The big question (1 Viewer)

[skybluetony176]

I wouldn't know how is it has been? Could have been negotiating for 6 to 12 months for all I know - how easy has it been?

Also we don't know the actual payment and how long the payment is spread over. Could be 20 years for all we know.

All true. But when did the sale of the Higgs share negotiations begin with SISU? If you were putting a start date on how long we've been trying to buy a share of ACL surely that's it.

It's hard to argue that the wasps consortium haven't gotten further and in a shorter period of time.

(edit) Just to add. Considering Joy is on the takeover panel she could take some lessons from this lot.

 

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[jas365]

A consortium with a sports team that currently attracts 7000 fans. Has looked at a deal that would involve buying 90% of ACL. They have looked at this deal and concluded that they can make money out if it.

SISU have looked at buying ACL and concluded that it can't work. Their current plan is to build a new stadium. This will cost at least 30 million.

When people are saying the SBT should be doing something. I agree councillors, the CET, CWR, the SBT, Rob and Michael's people should all be asking the obvious........

Why are the club not counter bidding so we have a stadium in Coventry and a financially secure future?

Our owners want the unencumbered freehold, end of story. If they can't have that they're not interested. They want something that cost tens of millions of £ for next to nothing.

I've been surprised how many people have commented on Wasps "buying the Ricoh", particularly on CWR on Friday & Saturday. Wasps are not buying the stadium, they are buying 90% of the management company that operates the Ricoh. There is a big difference.

 

[wingy]

The First quoted price for all of ACL ,before the Construct of IEC was £24M off Mr Gidneys own lips.

 

[dongonzalos]

Our owners want the unencumbered freehold, end of story. If they can't have that they're not interested. They want something that cost tens of millions of £ for next to nothing.

I've been surprised how many people have commented on Wasps "buying the Ricoh", particularly on CWR on Friday & Saturday. Wasps are not buying the stadium, they are buying 90% of the management company that operates the Ricoh. There is a big difference.

That's my point and it needs challenging as this is clearly a profitable enterprise that carries less risk than building a new stadium.
So why are we not doing it?

 

[Grendel]

That's my point and it needs challenging as this is clearly a profitable enterprise that carries less risk than building a new stadium.
So why are we not doing it?

We no nothing about the deal details. The deal could be offered over long term payments - given the fragility of wasps finances it's not cash over the counter is it?

Why didn't Elliot and co do it before sisu came along when we had a much bigger fanbase out of interest?

 

[Fergusons_Beard]

Wasps are not buying the stadium, they are buying 90% of the management company that operates the Ricoh. There is a big difference.

Could someone explain this to me.

If someone buys 90% of ACL who owns the stadium-CCC?

And why the Fook would anyone want to do that!

 

[torchomatic]

That's a good point. While the SISU Fuck Ups are fairly obvious the previous board also had a chance to do something over purchasing the share back, didn't they? Saying that they were complaining about the rent only a few months after moving in.

Why didn't Elliot and co do it before sisu came along when we had a much bigger fanbase out of interest?

 

[jas365]

Could someone explain this to me.

If someone buys 90% of ACL who owns the stadium-CCC?

And why the Fook would anyone want to do that!

The stadium (the bricks and mortar) belongs to CCC, this is what Anne Lucas has said all along is not for sale, the "unencumbered freehold". This is what SISU wanted - the freehold without any ties/debts/contracts attached to it.

So for example the contract that the Casino and De Vere hotel has with x number of years remaining (and all the other companies within the building) would be cancelled and re-negotiated to whoever with a new lease.

 

[RegTheDonk]

....

Why didn't Elliot and co do it before sisu came along when we had a much bigger fanbase out of interest?

You'd have to ask them - I would imagine they couldn't afford it or find any backers.

 

[Deleted member 5849]

You'd have to ask them - I would imagine they couldn't afford it or find any backers.

I did ask one director at the time as it happens.

The priority was Stern John.

 

[stupot07]

The First quoted price for all of ACL ,before the Construct of IEC was £24M off Mr Gidneys own lips.

Wasn't that just for F&B's?


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[Gazolba]

Maybe the sports consortium is happy with a small profit margin or just to break even, but SISU want a profit margin much much higher.

 

[Jack Griffin]

...and that stops it being overvalued?

The difficulty in raising the money suggests it's not as clear-cut a wonderful deal as some would have us believe...

A £30M deal is never going to be simple.. unless you are Man Utd buying a new player that is!

 

[shmmeee]

I did ask one director at the time as it happens.

The priority was Stern John.

Just as Ranson and Deleiu's was promotion to the Prem.

Funny how a relegation will focus the mind.

 

[Jack Griffin]

Could someone explain this to me.

If someone buys 90% of ACL who owns the stadium-CCC?

And why the Fook would anyone want to do that!

I assume the existing 40yr lease would be extended to last the lifetime of the stadium.. so it is as pretty much good as owning it (except for not owning the land).

 

[Deleted member 5849]

Just as Ranson and Deleiu's was promotion to the Prem.

Funny how a relegation will focus the mind.

Indeed...

We'd have also got a slapped wrist from the bank had Malky Mackay decided to join us, apparently.

Between these four walls

 

[dongonzalos]

Still don't know the answer to this one and probably never will

 

[stupot07]

An answer to what?


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[wingy]

Nicky Campbell ???