Commercial confidentiality - the term that allows a bunch of ills to be hidden.
Doesn;t need Simon Gilbert to do it either, do it yourselfbut remember to appeal if they don't tell you...!
I was told on Sat that the loan value to debt needs two sporting entities playing at the Ricoh else the loan will default. The initial loan made by the council was paid off by wasps and a new one reissued
The details of the take over are confidential but surely the current status of the loan is of public interest and therefore overrides it?
I struggle to accept that tbh. It makes no logical sense to pick up the entire shebang on the hope that the football club stays beyond its short term deal.
Quite, who would rely on tenants like SISU?
All I can say is councils know FOI better than anyone. If there's something they don't want to release, they tend to find ways not to!
Even more reason for SG to do it. Didn't he get Nuneaton and Bedworth council to reply after initially turning down the request.
The details of the take over are confidential but surely the current status of the loan is of public interest and therefore overrides it?
It would be much better SG doing this than me. I don't check my emails for months and even then I just delete most of it assuming it's junk.
I struggle to accept that tbh. It makes no logical sense to pick up the entire shebang on the hope that the football club stays beyond its short term deal.
It does, but there is a 4 year window before anything can go bad on the situation, so maybe it was deemed a risk worth taking.
Correct I posted this earlier.
If you remember he also said that the Ricoh was too small for AEG to run but their new 15,000 stadium is just the right size, :laugh:
Then again doesn't need to be that big for Billy Smart?
OK, see what you're saying. Let's just run this scenario one more time.
Wasps go bust - ACL goes into Admin. The lease probably reverts to the council at this point, although it may suit them to allow it to remain with ACL perhaps, depending on whether there's a deal to be done with someone else perhaps.
Effectively though the council becomes a creditor - what makes you think anyone would buy ACL including the full liability at this point? It seems unlikely there will be a long line of sports clubs bidding.
Wasps can't buy it, we're saying they've folded. CCFC may have moved out or gone bust, or may be reluctant to take on the full liability, or most likely would delight in seeing the council burn regardless (if SISU are still in charge). Who else would take on ACL with the full liability? The point of admin, as we've seen, is to enable the reduction of debts and liabilities.
There's a genuine risk here, to my mind. The lower risk play for CCFC, as I've said, was SISU's where the debt to the council was at least discharged at the point that ACL was sold. That obviously failed, not least because of SISU, but it doesn't mean that the deal the council have done now is any better.
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