Brighton Sky Blue
Well-Known Member
Still doesn't mean they own it.
A 250 year lease is as good as owning it.
It's as good as owning it.Still doesn't mean they own it.
It's as good as owning it.
Still doesn't mean they own it.
The same way you do on your flat with its 88 year lease.Yes but in a technical sense how can they seek a mortgage on something they don't technically own?
Yes but in a technical sense how can they seek a mortgage on something they don't technically own?
They own the lease any lease 125 years is considered freehold for loan purposes it’s only when it gets below 50 lenders get twitchy
A 250 year lease is as good as owning it.
Can't see any company set up specifically to run a flat, which is what's happened at the Arena.
I think you can't make the same connection.
Substantial fixed asset: I'm failing to see what this is meant to be.
I am sure what was sold was rights to run the Arena and not ownership of the ground.
No not the right to run it, the right to occupy the site for 250 years which is in legal terms equivalent to owning the freehold. No one else can use the site for that period of time without the express permission of wasps.
That right is valued at £52m in the latest financials and can and is used as security for borrowing
This would be in the confidential agreement between CCC and Wasps?
No the lease detail has to be filed at the Land registry. Pay the fee you can get a copy. Has nothing to do with any confidential agreement
No idea but I don't think any commercial business would accept that. It restricts its value
No idea but I don't think any commercial business would accept that. It restricts its value
I think the last thing CCC would want to see is the sale of the company that runs the Arena to an entity which is separate from the team which plays there.
Most leases have a clause that requires the freehold owner approval on disposal, so CCC I would think has to be consulted and approve.
So this information on the consultation and decision will be in Public domain, so it can be scrutinised seeing that CCC is the only freeholder?
And without any threat of relegation afaik not something that's at any great risk.I think the rugby turnover maintaining despite decreasing attendances, really highlights that the attendances are flooded by freebies, so their rely on sponsorship and tv money which remains relatively static.
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Why? It has always been run by separate entities.I think the last thing CCC would want to see is the sale of the company that runs the Arena to an entity which is separate from the team which plays there.
All owners of freehold have to grant an assignment to any new owner of a lease - this isn’t a staggering revelation
That is piss poor. What figure did they announce?
Also good to see them on Sunday and us on Saturday. Means we've got the primacy.
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