Has anyone got any updates from the SBT meeting tonight?

[WillieStanley]

Well they could not have left and negotiated a price for a stake in it, but that would've made too much sense.

Agreed. My post wasn't intended to condone those actions, just oppose the classist naive opinion it it was in reply to.

 

[Brighton Sky Blue]

Agreed. My post wasn't intended to condone those actions, just oppose the classist naive opinion it it was in reply to.

Agreed on that, although it was an odd tangent.

 

[martcov]

Nick Eastwood: Derek Richardson owns Wasps not a Hedgefund. Wasps own 100% of ACL. No other parties involved.

so whats with all the mgi, maltese hedge fund stuff we've been hearing for weeks? more spin and lies?

Also, despite wanting CCFC to be successful ( at the RA I assume ) they are taking SISU's stadium building at face value. No hint of long term.

 

[CJ_covblaze]

Said they weren't changing them because to them it doesnt matter what colour they are could be telling porkies mind

He's also said that Wasps have better things to spend their money on than half a million pounds worth of seats that are no where near the end of their life span.

 

[martcov]

"the club would only return to the Ricoh if negotiations over arena ownership were re-opened by the council" looks like an invitation to me, as well...

AL said she would listen to any sensible legitimate business person with any offer to make....... What was SISU's offer in reply to the invitation? A JR? Or we building a stadium - we don't bluff? Or have I missed something? ML talking crap doesn't count as he was only the spin doctor and had no clout in the company.

 

[martcov]

Somebody is clearly lying. Which proves the point that every party is pretty much full of shit in all this mess

What do you call contact? Contact with AL, or asking ACL to have a look around? She/ CCC may have had no contact. I don't know, but I wouldn't be calling people liars without first knowing more details.

 

[dongonzalos]

"the club would only return to the Ricoh if negotiations over arena ownership were re-opened by the council" looks like an invitation to me, as well...

Key word ownership AKA freehold

 

[WillieStanley]

Agreed on that, although it was an odd tangent.

I was flicking through and for some reason it jumped out, my offence and fingers took control!

 

[martcov]

Richardson's company is called Moonshine. Moonshine are part of MGI Fiduciary Services (Malta). Wasps owners are, ultimately, MGI. Being based in Malta is presumably beneficial to them.

Being in Malta doesn't make it a hedge fund though. Is it a hedge fund, private equity fund or holding company belonging to Richardson? Would be nice to know the facts.

 

[CJ_covblaze]

So there wasn't any hostility towards Fisher? Wasps are getting an easy ride off the SBT and it can't be denied. It makes us look apathetic and a mickey mouse club.

Like the rest of the board and the membership for that matter I'm not stopping anyone coming to these meetings or sending in questions before hand. As this is the case what questions for Nick Eastwood/Wasps/ACL did you send in or ask in person at tonight's meeting? If you couldn't be arsed to send an email (not aware of your work schedule, home address and other commitments so it'd be unfair to slate you for not being there in person) your point is invalid.

 

[CJ_covblaze]

Somebody is clearly lying. Which proves the point that every party is pretty much full of shit in all this mess

Nick didn't specify what he meant by "looking at the Ricoh". Could've been to an event or two and stayed in the hotel just for a nose round and not done any more until July. Tbf maybe we should've asked a further question to his answer. He may have just said about commercial confidentiality which would be understandable though.

 

[Brighton Sky Blue]

Nick didn't specify what he meant by "looking at the Ricoh". Could've been to an event or two and stayed in the hotel just for a nose round and not done any more until July. Tbf maybe we should've asked a further question to his answer. He may have just said about commercial confidentiality which would be understandable though.

Agree that 'looking at the Ricoh' isn't quite the same as holding discussions about buying it, but it does coincide with Lucas' remarks about 'if we don't get this settled we're moving on'.

 

[Rusty Trombone]

Stop spinning. Did Lucas say wasps approached in July 2014 yes or no?

During the interview I saw on BBC with Lucas she said she met with Wasps in July for the first time, she also said this was after Council officers had decided it was a serious offer, the implication being that the approach was earlier and they had spent time reviewing the offer.

I can't see that this deal could be done in 3 months, whereas 9 months from the end of 2013 sounds realistic.

 

[Paxman II]

I read it at the time that Lucas was making rumblings about offers bring em on sort of comments more off the cuff than anything as her authority to sell the Ricoh was not hers. SISU did maintain that they wanted the freehold but the council had refused to consider the freehold.
So everyone continued to play games and get nowhere.

Now it seems in hindsight what the council were considering was a new 250 year lease which may not be freehold but to CCFC may well have changed their perspective. This however was never offered as an idea to SISU but was negotiated with WASP.

To me whichever way you cut it the council did stitch up the football club on this one because they simply did not want to deal with SISU any longer. Partly understandable but owners change and we were talking about the very football club that makes it home in Coventry at the Ricoh Arena specifically built for them. They should have dragged SISU by the scruff of the neck and made sure it was plain and simple for them to understand what they were willing to sell i.e: a 250 year lease for peanuts! What the hell were our council thinking?

As for SISU they reap what they sow. However this is the cities football club a way needed to be found once they decided to sell it for so little.

 

[letsallsingtogether]

Like the rest of the board and the membership for that matter I'm not stopping anyone coming to these meetings or sending in questions before hand. As this is the case what questions for Nick Eastwood/Wasps/ACL did you send in or ask in person at tonight's meeting? If you couldn't be arsed to send an email (not aware of your work schedule, home address and other commitments so it'd be unfair to slate you for not being there in person) your point is invalid.

Of course it is a valid point ?

Sickboy and co need some one to blame just in case some believe it was sisus fault.

 

[Raggs]

Richardson is the primary shareholder in MGI, so if he doesn't own Wasps directly, he owns it through MGI anyway.

Wasps will probably want a pitch with shorter grass to allow for a better running game, we've got some of the quickest players in the premiership and will want to be using them.

 

[James Smith]

Beat me to it. Just waiting for people to keep repeating it now.

Wonder if the council had any input into that phrase given their hypocritical statements on moving sports teams around?

 

[James Smith]

I'd say it's just a happy side effect that we get a better pitch. Speaking of which someone told me rugby pitches have longer grass than football pitches, how is that going to work? Wouldn't want it to stop us playing the Coventry way!

Went to Selhurst park many years ago at the start of the season and it looked suspiciously like they hadn't cut the grass on the pitch for a while. My mate who had invited me (palace fan) said that he thought it was deliberate and that they practiced on a pitch with the same length of grass. The ball didn't roll as far or as fast when kicked and they were able to intercept passes easily because they appeared used to it. So it might mean we can use this to our advantage.

 

[James Smith]

No, it all started this summer, Ann said.

Keep thinking up random situations to blame SISU

Sisu are only partly to blame for this mess, the council have to take their fare share for it. They bent over backwards it seems to make changes to the ACL lease to make it more worthwhile to Wasps. They also made an about face on their stance on moving sports teams around. They should have been offering the same terms to us and a deadline should have been put in place for us to make an offer - however they can just hide behind the NDA as to why they couldn't do that. Of course we were saying we were happy at Sixfields and would be building our own stadium shortly which can't have helped our case. The whole thing is a giant clusterfeck.

 

[Astute]

Sisu are only partly to blame for this mess, the council have to take their fare share for it. They bent over backwards it seems to make changes to the ACL lease to make it more worthwhile to Wasps. They also made an about face on their stance on moving sports teams around. They should have been offering the same terms to us and a deadline should have been put in place for us to make an offer - however they can just hide behind the NDA as to why they couldn't do that. Of course we were saying we were happy at Sixfields and would be building our own stadium shortly which can't have helped our case. The whole thing is a giant clusterfeck.

SISU are fully to blame for using litigation instead of negotiating and also for continually saying that they will build a stadium for our club and will never return to the Ricoh.

CCC are fully to blame for letting Wasps have the arena instead of keeping it for if our club ever has a decent owner again.

 

[Kingokings204]

SISU are fully to blame for using litigation instead of negotiating and also for continually saying that they will build a stadium for our club and will never return to the Ricoh.

CCC are fully to blame for letting Wasps have the arena instead of keeping it for if our club ever has a decent owner again.

I think there is the problem, how long could ccc wait? it seems they waited around long enough and wanted out much before end of 2014. Also it seems sisu are going no where soon and who is to say the new owners will be better?

For what its worth I am certain wasps want ccfc here and want them to succeed despite what people say on here. Why wouldn't they want ccfc to succeed? I think there must be a plan for ccfc in place.

One thing I like Nick Eastwood said. " We have 32,609 seats so why not fill them?" I wish our club would have this attitude and create atmospheres at games and increase footfall. Can only be a good thing, increased revenues in other areas and get people back into the habit.

 

[Astute]

I think there is the problem, how long could ccc wait? it seems they waited around long enough and wanted out much before end of 2014. Also it seems sisu are going no where soon and who is to say the new owners will be better?

For what its worth I am certain wasps want ccfc here and want them to succeed despite what people say on here. Why wouldn't they want ccfc to succeed? I think there must be a plan for ccfc in place.

One thing I like Nick Eastwood said. " We have 32,609 seats so why not fill them?" I wish our club would have this attitude and create atmospheres at games and increase footfall. Can only be a good thing, increased revenues in other areas and get people back into the habit.

Which is what I have been saying. The added problem was the consistant litigation that was taking up time and money that CCC doesn't have. But it still don't make them innocent in all of this shit.

Wasps have some good ideas. Like the water taxi from the city centre to the ground. Just shows how much thought they have put in. They have put more thought in to making the experience better and to raise more income than all of our owners put together for many years and they are yet to move in properly. Just shows how much of a joke our club has become.

 

[albatross]

Stop spinning. Did Lucas say wasps approached in July 2014 yes or no?

How can you possibly accuse him of SPIN for posting statements reported a at specific times ad some of it commented on on this board.

What this does , if anything , in a court of law would probably would corroborate what Nick Eastwood said. They began looking at the RICOH in Dec 2103. Looking does not mean immediate discussions with CCC. Prior to any discussions there would have been a considerable amount of work internally regarding a strategy, such as do they stay at Adams Park, how much money could they raise, how could the structure a deal within their budget.

That said the time lines from the return are pretty convenient and would point to everything being in place by Sept. I sure that it could be argued that CCC had already got most of its stuff ready from getting part way up the isle with SISU previously, WASPs will say that that were prepared with a serious business offer at the market price at the right time.

I think its hard to construct a constructive argument against CCC/Higgs and ACL for selling at that time. Plenty of notice, warnings and discussions (on this forum as a point of record) show that the intent was there and an open invitation was made to the market for offers.

 

[oldfiver]

During the interview I saw on BBC with Lucas she said she met with Wasps in July for the first time, she also said this was after Council officers had decided it was a serious offer, the implication being that the approach was earlier and they had spent time reviewing the offer.

I can't see that this deal could be done in 3 months, whereas 9 months from the end of 2013 sounds realistic.

Playing with words - SHE may have only met WASPS in July for the first time but it is a well known fact WASPS were talking to ACL ( therefore CCC & Higgs ) in 2011

 

[oldfiver]

Which is what I have been saying. The added problem was the consistant litigation that was taking up time and money that CCC doesn't have. But it still don't make them innocent in all of this shit.

Wasps have some good ideas. Like the water taxi from the city centre to the ground. Just shows how much thought they have put in. They have put more thought in to making the experience better and to raise more income than all of our owners put together for many years and they are yet to move in properly. Just shows how much of a joke our club has become.

There used to be the water taxi when CCFC were at the Ricoh - I suspect the owner has simply resurrected his business. It is not a WASPS idea!!

 

[Astute]

I think its hard to construct a constructive argument against CCC/Higgs and ACL for selling at that time. Plenty of notice, warnings and discussions (on this forum as a point of record) show that the intent was there and an open invitation was made to the market for offers.

It was built for our football club using Coventry tax payers money. It shouldn't have been for the benefit of a rugger club that has no ties at all with Coventry.

I understand why it has happened. It still doesn't make it right though.

 

[Raggs]

Playing with words - SHE may have only met WASPS in July for the first time but it is a well known fact WASPS were talking to ACL ( therefore CCC & Higgs ) in 2011

Really? Richardson only came on board to Wasps in 2013... interesting well known fact there.

 

[albatross]

It was built for our football club using Coventry tax payers money. It shouldn't have been for the benefit of a rugger club that has no ties at all with Coventry.

I understand why it has happened. It still doesn't make it right though.

The point I was making is that it is a matter of record that the RICOH would be disposed of by CCC. The world was informed that CCC would not be held hostage to the up keep and running of the stadium with the responsibility of running the city with taxpayers money.

 

[stupot07]

The point I was making is that it is a matter of record that the RICOH would be disposed of by CCC. The world was informed that CCC would not be held hostage to the up keep and running of the stadium with the responsibility of running the city with taxpayers money.

What absolute tosh. Other than the loan (which they will earn interest on) no tax payers money was used to fund ACL. In fact ACL told the JR that ACL was flourishing without the club.


Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors

 

[Grendel]

The point I was making is that it is a matter of record that the RICOH would be disposed of by CCC. The world was informed that CCC would not be held hostage to the up keep and running of the stadium with the responsibility of running the city with taxpayers money.

So when John mutton said that the council would make a small profit after the loan was settled in forty years time he wasn't telling the truth? They weren't planning to keep it for forty years?

 

[M&B Stand]

What the hell kind of shitty comment is that? Jealousy of landlords? What planet are you on? A planet where all people with property are fine upstanding citizens who are simp winning at capitalism while providing an excellent service for the poor ungrateful underclass who should be happy with the overpricing because, well that's just the market. And if your sick, disabled, work three jobs or lack the life skills in order to maintain a home, well that just makes you jealous of the hand that feeds you (at market value).

The feeling I get when I go to the Ricoh is that, in its emptiness for the last year, ACL have let it go. CCFC have been powerless to do anything about that and from the sounds of things, that is only set to continue.

Wonder if Wasps will be charging us a kind of bedroom tax, due to all the unused seats?

 

[Astute]

The point I was making is that it is a matter of record that the RICOH would be disposed of by CCC. The world was informed that CCC would not be held hostage to the up keep and running of the stadium with the responsibility of running the city with taxpayers money.

I get your point. We all do. But did it have to happen so quickly and for 250 years?

And I do understand why it happened. But CCC were making a slight profit from the loan whilst ACL were said to be making a small profit. Other than to bring the litigation to an end which SISU didn't have much of a chance of winning and stopping the waste of money through the litigation there was no reason at all to let Wasps walk away with what should be our stadium........and no reason at all for it to be for so long at all. The naming rights are up soon. Not a good time to let the arena go cheaply at all.

 

[Vigornian]

"...it is a well known fact WASPS were talking to ACL ( therefore CCC & Higgs ) in 2011"

Oh, really? In 2011, Wasps were fully committed to the Booker Sports Village project. They'd spent a lot of money on it, and had received the backing of Wycombe District Council.

The council then had a change of leadership, and did a U-turn, late in 2011. The next plan involved the club being bought by the owner of Barnet FC. That deal fell through at the 11th hour, in April 2012.

In view of those established facts, suggestions that 'it's a well-known fact' that talks about the Ricoh were being held in 2011 are complete and utter nonsense.

 

[Astute]

"...it is a well known fact WASPS were talking to ACL ( therefore CCC & Higgs ) in 2011"

Oh, really? In 2011, Wasps were fully committed to the Booker Sports Village project. They'd spent a lot of money on it, and had received the backing of Wycombe District Council.

The council then had a change of leadership, and did a U-turn, late in 2011. The next plan involved the club being bought by the owner of Barnet FC. That deal fell through at the 11th hour, in April 2012.

In view of those established facts, suggestions that 'it's a well-known fact' that talks about the Ricoh were being held in 2011 are complete and utter nonsense.

Don't worry. Stick around and you will see that some 'well known facts' on here are quite funny

 

[Vigornian]

The low level of accuracy in 'well-known facts' is something which all internet soapboxes have in common!