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ACL paid up front to avoid paying an annual rent, as this worked out cheaper. I think it's what the loan was for. Some businesses pay annually, some pay at the start. I suspect there will be no annual rent as such in this deal, other than possibly a small ground rent £100 per year, or something...

Only if it was known at the time.

I recall that Joy's PA said that the due diligence wasn't actually completed, and that Joy valued the company at nothing. There was an offer of a £5.5m charitable donation (not the £2m that is often quoted), then an offer of £2m followed that.

Keep going RFC, you're bound to get something right, law of averages and all that.

The CWR website says it won't be broadcast online. Just stay on here though and join in slagging off/defending Conor Thomas.

I imagine the answer is that Joy has stated she doesn't want to get involved. Remember, the only people who say they want the club to leave the Ricoh are the clubs owners.

An appeal hasn't been granted has it?

If I may interject, you are right, they can sell to who they want when they want, but I think a valid point is that a good deal doesn't need to be kept secret does it?

I doubt it, I think a lot of people want SISU to buy at least a share in ACL, should have done it years ago. That's the best option for the club.

The vast majority of clubs refer to themselves as Rugby yet do not play in the town.

Maybe, but stop calling it the CET, they dropped the Evening part sometime before Wasps dropped the London part.

The clubs owners response has come from Les Reid and Rob S hasn't it?

Nope, would still be based on info available at the time the loan decision was made.

That's what I believe, but bear in mind nearly all of my legal knowledge is based on reading shite that appears on your site. So please blame yourself if I'm wrong. :)

Doesn't appear more than £1m or so different. Wasn't that offer also reliant on SISU getting the loan reduced by the bank, which the bank wouldn't agree to anyway. Also neither Higgs or SISU wanted to proceed with the deal.

I think the JR is based on decisions made in respect of info known at the time, stuff that happens later isn't taken into account.

That's because SISU don't want to buy though isn't it?

SISU didn't want to pursue that deal with Higgs though did they, and the bank wouldn't reduce the loan to how much SISU wanted to pay.

What was Joy's offer, and how is it better than this offer that we don't yet know all the details of?