Grendel
Well-Known Member
Well yes . The rumour doing the rounds is frightening beyond words in my view.
Cov RFC do NOT want a merger with Wasps (1 Viewer)
- Thread starter MichaelCCFC
- Start date
Well yes . The rumour doing the rounds is frightening beyond words in my view.
Otis
Well-Known Member
Yet you're still using them for some reason aren't you. :thinking about:
NorthernWisdom
Well-Known Member
Grendel
Well-Known Member
Someone on here has actually posted it. God help us if its true - I'm sure it isn't.
Otis
Well-Known Member
I don't think it's going to be true either.
How much bluff and counter bluff have we already had these past few years?
J
Jack Griffin
Guest
Let me explain then, I was dissed for my last post pointing out why Wasps would want to move, I'm not promoting anything here, I am just looking at the facts!
Look at this image and think for a few seconds & you will see that Adams Park is on the outskirts of a medium sized town, some way from the M40 and not even on an A road!
It is a really poor location, so I presume Wasps were initially looking for a new site very close to the M40.
Otis
Well-Known Member
And how many 'stories' have we had too? Byng and his Chinamen and Haskell and the Yanks etc. etc.
If this brings Sisu and ACL seriously to the table though then it'll have been worth it.
NorthernWisdom
Well-Known Member
I can fully see why Wasps would want to move... many reasons why Wasps would want to move...
Professionalism has cursed Rugby really. Coventry tried to buy a top flight place, the likes of Orrel find themselves swallowed up by the Wigan Athletic juggarnaught, Richmond burn brief but bright before fizzling back, traditional London clubs end up in Wycombe, Reading, Oxford... of course there was also the mentalist who destroyed Rugby Lions (again).
Rugby League has spent a fair bit of time with 'mergers' allowing clubs like Huddersfield and Hull to end up in the top flight. Sport (and Rugby in particular) seems on a slippery slope...
It does seem to be coming from a connected fan though,not just on Richardson but plenty of other stuff,Why.
Grendel
Well-Known Member
Now you've said the R word. Torch - call the Samaritans fast'
dongonzalos
Well-Known Member
Bugger "like it" by mistake. I don't want the club to have a matching share of a stadium in COVENTRY with a LONDON team. I want us to own/long-lease/leasehold the whole complex so that we can use the revenue to help get us back in the PL.
I can't believe some on here are seemingly in favour of LONDON Wasps owning a COVENTRY stadium the home of the sky blues and think that it would benefit the club.
Oh well can't wait for the yellow and black seats.
Although ACL have every right to see to who they want to, both ACL and CCFC have said this is the time to build bridges, trust and relationships. I don't think selling half of ACL to LONDON Wasps is going to do that.
Oh well if it sticks 2 fingers up at sisu let's all rejoice..
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
I never said it was a good thing.
I slightly agree with you a new stadium should never happen.
I agree a rugby club from London should not move to the midlands unless the majority of their fans want it.
However put yourself in ACL's shoes.
At the moment we must accept what the judge concluded in court.
SISU wanted to put them out of business.
SISU moved out and since moving out and since moving back SISU have maintained they are building a new stadium.
We expect ACL to sit and wait and try and do a deal with SISU who try to make them extinct and say their future is not at the Ricoh.
I differ to you in that I think SISU should buy ACL out right for a correct price. Due to the recent actions of SISU that price is likely to be undervalued anyway.
I hope in this deal a children's charity gets its money that it is owed.
A second best for me is a long term rent deal that sees the club as profitable and attractive and we are sold to people with bigger ambition.
The only way I can ever see a stadium been people, is if certain individuals will somehow profit from it via connections with building companies ect.....
It will NEVER be of any benefit to CCFC and may kill us off.
However not wanting to ground share with wasps does not make me blind to the fact that I can see why ACL would be insane not to talk to them.
Also it does not make me blind to the fact that CCFC and Wasps ground sharing will increase the value of ACL as a company.
If I were SISU I would try and ascertain how serious wasps are and if I can afford it out bid them. If I can't buy the other half ground share. Then sell up after a profitable time period including promotion.
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Grendel
Well-Known Member
At least you now admit ACL as a business, run by the council, is totally unsustainable and they are desperate to offload it.
Why did you see the light?
dongonzalos
Well-Known Member
Considering the Higgs charity have always said they want to sell as they don't want to be in the football business I am not sure how you are so confused?
Grendel
Well-Known Member
No controlling interest buying that bit and I don't think the real interest behind this will be too interested without control - do you?
dongonzalos
Well-Known Member
To buy a controlling share you will need to buy out one party and a little bit off the other party
Rusty Trombone
Well-Known Member
Something posted by oldskyblue58 previously.
ACL own 77% of a company called IEC Experience Limited which operates the stadium for ACL. ACL sold the other 23% to Compass for 4m.
So ACL, because it owns more than 75% of IEC, is deemed to control that company and its operations.
ACL own 77% of a company called IEC Experience Limited which operates the stadium for ACL. ACL sold the other 23% to Compass for 4m.
So ACL, because it owns more than 75% of IEC, is deemed to control that company and its operations.
That puts a price on the 77% 0f £12M.
Control of ACL/IEC on that basis 37.5% + 23% =£10M.
Rusty Trombone
Well-Known Member
I think you're confusing control of IEC with control of ACL.
dongonzalos
Well-Known Member
4.5 million for the Higgs share and probably another 2 million would for a bit of the councils share would do it.
Grendel
Well-Known Member
I am sure they will pay whatever they need to to gain controlling interest whilst at the same time satisfying their shareholding - whoever they are.
Astute
Well-Known Member
Why pay that much when they can batter them in court and get it cheaper?
Otis
Well-Known Member
But only someone unscruplous and ignoble would do a thing like that I would have thought.
rupert_bear
Well-Known Member
Think we are jumping the gun, should this happen and Wasps move lock, stock and barrel to the Ricoh why does that mean a merger with Cov RFC, they are a separate entity with their own ground in the centre of Coventry and have their own traditional core support of about 1000 amatch give or take.Example when Ospreys were formed they started out as a combination of Neath and Swansea RFC clubs, and then dropped the Neath/Swansea bit, both those clubs still operate individually and attract gates of ove a 1000 each and Ospreys are in the top league.
Otis
Well-Known Member
I think Cov RFC have said they believe it to be a merger proposal, but of course that might not neccessarily be true and is based on what small bit of info that is out there in the public domain.
I do think a merger will be a terrible thing for Cov though. BSB anyone?
skybluetony176
Well-Known Member
That might possibly largely depend on SISU. Their next move could be the deciding factor in all of this. SISU's current ppolicygives anyone an open door to aquire ACL.
Ian1779
Well-Known Member
Except them of course.......
Rusty Trombone
Well-Known Member
Have they had an offer refused?
italiahorse
Well-Known Member
Have they had a reasonable offer refused ?
Didn't they offer Higgs £2M as a good will gesture :facepalm:
Moff
Well-Known Member
To reflect this fairly it should be pointed out that although Swansea and Neath still exist, they are both struggling both on and off the pitch.
Swansea got relegated from the Premier league of Welsh Rugby last season, with Neath just missing out, being the team just above Swansea, whilst both are struggling financially.
I am not saying this would happen with Cov, but it is something to reflect on.
torchomatic
Well-Known Member
Email receive from the SBT.
The Wasps, the Ricoh and the Sky Blues
'The recent story in the Coventry Telegraph about Wasps rugby club taking a majority stake in ACL, the Ricoh Arena operating company, raises some major concerns among Coventry City supporters.
The Sky Blue Trust has stated that it believes that for the good of the football club its long term future lies at the Ricoh Arena, either as tenants or owners, with access to all relevant income streams and, on the face of it, this news makes that future uncertain.
We are in contact with all the relevant parties, Coventry City Council, ACL, Higgs Charity and CCFC to establish the facts and the potential implications on the future of Coventry City. Once we have obtained these, we will be in a position to advise our members and make a decision on what stance and, if necessary, what actions the Sky Blue Trust should take. Until we have a clearer picture of exactly what the situation is, it would be unwise to base any policy or actions on a solitary newspaper report.'
Don't always agree with everything the Trust say, but this is totally spot on.
We are in contact with all the relevant parties, Coventry City Council, ACL, Higgs Charity and CCFC to establish the facts.
Once we have obtained these, we will be in a position to advise our members and make a decision on what stance and, if necessary, what actions the Sky Blue Trust should take.
Until we have a clearer picture of exactly what the situation is, it would be unwise to base any policy or actions on a solitary newspaper report.
Absolutely.
Translation: "We are as clueless as everyone else and because we have no strategy we just react to events. We always say we are in contact with all parties but because we say all contact is confidential nobody knows what we are doing at all. Its a brilliant tactic! Love and kisses Jan the Man and Roge the Dodge"
When?
