So you say that it would have been good business sense keeping hold of a stadium that wasn't being used where the people running the football club that it was built for preferred to play in Northampton and said they would never bring the club home?
Give me one reason why Higgs would want to work with SISU after what has gone on.
Formula price? Your usual one. The one never used.
According to CCC there was no financial issues for ACL as a result of us playing in Northampton so why not? They could of course have had Wasps playing there as tenants rather than outright selling the ground to them.
Because the offer from SISU directly correlated with Higgs stated charitable objectives at the time the offer was made.
I only mentioned formula price as shmmeee suggested we should have purchased based on that as it was our best chance to buy. A post I assume you agree with as you liked it and then posted arguments in support of the formula valuation so no it is not my usual one whatever that is supposed to mean, just responding to posts made by shmmee and yourself. Are you now agreeing that it is possible the formula price was above market value and SISU were correct in not buying at that price?
You still have not said why Higgs would want to work with SISU.
Because the offer from SISU directly correlated with Higgs stated charitable objectives at the time the offer was made.
SISU could not have bought the 50% from Higgs after Wasps came in, Higgs offered the chance to bid just to make sure there was no legal comeback if they didn't. Whoever held the other 50%, be it CCC or Wasps at that stage, would have vetoed the sale. That's why it seems odd to me that SISU didn't offer massively more cash just to highlight the absurdity of being asked to bid.
This formula price argument, surely it was setting the maximum price that had to be paid by the club/clubs owners, not the minimum. Higgs could agree to sell at a lower price, as in fact they did with SISU's original offer.
The formula was part of the negotiation when Higgs bought the shares from CCFC. It was put in to set a fixed price depending on the period Higgs had the shares and save future haggling when the club wanted them back. It was basically the 'investment' plus interest. Not just a maximum price, but the price.
Yes, Higgs could agree a lower price, but that was not the intention with the formula, pretty much the opposite.
As it happened the formula was never used - not in 2012 during sisu's failed bid to buy into the Ricoh and not last year when Wasps was more successful.
And now they are. With an owner who the council feel is more secure and who has committed more to the community than CCFC.
You talk as if it was all about money. CCFC threw away the chance to buy it, not only by tearing up the "formula" agreement, but also by poisoning the well with the council. It was just ham fisted negotiation that blew up in their face. No great conspiracy, just bad business sense and a whole vineyard of sour grapes. Even at the last ditch they couldn't be bothered to try and put a reasonable offer in for the other 50%. Much like you all they cared about was the headline figure, ignoring the other wants of the other stakeholders. It's a clash of cultures IMO and as the new guys in town the onus was always on Sisu to "As in Coventry do what the Coventrians do", not barge around like you're untouchable then get a smackdown from the judiciary.
The tactics were wrong, the language was wrong and the pig headed refusal to do anything but sling mud and law suits around was wrong. Under that barrage, with a responsibility to the tax payers and a far more important job to do that fluff Seppala's ego, what the council did wasn't just reasonable, it was responsible governance.
Is the loan safer with Wasps or would it be safer with SISU?
And now they are. With an owner who the council feel is more secure and who has committed more to the community than CCFC.
I would suggest that in the event of ACL being sold a condition of the sale, to either Wasps or SISU, should have been immediate repayment of the loan. If, as we were told in the JR, other lenders are happy to give finance on a similar basis why not make use of that and remove the risk to the taxpayer. I wouldn't have wanted SISU owing the council millions and I don't want Wasps owing them millions either.
I was thinking more of them liking litigation more than paying their legal bonded bills. And leaving legal expenses for all sides involved.
I think what he means is....see past the "Football team" and the "Rugby team" and look at the owners of those teams. SISU has been the epitomy of the crappiest of crap owners and done zip, nada, zilch, nowt. for the people of Coventry, whereas in their 4 months of ownership of the Ricoh Wasps owners have gone all out with the "do goodery" I'm like you in one way...I wish Wasps weren't here, but I certainly don't want SISU here even more so.A hell of a statement even coming from you. I think you may need a reminder: http://www.sbitc.org/about-us/history/ (this team has been around since 1883) http://www.wasps.co.uk/community (this team has been here for four months)
I think what he means is....see past the "Football team" and the "Rugby team" and look at the owners of those teams. SISU has been the epitomy of the crappiest of crap owners and done zip, nada, zilch, nowt. for the people of Coventry, whereas in their 4 months of ownership of the Ricoh Wasps owners have gone all out with the "do goodery" I'm like you in one way...I wish Wasps weren't here, but I certainly don't want SISU here even more so.
I think what he means is....see past the "Football team" and the "Rugby team" and look at the owners of those teams. SISU has been the epitomy of the crappiest of crap owners and done zip, nada, zilch, nowt. for the people of Coventry, whereas in their 4 months of ownership of the Ricoh Wasps owners have gone all out with the "do goodery" I'm like you in one way...I wish Wasps weren't here, but I certainly don't want SISU here even more so.
But what have they done for the community apart from give a few tickets to schools since December? Is that the "do goodery" you're talking about?
Look at what SBitC do. They've done fantastic work and continue to do so even with SISU at the helm of our club.
I don't want SISU or Wasps here either, but he Shmmeee needs to stop talking rubbish. Wasps have done nothing for Coventry apart from giving a few tickets to school kids. As I said he really needs to read up on SBitC and see what good work they do. To dismiss them so easily in favour of Wasps is a shitty thing to do.
Grendel....."They have made false promises to the fans."....................................................................................Read what you've written Grendel old chap!....remind you of anyone?
Grendel....."They have made false promises to the fans."....................................................................................Read what you've written Grendel old chap!....remind you of anyone?
SBitC are a registered charity, not sure what SISU put into it to be fair? I know Dave Busst and others put a lot into it. It flys under the flag of CCFC, but I think it is totally separate from what I remember Dave Busst saying once on the radio?
@ Torchy.....I don't give a f**k about Wasps. I hate SISU with a vengeance. BUT!...purely for balance...Wasps didn't haggle over the price for the Ricoh...They paid what was the "Going price"(Price ACL/Higgs wanted) with no riders unlike SISU. Love 'em or hate 'em Wasps did everything right. SISU however........
Yes they are as bad as sisu.
That's my point.
Schmeee - who seems to be competing with Dongle in the "who can talk more gibberish on a forum than RFC" competition thinks they are coventrys very own unicef.
@ Torchy.....I don't give a f**k about Wasps. I hate SISU with a vengeance. BUT!...purely for balance...Wasps didn't haggle over the price for the Ricoh...They paid what was the "Going price"(Price ACL/Higgs wanted) with no riders unlike SISU. Love 'em or hate 'em Wasps did everything right. SISU however........
Even I know when I am beaten hands down on that front. You and RFC are like Real Madrid and Bayen Munich. Plus you spout similar diatribe to be fair.
I am a mere Napoli. I know my limits
@ Torchy....Sorry I didn't relpy but thought what Hobo said would suffice.....Hobo....SBitC are a registered charity, not sure what SISU put into it to be fair? I know Dave Busst and others put a lot into it. It flys under the flag of CCFC, but I think it is totally separate funding wise from what I remember Dave Busst saying once on the radio?..............................Especially the bit where Busst says..."but I think it is totally separate funding wise from what I remember Dave Busst saying once on the radio?
@ Grendel.....We all know they didn't haggle because ACL/Higgs said "Wasps have paid the amount wanted and have made no conditions"....Don't tell me you can't read like the rest of us can? Or can you come up with another one of your gems..."Estimating Facts" that they did haggle?
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