Well our football club need to get off their arses and start to make a contribution.
I suspect that they are restricted by Sisu and if that's the case Sisu need to be challenged on it.
The specially invited guests at the various CCFC forums and the Anti Wasps/CCC/Higgs position of this forum rather than the Sisu challenging, lets them off the hook.
I will ask you this question again, for your thoughts as you sidestepped it yesterday... how does challenging SISU constantly on this forum change their ownership? as it didnt seem to make much difference when we went stratospheric when the move to Northampton was announced.
We can call them wankers as much as you like, but if you havent got the cash or a business plan then I suspect our keyboards will break long before their will does, and I take no satisfaction from that.
I'm saying challenge them on giving us a plan. We don't necessary have to get rid of them.
Everybody went mad when we moved to Northampton. It killed our club.
We are breaking our keyboards on CCC/Wasps/Higgs so whats the difference?
Sisu need to be pushed on a plan, we need the JR out the way then we can start to rebuild relationships and our club.
Certainly when the opportunity comes up in person we should be more verbal. Not just nod our heads at their promises and then have a few drinks because he is a nice guy.
In my view none of it makes a difference apart from personal views being presented on a forum, and opinions given.
I am sadly of the opinion that whovever you berate/champion or whatever on this forum, it will never change SISU's ownership until they decide to do so.
Agree.
But if we don't tell them we are unhappy they will just chug along doing the same and we will be stuck at this level for many years to come.
When they read this forum even they might believe they were doing no wrong and it was all the council and Wasps fault.
Offers were invited publicly as well you know. Wasps made one SISU didn't.
It had been open to any reasonable offer for sometime.
The Tax payers money was paid back in full and the commitment to do that was part of the deal, infact they went beyond that and paid it back early. How could there have been a better deal for the Tax payer than that?
Is £27M good value for effectively owning the stadium complex ?
Come on, stop playing dumb. You both know perfectly well ACL wasn't marketed for sale. A throwaway sentence in a statement from Lucas is not the same as properly marketing something. If 100% of ACL was available with a 250 year lease that should have been placed on the open market. If for no other reason than to achieve the best return for the taxpayer.
There are procedures and guidelines for the sale of asset which CCC have completely ignored. Even if you assume they do not apply on a technicality due to the structure of ownership it is hard to argue that the same principles are not the best route to achieving the best return for the taxpayer. Those guideline suggest obtaining valuations and having the asset properly marketed, nationally and internationally, by an expert in the field.
For all we know Wasps and CCFC might not have been the only interested parties and a much higher price could have been achieved.
I presume when you say the council got all their money back you are referring only to the loan? As for the interest it was reported in the CT that the early repayment actually caused the taxpayer to lose money as there was no interest penalty clause in the loan agreement to cover early repayment.
I don't get your argument here Dave. Are you saying that CCC should have even done more to attract potential bidders so even more people could have done what SISU didn't? Who else do you think is out there looking for a stadium? SISU were the only show in town according to the experts on here.
Surely your concern as a CCFC fan is that CCFC or SISU didn't bid? They clearly were given the opportunity and a good while before it was very publicly opened to any serious offer.
As for the interest that's what happens when loans get paid back early. The public got all their money back and some interest which is more than what would have happened in administration, the only other viable option for ACL other than more public money being put into ACL.
Are you saying AEG didn't know that CCC would listen to any serious offer?
Look at the links I put up earlier. There's quotes from a full council meeting in October 2013 where SISU were invited for talks over the Ricoh. They had ample opportunity to bid for the Ricoh before the council publicly invited bids in January 2014 IIRC. You can take a horse to water but you can't make it drink. Surely the only thing that should concern you is that SISU. didn't bid. Is there actually any proof at all that SISU at anytime attempted to enter any meaningful negotiations? If AL hadn't told us she was getting on the train we probably wouldn't even have known they'd even met. Are you suggesting that this is the reason that SISU didn't bid? If not why are you hung up on it? It's no reason not to bid as far as I can tell. Was there a confidentiality agreement broken by this or something?
Are you seriously suggesting that every organisation around the world is monitoring the minutes of CCC meetings on the off chance they happen to mention something about a stadium lease being available? Are you expecting them to do that for every facility around the world? Of course not. Hence if you are selling something you market it properly!
Of course I would prefer SISU to have bid. My concern is that they weren't bidding on a level playing field. CCC have refused to answer when asked if the same deal given to Wasps was offered to the club, I think there's a fairly obvious conclusion to draw from that.
I'm struggling to see how you can have such strong objections to the idea of an open and transparent sale process taking place.
Of course AEG knew.
More options if it is put onto the open market, when we were sold to SISU there were a few more options weren't there?
When we were sold to SISU, SISU preferred no admin as it reduced the competition so meant we were cheaper.
Same principle as the Ricoh sale to Wasps.
AEG was just an example. There is no way you can seriously suggest that every single potential buyer worldwide was made aware of ACL being available via a comment Lucas made in a council meeting!
Not really. When the club was sold KMPG were bought in to market the club to the maximum number of potential bidders. If you recall SISU weren't the only interested party.
SISU *were* the only interested party by the time it came to the formal process.
The point being made is that there should have been a proper sales process from ACL. You say its the same as when SISU purchased CCFC however CCFC went through exactly the process it is being suggested CCC should have.
Aside from the fact she didn't just say it in a council meeting. How many companies out there would be interested?
What is the standard for Councils selling sports venues? How many people bidded for Hulls stadium for instance?
The first reason we don't own the Ricoh is because we never bid, that also makes it the last reason. It fails at the first hurdle. You're clearly loving the distraction from that because in your mind it let's SISU of the hook.
It is the same though. SISU manipulated their cards to ensure they were the only bidder, they called the shots, it was on their terms.
It was *not* a fair and straight fight.
By the time it came to actual purchasing, rather than polite enquiries, there was only one option... the same as wrt the Ricoh sale.
The very simple fact is you can't possibly know who would or wouldn't have been interested as it wasn't marketed - that's the whole point! For example who knew Lloyds were interested in purchasing the NEC before it was properly marketed.
You deride people for saying we were the only show in town when it came to the Ricoh but now you're doing exactly the same thing.
The standard is for an external valuation to be done and then an external agency to come in to carry out the marketing and appraise the bids. Dependent on the facility that marketing is undertaken on a local, national or international level.
Hull is something of an exception as the money came from the sale of KC Communications.
Actually its CCC who let SISU off the hook. Had an open sale process taken place there would have been huge pressure on SISU to put in a bid. By not going through the process they have given SISU the perfect excuse.
Nick came up with a good one the other day about doing an OAP's day where you pick up old folks from local OAP homes and give them an afternoon out in one of the lounges with a few ex players thrown in for good measures.
Given that Wasps paid less than £6m you would have to say paying £27m would represent poor value.
They didn't pay £13m, they paid £6.5m (£2.75m to each higgs and CCC, £1m for the extension) for the whole lot including the 200+ years extension.Okay for those playing thick. £13M plus taking on a £14M loan.
Is that worth paying for a stadium ?
For those really struggling Wasps £5.5M plus a £14M loan.
In retrospect should we have paid the £13M ?
They didn't pay £13m, they paid £6.5m (£2.75m to each higgs and CCC, £1m for the extension) for the whole lot including the 200+ years extension.
And wasps never took on the loan, the loan was always ACL's, they just bought a company that had an existing loan in place. OSB has exolained this numerous times.
The councils share was never up for sal back in the day and the loan status and terms were different back then.
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They didn't pay £13m, they paid £6.5m (£2.75m to each higgs and CCC, £1m for the extension) for the whole lot including the 200+ years extension.
And wasps never took on the loan, the loan was always ACL's, they just bought a company that had an existing loan in place. OSB has exolained this numerous times.
The councils share was never up for sal back in the day and the loan status and terms were different back then.
When was the councils share ever for sale before wasps came along?This is getting difficult.
If CCFC paid £13M for ACL would it be better than building a new stadium ?
...... because they could have done.
Itailia means before wasps came along and before the counci bailed them out with the loan, when were could have bought higgs share for the formula price, the old loan was still in place and required us to pay £1.2m pa rent to cover the loan.This article says initially the loan term was revised from 41 to 20 years, with a £1M down payment.
http://www.coventrytelegraph.net/news/coventry-news/details-wasps-ricoh-arena-deal-8585198
The loan was paid off after Wasps raised money on their bond issue, part of the motivation behind that move may have been the ongoing SISU litigation, but this article states that they had a clause in their contract to enable them to pay off the loan at any time. http://www.coventrytelegraph.net/news/coventry-news/wasps-rfc-hope-pay-144m-9034140
This is getting difficult.
If CCFC paid £13M for ACL would it be better than building a new stadium ?
...... because they could have done.
27 million?
Are you for real?
It was sold for 5.5 million and 1 million for lease extension. Yet you and others consistently ignore that ACL was never offered to CCFC or the public market at that price. The stadium was built for the club yet they were being quoted over 4 times as much as a club from London. The only rationale and reasoning you and other have is because it's SISU and what they do. Yeah you're right SISU are shit owners, some of the worst. But the club, it's community and fans are bigger than SISU, they matter more. How can you charge your local team 4 times as much?
This one. Just to save you going back through.
It was sold at the knock down price because Sisu knocked it down to that price. CCC were never going to go along with loosing that.
Regardless of that, would we have been better taking the agreed price of £13M and the £14M debt (Admittedly pre Sisu) than build a new stadium ?
This whole thing is so tedious.
We're becoming like those Sunderland fans many like to mock on here because the grapes are still sour.
It's happened. Get over it.
...onwards & upwards PUSB
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