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it was sold for £5.6m not £19m

The price wasps paid was £5.6 million - you just don’t understand for some reason that rather basic fact. Not £19 million but £5.6 million. It’s a fact. Richardson used the leverage of the grounds valuation to borrow against it to get his money back. Another fact

Because dodgy Derek wanted his money back and saw this a way to get £10 million in one day

Eh? If Sisu had purchased the Higgs share as per the formula price they would have paid was it £11 million (?) for the share and the club still would have been paying the same rent it had before Unencumbered was a word Lucas managed to pronounce and that was it.

The shareholder value was £5.6m - it rose to £64m when the lease was purchased - what does that tell you?

Waaps paid £5.6m for the purchase of the shares - they then paid an extra £1m for the purchase of the lease extension. The lease extension raised the valuation of the Arena from £5.6m to I think £64m (?) A valuation that took into account all outgoings did it not?

it wasn’t as there couldn’t be a legal requirement to do that

The loan was a cost of purchase that was reflected in the shareholder value the same as any other payments - there was zero requirement to purchase the loan and the owners of wasps holdings could have paid the mortgage to the council - mutton at the time said the interest on the mortgage would...

No they decided on a different funding source to finance a charge against a business they’d purchased - they wouldn’t have even had an option to refinance without the lease extension and they had no obligation to do so

The guy who committed the crime studied at the university and was here from a child - his migrant status isn’t relevant

ACl was in no debt - there was a £14m charge against it to the council - the shareholder purchase reflected that there was zero obligation for the purchaser of the shares to then buy out the mortgage. Sorry but you are talking nonsense

There was no debt

not really - I heard her summary at the end and it was spot on

Er they did?

it isn’t - the shareholder value was £5.6 and the loan transfer was after purchase. The lease extension allowed a valuation of £60m - the borrowing needed wasn’t £35m it was £14m - the loan wasn’t related to the debt

No it had to be done or we wouldn’t have a club

Its not cool it’s a fact - I can see why the council gave it that lease as it made it unsalable. If you define success as still existing as a club then yea it was as it got rid of the morons at the council and forced them to offer a commercial leased a buyer could fund against

Im saying the original lease was a dumb lease that would have bankrupted ACl and also the football club. Setting a 50 year lease was the most stupid idea imaginable

the initial lease wasn’t tangible for anyone The actual cost was £1.5m with no access other than matchdays no revenues from match related activity The other problem was ACl was made up from a woefully inadequate council and an egotistical fool - they also only had a lease that from day one...

It will be more than what we were paying wasps