SISU 99 Year Lease? (1 Viewer)

RegTheDonk · Jan 1, 2014

Was just coming off the bog! Did SL just say something about SISU would accept a 99 year lease at the Ricoh?

Feel free to delete this thread if it wasn't.

zuni · Jan 1, 2014

yes he did say that mate

SlowerThanPlatt · Jan 1, 2014

Yep. Heard it too.

ccfc92 · Jan 1, 2014

what would that mean?

fernandopartridge · Jan 1, 2014

ccfc92 said:
what would that mean?

It would mean SISU would buy out ACL's lease and then probably pay extra to extend it.

chiefdave · Jan 1, 2014

is that from SISU directly or just SL speculating? Could be a step forward but it would depend what they mean, do they mean a 99 year lease with ACL, if so at what rent / terms, or do they mean replacing ACL as the management company, if so they would almost certainly need to pay £20m (Higgs share and cost of loan) as a minimum. Hopefully its the former and not on some weird terms that make deal unlikely.

ccfc92 · Jan 1, 2014

fernandopartridge said:
It would mean SISU would buy out ACL's lease and then probably pay extra to extend it.

so the council would still own the Ricoh?

chiefdave · Jan 1, 2014

fernandopartridge said:
It would mean SISU would buy out ACL's lease and then probably pay extra to extend it.

hope that's the case, I've said for a while that is the best option all round. if they buy out ACL and council and pay off the loan I don't think anyone would object to them owning the lease at a peppercorn rent. CCC retaining the freehold would give a level of protection against SISU doing something 'dodgy'.

Rusty Trombone · Jan 1, 2014

ccfc92 said:
so the council would still own the Ricoh?

Indeed, this sort of deal would be what most would want. Access to revenues without wasting money on owning a stadium.

Samo · Jan 1, 2014

I'm sure this was in a SISU statement a while back.

fernandopartridge · Jan 1, 2014

ccfc92 said:
so the council would still own the Ricoh?

The freehold yes.

ccfc92 · Jan 1, 2014

Rusty Trombone said:
Indeed, this sort of deal would be what most would want. Access to revenues without wasting money on owning a stadium.

sounds like a good scenario, what's stopping it happening right away? (tongue in cheek) (apologies to Nick, RFC and all other sixfields attendees)

wingy · Jan 1, 2014

Samo said:
I'm sure this was in a SISU statement a while back.

Fisher brought It up at the Shareholder meeting IIRC,or an SCG.

Astute · Jan 1, 2014

I would be delighted as long as it don't mean they would be with us for 99 years.

SkyBlueScottie · Jan 1, 2014

Its a win win. The freehold becomes more valuable with a long term lease as does the football club.

chiefdave · Jan 1, 2014

wingy said:
Fisher brought It up at the Shareholder meeting IIRC,or an SCG.

Is it noted anywhere exactly what he said? This seems like a big breakthrough if it's as being reported by SL so seems a bit odd everyone missed it so hoping it's not CWR getting the wrong end of the stick.

ccfc92 · Jan 1, 2014

chiefdave said:
Is it noted anywhere exactly what he said? This seems like a big breakthrough if it's as being reported by SL so seems a bit odd everyone missed it so hoping it's not CWR getting the wrong end of the stick.

more than likely :facepalm:

Hobo · Jan 1, 2014

This is the sort of deal most people would expect SISU to be pressing and negotiating for. A lot of us have been frustrated at their lack of vigour in trying to establish such a deal.

It's always been the one that has made sense.

wingy · Jan 1, 2014

chiefdave said:
Is it noted anywhere exactly what he said? This seems like a big breakthrough if it's as being reported by SL so seems a bit odd everyone missed it so hoping it's not CWR getting the wrong end of the stick.

In CJ's first post on this thread.
http://www.skybluestalk.co.uk/threads/39920-Shareholder-s-meeting

chiefdave · Jan 1, 2014

Do you mean this (CJs first post doesn't say anything about it):

Houdi said:
I asked why the club needed the freehold, and what about the ACL 40+ lease. Basically TF said once they owned the freehold, it was then upto the Council to I suppose to wind up ACL, but it wasn't the clubs problem. I think from what he said that they would possibly accept a 100+ lease with I presume peppercorn rent.

That reads to me more that SISU expect the council to wind ACL up, which I'm not sure it's in their power to do, and issue a new lease to SISU, possibly for free. What it would really need is SISU to bid for ACL with an agreement with CCC that once they take over the lease will be altered.

Can someone that was there clarify or better still can our esteemed local press get hold of someone and push for some details on it.

wingy · Jan 1, 2014

chiefdave said:
Do you mean this (CJs first post doesn't say anything about it):

That reads to me more that SISU expect the council to wind ACL up, which I'm not sure it's in their power to do, and issue a new lease to SISU, possibly for free. What it would really need is SISU to bid for ACL with an agreement with CCC that once they take over the lease will be altered.

Can someone that was there clarify or better still can our esteemed local press get hold of someone and push for some details on it.

Sorry CD its houdi's opening post point No4.

wingy · Jan 1, 2014

chiefdave said:
Do you mean this (CJs first post doesn't say anything about it):

That reads to me more that SISU expect the council to wind ACL up, which I'm not sure it's in their power to do, and issue a new lease to SISU, possibly for free. What it would really need is SISU to bid for ACL with an agreement with CCC that once they take over the lease will be altered.

Can someone that was there clarify or better still can our esteemed local press get hold of someone and push for some details on it.

I'd guess Les Reid may have put something in the CT about It ,but It was odd that nothing got reported about he meeting for 2-3 days afterwards and It was low key.

Samo · Jan 1, 2014

I did think it was odd that this was not siezed upon by anyone/everyone. I remember thinking at the time that perhaps this was the target for SISU, the freehold being thier starting position. You don't start by asking for what you really want right? There's nowhere to go from there!

magic82ball · Jan 1, 2014

Obviously this can't be the case. TF said that the Ricoh ship had sailed, that only full ownership was an option, that they were pressing ahead with a new stadium. Do you mean to tell me this was all lies and brinkmanship?

Otis · Jan 1, 2014

ccfc92 said:
what would that mean?

What would it mean for Sisu to have a 99 year old lease?

Guess it would show they were not committed or dedicated enough to commit for the full 100 years.

Would prove once and for all that they were not in it for the long haul.

skybluetony176 · Jan 1, 2014

a 99year lease in the clubs name (cant keep up with which sisu company that is these days) at the right price has to be the best option for both our club and the local council, whether its the best option for joys investors is another question and that will be the sticking point going forward.

chiefdave · Jan 1, 2014

skybluetony176 said:
a 99year lease in the clubs name (cant keep up with which sisu company that is these days) at the right price has to be the best option for both our club and the local council, whether its the best option for joys investors is another question and that will be the sticking point going forward.

spot on, while it would be great for everyone else its hard to see how SISU could ever hope to make £60m plus back that they claim to have already invested along with the additional cost of purchasing the freehold. even with the club and the stadium rejoined and if we managed to get back in the prem without losing much more money I would doubt anyone would pay that much for the club.

skybluetony176 · Jan 1, 2014

chiefdave said:
spot on, while it would be great for everyone else its hard to see how SISU could ever hope to make £60m plus back that they claim to have already invested along with the additional cost of purchasing the freehold. even with the club and the stadium rejoined and if we managed to get back in the prem without losing much more money I would doubt anyone would pay that much for the club.

i guess it would mean we are either stuck with sisu for 99years or it wont happen.

dongonzalos · Jan 1, 2014

Get the 99 year lease ( with the right terms)
Get the club into the championship
Get within striking distance of the prem.

You have a saleable asset again. One that would probably return their investment and some on top.

Far more likely way of making a profit

Than buying the Ricoh

Or

Building a stadium

Hopefully SISU will see the light.

Tonylinc · Jan 1, 2014

I must admit that I had not heard of this prior to SL saying it today but don't think that it has legs. Can you really see the Council expecting Shitzu to pay the rent!

chiefdave · Jan 1, 2014

Tonylinc said:
I must admit that I had not heard of this prior to SL saying it today but don't think that it has legs. Can you really see the Council expecting Shitzu to pay the rent!

wouldn't need to worry about that if it was a peppercorn rent. can't imagine the rent would be much more than that if SISU purchased 100% of ACL and paid off the loan.

Samo · Jan 1, 2014

skybluetony176 said:
i guess it would mean we are either stuck with sisu for 99years or it wont happen.

It wouldnt mean that at all, it would mean SISU would have something to sell. We'd be shot of them a lot sooner IMO.

Rusty Trombone · Jan 1, 2014

Samo said:
It wouldnt mean that at all, it would mean SISU would have something to sell. We'd be shot of them a lot sooner IMO.

Only if they could sell for an awful lot more than they could buy it for, why would the seller sell so cheaply if it was worth more?

Tonylinc · Jan 1, 2014

chiefdave said:
wouldn't need to worry about that if it was a peppercorn rent. can't imagine the rent would be much more than that if SISU purchased 100% of ACL and paid off the loan.

Take your point Dave but I really can't see it being a peppercorn. If it is that would some climb down by the Council and possibly a dereliction of their public duty. I would however be happy with the compromise but then my only concern is for the future of my club.

Samo · Jan 1, 2014

Rusty Trombone said:
Only if they could sell for an awful lot more than they could buy it for, why would the seller sell so cheaply if it was worth more?

Because this particular seller is only too aware that SISU will not fook off until they have something to sell at a profit and it would be in the sellers interest to have the club at the Ricoh when it is eventuallty sold.

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