Wasps do have the veto (6 Viewers)

[Nick]

They get to say who buys Higgs share.

Goodnight.

http://www.coventrytelegraph.net/news/coventry-news/coventry-city-fcs-ricoh-bid-8087735

 

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[ChevyChase]

Im not sure after reading Les Reid latest tweet... Seems its down to Higgs who's offer they accept.
Or ive read completly wrong.[

QUOTE=Nick;811067]They get to say who buys Higgs share.

Goodnight.

http://www.coventrytelegraph.net/news/coventry-news/coventry-city-fcs-ricoh-bid-8087735[/QUOTE]

 

[Hobo]

I thought this had already been made clear and discussed on another thread...ACL Chairman asked to resign

 

[SimonGilbert]

Wasps have an effective power of veto. They have to agree to any sale of the Higgs shares. As per the quotes in the story:

"The shares in ACL are owned 50/50 by Wasps and the Alan Edward Higgs Charity.“The shareholders can sell their shares but each shareholder has a right to approve the purchaser of the other shareholder’s shares."

 

[covcity4life]

our only hope is that this was a sisu/wasps masterplan all along..

 

[Covstu]

yep we are fucked, literally brought out of house and home.

 

[Skyblueweeman]

I was thinking whether Wasps might want to own the place 50/50 - share the costs, pool together resources etc but then realised they put in their own bid for the other 50%.

We're fooked.

 

[Nick]

I thought this had already been made clear and discussed on another thread...ACL Chairman asked to resign

Ah sorry just looked for threads about this abd didn't see one

 

[shy_tall_knight]

SISU's conduct would prevent any possibility of a partnership - "we batter people in court" is a soundbite that they and us Cov fans will regret for many a year

 

[AndreasB]

...and some poor deluded souls on here still think Wasps are going to develop and market both franchises.

 

[bradwellskyblues]

so when ann lucas said ccfc "have first dibs at higgs share" she knew this was the case ,makes you wonder just how much ccc/higgs hate sisu and who looses out us the fans great

 

[RFC]

They get to say who buys Higgs share.

Goodnight.

http://www.coventrytelegraph.net/news/coventry-news/coventry-city-fcs-ricoh-bid-8087735

Nice attempted 'stitch-up' by CCC, once again. Hope they're proud and can sleep well at night!

 

[Broken Hearted Sky Blue]

...and some poor deluded souls on here still think Wasps are going to develop and market both franchises.

Out of the mouth of babes


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[Nick]

so when ann lucas said ccfc "have first dibs at higgs share" she knew this was the case ,makes you wonder just how much ccc/higgs hate sisu and who looses out us the fans great

Of course she knew, the same as the councillors giving it billy big balls about it on twitter. The ones who went quiet when asked a question not in their script.

 

[Rob S]

Hahaha! How is this anything new? Or is it that Simon ballsed up his story yesterday and is having to correct it with this story?

Yesterday's story made out that a new ACL chairman would have a casting vote but now we're told this is not the case. Or maybe the source is someone on SBT? ;-)

This is nothing new. We found out on 7 Oct that the council veto would transfer to Wasps with the sale.

The council are saying that their share is now sold so we wait for Higgs to decide over CCFC Ltd / Sisu offer & then, if Higgs want to accept it, Wasps decide if they veto.

It's down to AEHC to make a decision. Just a pity they didn't make a pro-CCFC decision way back in 2012 when a better deal than this Wasps deal was on the table. We could have avoided relegation, ridiculous legal bollox, PR machine foolishness and everything else.

 

[torchomatic]

Easy tiger. You're likely to get lynched for daring to even THINK such a thing! Remember she guaranteed our future and that of CRFC when she courted Wasps.

so when ann lucas said ccfc "have first dibs at higgs share" she knew this was the case ,makes you wonder just how much ccc/higgs hate sisu and who looses out us the fans great

 

[DaleM]

Hahaha! How is this anything new? Or is it that Simon ballsed up his story yesterday and is having to correct it with this story?

Yesterday's story made out that a new ACL chairman would have a casting vote but now we're told this is not the case. Or maybe the source is someone on SBT? ;-)

This is nothing new. We found out on 7 Oct that the council veto would transfer to Wasps with the sale.

The council are saying that their share is now sold so we wait for Higgs to decide over CCFC Ltd / Sisu offer & then, if Higgs want to accept it, Wasps decide if they veto.

It's down to AEHC to make a decision. Just a pity they didn't make a pro-CCFC decision way back in 2012 when a better deal than this Wasps deal was on the table. We could have avoided relegation, ridiculous legal bollox, PR machine foolishness and everything else.

All of it's a pity mate from moving from Highfield Road, having to "sell" off half the Ricoh to fucking up buying the Higgs share back in 2007 when Sisu took over.

It's a total fuckup from all sides involved in the sad demise of CCFC so lets refrain from the old attacks on the telegraph tea boy heh

 

[Rusty Trombone]

Hahaha! How is this anything new? Or is it that Simon ballsed up his story yesterday and is having to correct it with this story?

Yesterday's story made out that a new ACL chairman would have a casting vote but now we're told this is not the case. Or maybe the source is someone on SBT? ;-)

This is nothing new. We found out on 7 Oct that the council veto would transfer to Wasps with the sale.

The council are saying that their share is now sold so we wait for Higgs to decide over CCFC Ltd / Sisu offer & then, if Higgs want to accept it, Wasps decide if they veto.

It's down to AEHC to make a decision. Just a pity they didn't make a pro-CCFC decision way back in 2012 when a better deal than this Wasps deal was on the table. We could have avoided relegation, ridiculous legal bollox, PR machine foolishness and everything else.

In what way was the 2012 deal better?

 

[Monners]

 

[Broken Hearted Sky Blue]

Of course it was better Joy just told him it was in her boardroom and Ken agreed the twat


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[Rob S]

Easy tiger. You're likely to get lynched for daring to even THINK such a thing! Remember she guaranteed our future and that of CRFC when she courted Wasps.

A digital lynching by a few SBT fundamentalists? As someone who's had a few of those, enjoy 'em...they're f'in hilarious ;-)

Than again, get out in the real world and find out what people think of the council and this deal.

 

[DaleM]

A digital lynching by a few SBT fundamentalists? As someone who's had a few of those, enjoy 'em...they're f'in hilarious ;-)

Than again, get out in the real world and find out what people think of the council and this deal.

In the real world the majority of Coventry citizens don't give a flying fuck.

 

[Rusty Trombone]

A digital lynching by a few SBT fundamentalists? As someone who's had a few of those, enjoy 'em...they're f'in hilarious ;-)

Than again, get out in the real world and find out what people think of the council and this deal.

The sad reality in the 'real world' is that most people in Coventry couldn't care less, doesn't make it right, but it's true.

 

[spider_ricoh]

I've never seen a problem with us being tenants without access to the revenues, though I understand that we do get some of the ACL share at the moment based on the short-term lease. Limited access to revenues is not a justification for building a new ground. On that basis, nothing has really changed, other than the nightmare scenario of SISU owning the Ricoh has been killed off. As such, this is good news - not that anyone really expected anything different.

And for anyone who predicts more legal action, I also expect that SISU's appetite for this is seriously diminished by the shellacking they got in the JR - ML has left the club and was chief advocate of this strategy (TF was the "brains" behind the rent strike plan) so I think that unless anything staggeringly bad happens, there won't be any new court action beyond the existing goings-on.

 

[Hobo]

We are in this mess not because of the CCC.

As a club we mismanaged our move from Highfield Rosd to the Ricoh, a move the club needed to make.

SISU have come in and in 7 years have failed to address or rectify the matter, in fact they have made a complete pigs ear of it. They have mismanaged every department of their tenure with the club continuing to spiral down.

Even their claims to batter people in court and claims that they are good negotiators have fallen flat. If they ever had a smoking gun, then they failed to keep the gunpowder dry!

 

[Danceswithhorses]

...and some poor deluded souls on here still think Wasps are going to develop and market both franchises.

Looks like we'll have rely on SISU to develop and market us then

 

[Rob S]

In what way was the 2012 deal better?

Taking over the £14.4m bailout loan for starters. The Wasps deal just restructured it so council taxpayers are still liable if they default.

£2m 2 years ago (after due dil) for 50% of shares and a 125 year lease.

So we'd have had:

CCFC playing at the Ricoh all the time

Continuation of big concerts/events at Ricoh

No administration = no 20pt deduction = chance of regaining Championship football

Less money & bullshit re: legal & PR

Chance of Sisu selling CCFC as a going concern.

 

[Sick Boy]

I wonder if the dickheads like italia and spider ricoh will still be telling us that we are in safe hands with Wasps?

 

[Sick Boy]

As such, this is good news - not that anyone really expected anything different.

How is this good news for CCFC?

 

[Rob S]

In the real world the majority of Coventry citizens don't give a flying fuck.

Well, I was thinking of the real world of going to games & talking to fans but in terms of Cov as a whole, you're right...they don't really care.

 

[torchomatic]

You seriously think this is good news. And you don't see a problem with the club not getting the revenue it generates? Would you like to explain why?

I've never seen a problem with us being tenants without access to the revenues, though I understand that we do get some of the ACL share at the moment based on the short-term lease. Limited access to revenues is not a justification for building a new ground. On that basis, nothing has really changed, other than the nightmare scenario of SISU owning the Ricoh has been killed off. As such, this is good news - not that anyone really expected anything different.

And for anyone who predicts more legal action, I also expect that SISU's appetite for this is seriously diminished by the shellacking they got in the JR - ML has left the club and was chief advocate of this strategy (TF was the "brains" behind the rent strike plan) so I think that unless anything staggeringly bad happens, there won't be any new court action beyond the existing goings-on.

 

[covmark]

You seriously think this is good news. And you don't see a problem with the club not getting the revenue it generates? Would you like to explain why?

That's an easy one. His hate for Sisu far outweighs his feelings for the club. Sad but true.

 

[Rob S]

We are in this mess not because of the CCC.

We are in this mess because of the failures and fuck ups of various flavours of Sisu, AEHC & CCC and their accomplices. Anyone who tries to pin it on just one entity is either

• trying to make it easy on their brain (we tend to prefer black or white solutions rather than shades of grey);
• not fully informed of all of the facts (easy to understand because the facts are many & labyrinthine); or
• bullshitting

This saga has been allowed to lumber on because people either haven't cared enough or they have lined up behind one side.

Now we have a situation where the club we support is doomed to either rent forever or move outside the city. Ultimately you can blame whoever you want. Doesn't change anything and as I said earlier, it could have all been easily avoided. If only people hadn't have sucked up all the bullshit from one side whilst ignoring half of what was going on.

 

[spider_ricoh]

That's an easy one. His hate for Sisu far outweighs his feelings for the club. Sad but true.

Perhaps you can explain why ypu have swallowed Tim's flimsy excuse about the revenues which are clearly a fig leaf for his hard-ball tactics? The Wasps deal sees him having to accept his own medicine. Good.

 

[torchomatic]

So you are saying the club doesn't need revenue then? Mark is right, you're hate for them outweighs anything else. Sad, sad man.

Perhaps you can explain why ypu have swallowed Tim's flimsy excuse about the revenues which are clearly a fig leaf for his hard-ball tactics? The Wasps deal sees him having to accept his own medicine. Good.