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Save the Sky Blue Academy Petition (1 Viewer)

  • Thread starter armybike
  • Start date Jun 29, 2016
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Samo

Well-Known Member
  • Jul 12, 2016
  • #211
Sky Blue Kid said:
What's your problem ?
Click to expand...

No problem... I was just wondering if the missing thousands have turned their back on the club like you have?
 

Sky Blue Kid

Well-Known Member
  • Jul 12, 2016
  • #212
Samo said:
No problem... I was just wondering if the missing thousands have turned their back on the club like you have?
Click to expand...
I haven't turned my back on the Club, just the owners. There's plenty who support the Club but don't attend games for one reason or another, but don't see you having a go at them! They don't spend money going to games and some never have!
 

ceetee

Well-Known Member
  • Jul 12, 2016
  • #213
Deleted member 5849 said:
That is indeed true... and even marking them as Spam doesn't seem to stop it!
Click to expand...
That's why I haven't signed it yet.
When I first tried the website was flakey. Eventually I managed to input my details but didn't input my email address and it wouldn't accept my vote. Sorry but I'm suspicious of sites like that.

I just tried again intending to put in a made-up email address but once more the site was flakey. I will try again because I want to vote,
 

CJ_covblaze

Well-Known Member
  • Jul 12, 2016
  • #214
They are a pain in the arse. There must be an option to unsubscribe to the emails. In fact I'm sure it's a legal requirement.
 

Samo

Well-Known Member
  • Jul 12, 2016
  • #215
Sky Blue Kid said:
I haven't turned my back on the Club, just the owners. There's plenty who support the Club but don't attend games for one reason or another, but don't see you having a go at them! They don't spend money going to games and some never have!
Click to expand...

I AM one of them! I get to fewer and fewer games due to health problems but I don't use the SISU excuse for not following my team.
 
Reactions: Brylowes and Nick

chiefdave

Well-Known Member
  • Jul 12, 2016
  • #216
Orca said:
I'm afraid that expecting CSF to deal equitably with SISU died when they reneged on the deal with Alan Higgs.
Click to expand...
Why? Are you suggesting that CSF deliberately misled our club when they were holding talks about a long term deal? How was a deal for the club to return to Higgs academy agreed if CSF wouldn't deal with the club?

I can't imagine any fan of the club not being up in arms if they thought a body like CSF, who receive funding from the taxpayer, were actively seeking to damage the club.
Orca said:
Yeah, the one Higgs backed out of because at the 11th hour SISU offered £3.5m when the agreed terms were £5m.
Click to expand...
The same thing Higgs rejected an offer of £3.5m for but later sold to Wasps for £2.77m?
 
Reactions: stupot07

Sky Blue Kid

Well-Known Member
  • Jul 12, 2016
  • #217
Samo said:
I AM one of them! I get to fewer and fewer games due to health problems but I don't use the SISU excuse for not following my team.
Click to expand...
You poor fucker!(Violins play) I had a severe heart attack and can hardly breathe but I still travelled 130 miles each way from Caerphilly South Wales and ALL away games but can't travel far anymore. BUT Yes!!! SISU are the biggest fuck up in my mind and NO I refuse to go to games now because of them!!!
 

Orca

Well-Known Member
  • Jul 12, 2016
  • #218
chiefdave said:
Why? Are you suggesting that CSF deliberately misled our club when they were holding talks about a long term deal? How was a deal for the club to return to Higgs academy agreed if CSF wouldn't deal with the club?

I can't imagine any fan of the club not being up in arms if they thought a body like CSF, who receive funding from the taxpayer, were actively seeking to damage the club.

The same thing Higgs rejected an offer of £3.5m for but later sold to Wasps for £2.77m?
Click to expand...

Maybe I got the figures wrong, but it's true that SISU offered a considerably lower sum at the 11th hour.
 

Samo

Well-Known Member
  • Jul 12, 2016
  • #219
Sky Blue Kid said:
You poor fucker!(Violins play) I had a severe heart attack and can hardly breathe but I still travelled 130 miles each way from Caerphilly South Wales and ALL away games but can't travel far anymore. BUT Yes!!! SISU are the biggest fuck up in my mind and NO I refuse to go to games now because of them!!!
Click to expand...

Ah you poor fucker (cue violins again) In my opinion nearly all NOPMers are either lazy, tight or lacking in loyalty. SISU are a very convenient excuse not to bother going. Not you of course SBK, you are the exception.
 

Otis

Well-Known Member
  • Jul 12, 2016
  • #220
We are soon going to have an orchestra aren't we?

Where's the brass section?
 
Reactions: Deleted member 5849

Otis

Well-Known Member
  • Jul 12, 2016
  • #221
I have torn ligaments at the moment. Can I at least get to play the triangle?
 

Sky Blue Kid

Well-Known Member
  • Jul 12, 2016
  • #222
Otis said:
We are soon going to have an orchestra aren't we?

Where's the brass section?
Click to expand...
I can play Guitar and "Kicked the Kit" (Drums) if that's any good Otis
 
Reactions: Otis

Grendel

Well-Known Member
  • Jul 12, 2016
  • #223
Orca said:
Maybe I got the figures wrong, but it's true that SISU offered a considerably lower sum at the 11th hour.
Click to expand...

Did they? Do you have any evidence?
 

Orca

Well-Known Member
  • Jul 12, 2016
  • #224
Grendel said:
Did they? Do you have any evidence?
Click to expand...
I'm re-reading the transcripts of the Higgs vs SISU case now. I'll get back to you.
 

italiahorse

Well-Known Member
  • Jul 12, 2016
  • #225
Grendel said:
Did they? Do you have any evidence?
Click to expand...
Orca said:
I'm re-reading the transcripts of the Higgs vs SISU case now. I'll get back to you.
Click to expand...

Negotiations for the Purchase of the Higgs Charity Share in ACL

"It quickly became clear that SISU had unrealistic expectations for the terms on which they could purchase the Higgs Charity share in ACL; and that the Higgs Charity and they would not agree terms for the sale and purchase of that share, with negotiations between them to that end ceasing by mutual consent before the end of August 2012."
 

Grendel

Well-Known Member
  • Jul 12, 2016
  • #226
italiahorse said:
Negotiations for the Purchase of the Higgs Charity Share in ACL

"It quickly became clear that SISU had unrealistic expectations for the terms on which they could purchase the Higgs Charity share in ACL; and that the Higgs Charity and they would not agree terms for the sale and purchase of that share, with negotiations between them to that end ceasing by mutual consent before the end of August 2012."
Click to expand...

That's nothing to do with Orca's point though is it?
 

Orca

Well-Known Member
  • Jul 12, 2016
  • #227
Grendel said:
That's nothing to do with Orca's point though is it?
Click to expand...
Yes, it's the point. 'unrealistic expectations for the terms', legalese for the difference in what Higgs wanted and what SISU were prepared to offer.
 

italiahorse

Well-Known Member
  • Jul 12, 2016
  • #228
Grendel said:
That's nothing to do with Orca's point though is it?
Click to expand...

You will never accept the details in the document so it's a waste of time explaining.

But ...

  1. On 18 June 2012, SISU made an offer to the Higgs Charity for its share in ACL, set out in an Indicative Term Sheet, for £5.5m, in the form of £1.5m immediate cash and an additional £4m in future payments. However, there were a number of express conditions precedent, namely that completion would only take place after:
ii) agreement between the Bank and SISU, as to the buy out of the ACL loan;​

  • As I have indicated, SISU were of the view that there was no commercial rationale for a deal with the Bank over purchase of the ACL debt, without agreement on the purchase of a share in ACL. However, SISU’s aspirations for the debt purchase too were unrealistic.
  • SISU considered that the Bank debt could be purchased for £2m-5m. It was part of their plan that the debt be purchased – in whole, or at least as to 50%, by them – for that sum. They were not prepared to offer more. The Heads of Terms supposed that, the debt having been purchased, it would be entirely written off; although the Council was sensible to the possibility that SISU might purchase the debt from the Bank (which had no constraints on the person to whom the loan and mortgage might be transferred) and use their position as creditor to put further pressure on ACL and thus the Council.
  • Following due diligence, SISU did not wish to offer the price set out in the Indicative Term Sheet, being willing to offer only closer to £2m than £5.5m. This difference between the price SISU were prepared to offer and the price the Trustees were prepared to accept was (a) irreconcilable and (b) in itself, a showstopper.
Its all there if you can read it ???
 
Last edited: Jul 12, 2016
Reactions: Brylowes, Captain Dart and Orca

chiefdave

Well-Known Member
  • Jul 12, 2016
  • #229
Orca said:
what Higgs wanted
Click to expand...
That would be great if Higgs had then refused to sell to Wasps for less than the £10m formula price or even the £5m that was agreed.
 

Orca

Well-Known Member
  • Jul 12, 2016
  • #230
chiefdave said:
That would be great if Higgs had then refused to sell to Wasps for less than the £10m formula price or even the £5m that was agreed.
Click to expand...

There is the point also that Higgs initially were happy to consider an annuity payment structure for their share although they requested proof of funds. When SISU could not provide this, Higgs then insisted any deal must be cash.

I also note with interest that the deal on the table was structured around a new lease of 125 years. " 'Multi-award winning' Les Reid always claims the lease deal garnered by Wasps was never offered to SISU. It was." My bad - withdrawn, I'd forgotten Wasps got 250 years


Sent from my iPhone using Tapatalk
 
Last edited: Jul 12, 2016

Nick

Administrator
  • Jul 12, 2016
  • #231
Orca said:
There is the point also that Higgs initially were happy to consider an annuity payment structure for their share although they requested proof of funds. When SISU could not provide this, Higgs then insisted any deal must be cash.

I also note with interest that the deal on the table was structured around a new lease of 125 years. 'Multi-award winning' Les Reid always claims the lease deal garnered by Wasps was never offered to SISU. It was.


Sent from my iPhone using Tapatalk
Click to expand...
Isn't wasps 100 percent?
 

chiefdave

Well-Known Member
  • Jul 12, 2016
  • #232
Orca said:
I also note with interest that the deal on the table was structured around a new lease of 125 years. 'Multi-award winning' Les Reid always claims the lease deal garnered by Wasps was never offered to SISU. It was.
Click to expand...
Really? When were CCFC offered 100% ownership of ACL with a 250 year lease for £6.5m?
 
Last edited: Jul 12, 2016
Reactions: stupot07

Captain Dart

Well-Known Member
  • Jul 12, 2016
  • #233
The campaign to claim that SISU offered more than Wasps and were never offered remotely comparable terms because there was a plot afoot to destroy the Football club continues.
 
Reactions: Brylowes and Orca

Brylowes

Well-Known Member
  • Jul 12, 2016
  • #234
Samo said:
I AM one of them! I get to fewer and fewer games due to health problems but I don't use the SISU excuse for not following my team.
Click to expand...
That's a shame Samo, you ok.
 
Reactions: Samo and Otis

Nick

Administrator
  • Jul 12, 2016
  • #235
Samo said:
I AM one of them! I get to fewer and fewer games due to health problems but I don't use the SISU excuse for not following my team.
Click to expand...

This is the difference, sorry to hear about your health issues.

Somebody saying they could go but won't go because of the owners is a long stretch away from somebody who is in your situation .
 
Reactions: Samo and Otis

Orca

Well-Known Member
  • Jul 12, 2016
  • #236
chiefdave said:
Really? When were CCFC offered 100% ownership of ACL with a 150 year lease for £6.5m?
Click to expand...
I was specifically referring to the length of the lease.

CCFC were able to purchase 100% of the stadium, but failed to do so, partly for the reasons outlined by @italiahorse

The amount of money the stadium was sold for and what it was offered to SISU for cannot be sensibly compared. At the time of the SISU deal, the debt with Yorkshire bank hadn't been restructured/refinanced. It is also true that the club owed ACL a substantial amount of money due to the rent strike.
 

Nick

Administrator
  • Jul 12, 2016
  • #237
Orca said:
I was specifically referring to the length of the lease.

CCFC were able to purchase 100% of the stadium, but failed to do so, partly for the reasons outlined by @italiahorse

The amount of money the stadium was sold for and what it was offered to SISU for cannot be sensibly compared. At the time of the SISU deal, the debt with Yorkshire bank hadn't been restructured/refinanced. It is also true that the club owed ACL a substantial amount of money due to the rent strike.
Click to expand...

It is half the length of the lease Wasps have isn't it?
 

Orca

Well-Known Member
  • Jul 12, 2016
  • #238
Nick said:
It is half the length of the lease Wasps have isn't it?
Click to expand...
Sorry, yes. My bad. Wasps have 250 years.
 

chiefdave

Well-Known Member
  • Jul 12, 2016
  • #239
Orca said:
I was specifically referring to the length of the lease.
Click to expand...
OK, lets just look at that. When were CCFC offered a 250 year lease for 100% of ACL?
 
Reactions: Nick and stupot07

Orca

Well-Known Member
  • Jul 12, 2016
  • #240
chiefdave said:
OK, lets just look at that. When were CCFC offered a 250 year lease for 100% of ACL?
Click to expand...
Yeah, already realised my mistake and marked it red above.

I'm just off to go and sit on the naughty step for a bit :shamefullyembarrased:
 
Reactions: Nick

Captain Dart

Well-Known Member
  • Jul 12, 2016
  • #241
chiefdave said:
OK, lets just look at that. When were CCFC offered a 250 year lease for 100% of ACL?
Click to expand...

Swings & roundabouts, the negotiations were 2 different deals, it is up to the buyer to propose terms which were probably covered by a commercial confidentiality agreement anyway.
Wasps £5.5M + lease extension to 250 years, unconditional full repayment of £14.4M loan, Car Park C back to council, purchases 100% ACL - accepted
SISU £5M (reduced to £2M after due diligence) + lease extension to 125 years, conditional on bank negotiation to buy out half loan for £2-5M, purchases 50% ACL - rejected
 

chiefdave

Well-Known Member
  • Jul 12, 2016
  • #242
Captain Dart said:
Swings & roundabouts, the negotiations were 2 different deals,
Click to expand...
That's the point. Some have, since the Wasps deal, complained that CCFC were never offered the same deal. They weren't.
 

Captain Dart

Well-Known Member
  • Jul 12, 2016
  • #243
chiefdave said:
That's the point. Some have, since the Wasps deal, complained that CCFC were never offered the same deal. They weren't.
Click to expand...
Sure, but they couldn't because the deal terms were confidential. They had to negotiate their own deal, they failed!
 

chiefdave

Well-Known Member
  • Jul 12, 2016
  • #244
Captain Dart said:
Sure, but they couldn't because the deal terms were confidential. They had to negotiate their own deal, they failed!
Click to expand...
And again that is the whole point! People are unhappy that everything was done in secret and CCFC weren't offered a similar deal.
 
Reactions: stupot07

Orca

Well-Known Member
  • Jul 12, 2016
  • #245
chiefdave said:
And again that is the whole point! People are unhappy that everything was done in secret and CCFC weren't offered a similar deal.
Click to expand...

The original deal between SISU and ACL was also commercial in confidence but it became public when the court cases started.


Sent from my iPhone using Tapatalk
 
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