It's obviously for sale. The Wasps negotiations haven't been in secret, have they? If SISU want to be involved, then they need to engage.
But all they're doing is talking about building their own place. Given this is their stated policy - and has been for some time - how else do people expect ACL to behave when a potential purchaser comes along?
thought ACL didnt need a sports franchise? You are right though, there is obviously no love lost for Cov fans about the Ricoh hence the twos up they gave to the place ONE WEEK after returning (even the biggest cynic thought we might get decent crowds for the first 10 games). Lets move on, build a 12-15k stadium of our own, much more suited to our needs. This just helps the process along.
If the council lose the JR it's because they've broken the state aid rules. THEY have. Not SISU.
Did you miss the IF or bother to read the posts it related to?They never lost the JR ??
I discussed it with a Wasps player - that's no secret - on May 3rd. It wasn't new, at least within the Wasps camp, back then
thought ACL didnt need a sports franchise? You are right though, there is obviously no love lost for Cov fans about the Ricoh hence the twos up they gave to the place ONE WEEK after returning (even the biggest cynic thought we might get decent crowds for the first 10 games). Lets move on, build a 12-15k stadium of our own, much more suited to our needs. This just helps the process along.
Did you miss the IF or bother to read the posts it related to?
I did say as a business they are waiting to see the outcome of WASPs approach = even if WASPs offer is accepted they could still top it. Then what would happen?
I assume they feel the JR is still due in their favour - if CCC are as equally confident why should they worry? It is a side issue and a red herring in my view.
A point still not clear is what happens to the £14m loan if WASPs buy 90% of ACL. Because it will still be there - no one will buy ACL while the JR is determining the position of the loan - UNLESS the deal is the loan is cleared or replaced before the JR
Actually, ACL have been courting Wasps as far back as 2010/11.....according to the CT article from Aug. 2013....
Did you miss the IF or bother to read the posts it related to?
and yet it is stated that the consortium is struggling to finance it via the prospectus .......... so how does the council approve a deal three working days from now that hasn't actually been made yet and is apparently unable to be financed? :thinking about:
If you want to get angry with someone - and I don't just mean you - do so at Fisher. He's CEO and perpetuating the 'new stadium' mantra, and in so doing, leaving ACL, as a private limited business and with directors who hold a legal responsibility to that business - with no choice other than to engage with reputable suitors
Courting to sell the business to them or just for use of the stadium?Actually, ACL have been courting Wasps as far back as 2010/11.....according to the CT article from Aug. 2013....
No. The council didn't lend CCFC any money though, did it? It invested in a stadium and retained full ownership of it. If only it hadn't.Did you complain about illegal state aid when the council stepped in as lender of last resort when CCFC's stadium project got into trouble and no private investor would touch it?
Courting to sell the business to them or just for use of the stadium?
And agreed to the sale of Highfield Road and bypassed all the covenants
Well that reputable that at present they are not sure they have enough cash.
Perhaps Wasps will be calling Wonga over the weekend to prop up the deal.
This is the council that demolished the Smithfield Hotel 12 years ago .
Aren't you forgetting the other third party that damage will be done to you - us the ccfc fans?
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Other Councils and its people around the country would never have allowed this to happen.
I think there was a restrictive covenant that reserved the ground for the club and no other purpose unless they had a suitable alternative. It was part if the s106 agreement with the council as part of plans submitted to demolish the ground / build the estate.Ah, it was the Council that sold Highfield Road was it. Not the owners of the club after a grand scheme. That's news to me. Got some evidence of that, or of any 'covenant' that could have prevented a sale between private third parties?
Forgive me, but this looks a little made up and sounds a bit like whining from someone who thinks everything is the Council's fault. Still don't let the facts get in the way of a mindless rant though, eh?
Whether or not ACL need a sports franchise isn't the point is it? As they're not trying to attract a franchise to add to their current business mix. They're talking about best part selling up. They're very, very different....
Love lost? It's a business, man. Their directors have a responsibility to that business. I guess you know that. If an offer comes in that's too good to turn down, they won't. They can't.
If you don't like that model; don't sell your soul - as CCFC did to a Limited business many moons ago. Thereafter, a business will always act to protect it's own interest. It's like 'taming' a lion, and then complaining when it bites your arm off. It's doing what it was intended to do.
Again, aim your sarcasm or wit in the direction of SISU. If ACL is an attractive proposition to Wasps and their stakeholders, it should be to SISU too. But Wasps - like it or not - have gone about this as one would a normal business transaction of it's type. SISU, despite having the funds, haven't. That, my friend is where the blame lies. But yet again, in this thread, I see blame being pointed at ACL, the council, the egg-chasers (at least there's a new scapegoat this time); at everyone expect SISU and their farcical, embarrassing, destructive, mythical stadium
I'm not forgetting them - but what are the council supposed to do if the owners of the club don't want to come to the table, and keep insisting that they are building elsewhere?
Ah, it was the Council that sold Highfield Road was it. Not the owners of the club after a grand scheme. That's news to me. Got some evidence of that, or of any 'covenant' that could have prevented a sale between private third parties?
To be honest, it this happens then it will be best for CCFC if a new stadium is built. It seems after recent games that Fisher's original "vision" of a 15K stadium would just be about right. Leave the Ricoh and the Wasps to have a wonderful future together.
"Normal business transaction"? Ho ho. A few leaks to the press and a quickie nod from a pliant Council. No consultation with any other stakeholders (fans of either club) I notice. Rotten Boroughs indeed.
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Going to be a very sad day if a London sporting team ends up playing at the Ricoh and Coventry City FC end up playing outside of Coventry.
Going to be a very sad day if a London sporting team ends up playing at the Ricoh and Coventry City FC end up playing outside of Coventry.
I nominate Frankie Howerd to play lead in the TV series about it.
I think there was a restrictive covenant that reserved the ground for the club and no other purpose unless they had a suitable alternative. It was part if the s106 agreement with the council as part of plans submitted to demolish the ground / build the estate.
Interesting how such a covenant was never placed on its replacement!
That 'offering' acts as undiluted précis of your ignorance of events. Thanks for sharing
who could have foreseen the club choosing to move out?
The rent deal to return to the Ricoh was handled in an incognito manner by the club, which was widely praised.
Seeing as there has been no comment from the club regarding any potential Wasps acquisition, has there been any firm confirmation that SISU aren't trying to thrash out an equivalent deal?
This might be a bit pie in the sky but it's hard to completely rule out at this stage.
I'm amazed that the idiots who agreed to a yearly rental of over a million pounds couldn't have foreseen that.
Or foreseen attempting to adopt a rugby club from outside of the city!So in that case the covenant (if it existed) wasn't actually broken, was it? A suitable alternative had been found (and indeed occupied) before the HR land had been built on.
As for a new covenant on the Ricoh, who could have foreseen the club choosing to move out?
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