Otis
Well-Known Member
Yeah, the spouses of all the councillors who may have just recieved a shiny new Land Rover.:claping hands:
I agree, but some people still seem to like the council
Yes, well first they have to pay for their mistakes & write off the debt tghey have amassed.
Putting them in a position of owning the stadium & land which they can use to they can bleed the club dry to pay for their follies can never be good for the future of the club.
Ok, say sisu sold the club tomorrow, half of the debt written off, half to be paid on getting to the PL.
What does the new owner do? Wasps won't want to sell the stadium, still won't be getting much access to matchday or additional revenues, turnover will still be limited to one of the lowest on the championship? What does the new owner do?
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Builds a new stadium as Joy intends to do. :facepalm: The council need to take a long hard look in the mirror.Ok, say sisu sold the club tomorrow, half of the debt written off, half to be paid on getting to the PL.
What does the new owner do? Wasps won't want to sell the stadium, still won't be getting much access to matchday or additional revenues, turnover will still be limited to one of the lowest on the championship? What does the new owner do?
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Ok, say sisu sold the club tomorrow, half of the debt written off, half to be paid on getting to the PL.
What does the new owner do? Wasps won't want to sell the stadium, still won't be getting much access to matchday or additional revenues, turnover will still be limited to one of the lowest on the championship? What does the new owner do?
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I don't agree the Wasp buy-out means the football club will never own the stadium, which by the way if it did would be the first time. This deal takes away any chance of sisu ever getting their hands on it, unfortunately at the moment sisu own our football club, but you never know the future and if a new mega-rich owner turned up he might find doing a deal with Wasps beneficial and fruitful. One thing for certain if our current owners owned the stadium not one penny from "other" revenues would find it's way to the team.
I find your "if"'s a bit iffy.
The chances of owning the Ricoh have plummeted since Wasps came onto the scene. The chances of getting rid of SISU, I would say, are smaller as a consequence.
The new owner pays £2.77m to the Higgs pronto. Which I see no sensible reason for SISU not to do so at this point-there is a choice between being joint landlords (which is what was intended at the start when the Ricoh was built) or remaining as tenants to a 3rd party but this time one with no affiliation to the city. It is a total no-brainer, we have to buy the Higgs share.
Yep. They've plummeted from zero percent chance to now slightly less than that.
The new owner pays £2.77m to the Higgs pronto. Which I see no sensible reason for SISU not to do so at this point-there is a choice between being joint landlords (which is what was intended at the start when the Ricoh was built) or remaining as tenants to a 3rd party but this time one with no affiliation to the city. It is a total no-brainer, we have to buy the Higgs share.
Even if CCFC Ltd was resurrected, which would appear to be a very expensive, and unlikely thing to do, do you really think the owner of the other 50% would not veto the deal. Wasps want 100%, they wouldn't have gone this far if they thought there was a chance they wouldn't get it.
The new owner pays £2.77m to the Higgs pronto. Which I see no sensible reason for SISU not to do so at this point-there is a choice between being joint landlords (which is what was intended at the start when the Ricoh was built) or remaining as tenants to a 3rd party but this time one with no affiliation to the city. It is a total no-brainer, we have to buy the Higgs share.
Yes and there will be a massive party at CCC when the Jr appeal is done with. Their job is done. Ccfc? Meh.My reading of that is both CCC & Higgs were desperate to get rid of it, feared an injunction from SISU did it at haste, saved themselves a lot of hassle destroyed our future in the process.
The problem is that the Higgs share is not so easily bought, see the OSB58 post on this for chapter and verse. At the most basic the purchase of Ltd has to be made to acquire the option for the chance to get first dibs on the Higgs share. How much that costs is a matter for debate. Then we come to the veto and in buying Ltd you're only buying the option not the share and your bid for the share could still be vetoed by Wasps/council. Since the first dibs option is a one shot affair and can't be used again then it's quite a risky thing purchasing Ltd just for the option.
With apologies to OSB58 and his expert post on which this is based.
I think you'll find that route Is closed BSB ,due to nature of the liquidation and the desire of Wasps and the council to see Wasps as sole Owners of ACL.
Can It be legally Challenged ,seems not.
Can It be bought by injecting money back Into LTD + a share of paying down the loan and satisfying Higgs ?
Seppalla has said It's overvalued ,Do they have the money??
The chance to own half of it has gone up considerably. Why don't we do it?
Yes/no, I agree about the share option being difficult, however whilst it remained with Higgs and the council there was alway hope in the medium/long term the club would get first dibs, and that would have been far more attractive to a potential owner than the situation we find ourselves in - wasps will own 100% (well their Maltese hedge fund owners) and we will very likely never have an option to buy a majority stake - 100% ever again.
Do you think Leicester's billionaire owner would have bought them in the same circumstances as us? At least he knew that they were accessing revenues, and that he could buy the stadium and reunited it with the football club and own some assets.
We're now pretty much doomed to being a league one - championship yo yo club at best, another 2-3 seasons will see attendances drop to 6.5-7k
Depressing, yet it seems to me there's very few people bothered, they have some romantic notion that wasps either buy us or hand us over revenue
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CCFC Ltd hasn't been liquidated yet and Appleton was SISU's choice administrator. If we want it we have a month to pay the £2.77m which will land the share in our hands. No talk of Wasps being able to block it.
I'm sure Sisu's legal team are all over this, but you have to assume Wasps have done all their sums on this.
Can't believe Wasps would have bought 50% without knowing for certain they could obtain the other 50%.
Ok, say sisu sold the club tomorrow, half of the debt written off, half to be paid on getting to the PL.
What does the new owner do? Wasps won't want to sell the stadium, still won't be getting much access to matchday or additional revenues, turnover will still be limited to one of the lowest on the championship? What does the new owner do?
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The other shareholder will be able to block it, and they would.
Ltd was never sold. It remains in the hands of SISU-appointed Appleton-the Higgs statement is very clear, the liquidator can purchase the shares.
Yes the problem is that what the administrator has doesn't give you the share it only gives you the first dibs on the share and can only be used once. That purchase can be vetoed and do you think Wasps only want to own 50% and wouldn't veto it?
How do you know that?
Evidence? Wasps have come out and stated that they respect that the 'charity will do what's best for the charity'.
Evidence? Wasps have come out and stated that they respect that the 'charity will do what's best for the charity'.
....yeah, but PWKH also apparently had absolutely no idea about ACL talking to WASPS for the last couple years.....
...so I'd politely suggest he may well be full of shit....IMHO...
EDIT: Although obviously I agree the shares will go to wasps to complete the stitch-up....
....yeah, but PWKH also apparently had absolutely no idea about ACL talking to WASPS for the last couple years.....
...so I'd politely suggest he may well be full of shit....IMHO...
EDIT: Although obviously I agree the shares will go to wasps to complete the stitch-up....
....yeah, but PWKH also apparently had absolutely no idea about ACL talking to WASPS for the last couple years.....
...so I'd politely suggest he may well be full of shit....IMHO...
EDIT: Although obviously I agree the shares will go to wasps to complete the stitch-up....
Have you got the full quote?
Approached in June or July this year weren't they by Wasps? Sure I read that in a CET article.
Evidence? Wasps have come out and stated that they respect that the 'charity will do what's best for the charity'.
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