So they've purchased ACL for £5.54 million plus taking over the £14.4m loan. QUOTE]
How much has it cost Wasps for 100% of the stadium ?
is it £20 million if effect ?
Not a chance in hell of this happening. Wasps need the profits of CCFC business to pay back the loan. CCFC need to get out and get its own stadium.This will rankle with many on this site but today’s announcement signals the start of the future for CCFC not the end of the Club.
Things will go one of two ways; either CCFC will build their new ground or they will stay at the RICOH and eventually be part of the ownership structure. My hunch is the latter is the more likely.
The fact that today SISU have been rejected as partners does not mean that the owners of the RICOH, will not, at some stage desire to sell part of the shares, or establish viable partnerships with other companies.
SISU’s biggest issue has been that they have demonstrated time and time again that they are impossible to work with, so it is questionable as to why would anyone want to agree to deal with them?
It is fully understandable that there is massive resentment for all parties in this scandal, but I think that we have now arrived at the hiatus that is needed for CCFC to go forward and not round in circles.
My view is that today is not the day when CCFC was excluded from a deal to own their own stadium but the day when a new approach had to start.
I predict that within two years the owners of CCFC will be working in partnership with the owners of the RICOH and as such we will have our own stadium. It’s impossible to predict who the owners of CCFC will be, but I’d wager it will not be SISU.
The darkest hour is always just before the dawn.
Time's up SISU. Time to leave, leave us in peace.
This will rankle with many on this site but today’s announcement signals the start of the future for CCFC not the end of the Club.
I hope you're right, I fear you're not. I can't see any reason, other than financial difficulties, for Wasps to sell a stake in the Ricoh to us. So that leaves either renting, which we keep getting told by SISU isn't viable, or a new ground which is going to add to our debt by tens of millions and then probably won't even be in the city meaning lower attendances. Finding it hard to see any positive in this.
Simon : I don't suppose you are privvy to details of the 2 bids?
All I know is that Wasps paid Higgs £2.77million for their shares, the same as they paid the council.
No idea on CCFC's bid contents. Will keep asking, although they might prefer it to come out through sources closer to the club.
I hope you're right, I fear you're not. I can't see any reason, other than financial difficulties, for Wasps to sell a stake in the Ricoh to us. So that leaves either renting, which we keep getting told by SISU isn't viable, or a new ground which is going to add to our debt by tens of millions and then probably won't even be in the city meaning lower attendances. Finding it hard to see any positive in this.
Not a chance in hell of this happening. Wasps need the profits of CCFC business to pay back the loan. CCFC need to get out and get its own stadium.
Simon - have they actually handed over any money yet or refinanced the loan?
Wasps have just bought a stadium because they needed there own to survive...they will not be selling any of it anytime. CCFC will have to now push on and build its own.Not sure that's the only way. Wasps can get some or all of their money back by increasing the value of the asset by running it effectively and then by selling part of that increased asset. Wasps will have paid nearly 6 million for the RICOH and agreed to take on the mortgage. It is entirely feasible that the value of the RICOH business will exceed the 6 million and could very easily double it in future. Wasps know they can get their money back. The charge for the mortgage is of little consequence if structured correctly and as long as revenue is maintained will not be an issue for potential partners.
There will never be a new stadium.
So they aren't paying the loan off? Just having the name transfered? Or I assume it will just stay in ACL's name but they own ACL
So they aren't paying the loan off? Just having the name transfered? Or I assume it will just stay in ACL's name but they own ACL
Wasps have just bought a stadium because they needed there own to survive...they will not be selling any of it anytime. CCFC will have to now push on and build its own.
Not a cat in hell's chance they will build a stadium.Wasps have just bought a stadium because they needed there own to survive...they will not be selling any of it anytime. CCFC will have to now push on and build its own.
Not a cat in hell's chance they will build a stadium.
People also said they'd never go to sixfields
Even if they managed to increase the value of ACL to 20m and sold half that is about two years wages in the rugby premiership and they are now only going to get half of the revenue stream each year to support its ongoing wages. They will not sell simple as that.Yes Wasps bought a stadium because they needed one to survive, but they also bought into a business with very big potential. If we say the ACL Cost hem 6 million, it is not unreasonable for the value of that business to exceed double that in future. The incentive for WASPS to increase value and to sell on is obvious. Think about it, an effective RICOH /ACL business with good revenue streams could easily exceed 10 million in value. Sell 50% of that and they have effectively got a stadium business for 1 million and will have shared all the risk.
That's the reason for growing the business.
Going to Sixfields required no investment. A new stadium will cost 30 million minimum. Its not going to happen.
Higgs to get 50p from every ticket sold in the new Higgs Charity Stand as the North stand will be renamed...pass the sick bucket
The big problem is there is little to no chance of getting an investment from the likes of Tesco that contributed to the Ricoh build. It would have to be funded through financing which would then mean a huge mortgage to pay. Is this going to be in anyway viable. SISU now need to start giving details and present their business case for the new stadium.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?