MAFF
Well-Known Member
wow
Notice issued to Bondholders.
What a strange situation, asking for additional funds from people owed £35m to fund a marketing campaign for the sale of the arena.
Clearly, no suitors at this time.
Interesting. Do we think it could go back to the council and them cut their losses and try and get rid of the freehold?
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Interesting. Do we think it could go back to the council and them cut their losses and try and get rid of the freehold?
Sent from my SM-G991B using Tapatalk
Blimy.Notice issued to Bondholders.
What a strange situation, asking for additional funds from people owed £35m to fund a marketing campaign for the sale of the arena.
Clearly, no suitors at this time.
Notice issued to Bondholders.
What a strange situation, asking for additional funds from people owed £35m to fund a marketing campaign for the sale of the arena.
Clearly, no suitors at this time.
I said in a previous post that I didn't think there would be massively high bids.
It may well surprise us how little it goes for.
Or even better, someone such as Mike Ashley buys CCFC and the stadiumWhich, if the case, means it is imperative that CCFC end up with the lease.
I find it hilarious on here how arguments change from one minute to the next depending on who is being argued again. When CCFC are moving out it’s “what about the local economy? Wont somebody think of the small businesses?” Then when someone says the arena has benefitted the local economy suddenly it’s an outrageous idea
There are infinitely more jobs and investment in North Coventry thanks to that patch of land than there were when it was a gas tower. Come on.
Or even better, someone such as Mike Ashley buys CCFC and the stadium
Have you got that list?
Here’s a paper on using stadia for urban regeneration: Urban Regeneration and Sports Stadiums
It’s a fairly well accepted urban regeneration tool.
But then you seem to think a library was the main bit so this might a bit beyond you.
Aren't they two separate things? For example the pubs that benefit from our games haven't appeared as a result of the stadium being built, in fact its a common complaint that there is a lack of facilities around the ground.I find it hilarious on here how arguments change from one minute to the next depending on who is being argued again. When CCFC are moving out it’s “what about the local economy? Wont somebody think of the small businesses?” Then when someone says the arena has benefitted the local economy suddenly it’s an outrageous idea
There are infinitely more jobs and investment in North Coventry thanks to that patch of land than there were when it was a gas tower. Come on.
Still isI seem to remember there were scrap yards / vehicle breakers in Rowley's Green Lane years ago
It's hardly a surprised - why would a buyer want to pay off debts it doesn't have to - this is exactly the reason why the Arena has struggled from day 1. Sorry bondholders but you knew what you were getting yourselves into. Caveat emptor lads.
Like I said Merc dealersStill is
Yep, people will be waiting for Administration to see what happens to the £35m. Will the lease just be auctioned off to pay them back? Will CCC call it back and put it back to 50 years?
Is it even going to be worth £35m to be able to recoup it?
If you want to buy it you would be looking nearer the £15 million of the actual debt from the arena loan than the other £20 million that disappeared in interest payments and running costs. I am afraid the bond holders could end up short changed but never mind most were greedy bastards hunting massive returns.
Notice issued to Bondholders.
What a strange situation, asking for additional funds from people owed £35m to fund a marketing campaign for the sale of the arena.
Clearly, no suitors at this time.
SourceAshley is not interested -
That tells a story. I think this means ACL is going to go for a lot less than the bondholders think.
The valuation was always smoke and mirrors in my opinion; Wasps (like SISU) are masters of bullshit and they've burned a lot of people.
There's never been a better time to pick up an arena and the associated businesses on the cheap. If SISU don't do it can we have a whip round on here?
I think I'm only partly joking... 20,000 fans chucking in £500 each gets us to £10m. If we owned the stadium that's the club in Coventry forever. Who's going to start the campaign?
That tells a story. I think this means ACL is going to go for a lot less than the bondholders think.
The valuation was always smoke and mirrors in my opinion; Wasps (like SISU) are masters of bullshit and they've burned a lot of people.
There's never been a better time to pick up an arena and the associated businesses on the cheap. If SISU don't do it can we have a whip round on here?
I think I'm only partly joking... 20,000 fans chucking in £500 each gets us to £10m. If we owned the stadium that's the club in Coventry forever. Who's going to start the campaign?
Not a terrible idea. If the bid for the stadium is not won then everyone just gets their money backI'd put £500 in today if I thought this could happen
Source where he is?Source
Remember the discussion on this back when it happened and we all got told we were wrong and that the sale price of both ACL and then the lease extension to Wasps weren't linked to the valuation Wasps gave for the purposes of issuing the bond but it never stacked up for me. Always stuggled to see how they would sell it for £35m if it came to it.Yep, it was always amazing how it suddenly jumped up to £35m when they wanted to get the bonds.
I was thinking the same if it could be a supporter owned facility? Not as easy as that but did it cross my mind.That tells a story. I think this means ACL is going to go for a lot less than the bondholders think.
The valuation was always smoke and mirrors in my opinion; Wasps (like SISU) are masters of bullshit and they've burned a lot of people.
There's never been a better time to pick up an arena and the associated businesses on the cheap. If SISU don't do it can we have a whip round on here?
I think I'm only partly joking... 20,000 fans chucking in £500 each gets us to £10m. If we owned the stadium that's the club in Coventry forever. Who's going to start the campaign?
I'd put £500 in today if I thought this could happen
The thing WASPS want least is to not have enought to pay off bondholders and Compass from Arena sale
Then they are forced to sell P Shares and lose that income should they try an resurrect
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