Positive News for the Academy - Wasps pull out of Higgs (1 Viewer)

SkyBlue79

Well-Known Member
If there is looking like there will be a tighter partnership between AH and CSF it just goes to show what can be done once egos are moved aside and people are honest with there intentions in negotiation.
 

Nick

Administrator
If CSF have got a bit more certainty over City's residency at AH perhaps Wasps have been told they need to offer us more, thus increasing the costs for whatever they want (or accepting a fairer share of facilities) and expediting the need to start whilst they still haven't raised funds. Clearly that can be twisted to not enough room but probably means something different.

I might have dreamt this but isn't the academy now externally funded by one of Hoffman's mates? Some chap from Stratford?

No he just sponsored their shirts.
 

SkyBlue79

Well-Known Member
I meant AH/CSF and City and in relation to Leamington Petes rumour... Too many beers after trying to go for a run this evening.
 

SkyBlue79

Well-Known Member
That's not really him "externally funding" the academy though.
You're getting a bit picky to be fair Nick, ultimately the club have secured some support for the academy and that was what I was getting at.

Which is good news as it's something to be pretty proud of.
 

Nick

Administrator
You're getting a bit picky to be fair Nick, ultimately the club have secured some support for the academy and that was what I was getting at.

Which is good news as it's something to be pretty proud of.

It's not picky, it's just not how you originally worded it as the academy being externally funded by him which is why I just said he sponsors the shirts. (for charity too :) )
 

CCFC54321

Well-Known Member
Ever think that since we’re had a change in personal at the city council that perhaps (just perhaps) that Wasps presence in Coventry is making a few personal uncomfortable and they may be changing there tune with Wasps and an attempt to slowly support CCFC?

Perhaps the council have along with Wasps financial problems (and they have despite what they will be saying) that they refused to financially help Wasps out which I believe they were mumping for money to pay for the redevelopment of the AH Centre.

I just think Wasps are mumping scrounges that have big dreams but want things but on the never never.

I’m always right on these things ... Wasps are in big trouble.
 

dongonzalos

Well-Known Member
Do you believe them?

I am not sure I do to be honest. I think it maybe too big a project for them.
Which I am not sure is a good thing, as I think it is going to consign us to another 5-10 years of not doing much whilst SISU wait to see if they start really struggling financially. Then if they actually do I still don’t see ACL ending up in SISU’s hands and our club stagnates and declines for longer whilst totally wasting time again. Hope I am wrong but that’s the way I see it possibly going.
I know you won’t want hear this but it would be better if Wasps now do build a training centre elsewhere.
 

Astute

Well-Known Member
We have now reached the period that some of us were talking about when this fiasco started.

The arena isn't making them the money they hoped. Ha ha. What a surprise.

IIRC the bonds were for £35,000,000 @ 6.5%. This means repayments of £2,750,000 a year. This is just interest alone. Richardson took out 10m of the 20m he was owed. So I can't see him wanting to put it back in.

So where are they going to get this near 3m a year from?

7m for a training ground? They maxed out what they could raise.

They took the gamble on being the top egg chasing club in the UK. But I could never see it working moving so far away from their fan base. But whatever happens Richardson is 10m better off. Was that the main reason for the move?

Does the training ground being dropped mean they could be looking at leaving?

A good bit of news at last.
 

CCFC54321

Well-Known Member
We have now reached the period that some of us were talking about when this fiasco started.

The arena isn't making them the money they hoped. Ha ha. What a surprise.

IIRC the bonds were for £35,000,000 @ 6.5%. This means repayments of £2,750,000 a year. This is just interest alone. Richardson took out 10m of the 20m he was owed. So I can't see him wanting to put it back in.

So where are they going to get this near 3m a year from?

7m for a training ground? They maxed out what they could raise.

They took the gamble on being the top egg chasing club in the UK. But I could never see it working moving so far away from their fan base. But whatever happens Richardson is 10m better off. Was that the main reason for the move?

Does the training ground being dropped mean they could be looking at leaving?

A good bit of news at last.
I know if I was hosting an event/business function I wouldn’t be using the Ricoh until we drive wasps out of this city.

Any Coventrian should do the same.
 

dongonzalos

Well-Known Member
I know if I was hosting an event/business function I wouldn’t be using the Ricoh until we drive wasps out of this city.

Any Coventrian should do the same.

NOPM?

I don’t go to anything to do with Wasps to be honest. Not as a moral stance but just have absolutely no interest in them.
However if a band I really wanted to watch planned a gig at the Ricoh and suited me I would go.
I don’t give a rats ass about Wasps in either a positive or a negative way.
 

hill83

Well-Known Member
NOPM?

I don’t go to anything to do with Wasps to be honest. Not as a moral stance but just have absolutely no interest in them.
However if a band I really wanted to watch planned a gig at the Ricoh and suited me I would go.
I don’t give a rats ass about Wasps in either a positive or a negative way.

Would you actually go though?
 

Ricketts

Well-Known Member
If the bonds were offering 6.5% for £35,000 then it means they are not very secure.

For a secure investment that is a fantastic return, I would have had half a dozen of those.
 

Grendel

Well-Known Member
If the bonds were offering 6.5% for £35,000 then it means they are not very secure.

For a secure investment that is a fantastic return, I would have had half a dozen of those.

The stadium is the security.
 

Kingokings204

Well-Known Member
The bonds need to be paid in full by 2022? The 33-35m. I think that’s right.

They will simple refinance this agreement.

They won’t sell the stadium before then sadly. I can’t see how they won’t be here for many more years.
 

Houdi

Well-Known Member
Slightly off topic but John Sharpe the Coventry Rugby spokesman today confirmed on local radio this morning that they will never agree a deal with CCFC on a ground share at the Butts whilst the club is owned by SISU. I believe the full interview is being included in the rugby show at 6 tonight. From what he said it seems pretty clear they wouldn't even entertain a deal with SISU,even if they dropped there legal actions,because of the toxic attitude in Coventry to SISU.
 

jimmyhillsfanclub

Well-Known Member
Slightly off topic but John Sharpe the Coventry Rugby spokesman today confirmed on local radio this morning that they will never agree a deal with CCFC on a ground share at the Butts whilst the club is owned by SISU. I believe the full interview is being included in the rugby show at 6 tonight. From what he said it seems pretty clear they wouldn't even entertain a deal with SISU,even if they dropped there legal actions,because of the toxic attitude in Coventry to SISU.

this may shortly need its own thread.......
 

Captain Dart

Well-Known Member
So to summarise, no one in Coventry can raise money for sports facilities, except the council which is investing in swimming and water sports.
 

Joy Division

Well-Known Member
Whilst reading this thread with interest I noticed a reference to SKYBLUES talk, so I thought check out what the footballers have to say! What a mistake, I have never read so much hate filled bile in my days. Everything that has ever gone wrong in Coventry is blamed on Wasp,s in fact I was surprised they didn't even try and say Hitler was a wasps fan and done the cathedral on purpose to spite them. Was CCFC not already in financial difficulties before Wasps even came on the scene? Do CCFC rent the Ricoh for matches and Wasps agreed not to chase them for outstanding payments? personally I would love to just slag the footballers off but what would that achieve apart from sully the Wasps name. If the CCFC fans want to believe rumours then fine that is their choice but I will continue to have faith in the Wasps hierarchy as up to this point I feel they have done a bloody good job. Personally wasn't overjoyed at the move to Coventry but realized it was in the clubs best interest and that is what matters most.

rant over

Another fascinating insight into our insect friends. The Hitler reference is incredible, what a complete idiot.
 

Captain Dart

Well-Known Member
The council are borrowing the money as well so they can't afford it either.

Sent from my SM-G935F using Tapatalk

But they can raise the money, which is what I said, plus they can simply increase the council tax to finance it (within Gov't limits) or cut something less important.
 

rupert_bear

Well-Known Member
Don’t get all this Wasp talk ! Let’s concentrate on ccfc ffs!
With this announcement from Wasps I see a number of possible scenarios, one with the proposed sale of Ryton held up I believe by the the sports foundation until our owner identifies an alternative venue,we’ll as I see it there now is one, the Alan Higgs venue, surely now we can move our training ground there lock, stock and barrel everything is there thus allowing sisu to get their £5million or whatever for Ryton.

Scenarios 2, puts our beloved council back on the block. They’ve just announced a proposal to build their 50mm swimming pool at AH which would demolish the indoor pitch which is a nescesity for our Acadamy to keep its cat2 status. There’s loads of land there to build it’s wish for swimming facility elsewhere without destroying the essential indoor pitch, can they really see sisu or whoever else building another.

Scenario 3 As I see it this Wasp decision puts the onus on our future in sisu’s hands they should now come out of the shadows and tell us fans what’s its aims and ambitions might be, our Ricoh future still to be decided, less than 6 months to go on that one fast coming to squeaky bum time. Also with a first class training facility which AH is or could be the ccfc value surely increases, will that make them look to sell ? Could that attract interest to buy, I also think regards the Ricoh an opportunity to buy into it percentage wise is there, interesting times ahead me thinks
 

clint van damme

Well-Known Member
Slightly off topic but John Sharpe the Coventry Rugby spokesman today confirmed on local radio this morning that they will never agree a deal with CCFC on a ground share at the Butts whilst the club is owned by SISU. I believe the full interview is being included in the rugby show at 6 tonight. From what he said it seems pretty clear they wouldn't even entertain a deal with SISU,even if they dropped there legal actions,because of the toxic attitude in Coventry to SISU.

so CRFC have confirmed what they'd already confirmed?!
 

Captain Dart

Well-Known Member
Don’t get all this Wasp talk ! Let’s concentrate on ccfc ffs!
With this announcement from Wasps I see a number of possible scenarios, one with the proposed sale of Ryton held up I believe by the the sports foundation until our owner identifies an alternative venue,we’ll as I see it there now is one, the Alan Higgs venue, surely now we can move our training ground there lock, stock and barrel everything is there thus allowing sisu to get their £5million or whatever for Ryton.

Scenarios 2, puts our beloved council back on the block. They’ve just announced a proposal to build their 50mm swimming pool at AH which would demolish the indoor pitch which is a nescesity for our Acadamy to keep its cat2 status. There’s loads of land there to build it’s wish for swimming facility elsewhere without destroying the essential indoor pitch, can they really see sisu or whoever else building another.

Scenario 3 As I see it this Wasp decision puts the onus on our future in sisu’s hands they should now come out of the shadows and tell us fans what’s its aims and ambitions might be, our Ricoh future still to be decided, less than 6 months to go on that one fast coming to squeaky bum time. Also with a first class training facility which AH is or could be the ccfc value surely increases, will that make them look to sell ? Could that attract interest to buy, I also think regards the Ricoh an opportunity to buy into it percentage wise is there, interesting times ahead me thinks

Scenario 1 - sure SISU will realise this asset (Ryton), its what they do.
Scenario 2 - CCC plan to let Wasps build a new indoor facility fallen down because Wasps have no money. CCC are nothing if not inflexible.
Scenario 3 - SISU will just rent on short term deals and leave any problems to new owners when they exit. They will never build anything, never have never will.
 

Astute

Well-Known Member
Don’t get all this Wasp talk ! Let’s concentrate on ccfc ffs!
With this announcement from Wasps I see a number of possible scenarios, one with the proposed sale of Ryton held up I believe by the the sports foundation until our owner identifies an alternative venue,we’ll as I see it there now is one, the Alan Higgs venue, surely now we can move our training ground there lock, stock and barrel everything is there thus allowing sisu to get their £5million or whatever for Ryton.

Scenarios 2, puts our beloved council back on the block. They’ve just announced a proposal to build their 50mm swimming pool at AH which would demolish the indoor pitch which is a nescesity for our Acadamy to keep its cat2 status. There’s loads of land there to build it’s wish for swimming facility elsewhere without destroying the essential indoor pitch, can they really see sisu or whoever else building another.

Scenario 3 As I see it this Wasp decision puts the onus on our future in sisu’s hands they should now come out of the shadows and tell us fans what’s its aims and ambitions might be, our Ricoh future still to be decided, less than 6 months to go on that one fast coming to squeaky bum time. Also with a first class training facility which AH is or could be the ccfc value surely increases, will that make them look to sell ? Could that attract interest to buy, I also think regards the Ricoh an opportunity to buy into it percentage wise is there, interesting times ahead me thinks
Even you had to mention Wasps a couple of times :smuggrin:
 

letsallsingtogether

Well-Known Member
The stadium is the security.
There lies the problem.
They would have to sell it for a big profitt to secure any money to pay back thier their creditors.
The only ones intrested in owning it don't want to pay.
It seems who ever owns it is fucked.
 

dongonzalos

Well-Known Member
Would you actually go though?

I Would listen to it live on radio 2 of course, in full not missing a minute. Then I would watch the highlights that night. Also I would read all the reviews from experts about the gig.
Then I would get into a debate with someone who actually went to the gig but their view kept getting obscured, then they were at the bar and the toilet missing most of one of the songs. Also they were so far away from the band they struggled to see properly.
Then I will lose said debate with because ‘they were there’ ;);)
 
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Captain Dart

Well-Known Member
There lies the problem.
They would have to sell it for a big profitt to secure any money to pay back thier their creditors.
The only ones intrested in owning it don't want to pay.
It seems who ever owns it is fucked.
34433194.jpg

With apologies to Samuel Taylor Coleridge
 

dongonzalos

Well-Known Member
Scenario 1 - sure SISU will realise this asset (Ryton), its what they do.
Scenario 2 - CCC plan to let Wasps build a new indoor facility fallen down because Wasps have no money. CCC are nothing if not inflexible.
Scenario 3 - SISU will just rent on short term deals and leave any problems to new owners when they exit. They will never build anything, never have never will.

Scenario 3 whilst watching Wasps and doing everything they can possibly do to make life financially difficult for them.
When eventually Wasps decide to sell the business up to anyone apart from SISU abd we start again.
 

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