Nick
Administrator
I still think that the Wasps bloke is going to take off his mask scooby doo style and be Joy once it is all complete.
Yeah, you can set up some conspiracy theories.
SISU get the share, Wasps decide they can't be bothered with this and pull out... we now know how much the place is worth on a long lease, can stop the nonsense about it being worth £60million, and instead a nice normal deal can be worked out;
Wasps decide they can't be bothered, and sell their 50% straight off to SISU and retreat back to London. Everyone's a winner.
Or there's always the reality... it's all a pile of steaming bollocks.
Is dont think they will make that mistake twice. SISU's offer involves working close with them personally.
Fully agree they should be totally focused on raising the most money to spend on the deprichildren of Coventry.
Do you agree with me if SISU have offered more cash up front they should accept it?
Then spend it on the people of Coventry
They ultimately have no choice - they will be selling to wasps whatever they want to do
Utter drivel.
Yeah, you can set up some conspiracy theories.
SISU get the share, Wasps decide they can't be bothered with this and pull out... we now know how much the place is worth on a long lease, can stop the nonsense about it being worth £60million, and instead a nice normal deal can be worked out;
Wasps decide they can't be bothered, and sell their 50% straight off to SISU and retreat back to London. Everyone's a winner.
Or there's always the reality... it's all a pile of steaming bollocks.
I agree with G on this.
It's just dotting the i's and crossing the t's I'm afraid so SISU cannot make a legal challenge.
Nobody want's SISU I'm afraid. They have burnt all their bridges and Wasps wouldn't want to work with them .
IMHO
G thinks Higgs are being forced to sell against their will, is that what you're agreeing with?
G thinks Higgs are being forced to sell against their will, is that what you're agreeing with?
Once the council agreed to sell their half on a 250 year leasehold for half the price Higgs wanted yes they had no option. Their shares had been devalued over night.
Once the council agreed to sell their half on a 250 year leasehold for half the price Higgs wanted yes they had no option. Their shares had been devalued over night.
They want them away at the best price they can get.
CCC price reflects the value Higgs could get but they might get a premium as they hold the final hand.
They still want them away and they will always be going to Wasps. Mark my words.
Yes I do. I believe if they have offered the same amount Higgs should be bound to accept it. What is the point of having contractual first dibs if it means fuck all?
Higgs could have used their veto if they didn't want the deal to happen.
...to the people of Coventry (us) and not to a London Sports franchise who rocked up five minutes ago. Have they forgotten why they were set up and for who?
We will be sitting in that stadium long after SISU have departed, it would be quite nice if a Coventry club owned it.
They, and anyone holding the right to veto need to get past their hatred of SISU and offer our club a future, and SISU a way out.
They could.
Of course the wider political game gives CCC the whip hand however. Given the nature of what Higgs are, they need to co-operate with the council on projects far far removed from the Ricoh and CCFC, so if they want their other interests to go smoothly, they'd probably be left with no choice.
That said, if they really didn't want this deal to happen, there are ways it could have been presented to show that Higgs were against the sale...
Higgs could have used their veto if they didn't want the deal to happen.
Thanks to the Court Case we know that they are being offered more than was ever offered as a lump sum, but they were offered more for the share in total at one stage. It was just that they wanted this as one lump sum rather than one smaller lump and then installment payments for the rest.They are being offered more for their shares now than SISU guaranteed to pay previously.
Higgs could have used their veto if they didn't want the deal to happen.
They are being offered more for their shares now than SISU guaranteed to pay previously.
But they'll not be selling to CCFC, no Coventry club will own it. It'll be in the hands of a hedge fund subsidiary in the Cayman Islands.
Why would the Higgs use their veto though, who would they be saving the ACL lease for? We were saying we didn't want it because of the New Stadium we're going to build (honest guv!) and were probably still in Northampton whilst they were being approached about their share. This was a way for them to get out after we'd said no, and we'd rather play at SIxfields thank you very much.
Thanks to the Court Case we know that they are being offered more than was ever offered as a lump sum, but they were offered more for the share in total at one stage. It was just that they wanted this as one lump sum rather than one smaller lump and then installment payments for the rest.
But they'll not be selling to CCFC, no Coventry club will own it. It'll be in the hands of a hedge fund subsidiary in the Cayman Islands.
I think we are in agreement for point 1, there is no evidence whatsoever that Higgs are selling against their wishes.
There was no security offered for them getting the future payments, and the offer was based on the premise that SISU could buy the loan from the bank for a maximum of £5m, in reality it was a non offer.
Do you know if the Maltese Hedge Fund is paying up front or in instalments?
Do you know if the Maltese Hedge Fund is paying up front or in instalments?
That neither of these charlatans should have been allowed anyway near any club or any ground.
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