Interesting, very interesting!
Why take out the loan in the first place ( less than 9 months ago )?
Suddenly announcing it's paid-off in full including interest, very strange, no gain from early settlement.
Would you do that if you'd got 20 years to pay it? Always assuming everything's above board!!!!!!!!!!
Without wanting to sound like a scratched record , the loan has been repaid by means of another loan, and a more expensive one at that.
As someone rightly said on another thread had sisu been the ones to remortgage acl to the tune of 35 mill there would have been hell to pay.
which means cov council miss out on £10m interest payments
If only we had done the same.
Clueless greedy owners !!!!
No interest in the football team just using it to grab real estate.
£10M are you sure? Wasn't the loan for £14M?
Same as wasps you mean but they got it at half the price you thought was acceptable?
They got it at the market value for distressed empty stadium.
Interesting, very interesting!
Why take out the loan in the first place ( less than 9 months ago )?
Suddenly announcing it's paid-off in full including interest, very strange, no gain from early settlement.
Would you do that if you'd got 20 years to pay it? Always assuming everything's above board!!!!!!!!!!
So what you are saying is we should have paid more than them as we added the value?
Was that your view in 2013 when you actively supported the rent strike and actively supported Sisu?
(Quotes at the ready)
Les, Les, those Waps bastards again!which means cov council miss out on £10m interest payments
You keep trying. Jog on .....
Jog on with what?
Fact is wasps have bought you.
You've parted your legs and are now part of their PR machine.
Keep jogging ..........
Keep jogging ..........
Interesting, very interesting!
Why take out the loan in the first place ( less than 9 months ago )?
Suddenly announcing it's paid-off in full including interest, very strange, no gain from early settlement.
Would you do that if you'd got 20 years to pay it? Always assuming everything's above board!!!!!!!!!!
Mortgaged or secured , it makes no difference to me. Fact is its another loan which will need to be repaid.It's not mortgaged it's based solely on a business case, future profits and investors/fans getting a good interest rate.
Its going to depend on what value for the long lease they put in the financials. Very basic (and not accurate obviously)....... The Wasps group last accounts had a negative £10m balance sheet. They have now added in ACL which was 6m positive. Put the lease valuation of £48.5m (uplift from 23m) in and offset that against the increase in loans (35m less loans paid off £24m) take out the losses since 2014 accounts and other consolidation adjustments and you have a positive balance sheet of over £15m I would guess. That's a £25m shift.
The lease value we might raise eyebrows at and think how? but it has been given publically in a legal stock exchange document by specialised professional valuation experts who would have an eye on the risk of overstatement
Its moving figures around within a new group structure - or tidying up the balance sheet as some put it
Can anyone tell me if there was an early redemption penalty?
...Or was liar lucas & her 2 faced team of cunts more concerned with fucking SISU (and consequently CCFC & CRFC) up the arse to worry about actually protecting the peoples money??
Can anyone tell me if there was an early redemption penalty?
...Or was liar lucas & her 2 faced team of cunts more concerned with fucking SISU (and consequently CCFC & CRFC) up the arse to worry about actually protecting the peoples money??
Yes, I think it was all about getting one over on SISU. Same attitude as the majority of here.
most of the posters on here do not hold the future of a football in their hand thoughThat's a pretty poor thing to say, yes the council decision was probably partly based on spite but most posters views on here were provoked by the actions of SISU, it's not like they have been angels and the nasty Coventry fans all took against them is it ? You reap what you sow and all that !!
It's interesting that Italia is unable to answer any questions about making money from Wasps being at the Ricoh
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