World class stadium worth £1 million? (1 Viewer)

[italiahorse]

This thread is confusing.

Are you saying that Wasps bought the stadium for £1M ?

 

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[Samo]

This thread is confusing.

Are you saying that Wasps bought the stadium for £1M ?

No he isn't... Obviously

 

[Broken Hearted Sky Blue]

The deal has been done - the council have sold for £1 million chap - that's it.

Not yet it hasn't as various counil members were saying the club could still make an offer,they won't of course!

 

[Frisky blue]

Wow they never incurred any costs then? Wow just wow - still they did financially take the club to the cleansers for years and bust it so you may have a point.

Are you really saying that CCC/ACL "bust" our club? This just gets better and better, you guys must be having some kind of mass hysteria episode. In Joy and Timmy we trust, hallelujah, our unblemished saviours.

 

[Frisky blue]

No he isn't... Obviously

He just said it didn't he?

 

[sotvtoday]

Do you think there's a deal to be done between CCFC and Wasps? Or CCFC buy Higgs shares?

Do you think a deal has already been done between SISU and Wasps?

 

[Rusty Trombone]

Do you think a deal has already been done between SISU and Wasps?

Welcome. I thought this was the case right up until Joy wrote a letter asking the Council to delay the vote.

 

[lordsummerisle]

If ACL were doing well that wouldn't itself be a reason not to sell, but they would sell at a premium, what it looks like they have done is sold it at a give away price.

But everybody has been saying that ACL have been doing well, Mrs PWKH even said that turnover had increased from the latest set of accounts, which included the Olympics and Coventry City still being there(which would have made it more than £14million).

I think Anne Lucas also said how well ACL was doing in the absence of the club.

If that was the case, surely local taxpayers and a local childrens charity are selling off a Community Asset to nameless, possibly hedge-fund investors who are franchising a London Rugby club to Coventry at the likely disadvantage of local sports clubs for very little return, in fact at a loss for the Local Childrens Charity at least.

Of course Mrs PWKH and Anne Lucas could have been lying about how well that ACL was doing.

So it's either CCC and Local Childrens Charity selling off a Community Asset on the cheap to no advantage to anybody that I can see(Wasps especially), or respected local Charity Trustees and Council Leaders lying about how succesful ACL was and needing to sell because it's on the verge of failure.

Neither scenario looks particularly good in my eyes.

 

[Rusty Trombone]

But everybody has been saying that ACL have been doing well, Mrs PWKH even said that turnover had increased from the latest set of accounts, which included the Olympics and Coventry City still being there(which would have made it more than £14million).

I think Anne Lucas also said how well ACL was doing in the absence of the club.

If that was the case, surely local taxpayers and a local childrens charity are selling off a Community Asset to nameless, possibly hedge-fund investors who are franchising a London Rugby club to Coventry at the likely disadvantage of local sports clubs for very little return, in fact at a loss for the Local Childrens Charity at least.

Of course Mrs PWKH and Anne Lucas could have been lying about how well that ACL was doing.

So it's either CCC and Local Childrens Charity selling off a Community Asset on the cheap to no advantage to anybody that I can see(Wasps especially), or respected local Charity Trustees and Council Leaders lying about how succesful ACL was and needing to sell because it's on the verge of failure.

Neither scenario looks particularly good in my eyes.

I don't think we are disagreeing on the financial points.

The bit I don't get is the reference to community asset, as I see it the freehold is the asset not the management company.

 

[lordsummerisle]

I don't think we are disagreeing on the financial points.

The bit I don't get is the reference to community asset, as I see it the freehold is the asset not the management company.

The freehold not worth much to the Community if it can be leased for 250 years for £1million though really.

 

[Samo]

He just said it didn't he?

No he didn't... Do you think you may be autistic? Nothing at all wrong with that of course but might explain your problems with ambiguity?

 

[letsallsingtogether]

No such things as community assets any more, this government will not stop until everything in this country is sold off, only London are allowed to have any the rest of us will just have to keep subsidising them.

The freehold not worth much to the Community if it can be leased for 250 years for £1million though really.

 

[Rusty Trombone]

The freehold not worth much to the Community if it can be leased for 250 years for £1million though really.

I take more to mean that it is protected for the community, as a leasehold there will be restrictions over what they can do to the stadium and it's land.

 

[lordsummerisle]

I take more to mean that it is protected for the community, as a leasehold there will be restrictions over what they can do to the stadium and it's land.

In what way to help the community though?

 

[Rusty Trombone]

In what way to help the community though?

I wouldn't say to 'help' the community. Not selling the freehold helps ensure it stays there, so it can be used as intended, that sort of thing.

 

[Grendel]

This thread is confusing.

Are you saying that Wasps bought the stadium for £1M ?

Midlands Today stated its;

Repayment of loan
Higgs paid £5.5 million
council gets....£1 million for the 250 year lease -- £4,000 a year!!!!!

 

[Deleted member 5849]

I wouldn't say to 'help' the community. Not selling the freehold helps ensure it stays there, so it can be used as intended, that sort of thing.

If only!

 

[Rusty Trombone]

If only!

Indeed, but we know it's only the clubs owners that want us to move out.

 

[lordsummerisle]

Not selling the freehold helps ensure it stays there, so it can be used as intended, that sort of thing.

Aye, suppose it stops them fucking off with the Arena down to London to be used for Gladitorial Games or something.

Franchising stadiums, there's a novel idea!

 

[Hobo]

So if we believe the media all the council have back for the good old taxpayer is around £1 million - £3 per Coventry inhabitant.

What conclusion can one draw from this - why the need to sell?

Did sisu win the battle in the end and distress ACL to such an extent they could no longer meet loan and creditor repayments? If not aren't the taxpayer being ripped off and having the community asset effectively given to a London consortium ?

Will the public ever be told the truth about what went on in private in the council chambers?

I wonder.....,

So you are saying SISU have missed a bargain?
Sounds like they are the ones distressed then.

 

[Grendel]

So you are saying SISU have missed a bargain?
Sounds like they are the ones distressed then.

As mentioned another thread they would have rejected our bid anyway.

 

[Hobo]

As mentioned another thread they would have rejected our bid anyway.

That is pure speculation and your opinion only Grendel. If SISU had bid and it had been rejected we could have protested more against CCC. With SISU's persistence in "we are going to build our own" and no bid, it seems it is just the fans who are outraged.

 

[skybluetony176]

As mentioned another thread they would have rejected our bid anyway.

Like I replied to you in that thread. You don't ask you don't get. I would have thought someone doing multi million dollar deals on the phone on a daily basis would understand that.

 

[skybluetony176]

That is pure speculation and your opinion only Grendel. If SISU had bid and it had been rejected we could have protested more against CCC. With SISU's persistence in "we are going to build our own" and no bid, it seems it is just the fans who are outraged.

Exactly this.

 

[Hobo]

Hope you have signed the Wasps petition Grendel?

 

[letsallsingtogether]

Any way Tim said could not make a bid because they didn't know what Wasps had bid for. Sounds like they got cold feet in case they ended paying more.
As mentioned before the deal was open to anyone only takers were Wasps so the only deal they could look at.

Now if sisu had made a similar bid and it was rejected then we could have said it was personal but we can't only have Mr Fishers word for that?

As mentioned another thread they would have rejected our bid anyway.

 

[letsallsingtogether]

Yes even Joy was happy with it!!
Fuck me that's a first???:thinking about:
Ah see what a clever women, wait till they are struggling again then take them over.......

That is pure speculation and your opinion only Grendel. If SISU had bid and it had been rejected we could have protested more against CCC. With SISU's persistence in "we are going to build our own" and no bid, it seems it is just the fans who are outraged.

 

[Hobo]

Grendel has gone very quiet? He must be busy at work. Probably sucking corporate dick at some press conference to do with Land Rover, so unable to denounce CCC selling to Wasps.

 

[chiefdave]

Grendel has gone very quiet? He must be busy at work. Probably sucking corporate dick at some at some press conference to do with Land Rover, so unable to denounce CCC selling to Wasps.

I would imagine he's resigning in protest!