If you strip the 'SISU' element out of it for 1 minute..(not easy I know)
An owner has the chance to buy a stake for less it could 'potentially' be worth. Then from that a set of scenarios could occur:
You sell the other half to your co-owner - for more than you paid if they are making a success of it.
You buy the other half because your co-owner is struggling to make a success of it
You have some tangible asset you can sell to make some kind of money back on what you spent.
Maybe it's not about the new stadium.
But there is nothing to point away from the evidence. Yet you seem to point out that there is more chance of the evidence being wrong than right.
That's not what I am saying, what I am trying to say Astute is that until is confirmed in writing it would be wrong to second guess anything at this stage, you may be right, you may be wrong.
Let's see what happens between now and 8/11/14, I hope the Club does purchase the Shares of ACL from the Higgs Charity, at which point as JS alluded to in her interview, that will vary on information from Higgs which I hope is passed to CCFC.
You have to know what your buying, what the cost is, etc? We should all agree that this is sensible and the fact that Sisu/CCFC has done it's due diligence in this situation is good.
If the bid fails and the Wasps take 100% control then I hope there is land in Coventry that we could facilitate building a Stadium on, renting a Stadium without access to revenues of F&B, 365 days a year conferencing and events organised by the Club and so forth will:
A) Not allow us to grow as a business and therefore the playing budget will never be substantial for a Manager to take us beyond the current level.
B) We will not have security of our own home.
People say "Well Sisu have had this long and so forth" well I am sorry that's all the past now, instead of looking at digging the grave for Sisu it's time to get In touch with current times and look at what can be achieved instead of regurgitating situations and history that can't be rectified.
If the Liquidator attempts to Purchase the Option and that Is all It Is ,then do those shares not come at a fixed Price .
Don't know why I'm playing along ,It Ain't Happening ,Open your Eyes .
But you are questioning the facts of what it would take to buy the Higgs share of ACL and half of what ACL owes whilst having no evidence in the slightest of a reduction of what is owed would have been reduced in any way to take a cheap shot at what I have said.
Yes we don't have the proof. But we have the evidence. Which is all we have had during the debacle of SISU taking over our club and everything that has happened since. And the evidence has been proved to be right nearly all the time.
Many said that about getting back to the Ricoh and look what happened..
I am not saying it's a nailed on certainty but it's plausible and makes financial sense, as did the return to the Ricoh..
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It might to SISU and CCFC In their guise Robbo ,but not to anyone else involved of that I'm Confident .
The only way SISU can break into this deal and I don't think they can Is to Seriously reimberse the Charity ,Pay out on several millions to settle Creditors within LTD and
fund half the loan ..But the biggest reason that It won't happen Is that the other party ,Historically the CCC now Wasps ,Is the debt burden within our club Is too great to
Carry into a partnership.
ACL will not "own" the loan though will they and nor will the council.....go on work this out all by yourself -- the loan is the killer question in all this
The enticing thing here is ownership of 50% of the ACL lease that has been extended to 250 years! That's almost like saying freehold. It's not but it is the next best thing. value of the lease increases dramatically based on the length and the two occupants being successful, even mildly successful.
The deal with compass and others is not known but I would assume wasp have rights to income streams within the deal they struck surely, and so the same for CCFC should they obtain the other 50%?
It seems a no brainer on the surface.
What lurks beneath is the unknown elements we don't have knowledge of. I doubt WASP can be successful without CCFC as an anchor tenant with themselves. They won't be getting gates of 30k or even 10k and I'm a little puzzled as to how they have financed the deal?
If I was Joy, I'd buy in to 50% and squeeze WASP out eventually and get the whole 100% in good time. Building a smaller stadium is not a clever idea for CCFC if it only houses 15k fans.
They're gonna break your hearts lads.
They're gonna break your hearts lads.
Already have Wingy already have.
They're gonna break your hearts lads.
Let's remain optimistic Wingy, if it happens it would be so beneficial for the Club and the City as a whole.
ACL owe the loan. Buy ACL you buy the loan. Buy 50% of ACL and you buy 50% of the loan.
That is so wrong
You buy half of ACL shares and that is it
If your 50% partner goes bust it does not change the status of ACL's loan - IT stills owes 100% of the balance
If ACL is generating sufficient to service the loan all well and good
However if it is not doing that and needs a cash injection then the problems arise. It could be the surviving shareholder has to prop up the WHOLE of the loan or fold ACL
ACL owe the loan. Buy ACL you buy the loan. Buy 50% of ACL and you buy 50% of the loan.
That is so wrong
You buy half of ACL shares and that is it
If your 50% partner goes bust it does not change the status of ACL's loan - IT stills owes 100% of the balance
If ACL is generating sufficient to service the loan all well and good
However if it is not doing that and needs a cash injection then the problems arise. It could be the surviving shareholder has to prop up the WHOLE of the loan or fold ACL
I know - but this is Astute so all normal laws of business finance change in the world of Astute
ACL owe the loan. Buy ACL you buy the loan. Buy 50% of ACL and you buy 50% of the loan.
The truth is so Grendel........simple.
Or obtain information that's cosmetically sensitive, surely if you were buying something for a price you'd want to know all that your purchasing?
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I agree that talking about a new stadium as well as the 50% does seem crazy. But she is in negotiations and does not want to completely reveal her hand.
Would you when buying something a person wants to sell not want a crutch to use that you could lean on in negotiations?
I rate Joy as a business person but dont like what she has done in the pursuit of business objectives to CCFC.
Seppala does not have a hand to reveal--all she has is a begging bowl.
ACL owe the loan. Buy ACL you buy the loan. Buy 50% of ACL and you buy 50% of the loan.
That is so wrong
You buy half of ACL shares and that is it
If your 50% partner goes bust it does not change the status of ACL's loan - IT stills owes 100% of the balance
If ACL is generating sufficient to service the loan all well and good
However if it is not doing that and needs a cash injection then the problems arise. It could be the surviving shareholder has to prop up the WHOLE of the loan or fold ACL
SISU have always wanted the Ricoh on the cheap.
If Wasps hit the wall SISU would be able to get the other 50% of the 250 year lease on the cheap. It would be much cheaper than building a stadium they constantly go on about that we all know more or less won't be built. ACL has a debt of 14m outstanding.
SISU keep saying that they are going to buy land and build a stadium. Read what Joy said that started this shitfest off. So they must be able to afford 100% of ACL if Wasps fail......unless Joy is lying to us.
SO old and Grendel.......show me where I am wrong.
But a very one sided view.
CCC got questioned.
Higgs got questioned.
Wasps got questioned.
Joy did all the talking. And there were a fair few points that she made that should have been questioned.
Yep, but it is a Lesley piece of writing, so don't expect balance or objectivity.
Let's remain optimistic Wingy, if it happens it would be so beneficial for the Club and the City as a whole.
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There's only one of these that has any relevance to this thread and it's not Barbies or Barlow.Barbie's Ken?
Orange Ken?
Ken Barlow?
All of the above?
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Barbie's Ken?
Orange Ken?
Ken Barlow?
All of the above?
Sent from my iPhone using Tapatalk
ACL owe the loan. Buy ACL you buy the loan. Buy 50% of ACL and you buy 50% of the loan.
That is so wrong
You buy half of ACL shares and that is it
If your 50% partner goes bust it does not change the status of ACL's loan - IT stills owes 100% of the balance
If ACL is generating sufficient to service the loan all well and good
However if it is not doing that and needs a cash injection then the problems arise. It could be the surviving shareholder has to prop up the WHOLE of the loan or fold ACL
Must be ways of Limiting your liabilities to a partner company .
New poster but supporter since 1964. Did anyone note this article in the Observer was written by Les Reid and a good one at that!
That is so wrong
You buy half of ACL shares and that is it
If your 50% partner goes bust it does not change the status of ACL's loan - IT stills owes 100% of the balance
If ACL is generating sufficient to service the loan all well and good
However if it is not doing that and needs a cash injection then the problems arise. It could be the surviving shareholder has to prop up the WHOLE of the loan or fold ACL
When does Jack Griffin ever post about football? He only ever pipes up when his council chums come in for some grief.
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