A JR isn't just on the grounds of legality, you can have followed the letter of the law but still lose a JR.Surely if there's going to be a judicial review some rules need to have at least been bent a little. Which rule?
Unless I've missed something what OSB has said is the figure Wasps paid is the value of ACL which is not the same as the lease. However that doesn't mean the valuation of the lease stacks up.OSB has explained the lease valuation dozens of times and it's now getting like SISU's management fees being SISU taking money out of the club.
ANYTHING...but owned by another nomadic hedge fund who have no interest in football.
Don't we ever learn?!
The mind boggles that some think it's a good idea...
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A JR isn't just on the grounds of legality, you can have followed the letter of the law but still lose a JR.
Unless I've missed something what OSB has said is the figure Wasps paid is the value of ACL which is not the same as the lease. However that doesn't mean the valuation of the lease stacks up.
So the lease is worth £48.5m. What in ACL caused the value of the company to be £42m lower than the value of its major asset?
You know nothing as always.
Certainly no contribution to this thread............... again !!
That would, in my opinion, mean the council's valuation would be classed as an error of fact.If Wasps valuation of the lease doesn't add up (for arguments sake) what's that got to do with a judicial review?
That would, in my opinion, mean the council's valuation would be classed as an error of fact.
And they will be understanding and sympathetic to the club, and use their discretion. If in 18 months time thr club agree another short term deal with wasps, thr FL won't kick us out the league because its not a 10 year deal.I never get this 10 year rubbish from the league, clubs in our league and below are surviving year by year
It's in the FL rules, have a lookI never get this 10 year rubbish from the league, clubs in our league and below are surviving year by year
It's in the FL rules, have a look
No. Wrong again.Ok let's entertain this tripe for a moment. Is your source from within the "sponsor"?
So you're saying the independent valuation carried out to enable the lease to act as security for the bonds doesn't reflect the true value of the lease but is a number that has been arrived at for accounting purposes? Are you suggesting the true value is less and the bond holders don't actually have the level of security claimed in the bond prospectus?Why? A private companies valuation of a lease for accounting purposes is not a sale price. This as I understand it is the point OSB keeps making. You have to compare eggs with eggs.
You're missing the point Dave. Why do CCC have to give proof of anything regarding the sale of ACL? Where are the guidelines for offloading what is essentially a half quango? Is there any? They still retain the freehold so land disposal doesn't come into it. What rules have they broke or not followed correctly? Surely if there's going to be a judicial review some rules need to have at least been bent a little. Which rule?
OSB has explained the lease valuation dozens of times and it's now getting like SISU's management fees being SISU taking money out of the club.
Why? A private companies valuation of a lease for accounting purposes is not a sale price. This as I understand it is the point OSB keeps making. You have to compare eggs with eggs.
No. Wrong again.
From the valuation report:
View attachment 6026
Why? A private companies valuation of a lease for accounting purposes is not a sale price. This as I understand it is the point OSB keeps making. You have to compare eggs with eggs.
But their valuation is based on net future income streams - it is somewhere in the reprt
I'll run through it with you at some point.It's not happening for all the reasons I explained. Whoever your source is perhaps can explain how a contract is pre signed when it clearly breaches the said companies Code Of Conduct Policy. Ask that can you?
Question - why are WASP's so bothered if they are not involved in the case other than witnesses?
How do the JRs cost Wasps time or money?Costs them time and money.
And one who have just admitted that they're more interested in property development than running a rugby club, let alone a football club. Are those that want Wasps to take us over happy for us to be moved as leverage for another property deal?
How do the JRs cost Wasps time or money?
The valuation was to provide assurance and security for the bond holders Tony
How do the JRs cost Wasps time or money?
I must be missing something then as in the Strutt and Parker valuation report dated 23 April 2015 it explicitly states that the valuation is the market value they would expect a buyer to pay on that date.As has been pointed out is based on future earnings forecast, it's not a sale price.
You was one of those that pointed out that CCC sorted out a loan that was more than the value of the Ricoh. They took this loan on and also paid more money on top to ACL and CCC.What evidence can CCC give to show they maximised the return for the taxpayer?
There are certainly questions around the value of the lease given the price Wasps paid for ACL and the lease extension compared to the lease valuation immediately after. If the £48.5m valuation of the lease stands up to scrutiny then would you say £1m for a 200 year extension was a good deal for the taxpayer?
But they can kick us out, I hope you are correct but there are rules and if a member club or clubs complain the rules are being breached the league could take action in fact The FL is not the FA they are separate.And they will be understanding and sympathetic to the club, and use their discretion. If in 18 months time thr club agree another short term deal with wasps, thr FL won't kick us out the league because its not a 10 year deal.
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They can, but I honestly believe they won't, as it would set a precedent, and next time a club comes to renegotiate or renew their tenancy agreement the lease holder then gets carte blance to do what they want. I can't see why any of thr member clubs would complain, as much as sisu have fallen out with everyone in Coventry, the club continues to have foot relationships with the FL and its member club. I don't think thr FA has any jurisdiction when it comes to the golden share or thr FL rules.But they can kick us out, I hope you are correct but there are rules and if a member club or clubs complain the rules are being breached the league could take action in fact The FL is not the FA they are separate.
The FL will know how much SISU have taken the piss out of everyone and everything. They had to deal with them during the Northampton debacle. And do you really believe that they have not been following what has gone on since? So where is the new stadium for instance?At the end of the day we have tried to negotiate, wasps refuse to negotiate using a woolly excuse (they are a mere witness in JR2) and continue to refuse. Thr FL league and its members will be sympathetic
The FL will know how much SISU have taken the piss out of everyone and everything. They had to deal with them during the Northampton debacle. And do you really believe that they have not been following what has gone on since? So where is the new stadium for instance?
The FL's aim will be the same as before. Bend whatever rule that allows us to keep going. SISU know this. We will be allowed to keep the golden share as long as the life support is switched on. They won't want to be left embroiled in legal action like just about everyone else involved in our club. They won't want to risk being the cash cow SISU are desperately looking for.
I'll run through it with you at some point.
Cleary lacking business acumen but I can help.
They will be having legal people reviewing it as they are named.
... because you are a little thick and can't accept other opinions perhaps ?Why don't you explain now rather than wumming and making statements with no basis in fact?
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