Wasps bid for Ricoh Arena valued at £30million

[Broken Hearted Sky Blue]

Let the egg chasers have it and CCC can allow and find room for a proper football ground to be built nearer the city centre not some soulless arena which has been a disaster from day 1. Couldn't even get it open on time for the first game in 2005. Highfield Rd 3 as number 2 built in the Coventry area would have always been a no goer.

Highfield Road 2 or 3 bolux,souless bolux fucking idiot

 

[Rusty Trombone]

Only a couple of million or something for their share in FIL.

And just to pre-empt your next comment,, you could say that Higgs got a share in ACL at a knockdown rate - especially if 90% is going at £30m...

And SISU could have bought it back at a knockdown rate.

 

[Deleted member 5849]

If this deal means that Wasps are franchised away from their fanbase, then it's wrong.

I don't care if it's better for CCC, ACL, CCFC and Cov RFC, if it tears Wasps away from their supporters then it's morally wrong, and we should all stand against it.

SISU have dropped us in the sh*t with their ridiculous mismanagement, but that doesn't absolve either the Council or The Higgs Trust for their actions if this goes ahead. Any councillor with the hint of a conscience should vote against this.

Uber-like

 

[skybluefred]

At £30m it kind of blows a hole in the JR argument that the loan exceeded worth :thinking about:

Got it in a nutshell.

 

[James Smith]

Very important point to note:

The council is buying the Higgs' share so as to prevent CCFC from being able to match any offer for it. Hopefully nobody will be too upset by the club not being able to get in on this deal and will be right behind any new stadium plans..? ;-)

We had our chance to buy the Higgs share though and blew that. The Higgs can sell to whoever they want now can't they and if it isn't us then that's our tough luck. It would be a bit pardon my language shit if we didn't get the shares and the council were able to do the Wasps deal as a result. Not 100% certain but do the charity have to sell the council or could they say no in the hopes that we'll come in with a higher bid later on. I don't agree with franchising sports teams and should hate to see Wasps fans being treated like we were. We should have bought the Higgs out and then a situation this would have been far less likely.

 

[stupot07]

We had our chance to buy the Higgs share though and blew that. The Higgs can sell to whoever they want now can't they and if it isn't us then that's our tough luck. We should have bought them out and then a situation this would have been far less likely.

And what about wasps being moved 75 miles? You backing it?


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[MalcSB]

How could this jeopardise our tenancy long term? It can't really, we screwed up our secure lease so can't moan anyway.

On the basis of what's good for the the public purse, CCC councillors HAVE to say Yes, otherwise it is dereliction of their statutory duty. Unless SISU bid up and ruin themselves, they are out of the running for the Ricoh (providing Wasps get the funding). This is best news ever.

I assume this refers to our unaffordable lease having been led up the garden path by the illustrious (and now demonstrably untrustworthy) council

 

[Rob S]

Nice one. Will you be reporting back on here? Assuming that there is something to report.

Putting a statement / release together now for the morning and will do a thread here to follow up on the inevitable questions ;-)

 

[Grendel]

We had our chance to buy the Higgs share though and blew that. The Higgs can sell to whoever they want now can't they and if it isn't us then that's our tough luck. We should have bought them out and then a situation this would have been far less likely.

No Higgs can't hence the current shenanigans being carried out by your friends at the council. A 5th member of the forum joins the driftwood.

 

[Grendel]

So basically we've screwed ourselves over if the long term plan really was the Ricoh. If the shareholders in ACL can get £30m (or nearest offer) then that's great news for them but not so good for us or the rugby club. If we really wanted to stay at the Ricoh we should never have been talking about our new stadium and saying that we've moved on. I'm not surprised that councillors are up in arms, this could bugger our chances of staying at the Ricoh long term especially given the massive amount of progress on the new stadium.

How has Joy let it get to this situation? I thought she was supposed to be clever and a brilliant negotiator/deal maker. I can't imagine that there are many supporters who are happy that Wasps might be in a position to buy the lease on what should be our home.

Just read that back and have a serious word with yourself

 

[Rusty Trombone]

I assume this refers to our unaffordable lease having been led up the garden path by the illustrious (and now demonstrably untrustworthy) council

Do you think SISU should have agreed to have come back for more than 4 years?

 

[Sutty]

Some people seem to be backing this on the basis it would be bad news for Sisu. That's fair enough in a way, though I do think it would be cutting off our nose to spite our face.

BUT

There's a sports club being moved from its community here. I know a few Wasps fans and they're absolutely gutted at the possibility of this happening. Of all the sets of fans in the country, we should be the most sympathetic to a group of fans whose club is being moved away, particularly after we demanded sympathy from everyone else last season.

Supporting putting a group of fans through that? To spite a group of bankers?

 

[Sky Blue Dal]

We had our chance to buy the Higgs share though and blew that. The Higgs can sell to whoever they want now can't they and if it isn't us then that's our tough luck. We should have bought them out and then a situation this would have been far less likely.

My senitiments exactly.

If SISU had behaved professionally and bought the shares when they had the chance, we would not be in this hell hole of a mess.

 

[italiahorse]

And what about wasps being moved 75 miles? You backing it?


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Ask the businesses around the area after loosing money last year and they don't care.
Ask the majority of Coventry ratepayers and they don't care.

This gives us as CCFC a big problem

 

[James Smith]

And what about wasps being moved 75 miles? You backing it?


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No see the full post, I had a fat finger moment and managed to hit post by mistake. I don't agree with franchising of sports teams.

 

[MalcSB]

Do you think SISU should have agreed to have come back for more than 4 years?

How do we know that wasn't all that was offered. And 4 years would have been time to build up the trust councillor Thompson asked for. And yet less than 4 weeks wasps buzz in?

 

[MalcSB]

How do we know that wasn't all that was offered. And 4 years would have been time to build up the trust councillor Thompson asked for. And yet less than 4 weeks wasps buzz in?

Ps - what is the definition of duplicitous?

 

[Silence_Is_The_Enemy]

really strange that its a wasps fronted consortium my instincts make me think Hoffman is involved and this is his next play in the hope of getting the club. alot of that is due to richard keys going to the 1st game back claiming he was there on "big things" which could just as equally be his ego cause the guy is a tool but still if the shoe fits why not start a conspiracy

 

[Rusty Trombone]

How do we know that wasn't all that was offered. And 4 years would have been time to build up the trust councillor Thompson asked for. And yet less than 4 weeks wasps buzz in?

I don't know what was offered, but I guess that SISU were happy with it, and it fits in with the yarn being spun about looking elsewhere. If they wanted longer they'd have mentioned it wouldn't they? it would appear that Wasps have been around a lot longer than 4 weeks.

 

[James Smith]

Just read that back and have a serious word with yourself

Why? I think it's appalling that what should have been our home could potentially be in the hands of another club from miles away - I thought you did too. It's bad for two local teams (including one I've supported for just shy of forty years), and the Wasps fans. I don't understand why Joy & Tim etc. have allowed it to get to this stage. Even if the appeal application is successful and they have a second go in court, the council could possibly have the money back by then.

 

[Rusty Trombone]

Ps - what is the definition of duplicitous?

I'll confirm that with Tim, Mark and Joy and then come back to you in, say, 3 weeks.

 

[Rusty Trombone]

No see the full post, I had a fat finger moment and managed to hit post by mistake. I don't agree with franchising of sports teams.

Isn't it normally the bit at the end that is missing due to fat fingers hitting post, not the middle bit. Looks like you realised your mistake.

 

[stupot07]

Ask the businesses around the area after loosing money last year and they don't care.
Ask the majority of Coventry ratepayers and they don't care.

This gives us as CCFC a big problem

Do you mean these businesses?

http://www.coventrytelegraph.net/news/coventry-news/sky-blues-return-coventry-vital-7547227

Have you asked the majority of Coventry rate payers? If not how do you know they don't care?


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[James Smith]

No Higgs can't hence the current shenanigans being carried out by your friends at the council. A 5th member of the forum joins the driftwood.

I assume you mean the council could exercise their veto over the sale of the Higgs shares - if not please explain furthe. But the Higgs could do the same to the council and use their veto couldn't they, so the council couldn't sell to just anyone by that logic.

 

[stupot07]

No see the full post, I had a fat finger moment and managed to hit post by mistake. I don't agree with franchising of sports teams.

Well then, forget what sisu have and haven't done. This deal is just plane wrong, and this is hypocrisy.


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[Grendel]

I assume you mean the council could exercise their veto over the sale of the Higgs shares - if not please explain furthe. But the Higgs could do the same to the council and use their veto couldn't they, so the council couldn't sell to just anyone by that logic.

The council are buying Higgs share for an undisclosed amount as the consortium cannot as that would exercise the clause to allow the club to make a bid.

 

[Rusty Trombone]

The council are buying Higgs share for an undisclosed amount as the consortium cannot as that would exercise the clause to allow the club to make a bid.

What's not clear from Gilbert's article is why the clause isn't triggered if the Council buy them, but might be if someone else buys them.

Gilbert - get onto it lad.

 

[MalcSB]

I don't know what was offered, but I guess that SISU were happy with it, and it fits in with the yarn being spun about looking elsewhere. If they wanted longer they'd have mentioned it wouldn't they? it would appear that Wasps have been around a lot longer than 4 weeks.

If right ( which I am sure you are), that makes councillors comments even more duplicitous, definitely not a act of good faith. Methinks more litigation may arise.

 

[Philosoraptor]

Question:

Does SISU stilll have the option to buy out the charity's share of ACL?

 

[Rusty Trombone]

If right ( which I am sure you are), that makes councillors comments even more duplicitous, definitely not a act of good faith. Methinks more litigation may arise.

Whilst not necessary agreeing with whether the comments are duplicitous, my first thoughts on reading the original CT article was that this would end up in the courts.

 

[James Smith]

Isn't it normally the bit at the end that is missing due to fat fingers hitting post, not the middle bit. Looks like you realised your mistake.

What mistake? I don't always write things in the order they appear in my finished posts. I also sometimes write them in open office and cut and paste them into tapatalk to post on here when finished as I prefer it for better spell check etc. I never have agreed with franchised sports teams.

 

[Grendel]

Question:

Does SISU stilll have the option to buy out the charity's share of ACL?

If the consortium buy it yes -- so the council are buying it to get round that

 

[Rusty Trombone]

What mistake? I don't always write things in the order they appear in my finished posts. I also sometimes write them in open office and cut and paste them into tapatalk to post on here when finished as I prefer it for better spell check etc. I never have agreed with franchised sports teams.

Apologies then, I'd never considered someone writing the end bits before the middle bits.

 

[Rusty Trombone]

Question:

Does SISU stilll have the option to buy out the charity's share of ACL?

It's the formula price calculation that isn't valid anymore.

 

[MalcSB]

Whilst not necessary agreeing with whether the comments are duplicitous, my first thoughts on reading the original CT article was that this would end up in the courts.

Well at least we agree on something. I think this could mean the end of my club which I have supported since 1966, and to be honest that is all I am bothered about