New stadium no further forward (8 Viewers)

[The Gentleman]

Guess you can't read (or maybe miss understood) ACL had 40yrs but the deal with Wasps is ONLY 20yrs.

Still expect 'sting in the tail'!

Sorry RFC but I think you're wrong again, Tisza is a bloke......

 

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[Rusty Trombone]

They've shifted that debt, not made a killing.

What happens if Wasps default on it over the next 20yrs? (bearing in mind of course they have a 250yr lease).

The loan hasn't been confirmed as 20 years has it? Also I don't think there's any confirmation of the lease being extended, wasn't this a question that Reid asked in his Cov Observer piece, but an answer not given?

 

[tisza]

Guess you can't read (or maybe miss understood) ACL had 40yrs but the deal with Wasps is ONLY 20yrs.

Still expect 'sting in the tail'!

i haven't seen any confirmation of les reid's claim that the term and amount of the loan had been reduced.just going off the last published accounts including the post balance events notes.

 

[robbiethemole]

with the naming rights up for renewal this year, if the shirt sponsors JLR takeover the stadium, wont that money go into the Wasp's coffers. Estimated figure for naming rights c £20m. That will clear the loan and leave money in the bank.

 

[tisza]

with the naming rights up for renewal this year, if the shirt sponsors JLR takeover the stadium, wont that money go into the Wasp's coffers. Estimated figure for naming rights c £20m. That will clear the loan and leave money in the bank.

wasn't the deal extended to 2025 a couple of years ago?

 

[Grendel]

with the naming rights up for renewal this year, if the shirt sponsors JLR takeover the stadium, wont that money go into the Wasp's coffers. Estimated figure for naming rights c £20m. That will clear the loan and leave money in the bank.

Unlikely -- it will go straight into the owning clubs coffers -- why on earth would they want the holding company to have anything but debt against it?

 

[SkyblueBazza]

LOL Wasps owned by a hedge fund, sometimes better the devil you know!

The BIG difference is that Wasp's Hedge Fund owners have taken positive & wealth creating actions to make a success of the Club. CCFCs have taken negative & wealth destructive actions to try to ruin a third party so they can get a cheap asset for theirselves.

PUSB

 

[Deleted member 5849]

wasn't the deal extended to 2025 a couple of years ago?

Reported as such in the Cov Observer, unconfirmed by anybody official.

 

[Rusty Trombone]

wasn't the deal extended to 2025 a couple of years ago?

http://www.coventrytelegraph.net/news/coventry-news/ricoh-arena-sponsors-hope-see-7108507

The original deal is thought to expire in 2015 after a ten-year deal was announced in 2005. But both the Ricoh firm, and stadium operators ACL, now refuse to confirm the length of the deal currently in place.


However, Chas Moloney, Ricoh UK’s head of marketing, said there were options ‘on both sides’ to extend the deal in the future.

 

[Neutral Fan]

I don't think a phoenix club will work if the old one is in existence or not. There's too much apathy and of the people who can still be bothered how much appetite is there to start right at the bottom again?

AFC Wimbledon managed it fine when they were franchised out of existence.

I don't understand why your Trust hasn't set up formal links with AFC. Their experience could be invaluable if SISU lead you into total ruination.