All those wishing Ann Lucas gets her comeuppance at the next local elections should consider that it won't make a blind bit of difference who they replace her with, as whoever replaces her will have voted to sell to Wasps too.Thats my view too, the fact the conservatives backed it instead of the usual always disagree with the opposition and score cheap political points suggests strongly to me that however much we dislike it that (at least in their honest opinion) it was the best thing for the city (unfortunately not for us).
All those wishing Ann Lucas gets her comeuppance at the next local elections should consider that it won't make a blind bit of difference who they replace her with, as whoever replaces her will have voted to sell to Wasps too.
Indeed. You might even end up with the Student Grant who acts as the council finance member. Using his experience as a student to manage a multi million pound budget.
Baked beans and weed on the school dinners menu then?
“So when Wasps offered to buy, agreeing to take on the debt, shorten the repayment period for the loan and pay an additional £5.54million – a total of £19.94m plus interest – the council had no reason to believe that Sky Blues’ owners, Sisu, would match the deal.
More spin.
Wasps paid £5.5m for the shares to take over ACL. The loan still remain with ACL and it's the business of ACL that will service the loan.
The figure £19.94m plus interests is pure nonsense in terms of take-over value.
Yes of course , it made sense to all the people of Coventry that had either never set foot in the stadium ,or never gave it a second thought, but the taxpayers blah blah,what a load of dribble , they waste thousands everyday on needless garbage .
Amazing how many on here aswel know what's best for Coventry that don't even live here.
Think it's about time Coventry fans started backing Coventry city , instead of acting like second rate politicians that think they know what every taxpayer in the city wants.
dont let your hatred for sisu blind you , once they are gone and we look forward to the future , we will still be a football club , without a fucking home in our own city
More spin.
Wasps paid £5.5m for the shares to take over ACL. The loan still remain with ACL and it's the business of ACL that will service the loan.
The figure £19.94m plus interests is pure nonsense in terms of take-over value.
More spin.
Wasps paid £5.5m for the shares to take over ACL. The loan still remain with ACL and it's the business of ACL that will service the loan.
The figure £19.94m plus interests is pure nonsense in terms of take-over value.
If the deal is clearly in the public interest surely the council will have no qualms in disclosing the detail.
Won't loan payments effectively come out of Wasps profits from ACL ?
I would have thought BA would push for an independent investigation - after all he was very loud when he called for openness during the clubs administration.
No doubt Simon will ensure BA is updated...
If the deal is clearly in the public interest surely the council will have no qualms in disclosing the detail.
Won't loan payments effectively come out of Wasps profits from ACL ?
i am sure they will - as soon as they are not threatened by more litigation. Until then "mum's the word".
The local labour party are closing ranks to protect Ann Lucas.
The guff about the fact that Lucas and Mutton don't get on but voted the same way is contemptuous.
Why can't they disclose anything until the litigation is over? Are there details sisu can use as evidence?
Yes, but the fact that all - yes all - councillors voted for it shows how bad SISU screwed any chance of this club getting the Ricoh by direct means for the next 250 years. That alone damns them in my opinion. So, go on talk about a stadium in Nuneaton, talk about the play-offs, talk about the pie money, but leave the third parties out of it. The buck stops with SISU.
Of course they will - one way or another Wasps are paying over 19m. TF said that was why he didn't want the Wasps deal - exactly because the loan was in effect a a part of the price and he doesn't think ACL is in the position to service it. Saying 5,5m was the end of it, is just pure spin.
Who knows? My lawyers always say, "say nothing unless you have to". Good policy when your every move is being monitored by a team of expensive lawyers.
Not voting 'for' the sale would have been political suicide.
For the Labour councillors perhaps but the fact the conservatives voted for it pretty much guarantees they all thought it was the right thing to do and no whiping was necessary despite the Les Reid "facts"
The value paid was £5.5 million. If you saying the loan needs to be factored in so will any other contracts they take on. The valuation of a property does not include any loans against it.
The value paid was £5.5 million. If you saying the loan needs to be factored in so will any other contracts they take on. The valuation of a property does not include any loans against it.
How would we know - the whole transaction was completed in total secrecy - a Masonic lodge would be more transparent than them over this deal.
Really. Try buying the Ricoh for 5,5m and without the loan. Don't work like that. SISU wanted to clear the YB loan as part of their purchase price. They obviously linked the two together.
A masonic lodge wouldn't be under constant threat of litigation from our owners.
Really. Try buying the Ricoh for 5,5m and without the loan. Don't work like that. SISU wanted to clear the YB loan as part of their purchase price. They obviously linked the two together.
It's not a criminal case, is it?
It's political and the politicians really shouldn't hide behind sisu.