Wasps bid for Ricoh Arena valued at £30million (1 Viewer)

[James Smith]

Well then, forget what sisu have and haven't done. This deal is just plane wrong, and this is hypocrisy.


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I agree with most if not all of that, the council and the Higgs shouldn't be encouraging Wasps to move.

 

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[SimonGilbert]

What's not clear from Gilbert's article is why the clause isn't triggered if the Council buy them, but might be if someone else buys them.

Gilbert - get onto it lad.

It appears the council has always had preferential purchase rights that override the club's first option on the Higgs' share of ACL.

The first option clause may still exist if it was passed to Otium as an asset from CCFC.

But the council can get around that potential legal challenge by buying Higgs' 50 per cent directly. They would then sell onto Wasps.


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[chiefdave]

Putting a statement / release together now for the morning and will do a thread here to follow up on the inevitable questions ;-)

If you been speaking with the club / SISU I'm really hoping your statement will be informing us that they will also be submitting a bid.

There's a sports club being moved from its community here. I know a few Wasps fans and they're absolutely gutted at the possibility of this happening.

Hopefully a few hundred of them will turn up and protest on Tuesday, if a decent number of our fans show up with a few hundred from Wasps and a few hundred from Cov RFC it will show a united front against the council facilitating a move by Wasps. I think that's really the only angle we can come from and it needs to be a united front, will be ineffective if it's just us lot protesting about Wasps being moved.

Not sure we are on a sound footing if we're going to base any protest on saying the council should be selling the ground to the club when the club keep saying we're moving out into a new ground. Of course that could all change very quickly with a clear statement from SISU.

What's not clear from Gilbert's article is why the clause isn't triggered if the Council buy them, but might be if someone else buys them.

It's not clear to me how any clause relating to us buying anything still exists when we've binned off the lease into a company that's being liquidated.

 

[James Smith]

The council are buying Higgs share for an undisclosed amount as the consortium cannot as that would exercise the clause to allow the club to make a bid.

I thought the option for us to get first refusal went when Ltd did and wasn't exercisable when we owed ACL money.

 

[Rusty Trombone]

Well at least we agree on something. I think this could mean the end of my club which I have supported since 1966, and to be honest that is all I am bothered about

I don't think it will cause the end of the club, but I think there's a real prospect that our situation will get worse before it gets better.

 

[limoncello]

I don't always write things in the order they appear in my finished posts. I also sometimes write them in open office and cut and paste them into tapatalk to post on here when finished as I prefer it for better spell check etc.

You are a very odd person.

 

[Rusty Trombone]

It appears the council has always had preferential purchase rights that override the club's first option on the Higgs' share of ACL.

The first option clause may still exist if it was passed to Otium as an asset from CCFC.

But the council can get around that potential legal challenge by buying Higgs' 50 per cent directly. They would then sell onto Wasps.


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Good work, you're not as shit at this as some people make out. All down to a good Callow teaching I suspect.

 

[skybluetony176]

It appears the council has always had preferential purchase rights that override the club's first option on the Higgs' share of ACL.

The first option clause may still exist if it was passed to Otium as an asset from CCFC.

But the council can get around that potential legal challenge by buying Higgs' 50 per cent directly. They would then sell onto Wasps.


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If CCC does buy the Higgs share first to allow the Wasps deal to go through. I guess we'll be able to find out how much the Higgs receive using FOI?

 

[James Smith]

Apologies then, I'd never considered someone writing the end bits before the middle bits.

I used to write English essays at school (back before computers were commonplace) in the same way. My teacher would get them handed in cut and pasted with pritt stick onto more A4 until she got sick of it and I had to write it all out again once I'd finished it.

 

[dongonzalos]

You are a very odd person.

That's what keeps life interesting thank god for unique people

 

[James Smith]

You are a very odd person.

You're not my boss posting under a pseudonym are you.

 

[James Smith]

If CCC does buy the Higgs share first to allow the Wasps deal to go through. I guess we'll be able to find out how much the Higgs receive using FOI?

Whilst it would be interesting to know what they pay, I seriously hope it doesn't happen.

 

[Nick]

You're not my boss posting under a pseudonym are you.

Does ann lucas have the internet?

 

[Jack Griffin]

They believe the charity itself paid 2 million for ACL the other 4.5 million was a debt owed to the owner if the charity. (I believe)

Spooky resonance there with Joy's supposed £2M offer.

 

[Jack Griffin]

Let the egg chasers have it and CCC can allow and find room for a proper football ground to be built nearer the city centre not some soulless arena which has been a disaster from day 1. Couldn't even get it open on time for the first game in 2005. Highfield Rd 3 as number 2 built in the Coventry area would have always been a no goer.

Unfortunately that ideal may be scuppered by statement from Mr Fisher about never dealing with CCC again.. mind you they returned to the Ricoh, so that is another entry in an increasingly long list of U-turns from SISU/ARVO.

 

[James Smith]

Does ann lucas have the internet?

What an awful thought, I prefer walking through the doors every morning and seeing my current manager (fitter, younger etc.). and also married

 

[tisza]

Can't someone go back through PWKHs posts because I thought he said (several times) the option had gone when we went through the closing of CCFC ltd etc?

 

[sky blue john]

I am expecting a toys out of the pram moment from Joy and Timmy very soon !

 

[RoboCCFC90]

I am expecting a toys out of the pram moment from Joy and Timmy very soon !

That might be the case but it doesn't solve anything does it? Therefore what "Joy and Timmy" (as you dubbed them) need to be doing is matching or bettering the 'bid' for ACL that Wasps have made.


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[stupot07]

It will be very interesting to see how CT report this going forward. Very quick to blame the club for not buying back the Higgs share, but after all the bring back cov campaign, etc that the telegraph ran with it's also hypercritical of them not to take the "it's wrong to move wasps 75 miles" stance, as well as the very likely detrimental impact it will have on cov rugby and us.

Will they be setting up a petition and running a #nowaspsincov campaign?


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[sky blue john]

That might be the case but it doesn't solve anything does it? Therefore what "Joy and Timmy" (as you dubbed them) need to be doing is matching or bettering the 'bid' for ACL that Wasps have made.


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Joy is a law unto herself she will do whatever she wants and what is best for her investors !
What's best for the club and fans has been shown time and time again not to be on her agenda.
She doesn't care what you or I think and have no influence over her decisions so there is not a lot of point in getting overly worked up !

 

[Nick]

That might be the case but it doesn't solve anything does it? Therefore what "Joy and Timmy" (as you dubbed them) need to be doing is matching or bettering the 'bid' for ACL that Wasps have made.


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Can't if they are blocked

 

[sky blue john]

That might be the case but it doesn't solve anything does it? Therefore what "Joy and Timmy" (as you dubbed them) need to be doing is matching or bettering the 'bid' for ACL that Wasps have made.


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Also i'm not sure what you mean with -
What still has to be solved ?

 

[Nick]

It will be very interesting to see how CT report this going forward. Very quick to blame the club for not buying back the Higgs share, but after all the bring back cov campaign, etc that the telegraph ran with it's also hypercritical of them not to take the "it's wrong to move wasps 75 miles" stance, as well as the very likely detrimental impact it will have on cov rugby and us.

Will they be setting up a petition and running a #nowaspsincov campaign?


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In theory they would be, will be interesting to see if they are biased if it happens. No mention of moving teams being wrong or the impact on our clubs just yet. Just interviews where people think it's right.

 

[skybluetony176]

That might be the case but it doesn't solve anything does it? Therefore what "Joy and Timmy" (as you dubbed them) need to be doing is matching or bettering the 'bid' for ACL that Wasps have made.


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Unfortunately Robo that flies in the face of their whole strategy to aquire the Ricoh. It would be nice if they made any offer of any sort so at least there's a line drawn in the sand and things (with the right attitude from both parties) might be able to move forward. Rob S has a meeting today so hopefully something positive comes out, unfortunately history has told us they prefer a different method of negotiations so as SBJ points out there is always the chance of toys coming out of the pram.

 

[sky blue john]

I'm sorry if I don't understand but I don't give a flying fuck about franchise rugby.
I also fail to see how this will effect CCFC unless the the current two year rental +two year option is off the table.
I would like someone to explain ?

 

[Deleted member 5849]

I'm sorry if I don't understand but I don't give a flying fuck about franchise rugby.

In which case you don't give a flying fuck about CCFC moving temporarily to Northampton... or permanently elsewhere when it can get a better financial deal for a stadium somewhere other than Coventry.

 

[Nick]

In which case you don't give a flying fuck about CCFC moving temporarily to Northampton... or permanently elsewhere when it can get a better financial deal for a stadium somewhere other than Coventry.

No, it's only wrong if it is sisu. Anybody else does it and it is just business or showing ambition.

 

[Ian1779]

Just some random thoughts:

SISU have said absolutely nothing on this so far
It would appear that the Wasps things has been going on for a while at least.. You'd be surprised if SISU hadn't got wind of it until we all did
SISU won't let the JR go - even when it's plain to see they have no chance of winning.

So are they interlinked?

Is the JR appeal their way of potentially blocking this deal? Is the JR appeal a distraction whilst they are silent partners in the Wasps transaction?

 

[sky blue john]

Those of you who have constantly slagged off the council, Acl and the Higgs I would have thought would be happy at the potential news ?
I have said all along that it is impossible for Sisu to get their hands on the Ricoh they have burnt to many bridges.
They had their chance to buy at least the Higgs share and blew it !
Wouldn't they be hypocrytical if they now objected or tried to block this sale ?

 

[Nick]

Just some random thoughts:

SISU have said absolutely nothing on this so far
It would appear that the Wasps things has been going on for a while at least.. You'd be surprised if SISU hadn't got wind of it until we all did
SISU won't let the JR go - even when it's plain to see they have no chance of winning.

So are they interlinked?

Is the JR appeal their way of potentially blocking this deal? Is the JR appeal a distraction whilst they are silent partners in the Wasps transaction?

Could this have gone as far back as ideas for a new stadium?

 

[stupot07]

Those of you who have constantly slagged off the council, Acl and the Higgs I would have thought would be happy at the potential news ?
I have said all along that it is impossible for Sisu to get their hands on the Ricoh they have burnt to many bridges.
They had their chance to buy at least the Higgs share and blew it !
Wouldn't they be hypocrytical if they now objected or tried to block this sale ?

Ha ha John on the wum. Keep this ACL apologist nonsense up and you'll soon be dubbed a 'usual suspect'


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[skybluetony176]

No, it's only wrong if it is sisu. Anybody else does it and it is just business or showing ambition.

I think he's saying that in his world it's only wrong if it's CCFC. Which is still wrong in itself. I'm sure you'd like it to be about SISU so you have the opportunity to talk about them but that's not what he said. To put it another way I'll use your favourite quote, ahem."where did he say it's only wrong if it is SISU? "

 

[sky blue john]

Ha ha John on the wum. Keep this ACL apologist nonsense up and you'll soon be dubbed a 'usual suspect'


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Yes I am wumming a little I don't deny.
But what will happen will happen and we have no say or control over it.
I do think that this is potentially not a bad thing but its only a theory.
My theory is this could make things easier for the clubs future purchase of the Ricoh because it would be a straight forward sale with one entity.
Also I hope Sisu decide to offload the club !

 

[Rusty Trombone]

Just some random thoughts:

SISU have said absolutely nothing on this so far
It would appear that the Wasps things has been going on for a while at least.. You'd be surprised if SISU hadn't got wind of it until we all did
SISU won't let the JR go - even when it's plain to see they have no chance of winning.

So are they interlinked?

Is the JR appeal their way of potentially blocking this deal? Is the JR appeal a distraction whilst they are silent partners in the Wasps transaction?

There's been so many twists in the whole of this journey that it would be hard to dismiss what you write, I can't see SISU being involved in this, but there's a nagging doubt that they could be.

It would be exciting, if it weren't so damn annoying.