Wasps do have the veto (9 Viewers)

[James Smith]

So at the time the council wanted an unrealistic price

Its true value is about the same as the club paid for Freddie Eastwood (including wages) on a dice year contract.

A premier league stadium worth the same as a Southend journeyman.

Something is wrong somewhere.

Where did the council come into this? I'm saying that we had the option for the Higgs share of ACL (at a formula price) and buying that would have given us what I listed earlier. We'd have certainly avoided being sidelined by the council being approached by Wasps. I've said all along that if we weren't carefull if someone else went into the Ricoh we'd end up at best playing second fiddle and at worst homeless.

 

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[Grendel]

Where did the council come into this? I'm saying that we had the option for the Higgs share of ACL (at a formula price) and buying that would have given us what I listed earlier. We'd have certainly avoided being sidelined by the council being approached by Wasps. I've said all along that if we weren't carefull if someone else went into the Ricoh we'd end up at best playing second fiddle and at worst homeless.

So the council veto was void at that time?

Sorry I wasn't aware of that - how did they word this in the share agreement?

 

[James Smith]

So the council veto was void at that time?

Sorry I wasn't aware of that - how did they word this in the share agreement?

Why would the council have vetoed the deal? I'm talking in this thread about when the relationship with the council/ACL wasn't soured by the rent boycott etc. Why wouldn't they have green lit the sale to the club, the entity the stadium was built for, just after Sisu obtained the club? Or are you saying they were against SISU from the start of their tenure of owning our club?

 

[italiahorse]

So at the time the council wanted an unrealistic price

Its true value is about the same as the club paid for Freddie Eastwood (including wages) on a dice year contract.

A premier league stadium worth the same as a Southend journeyman.

Something is wrong somewhere.

Don't forget that ACL also pay a rent for the Ricoh based on profits so it's an ongoing contribution as well to CCC.

 

[mattylad]

There's the key line - selling ACL to Wasps isn't reversible, it's done. No matter what owners CCFC gets in the future, or however nice they are compared to SISU, there's no way back from that.

Wasps have been quite clear that they want 100% of the 24/7/365 income from the Ricoh, and that's what the Council and AEHC have given them, and for 250 years.

So, CCFC now either stay as tenants with extremely limited access to further revenue streams, or they build a new stadium. I find it hard to believe that anyone who understands that could possibly be happy, unless all that actually mattered to them was that SISU lose.

Ccc only ever wanted someone prepared to build a hotel. They often said that would be critical to them accepting a share of ownership

 

[Tonylinc]

Wasps manage to negotiate a 2.77 mil. deal and yet Shitzu can't (a sitting tenant).....Says it all really does it not!

 

[dongonzalos]

Ccc only ever wanted someone prepared to build a hotel. They often said that would be critical to them accepting a share of ownership

SISU told the council they had budgeted to build the hotel if they buy the Higgs share

 

[Broken Hearted Sky Blue]

Ccc only ever wanted someone prepared to build a hotel. They often said that would be critical to them accepting a share of ownership

Well surprie ,surprise work is going on where one of the hotels is planned,and complsory purchase orders are starting to be issued on the scrap yards:thinking about:

 

[Grendel]

Wasps manage to negotiate a 2.77 mil. deal and yet Shitzu can't (a sitting tenant).....Says it all really does it not!

How do you know the council didn't ask them first?

 

[italiahorse]

How do you know the council didn't ask them first?

The assumption was always the club would take it over so, yes.
Didn't they already have 50% before they sold it to Higgs?

No question .... they messed up.

 

[James Smith]

How do you know the council didn't ask them first?

According to the Telegraph Lucas said on CWR on the day the deal was announced that Wasps first approached them in the summer.

 

[Ian1779]

Wasps manage to negotiate a 2.77 mil. deal and yet Shitzu can't (a sitting tenant).....Says it all really does it not!

I think if the share had been offered at that price in the first instance - a deal may have been done a long while ago.

We had figures of around 5-6m bandied about a lot of the time

And who was the guy said it was going to cost £24m? Gidney perhaps (may well be wrong on the person here)

 

[Ian1779]

According to the Telegraph Lucas said on CWR on the day the deal was announced that Wasps first approached them in the summer.

But then the Wasps guy said it was a deal 2 years in the planning... which is before the rent strike.

 

[James Smith]

But then the Wasps guy said it was a deal 2 years in the planning... which is before the rent strike.

Probably was 2 years in the planning, but that doesn't mean that they approached the council at that time.

 

[Grendel]

According to the Telegraph Lucas said on CWR on the day the deal was announced that Wasps first approached them in the summer.

What did she say on sky sports about the 50% share of Higgs?

What did she actually say about wasps contacting them?

 

[skybluetony176]

But then the Wasps guy said it was a deal 2 years in the planning... which is before the rent strike.

didn't we have this the other week and it turned out that wasps had been planning to locate a permanent home for the last 2 years nothing specific about the Ricoh? Plus hasn't the guy and his hedge fund only been involved with the wasps for less than a year?

 

[James Smith]

What did she say on sky sports about the 50% share of Higgs?

What did she actually say about wasps contacting them?

No idea what she said on Sky I don't have it. Do you subscribe and do you know?

 

[cloughie]

I have not read all the thread as it became tedious but some on here are completely deluded if you ever thought that sisu had a miniscule chance of buying a 50 % share after wasps had bought the other 50%

Sisu have had there chance and they blew it several times. A spectacular failure at the expense of CCFC and the fans

 

[Rusty Trombone]

No idea what she said on Sky I don't have it.

Pretty sure she said she didn't meet with Wasps until July(ish), but the original approach would have been before then, July was when she said Council officers were saying Wasps were serious players.

 

[Tonylinc]

The message seems clear to me.....Shitzu....your bully boy London tactics do not work here in the Midlands so f.....g well get the hell out of our City!!!!

 

[Ian1779]

The message seems clear to me.....Shitzu....your bully boy London tactics do not work here in the Midlands so f.....g well get the hell out of our City!!!!

Translated to... franchises and hedge funds welcome.

 

[fernandopartridge]

The message seems clear to me.....Shitzu....your bully boy London tactics do not work here in the Midlands so f.....g well get the hell out of our City!!!!

So it's NOT about a great deal for the Coventry taxpayer. Regeneration etc? At least that's clear.

 

[covmark]

The message seems clear to me.....Shitzu....your bully boy London tactics do not work here in the Midlands so f.....g well get the hell out of our City!!!!

The message is clear to me. We hate London hedge funds, but we love London rugby clubs that are backed by hedge funds.
Plank!

Oh and Shitzu, fucking hell you're funny.

 

[fernandopartridge]

This ridiculous idea that you can 'plan a move for 2 years' yet decide the location in the last 3 months. There really are some proper mouth-breathers on here.

 

[Grendel]

The message is clear to me. We hate London hedge funds, but we love London rugby clubs that are backed by hedge funds.
Plank!

Oh and Shitzu, fucking hell you're funny.

He is a legal expert apparantly. I assume shitzu is some Latin legal word. All well above me.

 

[Grendel]

This ridiculous idea that you can 'plan a move for 2 years' yet decide the location in the last 3 months. There really are some proper mouth-breathers on here.

I know its hilarious. All of a sudden in July someone phoned the old croak out of the blue and deal done quicker than it takes to deliver a bed from John Lewis.

There really are some thick idiots on here.

Perhaps legal tony printed the new lease off for the deal to happen so quick.

 

[torchomatic]

And a spectacular victory by CCC at the expense of the fans. That's fans of Wasps, CCFC and CRFC.

A spectacular failure at the expense of CCFC and the fans

 

[Ian1779]

I know its hilarious. All of a sudden in July someone phoned the old croak out of the blue and deal done quicker than it takes to deliver a bed from John Lewis.

There really are some thick idiots on here.

Perhaps legal tony printed the new lease off for the deal to happen so quick.

To be fair...in Star Wars Episode III - Anakin Skywalker turned to the dark side in about the time it took for my Domino's Pizza to arrive.

Maybe the midichlorians are strong in more than one Lucas...

 

[James Smith]

This ridiculous idea that you can 'plan a move for 2 years' yet decide the location in the last 3 months. There really are some proper mouth-breathers on here.

For the record I'm not saying that's what happened, as I have no first hand knowledge, only what has been reported. It's possible that Wasps were in contact with the council the full two years ago (or some point in between) and the council only met with them face to face this summer. If they were talking to Wasps two years ago then it just makes them even more two faced and hypocritical.

 

[dongonzalos]

Maybe wasps have been interested for a long time and were told what the council were looking for and needed to see if they could raise the funds to do it.

Then maybe they came back to the council and said they can meet the demands.

Maybe this is when the council gave SISU the deadline of January and said they would listen to sensible offers from all parties including SISU and asked JS to get in touch.

Maybe post January when JS had not been in touch and the only offer came from wasps they pushed on with it. Even when CCFC came back temporarily (whilst building our new stadium)

Also just a guess but whatever the time frame SISU were given numerous hints that a deal was there to be had and that the council would look elsewhere if SISU did not want to do the deal

 

[torchomatic]

And while they were privately negotating with Wasps they were privately doing a deal for us to return too. And worst of all publically declaring they wanted to "rebuild trust".

Maybe wasps have been interested for a long time and were told what the council were looking for and needed to see if they could raise the funds to do it.

Then maybe they came back to the council and said they can meet the demands.

Maybe this is when the council gave SISU the deadline of January and said they would listen to sensible offers from all parties including SISU and asked JS to get in touch.

Maybe post January when JS had not been in touch and the only offer came from wasps they pushed on with it. Even when CCFC came back temporarily (whilst building our new stadium)

Also just a guess but whatever the time frame SISU were given numerous hints that a deal was there to be had and that the council would look elsewhere if SISU did not want to do the deal

 

[SkyblueBazza]

The SISU strategy was one of attrition. They took the battle to all other parties...& lost!


PUSB

 

[skybluetony176]

Also just a guess but whatever the time frame SISU were given numerous hints that a deal was there to be had and that the council would look elsewhere if SISU did not want to do the deal

It's almost like they took advice of someone who said it's a worthless soulless concrete shithole in Holbrooks that no other party would ever be interested, there's only one show in town so abide your time for a while so you can guarantee picking it up for nothing and to stop you getting bored why don't you throw the JR so you've got the appeal to keep you entertained.

 

[Mary_Mungo_Midge]

So it's NOT about a great deal for the Coventry taxpayer. Regeneration etc? At least that's clear.

As someone who's been to the Ricoh this evening and met with and heard Nick Eastwood speaking; you're wrong. It may not be a deal that suits CCFC - that's clear, but it is part of a bigger picture that you're unaware of

 

[Ian1779]

As someone who's been to the Ricoh this evening and met with and heard Nick Eastwood speaking; you're wrong. It may not be a deal that suits CCFC - that's clear, but it is part of a bigger picture that you're unaware of

Enighten us then....