Just hire a PR firm or something to post anti Sisu stuff on every article on the telegraph.... oh wait.
Sisu QC says Wasps paid £3.78m to the council for an asset which now appears to be worth almost £50m.
He says they also paid £2.77m to Higgs - although he doesn’t think it’s clear what for as it appears to be a “ransom strip”.
ransom strip is when you own a piece of land that prevents access to another piece of land. So for example I owned the piece of land you needed to cross to get to your house but put up a massive fence and didn't allow you access.
Not sure how that relates to Higgs or ACL.
Unless they mean they needed the higgs share to get what they wanted? ie 100% and a long lease etc?
What does this mean?
Was it 3.78? I thought it was about 5.7 or is that including the extension?
It's £2.78m + £1m for extension
Thing that frustrates me is that there are rules and guidelines for many types of state aid that all follow the same basic process. Its a process you should go though to ensure you can't be accused of incorrectly providing state aid.
There's a lot in there that the council haven't done but because of the way it has been done they seem to be able to say those rules don't apply to this situation.
Things like independent advice, placing on the open market to achieve best price etc. Things that you would expect to happen no matter if it is a rule or not but that haven't happened.
So where's the 5 million or so figure come from in the press etc? 5.75 or whatever?
It was £5.6m for ACL (50% from Higgs, 50% from CCC) and then another million to CCC for the lease.
The judge may find against the council, otherwise it gives authorities carte blanche to do what they like really. Not getting independent advice and bringing more state aid claims to court and ultimately cost the state more money.
I'm not sure, can see it being thrown out again.
Will a decision be made today Nick, or will they come back in weeks.
No idea, my only judging experience is making a murderer and thats been going on years!
But the fans are just that, fans. We are not really qualified to form a considered opinion, following your football clubI don't think you can say 'the fans' as we were never unified in this. I seem to remember fans representatives urging CCC not to do a deal with the club.
ransom strip is when you own a piece of land that prevents access to another piece of land. So for example I owned the piece of land you needed to cross to get to your house but put up a massive fence and didn't allow you access.
Not sure how that relates to Higgs or ACL.
Wonder if the SISU lawyer has drawn a picture of Ann and hung it up in his office?
So where's the 5 million or so figure come from in the press etc? 5.75 or whatever?
Edit: That was just to the council, the higgs share on top adds up to it to get £6.55
He was on about Higgs wasn't he with Wasps?
I did put it in the edit, I didn't click to startSimple maths (for me anyway) 2 x 2.78 = 5.56.
I wonder whether it's referred to as a ransom strip because it clearly isn't worth nearly £3m as it has relatively limited development potential, but, having to pay that much for it as part of a wider deal is holding the buyer to ransom?
I took it as they needed higgs to get the bigger picture.No the Royal Institution of Chartered Surveyors define it thus.. http://www.rics.org/uk/knowledge/glossary/ransom-strips/
The judge may find against the council, otherwise it gives authorities carte blanche to do what they like really. Not getting independent advice and bringing more state aid claims to court and ultimately cost the state more money.
No the Royal Institution of Chartered Surveyors define it thus.. http://www.rics.org/uk/knowledge/glossary/ransom-strips/
Justice Tomlinson says: “You plainly can’t require the repayment of the loan, because it’s now been repaid.”
Sisu QC says they are not sure about the state of the loan, and whether it’s actually been repaid by Wasps and if what they have now is a new loan.
Sounds as if we're approaching a technical issue. If damages are paid to SISU who will pay them, and if it's the government, why aren't they in court? Adjournment imminent?
I am going out on a limb, but I think SISU may win this time but the claim for compensation will as good as fail.
I think that might be a good call.
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