Nick
Administrator
Wasps pretty much had the 100%, the CCFC offer then was irrelevant.
Wasps said themselves it was always about 100% of it. I very much doubt they would have come and allowed it to be 50% / 50% with SISU.
Not going to argue with you mate. If SISU had made the same offer as Wasps without the proviso's, then I'd be as mad as the next man. So don't twist my words . Ok?
http://www.coventrytelegraph.net/news/coventry-news/coventry-city-owners-sisu-still-7902231 .......Selective memory guys(Grendel) Every opportunity given to SISU to make offer, but had to be within 30 days. They then made due offer with proviso's Not rocket science as to what would be said to SISU.. Is it?
1. They couldn't buy it if they wanted to could they, due to the structuring so that was a PR stunt wasn't it?
2. Again, Wasps were only ever here for 100%. They wouldn't have done it if they weren't going to get 100%.
Hahahaha believe everything Eastwood says. Brilliant!
The Higgs Charity Trustees are bound by strict rules on their actions by the their articles of association and answerable to the charity commission. They must act in the best interests of the charity and in this matter, they must have thought this was the best option for their charity.
Or they have to be certain they could provide a plausible explanation if the deal was ever questioned.
Was it coincidental that days after SISU suggested working with Higgs on charitable initiatives in the city Higgs completely changed the mission of the charity, moving away from anything to do with sports and into the arts world?
Or they have to be certain they could provide a plausible explanation if the deal was ever questioned.
Was it coincidental that days after SISU suggested working with Higgs on charitable initiatives in the city Higgs completely changed the mission of the charity, moving away from anything to do with sports and into the arts world?
That's priceless Dave. That truely is the king tin hat conspiracy theory of all the tin hat conspiracy theories ever dreamt up on here.
Have they filed their accounts yet or are they still overdue?
I assume you mean the Drapers Hall development. That was first reported as the Charity being involved in 2012. Not sure the project has proceeded further than the business plan & drawings
Alongside the offer through the Joint Liquidators is an offer from Otium to allow the Charity to join it in an extensive football club based community programme. The proposal does not fit the Trustees’ plans for their future activities and commitments already made. The Trustees hope that Otium will now engage with the community as they suggested in 2012 and now again in this recent letter from Mr Fisher.
It is not for a charity to support the activities of a commercial enterprise; however it is socially responsible for commercial enterprises to support the local community.The Ricoh Arena is a major asset to the City and continues to be the home of ‘Coventry City Football Club’. Responsibility for the future of both the football club and Wasps lies with their owners.
The Trustees have contributed greatly to the expansion of sporting facilities and to the development of a coherent sports strategy for the City. They believe that the resource deficit in the Arts needs to be addressed. The renovation and expansion of the Drapers’ Hall as a home for Music Coventry will, they hope, stimulate the same step change in the Arts in the City as the Alan Higgs Centre helped to do in sport.
That's priceless Dave. That truely is the king of tin hat conspiracy theory of all the tin hat conspiracy theories ever dreamt up on here.
So you think it is total coincidence that Higgs made no mention of this change of focus until a bid from SISU which proposed working together in the area the charity, at the time, purported to operate in?
I would think that the decision was made long ago based on their experiance of overpaying a football club for their shares in a stadium management company on the understanding that there is an agreed formula in place to buy it back and then building the same club facilities so they can gain CAT3 status for their academy only to be hit with constant costs' arguements, stress and hassle. Your claim that it is based on turning down a single offer from a Hedge fund is laughable considering all that went before it.
I've said it before but a long standing connection between the football club a well thought off family in the City of Coventry who have done untold amounts of good over many decades and generations not just for the football but for the wider Coventry community has just came to a very nasty end and that is something that has probably been lost to the football club forever and that is a great shame when you consider everything they've done for the club and not just the last couple of years.
I know SISU are useless but to suggest they would make an offer which agreed to purchase the Higgs share and wasn't reliant on them performing even the slightest bit of due diligence is nuts. Wasps would have already seen the information as part of their due diligence for purchasing the council's half.
Wasn't going to reply on this subject but!... Do you mean the same "Due Dilligence SISU took on takeover of CCFC???
Any interest in the football club from them went when Derek Higgs departed.
Any interest in the football club from them went when Derek Higgs departed.
In your opinion.
Yes, given that they have on more than one occasion stated that the failure to do detailed enough due diligence when purchasing the club in the first place I suspect they would have made sure they did it properly this time.
Not just my opinion.
PWKH said they had already agreed to sell to wasps before the alternative offer was even made.
Oh yes SISU never had any chance of coming to any agreement over taking over the arena before Wasps jumped in and got what should have belonged to CCFC.
I ask again. Are you ready to pay up on the bet we had at the start of the season? Payable to cancer research please.
Oh yes SISU never had any chance of coming to any agreement over taking over the arena before Wasps jumped in and got what should have belonged to CCFC.
I ask again. Are you ready to pay up on the bet we had at the start of the season? Payable to cancer research please.
What was the bet?
Not any one project in particular
And of course the ownership of the Higgs Centre has recently changed, or is shortly to change - not sure if its actually happened yet.
He's only on a 6 figure salary he can't afford itOh yes SISU never had any chance of coming to any agreement over taking over the arena before Wasps jumped in and got what should have belonged to CCFC.
I ask again. Are you ready to pay up on the bet we had at the start of the season? Payable to cancer research please.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?