well-Known Member
The option rested with CCFC Ltd which was supposed to have been liquidated long before now. It was also not an option on the right to buy the share I believe, but the right to have a price quoted.
Rather naughty from Ann Lucas - I will keep watching SSn and see if they run the interview again
Astute
Well-Known Member
Grendel
Well-Known Member
Incorrect. CCFC limited have yet to be liquidated so to circumvent a sisu bid they purchased themselves. Another obtuse fact.
Who purchased CCFC limited?
skybluetony176
Well-Known Member
Is the Higgs half still available or not? Just as I was getting out the car tonight I'm sure they said on CWR it was only for the councils share. I thought it was a slip of the tongue but I've just got in and read this thread. Very confusing. What CWR was saying is that there is to be a joint press conference tomorrow CCC/Wasps at the Ricoh at 10am. Maybe it will all become clear then.
letsallsingtogether
Well-Known Member
An Lucus did say that the offer was open to anyone and always has been Wasps were the only takers, Sisu apparently never even inquired take it how you want to but in all our meetings with Joy and Tim they have never ever made an offer so we are where we are.
They could have had an Arena with conference facilities for 20 million now they are going to get a sectional ground in North Warwickshire and pay 30 million for it doesn't add up however you look at it.
Sisu have shot themselves in the foot again!!!!
As for the Council they have now got rid of a noose around their necks so they have come out on top yet again sisu really are employing the wrong people.
They could have had an Arena with conference facilities for 20 million now they are going to get a sectional ground in North Warwickshire and pay 30 million for it doesn't add up however you look at it.
Sisu have shot themselves in the foot again!!!!
As for the Council they have now got rid of a noose around their necks so they have come out on top yet again sisu really are employing the wrong people.
Rusty Trombone
Well-Known Member
Whoever now owns the shares in ACL have come out on top, they've got a bargain. I think everyone else has lost.
letsallsingtogether
Well-Known Member
Well the council seem happy with it who am I to comment they obviously know more about it then me.
Ask me about house prices and renting them out I can help you their but Arenas are a bit out of my jurisdiction.
Ask me about house prices and renting them out I can help you their but Arenas are a bit out of my jurisdiction.
Rusty Trombone
Well-Known Member
Their happiness may be because they don't have to deal with all the hassle anymore, it's a bit easier to take that view when it's not your personal money at stake.
If the naming rights are due next year, which I believe is the case, that could be £10m plus back for ACL owners straight away.
Terry Gibson's perm
Well-Known Member
Will be interesting to see the naming rights value as I don't believe they will get anything like they got last time as it will be remembered by the fans as the Ricoh (is Bolton still the Reebok?) also if it's for ten years the club that will get more publicity are only going to be there for four of them and then it will only have a rugby team and it's small band of followers and the odd bit of tv publicity. The brown sides advertising the ground location may take a bit of time to come down as well.
Nick
Administrator
It is amazing when you watch match of the day or the football league show now and grounds have changed. Derby isn't pride park any more, Huddersfield seem to change theirs a lot,
duffer
Well-Known Member
Just thinking this naming rights thing through...
My suggestion is that they get a few tubs of white paint, and simplify it by selling to either Richard 'Ric' Keys, or the Information Commissioner's Office.
That red is a bit of a swine for bleeding through though. Better make it a couple of coats.
dongonzalos
Well-Known Member
If that is correct the charity got 3/4 of a million more than what SISU offered them.
stupot07
Well-Known Member
Incorrect, they offer £5m with the loan, £2m without the loan, as we know they have bought the loan.
You were adamant Higgs should get all their £6m investment back....how do you feel about them losing over £3m?
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dongonzalos
Well-Known Member
Incorrect, they offer £5m with the loan, £2m without the loan, as we know they have bought the loan.
You were adamant Higgs should get all their £6m investment back....how do you feel about them losing over £3m?
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Who are you referring to Wasps or SISU?
dongonzalos
Well-Known Member
Incorrect, they offer £5m with the loan, £2m without the loan, as we know they have bought the loan.
You were adamant Higgs should get all their £6m investment back....how do you feel about them losing over £3m?
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I was always adamant they shouldn't get screwed over.
If they accept a bid and are happy about then they are not screwed over.
Did they just end up with exactly the 2 million that SISU offered them?
stupot07
Well-Known Member
No a little bit more but they could've negotiated further.
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dongonzalos
Well-Known Member
No a little bit more but they could've negotiated further.
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So was he right that they got 2.7 million?
Rusty Trombone
Well-Known Member
No a little bit more but they could've negotiated further.
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Weren't all the SISU offers based on getting a discount on the loan that was never going to be accepted by the bank?
stupot07
Well-Known Member
Who is right?
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Grendel
Well-Known Member
No it seems they got the full amount -- I assume they insisted on it or wouldn't surrender the share.
The council get -- ahem -- £4,000 a year for the next 250 years.
dongonzalos
Well-Known Member
Simon Gilbert @TheSimonGilbert
Higgs Charity set to receive around £3m of £6.5m investment in ACL made in 2003
Higgs Charity set to receive around £3m of £6.5m investment in ACL made in 2003
stupot07
Well-Known Member
iIRC the £5.5m was based on them buying the loan back from YB at a discount, but the £2m offer was made after the loan had been refinanced. To be honest my memory is a bit fuzzy.
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Grendel
Well-Known Member
I think Simon is out the loop
stupot07
Well-Known Member
And to think they told the court 6 months ago that they valued it at £7.5m. We've been well and truly screwed over.
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dongonzalos
Well-Known Member
Who is right?
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The post you replied to on me saying incorrect re-read it.
I said if that info is correct, they got 3/4 million more than SISU offered them
stupot07
Well-Known Member
But the £2m offer was without buying the loan, wasps have bought the loan. Sisu offered £5,5m if they also bought the loan. OSB can you remember the detail?
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Terry Gibson's perm
Well-Known Member
Don't watch either show as I can stand the presenters! The names seem to change but the original sticks in the memory. Bolton play at the Macron stadium whatever that is
Grendel
Well-Known Member
The council sold their share for £4,000 a year according to BBC
dongonzalos
Well-Known Member
iIRC the £5.5m was based on them buying the loan back from YB at a discount, but the £2m offer was made after the loan had been refinanced. To be honest my memory is a bit fuzzy.
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They said in court they offered 2 million for 'something that was worthless because the Higgs are a charity'
Wasps must be more charitable