Wasps owner Derek Richardson explains Coventry move and rejects "franchise" tag (5 Viewers)

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Grendel

Grendel

Well-Known Member
italiahorse said:
But they did. So how can you assume it changed?


  1. ACL took a 50 year sublease of the Arena from CNR, with the option ofpaying a £1.9m per annum rent or a premium of £21m. In addition, “superrent” was payable, based on ACL’s net profit before tax, of 10% on profitsover £3.75m rising to 50% of profits over £7.75m.
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Oh dear
 
Grendel

Grendel

Well-Known Member
italiahorse said:
.... and they paid £1M for it.
IMHO it makes sense for CCC to take some rent otherwise it does feel like poor business.
The point I'm making is no one on here knows and personal arguments are futile.
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Why not ask the council otmr seek a FOI request if they don't answer?
 
D

Deleted member 5849

Guest
italiahorse said:
I've already done it and they can't disclose any details.
I guess it will come out in the accounts unless they have the same accountant as SISU.
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'Can't'

Interesting...

Have you appealed the decision?
 
italiahorse

italiahorse

Well-Known Member
chiefdave said:
How many times have they paid the superrent?
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stupot07 said:
They never made profits of more than £1m, so never paid any super rent. Wasps will just move money around so they don't have to pay any super rent.
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I never said they did. The point is it was in the old contract and IMHO it makes sense to carry it on.
Yes, profits can be hidden but there would be safeguards I assume.
 
Grendel

Grendel

Well-Known Member
stupot07

stupot07

Well-Known Member
italiahorse said:
I'll just wait for the Wasps accounts email they promised me :whistle:
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It won't be in their accounts, it will be in ACL's if any. It's ACL that have the lease agreement with CCC not wasps.


Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors :)
 
stupot07

stupot07

Well-Known Member
italiahorse said:
I never said they did. The point is it was in the old contract and IMHO it makes sense to carry it on.
Yes, profits can be hidden but there would be safeguards I assume.
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I doubt there will be. Anyway, 10% on £3.5m profit is 1/4 of the rent we used to pay its peanuts, not sure why you're trying to big it up.


Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors :)
 
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Ian1779

Ian1779

Well-Known Member
italiahorse said:
She says get back on thread and Wasps are not a franchise.
Good enough for me.
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So the definition of a franchise has now got nothing to do with upping sticks and moving 85 miles, but instead if you're owned by a hedge fund.

Good logic there.
 
I

Intheknow

New Member
Grendel said:
No we know the deal was heavily put in favour of wasps and we know that it was reported at the time £1 million was taken off the loan. It's a fairly good assumption that's the freehold. It will be a peppercorn freehold no doubt.
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It is reported that £1m was not taken off loan but repaid. Big difference.
 
Nick

Nick

Administrator
Intheknow said:
Very true. Knowledge helps. But many on here profess knowledge but clearly have none.
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Still a bit confused as to why somebody in your position would take the time to go onto a football forum of a team they have no interest in?

Surely this sort of PR exercise is way below your pay grade?
 
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