Should Rasputin be banned? (1 Viewer)
- Thread starter fernandopartridge
- Start date
Sky_Blue_Dreamer
Well-Known Member
Taking a bit of artistic licence with those figures aren't we?
Wasps bought for £2.77m + taking on £14.4m loan (which will accrue interest) = £17.17m +
CCFC £1.2m pa in rent Dec 2007 - Mar 2012 (4.25 years). £100k pa Sep 2014 - present (4 years) = £5.5m
These figures are just reported rent and purchase costs. They do not take into account matchday or other costs CCFC pay, nor maintenance and upkeep costs Wasps have to pay.
Wasps bought for £2.77m + taking on £14.4m loan (which will accrue interest) = £17.17m +
CCFC £1.2m pa in rent Dec 2007 - Mar 2012 (4.25 years). £100k pa Sep 2014 - present (4 years) = £5.5m
These figures are just reported rent and purchase costs. They do not take into account matchday or other costs CCFC pay, nor maintenance and upkeep costs Wasps have to pay.
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Nick
Administrator
Think he was just on about purchase price.
Grendel
Well-Known Member
No the loan has no relevance as it’s not part of the shareholder value of the company - the purchase was made not on the basis of buying the loan at all. The loan was in fact purchased separately
Also please remember the council purchased the loan from another funding source advising they did it to deliver a profit to the taxpayer on the interest charged to acl.
You are implying the council lied
Sky_Blue_Dreamer
Well-Known Member
Again, very selective. When agreeing the purchase price for ACL it was with the knowledge that the debt would have to be taken on as part of the company. It's standard legal and financial practice to do so.
Also the value of any debts IS included as shareholder value as it's a significant part of net value of an asset. If you buy a house for 200k with a 25% deposit then sell it immediately before you start paying the mortgage is that house now only worth 50k to you because the mortgage value doesn't count?
The council did use outside funding sources because they aren't allowed to use central funding for it - that would be state aid and political suicide when cutting services. They could achieve better interest rates, which they could then add a bit on to make the profit and thus keep non-CCFC fans/watchdogs etc happy but still provide a better rate than elsewhere. Everyone gets something out of the agreement.
Also the value of any debts IS included as shareholder value as it's a significant part of net value of an asset. If you buy a house for 200k with a 25% deposit then sell it immediately before you start paying the mortgage is that house now only worth 50k to you because the mortgage value doesn't count?
The council did use outside funding sources because they aren't allowed to use central funding for it - that would be state aid and political suicide when cutting services. They could achieve better interest rates, which they could then add a bit on to make the profit and thus keep non-CCFC fans/watchdogs etc happy but still provide a better rate than elsewhere. Everyone gets something out of the agreement.
Sky_Blue_Dreamer
Well-Known Member
I guessed they were, and in respect of cash outlay is correct and why I said they were taking artistic licence rather than lying. Doesn't really tell the whole story though.
Skybluefaz
Well-Known Member
This escalated quickly
dazed&confused
Well-Known Member
I'll try to break this to you gently: from my experience of this very same topic, you're wasting your time.
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usskyblue
Well-Known Member
Grendel
Well-Known Member
So when ccfc were offered half share at £6 million taking on the debt which you believe is part of the shareholder value on a 45 year lease perhaps you’d like to explain how that is reasonable. Especially as there were no voting rights and the club still would pay £1.3m a year rent.
I’m all ears
Sky_Blue_Dreamer
Well-Known Member
It isn't reasonable. It also doesn't make any sense. How can you be offered a 50% shareholding and not get voting rights? Voting rights come with the shares so if what you say is true they weren't actually offered a half share at all (unless you literally mean 'half a share').
I really don't recall such an 'offer' ever being made. I'd appreciate more info on it
I really don't recall such an 'offer' ever being made. I'd appreciate more info on it
Otis
Well-Known Member
Yeah, like the rent.
oucho
Well-Known Member
There was no justificstion for the rent boycott or trying to brazenly bankrupt ACL.
I'm a bit disappointed tbh in that you asked me why I feel so passionately about this, I gave you an honest and personal answer, and you have tried to discredit me and my reasoning rather than saying 'fair enough, that's your view, good luck to you' as the spirit of the exchange of ideas, the whole purpose of a forum, demands. It's almost as if you dislike any criticism of the club abd its owners. Remember, we're Cov fans , we support the team not the club who have let us down so much. Don't defend them, we should ridicule and criticise them at every opportunity. That's what being a Cov fan means FFS.
dazed&confused
Well-Known Member
You bit!
Sky_Blue_Dreamer
Well-Known Member
I did. Sorry.
But they brought up something that I really don't remember ever happening and I was following the saga pretty closely at the time so either I missed something so major I need to know more or it's something that's unsubstantiated.
But they brought up something that I really don't remember ever happening and I was following the saga pretty closely at the time so either I missed something so major I need to know more or it's something that's unsubstantiated.
Nick
Administrator
Where have I defended "them" in this thread?
I'm pointing out that for somebody so strong with their morals you are quick to then do things that would be against them. It's very strange.
I know what being a football fan means, not sure I need you to explain or try and preach anything.
Which other court cases have you been following?
Nick
Administrator
Weren't a fair few following it closely?
Sky Blue Harry H
Well-Known Member
Can somebody txt me when this gets back on topic?
Grendel
Well-Known Member
Christ. ACl decision making was with the board of directors and the side that had power to excercise veto. Shares don’t automatically have voting rights at all.
I’m talking about the price to purchase the Higgs share through a formula calculation.
Nick
Administrator
See you in the match thread on Sunday, have a good weekend!
Bernie Rhodes Nose
Well-Known Member
Guilty as charged!!! Where's my black cap?
oucho
Well-Known Member
I'm not preaching at all....you asked why I cared so much and I told you!!!!!
Nick
Administrator
No, you were trying to preach about being a "football fan". You really don't need to, I didn't toss a coin to see who I would support.
Where have I defended "them", or is that just an awful attempt at trying to give it the "SISU Lover" type approach?
skyblueinBaku
Well-Known Member
I'm just catching up with this thread, and was going to post the same thing as you.
SlowerThanPlatt
Well-Known Member
The main reason I think Rasputin is Dongo in drag is because of how quick he was to distance himself from Dongo and his views by saying something along the lines of “how can I be Dongo when he was one of the reasons I’ve never signed up before now”
dazed&confused
Well-Known Member
She's a witch.
I have met 5 regular (ish) SBT posters in person - 4 of them are what I would consider to be normal Joe Shmoes like myself. The other was an arrogant cock (it isn't Oucho by the way)
Note: I don't think I am an arrogant cock (does that sound arrogant?)
covmark
Well-Known Member
Name the 5 and we can see if we can guess who the arrogant cock was.
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Grendel
Well-Known Member
He hasn’t met me
covmark
Well-Known Member
Captain Dart
Well-Known Member
I'm thinking of annoying Nick by posting a link to the CT article about the Ricoh deal running out at the end of the season with a poll to see where everybody thinks the club will be playing next season. Should I or shouldn't I? I'll probably get a 'should' I be banned cause I'm not a real fan' or 'Let the ****** continue to post' poll all to myself.
* I have not knowingly met covmark.
* I have not knowingly met covmark.
No I haven't - and I don't particularly want to
That's tempting, but I would hate for you to pick the wrong one (I am a bit of a scardy cat)
covmark
Well-Known Member
I think I can recall someone on here, may have been you, said they bumped into some fans and when they introduced themselves to said fans, they were called a Skybluestalk nutjob, or words to that effect.
*Although this may have been a alcohol fuelled dream.
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