That response to Nick doesn't even make sense in relation to what he posted. Its the worst deflection ever. Go and have a lie down and leave the keyboard for a few days.
Bet you're regretting being so nice to him a couple of days ago now!
I'm sure I saw a story or link a few years ago saying how Dereck Richardson had been sniffing around the Ricoh before he got involved with Wasps.
Does anybody else remember that and have a link to it if it isn't in fact my senility.
I'm sure I saw a story or link a few years ago saying how Dereck Richardson had been sniffing around the Ricoh before he got involved with Wasps.
Does anybody else remember that and have a link to it if it isn't in fact my senility.
Wasps have been buzzing around Ricoh Arena for yearsWhen Derek Richardson took over the club in 2013, things seemed rosy. After a period of gross uncertainty in which the two-time European Cup winners had come perilously close to both relegation and administration, here was a man who planned on taking the club forward – allegedly. A closer look at the facts suggests Richardson’s end game was not, in fact, the long term future of Wasps rugby club, but rather getting his hands on the Ricoh Arena.
It all started two years ago – and the date is of great significance. According to Coventry RFC president Peter Rossborough, speaking in a recent interview with the BBC, Richardson met with him two years ago to discuss a potential ‘merger’ between the two clubs – perhaps with one eye on the Ricoh. Crucially, this was well before Richardson had declared any commercial interest in Wasps, suggesting he had an interest in the Ricoh before taking over Wasps.
Do Wasps/ACL have a good or bad reputation for paying for local services or local suppliers does anyone know? Must be a few local contractors, service and goods suppliers I would think into the Ricoh. Do they pay 30,60,90,120days? When the solicitors letters arrive? Don’t know personally but must be people on here who work for service and goods suppliers into the Ricoh so was wondering what their experience is. Can be a good cash flow indicator.
Their turnover is just under the level for statutory reporting of such information
It's quite funny that people keep pointing facts out to them and their reply is to "get therapy" or try and act as if Les Reid has made it up.
You would think considering they apparently nearly went tits up so had to move they wouldn't have their heads in the sand so much.
It does explain why hardly any were fussed when they moved, they believe any old bullshit they are told.
It's quite funny that people keep pointing facts out to them and their reply is to "get therapy" or try and act as if Les Reid has made it up.
You would think considering they apparently nearly went tits up so had to move they wouldn't have their heads in the sand so much.
It does explain why hardly any were fussed when they moved, they believe any old bullshit they are told.
If only I gave a shit about Wasps. Then I would have known that they have already started cost saving with their squad. Mutiny with their players over broken promises? So the bond holders are unhappy. The players are unhappy. Their auditors are unhappy. Companies house are unhappy. Those running Wasps are unhappy as their dodgy way of doing the books has been uncovered.
Surely ownership would have to go to the Bondholders otherwise it's not really security? If it defaults back to the Council then where does it leave the bondholders?
No ones worried, only you. Were delighted at the news.
.
As I've asked before, what happens when Wasps leave ?
In my view, the only way CCFC will survive is at the Ricoh sharing the risk with Wasps.
If Wasps leave we are finished at the Ricoh and have no stadium.
I even see Sisu pulling the plug.
But hey, lets get rid of Wasps first and then see what happens.
Sometimes you have to look at the bigger picture.
As I've asked before, what happens when Wasps leave ?
In my view, the only way CCFC will survive is at the Ricoh sharing the risk with Wasps.
If Wasps leave we are finished at the Ricoh and have no stadium.
I even see Sisu pulling the plug.
But hey, lets get rid of Wasps first and then see what happens.
Sometimes you have to look at the bigger picture.
If Wasps know the shit is about to hit the fan whats to stop them having a lease with ACL2006 for 1p a year with primacy and all revenues going to Wasps?Surely ownership would have to go to the Bondholders otherwise it's not really security? If it defaults back to the Council then where does it leave the bondholders?
I do not follow your argument
How much does WASPS RUGBY contribute to ACL or whoever holds the lease?
If WASPs not there it does not stop CCFC playing there - after all think of all the NOPM's who will turn up
Stop peddling your pro wasps PR crap ffs. CCFC survived 130 years without the stadium thieves. I'm sure we'd survive just fine without them again.As I've asked before, what happens when Wasps leave ?
In my view, the only way CCFC will survive is at the Ricoh sharing the risk with Wasps.
If Wasps leave we are finished at the Ricoh and have no stadium.
I even see Sisu pulling the plug.
But hey, lets get rid of Wasps first and then see what happens.
Sometimes you have to look at the bigger picture.
I've asked you numerous times to back this up with an explanation. Why can approx. 80 clubs survive owning their own stadium but it would be a disaster for us?As I've asked before, what happens when Wasps leave ?
In my view, the only way CCFC will survive is at the Ricoh sharing the risk with Wasps.
If Wasps leave we are finished at the Ricoh and have no stadium.
As I've asked before, what happens when Wasps leave ?
In my view, the only way CCFC will survive is at the Ricoh sharing the risk with Wasps.
If Wasps leave we are finished at the Ricoh and have no stadium.
I even see Sisu pulling the plug.
But hey, lets get rid of Wasps first and then see what happens.
Sometimes you have to look at the bigger picture.
Like I said does anyone know for sure?Does anyone know for sure what would happen with the ownership of the arena if Wasps default on the payments of the bonds or they go back to where they belong? My guess would be ownership would pass to the bondholders.
My former post :
Risks relating the head lease of the Arena granted to ACL2006 Under the terms of the head lease granted by Coventry City Council (“CCC”) to Arena Coventry (2006) Limited (“ACL2006”) in respect of the Arena (the “Head Lease”), CCC have reserved the right to forfeit the Head Lease if ACL2006 becomes insolvent. Insolvency in this scenario means a situation where ACL2006 becomes unable to pay its debts, has a receiver/administrator/provisional liquidator appointed over its assets, has assets seized in order to pay debts of ACL2006 or has a winding-up order made against it. The effect of forfeiture would be that the 250 year Head Lease would fall away and that ACL would then become the tenant of CCC at the Arena for the remaining 38 years of its existing lease. However, the right of CCC to claim forfeiture of the Head Lease is not an automatic right. If CCC made a claim for such forfeiture, this could be contested by ACL2006, any third party that held security over ACL2006 and any subtenants of ACL2006 by making application to a court in England. Further, if an administrator was to be appointed over the assets of ACL2006, then CCC would not be able to forfeit the Head Lease without the consent of the appointed administrator or with the leave of the courts. If forfeiture was to take place prior to maturity of the Bonds, then U.S. Bank Trustees Limited, the entity that will hold the security on behalf of Bondholders, may not be in a position to assign the Head Lease for value in the event CCC forfeited the lease as described in the preceding paragraph. This may have an impact on the Bondholders’ ability to receive full repayment of their investment in the Bonds on the occurrence of such an insolvency event.
Eh?As I've asked before, what happens when Wasps leave ?
In my view, the only way CCFC will survive is at the Ricoh sharing the risk with Wasps.
If Wasps leave we are finished at the Ricoh and have no stadium.
I even see Sisu pulling the plug.
But hey, lets get rid of Wasps first and then see what happens.
Sometimes you have to look at the bigger picture.
As I've asked before, what happens when Wasps leave ?
In my view, the only way CCFC will survive is at the Ricoh sharing the risk with Wasps.
If Wasps leave we are finished at the Ricoh and have no stadium.
I even see Sisu pulling the plug.
But hey, lets get rid of Wasps first and then see what happens.
Sometimes you have to look at the bigger picture.
Better than Wasps having the 250 year lease.More than you obviously think.
Wasps own ACL.
If Wasps go then Sisu start again to get the freehold.
They have unfinished business.
Sharing what risk? CCFC does not need to share any of Wasps financial risks, it'd be stupid to do so.
The simple picture is that the Ricoh would be reasonably successful if not encumbered with debt like it has been since 2005.
Eh?
If SISU got their hands on the arena and used it to boost the value of CCFC before selling then happy all round.
If SISU got their hands on the arena and piled debt onto it like Wasps have then yes we would struggle.
I don't believe a lot of what is on here.Do you think he believes the absolute dross he keeps repeating?
More than you obviously think.
Wasps own ACL.
If Wasps go then Sisu start again to get the freehold.
They have unfinished business.
How convenient they fail to run this story but instead the '£26m' Butts stadium non-story emerged today.......the newly appointed London PR firm has been busy...NO !
He writes your script and you run with it. Not just this thread.
As I said the only people worrying about it are on here.
I could say Sisu are deflecting you from the real problem and you have fell into the trap.
The Wasps business is in its early days and yes it's probably not happening as quick as expected for some like institutional bond holders etc but it's moving in the right direction be it slowly.
I like their threads comment saying that they delayed the accounts to get this forum in meltdown.
Yup, I think most people, even if they felt the club had been screwed by the ACL deal, could at least understand why a council might want to at least control and / or protect its asset.Better than Wasps having the 250 year lease.
Don't think that's likely tbh.After this court case I half expect JR3 against Wasps for some reason.
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