The latest Arena valuation is 60 million pounds as of March 2017.
I would love to see the spreadsheet that they used in order to come up with that valuation. :finger::finger:
I would not be able to sleep at night if I was one of the partners of the firm who provided that valuation.
The latest Arena valuation is 60 million pounds as of March 2017.
I would love to see the spreadsheet that they used in order to come up with that valuation. :finger::finger:
I would not be able to sleep at night if I was one of the partners of the firm who provided that valuation.
How much did Joy value it as confirmed in a court of law?You would think surely that's music to SISU's ears as they are just about to go to court about Wasps purchasing the Ricoh for £5m. Not saying it's a smoking gun by any means.
How much did Joy value it as confirmed in a court of law?
Yes she said it was valueless. So how can she argue with someone paying 5m more than the value? Then the loan held against the arena was paid off. So that puts the price paid up even more for something of no value.
Smoking bomb? More like a substandard firework that fizzled out.
You have the legal right to extend a lease that has less than 50 years to run. There is a formula that has to be followed to make sure nobody gets ripped off.She said the Higgs 50% was worthless didn't she at a time without a massive lease?
You have the legal right to extend a lease that has less than 50 years to run. There is a formula that has to be followed to make sure nobody gets ripped off.
So if the Higgs 50% didn't have any value how much would the other 50% be worth?
A sports arena without a sports team has no value. The arena didn't have one. The local team stated several times that they were not interested. As we all know it was Joys plan. It was stated that it was valueless then. Now there are two sporting clubs using it.Surely depends if it's 50% with the option to buy the other 50% or not?
If they are going to court based on an argument of that surely it's obvious they will use the fact they paid 5-6m and it's now valued at 60m?
A sports arena without a sports team has no value. The arena didn't have one. The local team stated several times that they were not interested. As we all know it was Joys plan. It was stated that it was valueless then. Now there are two sporting clubs using it.
Shouldn't Joy be taking Wasps to court as they paid too much?
What is wrong with looking at the counter angle? You are looking at the side where Joy and Fisher will have contradicted themselves if it is the angle they go for. Not the best way to take a case to court is it?Did they pay too much then?
She stated the Higgs share was worthless, Wasps for the lot for 5/6 million with a 250 year lease and it suddenly went up to 60m.
You have to look at which angle they will try and go for.
What is wrong with looking at the counter angle? You are looking at the side where Joy and Fisher will have contradicted themselves if it is the angle they go for. Not the best way to take a case to court is it?
To me the deal done between Wasps and CCC included the condition of the loan being paid off. This meant that they put a total of about 20m into something making a loss and had no tenant with a massive amount of money owed on it and no sign of being paid off. Now it has two sporting clubs using it. Of course the value would go up.
That argument is so yesterday..How much did Joy value it as confirmed in a court of law?
Yes she said it was valueless. So how can she argue with someone paying 5m more than the value? Then the loan held against the arena was paid off. So that puts the price paid up even more for something of no value.
Smoking bomb? More like a substandard firework that fizzled out.
I know OSB58 and others would challenge this but the £5m is not the true purchase price of the Ricoh, it might be the legal purchase price but the Ricoh did come with a large loan £14m amongst other assets / liabilities. It was still a bargain at £19m bujt isn't that the true commercial cost to WASPS for acquiring the Ricoh. That is why they borrowed the big sum to buy the shares to pay off the loan and to repay the owner's loans to WASPS.
And could well be so much tomorrow.That argument is so yesterday..
You seem to have tried hard to show they have a case though. All I have done is shown how easy it would be to defend the case if it happens.I've never said they are going to go into court and absolutely "batter" it, I've said quite the opposite.
Do you not think they are going to bring the massive rise in valuations and what they paid into it? A contradiction wouldn't be something new either would it?
You seem to have tried hard to show they have a case though. All I have done is shown how easy it would be to defend the case if it happens.
All I can see is SISU not getting the nod for JR2 to start with and then putting in an appeal until they get a judge who decides there might be a case to answer. As we all know it isn't what happens in the future. It is what happened at the time. Even Fisher kept continually saying that they wanted an independent valuation. Would he have said that if it would have been valued at 60m at the time? No. It would have been worth less than the loan on it. And we already have the verdict of there being nothing wrong with the loan.
I haven't said that you seem to think that they will win. I said that it seems that you are trying to put an argument together on their behalf.No, I have said for months they won't win. As soon as it was announced.
All that will happen is we find out a few things that are a bit dodgy but all above board etc.
I haven't said that you seem to think that they will win. I said that it seems that you are trying to put an argument together on their behalf.
We would all love something to happen where we get the Ricoh back. We would all love a lump of money to go to our club. I would love to see anyone who did anything wrong have to answer for what they have done. But all that will happen is a waste of time, money and division caused when hopefully we are having a good season.
You should be charging £250 an hour for this insight.Im sure they dont need a stranger on the internet to put an argument together, they will have lawyers.
You should be charging £250 an hour for this insight.
I'm sure that the defence lawyers don't need a stranger on the internet to put a defence together.Im sure they dont need a stranger on the internet to put an argument together, they will have lawyers.
I am just saying that's the angle they will likely take and it is bound to be used at some point by their lawyers.
I know OSB58 and others would challenge this but the £5m is not the true purchase price of the Ricoh, it might be the legal purchase price but the Ricoh did come with a large loan £14m amongst other assets / liabilities. It was still a bargain at £19m bujt isn't that the true commercial cost to WASPS for acquiring the Ricoh. That is why they borrowed the big sum to buy the shares to pay off the loan and to repay the owner's loans to WASPS.
The latest Arena valuation is 60 million pounds as of March 2017.
I would love to see the spreadsheet that they used in order to come up with that valuation. :finger::finger:
I would not be able to sleep at night if I was one of the partners of the firm who provided that valuation.
What wasps bought in 2014 was the net value of ACL without wasps. What was valued in 2015 was a long lease with wasps. Two different things and the valuation in 2015 is not the net worth of acl
They should have had to buy ACL with a long lease but then again I have never understood why the original lease was under 50 years and cost 21m
I always assumed it was loosely tied to the shortfall in finance to build the stadium complex. Someone had to pay for it after it cost CCC around £20M to buy the land off HGB.
I wonder if the Council QC will use the statements of SISU's QC in JR1 in the defence he puts forward, it seems to me that JR2 and JR1 are mutually contradictory positions.I'm sure that the defence lawyers don't need a stranger on the internet to put a defence together.
I am just saying what defence will be put forward if SISU contradict themselves again.
All we can hope for is a smoking gun this time. But whatever happens I can't see our club getting any benefit at all. Unless SISU finally decide to sell to the highest bidder and go that is.
I know OSB58 and others would challenge this but the £5m is not the true purchase price of the Ricoh, it might be the legal purchase price but the Ricoh did come with a large loan £14m amongst other assets / liabilities. It was still a bargain at £19m bujt isn't that the true commercial cost to WASPS for acquiring the Ricoh. That is why they borrowed the big sum to buy the shares to pay off the loan and to repay the owner's loans to WASPS.
It doesn't matter to them, as long as they can get to court..There are so much subjective ifs and buts to this argument I am not sure exactly where Sisu are directing their argument.
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