They've got TV money to worry about as well. Plus they've taken the money up front from CVC who potentially get 27% of future TV income now.
The EU complaint also came as news to everybody. That's definitely negotiating in bad faith, saying we've stopped everything, but then coming up with that (and the timing of the reveal was... interesting!).
I'll bow out now before I get the 'aha, but that's not a legal action' back at me
Well Wasps carried on negotiations when they found out. This was part of Eastwood's statement in June last year -The EU complaint also came as news to everybody. That's definitely negotiating in bad faith, saying we've stopped everything, but then coming up with that (and the timing of the reveal was... interesting!).
I'll bow out now before I get the 'aha, but that's not a legal action' back at me
Just checked no. Joy said she was happy to waive the ndas if all other parties were too.
Is that the best they can do? Say nothing it is then.
We have been consistently clear that we would like to see Coventry City (CCFC) return to the Ricoh Arena. Everyone agrees that it is in the best interests of the supporters, the city and the local community. We have done everything in our power to make this happen and were very close to having an agreement in place which allowed the club to return – and on terms which were attractive to both parties.
The decision of CCFC’s owners not to return the club to the Ricoh is disappointing and we understand the reaction from their fans who were hoping for a different outcome. We share the fans' frustration.
We have read the comments made by representatives of CCFC in recent days and debated whether we wished to lend them any credibility by responding or to get drawn into a public war of words. However, we believe it is important to defend ourselves against the accusations levied at us, and to address and clarify certain points.
No “Indemnity clause”
One point we have remained firm on throughout negotiations is the need to protect ourselves from future further litigious behaviour, directly or indirectly, by CCFC's owners. The fundamental principle being that there should be no further proceedings about the ownership of the Ricoh Arena. The rationale for this is obvious given CCFC owners’ long history of legal action and their publicly stated intent to pursue all legal channels to reverse Wasps’ acquisition of the Ricoh.
However, Wasps did not insist on an indemnity clause as has been claimed – this claim is simply false. In addition, nothing in the agreement would have put CCFC at substantial risk, as has also been claimed.
Wasps have incurred tens of thousands in legal costs in attempting to achieve the best possible outcome for all parties, including Sky Blue fans, which again underlines our keenness to do a deal.
This is not the outcome Wasps were hoping for.
NDA
We believe CCFC owner’s call to waive the NDA is nothing more than a tactic to distract fans. Their implication, that Wasps has something to hide, is defamatory. As they are more than aware, the NDA was signed by several parties who trusted in the enduring integrity and spirit of the agreement for the protection of their commercially sensitive data and of the independent individuals involved. It is misleading to suggest that it is simply up to Wasps to waive the NDA. We see this as nothing more than an attempt to publicly pass on the blame.
Where do we go from here
CCFC's owners have made their decision. Wasps were (and remain) surprised that CCFC owner’s withdrew from negotiations. They have never communicated to us why they withdrew – and we now have to get on with our business. We are only clarifying these points after recent articles in the press and online. We do not propose to give credibility to any other claims or distraction tactics by commenting further at this stage.
As ever, we remain ready and willing to welcome CCFC back to the Ricoh Arena.
We have been consistently clear that we would like to see Coventry City (CCFC) return to the Ricoh Arena. Everyone agrees that it is in the best interests of the supporters, the city and the local community. We have done everything in our power to make this happen and were very close to having an agreement in place which allowed the club to return – and on terms which were attractive to both parties.
The decision of CCFC’s owners not to return the club to the Ricoh is disappointing and we understand the reaction from their fans who were hoping for a different outcome. We share the fans' frustration.
We have read the comments made by representatives of CCFC in recent days and debated whether we wished to lend them any credibility by responding or to get drawn into a public war of words. However, we believe it is important to defend ourselves against the accusations levied at us, and to address and clarify certain points.
No “Indemnity clause”
One point we have remained firm on throughout negotiations is the need to protect ourselves from future further litigious behaviour, directly or indirectly, by CCFC's owners. The fundamental principle being that there should be no further proceedings about the ownership of the Ricoh Arena. The rationale for this is obvious given CCFC owners’ long history of legal action and their publicly stated intent to pursue all legal channels to reverse Wasps’ acquisition of the Ricoh.
However, Wasps did not insist on an indemnity clause as has been claimed – this claim is simply false. In addition, nothing in the agreement would have put CCFC at substantial risk, as has also been claimed.
Wasps have incurred tens of thousands in legal costs in attempting to achieve the best possible outcome for all parties, including Sky Blue fans, which again underlines our keenness to do a deal.
This is not the outcome Wasps were hoping for.
NDA
We believe CCFC owner’s call to waive the NDA is nothing more than a tactic to distract fans. Their implication, that Wasps has something to hide, is defamatory. As they are more than aware, the NDA was signed by several parties who trusted in the enduring integrity and spirit of the agreement for the protection of their commercially sensitive data and of the independent individuals involved. It is misleading to suggest that it is simply up to Wasps to waive the NDA. We see this as nothing more than an attempt to publicly pass on the blame.
Where do we go from here
CCFC's owners have made their decision. Wasps were (and remain) surprised that CCFC owner’s withdrew from negotiations. They have never communicated to us why they withdrew – and we now have to get on with our business. We are only clarifying these points after recent articles in the press and online. We do not propose to give credibility to any other claims or distraction tactics by commenting further at this stage.
As ever, we remain ready and willing to welcome CCFC back to the Ricoh Arena.
Yeah, but it's the potential impact to their business as a consequence, the potential risk, and the uncertainty probably / possibly putting sponsors etc. off. We'd need OSB here to explain if the last accounts showed any money set aside (don't think it did) but, depending on how big a risk it was deemed to be, they might have to ringfence some funds they'd otherwise use elsewhere. Plus the fact that as a point of principle, if you'd been negotiating something with a no legals caveat, you'd have thought at that point SISU would have said well there is this complaint, thought you'd better just know about it, rather than hide it away until just as the deal was set to be signed.
You have to say that if ever there's a season to be away from our home city, we've lucked into the right one next season!
Also, did any of us really believe we'd actually kick off at Sixfields, until right on kick off time itself?
We have been consistently clear that we would like to see Coventry City (CCFC) return to the Ricoh Arena. Everyone agrees that it is in the best interests of the supporters, the city and the local community. We have done everything in our power to make this happen and were very close to having an agreement in place which allowed the club to return – and on terms which were attractive to both parties.
The decision of CCFC’s owners not to return the club to the Ricoh is disappointing and we understand the reaction from their fans who were hoping for a different outcome. We share the fans' frustration.
We have read the comments made by representatives of CCFC in recent days and debated whether we wished to lend them any credibility by responding or to get drawn into a public war of words. However, we believe it is important to defend ourselves against the accusations levied at us, and to address and clarify certain points.
No “Indemnity clause”
One point we have remained firm on throughout negotiations is the need to protect ourselves from future further litigious behaviour, directly or indirectly, by CCFC's owners. The fundamental principle being that there should be no further proceedings about the ownership of the Ricoh Arena. The rationale for this is obvious given CCFC owners’ long history of legal action and their publicly stated intent to pursue all legal channels to reverse Wasps’ acquisition of the Ricoh.
However, Wasps did not insist on an indemnity clause as has been claimed – this claim is simply false. In addition, nothing in the agreement would have put CCFC at substantial risk, as has also been claimed.
Wasps have incurred tens of thousands in legal costs in attempting to achieve the best possible outcome for all parties, including Sky Blue fans, which again underlines our keenness to do a deal.
This is not the outcome Wasps were hoping for.
NDA
We believe CCFC owner’s call to waive the NDA is nothing more than a tactic to distract fans. Their implication, that Wasps has something to hide, is defamatory. As they are more than aware, the NDA was signed by several parties who trusted in the enduring integrity and spirit of the agreement for the protection of their commercially sensitive data and of the independent individuals involved. It is misleading to suggest that it is simply up to Wasps to waive the NDA. We see this as nothing more than an attempt to publicly pass on the blame.
Where do we go from here
CCFC's owners have made their decision. Wasps were (and remain) surprised that CCFC owner’s withdrew from negotiations. They have never communicated to us why they withdrew – and we now have to get on with our business. We are only clarifying these points after recent articles in the press and online. We do not propose to give credibility to any other claims or distraction tactics by commenting further at this stage.
As ever, we remain ready and willing to welcome CCFC back to the Ricoh Arena.
