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Would that not contradict what was stated in the JR. Wasn't the defence based around it being equivalent to a commercial loan and a commercial lender would have been happy to loan the money. Was any evidence ever given to actually support that statement?

I would suggest it would have been wise of the council to see proof of funds prior to selling ACL to them.

Agreed, this is like Fisher building a new ground for us on the never never then asking to borrow a shit load of money while claiming we're the richest club in Europe!

This is more like you have a loan you can't afford to repay so you take out another loan, however you need money for the monthly payments so you take out even more so you have enough to pay them. You now owe a lot more than the amount you couldn't afford to pay before. You hope you'll either...

Winkleman is rich (or at least was before he decided to get involved in football) but in a pretty well off, comfortable life kind of way. Not in a I'm going to build a stadium way.

Where else would he be expected to be the day after the season finishes?

The point he's making is that he wouldn't fund Wasps move to Coventry out of principle isn't he? And of course while he might lose out on £120 of interest equally he won't have risked losing all the money put in.

But isn't that exactly the sort of person who will have money to throw at something like this? People on average salaries aren't making investments like this.

You're not seriously suggesting that if Fisher came out and said fans should pay out a few grand each to pay back SISU everyone would be lining up saying its a great idea?

That's fair enough for the man on the street but journalists should be digging deeper and not just printing what they are told to print by Wasps. Lets give them the benefit of the doubt, this news raises a lot of questions to be asked of CCC, Higgs and Wasps, lets see if over the coming days...

Part of this loan is being used to pay the interest!

Saying Wasps moved a few times is like saying we moved from HR to the Ricoh. It's a million miles from moving from London to Coventry! And the interview with Richardson in the CT clearly stated Wasps moved purely and simply for financial reasons. We know they had other offers, offers that would...

I can see this being a repeat of Charlton away on the last day in 2008. We'll lose and be relying on others.

You've misunderstood my point. No one seriously expected there to be other offers for the Ricoh but if there were it was expected to come from an investment group not connected with CCFC. It certainly wasn't expected to be a rugby club from London. Yes SISU are an investment group but they are...

So basically the security is about as useful as an IOU from Joy.

I don't think I've ever had a business lease that has allowed me to transfer ownership of the lease without the freeholders permission. When I've sold a business with a lease I've had to get it signed off by the freeholder and if any of my businesses had gone bust it wouldn't have ended up in...

Surely even our council are not dumb enough to have forgotten to put a clause in the lease that should an insolvency event occur the lease reverts to the freeholder?

Maybe some of us believed that while the council were constantly telling us what a disgrace it was that CCFC had been ripped from the community and were playing in Northampton they wouldn't franchise in a team from London! The reality is CCFC should have been the only show in town. This was not...

Seems that way, so either you've got the house very very cheap or you're lying to the bank about how much it is worth when you're applying for your mortgage.

Didn't say it was a smoking gun did I? We know SISU like to drag everyone into court, we know councils and charities are required to get best value. Wasps paid less than £6m a few months later they're saying its been valued at £48m, seems to be a bit of a discrepancy there.