Wasps takeover bid could be agreed in private (9 Viewers)

chiefdave · Sep 26, 2014

Otis said:
Well obviously ACL should give Sisu at least the opportunity to bid.

This comes back to the same old thing though, if SISU want to own the Ricoh put a bid in! They don't need anyones permission to submit a bid. They can get their own valuation done and make a conditional offer subject to due diligence confirming any assumptions they have made. A simple statement on the website saying they have submitted a bid puts the fans in the know and it is rejected by CCC & Higgs a statement to that effect.

If they went down that route there would be pressure on CCC & Higgs to justify their response. At the moment SISU are making it too easy for them, anyone questions their actions and they can just say we can't sell to SISU as they've never made an offer.

Otis · Sep 26, 2014

chiefdave said:
This comes back to the same old thing though, if SISU want to own the Ricoh put a bid in! They don't need anyones permission to submit a bid. They can get their own valuation done and make a conditional offer subject to due diligence confirming any assumptions they have made. A simple statement on the website saying they have submitted a bid puts the fans in the know and it is rejected by CCC & Higgs a statement to that effect.

If they went down that route there would be pressure on CCC & Higgs to justify their response. At the moment SISU are making it too easy for them, anyone questions their actions and they can just say we can't sell to SISU as they've never made an offer.

What I mean, Dave, is that they obviously haven't bid, but there are now talks with Wasps about a bid. I'm just implying that this shouldn't be exclusive and a closed shop.

Sisu should still have the opportunity to bid and talks shouldn't have gone so far down the line with Wasps that there's no turning back.

The opportunity should be there for Sisu to still bid and it shouldn't be too late to do so and it should be made clear that if talks with Wasps are reaching a conclusion that they be put on hold if Sisu come forwards.

stupot07 · Sep 26, 2014

Otis said:
What I mean, Dave, is that they obviously haven't bid, but there are now talks with Wasps about a bid. I'm just implying that this shouldn't be exclusive and a closed shop.

Sisu should still have the opportunity to bid and talks shouldn't have gone so far down the line with Wasps that there's no turning back.

The opportunity should be there for Sisu to still bid and it shouldn't be too late to do so and it should be made clear that if talks with Wasps are reaching a conclusion that they be put on hold if Sisu come forwards.

Agreed. The bloody stadium was built for us, regardless of our shit owners, the club should have first refusal. But the non-disclosure agreements means, ACL can't say "wasps are paying this"

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Grendel · Sep 26, 2014

stupot07 said:
Agreed. The bloody stadium was built for us, regardless of our shit owners, the club should have first refusal. But the non-disclosure agreements means, ACL can't say "wasps are paying this"

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No and I wonder if they will take over the loan. I suspect not. It looks like good old ACL aren't doing that well after all?

chiefdave · Sep 26, 2014

stupot07 said:
Agreed. The bloody stadium was built for us, regardless of our shit owners, the club should have first refusal. But the non-disclosure agreements means, ACL can't say "wasps are paying this"

Could getting SISU to match the offer be the plan? Like putting something on eBay and getting your mate to bid on it to bump the price up. Totally made up figures but say CCC have a valuation that say it's only worth £20m, what if they say we have a bid for £30m match it or we're selling.

Could equally work for Wasps, they have been refused planning permission by the local council, would it help them and say we're agreed to buy another stadium, this is your last chance to help us out or we're moving.

Rusty Trombone · Sep 26, 2014

oldfiver said:
Council will retain a controlling vote

Incorrect.

letsallsingtogether · Sep 26, 2014

Grendel said:
No and I wonder if they will take over the loan. I suspect not. It looks like good old ACL aren't doing that well after all?

Well it seems a bit funny that anyone would buy it if it was making a loss,
It's not like the Wasps are awash with money.....

Just my opinion I don't really know enough about it yet to make a judgement ether way.......

Broken Hearted Sky Blue · Sep 26, 2014

Grendel said:
No and I wonder if they will take over the loan. I suspect not. It looks like good old ACL aren't doing that well after all?

You "wonder" and "suspect" and as per usual know fuck all!

theferret · Sep 26, 2014

letsallsingtogether said:
Just my opinion I don't really know enough about it yet to make a judgement ether way.......

You know that Wasps want to buy a 90% stake in ACL, putting an end to the prospect of the football club you support owning the ground they play in and ending any prospect of the club being bought out in the near future. You know that, yet can't make a judgement either way. Seriously?

Rusty Trombone · Sep 26, 2014

theferret said:
You know that Wasps want to buy a 90% stake in ACL, putting an end to the prospect of the football club you support owning the ground they play in and ending any prospect of the club being bought out in the near future. You know that, yet can't make a judgement either way. Seriously?

The club could buy that share now or in the future if they want to pay for it.

Limey · Sep 26, 2014

Rusty Trombone said:
The club could buy that share now or in the future if they want to pay for it.

Could they though? If this deal goes through with CCFC still being tenants then that's a very precarious position for our club to be in....

stupot07 · Sep 26, 2014

Rusty Trombone said:
The club could buy that share now or in the future if they want to pay for it.

If wasps buy it and gradually move up and they will - it will start with European games, then 1 or 2 league games then hey presto they're playing all of their games there. When that happens they won't want to see those shares because like us they need every penny they can get, like us they have been pissing money away with big losses year on year. They'll need as much revenue to compete to get into Europe and stay in Europe.

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letsallsingtogether · Sep 26, 2014

theferret said:
You know that Wasps want to buy a 90% stake in ACL, putting an end to the prospect of the football club you support owning the ground they play in and ending any prospect of the club being bought out in the near future. You know that, yet can't make a judgement either way. Seriously?

But what exactly do ACL own????

I thought they were just the management company after all Sisu wanted to buy half the ground and then get AEG to take over from ACL?

So please advise will they actually own the Ground or not?

stupot07 · Sep 26, 2014

letsallsingtogether said:
But what exactly do ACL own????

I thought they were just the management company after all Sisu wanted to buy half the ground and then get AEG to take over from ACL?

So please advise will they actually own the Ground or not?

They will own the lease/leasehold and right to run and gain income from the Ricoh for 40 years +. I wouldn't be surprised if the leasehold was extended to 100 years under this deal.

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letsallsingtogether · Sep 26, 2014

stupot07 said:
If wasps buy it and gradually move up and they will - it will start with European games, then 1 or 2 league games then hey presto they're playing all of their games there. When that happens they won't want to see those shares because like us they need every penny they can get, like us they have been pissing money away with big losses year on year. They'll need as much revenue to compete to get into Europe and stay in Europe.

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Exactly that is why if they move to Coventry it will be the Death of their Club, just like would have been for CCFC if we had stayed in Northampton.

It just doesn't work and we should know better then anyone.

stupot07 · Sep 26, 2014

letsallsingtogether said:
Exactly that is why if they move to Coventry it will be the Death of their Club, just like would have been for CCFC if we had stayed in Northampton.

It just doesn't work and we should know better then anyone.

So why isn't everyone on here champing at the bit?

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letsallsingtogether · Sep 26, 2014

Oh so they won't own the ground then?????

By the way I am not happy with this.

It is just that some posters have really got upset about this, but were happy to watch City in Sixfields joined none of the demonstrations and then question others loyalties.

stupot07 said:
They will own the lease/leasehold and right to run and gain income from the Ricoh for 40 years +. I wouldn't be surprised if the leasehold was extended to 100 years under this deal.

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theferret · Sep 26, 2014

letsallsingtogether said:
But what exactly do ACL own????

I thought they were just the management company after all Sisu wanted to buy half the ground and then get AEG to take over from ACL?

So please advise will they actually own the Ground or not?

Well yes, for the length of the lease (I suspect it will not be much less than 50 years), they will to all intents and purposes. Just because the council will retain ownership of the freehold, it doesn't mean they have any control.

stupot07 · Sep 26, 2014

letsallsingtogether said:
Oh so they won't own the ground then?????

By the way I am not happy with this.

It is just that some posters have really got upset about this, but were happy to watch City in Sixfields joined none of the demonstrations and then question others loyalties.

A leasehold is pretty much owning the ground. When people buy flats it is nearly always a leasehold.

There's a subtle difference between a temporary groundshare and a permanent relocation. And no one was happy with Sixfields, even those that attended.

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theferret · Sep 26, 2014

Rusty Trombone said:
The club could buy that share now or in the future if they want to pay for it.

Well yes, but they won't, because they're shits. That's why we, the supporters, should put as much pressure on the council to end this nonsense. If we don't, and this goes through, the club is fucked. Proper fucked.

Grendel · Sep 26, 2014

letsallsingtogether said:
Oh so they won't own the ground then?????

By the way I am not happy with this.

It is just that some posters have really got upset about this, but were happy to watch City in Sixfields joined none of the demonstrations and then question others loyalties.

Look no one was happy about it. It's the least games I watched for a season by a long way in 40 years.

The fact is this presents a far bigger potential issue to the long term viability of this club yet no one seems bothered at all.

letsallsingtogether · Sep 26, 2014

We are waiting for someone to organise something so we can join in.
Taking a bit of a backseat at the moment, to see how all the others that couldn't be bothered to do anything bar slag off anything we did felt like.

stupot07 said:
So why isn't everyone on here champing at the bit?

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Ian1779 · Sep 26, 2014

skybluetony176 said:
Well that's as good as cast iron then. You can believe that if you want to. I'll believe it when I see it in writing and signed off by JS.

Amazing.... you couldn't dismiss this comment any quicker if you tried.... YET when Fisher mentioned the word liquidation in an interview as something that could potentially happen given the financial position you and everyone else goes into meltdown as if the words were handed down to us by God.

You couldn't make it up.

letsallsingtogether · Sep 26, 2014

Fuck me G of course we are bothered but everyone is expecting the usual suspects to do all the fighting again, come on we need a hand not just all this shit about nobody caring.
About time people got off their arses if they feel this strongly about it.

Fed up of having 20 on the hill 5 of us Ribboning every month and then coming on here and being ridiculed.

PEOPLE NEED TO STAND UP AND BE COUNTED OR JUST SHUT THE FUCK UP and what will be will be.

Grendel said:
Look no one was happy about it. It's the least games I watched for a season by a long way in 40 years.

The fact is this presents a far bigger potential issue to the long term viability of this club yet no one seems bothered at all.

hinkleee boyz · Sep 26, 2014

The question should be, why are some of you getting upset? You ARE a franchise town already i.e. the Blaze. No protest there. Your football teams owners took them away from the city and you protested, fair enough. But as for the Rugby Union issue, the sport has moved in a completely different direction and has a different type of supporter. Coventry got left behind. Worcester Warriors didn't even exist, nor the likes of Newcastle Falcons, they were created. So WASPs turning up in Coventry wouldn't be an earthquake. Rugby fans are rarely as diehard and committed as football fans. If there was a good product on offer the local middle class would attend. That is why over a 1,000 season ticket holders at Leicester Tigers are from the Coventry area, more than go to the local club! As for your football club, even an outsider can see your owners are cretins and have fucked you up!

Ian1779 · Sep 26, 2014

letsallsingtogether said:
Fuck me G of course we are bothered but everyone is expecting the usual suspects to do all the fighting again, come on we need a hand not just all this shit about nobody caring.
About time people got off their arses if they feel this strongly about it.

Fed up of having 20 on the hill 5 of us Ribboning every month and then coming on here and being ridiculed.

PEOPLE NEED TO STAND UP AND BE COUNTED OR JUST SHUT THE FUCK UP and what will be will be.

I think some people's reaction to the news has been a surprise.

Ultimately we are just talking about things that could potentially happen, but the perceived (not necessarily the case) viewpoint is that ACL are OK in trying to sell off the long term lease of the Ricoh. As such we COULD become second class (and second choice) in a stadium that was built for the football club.

People using the argument that SISU keep saying they will build their own stadium - which incidentally has become own in recent times, are forgetting the fact that we were never going to ever rent apparently... well that changed, and in all likelihood the plan to return would had changed to a long term deal once trust has been built up.

ACL have a duty to the people of Coventry, and that means the CCFC and CRFC fans. They may only be a business, but when they waded into this field of business they took on a duty of responsiblity to the fans as well as taxpayers.

Selling the stadium lease to a club of a different sport.. and essentially condoning Franchise sport is unacceptable. Especially when said company tried to sue NTFC for allowing CCFC to groundshare with them.

On this occasion the majority of the blame lies firmly at the door of ACL. Trying to spin it to somehow say the club is at fault for ACL's actions is absurd.

EDIT: Final word - it just goes to show how fucking ridiculous this set up was when it was instigated back in 2003.

Grendel · Sep 26, 2014

letsallsingtogether said:
Fuck me G of course we are bothered but everyone is expecting the usual suspects to do all the fighting again, come on we need a hand not just all this shit about nobody caring.
About time people got off their arses if they feel this strongly about it.

Fed up of having 20 on the hill 5 of us Ribboning every month and then coming on here and being ridiculed.

PEOPLE NEED TO STAND UP AND BE COUNTED OR JUST SHUT THE FUCK UP and what will be will be.

You may be bothered and so may I but I suggest to you that many are not.

I know we have had many arguments on here but my guess is that we would probably not have many arguments if we met face to face as ultimately we both share the same common interest and have the same memories.

The Sixfields move was always going to create issues because of the unique situation but this is far more serious. Its a real problem as it means the club cannot be sold as its worthless at its homeless.

The argument sisu should match the offer is irrelevant to fans. Or at least it should be. Sisu are not the club the fans are.

I think a lot of people welcome this and I think this means a death knell for the club.

Its that serious.

Rusty Trombone · Sep 26, 2014

Limey said:
Could they though? If this deal goes through with CCFC still being tenants then that's a very precarious position for our club to be in....

I agree about a possible concern for the club, but it doesn't change the fact that if our owners are prepared to buy the shares they are free to try and do a deal, I'd have thought it would be cheaper to buy from Higgs compared to buying from a new consortium.

Grendel · Sep 26, 2014

Rusty Trombone said:
I agree about a possible concern for the club, but it doesn't change the fact that if our owners are prepared to buy the shares they are free to try and do a deal, I'd have thought it would be cheaper to buy from Higgs compared to buying from a new consortium.

How would you know if they would even consider a bid from the owners of the Club?

Rusty Trombone · Sep 26, 2014

Grendel said:
How would you know if they would even consider a bid from the owners of the Club?

I don't and it will remain a hypothetical question until they make a bid.

Grendel · Sep 26, 2014

Rusty Trombone said:
I don't and it will remain a hypothetical question until they make a bid.

They are currently unable to as the Council have decreed the current bid is a private undisclosed bid.

stupot07 · Sep 26, 2014

hinkleee boyz said:
The question should be, why are some of you getting upset? You ARE a franchise town already i.e. the Blaze. No protest there. Your football teams owners took them away from the city and you protested, fair enough. But as for the Rugby Union issue, the sport has moved in a completely different direction and has a different type of supporter. Coventry got left behind. Worcester Warriors didn't even exist, nor the likes of Newcastle Falcons, they were created. So WASPs turning up in Coventry wouldn't be an earthquake. Rugby fans are rarely as diehard and committed as football fans. If there was a good product on offer the local middle class would attend. That is why over a 1,000 season ticket holders at Leicester Tigers are from the Coventry area, more than go to the local club! As for your football club, even an outsider can see your owners are cretins and have fucked you up!

Ha ha leicester fan wumming again

And letsallsingtogether liking it...

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skybluetony176 · Sep 26, 2014

Grendel said:
You may be bothered and so may I but I suggest to you that many are not.

I know we have had many arguments on here but my guess is that we would probably not have many arguments if we met face to face as ultimately we both share the same common interest and have the same memories.

The Sixfields move was always going to create issues because of the unique situation but this is far more serious. Its a real problem as it means the club cannot be sold as its worthless at its homeless.

The argument sisu should match the offer is irrelevant to fans. Or at least it should be. Sisu are not the club the fans are.

I think a lot of people welcome this and I think this means a death knell for the club.

Its that serious.

Holy shit. I agree completely with Grendull. Although I don't think as many people as you think welcome this. Yes there is undoubtedly some people who are so ecstatic at the prospect of someone getting one over on SISU that they've failed to notice that the club stand to take one as well.

hinkleee boyz · Sep 26, 2014

Perhaps as you are all too emotionally close to the situation you can not see a potential positive. If WASPs do buy the Ricoh it could give a new
direction for the football club, i.e. they can try and build a new stadium IN Coventry whilst they are renting, as the council would probably be less
inclined to block planning permission if they were free of the Ricoh complications. Just a thought. There must be a patch of land somewhere that can take
a 11,000 capacity modular stadium . Sorry, couldn't help myself there.

letsallsingtogether · Sep 26, 2014

Grendel said:
How would you know if they would even consider a bid from the owners of the Club?

From what I've heard you can't make an offer if you do not have the money????

Or if you do, do it through the back door.........

Wasps takeover bid could be agreed in private (9 Viewers)

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