Kevin Maton (1 Viewer)

[Nick]

Why ? Is freedom of speech a problem ? Or if it doesn't fit your narrative it must be a problem ? I'm a city fan and have been for over 50 years - I don't need to seek your or anyone else's approval

It isn't about narrative, it's the fact you have logged in after years to post factually incorrect nonsense.

 

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[Frankly_Mr_Shankly]

It amazes me how some people have a rose tinted view on what really happened. Sisu tried to get the stadium on the cheap by leaving - putting pressure on the council and a charity- Higgs Trust to sell on the cheap to a hedge fund who NO OF US TRUSTED . Any council not just Coventrys have a responsibility to get the best deal for the Coventry public - because its OUR MONEY which helped towards the development of the stadium. If Sisu got thier way - and got the stadium on the cheap - WE ...the local council tax payer would of lost out . The council got thier money back because a business was prepared to pay the full amount - NOT at the expense of the local tax payer .Sisu had the carpet pulled from under thier feet . And rightly so .
I don't support Wasps or like them here - no more than anyone else . But the council - who are not by far perfect, were right to get the best financial deal for its citizens and not just for skyblues fans.

Exactly my thoughts, this mess lies at the feet of the SISU vermin Seppala, Fisher etc , you can imagine how much they pissed the council off for them to sell to a London Rugby team. In fact they pissed everyone off. You reap what you sew.

 

[tisza]

I'm simply seeing it that at the time the council needed to get the best deal for the citizens of Coventry. I'm not here to defend the council but as a tax payer I would be miffed if my money was spent to give to a cayman island based hedge fund . Like I have already said I'm not no lover of wasps or whoever owns them no more than anyone else . CCFC finances were fucked a longtime before Sisu and the council were involved due to miss management . Sisu came in at the time to make a quick profit ....it didn't work out . What would the fans have said if the council sold the stadium and the freehold and the lease hold to Sisu and they knocked it down to develop to make more money....just what hedge funds are about - increasing thier return on thier investment. Wouldn't the fans still be mad at the council for selling ? Of course they would. And then the posts would be about the council selling to a hedge fund !

Wasps finances were a mess when they moved here. Bankrolled by an individual who then raised the bond to pay himself back and cover the costs of the move. A move that seems likely to effect a lot of small investors who put their trust in him.
There's no altruism behind Richardson and his actions - it's a money making operation much the same as SISU except SISU are representing a range of investors rather than just an individual like Richardson is.
Loan repayment aside (which any new owner could have addressed) where has the taxpayer benefitted from Wasps management of the Arena? It's still a struggling business (even without COVID). The core business is a rugby club in an industry that is constantly streamlining its wage bill because it can't make any money. Is it just one Premiership rugby club making money? - nearly all reliant on wealthy benefactors

 

[HuckerbyDublinWhelan]

I'm simply seeing it that at the time the council needed to get the best deal for the citizens of Coventry. I'm not here to defend the council but as a tax payer I would be miffed if my money was spent to give to a cayman island based hedge fund . Like I have already said I'm not no lover of wasps or whoever owns them no more than anyone else . CCFC finances were fucked a longtime before Sisu and the council were involved due to miss management . Sisu came in at the time to make a quick profit ....it didn't work out . What would the fans have said if the council sold the stadium and the freehold and the lease hold to Sisu and they knocked it down to develop to make more money....just what hedge funds are about - increasing thier return on thier investment. Wouldn't the fans still be mad at the council for selling ? Of course they would. And then the posts would be about the council selling to a hedge fund !

They didn’t get the best deal - they sold a 50 year lease for pennies then extended it to 250 years for pennies.

don’t you think the council could have got more money for the tax payer by extending to 250 then selling it?

thats Not hindsight - that’s basic economics

 

[Hobo]

It amazes me how some people have a rose tinted view on what really happened. Sisu tried to get the stadium on the cheap by leaving - putting pressure on the council and a charity- Higgs Trust to sell on the cheap to a hedge fund who NO OF US TRUSTED . Any council not just Coventrys have a responsibility to get the best deal for the Coventry public - because its OUR MONEY which helped towards the development of the stadium. If Sisu got thier way - and got the stadium on the cheap - WE ...the local council tax payer would of lost out . The council got thier money back because a business was prepared to pay the full amount - NOT at the expense of the local tax payer .Sisu had the carpet pulled from under thier feet . And rightly so .
I don't support Wasps or like them here - no more than anyone else . But the council - who are not by far perfect, were right to get the best financial deal for its citizens and not just for skyblues fans.

What do you think of the Wasps bond scheme?

You would be all over it if SISU had done it no doubt?

I bet you are one of the ones that perpetuate the myth if SISU had got the Ricoh they would liquidate the football club and build a housing estate on it?

I was born in Coventry and live in Coventry. But I don't pay my local taxes to prop up a rugby team that originates from London at the detrement of a Coventry Rugby Club and a Coventry Football Club.

 

[HuckerbyDublinWhelan]

Exactly my thoughts, this mess lies at the feet of the SISU vermin Seppala, Fisher etc , you can imagine how much they pissed the council off for them to sell to a London Rugby team. In fact they pissed everyone off. You reap what you sew.

So was the nearly 2m in rent and costs fair on the football club?

At least they didn’t sell the stadium to a hedge fund who mortgaged it to the hilt though….

 

[Nick]

So was the nearly 2m in rent and costs fair on the football club?

At least they didn’t sell the stadium to a hedge fund who mortgaged it to the hilt though….

To pay themselves £10m from it.

 

[fatso]

Wasps finances were a mess when they moved here. Bankrolled by an individual who then raised the bond to pay himself back and cover the costs of the move. A move that seems likely to effect a lot of small investors who put their trust in him.
There's no altruism behind Richardson and his actions - it's a money making operation much the same as SISU except SISU are representing a range of investors rather than just an individual like Richardson is.
Loan repayment aside (which any new owner could have addressed) where has the taxpayer benefitted from Wasps management of the Arena? It's still a struggling business (even without COVID). The core business is a rugby club in an industry that is constantly streamlining its wage bill because it can't make any money. Is it just one Premiership rugby club making money? - nearly all reliant on wealthy benefactors

The taxpayer has clearly and very obviously benefited by not having to foot the running costs along with the maintainance, repair and upkeep costs of a potentially empty stadium for the last 7 years.

 

[Deleted member 2477]

It amazes me how some people have a rose tinted view on what really happened. Sisu tried to get the stadium on the cheap by leaving - putting pressure on the council and a charity- Higgs Trust to sell on the cheap to a hedge fund who NO OF US TRUSTED . Any council not just Coventrys have a responsibility to get the best deal for the Coventry public - because its OUR MONEY which helped towards the development of the stadium. If Sisu got thier way - and got the stadium on the cheap - WE ...the local council tax payer would of lost out . The council got thier money back because a business was prepared to pay the full amount - NOT at the expense of the local tax payer .Sisu had the carpet pulled from under thier feet . And rightly so .
I don't support Wasps or like them here - no more than anyone else . But the council - who are not by far perfect, were right to get the best financial deal for its citizens and not just for skyblues fans.

Another Wasp/council new member. Its embarrassing that they think we dont notice who they are

 

[Liquid Gold]

Do you think councillors have such poor spelling and grammar or do you think they think so little of us they make these awful mistakes on purpose to try and fit in?

 

[NorthernWisdom]

The annoying thing is the people of Coventry keep voting them in so they keep getting away with it

Problem is, with a unanimous vote to sell to Wasps, you need to vote for Loonies or someone to change it.

Although tbf the Loonies might be a more effective local authority...

 

[Grendel]

Problem is, with a unanimous vote to sell to Wasps, you need to vote for Loonies or someone to change it.

Although tbf the Loonies might be a more effective local authority...

I think the Tory side will oppose any further assistance

 

[Colin Steins Smile]

In every business deal parties undertake a due diligence exercise, which in my opinion can't have been undertaken correctly.
Given that the only Rugby Club in the Premiership that appears to have a sustainable business model is Exeter. The sale of the arena to Wasps was clearly a "high risk" decision by CCC and supported by both Labour and the Conservatives. So both political parties have been complicit in this.
Secondly, I've seen the twitter from Cllr Mason in that he suggests that football has so much money it can pay for a new pitch.
I would point out that CCFC is a tenant and the landlord is responsible for repairs to their property. Having said that is he now suggesting that the population of Coventry that privately rent are now responsible for the repairs of their landlords properties? Doesn't seem to be a policy consistent with being a Labour party member.

 

[NorthernWisdom]

I think the Tory side will oppose any further assistance

They do seem more disposed to ploughing their own field nowadays, so maybe. Fact remains they all, whatever colour rosette they were wearing, backed selling to Wasps.

I'd still love to know what was said in that meeting to make it so - am guessing the risks to budgets of continuing to be sued were the main selling point in the deal but... who knows!

 

[WestEndAgro]

Guy's a fuckin Loony leftie and a obnoxious tool, why oh why do these idiots get elected.

 

[tisza]

The taxpayer has clearly and very obviously benefited by not having to foot the running costs along with the maintainance, repair and upkeep costs of a potentially empty stadium for the last 7 years.

That's based on a huge assumption no-one else inc CCFC would have bought/taken on the stadium

 

[NorthernWisdom]

That's based on a huge assumption no-one else inc CCFC would have bought/taken on the stadium

On the ultimate level, there's land there to flatten the ground for housing or warehouses if all they wanted was the ground moved on and didn't care about the consequences.

(tbf I thought that was the biggest risk with our initial strategy rather than a random Rugby club rocking up!)

 

[Sky Blue Pete]

How does he think that’s a useful contribution from a local government official. Silence would be better and an actual understanding of the basic situation would be even better
Just unacceptable really

 

[joemercersaces]

Anne Lucas, Kevin Maton, Andy Goode, David Conn, Shugs off the Wasps Forum

Hopefully the biggest egg imaginable will be splattered all over their faces

Am I missing any more people who have subjected us to this nonsense

Bobby Bridge

 

[Nick]

How does he think that’s a useful contribution from a local government official. Silence would be better and an actual understanding of the basic situation would be even better
Just unacceptable really

These people still seem to think that everybody is behind them because "SISU". They are completely out of touch.

 

[Sky Blue Pete]

These people still seem to think that everybody is behind them because "SISU". They are completely out of touch.

Hope someone tweeted about bin strikes and paying a company for scab labour. Gosh

 

[fatso]

That's based on a huge assumption no-one else inc CCFC would have bought/taken on the stadium

Wel tbh, I didn't see a long list of potential buyers!!!
In fact there was only 1, which was 1 more than SISU bargained for.

People say Wasps got the stadium on the cheap, but when there's only 1 buyer, and a seller has to sell, their offer becomes the dayfacto valuation.

Ccfc had been ruled out as a potential bidder due to defaulting on their tenancy agreement, while at the same time moving to six fields and publicly declaring their intention to build a new stadium.
(Not to mention deliberately and maliciously seeking to distress ACL)

I'm sure we don't need to drag this shit up any longer, as it's hardly helpful.

We are where we are, it is what it is etc etc.

Fingers crossed the mediation process will make some headway.

Let's get back to supporting the city, while SISU continue to try and get the stadium for nothing, and Wasps continue to shoot themselves in the foot.

 

[Alasyeyorath]

Well yes, you are. That is exactly why you thought to login after years.

Logging in after years ? , checking my previous posts ? For fuck sake get a grip of yourself .

 

[Nick]

Logging in after years ? , checking my previous posts ? For fuck sake get a grip of yourself .

Yeah this is the standard response, it takes 2 seconds.

Next one?

 

[MalcSB]

It amazes me how some people have a rose tinted view on what really happened. Sisu tried to get the stadium on the cheap by leaving - putting pressure on the council and a charity- Higgs Trust to sell on the cheap to a hedge fund who NO OF US TRUSTED . Any council not just Coventrys have a responsibility to get the best deal for the Coventry public - because its OUR MONEY which helped towards the development of the stadium. If Sisu got thier way - and got the stadium on the cheap - WE ...the local council tax payer would of lost out . The council got thier money back because a business was prepared to pay the full amount - NOT at the expense of the local tax payer .Sisu had the carpet pulled from under thier feet . And rightly so .
I don't support Wasps or like them here - no more than anyone else . But the council - who are not by far perfect, were right to get the best financial deal for its citizens and not just for skyblues fans.

Was the arena competitively marketed with a 250 year lease? Like hell it was. So nobody knows what the best deal for taxpayers might have been.

 

[Cobi Jones's Dreads]

Thought we were signing a player then, turns out it’s just our clueless wanker of a Lord Mayor!

 

[Ian1779]

It amazes me how some people have a rose tinted view on what really happened. Sisu tried to get the stadium on the cheap by leaving - putting pressure on the council and a charity- Higgs Trust to sell on the cheap to a hedge fund who NO OF US TRUSTED . Any council not just Coventrys have a responsibility to get the best deal for the Coventry public - because its OUR MONEY which helped towards the development of the stadium. If Sisu got thier way - and got the stadium on the cheap - WE ...the local council tax payer would of lost out . The council got thier money back because a business was prepared to pay the full amount - NOT at the expense of the local tax payer .Sisu had the carpet pulled from under thier feet . And rightly so .
I don't support Wasps or like them here - no more than anyone else . But the council - who are not by far perfect, were right to get the best financial deal for its citizens and not just for skyblues fans.

You’ve already blocked me on Twitter Kev - I don’t need to read your shit on some burner account on here.

Bellend.

 

[fatso]

Was the arena competitively marketed with a 250 year lease? Like hell it was. So nobody knows what the best deal for taxpayers might have been.

Competitively marketed to attract who exactly?

It was public knowledge that the arena was empty and for sale, anyone could have expressed an interest or made an offer.

It was costing ACL thousands of pounds a week to maintain, with no income streams.

Exactly how long should they have sat on it for while waiting for some mythical fairy godmother to come crawling out of the woodwork?

 

[oldfiver]

Hope someone tweeted about bin strikes and paying a company for scab labour. Gosh

Dont forget importing Birminghams homeless to make way for CWG elite

 

[Grendel]

Competitively marketed to attract who exactly?

It was public knowledge that the arena was empty and for sale, anyone could have expressed an interest or made an offer.

It was costing ACL thousands of pounds a week to maintain, with no income streams.

Exactly how long should they have sat on it for while waiting for some mythical fairy godmother to come crawling out of the woodwork?

The 250 year lease added £50 million to
It’s value

 

[fatso]

The 250 year lease added £50 million to
It’s value

Nonsense, there was 1 bid on the table, and that became the valuation.

If you want more money, you need more than 1 bidder. Period!!!

 

[HuckerbyDublinWhelan]

SISU said they’d have been interested if they knew a 250 year lease was on the table.

whether you believe them or not the fact was Wasps bought a 50 year lease and instantly extended it. The extension was discussed pre-sale

 

[Grendel]

Nonsense, there was 1 bid on the table, and that became the valuation.

If you want more money, you need more than 1 bidder. Period!!!

The bid was a closed bid on 38 years. The 250 year was given on completion and the independent valuation I think at the time then was £62 million

 

[fatso]

The bid was a closed bid on 38 years. The 250 year was given on completion and the independent valuation I think at the time then was £62 million

An independent valuation means nothing.

The Stadium was worth exactly what the highest bidder offered.
When there's only one bidder and no reserve, they walk away with the prize.

That is the value.

 

[NorthernWisdom]

An independent valuation means nothing.

The Stadium was worth exactly what the highest bidder offered.
When there's only one bidder and no reserve, they walk away with the prize.

That is the value.

I feel like we've stepped back in time.

But if somebody offers you a deal and you want to maximise value, you sound out other parties, or at least let them know they have to up their game.