Not really, SISU managed to return their club to its home area, Wasps didn't. Therefore Wasps are worse negotiators.
Because of the massive financial risks.
1) wasps losing £3m per annum, massive risk and uncertainty over whether they can attract and sustain a new fan base.
2) ACL currently doesn't make enough profit to cover wasps losses, and in all probably won't for a couple of years
3) the financial risk of football clubs, football clubs lose money, if they took us over expectations would be high, we'd expect championship football at least. In the championship we'd be losing £6-8m per annum to just be a lower midtable side
4) if they bought the club then ACL's small profits would be further diluted as they would be going into both the rugby and football operations, I imagine the owner would be having to foot a bill of £6-8m per annum across the 2 clubs.
It's far too much risk, wasps have been clear that derek richardson's money was about to run out, they were about to be insolvent, they have had to canvass for investment to be able to purchase the Ricoh. There is no more money.
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SISU on a very short only works in league one apparently rental deal whereas Wasps have managed to secure a longer 250 year lease at a cheaper price than the people who should have been in the driving seat could ever have dreamed of.
Sorry NW I think you couldn't be more wrong.
I think you would need to be the owner of wasps to make that statement
I don't think anything will Happen yet. But there is a logic in both clubs belonging to the same group. Wasps are losing money now, but the idea is to make money at the Ricoh. No-one can say whether it will work, but you cannot tell us that it won't - because we have no figures to go by. I would guess that Wasps will do ok though - based on how they have got this far in a short time and their PR.
Because of the massive financial risks.
1) wasps losing £3m per annum, massive risk and uncertainty over whether they can attract and sustain a new fan base.
2) ACL currently doesn't make enough profit to cover wasps losses, and in all probably won't for a couple of years
3) the financial risk of football clubs, football clubs lose money, if they took us over expectations would be high, we'd expect championship football at least. In the championship we'd be losing £6-8m per annum to just be a lower midtable side
4) if they bought the club then ACL's small profits would be further diluted as they would be going into both the rugby and football operations, I imagine the owner would be having to foot a bill of £6-8m per annum across the 2 clubs.
It's far too much risk, wasps have been clear that derek richardson's money was about to run out, they were about to be insolvent, they have had to canvass for investment to be able to purchase the Ricoh. There is no more money.
All the things a landlord looks for in a tenant or lends money to!
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Plus there are economies of scale if everything belongs to the same group. One marketing company, one firm providing staff e.g. Stewards. CCFC and Wasps just concentrate on the sporting side and an administrative firm takes care of running the completely facility.
SISU on a very short only works in league one apparently rental deal whereas Wasps have managed to secure a longer 250 year lease at a cheaper price than the people who should have been in the driving seat could ever have dreamed of.
Sorry NW I think you couldn't be more wrong.
SISU want shot of the club but they want to minimise the loss. So having a ground on your balance sheet makes up in part for you also selling a crap League 1 team. It drives up the club's valuation and makes bidders take a bit more notice.
No businessman except someone with the wealth of the Thais at Leicester or the Sheikh at Man City uses football as anything other than a profit making exercise. Maybe you could 'get over it' too.
I would have seen the club being sold pretty soon after. Having the Ricoh on the balance sheet makes the club as a whole a more attractive package than without it. All part of the exit strategy.
Yep, easy when a two faced council and useless charity roll over for you isn't it?
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Theres 2 sides to a balance sheet. The Assets (Stadium) and the Debts (Cost of building it), effective voids your argument.
Which would be marvellous except that a) SISU will want a chunk of that £50m back and b) Derek Richardson has a sneaky tendency to relocate clubs at a whim.
Not really, SISU managed to return their club to its home area, Wasps didn't. Therefore Wasps are worse negotiators.
I missed the time when Wasps successfully negotiated a return to their home area then?
Yep, easy when a two faced council and useless charity roll over for you isn't it?
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Yes they should have rolled over and let Sisu have it at the price they valued it. I.e. Nothing. Ups sorry, £2M to Higgs because they were a charity.
Wake up and smell the coffee darling.
You have joined the ranks of Grendel and RFC as the forums village idiots.
Oh dear
Here's an idea then. Why dont SISU take their superiour negotiating skills and go and negotiate a 250year lease on a London stadium and then do a stadium swap with Wasps?
Did all this happen whilst you had flounced off and stopped supporting the club?
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Now there is indeed a thought.
We can all say what great negotiators they are then, and attach our colours to their masts as potential saviours.
Maybe Belfast if not London... that'd be good, and successful.
Can someone explain how SISU get 365 days revenue on the P.i.t.S. Stadium. ( their Plan apparently ). The picture Showed a stadium and they want to build a training area. They will play Football 23 times a year. So, where does 365 days come into it? If it doesn't, how will they finance it? A retail park in the sticks? Unlikely. I still think that within the 4 year period, SISU will have to a permanent deal with Wasps- a sale or merger may be their only hope by then.
Theres 2 sides to a balance sheet. The Assets (Stadium) and the Debts (Cost of building it), effective voids your argument.
The ground was already built, muppet.
If your on about the Ricoh its on CCC balance sheets as it belongs to them.
If your on about the Ricoh its on CCC balance sheets as it belongs to them.
The cost of building it isn't on the balance sheet unless the debt is outstanding you clown.
A 100% stake in ACL does not mean that the cost of the Ricoh is charged to your tab.
Because of the massive financial risks.
1) wasps losing £3m per annum, massive risk and uncertainty over whether they can attract and sustain a new fan base.
2) ACL currently doesn't make enough profit to cover wasps losses, and in all probably won't for a couple of years
3) the financial risk of football clubs, football clubs lose money, if they took us over expectations would be high, we'd expect championship football at least. In the championship we'd be losing £6-8m per annum to just be a lower midtable side
4) if they bought the club then ACL's small profits would be further diluted as they would be going into both the rugby and football operations, I imagine the owner would be having to foot a bill of £6-8m per annum across the 2 clubs.
It's far too much risk, wasps have been clear that derek richardson's money was about to run out, they were about to be insolvent, they have had to canvass for investment to be able to purchase the Ricoh. There is no more money.
Personaly I'm coming to the conclusion that SISU are here until the end of the season at the very least. I think they'll want to hang around to gauge an idea of how it's working out for Wasps. If they struggle for numbers and turnover perhaps they'll get a sniff of another angle to distress control of The Ricoh. I cant see what else they've got to keep them here.
Sis bought us back because they needed to be back here when Wasps arrived.
They have no plan B so thankfully they did before Wasps carried on without us.
My understanding is that ACL approached the mugs (Sisu) to enable a start in negotiations simply because the WASPs management wanted CCFC back so they could increase their income. I really am getting totally depressed about this whole sorry saga Yes SiSU have been an unmitigated disaster, I have no truck with them whatsoever, but to believe that a Rugby franchise will bale us out is seriously delusional. Just look at the difference between the 2 sports. Donkeys at CCFC being paid in excess of £3k pa transfer fees in football as a whole obscene whilst in Rugby the highest ever transfer fee has been just in excess of £500K for Sam Tomkins when he moved from RL to an Aussie RU team. So don't ever believe that having people who are used to dealing in the sensible world will start pandering to football supporters basic chant of "Splash the Cash" It ain't gonna happen. Oh and by the way, as stated I have no truck with SISU but to keep on banging on "SISU OUT" without beginning to try and understand that they have nothing to sell so who would want to buy nothing?
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