As long as we are about we would be in a good position if the Wasps go tits up. They can't give away so many tickets and go on forever. And they bwill have a lot of money to pay back in 6 to 7 years. Where are they going to raise 5m a year after paying all of the interest? Is that why Richardson wants his money back?
How many teams have access to 24/7 income streams, I would love to know how many premier league teams need the profit from an exhibition company.
Ansty = Ruled out
We get our hopes up after getting a decent manager and surviving relegation, when true to form Sisu feed us bad news that leaves us in limbo for years to come.
no chance of that now, they have raised 30m so far in the bond issue according to the other thread. So they are almost certainly safe now for the next 7 years, at that point of course they could fail as they will owe 30mill and would need to refinance. waiting 7 years in limbo with the vague hope for wasps to go bust doesn't sound fun.
no chance of that now, they have raised 30m so far in the bond issue according to the other thread. So they are almost certainly safe now for the next 7 years, at that point of course they could fail as they will owe 30mill and would need to refinance. waiting 7 years in limbo with the vague hope for wasps to go bust doesn't sound fun.
I think in many ways this is good news. SISUs bluff, assuming it is a bluff, can now be called. Although its not a final deadline its pretty clear that to have any chance of success the September deadline is key. That puts the ball firmly in SISU's court, they have until September to get their act together and move this forward.
If we reach September and we're no further forward then we can effectively cross any locations covered by RBC off the list. The options then start to quickly run out and it becomes increasingly difficult for Fisher to bluff his way out of it.
Here's a horrible thought. If SISU have managed to make the club self sufficient then they might just stick around doing more of the same for the next 7 years in the hope that when Wasps have to pay back the investors they don't have the cash and SISU can pick up the Ricoh on the cheap.
They will have to pay back 6.5% for 7 years then find however much they raise. So they would have to find 2m a year just for the 30m in interest. So there is 14m. Then they need to find the 30m. So we are up to 44m already.
So Richardson wants his 10m back? He could loan it back to them to cover 5 years worth of interest. So they would have to pay interest for him to have his money back for a few years. It looks like a poor plan to me. I wouldn't be happy if it was SISU doing the same.
So which part of it being safe do you mean?
Would expect the CT to be firing a batch of requests in now to CCC regarding the Ricoh and their dealings with SISU and Wasps.
One thing the good folk of Cov could do tomorrow is vote out the council and Instill a new council from a party willing to work with the club.
so no real rush to try and negotiate a longer deal just yet
To be fair this hasn't come from SISU, this has come from the CT firing in FOI requests to get details of private meetings. Ones SISU clearly didn't want made public from reading the minutes. The interesting part of this is that it appears councils have to give details of private meetings. Would expect the CT to be firing a batch of requests in now to CCC regarding the Ricoh and their dealings with SISU and Wasps.
Apart from the fact that at the moment our landlords have to pay slightly more than lip service to doing us a good deal.
In a year's time, do they have to do the same?
As there is a 2 year option I would like to think it would be on approx the same terms. But the one thing for sure is that they need our rent money and the other money generated by us being there.
There is an opportunity from the Wasps side to not take up that 2 year option.
Can anyone give a comparison on Wasps costs here over settling out the council loan
over Its term?
We get our hopes up after getting a decent manager and surviving relegation, when true to form Sisu feed us bad news that leaves us in limbo for years to come.
Sisu have not been backed into a corner, they have their arse in their hand that prevents them from making any long term deal at the Ricoh.
Why, don't they ask the fans before committing them away from Coventry?
I'm sure it would focus their plans if they did.
Any business would do this first. Surely.
How, you going to make money moving and trying to get 18,000 people when we are in the old 3 rd division what a load of cunts, no way anyone is coming to Rugby, makes it easier to follow the wasps stupid fuckin idiots
Would guess it is about the same, maybe slightly more. They might have been a bit worried about a JR against CCC going the way of SISU so wanted to get rid of the loan. But at the same time Richardson cash out in case it doesn't work. Whatever happens he is then in a no lose situation.
It just seems strange to me that they came to Coventry to save money just to get 44m minimum in debt. If they raise what they wanted to.....35m.....they will have to pay £2,275,000 interest a year and then the 35m back in 7 years. So with interest it would come to over 50m
Where is Les Reid ? Being an award winning journalist and right on his patch I would have thought this would be an exclusive in both the Cov and Rugby Observers ?
makes it easier to follow the wasps stupid fuckin idiots
Wasps will profit from us being at the Ricoh and to keep us there they need to keep us sweet.
My two favourite phrases on SBT are: "award winning journalist" and "batter people in court". Love 'em.
Why would they need to keep us sweet? If we're not building a new stadium they become a monopoly. They can treat us how they like and charge us whatever they want and we have little other option.
With no evidence of things having moved forward on a new ground since the Sixfields move would the league give permission for a similar thing to happen again? I don't see how they could. If it really is the Ricoh or nothing we have to take whatever Wasps offer, even if its worse than the deal we had when we first moved there.
Owning our own out of town stadium with the debt associated with it will finish us.
The club will not own the stadium. it will be owned by investors ... and so will any associated debts.
The club will own a new stadium management company.
10 page thread so far on stadium never never land, posters stating it will never happen ( which it won't as they have no ambition or funds to complete such a fantasy), yet you discuss.
It should be given no thought at all as it will never happen, however two points for those who still like to discuss something that will never happen -
But here is a thought, they bang on about the 365 revenues a new stadium would generate, but A - if they build it within Rugby and not Coventry seriously are the fanbase going to accept this, or will we just lay back swallow more bullshit and head off to Stadium Fisher.
B - If they magically did get a loan to fund the whole process, the 365 day revenue which they state would help make the club self sustainable, would infact not be for X amount of years as someone is going to want their outlay back for building stadium never ever and we would not see a fooking penny of it on the playing side.
So enjoy them two thoughts.
It should be given no thought at all as it will never happen
But here is a thought, they bang on about the 365 revenues a new stadium would generate, but A - if they build it within Rugby and not Coventry seriously are the fanbase going to accept this, or will we just lay back swallow more bullshit and head off to Stadium Fisher.
If they magically did get a loan to fund the whole process, the 365 day revenue which they state would help make the club self sustainable, would infact not be for X amount of years as someone is going to want their outlay back for building stadium never ever and we would not see a fooking penny of it on the playing side.
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