Les Reid Update (4 Viewers)

[SkyBlue_Bear83]

Tim said in interview last tuesday they wanted to clear there name what ever that means....

Something about trying to distress ACL, he said it was wasn't true an they want to clear their name or something.

 

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[Rusty Trombone]

Can someone bring me up to speed. I stopped reading all the threads on ACL / CCC / Wasps etc as it just seemed to be the same old argument going round in a circle but when the idea of SISU buying 50% of ACL was mentioned just after the sale to Wasps the general consensus seemed to be it was BS from the council and they'd royally stitched the club up and made it impossible for them to buy the share.

Is that not right, has something changed? Why are we now in a position where we can buy half? Obviously it would be fantastic to get an ownership stake and it's nice to finally see SISU admit they want a share in the stadium but is there any chance of this actually happening?

If it relies on going to court to prove beneficial ownership of the option how can they claim that without getting stuck with the balance of the lease?

I would imagine they would be arguing they have already bought the beneficial ownership when Otium took over, so no need to resurrect CCFC Ltd, with it's debts.

 

[Rusty Trombone]

That's what I am saying, so why not drop it?

Because if they win they will no doubt want a load of money from the Council.

 

[mattylad]

Its a bloody mess already, rumours today that Wasps don't even have the financial backing in place to complete even the first part of this deal let alone the full purchase of all 100%

 

[SkyBlue_Bear83]

Because if they win they will no doubt want a load of money from the Council.

Weren't they going to try and claim compensation for the Northampton move? Arguing that the loan sabotaged negotiations between the club and ACL before the move happened?

 

[Ian1779]

Its a bloody mess already, rumours today that Wasps don't even have the financial backing in place to complete even the first part of this deal let alone the full purchase of all 100%

Probably just waiting for the 'transaction' from their new Cayman Island based partners before proceeding.....

 

[Rusty Trombone]

Weren't they going to try and claim compensation for the Northampton move? Arguing that the loan sabotaged negotiations between the club and ACL before the move happened?

Maybe, I know that Joy is claiming for an umbrella and a magazine though.

 

[skybluetony176]

Probably just waiting for the 'transaction' from their new Cayman Island based partners before proceeding.....

I hope someone didn't shake on the deal without the knowledge and approval of someone else. That's bound to end in disaster

 

[wingy]

I would imagine they would be arguing they have already bought the beneficial ownership when Otium took over, so no need to resurrect CCFC Ltd, with it's debts.

Bit late for that isn't it .

They've had what 15 months ,there was an old Article on here the other day where TF was saying he couldn't comprehend why ACL/CCC hadn't come a calling .If they'd wanted to prove that point think they'd have done It with all the other cases ,I mean we've had 3 Is It ,why not 4 .

As I said In the other post the CVA rejection seems to have stopped It.

 

[Deleted member 5849]

Its a bloody mess already, rumours today that Wasps don't even have the financial backing in place to complete even the first part of this deal let alone the full purchase of all 100%

Let's hope so!

 

[wingy]

Bit late for that isn't it .

They've had what 15 months ,there was an old Article on here the other day where TF was saying he couldn't comprehend why ACL/CCC hadn't come a calling .If they'd wanted to prove that point think they'd have done It with all the other cases ,I mean we've had 3 Is It ,why not 4 .

As I said In the other post the CVA rejection seems to have stopped It.

TF's biggest Frustration when he kept saying they sent us under for £200K,when It was a) the remainder 43 yrs of lease and b) the Option.

 

[dongonzalos]

Byng already stated he registered his interest with Mr Appleton

 

[wingy]

Let's hope so!

Joe Dinhsa MK2

 

[Rusty Trombone]

Bit late for that isn't it .

They've had what 15 months ,there was an old Article on here the other day where TF was saying he couldn't comprehend why ACL/CCC hadn't come a calling .If they'd wanted to prove that point think they'd have done It with all the other cases ,I mean we've had 3 Is It ,why not 4 .

As I said In the other post the CVA rejection seems to have stopped It.

It's not too late, otherwise Higgs wouldn't have invited the offer. I don't know what you mean in respect of the CVA stopping anything.

 

[Deleted member 5849]

It's not too late, otherwise Higgs wouldn't have invited the offer.

Apart from tawdry politicking you mean?

It'll be free rent all the way before you know it.

 

[wingy]

Let's hope so![/QUOTE

Lets hope our owners have some .

 

[James Smith]

here's hoping for a CCFC injunction to stop Wasps snapping up Higgs 50%

100% agree with that, it's our home, it was built for us not Wasps. Should have bought the share a long time ago and prevented the hypocritical council from selling their share to Wasps and encouraging franchising.

 

[wingy]

It's not too late, otherwise Higgs wouldn't have invited the offer. I don't know what you mean in respect of the CVA stopping anything.

The option would have been purchased like the rest by Otium.

 

[Ian1779]

If Wasps aren't capable of completing the transaction... at least everyone now knows what the going rate for a 'first-class' stadium and a 250 year lease is.

 

[Rusty Trombone]

Apart from tawdry politicking you mean?

It'll be free rent all the way before you know it.

I mean the option hasn't expired, it would certainly appear that Higgs have no intention of accepting any offer from the liquidator.

 

[Deleted member 5849]

If Wasps aren't capable of completing the transaction... at least everyone now knows what the going rate for a 'first-class' stadium and a 250 year lease is.

Less than Wasps offered, you mean, if they can't get funding to complete the deal?

 

[Rusty Trombone]

The option would have been purchased like the rest by Otium.

As I have mentioned PWKH has said that Higgs have to give permission for it to be transferred, it can't simply be traded according to him*.

*Pretty sure it was him, I'll have a listen again to his interview on CWR.

 

[Astute]

Despite being ridiculed by those economists on here such as astute for predicting this likely development the actual critical aspect will be not the requirement to re-fund an empty company but deal with the veto.

I suspect ( again having been ridiculed by the economic experts) that the wasps takeover is not to be completed until 30 days after the Higgs announcement. So they can veto the club buying the shares.

Would you like to remind everyone what was said?

So now you suspect something. You also know about a veto that you know would be used. Yet we don't know any facts. You also seem to know that Wasps would have the veto if you are wrong. All you seem to be doing is covering every base other than SISU getting 50%.

I still think that SISU will try for the 50%. As I said it will be difficult. But I can't see CCC using the veto or Wasps having it. Only time will tell.

 

[limoncello]

Less than Wasps offered, you mean, if they can't get funding to complete the deal?

Would only be fair.

 

[wingy]

As I have mentioned PWKH has said that Higgs have to give permission for it to be transferred, it can't simply be traded according to him*.

*Pretty sure it was him, I'll have a listen again to his interview on CWR.

That's what I'm saying If the CVA had been accepted Otium would have purchased the option with everything else, they wouldn't be waiting on permission or vetoes etc.

 

[limoncello]

You lot are wasted on here. You should be out leveraging amortised funding options.

 

[Broken Hearted Sky Blue]

Would only be fair.

Yes but who would put an offer in for it without a team to play in it?

 

[limoncello]

Yes but who would put an offer in for it without a team to play in it?

Byngo!

 

[The Reverend Skyblue]

Well I am certainly not SISU 's biggest fan,I would say I dislike them enormously but we have to put all that hate to one side and if they can get a stake in the Ricoh it surely must be a good thing for the club.
i believe like some other poster has said that if they did get the Higgs share it is the start of their exit as they have at last something to sell.


even they know their relationship with the majority of fans has been broken beyond repair and this is their best chance to go.

 

[fernandopartridge]

Its a bloody mess already, rumours today that Wasps don't even have the financial backing in place to complete even the first part of this deal let alone the full purchase of all 100%

I'd piss myself if that was the case.

 

[Broken Hearted Sky Blue]

Byngo!

Ah yes Mr Mitty

 

[wingy]

I'd piss myself if that was the case.

But were they started by BYNG ?/

He brought It up on the Friday phone In .

 

[Rusty Trombone]

You lot are wasted on here. You should be out leveraging amortised funding options.

It's good that you've shown up to explain everything. Carry on.....

 

[stupot07]

But were they started by BYNG ?/

He brought It up on the Friday phone In .

Wasn't there a rumour on here a couple of weeks ago saying that they were struggling to raise the cash?



Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors

 

[Ian1779]

Wasn't there a rumour on here a couple of weeks ago saying that they were struggling to raise the cash?



Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors

Yes there was... I believe that was also SISU's fault

(both the rumour and the fact Wasps can get their money together)