Bob Ainsworth on ACL sale to Wasps (2 Viewers)
- Thread starter TheRoyalScam
- Start date
stupot07
Well-Known Member
It's funny really, had the loan come from, say Barclays Bank, you wouldn't even be talking about the £14m, you certainty wouldn't be suggesting they'd paid £19m for ACL.
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oldskyblue58
CCFC Finance Director
this is only a personal opinion but I doubt it ....... I think it was just spin to deflect attention and make sure it was someone elses fault that he/they messed up
CCC already have a charge over all ACL assets and the lease reverts to them on default
Grendel
Well-Known Member
I see. So the fact that some electricity company gets paid every time the floodlights come on means that the electricity company gets a share of ACL income.
Okaaaay
Why not? buying half of ACL with acl still having the loan is far far superior to any plans they have of building a stadium, yes it's clear a year later after further distressing and loss of value due to the main tenant breaking there lease and playing in northampton that it was possible to get it cheaper. But one things for damn sure the actions they took are an order of magnitude worse than going through with that deal (which as far as I'm aware didn't involve acl still having the 14mill loan, they thought they could get the bank to drop it for a couple of mill)
albatross
Well-Known Member
Yes as an operating expense , the same way they gat a share of your income when the bill you for what you have used
Grendel
Well-Known Member
Why not? Because a Maltese hedge fund bought the lot for less and ACL don't have the loan the taxpayer does.
It's funny really, had the loan come from, say Barclays Bank, you wouldn't even be talking about the £14m, you certainty wouldn't be suggesting they'd paid £19m for ACL.
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Thats not true, if you buy a failing company for £1 with debts attached the amount of those debts is always discussed and relevant.
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I already commented on the fact its clear in hindsight that it could be brought for less a year later after a massive distressing effort that hurt us more than it hurt them.
Do you really think we are better off now than we would have been buying Higgs for 5.5mill or whatever was offered?
It's funny really, had the loan come from, say Barclays Bank, you wouldn't even be talking about the £14m, you certainty wouldn't be suggesting they'd paid £19m for ACL.
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If Wasps had paid off the loan in cash received from Barclay's Bank, they would have paid 5,54m plus 14m of ACL's liabilities. It would be clear cut. The council could say we have our loaned money back, 14m from ACL as part of the deal, plus 5,54m = 19,54m. Great. ACL would then pay Barclay's back. A much clearer situation.
Grendel
Well-Known Member
It's not a debt it's an operating cost - the council owe the debt.
The 14m is a liability of ACL, I don't think there is much wrong with using the word debt, it's much more accurate than describing the 14m as an operating cost imo.
Anyway family just arrived for the weekend so you may have the last word.
Yes. It's comes under operating costs - utilities ( I am not sure if that is the right term in English as my accounts are in German ).
I thought the council was the creditor and ACL the debtor.....
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Confused ? I certainly am . How do the council owe the debt . I thought ACL owed the debt to the council .
Grendel
Well-Known Member
ACL are paying a cost of a loan. If ACL default and the company goes into administration where does the loan sit?
olderskyblue
Well-Known Member
Thanks fook for that. I didn't think this thread would ever get round to it all being Tim's fault...
As with most taxpayers cash that is missused it will probably get written off
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The liability is with ACL and the creditor will have to take action to recover the debt.
Thanks fook for that. I didn't think this thread would ever get round to it all being Tim's fault...
Eyes on the prize OSB;-)
olderskyblue
Well-Known Member
Grendels alter ego outed at last..!!
me and my two accounts......
D
Deleted member 5849
Guest
I really wish 'public interest' hadn't reduced to base economics, and we could actually deal with identity, heritage, tradition, and a wider definition across the globe about what a place *is*.
Next we'll be blowing up statues of Buddha as false idols.
Next we'll be blowing up statues of Buddha as false idols.
Brighton Sky Blue
Well-Known Member
The Mrs has just written a dissertation on precisely this, in relation to our stay at Sixfields. Can e-mail it to you if you like!
chiefdave
Well-Known Member
I see, that's why nobody ever referred to Hoffman's offer as only being for £1 is it?
If we're adding future outgoings to the cost of purchasing ACL why are we not deducting future income?
J
Jack Griffin
Guest
Old hat.
Grendel
Well-Known Member
And its worth £10 as the house has community charge, utility bills, water bills and you don't increase the value due to those costs - they are part of the purchase.
J
Jack Griffin
Guest
Bloody hell, I hope you haven't bought a house. Sounds like a stupid idea. At least SISU haven't been silly enough to buy property.
No, it really isn't.