Sepalla interview (23 Viewers)

[Sick Boy]

When were there any complaints that SISU hedge fund may take ownership of ACL?

Is this a joke?

 

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[Rusty Trombone]

There was a fair bit TBF

It may have formed a certain amount of CCC policy on the situation as It stood 18-24 months ago.

I don't recall any complaints of this nature, maybe it was before I started reading on here.

 

[wingy]

Yeah, Mutton especially was keen to emphasise he wouldn't consider a deal with CCFC while a hedge fund was in charge. Supposedly we'd moved forward from that... but arguably the actions since say otherwise, and we should at least respect Mutton for being up front about things!

With all the speculation as to when and why etc ,I'd guess this got serious around that time you expressed deep concern around certain

tones emanating from certain Council sources .

Possibly November.

 

[Rusty Trombone]

Is this a joke?

No. Were there complaints when they were thinking of buying Higgs shares before?

 

[Deleted member 5849]

No. Were there complaints when they were thinking of buying Higgs shares before?

Yes.

I don't think we will be able to help while there is a hedge fund involved.

http://www.independent.co.uk/sport/...menacingly-over-fading-sky-blues-7665774.html

 

[Godiva]

That would put plans being put together in October 2012 wouldn't it. Which is 2 months after any exclusivity period ended and 2 months after the Charity made it clear they were prepared to listen offers from other parties. At that time Oct 2012 it may have been the interest in ACL by wasps was in the 50% owned by the Charity. It may also have been the case that any approach and talks were not particularly substantive especially considering Wasps own financial status at the time. So seems to me the negotiations with SISU as far as Charity were concerned died before Wasps were interested. Did that interest influence the Council, well that depends on the depth of interest doesn't it, and whether there were any talks at all between AEHC/ACL/CCC and Wasps prior to December 2012 when SISU ownership talks failed and we do not know that one way or another

He said two years. It could be September 2012 or maybe earlier. It could October or later. He didn't give an exact date.
But that is not really my point. A month or two on either side still put it inside the timeframe where sisu/CCC/Higgs was talking and I for one find it quite despicable that Wasps was even invited to tea in that period.

But why hasn't the question been put to CCC/ACL - when did you first meet with Wasps, when did talks start that ultimately lead to them taking over ccfc's only sustainable future at the Ricoh?
Isn't that an interesting question?

 

[Rusty Trombone]

Yes.



http://www.independent.co.uk/sport/...menacingly-over-fading-sky-blues-7665774.html

I meant from posters on here. Mutton saying it doesn't really back up Sick Boys comments.

 

[wingy]

I meant from posters on here. Mutton saying it doesn't really back up Sick Boys comments.

Plenty of Evidence In threads from that time.

 

[Rusty Trombone]

He said two years. It could be September 2012 or maybe earlier. It could October or later. He didn't give an exact date.
But that is not really my point. A month or two on either side still put it inside the timeframe where sisu/CCC/Higgs was talking and I for one find it quite despicable that Wasps was even invited to tea in that period.

But why hasn't the question been put to CCC/ACL - when did you first meet with Wasps, when did talks start that ultimately lead to them taking over ccfc's only sustainable future at the Ricoh?
Isn't that an interesting question?

Lucas said her first meeting with Wasps was in July this year, implying that's when it became a serious bid.

 

[Deleted member 5849]

Plenty of Evidence In threads from that time.

tbf, nothing wrong with being suspicious about SISU, nothing at all. In fact, it's the wisest position to take!

Wish that didn't provoke a binary reaction of supporting others though, in a %age game.

 

[Godiva]

Lucas said her first meeting with Wasps was in July this year, implying that's when it became a serious bid.

Are you suggesting that no negotiations took place prior to that?
Or are you trying to shield her from any blame? Due Diligence has taken a long time - certainly more than a few months - did she not know that Wasps was given access to confidential and sensitive financial information?

Of course she knew.

 

[Hobo]

Well you will have to ask the CEO what he meant by the comment "this has taken two years" won't you?

Yes but what was discussed two years ago...a whole host of possibilities.

Lets talk facts when SISU took control of the club they had an ption to buy into the Ricoh...they declined..

My opinion they didnt have the finances and have never had them since.

Result Wasps have bought into the Ricoh...SISU left looking for others to blame.

 

[Broken Hearted Sky Blue]

Are you suggesting that no negotiations took place prior to that?
Or are you trying to shield her from any blame? Due Diligence has taken a long time - certainly more than a few months - did she not know that Wasps was given access to confidential and sensitive financial information?

Of course she knew.

Of course she did and so did Joy Tim Ken et al.

 

[chiefdave]

He said two years. It could be September 2012 or maybe earlier. It could October or later. He didn't give an exact date.
But that is not really my point. A month or two on either side still put it inside the timeframe where sisu/CCC/Higgs was talking and I for one find it quite despicable that Wasps was even invited to tea in that period.

It as around April 2012 we stopped paying the rent wasn't it? You could easily argue that ACL starting on a backup plan at any point past that wasn't unreasonable.

My feeling is that, whenever and however it started, it is SISU who have let this situation occur. If from day one they had clearly stated and continued to state we want 100% ownership of ACL we may well be in a different situation. Instead they didn't even buy the 50% they were entitled to, stopped paying the rent, moved out and then moved back saying it was only temporary.

If they haven't pushed CCC into this course of action then they have certainly played into their hands. They've given CCC and everyone else involved every excuse they could ever possibly wish for.

 

[Deleted member 5849]

Yes but what was discussed two years ago...a whole host of possibilities.

Lets talk facts when SISU took control of the club they had an ption to buy into the Ricoh...they declined..

My opinion they didnt have the finances and have never had them since.

Result Wasps have bought into the Ricoh...SISU left looking for others to blame.

They had the finance originally, they just chose to spend it on Fox, Dann, Eastwood, Westwood instead.

 

[Sick Boy]

tbf, nothing wrong with being suspicious about SISU, nothing at all. In fact, it's the wisest position to take!

Wish that didn't provoke a binary reaction of supporting others though, in a %age game.

I imagine that a few would still welcome back Elliot, Hoffman & Ranson with open arms.

 

[Hobo]

They had the finance originally, they just chose to spend it on Fox, Dann, Eastwood, Westwood instead.

How short sighted. You would have thought the non football fan/real estate expert Sepalla would have made a different decision?

 

[torchomatic]

Seriously?

When were there any complaints that SISU hedge fund may take ownership of ACL?

 

[torchomatic]

I dont remember anyone complaining at the time.

How short sighted. You would have thought the non football fan/real estate expert Sepalla would have made a different decision?

 

[Deleted member 5849]

I dont remember anyone complaining at the time.

I did

 

[Hobo]

I dont remember anyone complaining at the time.

Are you thick? buying into the Ricoh was always going to secure our future the sooner the better.

But the likes of you and Grendel spouted it was over valued, then no one else would buy it, now it is Wasps wont be able to afford it and SISU should rightfully have it!

No one complained about them not taking up the option in take over? What fans were you talking to?

 

[torchomatic]

Well, there's always one.

I did

 

[Deleted member 5849]

No one complained about them not taking up the option in take over? What fans were you talking to?

tbf, when they took over there were an awful lot saying we should spend the money on players, and sod the stadium.

Also tbf, not entirely sure the ground was a fabulous deal then (still not, although less so) as ACL had a large debt, larger than now, and worse financial performance (until recently? ). You could certainly make a case then that the ground might have dragged the club down.

On the cold financial level, not buying ACL was probably correct then. In terms of looking after the club long term as custodian... probably not.

 

[torchomatic]

Super Ray had it all figured out remember, we were going to be promoted to the PL and then we'd concentrate on the stadium.

Are you thick? buying into the Ricoh was always going to secure our future the sooner the better.

But the likes of you and Grendel spouted it was over valued, then no one else would buy it, now it is Wasps wont be able to afford it and SISU should rightfully have it!

No one complained about them not taking up the option in take over? What fans were you talking to?

 

[Hobo]

Super Ray had it all figured out remember, we were going to be promoted to the PL and then we'd concentrate on the stadium.

You obviously sucked that one right up.

The alarm bells for me was the insistance that small share holders surrendered their shares and then the fact they declined to buy into the Ricoh. We needed that to secure our future especially if we returned to the Premier League.

 

[wingy]

tbf, when they took over there were an awful lot saying we should spend the money on players, and sod the stadium.

Also tbf, not entirely sure the ground was a fabulous deal then (still not, although less so) as ACL had a large debt, larger than now, and worse financial performance (until recently? ). You could certainly make a case then that the ground might have dragged the club down.

On the cold financial level, not buying ACL was probably correct then. In terms of looking after the club long term as custodian... probably not.

But you forget that the loan could have been discounted by around 60%.

I too was Incredulous that they wouldn't action the Higgs at minimum .

Ranson used to Infuriate me when trotting out "We ain't moving on that anytime soon".

It was the perfect time, right on D-Day

 

[Godiva]

It as around April 2012 we stopped paying the rent wasn't it? You could easily argue that ACL starting on a backup plan at any point past that wasn't unreasonable.

Yes, it was around April 2012 the club said a 'rent vacation' should be part of the road-map. ACL apparently objected, but still went on with the negotiations. If ACL felt a rent vacation was a deal breaker, surely they would have left the table then? They didn't and so it is absolutely dishonest if they started parallel negotiation with a third party. Remember all the 'CCC only want what's best for the club'?

And why a back-up plan anyway? If negotiations with the club broke down they could just put everything on hold? Right? They could have offered rent at the current level for example. In stead they issued a winding up petition.

My feeling is that, whenever and however it started, it is SISU who have let this situation occur. If from day one they had clearly stated and continued to state we want 100% ownership of ACL we may well be in a different situation. Instead they didn't even buy the 50% they were entitled to, stopped paying the rent, moved out and then moved back saying it was only temporary.

Sisu is partly to blame for the current situation, but nobody who has taken part in this affair smells like roses.
They did at take over state they wanted to own the stadium. But Ranson, Elliott and Hoffman spent the money on players and high wages.
Later - during 2012 - when sisu wanted to buy half of ACL they refused to pay the formula price (thought to be £7m-£8m). And knowing Wasps have gotten all of ACL for a lot less, maybe it's not unreasonable to believe ACL wasn't worth the formula price.

If they haven't pushed CCC into this course of action then they have certainly played into their hands. They've given CCC and everyone else involved every excuse they could ever possibly wish for.

To me it looks like they pushed each other away from the deal.
And no, I see no excuse for the council to sell the only sustainable future for the club at the Ricoh.
What I see is the council giving sisu every excuse for building a new stadium.

 

[James Smith]

I imagine that a few would still welcome back Elliot, Hoffman & Ranson with open arms.

Dear goodness no! Out of the frying pan and all that......

 

[Deleted member 5849]

But you forget that the loan could have been discounted by around 60%.

I too was Incredulous that they wouldn't action the Higgs at minimum .

Ranson used to Infuriate me when trotting out "We ain't moving on that anytime soon".

It was the perfect time, right on D-Day

Was never convinced owning the stadium management company as constituted was an ideal investment.

As it stood, neither did SISU... and neither did Wasps either, as the lease was extended to proper levels.

Suppose the surprising thing with SISU is they were ruthless enough to have a ticking clock and grab a few shares back... but never bothered about anything else. Then again, only the ticket for premiership and selling the club was the worthwhile one to them... then.

 

[letsallsingtogether]

Ah but others still see Sisu as the only answer!!...........

I imagine that a few would still welcome back Elliot, Hoffman & Ranson with open arms.

 

[Deleted member 5849]

Can I go for none of the above?

 

[Rusty Trombone]

Are you suggesting that no negotiations took place prior to that?
Or are you trying to shield her from any blame? Due Diligence has taken a long time - certainly more than a few months - did she not know that Wasps was given access to confidential and sensitive financial information?

Of course she knew.

I'm not suggesting either of those scenarios. I think she would be an important cog in getting the deal through, and therefore my answer to the question that I was replying to is valid. If she is telling lies about her first meeting with them being in July I'd have thought that would be easy for someone to prove, so I'm working on the basis that her statement is correct.

Of course they would be negotiating before then, that's what Lucas said as well.

 

[martcov]

Are you suggesting that no negotiations took place prior to that?
Or are you trying to shield her from any blame? Due Diligence has taken a long time - certainly more than a few months - did she not know that Wasps was given access to confidential and sensitive financial information?

Of course she knew.

If we knew, she knew and lots of others knew, then presumably SISU knew. What have SISU said in the meantime? We are building a stadium and are continuing with the JR. So, they, by their inaction, implied that they werdn' too bothered.

 

[Grendel]

If we knew, she knew and lots of others knew, then presumably SISU knew. What have SISU said in the meantime? We are building a stadium and are continuing with the JR. So, they, by their inaction, implied that they werdn' too bothered.

Extraordinary - next you'll be telling that sisu are the paragons of truth.

 

[letsallsingtogether]

Aren't they:thinking about:

Extraordinary - next you'll be telling that sisu are the paragons of truth.