Which there wasnt, According to you the ricoh on a 47 year lease was worth £60 million was it?
The council, to coin a popular phrase on here, moved the goalposts by extending the lease to 250 years. I can assure you even a small premises with a sub 50 year lease is worthless. A lease that equates to freehold makes the value rise massively.
I suggest you indulge in some introspection and ask yourself the following;
Why did the council never make acl a 250 year lease before selling to wasps?
Why did the council actually take a loan from the Yorkshire Bank at all when they had clearly agreed a same to wasps prior to the transfer?
Why, as Dave constantly says and you ignore, did they not say that they will sell the whole shooting match for less than £6 million with a lifetime lease and left the loan at the Yorkshire Bank
Why are you so proud of a council that, if they did all of the above, would, without question have raised the equity value of the children's charity share overnight?
Why did they insist on the loan in the first place rather than agree a set fee of £1.9 million a year for acl to pay (which was the alternate option) and at the same time allow a lifetime lease?
Still - apparantly you are proud and they had no choice - none at all.
As usual you ignore all the points he makes. Classic Tony.You see, this is why I think you're full of shit and never done a business deal in your life. Put aside your personal agenda, who did the deal, what the deal was for etc. You do realise that when you enter into negotiations on a business deal it's not just the price that is negotiable it's the terms to? Anyone who's ever done a deal ever whether that be a multi million pounds business deal or selling a second hand car would realise this yet apparently you are unaware of this and repeatedly come out with this nonsense. Why?
Forget SISU, they aren't who I'm talking about. I'm talking about the council getting the best return for the taxpayer. You might need to go back and read post 127 of this thread. The second point I made was purely about the sale process and getting the best return for the taxpayer, nothing to do with SISU.So hand on heart. You genuinely believe if ACL was put up for sale.
That if SISU were not in a position to put in an acceptable offer.
Or keep up with the bidding to Wasps for example.
Then SISU would have left it at that and patiently waited for the new buyer to make there bids.
But to get the go ahead to proceed they would have to demonstrate there was a case to be heard. What possible basis could they make for a case to be heard if there was and open sale process in which they didn't bid or were outbid?Regarding legal action I had no idea about the 2 JR's that are completely unwinable that they are wasting people's time with now.
And none of those points are relevant to what is being discussed. The discussion taking place is around one point and its not placing blame on CCFC's predicament on anyone.Why do you constantly go around in circles looking for someone to blame?
We know that SISU refused to negotiate.
We know that Fisher said that they would never have paid as much as Wasps as they took on the loan.
We know that CCC kept saying that they had interest in the arena and would sell it if SISU wouldn't negotiate on it.
We know that Fisher constantly said that we would never move back to the Ricoh and would build our own stadium.
Then we have your ifs, buts, mights, maybes and fantasies that you make out to be factual :shifty:
You see, this is why I think you're full of shit and never done a business deal in your life. Put aside your personal agenda, who did the deal, what the deal was for etc. You do realise that when you enter into negotiations on a business deal it's not just the price that is negotiable it's the terms to? Anyone who's ever done a deal ever whether that be a multi million pounds business deal or selling a second hand car would realise this yet apparently you are unaware of this and repeatedly come out with this nonsense. Why?
As usual you ignore all the points he makes. Classic Tony.
As usual you ignore all the points he makes. Classic Tony.
Points? Oh, you mean bullshit.
That ignored every point I made tiny Tony - that's why I do do business deals and you don your overalls every morning.
Try answering point one. Let's start.
So answer those points Tony.
Why didn't ACL commence like with a lease similar to freehold as most businesses would? I can't think of any that would have a lease under 100 years.
So Tony why did acl? Let's have a mature conversation - Tony your turn.
You've never had a mature conversation in your life.
True or false? ACL as a company from 2005/06 was hamstrung by the £21m lease premium on a 50 year lease. This forced them to set a disproportionate and excessive rent for CCFC. All made necessarily purely by council mismanagement.Points? Oh, you mean bullshit.
True or false? ACL as a company from 2005/06 was hamstrung by the £21m lease premium on a 50 year lease. This forced them to set a disproportionate and excessive rent for CCFC. All made necessarily purely by council mismanagement.
IMO thats why they sold ACL and a huge lease extension, way past the lifetime of the stadium so effectively the freehold, rather than the freehold itself.I'm sure they have regulations and rules about tendering and commissioning and the need to get the best value for money possible, this is public tax payers money after all.
True or false? ACL as a company from 2005/06 was hamstrung by the £21m lease premium on a 50 year lease. This forced them to set a disproportionate and excessive rent for CCFC. All made necessarily purely by council mismanagement.
IMO thats why they sold ACL and a huge lease extension, way past the lifetime of the stadium so effectively the freehold, rather than the freehold itself.
There are far more regulations that come in to play if they sold the freehold including a requirement for it to be placed on the open market and properly marketed and a requirement to be able to prove they have got best value for the taxpayer.
But it is limited, undervalue sales shouldn't be undervalue by more than £2m and should be for either environmental, social or economic improvement.Worth remembering that best value for taxpayers is ambiguous and doesn't have to be in monitory terms.
Personally, i think they did it to prevent sisu/ccfc from buying it.ok
why did the council not want to create a bidding war and have a big open transparent sale of ACL. If such a method was going to earn more money for them and the charity?
Dave, Grendel Stu please enlighten us?
Personally, i think they did it to prevent sisu/ccfc from buying it.
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Which there wasnt, According to you the ricoh on a 47 year lease was worth £60 million was it?
(Nope the Ricoh full stop was worth at least 60 million, not ACL the management business running it. Think we have had this conversation 20 times now, never mind keep making things up one day it will stick)
The council, to coin a popular phrase on here, moved the goalposts by extending the lease to 250 years. I can assure you even a small premises with a sub 50 year lease is worthless. A lease that equates to freehold makes the value rise massively.
I suggest you indulge in some introspection and ask yourself the following;
Why did the council never make acl a 250 year lease before selling to wasps?
(Don't know you tell me you keep asking me I keep telling you I don't know I ask you for the answer you never give it me then say I am avoiding the question, first few times it was amusing now it's a bit bizzare.The only guess I can give is they wanted to sell it as did the charity and they may have struggled to get a buyer doing that? Otherwise I have no idea)
Why did the council actually take a loan from the Yorkshire Bank at all when they had clearly agreed a same to wasps prior to the transfer?
( not sure I understand the question, but they agreed the loan to stop ACL going bust over the rent strike which I can only assume was designed to devalue ACL and/or make it go bust like the High court Judge said after he saw all the evidence. I assume you don't know more than him?)
Why, as Dave constantly says and you ignore, did they not say that they will sell the whole shooting match for less than £6 million with a lifetime lease and left the loan at the Yorkshire Bank
(Dave has said why did they not have a open transparent sale. To which I have answered why I don't think they did (to avoid legal action and other attempts by SISU to prevent a derail a sale to anyone else ) To which you Dave and Stu disagreed and I have now asked you Dave and Stu why you think it was a secret deal. Stu has answered the question. In all of the above you have avoided it)
Why are you so proud of a council that, if they did all of the above, would, without question have raised the equity value of the children's charity share overnight?
( ACL was getting devalued by SISU. The council stopped this process and with the agreement if the children's charity got it sold and got them more money than they were offered by SISU and got them ongoing money. So yes still proud of them. Sorry you can repeat that phrase as much as you like. They stood up when it counted. Where I think many other councils would have took the easy way out. )
Why did they insist on the loan in the first place rather than agree a set fee of £1.9 million a year for acl to pay (which was the alternate option) and at the same time allow a lifetime lease?
(Don't know why did they?)
Still - apparantly you are proud and they had no choice - none at all.
(They had two choices let it get devalued and lose money for a children's charity and the council or make a stand. FairPlay they chose the second option. Shit one for me as a Cov fan but sometimes you have to see the bigger picture and take a decision that is shit for you personally on the chin if overall it was the right thing to do)
Personally, i think they did it to prevent sisu/ccfc from buying it.
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It doesn't matter what I believe, it matters what the council believed/suspected/concerned about.You really think that CCFC/SISU were going to bid? Based on what? Because all the evidence suggests otherwise.
I suspect that the outcome wouldn't have been any difference myself.
See my response to Tony.So I assume you think SISU would have bid and tried to buy it?
Why do you think SISU did not table a bid when Anne Lucas said put your bid in or she was going to go a different direction with ACL?
If they wanted to prevent SISU from buying it they could have still done what Dave said an open bidding war.
SISU said they would not have done the deal Wasps did. So they would have got out bid anyway.
SISU said it has to be freehold or nothing and the loan has to be taken care of beforehand as well.
So the council just needed to put it up for Sale at the guide price that they ended up agreeing with Wasps.
So that doesn't really make sense. There must be another reason it needed to be secret?
It doesn't matter what I believe, it matters what the council believed/suspected/concerned about.
Funny really, in a time where councils are making cuts, where there is increased focus on increased transparency in LA's, where LA's and other public sector have to follow strict open and transparent procurement and commissioning processes all in order to get best value for money for the tax payers.
I've not seen one argument for why it was a good thing / best practice / the right thing to do not to run and open and transparent sale process. And one soundbite from Ann Lucas in the Coventry telegraph doesn't constitute an open sale.
I can only assume at the point of Lucas making that soundbite, wasps were already on thr scene and they didn't want an open and transparent bidding process as they feared sisu /ccfc might bid and wanted to mitigate that risk (whether we believe they would or not, regardless of Fishfaces subsequent soubdbites or not).
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You really think that CCFC/SISU were going to bid? Based on what? Because all the evidence suggests otherwise.
I suspect that the outcome wouldn't have been any difference myself.
That would be a question for the council to answer. Maybe they were concerned there was even the slightest possibility of a SISU bid, maybe something we don't know about went on behind closed doors (remember when they went into the meeting to vote and it was said to be close, by the time they came out it was unanimous and no record of what happened at the meeting exists), maybe they were concerned about public reaction putting ACL up for sale when we were in Northampton, maybe they did it to stick two fingers up to SISU. Maybe they didn't want to have to reveal publically that ACL wasn't performing as well as they kept claiming.why did the council not want to create a bidding war and have a big open transparent sale of ACL. If such a method was going to earn more money for them and the charity?
They bid for Higgs half, in fact they bid more than Wasps. Not beyond the realms of possibility that they'd have bid for the council half. Do you not think there would have been pressure on them to table a bid if an open and transparent sales process was taking place?Because all the evidence suggests otherwise.
That would be a question for the council to answer. Maybe they were concerned there was even the slightest possibility of a SISU bid, maybe something we don't know about went on behind closed doors (remember when they went into the meeting to vote and it was said to be close, by the time they came out it was unanimous and no record of what happened at the meeting exists), maybe they were concerned about public reaction putting ACL up for sale when we were in Northampton, maybe they did it to stick two fingers up to SISU. Maybe they didn't want to have to reveal publically that ACL wasn't performing as well as they kept claiming.
On what basis? If you apply for a JR the initial hearing is to see if there is a case to be heard. How on earth would SISU persuade anyone that an open and transparent sales process, done along similar lines to the disposal of assets regulations, required a JR?Is there any reason SUDY could not have taken JR2 or similar whilst the transparent bid was going through. If they saw it was a bid they were not able to do themselves.
On what basis? If you apply for a JR the initial hearing is to see if there is a case to be heard. How on earth would SISU persuade anyone that an open and transparent sales process, done along similar lines to the disposal of assets regulations, required a JR?
Despite Dongonzalos spin (and the usual likes from councillor Dart) the reality is he has failed to answer any questions I've raised.
Much of my questioning was pre sisu. The comment as to £60 million not just for the management company exposed his ignorance as a 250 lease puts all the value into the management company and none into the freehold.
(The comment you keep referring to was about the Ricoh itself bricks and mortar. As you well know and I will remind you again in a couple of months when you no doubt misquote me again for the 20th time. 48 million by and independent valuer for a 250 year lease hence JR2)
The answers in my view are simple. They were incompetent, controlling and never wanted the club to have it.
(Why say to the club come on and bid otherwise we are going a different direction. Why did the club not bid then?)
The ricoh as any business on such a short lease would have been was a worthless white elephant - unsalable - which suited them fine until the football club stopped funding their business game.
It wasn't worthless by any measure of the word. Once the football club starting breaking its legally binding contract it's value was heading south no question
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