Les Reid Update (32 Viewers)

[dongonzalos]

Find one article that suggests anything other than 100% control for wasps and look at all their communications -- 100% is what they have been always claiming was the deal

Find one article that's say 100% or we walk.
They said they are buying the councils and hope to buy ACL's

 

---

[Monners]

I have always dreamed of us getting into Europe!

 

[torchomatic]

Loads of Telegraph stories are equally as vague, example, look at the Pressley and Huddersfield story:

[h=2]Yorkshire club lured Robins from Sky Blues in 2013 but after his departure on the opening day of the season, the Terriers are expected to target Pressley as his replacement.[/h]
It is understood that Huddersfield chairman Dean Hoyle has earmarked Pressley as a prime candidate to take over at the John Smith’s Stadium.

His words were "I'm hearing that" for the Ranson story, "my sources say" for the 14 councilers story and neither of those are very different to this story where he says "I understand that"

Les Reid did receive alot of praise and why would he not of done, he actually did some investigative journalism and he provided information we didn't have, I don't think any of the local journalism has been great but he did many praiseworthy things and so has Simon. I can not understand the attitude that you must only ever have one opinion about a certain person and their actions, this is an idiotic viewpoint that leads to idiotic after idiotic post, when you do well you get praised, when you throw your toys out of the pram, or do a poor job of interviewing someone, or you sing your own praises to sickening levels you get criticised. This is the reasonable viewpoint. This is how you reasonably dish out praise or criticism. There is no irony and no hypocrisy on criticising someone you have praised in the past and none in losing respect for someone you respected

Your final comment is nonsense

 

[torchomatic]

Digging? They'll read SBT.

Simon I know you are away but is anyone from the CeAt going to try and do some digging and establish what all are for the parties involved

 

[dongonzalos]

I thought that Reid & Nikki Sinclaire were once seen as heroes, but once they stopped saying what the sheep on here wanted to here they were the spawn of Satan. Much in the same way Ann Lucas was abused because she spoke out against the convicted criminal, Marlon King signing for the club.

Welcome to the most hypocritical clubuccuo in Europe.

I agree with her re marlon king.
Yes it does seem when someone puts their flag in the sand they suddenly get ridiculed some far more than others


Les Reid
Richard Keyes
Gary Hoffman
Mr Elliot
Niki Sinclair
Ann Lucas
Mr Mutton
Simon Gilbert
CET as a whole

 

[Jack Griffin]

Nobody seem to suspect that sisu perhaps got wind of the possible deal with Wasps and deliberately delayed the liquidation?

Or maybe they found out the option was not transferable and re thunk their strategy.

 

[Jack Griffin]

There was mention that 43 years of the ACL lease at £1.3m per year could form part of the creditors.

ISTR that got written down to a much smaller value & was part of the £630K they got.

 

[Jack Griffin]

Working during your holidays Simon?

Highly commendable

 

[chiefdave]

Find one article that suggests anything other than 100% control for wasps and look at all their communications -- 100% is what they have been always claiming was the deal

Wasps have today announced the acquisition of a 50% interest in the Ricoh Arena with immediate effect.
Wasps become the joint owners of one of Europe’s largest multi-purpose venues having acquired a 50% interest in Arena Coventry Limited from Coventry City Council.

 

[duffer]

Got to love it -- the liquidator, Appleton, is on holiday again.

Probably just me, but I've got an image of him hacking through the jungles of central america, whip and revolver in hand, still in search of the Golden Share.

 

[Noggin]

Loads of Telegraph stories are equally as vague, example, look at the Pressley and Huddersfield story:

I'm sure some are, I don't have a great deal positive to say about the telegraph, though I'm still glad they are there.

You seem to have missed my point though.

Sick boy was wondering when the telegraph were going to cover this breaking news from Les Reid, my response was that the previous 2 pieces of les reid news were both false, sick boys response was that the les reid had said the ranson story was just a rumour, I was showing the language he used to give the ranson news was very similar to the language for the 14 councilor story and this piece of news. so this story should be taken with the same validity as the ranson story.

 

[DaleM]

Got to love it -- the liquidator, Appleton, is holiday again.

Probably just me, but I've got an image of him hacking through the jungles of central america, whip and revolver in hand, still in search of the Golden Share.

Can't picture it mate . There is only one picture

 

[Grendel]

I assume Chief Dave you did not hear the radio interviews of PWKH and the wasps chairman or whoever he was?

 

[chiefdave]

I assume Chief Dave you did not hear the radio interviews of PWKH and the wasps chairman or whoever he was?

Wasn't passing comment, just answering your question asking for articles that suggest anything other than 100% control for Wasps!

To be honest I have no idea if we have a chance of getting 50% or not. When the council did the deal it seemed we had been stitched up. Then there was the suggestion that SISU could still buy Higgs 50% which was rubbished as impossible and then we had Les Reid's comments which seemed to be accepted as evidence that SISU could buy 50% after all. Without having access to all the relevant documents and knowledge of the appropriate legalities it would be hard to definitely say one way or the other which point of view is correct.

 

[Grendel]

Wasn't passing comment, just answering your question asking for articles that suggest anything other than 100% control for Wasps!

To be honest I have no idea if we have a chance of getting 50% or not. When the council did the deal it seemed we had been stitched up. Then there was the suggestion that SISU could still buy Higgs 50% which was rubbished as impossible and then we had Les Reid's comments which seemed to be accepted as evidence that SISU could buy 50% after all. Without having access to all the relevant documents and knowledge of the appropriate legalities it would be hard to definitely say one way or the other which point of view is correct.

PWKH said that they wanted to sell to wasps. The wasps guy spluttered about confidentiality and would not confirm anything but they owned. 50%

It was corporate speak for the day

 

[chiefdave]

PWKH said that they wanted to sell to wasps. The wasps guy spluttered about confidentiality and would not confirm anything but they owned. 50%

It was corporate speak for the day

So why is everyone getting excited about what Reid tweeted? I asked the same earlier in the thread as I'd stopped reading a lot of the stuff about the stadium / Wasps and there seemed to be a sudden change from there's no way we can buy the share to we're going to own 50% based of what had been tweeted so assumed something had changed but it seems not. A lot of excitement about nothing?

 

[dongonzalos]

PWKH said that they wanted to sell to wasps. The wasps guy spluttered about confidentiality and would not confirm anything but they owned. 50%

It was corporate speak for the day

If someone is offering you 2.7 million.
No if buts arguments and they haven't tried to put you out of business at the same time. I can kinda see where the charity are coming from

However is SISU double that money and show they have it will pay it no messing.

Can't see how the charity or council can block it

They would get slaughtered by everybody

Unless it is true that wasps have a get out clause if they don't get the whole 100%

 

[SkyBlue_Bear83]

If wasps or the council want to stop the club getting 50% I think it will be in their power to do so, the only way SISU will get the 50% is if they agree it with wasps or council which seems unlikely imo

 

[albatross]

Since there is no majority stakeholder It will be in the articles of ACL (being a 50/50 split) that both of the shareholders will be protected by a clause that prevents the other party selling to an other investor unless it is agreed by the other party.

Each shareholder will be further protected by another clause that will state that neither party can unreasonably block the sale of their 50%. It would be then for shareholders to take this to court not SISU.

All SISU can bid for is an option to purchase via CCFC Ltd. That is not a guarantee that ANY offer would be acceptable to the Board / Shareholders of ACL

 

[SkyblueBazza]

Why would anyone pay twice as much for the shares as someone has owning the other half.

Anyway makes no odds will still be rejected.

For the same reason that people buy tickets from a tout at ridiculously inflated prices...if they want it bad enough now, knowing it could be a half share or no share at all, the value of that half share has increased.
A bit like how the stock markets work really.


PUSB

 

[dongonzalos]

For the same reason that people buy tickets from a tout at ridiculously inflated prices...if they want it bad enough now, knowing it could be a half share or no share at all, the value of that half share has increased.
A bit like how the stock markets work really.


PUSB

And when you compare it to the alternative

 

[dongonzalos]

CWR now........

 

[dongonzalos]

Some attacking councillor Maton re the deal

 

[dongonzalos]

Sick Grendel Boy is your name Russ?

 

[dongonzalos]

Pete now saying about Les's tweet and asking is it completed

 

[dongonzalos]

Kevin Maton won't comment on a direct question is the deal completed due to commercial confidentiality

 

[Nick]

Have got a thread can you whack it in here for people who aren't listening??

http://www.skybluestalk.co.uk/showthread.php?t=50201

 

[ajsccfc]

Sick Grendel Boy

This does you no favours.

 

[Rusty Trombone]

How much have donated in the last 5 years then?

Got those figures for you.

For the 5 years ended in 2013 Higgs donated £1,077,066. I would imagine this will be in line with their remit to donate in Cov and within 25 miles of Cov. This total was for 219 donations to charities, so about £5k each. They also gave £50k over that period to Coventry Mysteries.

In 2004 they paid £11m to fund the Alan Higgs Centre on Allard Way, outside of your 5 years I know, but worthy of mention.

 

[Grendel]

Got those figures for you.

For the 5 years ended in 2013 Higgs donated £1,077,066. I would imagine this will be in line with their remit to donate in Cov and within 25 miles of Cov. This total was for 219 donations to charities, so about £5k each. They also gave £50k over that period to Coventry Mysteries.

In 2004 they paid £11m to fund the Alan Higgs Centre on Allard Way, outside of your 5 years I know, but worthy of mention.

So the donations amount to less than the sale if the council shares - over 5 years?

 

[Grendel]

This does you no favours.

He is the first poster I have put on ignore - already enjoying the experience.

 

[Rusty Trombone]

So the donations amount to less than the sale if the council shares - over 5 years?

Obviously yes. The shares cost them £6.5m, they are held on their balance sheet, and when they sell them for less they will have to write that off. I think they have about £19m of investments, so they will take quite a hit.

Not sure what point you are trying to make, if there is one.

 

[Grendel]

Obviously yes. The shares cost them £6.5m, they are held on their balance sheet, and when they sell them for less they will have to write that off. I think they have about £19m of investments, so they will take quite a hit.

Not sure what point you are trying to make, if there is one.

So they donate £200,000 a year on average?

 

[Rusty Trombone]

So they donate £200,000 a year on average?

Yes, that's what the figures show for those years. It excludes any more investments they are making in the area, just the donations given. Come on I know there must be a punch line coming, just get on with it.

 

[Jack Griffin]

Yes, that's what the figures show for those years. It excludes any more investments they are making in the area, just the donations given. Come on I know there must be a punch line coming, just get on with it.

There was also.. these projects they seem to be involved in.
http://www.coventrytelegraph.net/news/coventry-news/coventry-city-centres-browns-bar-6428089
http://www.higgscharity.org.uk/drapers-hall/