That was clearly a joke made in court not during negotiations. Fact is the charity didnt really have a say in who they sold to. The veto always applied.
Joke in court ?
You really are in denial.
Have you ever read the court judgement ?
Not a joke it was quoted a couple of times by Tim at our meetings with him.That was clearly a joke made in court not during negotiations. Fact is the charity didnt really have a say in who they sold to. The veto always applied.
Love it how you only post now when your beloved council or even more beloved wasps are challenged by 6 CCFC fans.
I wouldn't know. Wasn't for Higgs to decide anyway. How have wasps paid for the Higgs share? Is that up front or over several years? Do you know?
Love it how you only post now when your beloved council or even more beloved wasps are challenged by CCFC fans.
Joke in court ?
You really are in denial.
Have you ever read the court judgement ?
Not a joke it was quoted a couple of times by Tim at our meetings with him.
Funny he used to phone us every week and meet us for a pint at least once a month while we were at Northampton.
Used to give us the old dear John every time
I think he doesn't love us anymore
i didn't know courts are for comedy - although the baloongate was not bad with Higgs in the dock explaining that it was placed and not tied. The charity payment was just a get out having tried to say it was worthless. The same as ML saying how generous Joy was to pay her share of the costs ( the judge said she would have had to pay anyway ). Just crap from SISU - not real comedy, but you still have to grin...
My beloved Wasps and Council? Are you two years old or something?
So did SISU come back with the guarantees or not? You're not trying to dodge the question are you?
No but I did think it was only a million....No I don't know the answer. They offered a cash deal. Last seemed unaware so I reminded him.
Well, he may not love you anymore, but he's done his job and filled you with your sense of self importance.Not a joke it was quoted a couple of times by Tim at our meetings with him.
Funny he used to phone us every week and meet us for a pint at least once a month while we were at Northampton.
Used to give us the old dear John every time
I think he doesn't love us anymore
Leggatt J found (at [31]) that the Trustees did not wish to pursue the negotiations
further, because they knew the Council was not prepared to consent to the sale of the
shares to SISU, and was pursuing an alternative strategy which they (the Trustees)
supported (a matter to which I shall return). However, he also found that the
irreconcilable differences between the SISU and the Higgs Charity included:
i)
Following due diligence, SISU did not wish to offer the price set out in the
Indicative Term Sheet, being willing to offer only closer to £2m than £5.5m.
This difference between the price SISU were prepared to offer and the price
the Trustees were prepared to accept was (a) irreconcilable and (b) in itself, a showstopper
So, Higgs knew that the council wouldn't agree to them selling half their share to Sisu, and an offer closer to £2million than £5million was a "showstopper".
Not when Wasps came along it wasn't.
Don't forget there were also conditions attached by Sisu which included a buy out of the ACL loan which we now know would not have been accepted by the Bank.
Of course.
Could buy it without owning 5% too of course. Doubt that would make much difference to the freeholders if we owned 5%... plus if it were the Wasps stadium company that went pop, that we owned 5% of, we'd be losing that money too.
The big danger, of course, is that which was mooted when the SISU vultures were circling... that Wasps rugby would fail but the stadium agreement to lease from CCC would still be valid for centuries.... so any deal could turn into the Ron Noades-esque grasp on Selhurst Park.
The fact is Italia that as long as Wasps are running the show the club is not on a level playing field with most of our fellow league clubs who keep every penny that they generate on a matchday. Wasps will only want to keep us at the Ricoh if there is a financial incentive for them otherwise there is no point. The pitch deteriorates faster, they have to pay out more in staffing the place on a matchday and so on. So with this being the case the club is operating with one arm behind its back and does not have a cat in hell's chance of competing at Championship level if it were to ever get back.
The big problem we face is that, as others have pointed out, the alternative is to build a ground elsewhere, probably outside of the city, which is going to cost enormous sums and take a huge amount of time. It is not in Wasps' interests for us to become so successful that we don't need them and become the main sporting attraction.
The way I see it, the only solution to make things viable in the long run is for Wasps to trade part ownership in ACL for part ownership in CCFC/Otium. eg sell CCFC access to their revenue streams and "free" rent, in return for running costs and a share in CCFC - which could potentially be worth lots if the club was successful again. Figuring out how any of that would even begin to work is well beyond my scope, but has to be better for both sides than the alternatives.
Know we are talking sense.
Just need to wait for Sisu to get over the legals and start realistically working out our future.
Sounds good to me, we could be owned by 2 hedge funds that love moving teams and bullshit fans rather than 1. Dream team.
Know we are talking sense.
Just need to wait for Sisu to get over the legals and start realistically working out our future.
Race to the bottom for you then ?
Day 3 of the second test here on skybluestalk, the teams will going for lunch in 30 minutes before commencing the final session of the day and then ready to do it all again tomorrow.
Great post OSB...always good when someone brings facts to the table, rather than a lot of the petty squabbling /point scoring that often goes on.
Can't see the legal route working but it will be going on and on and on for another 3 to 5 years I think.
Then after that we are waiting for either Wasps or CCFC to go into administration.
Tragic.
There's only 6 of us though and all other CCFC supporters want us to move on. It's going to be a long battle as the opposition have got 10,994 bowlers to choose from.
At last you have seen the lightThere's only 6 of us though and all other CCFC supporters want us to move on. It's going to be a long battle as the opposition have got 10,994 bowlers to choose from.
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