I’m sure they could sell to anyone, would that be a good or bad thing though.Just wondering if Wasps could sell the lease to pay off it's debt ? I assume that all leases are transferable ? It would be amusing if Wasps sold the lease to Sisu and the present situation was reversed with Wasps renting the Ricoh from Sisu. It would be interesting to see how much the lease is worth... it would be difficult to place a much higher value than Wasps paid for it surely ?
I'm not sure it would be in SISUs interests to buy the lease it that way (on the unlikely event that the option was there). It would be more beneficial to buy from the administrator if the worst was to happen to ACL, and then I'm not sure that the council has any say in who picks up the lease.Even if the lease was fully asignable the landlord (Council) must approve it and can attach conditions. Those conditions however must be considered reasonable.
It's a good point though - is the 250 year lease asignable? Never really gave it much thought before.
I thought in this situation the lease reverts back to the council?I'm not sure it would be in SISUs interests to buy the lease it that way (on the unlikely event that the option was there). It would be more beneficial to buy from the administrator if the worst was to happen to ACL, and then I'm not sure that the council has any say in who picks up the lease.
I posted this a while back in the Wasps section. It is my interpretation of the prospectus.
Wasps downward spiral...
Always enjoy your posts OSB58I would think the lease could be sold. It would have to be sold at market value. They could for example sell in a lease back arrangement, often done by selling to a pension scheme.
Last valuation was £51m 31/03/2019. I wouldn't think that in current circumstances it is still worth as much
The Rugby club has a 50 year lease i believe on the 250 year lease owned by ACL. so they probably dont need a lease back arrangement
What they originally paid for it is irrelevant.
They would need to clear the bond debt of £35m if it was sold.
CCC would have to give their permission but that can not be unreasonably with held.
A third party owning the stadium would not necessarily mean a cheap deal for CCFC if they decided to come back. Wasps rugby already have their lease.
That's AEGI heard, and it was also posted on here at some point that an events management company (AIG?? AEG??) were/have been interested in the Ricoh.
Be typical City if Wasps do go bust and the Council "conveniently prefer" this type of business as new leaseholders... (or whatever they would be)
yup.......Wasn't it sisu who were going to bring them in?
You're thinking of AEG, SISU wanted to bring them in to run the non-football side of things (ie manage the stadium bowl and arena). I suspect had that happened we would have eventually ended up with AEG as club owners - they have a track record of owning teams that play in their venues and they also have a track record of turning them into winning teams. They're co-founders of the MLS, currently own LA Galaxy and LA Kings (NHL ice hockey) among others. So if they did end up owning the Ricoh I don't think it would be bad news for us. The money it would take to buy us is peanuts to them.I heard, and it was also posted on here at some point that an events management company (AIG?? AEG??) were/have been interested in the Ricoh.
Be typical City if Wasps do go bust and the Council "conveniently prefer" this type of business as new leaseholders... (or whatever they would be)
Oh I was thinking that we were linked with a player called Ricoh Lease.
I would think the lease could be sold. It would have to be sold at market value. They could for example sell in a lease back arrangement, often done by selling to a pension scheme.
Last valuation was £51m 31/03/2019. I wouldn't think that in current circumstances it is still worth as much
The Rugby club has a 50 year lease i believe on the 250 year lease owned by ACL. so they probably dont need a lease back arrangement
What they originally paid for it is irrelevant.
They would need to clear the bond debt of £35m if it was sold.
CCC would have to give their permission but that can not be unreasonably with held.
A third party owning the stadium would not necessarily mean a cheap deal for CCFC if they decided to come back. Wasps rugby already have their lease.
I think the
£51m in 2019. Not bad for something they paid £20m for. What's that, about 150% ROI?
They paid £6.4 million including the extended lease
The loan was paid back by the bond. I know the purchase price was for ACL and the valuation is for the lease but even so it raises a lot of questions for me. Especially when you consider at the time of purchase we were playing there.Actually, technically didn't they pay about £6.5m and the rest of the £20m was taking on a loan. Has the £14m loan now been paid back do we know?
That's the one. Not a bad deal when you think if we hadn't broken our original lease we'd have paid £65m over 50 years for access on matchdays only with no revenues. Of course we did get an offer to buy access to matchday revenues for a one off payment of £24m.Wasn't it £2.77 million to each of council and AH? So, closer to £5.5m. did they bay the extra million to extend the lease? Trying to remember the detail.
That's the one. Not a bad deal when you think if we hadn't broken our original lease we'd have paid £65m over 50 years for access on matchdays only with no revenues. Of course we did get an offer to buy access to matchday revenues for a one off payment of £24m.
Others have speculated that SISU might have bought some of the bonds at distressed prices but other vultures might also smell an opportunity
That's the one. Not a bad deal when you think if we hadn't broken our original lease we'd have paid £65m over 50 years for access on matchdays only with no revenues. Of course we did get an offer to buy access to matchday revenues for a one off payment of £24m.
Actually, technically didn't they pay about £5.5m and the rest of the £20m was taking on a loan. Has the £14m loan now been paid back do we know?
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