Those hoping for WASPs demise (1 Viewer)

[Moff]

Sounds like spurious bullshit to me.

I hope you are covering all buisenesses in the city likewise. Best get out the yellow pages and ring them in order to see if anymore are remortgaging

 

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[chiefdave]

As usual thanks to everything being done in secret we're left to try and fill in the blanks. The CT article mentions refinancing so that would seem to rule out payment from the naming rights renewal (which wouldn't all be paid up front anyway would it?). So is it pressure from CCC to get them off the hook, Wasps getting a better offer, Wasps finally finding the funding they were hawking around the city for or Wasps needing more finance and rolling it all into one loan or any other reason?

The article states this will free up millions to be reinvested in other areas, this directly contradicts the councils previously statements when responding to Nellist that council reserves, from which the money was sourced, could not be used in that way.

Everything about this whole loan saga seems a bit dubious to me so at least now it will be out of the way. Of course doesn't' mean the end of the JR and it may yet to be seen if this strengthens or weakens SISU's case. If it was compensation they were after the repayment will have little impact on that proceeding.

The one bright spot, I would doubt any commercial lender will be as flexible as CCC would be in the event that Wasps struggle to meet repayments. If things don't go as planned for Wasps in the next few years things could get very interesting.

I expect outrage as the poor taxpayer will be missing out on those lucrative payments. Weren't we told that it was a great deal for the taxpayer?

I would much rather the loan be repaid than continue to expose the taxpayer to risk. Although of course it has repeatedly been claimed that taxpayer money is not at risk.

The article says no discount on the loan amount (principle) however, no more interest. There is probably a penalty clause, but it certainly won't be pay the full interest

If CCC had any sense the interest would be front loaded and payable in the event of early repayment but this is CCC we're talking about so probably not the case.

Worryingly paying the loan off means any undertakings given to CCC about tenure for CCFC are likely to disappear too.

I find that hard to believe OSB, Lucas herself told us that CCC had ensured everything would be fantastic for CCFC and she would never mislead us would she?

 

[Moff]

Still waiting for Ann Lucas to come and pose for a picture because I employed an Electrician, Plumber, Carpenter and Plasterer and thought she would want to take the credit.

She might try and take all the credit though...you know 'its all about her'

 

[chiefdave]

Sounds like spurious bullshit to me.

Bit of a harsh review of your own article

 

[Nick]

She might try and take all the credit though...you know 'its all about her'

Damn, I had a hard hat and a shovel ready for the photographer for her too

 

[SimonGilbert]

Must be a slow news day if Simon is covering remortgages.

Any other buisnesses in the city paying off loans early? If so contact the Telegraph as it will be front page news.

It only made page 2

 

[Nick]

It only made page 2

Main news on the website

Anybody would think it is a CCFC match day or something.

 

[jimmyhillsfanclub]

Any chance of finding out what the early redemption penalties are??

I assume they are quite hefty & should be payable immediately.....

....although this obviously assumes the council didn't waive them away in the rush to fuck sisu & CCFC up the arse.......

 

[Moff]

It only made page 2

You dissapoint me

 

[DaleM]

I like this blokes comment


If Wasps want to pay off their mortgage even sooner,they should put Sisu`s rent up to pre-Northampton levels. After all , Wasps are not a charity.

What a wanker

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[Moff]

I like this blokes comment


If Wasps want to pay off their mortgage even sooner,they should put Sisu`s rent up to pre-Northampton levels. After all , Wasps are not a charity.

Was it signed by Ann Lucas or evryones favourite current day saint PWKH.

 

[chiefdave]

I can confidently predict if Wasps do put the rent back up it won't be Wasps fault and SISU will get the blame.

 

[SkyBlue_Bear83]

Worryingly paying the loan off means any undertakings given to CCC about tenure for CCFC are likely to disappear too. Whilst it is locked in for another year I wonder what the terms of the option are for the two years after and who can activate the option.

As I understand it Wasps are getting £100k ish from CCFC at the moment, there is a bit made on the car parking and the F&B's but with crowds so low it is not going to be a great amount. I wonder what the breakeven is for Wasps because that colours the their thinking going forward as to what they can offer CCFC. I also wonder what the relationship is between senior executives/owners on both sides.

more uncertainty for CCFC it seems to me

Lets not forget though that CCFC play almost twice as often as Wasps

23 games a season at 8-9k crowds is more fans through the turnstiles than 11 games at a 15k average.

 

[oldskyblue58]

Lets not forget though that CCFC play almost twice as often as Wasps

23 games a season at 8-9k crowds is more fans through the turnstiles than 11 games at a 15k average.

Unfortunately its not that simple. Its not just about the numbers turning up. It is all about the secondary spend and the time periods for that spend. Football fans tend to turn up close to the kick off and leave soon after the end of the game. Not the same for rugby crowds who stay longer and are more willing to part with cash. The spend per head will be different possibly significantly. Then factor in the hospitality business done - match days CCFC some of the restaurant space isn't used because they don't have the business, Wasps all areas are used.

Wasps of course do not receive any ticket income from CCFC match days

Equally its going to depend on how costs are allocated and there is a minimum level of cost to opening up the whole stadium. Depends when the deal was done what the forecast crowd numbers were, if breakeven was budgeted at 8900 then fine but if it was budgeted at 11000 then Wasps are not recovering all cost

Is it 11 games a season? checking the Wasps fixture it list looks like there will have been 18 home games this season in total (adams park & Ricoh). But it is not relevant really is it because CCFC gets its ticket income not Wasps.

So the income from CCFC matches for ACL/Wasps is day rental £100k, a share of F&B/hospitality and car parking. There are of course staffing and overhead costs to offset that

 

[Deleted member 5849]

What a wanker

There's a fair point made in there though. Wasps aren't a charity... and to expect a commercial business to roll over and give us a fabulous deal when they hold a monopoly on large-ish stadium supply in the area is... more optimistic than I am.

 

[torchomatic]

And on a match day too. What were the chances of that?

Sounds like spurious bullshit to me.

 

[SimonGilbert]

And on a match day too. What were the chances of that?

I only publish on match days.

Not sure what I'm going to do in the Summer.

 

[Deleted member 5849]

Not sure what I'm going to do in the Summer.

I have a fence needs creosoting.

 

[SimonGilbert]

I have a fence needs creosoting.

Sorry. I only do whitewashing apparently.

 

[Grendel]

I only publish on match days.

Not sure what I'm going to do in the Summer.

You can save them up. You know ones like Major Institute Attracted to The Ricoh by Wonderful Wasps in June but not tell us until a game is on.

 

[Nick]

I have a fence needs creosoting.

It's ok we can have an article about you hiring with a pic of ann Lucas

 

[mattylad]

Sorry. I only do whitewashing apparently.

Great come back lol

 

[John_Silletts_Nose]

I only publish on match days.

Not sure what I'm going to do in the Summer.

I thought you were still working as the tea boy?

 

[lordsummerisle]

There's a fair point made in there though. Wasps aren't a charity... and to expect a commercial business to roll over and give us a fabulous deal when they hold a monopoly on large-ish stadium supply in the area is... more optimistic than I am.

To be fair, seeing how much we got ripped off for for rent and other "costs" when ACL was half-owned by a charity, it might be good that Wasps aren't!

 

[mattylad]

I think they will be borrowing against the new deal on income from TV money agreed in mid March.

Premiership Rugby Ltd and BT Sport have announced a new six-year contract for exclusive live rights, understood to be worth around 80% more than the current agreement and the previous deal was worth £152 million

 

[lordsummerisle]

I think they will be borrowing against the new deal on income from TV money agreed in mid March.

Premiership Rugby Ltd and BT Sport have announced a new six-year contract for exclusive live rights, understood to be worth around 80% more than the current agreement and the previous deal was worth £152 million

Which is good money, but if they stupidly get rid of the wage cap like quite a few of the teams want to then they'll end up in the same boat as football has got where it virtually all ends up in the pockets of players and agents.

Also, counting chickens before hatched never a good idea, remember what ITV Digital did for us?

 

[SkyBlue_Bear83]

Unfortunately its not that simple. Its not just about the numbers turning up. It is all about the secondary spend and the time periods for that spend. Football fans tend to turn up close to the kick off and leave soon after the end of the game. Not the same for rugby crowds who stay longer and are more willing to part with cash. The spend per head will be different possibly significantly. Then factor in the hospitality business done - match days CCFC some of the restaurant space isn't used because they don't have the business, Wasps all areas are used.

Wasps of course do not receive any ticket income from CCFC match days

Equally its going to depend on how costs are allocated and there is a minimum level of cost to opening up the whole stadium. Depends when the deal was done what the forecast crowd numbers were, if breakeven was budgeted at 8900 then fine but if it was budgeted at 11000 then Wasps are not recovering all cost

Is it 11 games a season? checking the Wasps fixture it list looks like there will have been 18 home games this season in total (adams park & Ricoh). But it is not relevant really is it because CCFC gets its ticket income not Wasps.

So the income from CCFC matches for ACL/Wasps is day rental £100k, a share of F&B/hospitality and car parking. There are of course staffing and overhead costs to offset that

11 guaranteed games in the Aviva premiership I think, rest will be cup fixtures.

I considered it relevant because it increases match day revenue directly by fans spending at the Ricoh, if CCFC are getting at least the same number of fans through the turnstiles by virtue of having more matches as well as paying rent and match day costs. Then it would seem ignoring the non sporting side that CCFC are still the major contributor to ACL and they are still leeching off us.

And CCFC contribute to staffing and overhead costs as they pay match day costs still dont they? Which will go towards pitch maintenance, staff and other costs, this is on top of the 100k and any other costs like stewarding, ticket staff and emergency services are also covered by the club.
It would seem Wasps have got a very good deal out of us, 100k for the privilege of playing there, a contribution to match day costs, they don't have to hire stewards or ticketing staff or arrange emergency services and for all there hard work they get 50% of our match day revenue and 100% of any non match day revenue contributed by CCFC fans

 

[tisza]

Isn't also pretty much guaranteed money as there isn't going to be anymore relegation in the rugby premiership?
probably also having the knock-on effect of improved sponsorship income and other corporate income.

 

[bigfatronssba]

11 guaranteed games in the Aviva premiership I think, rest will be cup fixtures.

I considered it relevant because it increases match day revenue directly by fans spending at the Ricoh, if CCFC are getting at least the same number of fans through the turnstiles by virtue of having more matches as well as paying rent and match day costs. Then it would seem ignoring the non sporting side that CCFC are still the major contributor to ACL and they are still leeching off us.

And CCFC contribute to staffing and overhead costs as they pay match day costs still dont they? Which will go towards pitch maintenance, staff and other costs, this is on top of the 100k and any other costs like stewarding, ticket staff and emergency services are also covered by the club.
It would seem Wasps have got a very good deal out of us, 100k for the privilege of playing there, a contribution to match day costs, they don't have to hire stewards or ticketing staff or arrange emergency services and for all there hard work they get 50% of our match day revenue and 100% of any non match day revenue contributed by CCFC fans

Wow, I know people are bitter and twisted but this must be right up there amongst the best.

Whilst in league 1 CCFC have an excellent deal at the Ricoh. As for leeching, do you really think a £100k rent and selling a few manky pies is going to make much difference to ACL paying off a £14m debt.

 

[stupot07]

Wow, I know people are bitter and twisted but this must be right up there amongst the best.

Whilst in league 1 CCFC have an excellent deal at the Ricoh. As for leeching, do you really think a £100k rent and selling a few manky pies is going to make much difference to ACL paying off a £14m debt.

As OSB says we have a 2 + 2 year deal, and it's unclear whether those same assurances for the additional 2 years will still stand after CCC are out of the picture.

Also what happens in 3 years time?

Also, we have every right to feel bitter about the wasps deal, I find it odd that some aren't bothered. Bizarre really,


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[SkyBlue_Bear83]

Wow, I know people are bitter and twisted but this must be right up there amongst the best.

Whilst in league 1 CCFC have an excellent deal at the Ricoh. As for leeching, do you really think a £100k rent and selling a few manky pies is going to make much difference to ACL paying off a £14m debt.

In my defence I'm just pro CCFC, alien concept to some I know

 

[SkyBlue_Bear83]

Wow, I know people are bitter and twisted but this must be right up there amongst the best.

Whilst in league 1 CCFC have an excellent deal at the Ricoh. As for leeching, do you really think a £100k rent and selling a few manky pies is going to make much difference to ACL paying off a £14m debt.

The old whilst in league 1 argument, so you have no ambition to get out of league 1 and sustain a higher level of football ever?

 

[stupot07]

The old whilst in league 1 argument, so you have no ambition to get out of league 1 and sustain a higher level of football ever?

He'll ask for evidence then dismiss the graphs....


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[tisza]

Isn't the current deal significantly better than the sixfields deal which was for a pretty ordinary League 2 ground? and where we paid for a new pitch at least ACL are paying for this pitch.

 

[stupot07]

Isn't the current deal significantly better than the sixfields deal which was for a pretty ordinary League 2 ground? and where we paid for a new pitch at least ACL are paying for this pitch.

Good thinking. The ricoh is 5x the stadium Sixfields is, we should pay proportional rent....what's 5x£250k....


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