Bob Ainsworth on ACL sale to Wasps (1 Viewer)
- Thread starter TheRoyalScam
- Start date
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).
fernandopartridge
Well-Known Member
If the deal is clearly in the public interest surely the council will have no qualms in disclosing the detail.
fernandopartridge
Well-Known Member
Bob says no intent to sell before 12/13. Contradicts the nonsense in court about a long term interest as a shareholder once again.
rondog1973
Well-Known Member
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.
Evo1883
Well-Known Member
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
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
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fernandopartridge
Well-Known Member
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.
lordsummerisle
Well-Known Member
Baked beans and weed on the school dinners menu then?
You could probably run an engine on those fumes then take a long trip
Bit like the football club tbf
fernandopartridge
Well-Known Member
Indeed. The council were to be repaid the loan by the old ACL. It's repaying a debt.
italiahorse
Well-Known Member
The Ricoh is our home and it's in Coventry !!
... it won't be if Sisu continue their fight through the courts.
torchomatic
Well-Known Member
italiahorse
Well-Known Member
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.
fernandopartridge
Well-Known Member
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.
I think he will first need to graduate from OSB's online course in forensic accounting.
i am sure they will - as soon as they are not threatened by more litigation. Until then "mum's the word".
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.
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.
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.
Grendel
Well-Known Member
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.
It's not a criminal case, is it?
It's political and the politicians really shouldn't hide behind sisu.
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"
Grendel
Well-Known Member
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.
The Valuation of a property (well a company anyway which is what we are talking about) absolutely includes the loans against it, your house valuation doesn't take into account the mortgage against it because the mortgage won't come with the house. If you set up a company, put a house in it and a mortgage and nothing else the value of the company would be approximately the house value - the mortgage, ie the equity.
A masonic lodge wouldn't be under constant threat of litigation from our owners.
Grendel
Well-Known Member
What's the shareholder value of ACL? £5 million or £19 million - what was the value of the shares Higgs held?
Grendel
Well-Known Member
So the council do have something to hide that they are concerned may be aired in a court of law?
Interesting.
shy_tall_knight
Well-Known Member
Apparently Grendel has a good job imagine if he went to his bosses saying I've just secured a 250 year lease on a stadium for only £5m and you bought on that basis would be a bit of shocker when the invoices for the loan £14m loan interest started to arrive, its £19m purchase price however you want to spin it. You need to move on SISU have fooked this club possibly beyond repair, you need to aim more of rants in their direction, WASPs are here to stay, the council have washed their hands of us time to move on
No. I am not a criminal either btw. I have dealings with councils, tax authorities, customs authorities, employment courts - you name it. The advice is always the same. Say nothing unless it is required by law. The council is a public body and under scrutiny anyway. One day we will get to know at least some of the details, but not until SISU have finally lost - if they go to Europe on this, that will be in years to come. JS chose the word sisu as company name and now she is showing that she meant that she has "Sius".