Ricoh (1 Viewer)

higgs

Well-Known Member
Do we all agree that wasps got it on the cheap?

Sent from my SM-G930F using Tapatalk
 

wince

Well-Known Member
Do we all agree that wasps got it on the cheap?

Sent from my SM-G930F using Tapatalk
The way I see it,is if you bought a house with no windows (no tenant) and needed some repairs ect and a bit run down ,well that's one price, but if you moved a tenant in (wasps) and the also moved a second tenant in (ccfc) and then furnished with christal ect it would be another price wasps got it for a bargain price because of the state it was in ,so yes they got on the cheap
 

Lord_Nampil

Well-Known Member
I always wounder what would have happened if AEG did come in and run the ground like proposed in 2012 would everything be in the mess its in today....

And that was paying a lot more fore a lot less... so yes it was under sold and you can see why sisu have done what they have done, even though the effects of it are where we are at today....
 

pastythegreat

Well-Known Member
The way I see it,is if you bought a house with no windows (no tenant) and needed some repairs ect and a bit run down ,well that's one price, but if you moved a tenant in (wasps) and the also moved a second tenant in (ccfc) and then furnished with christal ect it would be another price wasps got it for a bargain price because of the state it was in ,so yes they got on the cheap
I don't get how the Ricoh Was in a run down state when they bought it?
It had numerous remnant in place (Hilton, casino owners, numerous bars and restaurants AND CCFC).
I came furnished (with an exhibition hall, 4 changing rooms, a hotel, a casino, 3 car parks, planning permission to build ANOTHER hotel on one of them said car parks, a train station, oh, and a 32k seater football stadium).
How exactly have they bought something run down??

Muppet

You could also add to the list of furnishungs, a club shop and a ticket office. 2 things CCFC DON'T have full stop.
 
Last edited:

Sick Boy

Well-Known Member
Of course they did. Was the club ever offered it at the same price? We would have snapped it straight up. Instead we got asked for millions just for food and beverage revenue.
 

skyblue025

Well-Known Member
It's a buyers market. They agreed a price and paid it. SISU were given a price by Higgs for 50% agreed it, then backed out and offered them a 1/3 of the asking price because they were a charity. Had they paid the agreed price we wouldn't be in the mess we are in now. Yes they got it cheap but SISU could of had it cheap as well but chose not too.
 

Sick Boy

Well-Known Member
It's a buyers market. They agreed a price and paid it. SISU were given a price by Higgs for 50% agreed it, then backed out and offered them a 1/3 of the asking price because they were a charity. Had they paid the agreed price we wouldn't be in the mess we are in now. Yes they got it cheap but SISU could of had it cheap as well but chose not too.

When was our club offered the same deal?
 

skyblue1991

Well-Known Member
Do we all agree that wasps got it on the cheap?

Sent from my SM-G930F using Tapatalk
Yes. And the same offer wasn't put to SISU.

On the face of it CCC haven't done anything illegal, just fucking immoral.

Unless SISU know something...

Sent from my G8441 using Tapatalk
 

oldfiver

Well-Known Member
It's a buyers market. They agreed a price and paid it. SISU were given a price by Higgs for 50% agreed it, then backed out and offered them a 1/3 of the asking price because they were a charity. Had they paid the agreed price we wouldn't be in the mess we are in now. Yes they got it cheap but SISU could of had it cheap as well but chose not too.
It was not an open buyers market as CCC set out not to sell to CCFC

It has been accepted ( ? ) the purchase price for the stadium on a very short lease was correct
The "cheap|" element was the lease extension of £1m for a 200 year extension
The argument being then there was only one buyer - the owner of the short lease so lets take £1m
That is what the Courts decided ( as I read it )

However, that was all contrived. Had CCC extended the lease first then sold it then the value would have been substantially more - possibly £22m more.
It was not as if WASPs owned it for say a year then asked for the extension. The deal was concluded within 10 minutes of the first purchase, in the same room with the same people voting.
Even on the purchase of the short lease WASPs had to be given time to raise funds because they did not have enough.
So they were given the lease extension and time to pay, they then scootled off and in quick order raised the bond money to get the Council out of trouble and pay back Mr WASPS personal loan
 

skyblue025

Well-Known Member
They were offered it at the time but put in clauses for this that and the other which unsurprisingly was turned down.
As I said before had we bought Higgs 50% when SISU agreed the price but then backed out we wouldn't be in the shit pot we are now. Wasps would still be playing in London and the Council would only have 50% of a stick to beat us with. Meanwhile the club suffers and the greatest crime of all is that the fans are divided to such an extent some would rather see CCFC go bankrupt. I mean WTF.
 

SBAndy

Well-Known Member
They were offered it at the time but put in clauses for this that and the other which unsurprisingly was turned down.
As I said before had we bought Higgs 50% when SISU agreed the price but then backed out we wouldn't be in the shit pot we are now. Wasps would still be playing in London and the Council would only have 50% of a stick to beat us with. Meanwhile the club suffers and the greatest crime of all is that the fans are divided to such an extent some would rather see CCFC go bankrupt. I mean WTF.

Ah, conditions. What were they again?

Let’s not also forget the council had a veto over the sale of the Higgs share. Let’s not pretend that this pathway to 50% ownership was clear and easy.
 

wince

Well-Known Member
I don't get how the Ricoh Was in a run down state when they bought it?
It had numerous remnant in place (Hilton, casino owners, numerous bars and restaurants AND CCFC).
I came furnished (with an exhibition hall, 4 changing rooms, a hotel, a casino, 3 car parks, planning permission to build ANOTHER hotel on one of them said car parks, a train station, oh, and a 32k seater football stadium).
How exactly have they bought something run down??

Muppet
A bar and hotel with out customers and a football ground without a team is the state the ground was in and also with a debt that couldn't be repaid ,that's not run down to you cool, ditch the name calling just point your point across
 

pastythegreat

Well-Known Member
A bar and hotel with out customers and a football ground without a team is the state the ground was in and also with a debt that couldn't be repaid ,that's not run down to you cool, ditch the name calling just point your point across
No it wasn't. Do I tiny bit of research. CCFC WE'RE BACK AT THE RICOH AS TENNANTS BEFORE W**PS BOUGHT IT.

CCFC returned to the Ricoh (as PAYING tennants) and played Gillingham on 5th Sep 2014. We also bought with us 27k fans to use said casino with no customers!!!
The deal for w**ps to buy the Ricoh arena wasn't until mid November that year. So please explain how they bought a "run down" stadium with no tennants or fans??

Also, how did it come with a debt that can't be repaid?
They bought if for the price of that debt, not with the debt. The fact that they're no in more debt and struggling to pay it is just bad business from w**ps, nothing to do with debts bought with the stadium.
 
Last edited:

pastythegreat

Well-Known Member
Yes. And the same offer wasn't put to SISU.

On the face of it CCC haven't done anything illegal, just fucking immoral.

Unless SISU know something...

Sent from my G8441 using Tapatalk
The illegal part is that CCC GAVE W**ps am unfair advantage. In that they wasn't willing to sell to SISU/CCFC, let alone at the greatly reduced price and greatly increased terms that w**ps were offered.
 

Ashdown

Well-Known Member
Can't believe fans are arguing about which out of town hedge fund got the best deal, oh yeah well SISU perhaps did get done over in the end out of spite after much provocation but that wouldn't have given CCFC the Arena would it ?! No we would be slaves to SISU and their own demands. People are acting like Joy cares any more about the football club than Nick Eastwood.
 

Garryb80

Well-Known Member
No it wasn't. Do I tiny bit of research. CCFC WE'RE BACK AT THE RICOH AS TENNANTS BEFORE W**PS BOUGHT IT.

CCFC returned to the Ricoh (as PAYING tennants) and played Gillingham on 5th Sep 2014. We also bought with us 27k fans to use said casino with no customers!!!
The deal for w**ps to buy the Ricoh arena wasn't until mid November that year. So please explain how they bought a "run down" stadium with no tennants or fans??

Also, how did it come with a debt that can't be repaid?
They bought if for the price of that debt, not with the debt. The fact that they're no in more debt and struggling to pay it is just bad business from w**ps, nothing to do with debts bought with the stadium.
And the council were liasing with the Wasps to sell to them before City even left the ricoh in the first place in 2012. At no point did the council intend allowing SISU to purchase any percentage of the stadium. It was always their intention to allow a London based rugby club to move in.
 

skybluetony176

Well-Known Member
I’m past giving a fuck.

Same. They’ve still got to go though. Same as sisu they’ve now proven themselves be a threat to the future of CCFC. So I’m past giving a fuck if they got it on the cheap. They’re here and somehow the people of Coventry and wider area need to facilitate an environment where their own future in the city becomes unsustainable. Starve them out.
 

higgs

Well-Known Member
I don't thing wasps have spent any money doing up the Ricoh apart from re doing the pitch?

Sent from my SM-G930F using Tapatalk
 

higgs

Well-Known Member
Guess the club shop won't be opening in the retail park again

Sent from my SM-G930F using Tapatalk
 

CCFC54321

Well-Known Member
I don't thing wasps have spent any money doing up the Ricoh apart from re doing the pitch?

Sent from my SM-G930F using Tapatalk
Wasps are financially broke and CCFC not being there only adds to there financial strain.

This is how it’ll pan out...

1. WASPS will amend there demands over the next season with PR being promoted by the CET
2. WASPS will struggle to stay up next season and gates dropping below 10k (inc freebies)
3. The bond will get extended
4. WASPS on the verge or in administration by 20/21 season
5. CCFC come back and try and purchase a % of the Ricoh.
 

Magwitch

Well-Known Member
Wasps are financially broke and CCFC not being there only adds to there financial strain.

This is how it’ll pan out...

1. WASPS will amend there demands over the next season with PR being promoted by the CET
2. WASPS will struggle to stay up next season and gates dropping below 10k (inc freebies)
3. The bond will get extended
4. WASPS on the verge or in administration by 20/21 season
5. CCFC come back and try and purchase a % of the Ricoh.
Or and don’t rule this out the Ricoh is sold to a third party.
 

skyblue025

Well-Known Member
Ah, conditions. What were they again?

Let’s not also forget the council had a veto over the sale of the Higgs share. Let’s not pretend that this pathway to 50% ownership was clear and easy.

The council did have a veto but at the time they and Joy were getting on ok. It was after Joy pulled the plug and tried to distress ACL that they fell out and started treating SISU (the club) like a piece of shit on the bottom of there shoe.

We will never know the conditions and clauses because they were never published. I don't remember SISU at the time denying it though!
 

skyblue025

Well-Known Member
Wasps are financially broke and CCFC not being there only adds to there financial strain.

This is how it’ll pan out...

1. WASPS will amend there demands over the next season with PR being promoted by the CET
2. WASPS will struggle to stay up next season and gates dropping below 10k (inc freebies)
3. The bond will get extended
4. WASPS on the verge or in administration by 20/21 season
5. CCFC come back and try and purchase a % of the Ricoh.

1 -4 more than feasible,
5 Council take back freehold and knock down Ricoh for housing to spite SISU.
 

oldfiver

Well-Known Member
No it wasn't. Do I tiny bit of research. CCFC WE'RE BACK AT THE RICOH AS TENNANTS BEFORE W**PS BOUGHT IT.

CCFC returned to the Ricoh (as PAYING tennants) and played Gillingham on 5th Sep 2014. We also bought with us 27k fans to use said casino with no customers!!!
The deal for w**ps to buy the Ricoh arena wasn't until mid November that year. So please explain how they bought a "run down" stadium with no tennants or fans??

Also, how did it come with a debt that can't be repaid?
They bought if for the price of that debt, not with the debt. The fact that they're no in more debt and struggling to pay it is just bad business from w**ps, nothing to do with debts bought with the stadium.

CCC gave an ( verbal ) undertaking to Steve Waggott that they would not sell to WASPs before he signed the return lease agreement
 

oldfiver

Well-Known Member
The council did have a veto but at the time they and Joy were getting on ok. It was after Joy pulled the plug and tried to distress ACL that they fell out and started treating SISU (the club) like a piece of shit on the bottom of there shoe.

We will never know the conditions and clauses because they were never published. I don't remember SISU at the time denying it though!

This did not preclude them for putting the stadium out to the general market with an option to have an extended lease.
It was a "done deal" so the questions must be asked as to why ?
 

Johnnythespider

Well-Known Member
A bar and hotel with out customers and a football ground without a team is the state the ground was in and also with a debt that couldn't be repaid ,that's not run down to you cool, ditch the name calling just point your point across
Then why not offer the club the deal that was given to wasps ?
 

skyblue025

Well-Known Member
This did not preclude them for putting the stadium out to the general market with an option to have an extended lease.
It was a "done deal" so the questions must be asked as to why ?

The questions wont be answered. We know why though because SISU tried mugging the council off and then the council refused to have anything to do with them. If SISU eventually sell the club i think the council would be onside with the club again. They will never do anything for the club while SISU remain and vicious circle continues.
 

Users who are viewing this thread

Top