Wasps owner Derek Richardson explains Coventry move and rejects "franchise" tag (1 Viewer)

[Grendel]

But they did. So how can you assume it changed?

1. ACL took a 50 year sublease of the Arena from CNR, with the option ofpaying a £1.9m per annum rent or a premium of £21m. In addition, “superrent” was payable, based on ACL’s net profit before tax, of 10% on profitsover £3.75m rising to 50% of profits over £7.75m.
   

Oh dear

 

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[italiahorse]

To start with the length had changed?

.... and they paid £1M for it.
IMHO it makes sense for CCC to take some rent otherwise it does feel like poor business.
The point I'm making is no one on here knows and personal arguments are futile.

 

[Grendel]

.... and they paid £1M for it.
IMHO it makes sense for CCC to take some rent otherwise it does feel like poor business.
The point I'm making is no one on here knows and personal arguments are futile.

Why not ask the council otmr seek a FOI request if they don't answer?

 

[italiahorse]

Why not ask the council otmr seek a FOI request if they don't answer?

I've already done it and they can't disclose any details.
I guess it will come out in the accounts unless they have the same accountant as SISU.

 

[NorthernWisdom]

I've already done it and they can't disclose any details.
I guess it will come out in the accounts unless they have the same accountant as SISU.

'Can't'

Interesting...

Have you appealed the decision?

 

[italiahorse]

'Can't'

Interesting...

Have you appealed the decision?

Confidential agreement.

 

[chiefdave]

I've already done it and they can't disclose any details.

There's a shock. At this rate Kim Jong Un will be the next leader of CCC.

 

[NorthernWisdom]

Confidential agreement.

Have you appealed the decision?

 

[italiahorse]

Oh dear

Sorry, I forgot you don't deal in facts.

 

[italiahorse]

How many times have they paid the superrent?

They never made profits of more than £1m, so never paid any super rent. Wasps will just move money around so they don't have to pay any super rent.

I never said they did. The point is it was in the old contract and IMHO it makes sense to carry it on.
Yes, profits can be hidden but there would be safeguards I assume.

 

[Nick]

I never said they did. The point is it was in the old contract and IMHO it makes sense to carry it on.
Yes, profits can be hidden but there would be safeguards I assume.

Continuing your argument on an assumption?

 

[italiahorse]

Continuing your argument on an assumption?

Seems to be the norm on here.

 

[NorthernWisdom]

I'm guessing you haven't appealed the decision...

 

[Grendel]

Sorry, I forgot you don't deal in facts.

Lol have you ever used a fact to support any of the dross you scribe.

 

[italiahorse]

I'm guessing you haven't appealed the decision...

Not that bothered.
Bad enough finding the secret door behind the council house and asking for Nigel.

 

[italiahorse]

Lol have you ever used a fact to support any of the dross you scribe.

Yes that judges summation never fitted in with you did it :facepalm:

 

[NorthernWisdom]

Not that bothered.

Unsurprised.

 

[italiahorse]

Unsurprised.

I'll just wait for the Wasps accounts email they promised me

 

[skybluetony176]

Yes that judges summation never fitted in with you did it :facepalm:

It fits in with Grendull perfectly. Didn't you hear? SISU lost the JR on purpose.

 

[Nick]

I'll just wait for the Wasps accounts email they promised me

Surely in the know will answer?

 

[italiahorse]

Surely in the know will answer?

I'll ask her

 

[italiahorse]

She says get back on thread and Wasps are not a franchise.
Good enough for me.

 

[stupot07]

I'll just wait for the Wasps accounts email they promised me

It won't be in their accounts, it will be in ACL's if any. It's ACL that have the lease agreement with CCC not wasps.


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[stupot07]

I never said they did. The point is it was in the old contract and IMHO it makes sense to carry it on.
Yes, profits can be hidden but there would be safeguards I assume.

I doubt there will be. Anyway, 10% on £3.5m profit is 1/4 of the rent we used to pay its peanuts, not sure why you're trying to big it up.


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[Nick]

She says get back on thread and Wasps are not a franchise.
Good enough for me.

Ay????

 

[Ian1779]

She says get back on thread and Wasps are not a franchise.
Good enough for me.

So the definition of a franchise has now got nothing to do with upping sticks and moving 85 miles, but instead if you're owned by a hedge fund.

Good logic there.

 

[Intheknow]

No we know the deal was heavily put in favour of wasps and we know that it was reported at the time £1 million was taken off the loan. It's a fairly good assumption that's the freehold. It will be a peppercorn freehold no doubt.

It is reported that £1m was not taken off loan but repaid. Big difference.

 

[Nick]

It is reported that £1m was not taken off loan but repaid. Big difference.

Got a link?

 

[stupot07]

Got a link?

He doesn't need one as he's Intheknow.


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[Intheknow]

Got a link?

So much of the deal is public knowledge you have to wonder why people continue to spout rubbish on here.
http://www.coventrytelegraph.net/news/coventry-news/wasps-rfc-accounts-reveal-63m-8720201

 

[Nick]

So much of the deal is public knowledge you have to wonder why people continue to spout rubbish on here.

We can't all be in the position you are to be in the know though can we?

 

[Intheknow]

We can't all be in the position you are though can we?

Very true. Knowledge helps. But many on here profess knowledge but clearly have none.

 

[Nick]

Very true. Knowledge helps. But many on here profess knowledge but clearly have none.

Still a bit confused as to why somebody in your position would take the time to go onto a football forum of a team they have no interest in?

Surely this sort of PR exercise is way below your pay grade?

 

[NorthernWisdom]

Very true. Knowledge helps. But many on here profess knowledge but clearly have none.

Where were you when I needed an answer?

 

[stupot07]

Where were you when I needed an answer?

Even the tea boy gets a day off now and then.


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