Oxford United FC New Stadium (1 Viewer)

Skyblueweeman · Jan 15, 2022

Just seen that Oxford United are likely to move to a new stadium in the next 4-5 years. Despite the Kassam only being 20 odd years old, there's issues with the lease, the owners and development. Dont know the whole story but interesting that they'll be moving to another new stadium in less than 30 years since moving to their last new stadium.

Oxford United Stadium Statement | Oxford United Football Club

Oxford United Football Club are pleased to provide an update on the search for a new home to secure the club’s long-term future.

www.oufc.co.uk

fernandopartridge · Jan 15, 2022

Skyblueweeman said:
Just seen that Oxford United are likely to move to a new stadium in the next 4-5 years. Despite the Kassam only being 20 odd years old, there's issues with the lease, the owners and development. Dont know the whole story but interesting that they'll be moving to another new stadium in less than 30 years since moving to their last new stadium.

Oxford United Stadium Statement | Oxford United Football Club

Oxford United Football Club are pleased to provide an update on the search for a new home to secure the club’s long-term future.

www.oufc.co.uk

Hmmm, Oxford doesn't have a rugby union club of any note

Flying Fokker · Jan 16, 2022

City didn’t need Wasps. Sisu forced the issue.

OxfordFan123 · Jan 18, 2022

Hi all, thought you might find it amusing to know that your ground situation was brought up as an argument against(!) our new stadium by one councillor.

oscillatewildly · Jan 18, 2022

Now that's show boatin. They never got round to finishing off the current one did they?

napolimp · Jan 19, 2022

So if I've got this right, there's going to be a stadium up for sale, that's cheaper than the CBS, is much closer to London, has hosted Rugby in the past, and has a capacity much closer to Wasps attendances?

jordan210 · Jan 19, 2022

Not sure if they still have the same issues at the kassam but a few years ago they only used to be allowed in the ground a few hours before kick off. made little to no money on food and drink.

Im sure the kassam is worth more as houses then it is as a stadium despite location

Grendel · Jan 19, 2022

napolimp said:
So if I've got this right, there's going to be a stadium up for sale, that's cheaper than the CBS, is much closer to London, has hosted Rugby in the past, and has a capacity much closer to Wasps attendances?

It’s not cheaper than the CBS?

napolimp · Jan 20, 2022

Grendel said:
It’s not cheaper than the CBS?

How much did Wasps pay for the lease, £15 million?

Gynnsthetonic · Jan 20, 2022

napolimp said:
How much did Wasps pay for the lease, £15 million?

Nothing did they, thought they issued bonds which paid for it

Grendel · Jan 20, 2022

napolimp said:
How much did Wasps pay for the lease, £15 million?

£1 million for the extension and £6 million for shareholder value of ACL

Gynnsthetonic · Jan 20, 2022

Grendel said:
£1 million for the extension and £6 million for shareholder value of ACL

Who paid this though, wasn't it the bond holders?

Flying Fokker · Jan 20, 2022

Stuff Wasps.

Grendel · Jan 20, 2022

Gynnsthetonic said:
Who paid this though, wasn't it the bond holders?

No the bond was issued after purchase

oldfiver · Jan 20, 2022

Grendel said:
No the bond was issued after purchase

The flotation was prepared before the council meeting

Grendel · Jan 20, 2022

oldfiver said:
The flotation was prepared before the council meeting

Maybe but the timeline is still correct is it not?

Grendel · Jan 20, 2022

Wasps' £20m Ricoh Arena takeover deal approved unanimously by CCC

Premiership rugby club have been given the green light to complete a 100 per cent takeover of the stadium

www.coventrytelegraph.net

oldfiver · Jan 20, 2022

Grendel said:
Wasps' £20m Ricoh Arena takeover deal approved unanimously by CCC

Premiership rugby club have been given the green light to complete a 100 per cent takeover of the stadium

www.coventrytelegraph.net

It was all set up before the bond issue

napolimp · Jan 20, 2022

Grendel said:
Wasps' £20m Ricoh Arena takeover deal approved unanimously by CCC

Premiership rugby club have been given the green light to complete a 100 per cent takeover of the stadium

www.coventrytelegraph.net

So it's costing wasps £20 million then? Or are the bonds not worth anything anymore?

Grendel · Jan 20, 2022

napolimp said:
So it's costing wasps £20 million then? Or are the bonds not worth anything anymore?

What?

Grendel · Jan 20, 2022

oldfiver said:
It was all set up before the bond issue

It matters not. I’m not sure the point you are making.

napolimp · Jan 20, 2022

Grendel said:
What?

I'm saying it's still money they have to pay unless they default on the bonds, and surely the debt will also have to be repaid at some point. So the stadium will cost them £20 million.

oldfiver · Jan 21, 2022

Grendel said:
It matters not. I’m not sure the point you are making.

oldskyblue58 · Jan 21, 2022

Grendel said:
Wasps' £20m Ricoh Arena takeover deal approved unanimously by CCC

Premiership rugby club have been given the green light to complete a 100 per cent takeover of the stadium

www.coventrytelegraph.net

To add to grendels point

Wasps never paid 20m.

They purchased the acl shares 5.77m. They then purchased the long lease for 1m. Total they paid was 6.77m. The CT article is misleading and inaccurate

The loan 15.1m already existed within the acl accounts. It formed part of the valuation of the shares as did the lease that was valued at 18.3m. Wasps took both on by buying the shares.

napolimp · Jan 21, 2022

oldskyblue58 said:
To add to grendels point

Wasps never paid 20m.

They purchased the acl shares 5.77m. They then purchased the long lease for 1m. Total they paid was 6.77m. The CT article is misleading and inaccurate

The loan 15.1m already existed within the acl accounts. It formed part of the valuation of the shares as did the lease that was valued at 18.3m. Wasps took both on by buying the shares.

So did they take on any debt when they purchased ACL?

Gynnsthetonic · Jan 21, 2022

oldskyblue58 said:
To add to grendels point

Wasps never paid 20m.

They purchased the acl shares 5.77m. They then purchased the long lease for 1m. Total they paid was 6.77m. The CT article is misleading and inaccurate

The loan 15.1m already existed within the acl accounts. It formed part of the valuation of the shares as did the lease that was valued at 18.3m. Wasps took both on by buying the shares.

So how did they finance the 6.77m if they were on the edge of bankruptcy at Wycombe or was it paid directly from Richardsons pockets? Genuine question.

chiefdave · Jan 21, 2022

Gynnsthetonic said:
So how did they finance the 6.77m if they were on the edge of bankruptcy at Wycombe or was it paid directly from Richardsons pockets? Genuine question.

I don't think it was ever clarified when the council actually received the funds but you'd assume with Richardsons wealth he could provide bridging finance. The ACL loan wasn't repaid until after the bond was fully subscribed.

Wasps RFC hope to pay off £14.4m Ricoh Arena council loan 20 years early

Premiership rugby club aims to pay off ACL's debt to Coventry City Council in the next few months

www.coventrytelegraph.net

Wasps RFC retail bond hits £35million target

Wasps have succeeded in raising £35million through retail bond to pay off other debts - including the £13.4million loan from Coventry City Council

www.coventrytelegraph.net

Wasps RFC pay off £13.4million Ricoh Arena council loan in full - 20 years early

Coventry City Council confirm full payment, plus interest, arrived in the authority's bank account this morning

www.coventrytelegraph.net

oldskyblue58 · Jan 21, 2022

napolimp said:
So did they take on any debt when they purchased ACL?

They took on all the debts and all of the assets of acl group at the date of purchase for 5.77m. That is the basic meaning of a share sale.

That includes acl debt to council at date shares sold to wasps.

That part of the bond finance replaced the council loan like for like and in effect changed nothing

oldskyblue58 · Jan 21, 2022

Gynnsthetonic said:
So how did they finance the 6.77m if they were on the edge of bankruptcy at Wycombe or was it paid directly from Richardsons pockets? Genuine question.

I assume from Richardson. In year of purchase he put 4.7m in to wasps for starters

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