bigfatronssba
Well-Known Member
You forgot the rule. Its fine to insinuate that your in favour of violent protest against anyone but sisu. If you do it against them it might "upset" the team and that would mean your not a real fan.
Club aims to raise £35m from bond (10 Viewers)
- Thread starter SkyBlue_Bear83
- Start date
You forgot the rule. Its fine to insinuate that your in favour of violent protest against anyone but sisu. If you do it against them it might "upset" the team and that would mean your not a real fan.
J
Jack Griffin
Guest
They got the whole £35M http://www.coventrytelegraph.net/news/coventry-news/wasps-rfc-retail-bond-hits-9194444
Grendel
Well-Known Member
Love it when council jack joins the party.
hutch1972
Well-Known Member
Well done ccc , no early repayment charges = 20 years interest lost to the people of this city.
Totally shafted by the cockney pikeys
chiefdave
Well-Known Member
A fool and his money
If you took what was in the prospectus at face value it sounded like a fantastic deal. Realistically how many people investing know the history of ACL inside out like many on here do.
My understanding was there is a penalty, but it isn't all the interest. Commercial loans I have taken in the past usual have 3 months interest as a penalty.
Of course not, if that were the case you'd be an idiot to pay it back early. Likely scenario is some sort of early repayment penalty. It's unlikely to be more than a years interest. Wasps can pay back the bonds early for something like 5% premium (depending on how early they repay)
Personally I think ccc will be disappointed but then I always thought they had a good deal getting 11% secured, all those who felt ccfc were risking tax payers money should think this is good news. Grendel especially should be pleased.
chiefdave
Well-Known Member
So we can add the council and taxpayer to the list of people who haven't done as well out of this as was made out would be the case when the deal was done.
Rusty Trombone
Well-Known Member
http://www.coventrytelegraph.net/news/coventry-news/wasps-rfc-hope-pay-144m-9034140
No interest penalty according to the CT.
hutch1972
Well-Known Member
The people who have done well are the coventry folk with the 2 faces , fork tongues and the bucket loads of hypocrisy.
Probably the same ones who decried the youngsters wearing liverpool and Man u shirts, glory hunters i think they call them.
I am waiting for the 1st cunit to have a half franchise half city shirt now that would be truly sickening.
SkyBlue_Bear83
Well-Known Member
Least our fans still have our dignity right unlike those Milwall mob, If by dignity we mean bending over and letting SISU walk all over us and now history is repeating itself as the same people allow a London rugby team to do the same.
SkyBlue_Bear83
Well-Known Member
I'm guessing you don't go to Wasps matches so it doesn't really apply to you.
What about the 32k who will be at the Leicester match though? Are they giving the thumbs up for franchise sports in the UK?
No more so than the Blaze fans.
Moff
Well-Known Member
Childish attacks on other CCFC fans will solve nothing. Fortunately most fans are intelligent enough to understand why some people feel aggrieved by the actions of Wasps and previously the Council, whilst sadly some fans are not so intelligent.
chiefdave
Well-Known Member
You can't really use ice hockey in the UK as an example as they vast majority, if not all, do not own their rinks so are reliant on where facilities are built. Hence you have some big cities, London being the prime example, without a team. They also don't generate enough money to be able to afford to build their own facility unlike football and rugby. And they don't have the 100 year plus history of being in one location most football and rugby teams do.
Ice hockey is a franchise sport. Case in point being the current rumours of 2 expansion teams being formed to join the EIHL in the next couple of years.
SkyBlue_Bear83
Well-Known Member
D
Deleted member 5849
Guest
Which is, tbh, why I avoid it.
I've been to dozens of Blaze games and will never go and see wasps, but the fact remains going to watch wasps play Leicester is no more a thumbs up to franchise sport than going to watch the blaze.
chiefdave
Well-Known Member
I just ignore the franchise side of it. It makes no sense to me. Lived in Ottawa for a while and they're a relatively new team, at least in the modern era, having joined the NHL in 92. Being in between Toronto and Montreal the majority of their fanbase are people who have switched from one of those teams.
Can't imagine doing that. There's even more bizarre situations. For example Winnipeg Jets. They moved in 96 and became Phoenix Coyotes, couldn't really have moved much further. Fast forward to 2011 and a completely different team, Atlanta Thrashers, moved and became Winnipeg Jets. I guess if you from North America that's just how it is and you're used to it.
I haven't lived in Coventry since 92 but could never support anyone else. Fratton Park is at the end of my road but the only time I've ever been, except to see us, was when there was an England Womens game there.
Judging by the reaction of some Wasps fans, who when they moved just went off and supported the next nearest team, I think it must just be a football fan thing.
SkyBlue_Bear83
Well-Known Member
So 32,000 thumbs up compared to how many at a Hockey game?
chiefdave
Well-Known Member
Because when people objected to the loan being made the reason we were told it was such a good idea was how much the taxpayer would make in interest over the term of the loan.
That interest will now not be received.
Interesting to hear that from your position of being 'intheknow' you confirm there was a risk of default.
There is the risk of default in every business so your point carries no weight.
Can the Council not invest the monies it gets back? Who knows, may get a better return. Or it could put the money towards jobs/public services...
Broken Hearted Sky Blue
Well-Known Member
As I said I dont care,I watch Cov sometimes just as have since I was at school. But I am only really interested in my football team staying in the city of its birth. Its too late to moan about franchise sports ie The Blaze,again doesn't bother meI don't go. I really cannot understand that people cant understand that this especially for me is a one subject arguement and that subject is CCFC end of. Ask yourself one question would we have all this furore had Wasps bought St Andrews or Villa Park?
chiefdave
Well-Known Member
Not according to the council. Nellist raised this very issue as the amount made in cuts was approximately the same as the amount loaned to ACL. The response to him was that the money was from council reserves and assigned to specific things so even if the loan was called in the money could not be used for things such as those you suggest.
Moff
Well-Known Member
Where have you been, thought you would have been all over this site like a rash in the last few days telling us all about the take up of the bond, as you are 'in the know' or is it a case of 'not really as much in the know'?
On a serious note are your numptys going to beat Leicester at the weekend? Saints still top of the league, I am looking foward to our home semi final.
Not sure that is right. If it can't be put towards public services surely the Council can place the monies in an interest bearing account/buy gilts etc.
SkyBlue_Bear83
Well-Known Member
No it would probably get a small mention on here when it happened and that is it, I'd imagine Birmingham and Aston Villa fans however would be extremely upset about it though and I'm sure it would have also been debated to death by their fans as we have.
It is a big game for sure. Biggest attendance for a club match ever at the Ricoh I understand.
chiefdave
Well-Known Member
Well I guess that depends on if you think the council were telling the truth or it was another lie to justify making the loan and allowing it to stay in place following the sale of ACL.
SkyBlue_Bear83
Well-Known Member
Probably if you have sold every single seat as claimed and 99.9% of them turn up, football sell outs can never completely sell out because of the need for segregation between sets of fans.
I thought the making of the loan was to prevent the administration of ACL thereby ensuring that equity value was retained?
Fair point.