Rusty Trombone
Well-Known Member
That's a PWKH quote in respect of looking for sponsors of the stadium if Ricoh pulled out, not the sale of ACL.
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That's a PWKH quote in respect of looking for sponsors of the stadium if Ricoh pulled out, not the sale of ACL.
Rusty Trombone
Well-Known Member
Dont surmise Nick. Rusty Trombone wants the whole quote and he wants it now!
Edit - Saved there is now a link to PWKH making the dastardly comment.
Except it shows that I was right to ask (wasn't demanding though).
Moff
Well-Known Member
I know. I was only joking...sometimes its the only thing that keeps me sane in my support for the CCFC basket case.
Rusty Trombone
Well-Known Member
I think this was based around Lucas saying the first time she met with Wasps was in July as that was when it was decided they were serious bidders. I would imagine the talks were going on well before then.
Neutral Fan
Member
SISU's possible route out of this is:
Approach the FL to say they can't continue in Coventry due to FFP rules and their lack of stadium, made worse by no available suitable land nearby.
Their only option : franchise CCFC to Brum or London and build their own development in a tax deductible business development regeneration scheme.
The FL, being strong and masterful, will agree to the franchise immediately. And will be consoled that CCFC supporters can watch RFC Franchise instead.
Approach the FL to say they can't continue in Coventry due to FFP rules and their lack of stadium, made worse by no available suitable land nearby.
Their only option : franchise CCFC to Brum or London and build their own development in a tax deductible business development regeneration scheme.
The FL, being strong and masterful, will agree to the franchise immediately. And will be consoled that CCFC supporters can watch RFC Franchise instead.
James Smith
Well-Known Member
Rusty Trombone
Well-Known Member
Or, they could carry on playing at the Ricoh after agreeing a long rent deal, thus ensuring higher crowds than they would in Birmingham or London, and save themselves requiring any land and building money. Just an idea though.
That was the same time I had that phone Call where they'd been told by TF that the deal would be announced In a couple of weeks and AEG would run the Stadium .
To me that suggests they were In the loop about this coming off in the near future.
So much has happened It's hard to keep track has anyone said anywhere that SISU hadn't /havn't already offered prior to this decision.
lordsummerisle
Well-Known Member
If Higgs were serious about offering their share to the club, then could do so without using the CCFC Ltd Option smokescreen.
It's one of those offers, that actually aren't offers at all.
It's one of those offers, that actually aren't offers at all.
davebart
Active Member
I am sure Appleton can do whatever he likes. He managed to sell a company with no apparent assets. If he wants 50% he could get it. Sorry Otium could. If the option was legally defunct someone would have said it by now.
I would also point out that SISU could by now own the entire ground. CCC and Higgs wanted them to have it. But somehow relationships soured to such an extent that they would rather sell to absolutely anyone else under any circumstances. We will probably never know why that was.
I would also point out that SISU could by now own the entire ground. CCC and Higgs wanted them to have it. But somehow relationships soured to such an extent that they would rather sell to absolutely anyone else under any circumstances. We will probably never know why that was.
James Smith
Well-Known Member
Can they before having offered it to Ltd. though, do we know that as a fact? Also it does underline how much Sisu must have annoyed them and how many dismissive statements about the Ricoh we've made that they've even considered selling to Wasps.
fernandopartridge
Well-Known Member
The fact they talk of CCFC Ltd rather than CCFC says it all. It's a fait accompli.
Nick
Administrator
Also underlines that they have probably been bullshitting all along about their love for the club etc etc. All in it for themselves.
J
Jack Griffin
Guest
I saw that, but the I thought that that strategy was vetoed at that time & dropped.
Soon after the chief exec at the time went, I guess he wasn't happy at his idea being blocked.
The recent deal has been said to be initiated by a more recent approach from Wasps, at least that is what has been stated in the media.
You may think that there has been contact all along & the story in the media is bull, but seriously we don't have any way of knowing what is & isn't true.
J
Jack Griffin
Guest
It is a possibility, but I think even the FL will not accept London, TBH I wouldn't be upset if it gets rid of SISU, we will rebuild from the ground up.
torchomatic
Well-Known Member
Yep, CCC/ACL were negotiating with Wasps at the same time as the "peace and reconciliation" talks in the Cathedral.
Nick
Administrator
It still doesn't solve the revenue / ground issue does it, with or without SISU
olderskyblue
Well-Known Member
The charity are "all in it for themselves" ?
Nick
Administrator
I think every party in this mess are in it for themselves, although the charity not so much.
James Smith
Well-Known Member
That's maybe just the legalese isn't it though, as Ltd is no longer legally anything to do with the club? If the option exists within the legal entity called CCFC Ltd then surely that's who has first dibs. The calling everything CCFC was (at least part of) the reason for the confusion over who held the Golden Share.
James Smith
Well-Known Member
Possibly although it wouldn't be the first thing I'd have thought of about them given their history. It probably doesn't help that we've been in Northampton until recently and saying that we don't want the Ricoh and plan A is the new stadium.
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J
Jack Griffin
Guest
So what do you propose as a solution?
stupot07
Well-Known Member
Borrowed from GMK.
compare "business is business" line to;;;;
https://bobainsworthmp.files.wordpress.co m/2013/07/football-league.pdf
"a move away from Cov would diminish the identity of the Football Club & impair its capacity to bring together the local community and foster a collective spirit"
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
compare "business is business" line to;;;;
https://bobainsworthmp.files.wordpress.co m/2013/07/football-league.pdf
"a move away from Cov would diminish the identity of the Football Club & impair its capacity to bring together the local community and foster a collective spirit"
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
Nick
Administrator
Whoever took us on would have to build their own or buy Wasps out. Would many do that?
J
Jack Griffin
Guest
Ian1779
Well-Known Member
They started talking to Wasps before the rent strike even began......
dongonzalos
Well-Known Member
If the council are in it for themselves. What do they do with any money they make?
rightumpty
New Member
Bob the blob has spoken
I am lost here
If Otium say to Appleton we will offer say £2.77m for the Higgs share then 85%% or so of that goes back to Otium as the major creditor
They then own 50% of ACL so effectively get 50% of the monies paid for the sale of the shares
Appleton in this case has a duty to get the best deal for the creditors - primarily OTIUM? So if he sells to Otium the figure only matters to the small percentage due to other creditors?
dongonzalos
Well-Known Member
Someone said wasps have had a power of veto transferred to them. I think also someone else suggested that because SISU transferred all the assets out that possibly ACL is the main creditor?
rupert_bear
Well-Known Member
Think Appleton will have to satisfy HMRC too, not sure how much is owed to them and also not sure if that has to be paid before Higgs shares can sold to the now liquidated ccfc ltd.
lordsummerisle
Well-Known Member
Think that the major creditor would be ACL with the remaining lease at £1.3million per year, think it was around £60million ACL were claiming.
The reason why it is an offer that really isn't to buy the Higgs share.
rupert_bear
Well-Known Member
So in a few words sisu have been well and truly shafted !!
lordsummerisle
Well-Known Member
Pretty much it, but wish Higgs and CCC could be honest about it.
Ian1779
Well-Known Member
Helped by the CET pedalling a story that they know damn well could never be fulfilled. More spin to beat the club with.