Leicester tigers for sale 60m

Discussion in 'Coventry City General Chat' started by higgs, Jun 25, 2019.

  1. higgs

    higgs Well-Known Member

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    How ironic if sisu bought Leicester tigers we would then have a stadium to play in and we would also have a rugby team to kick the Shit out of wasps in the premiership. We would just be playing our games in Leicester instead of Birmingham but we would own a stadium 26k capacity.

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  2. kg82

    kg82 Well-Known Member

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    There’s no way Welford Road holds that many. And they finished 2nd or 3rd bottom last season.

    And it would be in Leicester!

    Bloody hell, it does hold that many!
     
  3. usskyblue

    usskyblue Well-Known Member

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    Fuckinell...

    Playing in Birmingham without a rugby team anywhere fuckin’ near suddenly sounds appealing m8
     
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  4. CoventryUSA

    CoventryUSA New Member

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    You are on to something with this. But hell, let’s take it a step further.

    King Power is closer to Coventry by a few blocks. And Welford Road is closer to the centre of Leicester.

    I say we switch teams. The foxes become the sky blues, and we vault up to the premier league. They can move closer to town and play on the rugby pitch.

    A couple years of EPL tv revenue should be more than enough to build a shiny new gem of a stadium in Coventry. Leave the Wasps with no other tenant to kick around.
     
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  5. AStonesThrow

    AStonesThrow Well-Known Member

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    Whilst we're on the subject, sod it, let's join up with the other Sky Blue City, make millions playing Bakayoko alongside Aguero and create our own rugby team along with building a ground
     
  6. skyblueeyesrevisited

    skyblueeyesrevisited Well-Known Member

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    Why not buy Newcastle United and set up a proper rivalry with Sunderland. MR can replace the outgoing Rafa and we can transport Jimmy’s statue up to the north-east to to replace the Angel of the North. Dodgy dealers can run coach trips to every match and prematch boat trips on the Tyne.

    Then because home games would be so far away it will encourage more fans to go to away games. Thus starving SISU of revenue.

    The only downside will be the language barrier and not be able to wear anything above the waist in sub zero temperatures.

    Nurse pass my medication.
     
  7. shy_tall_knight

    shy_tall_knight Well-Known Member

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    Welford Road is a rugby union stadium in Leicester, England, and is the home ground for Leicester Tigers. The ground was opened on 10 September 1892 and is located between Aylestone Road and Welford Road on the southern edge of the city centre. Wikipedia
    Address: Aylestone Rd, Leicester LE2 7TR
    Capacity: 25,849

    Built a new stand about 10 years ago.
     
  8. dutchman

    dutchman Well-Known Member

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    Are they called the Tigers because there are so many Indians living in Leicester?
     
  9. skybluesam66

    skybluesam66 Well-Known Member

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    That must mean wasps are called wasps because they are supported by useless annoying cu**s
     
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  10. ccfcway

    ccfcway Well-Known Member

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    “Just”.

    Bizarrely, I can see more and more people even contemplating things like this the longer we are away,

    Someone would have ran a helpline to get you some asssitance if you mentioned this 6 months ago
     
  11. Razzle Dazzle Dean Gordon

    Razzle Dazzle Dean Gordon Active Member

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    Id rather merge with Napoli or Celta, we'd get a bit more sunshine then.
     
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  12. AStonesThrow

    AStonesThrow Well-Known Member

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    Well in that case, we'll have Perth Glory as our sister team, where fans get free holidays as part of the deal.

    And we'll invest in the Colombian Drug industry. Because why not
     
  13. Razzle Dazzle Dean Gordon

    Razzle Dazzle Dean Gordon Active Member

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    Tony Montana would make for a very interesting chairman.
     
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  14. oldskyblue58

    oldskyblue58 CCFC Finance Director

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    Just by way of comparison

    In the 2018 statements Welford road is valued (freehold) at £44m. The 2018 accounts for wasps show the Ricoh valued at £60m (on a very long lease) Capacity circa 26k and 32k respectively but Welford road doesn't have the event halls the Ricoh does.

    From 2018 published financials
    Total Tigers income £20.4m wasps £32.8m
    Rugby & Premiership income Tigers £11.5m wasps £16.7 (sports income)
    Total assets Tigers £58.2m wasps £86.4m
    liabilities Tigers £22.5m wasps £86.5m
    Net balance sheet Tigers £35.6m wasps £(169k)
    annual interest charges Tigers £248k wasps £3.4m
    wages costs Tigers £12.7m wasps £13.4m
    annual losses Tigers £1.2m wasps £9.7m
     
  15. Limey

    Limey Active Member

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    What does that makes wasps estimated value?
     
  16. skybluetony176

    skybluetony176 Well-Known Member

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    A token £1. But you would take on debt liabilities.
     
  17. Nick

    Nick Administrator

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    Has Hoffman got letterheaded paper yet?
     
  18. oldskyblue58

    oldskyblue58 CCFC Finance Director

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    would depend on what you are valuing. Does the £60m for Tigers equate to buying the shares or is it structured in a different way (we dont know). Assume it is the company shares that are for sale Tigers are seeking a £25m uplift from the balance sheet net assets, perhaps their estimation of business goodwill/brand?. You could argue that wasps could do at least the same because of the site size and annual turnover. Also will depend on what the latest lease valuation says

    If you were buying you could just buy just the wasps assets in which case thats £86m per the 2018 balance sheet but it might suit to take on the whole company and effectively delay payment until 2022 on £35m and do some sort of deal on the £18m owed to Richardson. In which case the sale value would be much lower.

    The value would also be affected by the problems in previous accounts, and the continued risks from EC and SISU actions.

    In terms of gross assets you are looking at £86+ but in terms of net assets a lot less anywhere between say £30m and zero i would guess (and it is very much a guess)

    You have to be aware of what is actually for sale eg what the £60m for Tigers actually represents. Same would apply to putting a sale value on wasps. The bottom line is its whatever a willing buyer is prepared to pay and what is being sold
     
  19. fernandopartridge

    fernandopartridge Well-Known Member

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    Wonder why they're selling up?
     
  20. oldskyblue58

    oldskyblue58 CCFC Finance Director

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    dont know but it could be they need a single owner in order to drive the company business on. They don't have big borrowings but they have many shareholders which might make changes in direction difficult or unwieldy
     
  21. Moff

    Moff Well-Known Member

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    Peter Tom their Chairmen said they need more investment to compete.
    Hopefully Wasps financial constraints will see them plummet.
     

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