Nick
Administrator
At this hour?
Wasps deal is for 100% of ACL (8 Viewers)
- Thread starter SimonGilbert
- Start date
italiahorse
Well-Known Member
The Ricoh will always be our home unless Sisu decide otherwise.
italiahorse
Well-Known Member
ACL pay rent for the complex to CCC
italiahorse
Well-Known Member
People keep saying the stadium is for sale.
It's not for sale , all that is on offer is ACL, i.e. the management structure that runs the complex.
Also, the stadium was built for Coventry City but they , via SISU, don't want it apparently.
Grendel
Well-Known Member
No - 250 years is effectively saying have the freehold.
italiahorse
Well-Known Member
Just like the 50 years we had before Sisu broke the lease ?
How long do these structures last ? 50 Years?
stupot07
Well-Known Member
I don't believe they do, I believe that was the £21m upfront payment so they don't pay on going rent.
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Nick
Administrator
We didn't have it, acl had it didn't they?-
stupot07
Well-Known Member
Nothing like the 50 years we had before we broke the lease.
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Grendel
Well-Known Member
The tenant broke the lease - not the leaseholder - the original lease was still there for ACL. What are you on about?
Astute
Well-Known Member
SISU have not and could not be excluded from making a bid. CCC would have to let it go to the highest bidder. So what is your excuse for Joy saying that she isn't interested in what you try to say that she was excluded from?
If SISU would ever had negotiated they might have got what they wanted. But they wanted what they never tried to get other than messing everyone involved about.
italiahorse
Well-Known Member
I thought CCFC were tied in for 50 years ?
Bit early really. More coffee ...... I'll be back
Astute
Well-Known Member
Nothing like the 50 years we had before we broke the lease.
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Yes WE broke the lease. And never tried to get another one. And are still saying that we don't want another one. Yet it is the fault of CCC for not giving our club another lease?
stupot07
Well-Known Member
Is wasn't a leasehold, it was a rental agreement with ACL, not a leasehold for the stadium.
50 x £1.3m = £65m for 25-28 days use, an office and a shop.
£19.5m for the whole complex for 250 years.
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Grendel
Well-Known Member
Is wasn't a leasehold, it was a rental agreement with ACL, not a leasehold for the stadium.
50 x £1.3m = £65m for 25-28 days use, an office and a shop.
£19.5m for the whole complex for 250 years.
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Correct he is getting mixed up between the two deals.
Hobo
Well-Known Member
Is wasn't a leasehold, it was a rental agreement with ACL, not a leasehold for the stadium.
50 x £1.3m = £65m for 25-28 days use, an office and a shop.
£19.5m for the whole complex for 250 years.
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
It shows what you can get when you negotiate sensibly.
J
Jack Griffin
Guest
So why didn't SISU buy at that price?
Last night Fisher was saying the existing contracts were a block to profitability, therefore couldn't/wouldn't buy Ricoh.
Also I would expect wasps to take responsibility for the £14.4m loan.
Waiting for Simon to dig up a few more facts, I'd hope something more comes out this afternoon after the council meeting.
Sick Boy
Super Moderator
You'd be better off following Les Reid, seems much more on the ball.
Astute
Well-Known Member
He was certainly right about the smoking gun :facepalm:
Nick
Administrator
Seems it shot the editor. Allegedly
torchomatic
Well-Known Member
Four words. Four words and a pretty piss-poor excuse if ever I’ve seen one.
“There wasn't any plan for us to try and tempt another club away from their local community for our financial gain. We are simply helping a fellow football club at their request.”
That was Cardoza, he was simply helping us out as we needed a home.
“There wasn't any plan for us to try and tempt another club away from their local community for our financial gain. We are simply helping a fellow football club at their request.”
That was Cardoza, he was simply helping us out as we needed a home.
Astute
Well-Known Member
All his information was shown previously to be wrong although it made some think the JR was going to go the way of SISU.
CCC are not as bad as SISU. Only a joker would say so. How many times did they try to sort things just to find out that Joy was taking the piss? CCC have always said that the door was open for negotiations. Negotiations that SISU never took up. Just like this new ground they keep going on about.
I am not happy with what CCC have done with the lease to Wasps. But how many more years were they supposed to put up with shit from Joy and Fisher in the hope that things would change at our club. Thoroughly pissed off with the lot of them. There had better be a plan for our club that we don't know about. Otherwise the lot of them need shooting.
Astute
Well-Known Member
So easy to pick part of one line out and take it out of context isn't it Torch.
stupot07
Well-Known Member
Do you think it is right for wasps to move 100 miles to Coventry, away from their fan base?
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torchomatic
Well-Known Member
Out of context? No, because I would never ever type "Wasps need a home", well apart from just then.
If they need a home then find one in London. You, CCC and Cardoza are a right little Band of Brothers, aren't you?
If they need a home then find one in London. You, CCC and Cardoza are a right little Band of Brothers, aren't you?
oldskyblue58
CCFC Finance Director
Well that's pretty much full ownership with a 250 year lease.
- how much is being paid for such a lease extension?
- I would assume that in the event of failure then the lease reverts to the freeholder - CCC
- It could allow Wasps to offer a long lease (eg 100yrs) to other tenants like CCFC
- 19.5m seems cheap considering the length of lease etc
- how does this work with the finances that Wasps have?
- Was this on offer to any/all potential interested parties
- Why is it SISU still wont say they are interested?
- where are the proper details?
- Why is it the only tool that CCFC seem to have in this is the fans - is that all they have?
Stepping back I can see the need for a long lease but 250yrs seems an odd one. If ACL is so profitable why sell it? Why not extend the lease of ACL, not sell up and bring both Wasps and CCFC in on long leases with rights to incomes - because lets face it neither club seems well founded financially. It just seems to me frying pan in to fire choosing between the finances of either
Just seems to be questions after questions with no detail or facts coming back
- how much is being paid for such a lease extension?
- I would assume that in the event of failure then the lease reverts to the freeholder - CCC
- It could allow Wasps to offer a long lease (eg 100yrs) to other tenants like CCFC
- 19.5m seems cheap considering the length of lease etc
- how does this work with the finances that Wasps have?
- Was this on offer to any/all potential interested parties
- Why is it SISU still wont say they are interested?
- where are the proper details?
- Why is it the only tool that CCFC seem to have in this is the fans - is that all they have?
Stepping back I can see the need for a long lease but 250yrs seems an odd one. If ACL is so profitable why sell it? Why not extend the lease of ACL, not sell up and bring both Wasps and CCFC in on long leases with rights to incomes - because lets face it neither club seems well founded financially. It just seems to me frying pan in to fire choosing between the finances of either
Just seems to be questions after questions with no detail or facts coming back
Mr T - Sukka!
Active Member
All this is down to SISU and their masterplan of a rent strike and taking ACL to court.
They gambled and lost in spectacular way. They thought they were the only show in town.
And moving away would cause ACL stress.
They lost big time.
They gambled and lost in spectacular way. They thought they were the only show in town.
And moving away would cause ACL stress.
They lost big time.
torchomatic
Well-Known Member
The Prefect
Active Member
Can't be done as rights to some of the 'other' income are contracted out to third parties. In order to get full rights, any buyer of ACL will have to deal with Compass.
J
Jack Griffin
Guest
Rumour is that Wasps have got JLR lined up to sponsor the stadium.. could be nonsense, we we'll have to wait & see if it happens.
Last edited by a moderator:
torchomatic
Well-Known Member
No, with the tag-team combination of SISU, ACL and CCC I think you'll find we did.