Has the penny dropped yet? (13 Viewers)

[Astute]

Fuck me.

I guess it's the council's fault we don't have plans for a new stadium? Or we've filled a fairly expensive team with shit players?

FFS. We really do get the club we deserve.

Any plans to hold the people legally responsible for the wellbeing of the business to account? Or that a little too Occam's Razor for you?

I remember when this forum was about football not politics. We (the club) fucked up. Several on here (Grendel, Torch, Godiva, Nick, LS, etc.) thought they were fucking geniuses because of their bias against the council fucking them over must be good, because, uhhh I dunno.

Remember the laughs of derision when some suggested that if we leave the Ricoh someone else came in? "But we've broken the lease" they shouted! Hurrah, we've done over that nasty council! Remember how the Ricoh as a white elephant that needed us? Remember? Remember how the Council "had to sell the Ricoh for the good of the taxpayers"?

No, of course you fucking don't. Just keep parroting whatever line you're supposed to, don't dare engage your brain.

People saw this coming a mile off. Wasps were specifically mentioned and discounted by the know it alls on here. YOU ALL FUCKING ASKED FOR THIS YOU RETARDS. And yet here you still are trying to make out that somehow it's still all the council's fault.

This side of the argument has been proven wrong at every single turn. The "Smoking gun": wrong. The new stadium plans coming: wrong. Illegal State Aid: wrong. White Elephant Ricoh: wrong. Breaking the lease being good for the club: wrong. Wrong. Wrong. Wrong. And yet still have the gall to come on here day after day acting as if this time they really do know what's going on.

They're idiots. Idiots with a political axe to grind and they always have been. Listen to their rhetoric. not about the club, about the council. That's what they care about, not the club, just making political points. Pathetic and treaturous for supposed CCFC fans.

The club is fucked and it's entirely our own fault. But admitting that would be admitting they've been cheering on those doing the destruction and that ultimately far more to blame than any council, charity or management company are those that still willingly cheer on the destruction of our club because "I don't like Labour" or "I don't trust politicians" or worst of all "I feel really important talking to Tim Fisher". Fucking grow up. We had a chance, we blew it. It's damage control from here on out.

Worded a bit too strongly, but otherwise struggling to find fault with the facts.

 

---

[CJ_covblaze]

I'm very disappointed in the OP. I refuse to take him/her seriously until I and the other 6 board members he didn't list get a nickname.

 

[lordsummerisle]

Fuck me.

I guess it's the council's fault we don't have plans for a new stadium? Or we've filled a fairly expensive team with shit players?

FFS. We really do get the club we deserve.

Any plans to hold the people legally responsible for the wellbeing of the business to account? Or that a little too Occam's Razor for you?

I remember when this forum was about football not politics. We (the club) fucked up. Several on here (Grendel, Torch, Godiva, Nick, LS, etc.) thought they were fucking geniuses because of their bias against the council fucking them over must be good, because, uhhh I dunno.

Remember the laughs of derision when some suggested that if we leave the Ricoh someone else came in? "But we've broken the lease" they shouted! Hurrah, we've done over that nasty council! Remember how the Ricoh as a white elephant that needed us? Remember? Remember how the Council "had to sell the Ricoh for the good of the taxpayers"?

No, of course you fucking don't. Just keep parroting whatever line you're supposed to, don't dare engage your brain.

People saw this coming a mile off. Wasps were specifically mentioned and discounted by the know it alls on here. YOU ALL FUCKING ASKED FOR THIS YOU RETARDS. And yet here you still are trying to make out that somehow it's still all the council's fault.

This side of the argument has been proven wrong at every single turn. The "Smoking gun": wrong. The new stadium plans coming: wrong. Illegal State Aid: wrong. White Elephant Ricoh: wrong. Breaking the lease being good for the club: wrong. Wrong. Wrong. Wrong. And yet still have the gall to come on here day after day acting as if this time they really do know what's going on.

They're idiots. Idiots with a political axe to grind and they always have been. Listen to their rhetoric. not about the club, about the council. That's what they care about, not the club, just making political points. Pathetic and treaturous for supposed CCFC fans.

The club is fucked and it's entirely our own fault. But admitting that would be admitting they've been cheering on those doing the destruction and that ultimately far more to blame than any council, charity or management company are those that still willingly cheer on the destruction of our club because "I don't like Labour" or "I don't trust politicians" or worst of all "I feel really important talking to Tim Fisher". Fucking grow up. We had a chance, we blew it. It's damage control from here on out.

Sisu lover rewrites history again shocker.

 

[Astute]

Sisu lover rewrites history again shocker.

So when did you rewrite history? And no after reading your posts during this fuckfest I wouldn't be shocked in the slightest.

Or are you saying that you were not one of the people that were making the points that he said?

 

[Captain Dart]

I'm very disappointed in the OP. I refuse to take him/her seriously until I and the other 6 board members he didn't list get a nickname.

At least it isn't going to be Dr Strangelove, that's surely reserved for the new 'fans representative' board member.

 

[Grendel]

Sisu lover rewrites history again shocker.

He is more of a council lover to be fair. The realisation that his friends in the town hall are as manipulating and deceitful as his former friends from Mayfair must be a terrible shock - poor chap.

 

[LB87ccfc]

Personally I think everyone is to blame, The Club ( past chairmen/ shareholders), the current owners for fucking everything possible up and making a rod for their own back, the council for never being willing and never having the football club at heart just ££ signs, even the fans as we could of done more and acted faster, alot of fan bases would of that is for sure.

Attendances declining does NOT help yes the football is pretty poor right now, and yes we played fantastic football last year, but with attendances declining when its the only real revenue the club generates then what do we expect.

we shall never be able to invest properly in the playing squad due to FFP now if we don't start getting more bums of seats.

But then it comes down to the sales and marketing team within CCFC, would £15 a ticket generate more interest than £24 a ticket, resulting in more bums on seats, more fans through the doors and spending more money at the ground as a result.


I cannot see us ever seeing SISU leave the club unfortunately, so therefore we are just a ticking timebomb

 

[Astute]

Personally I think everyone is to blame, The Club ( past chairmen/ shareholders), the current owners for fucking everything possible up and making a rod for their own back, the council for never being willing and never having the football club at heart just ££ signs, even the fans as we could of done more and acted faster, alot of fan bases would of that is for sure.

Attendances declining does NOT help yes the football is pretty poor right now, and yes we played fantastic football last year, but with attendances declining when its the only real revenue the club generates then what do we expect.

we shall never be able to invest properly in the playing squad due to FFP now if we don't start getting more bums of seats.

But then it comes down to the sales and marketing team within CCFC, would £15 a ticket generate more interest than £24 a ticket, resulting in more bums on seats, more fans through the doors and spending more money at the ground as a result.


I cannot see us ever seeing SISU leave the club unfortunately, so therefore we are just a ticking timebomb

Nobody can disagree with this. The problem that we have between ourselves is with some who spend all their time either attacking or defending one side. They are all at fault. Some maybe more than others. But we have reached this point because of the actions of all sides. All guilty, none innocent. And the decisions made were not with the best interests of our club.

 

[albatross]

Nobody can disagree with this. The problem that we have between ourselves is with some who spend all their time either attacking or defending one side. They are all at fault. Some maybe more than others. But we have reached this point because of the actions of all sides. All guilty, none innocent. And the decisions made were not with the best interests of our club.

I agree with your post here.

I have only really recently posted more frequently on this board and one thing this comes across to me when looking at the various threads is that.

1) We are anti SISU
2) We are anti CCC
3) We are anti Higgs
4) We are anti WASPS
5) We are anti the CET
6) We are anti Steven Pressley
7) We are anti Steve Waggot
8) We are anti Mr Strange
9) We are ant SBT
10) We are anti Add pretty much any member of our current team
11) We are anti Each other
12) We are anti pretty much every aspect of CCFC
13) we are anti Dialogue
14) we are anti compromise

To an outsider and probably many insiders we are against pretty much everything and Pro nothing.

We can't take an improvement / offer without taking offence at what it might mean in the future. Or it should have been us


there is a real sense on entitlement that comes across, CCFC are a special case! When in reality we are not and will have to earn and fight for anything we get.


For now we have to take what we are given and make the best of it and move on

 

[lordsummerisle]

So when did you rewrite history? And no after reading your posts during this fuckfest I wouldn't be shocked in the slightest.

Or are you saying that you were not one of the people that were making the points that he said?

I also said that Sisu would be a disaster for the club from the moment that they came in, unlike most.

That has now been acknowledged by all, so don't feel the need to go on about Sisu all the time now as I wasn't late to that particular party.

After Sisu, other people's roles needed to be looked at, which is why I have had more focus on CCC/ACL etc on the last couple of years.

Some people have been a bit late to that party too, sadly not fashionably late.

 

[sky blue john]

Fuck me.

I guess it's the council's fault we don't have plans for a new stadium? Or we've filled a fairly expensive team with shit players?

FFS. We really do get the club we deserve.

Any plans to hold the people legally responsible for the wellbeing of the business to account? Or that a little too Occam's Razor for you?

I remember when this forum was about football not politics. We (the club) fucked up. Several on here (Grendel, Torch, Godiva, Nick, LS, etc.) thought they were fucking geniuses because of their bias against the council fucking them over must be good, because, uhhh I dunno.

Remember the laughs of derision when some suggested that if we leave the Ricoh someone else came in? "But we've broken the lease" they shouted! Hurrah, we've done over that nasty council! Remember how the Ricoh as a white elephant that needed us? Remember? Remember how the Council "had to sell the Ricoh for the good of the taxpayers"?

No, of course you fucking don't. Just keep parroting whatever line you're supposed to, don't dare engage your brain.

People saw this coming a mile off. Wasps were specifically mentioned and discounted by the know it alls on here. YOU ALL FUCKING ASKED FOR THIS YOU RETARDS. And yet here you still are trying to make out that somehow it's still all the council's fault.

This side of the argument has been proven wrong at every single turn. The "Smoking gun": wrong. The new stadium plans coming: wrong. Illegal State Aid: wrong. White Elephant Ricoh: wrong. Breaking the lease being good for the club: wrong. Wrong. Wrong. Wrong. And yet still have the gall to come on here day after day acting as if this time they really do know what's going on.

They're idiots. Idiots with a political axe to grind and they always have been. Listen to their rhetoric. not about the club, about the council. That's what they care about, not the club, just making political points. Pathetic and treaturous for supposed CCFC fans.

The club is fucked and it's entirely our own fault. But admitting that would be admitting they've been cheering on those doing the destruction and that ultimately far more to blame than any council, charity or management company are those that still willingly cheer on the destruction of our club because "I don't like Labour" or "I don't trust politicians" or worst of all "I feel really important talking to Tim Fisher". Fucking grow up. We had a chance, we blew it. It's damage control from here on out.

Spot on !!!!

 

[Astute]

I also said that Sisu would be a disaster for the club from the moment that they came in, unlike most.

That has now been acknowledged by all, so don't feel the need to go on about Sisu all the time now as I wasn't late to that particular party.

After Sisu, other people's roles needed to be looked at, which is why I have had more focus on CCC/ACL etc on the last couple of years.

Some people have been a bit late to that party too, sadly not fashionably late.

I give praise when deserved. I have a go when deserved. There has been nothing to give praise for in ages. And I have had a go at all sides. Just because I had a go at SISU years ago it doesn't mean that I shouldn't now. But I will and do defend SISU when someone comes out with blaming them for something that isn't their fault.....even if the path that they took has led us to where we are now. Yet some try to make out that I am biased :facepalm: Those are the ones that constantly bash one side whilst making excuses up for SISU or trying to change history.

 

[James Smith]

Fuck me.

I guess it's the council's fault we don't have plans for a new stadium? Or we've filled a fairly expensive team with shit players?

FFS. We really do get the club we deserve.

Any plans to hold the people legally responsible for the wellbeing of the business to account? Or that a little too Occam's Razor for you?

I remember when this forum was about football not politics. We (the club) fucked up. Several on here (Grendel, Torch, Godiva, Nick, LS, etc.) thought they were fucking geniuses because of their bias against the council fucking them over must be good, because, uhhh I dunno.

Remember the laughs of derision when some suggested that if we leave the Ricoh someone else came in? "But we've broken the lease" they shouted! Hurrah, we've done over that nasty council! Remember how the Ricoh as a white elephant that needed us? Remember? Remember how the Council "had to sell the Ricoh for the good of the taxpayers"?

No, of course you fucking don't. Just keep parroting whatever line you're supposed to, don't dare engage your brain.

People saw this coming a mile off. Wasps were specifically mentioned and discounted by the know it alls on here. YOU ALL FUCKING ASKED FOR THIS YOU RETARDS. And yet here you still are trying to make out that somehow it's still all the council's fault.

This side of the argument has been proven wrong at every single turn. The "Smoking gun": wrong. The new stadium plans coming: wrong. Illegal State Aid: wrong. White Elephant Ricoh: wrong. Breaking the lease being good for the club: wrong. Wrong. Wrong. Wrong. And yet still have the gall to come on here day after day acting as if this time they really do know what's going on.

They're idiots. Idiots with a political axe to grind and they always have been. Listen to their rhetoric. not about the club, about the council. That's what they care about, not the club, just making political points. Pathetic and treaturous for supposed CCFC fans.

The club is fucked and it's entirely our own fault. But admitting that would be admitting they've been cheering on those doing the destruction and that ultimately far more to blame than any council, charity or management company are those that still willingly cheer on the destruction of our club because "I don't like Labour" or "I don't trust politicians" or worst of all "I feel really important talking to Tim Fisher". Fucking grow up. We had a chance, we blew it. It's damage control from here on out.

Okay firstly I'm not defending Sisu and If you've read my previous posts on the subject you'd know that I have been critical of them for not getting the Higgs share as early as possible. I also went on record numerous times as saying that we'd be left high and dry if there were new tenants at the Ricoh. Well look what happened there, I was told that there wouldn't be anyone and now there is. I've said how I thought it was stupid to have everyone talk about Plan A being the new stadium if the real Plan A is getting hold of the Ricoh. It should have been even more obvious after the JR result that attempting to distress ACL wasn't going to work and we should be building bridges not digging trenches and saying how the judge has got it wrong.

I don't really do politics, so talking about left and right, Labour and the Conservatives is pointless really - I think they're all as bad as each other. I don't have an axe to grind with anyone politically because I don't know anyone from the council, and they're not my council. Yes a hell of a lot of the reasons why the council were in the postion to sell to Wasps can be put down to Sisu,. Their wanting to litigate not negotiate moving us to Northampton, making silly claims about a new stadium etc. but the council are not blameless. Only the council however could have increased the terms of the lease that makes ACL more attractive as a purchase. Would Wasps have been so keen if it was still a shorter lease? If they''d contact the council and got the 50+ years take it or leave it would we be having this discussion? Now obviously we shouldn't have allowed the situation to get to the stage where Wasps were able to put a bid in. But there is hypocrisy though in saying you're appalled about something someone's done whilst aiding and abetting someone else to do the same thing. If you make out that you're against the moving of sports teams away from their fans then don't accpet a bid from a team/owner who is doing just that. Don't say this won't affect the other local teams when you haven't spoken to the other local teams because Wasps have had you sign an NDA. Don't make out that this will be great for all concerned when you can't possibly know that.

 

[lewys33]

 

[James Smith]

But wasn't the road map plan thought up by SISU made up with a 125 year lease? And what is the difference between a 125 year lease and a 250 year lease? Both too long to make a difference to our football club and the stadium has a lifespan of about 100 years.

Wasn't the roadmap only produced after the rent boycott had started? So essentially we we had already lost the trust of the council.

 

[Astute]

Wasn't the roadmap only produced after the rent boycott had started? So essentially we we had already lost the trust of the council.

Was just after. SISU tried to say that the non payment of rent was agreed whilst talks were ongoing about the road map. That seemed to be the time that they went on all out attack to distress ACL.

 

[Malaka]

Fuck me.

I guess it's the council's fault we don't have plans for a new stadium? Or we've filled a fairly expensive team with shit players?

FFS. We really do get the club we deserve.

Any plans to hold the people legally responsible for the wellbeing of the business to account? Or that a little too Occam's Razor for you?

I remember when this forum was about football not politics. We (the club) fucked up. Several on here (Grendel, Torch, Godiva, Nick, LS, etc.) thought they were fucking geniuses because of their bias against the council fucking them over must be good, because, uhhh I dunno.

Remember the laughs of derision when some suggested that if we leave the Ricoh someone else came in? "But we've broken the lease" they shouted! Hurrah, we've done over that nasty council! Remember how the Ricoh as a white elephant that needed us? Remember? Remember how the Council "had to sell the Ricoh for the good of the taxpayers"?

No, of course you fucking don't. Just keep parroting whatever line you're supposed to, don't dare engage your brain.

People saw this coming a mile off. Wasps were specifically mentioned and discounted by the know it alls on here. YOU ALL FUCKING ASKED FOR THIS YOU RETARDS. And yet here you still are trying to make out that somehow it's still all the council's fault.

This side of the argument has been proven wrong at every single turn. The "Smoking gun": wrong. The new stadium plans coming: wrong. Illegal State Aid: wrong. White Elephant Ricoh: wrong. Breaking the lease being good for the club: wrong. Wrong. Wrong. Wrong. And yet still have the gall to come on here day after day acting as if this time they really do know what's going on.

They're idiots. Idiots with a political axe to grind and they always have been. Listen to their rhetoric. not about the club, about the council. That's what they care about, not the club, just making political points. Pathetic and treaturous for supposed CCFC fans.

The club is fucked and it's entirely our own fault. But admitting that would be admitting they've been cheering on those doing the destruction and that ultimately far more to blame than any council, charity or management company are those that still willingly cheer on the destruction of our club because "I don't like Labour" or "I don't trust politicians" or worst of all "I feel really important talking to Tim Fisher". Fucking grow up. We had a chance, we blew it. It's damage control from here on out.

The best post I have read on this subject.
SISU fucked about for too long, and I must admit when I was thinking about new owners coming in I did not anticipate egg chasers from London and neither did SISU. SISU fucked about for too long. The majority of us on here do not like them owning our (their) club but I tell you what, I wouldn't trust them as far as I could throw them, why on earth would anyone want to do business with those sharks?
shmmeee is 100% right and the people of Coventry have the club they deserve. No one likes supporting them, everyone takes the piss when I tell them I am going to watch them 'why waste your money?' 'ha ha they are fucking shit' etc etc. Even when we were at Highfield Rd, if I couldn't use my season ticket, no one wanted to use it on more then 10 occasions.
What we need to remember is that there is only a few thousand of us that give a shit. Most people in the football world feel that we over achieved as a football club in the old Division One and the Premier League. We are finding our level and it is painful, unfortunately we have the team and club that we deserve.

 

[Rusty Trombone]

Wasn't the roadmap only produced after the rent boycott had started? So essentially we we had already lost the trust of the council.

From Hickinbottom's judgement.

Discussions continued over the summer. On 25 July 2012, there was a meeting of the
various parties, including the Leader of the Council, Mr John Mutton, at which it was
agreed that an Indicative Term Sheet would be finalised. Draft Heads of Terms were
indeed signed by the Council and SISU, on 2 August 2012. Those more or less
reiterated the principles of the SISU plan I have already outlined, i.e. (i) SISU would
purchase the Higgs Charity’s share of ACL, (ii) SISU would discharge and write off
the Bank loan debt, in return for the lease to ACL being extended to 125 years, and
(iii) rent was to be agreed between CCFC and ACL.

 

[Grendel]

From Hickinbottom's judgement.

Discussions continued over the summer. On 25 July 2012, there was a meeting of the
various parties, including the Leader of the Council, Mr John Mutton, at which it was
agreed that an Indicative Term Sheet would be finalised. Draft Heads of Terms were
indeed signed by the Council and SISU, on 2 August 2012. Those more or less
reiterated the principles of the SISU plan I have already outlined, i.e. (i) SISU would
purchase the Higgs Charity’s share of ACL, (ii) SISU would discharge and write off
the Bank loan debt, in return for the lease to ACL being extended to 125 years, and
(iii) rent was to be agreed between CCFC and ACL.

Why didn't they extend the lease to 125 years anyway?

 

[Rusty Trombone]

Why didn't they extend the lease to 125 years anyway?

I don't know. It would seem to be something they should have done. Maybe they wanted to keep the value of ACL low, so that when the requested offer from SISU came they would be able to accept without being accused of selling too cheaply.

 

[Grendel]

I don't know. It would seem to be something they should have done. Maybe they wanted to keep the value of ACL low, so that when the requested offer from SISU came they would be able to accept without being accused of selling too cheaply.

But it was only the charity part they were selling in your court extract wasn't it?

 

[Rusty Trombone]

But it was only the charity part they were selling in your court extract wasn't it?

I was highlighting the lease extension part, in relation to James' post.

 

[chiefdave]

I don't know. It would seem to be something they should have done. Maybe they wanted to keep the value of ACL low, so that when the requested offer from SISU came they would be able to accept without being accused of selling too cheaply.

Given the price they have sold to Wasps at and the lease extension they have been given I can't see any reason CCC wouldn't have been able to offer similar terms to us. If anything the opposite would be true, CCC could make an argument for selling at below market value to us for the good of the city, that doesn't apply with Wasps.

Would be interesting to know who initiated the 250 years and if any mention of it was ever made to SISU to say that was a possibility.

 

[Grendel]

I was highlighting the lease extension part, in relation to James' post.

But reading all of your extract that's what it says isn't it?

 

[Rusty Trombone]

But reading all of your extract that's what it says isn't it?

Yes, the extract does have other words in it.

 

[Rusty Trombone]

Given the price they have sold to Wasps at and the lease extension they have been given I can't see any reason CCC wouldn't have been able to offer similar terms to us. If anything the opposite would be true, CCC could make an argument for selling at below market value to us for the good of the city, that doesn't apply with Wasps.

Would be interesting to know who initiated the 250 years and if any mention of it was ever made to SISU to say that was a possibility.

You're right SISU should have put an offer in when requested at the end of 2013.

What practical difference does the extra 125 years on the lease mean. What do Wasps get for the extra £1m?

 

[Grendel]

Yes, the extract does have other words in it.

So its says buy the Higgs share for I assume the formula price of around £7 million and discharge the loan - I assume the full. £14 million. So ACL has no liabilities and an extended lease which will significantly raise its value and half is still council owned.

Is that right from your extract?

 

[Grendel]

You're right SISU should have put an offer in when requested at the end of 2013.

What practical difference does the extra 125 years on the lease mean. What do Wasps get for the extra £1m?

What are you on about - the extract said that this was for half share - Muttons hell had frozen over by then hadn't it?

 

[lordsummerisle]

.

What practical difference does the extra 125 years on the lease mean. What do Wasps get for the extra £1m?

You seem to have convinced yourself that a 250 year lease is worthless.

Which is why you won't have it that the offer SISU made for the Higgs share, was better than the one made for the 100% share of ACL.

OSB put it well on another thread.

This 250 year lease.......

I do not understand why the CCC only offered it for the first time now, and to cap that offered it to Wasps. Yes you can question why wasn't it offered to CCFC certainly. But even more fundamental is why didn't ACL have such a lease in the first place ? They paid 21m for just under 50 years...... Wasps get 250 years for a suggested £1m..... doesn't make sense

The consequence for ACL of such a long lease would have meant asset value and stability, the ability for ACL to raise its own finance, no need for CCC loans, ACL sale price better, the likelihood that investors would have been interested from the start in either joint or 100% ownership, proper and meaningful interest from CCFC etc.........

As bad as SISU have been for CCFC I cant help thinking that CCC were just as much hinderance for ACL. Result of those two parties actions being - the complete disaster we have witnessed

 

[Rusty Trombone]

So its says buy the Higgs share for I assume the formula price of around £7 million and discharge the loan - I assume the full. £14 million. So ACL has no liabilities and an extended lease which will significantly raise its value and half is still council owned.

Is that right from your extract?

I think this was still the failed £5.5m offer, and SISU were thinking they could pay £2m-£5m to discharge or take over the loan. So ACL may have a liability to a SISU company for a loan. Yes, the Council would still have their 50% to sell.

 

[Rusty Trombone]

You seem to have convinced yourself that a 250 year lease is worthless.

Which is why you won't have it that the offer SISU made for the Higgs share, was better than the one made for the 100% share of ACL.

OSB put it well on another thread.

You seem to have convinced yourself that I've said a 250 year lease is worthless, which of course, I haven't.

I've seen the offer of £1.5m with an extra £4m unsecured, which was also linked to a bank deal that was destined to fail, and talk of a £2m offer. Which one of those is better?

 

[Rusty Trombone]

What are you on about - the extract said that this was for half share - Muttons hell had frozen over by then hadn't it?

Chiefdave was asking about CCC, not entirely linked to the extract. You seem to be getting yourself confused.

 

[lordsummerisle]

You seem to have convinced yourself that I've said a 250 year lease is worthless, which of course, I haven't.

I've seen the offer of £1.5m with an extra £4m unsecured, which was also linked to a bank deal that was destined to fail, and talk of a £2m offer. Which one of those is better?

Either of those are better than the Wasps offer with the increased lease.

 

[Rusty Trombone]

Either of those are better than the Wasps offer with the increased lease.

haha, ok. I'm sure Higgs are kicking themselves.

 

[lordsummerisle]

haha, ok. I'm sure Higgs are kicking themselves.

Don't think that they had much choice in the matter.

They should certainly have got an awful lot more for a 50% share of a 250 year lease on the Ricoh and surrounding land than they did get.

Of course, neither they, nor the Council had to sell an allegedly profitable enterprise at all, and ACL should have negotiated a much longer lease than they had when the loan was rejigged.

As OSB said, this would have added far more value to the ACL asset, value that would have been in the hands of a local charity and local authority, rather than a London Rugby club backed by a Maltese Financial Services company.

This isn't saying that it should have been sold to Sisu at all by the way, just bad business for local taxpayers and charities.