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Good point.

We got our transfer fee back for Bellamy. The worst signing has to be someone we paid a lot for; paid high wages; was crap and then lost money on departure. Kyle was worse.

This is how I imagine it would work, if CCFC has terms in the contract for payments on future sales. I don't know if they do, so conjecture follows. CCFC has a contract with Norwich for a cut of future sales. I would imagine the cut is on the profit of future sales (so CCFC don't get paid on...

Oxford; Wimbledon.

Clearly I don't know. However, it was said at the time of the sale that we retained an interest in his career. I'm overstepping by stating that it will be larger - but £70m is a lot of money and a small percentage, even of Leicester's reported £50m profit, adds up.

How do you know the terms of the sell on clause? What if it's 10% of first sale profit and 5% of next sale, forcing Norwich to ask for 15% knowing we get 5%? It'll be what's in the contract, and we don't know that.

Liverpool now being linked to Maddison and the price touted as £70m. Leicester rumoured to have paid £20m. If we do have the sell on rolling forwards then we'll get more from this sale than if Wilson gets sold for £35m. If they both go, Robins will have very heavy pockets.

Is e patience the ability to be calm when internet speeds are slow?

Read an interesting story today in the newspaper: nurseries no longer use the naughty step and will not call a child naughty: https://www.daynurseries.co.uk/news/article.cfm/id/1611585/nurseries-ban-word-naughty-ditch-naughty-step

Hiwula scored 12 in the league from just 35 games - most from the wing. It took a while to gel as he was new. It's not hard to imagine that he can score 15+ next season. Maybe still from the wing...

I think you have a cheek. You call us wankers, publish it on your website, then come onto our website trying to claim the higher ground because you want something from us. I've read 'How to Win Friends and Influence People' and don't recall anything in there about calling people wankers before...

Didn't realise - I assumed that this was a normal nice person and don't like assuming people are bad or fit a stereotype. I'm deleting my review and you don't have permission to use it. "Their fans have been wankers whenever we’ve faced them so it’s difficult to have any sympathy for them...

Oh - one more thing. Secured by the Ricoh lease doesn't mean SISU get the Ricoh if they buy all the bonds. It just means that if Wasps default, this other company has provided a guarantee.

They cannot accumulate a large amount secretly. Once they breach certain percentages of the issue they have to report it to the exchange. That's what I was looking for on LSE - but there's nothing. Buying Wasps bonds would be possibly something they might do as a hedge only: so they make...

Off book just means that the trade didn't go through the exchange. Most trades go through market makers, who quote a price to buy (bid) and to sell (offer) simultaneously - so there is liquidity in the market for the issue. The price quoted *27,000 * 100 will be the amount paid + any interest...

The price is falling because of increased credit risk - short term interest rates haven't moved that much since January - when the price started to fall. As you said I think, they are secured against the company holding the Ricoh. However I can see no evidence that SISU has been buying them.

Can you tell me the ISIN and I'll take a look?

Not usually. There are different types of bond but the most common is fixed interest. The issuer, with their advisers, decide what the interest rate will be (it's called the coupon). Let's say 6.5% as you say. It then gets sold into the Primary Market. Depending on demand, buyers may not...

Thinking a bit more about this - if SISU is buying Wasps' bonds it's almost certainly a hedge: - If SISU wins the EU case they are quids in. - But if they lose, the value of Wasps' bonds will rise - because all other things being equal, the Wasps credit risk will decrease.

Which bonds are SISU buying? I assume from the context that these are Wasps' bonds? I've missed this story - do you have a link? When you say that the bonds are trading at a discount I assume that you mean to par value? This is very normal in the bond markets: the strike price moves as...