slowpoke
Well-Known Member
Perhaps he has but can’t print the answers….yet.
Perhaps he has but can’t print the answers….yet.Surely the council would make the most money by taking back the lease and reselling it? And if ACL was going to be liquidated then wouldn’t the lease return anyway, or would it be sold by the liquidators? And I thought ACL wasn’t in admin?
Hope everything comes out because all this Twitter randoms “I heard from a mate” is doing my head in. Why can’t Gilbert ask these questions?
Perhaps he has but can’t print the answers….yet.
Why wouldn’t he be able to print the answers? Isn’t that the point of being a journalist? The biggest thing for me is still Dawkins complaint. If he’s been stopped from bidding before exclusivity that’s a lot more explosive than what he actually said. Also Gilbert going on Facebook looking for upset bond holders focused on exclusivity and not the bid acceptance process, which suggests he doesn’t have anything on that and is hanging it on the Hottiger proposal and the exclusivity clause.
There were ideas and plans for that area when the ground was first thought of years ago.
All feels a bit dirty.
Anyone think we could have MA owning the Arena with Richardson, Richardson controlling Wasps2 at the Arena, SISU getting bought out and MA owning CCFC and it all being planned months ago?
Bondholders stiffed
Small unsecured creditors stiffed
HMRC stiffed and us taxpayers footing the bill?
Would this shock anyone?
They didn’t just pay for 1 gameTo think that CCFC paid to keep the stadium running for 2 weeks is ridiculous. They paid for maybe 1 game to go ahead and then the money Ashley paid to be preferred bidder was used to keep it going surely. And this wasn’t done out of the kindness of his heart, if he hadn’t it looked like ACL was going into liquidation and he wouldn’t have had my preferred bidder time for due diligence
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No I don't think it was either , but for the record how much on top of the rent for pitch repairs was it ?They didn’t just pay for 1 game
He isn’t buying WaspsCould just mean the NDA’s are holding up.
Using logic why would MA be interested in ACL without owning CCFC as well? He can’t be buying it to buy wasps and have us sitting there as tenants. Wasps can’t support ACL and ACL can’t support Wasps, the only reason ACL turns a profit as far as I can see is because CCFC pay rent and bring sizeable footfall to the arena meaning regular income. It’s a meagre profit too. ACL would be operating at loss if it wasn’t for CCFC. I might be wrong but ACL only makes sense with CCFC combined.
Could just mean the NDA’s are holding up.
Using logic why would MA be interested in ACL without owning CCFC as well? He can’t be buying it to buy wasps and have us sitting there as tenants. Wasps can’t support ACL and ACL can’t support Wasps, the only reason ACL turns a profit as far as I can see is because CCFC pay rent and bring sizeable footfall to the arena meaning regular income. It’s a meagre profit too. ACL would be operating at loss if it wasn’t for CCFC. I might be wrong but ACL only makes sense with CCFC combined.
Different deal done for Wasps but needs RFU approval etc.Could just mean the NDA’s are holding up.
Using logic why would MA be interested in ACL without owning CCFC as well? He can’t be buying it to buy wasps and have us sitting there as tenants. Wasps can’t support ACL and ACL can’t support Wasps, the only reason ACL turns a profit as far as I can see is because CCFC pay rent and bring sizeable footfall to the arena meaning regular income. It’s a meagre profit too. ACL would be operating at loss if it wasn’t for CCFC. I might be wrong but ACL only makes sense with CCFC combined.
Richardson said, when Wasps moved here, that he wasn’t a property developer and never had been.Yes, why would Richardson (a lifelong property developer) want to run a rugby club if he could avoid it?
Think those days for Richardson have gone he has had his financial fingers well and truly burnt doing that.Yes, why would Richardson (a lifelong property developer) want to run a rugby club if he could avoid it?
I’d imagine the vast majority of ACL revenue is concerts and expos isn’t it? The footfall is great for the Anecdote and the casino, but the hotel, offices, expo spaces wouldn’t really rely on it, surely?
Still represents only 6% of nominal value.The bond holders have raised nearly 21k for legal. Not a huge amount. But more than I expected
Insurance wasn't itRichardson said, when Wasps moved here, that he wasn’t a property developer and never had been.
£21k that will probably only get them through the introduction stage.The bond holders have raised nearly 21k for legal. Not a huge amount. But more than I expected
Looking on companies house ACL & ACL2006 combined profit for 2019 and then 2020 is less than £10k a year. Based on that without our rent and income gained from footfall at matches the Arena is making a loss.I’d imagine the vast majority of ACL revenue is concerts and expos isn’t it? The footfall is great for the Anecdote and the casino, but the hotel, offices, expo spaces wouldn’t really rely on it, surely?
Getting Cov to the prem would surely change that though if you owned both?
Think they had a year or two where they really sweated the asset and made decent turnover but the rugby side ate into it.Looking on companies house ACL & ACL2006 combined profit for 2019 and then 2020 is less than £10k a year. Based on that without our rent and income gained from footfall at matches the Arena is making a loss.
Richardson said, when Wasps moved here, that he wasn’t a property developer and never had been.
Looking on companies house ACL & ACL2006 combined profit for 2019 and then 2020 is less than £10k a year. Based on that without our rent and income gained from footfall at matches the Arena is making a loss.
I am not an arena management specialist though so could be wrong.
That the company he set up to apply for the building grant?Yet now he is a director of his own company that is listed as "Development of building projects" & another one that is " Construction of commercial buildings"
One of Wasps directors attended a property development expo and describe Wasps as a property development company that just happened to have a rugby club attached.Richardson said, when Wasps moved here, that he wasn’t a property developer and never had been.
That the company he set up to apply for the building grant?
Mainly COVID years that severely disrupted the conference/expo business side
It’s hard to actually know when there’s a group structure. Often lots of internal charges and movements mean / tax / profit / loss for one component is hard to identifyWas it making loads before then?
Think they had a couple approaching /£30M turnover, Wasps skimming off to support rugby side.Was it making loads before then?
One of Wasps directors attended a property development expo and describe Wasps as a property development company that just happened to have a rugby club attached.
One of Wasps directors attended a property development expo and describe Wasps as a property development company that just happened to have a rugby club attached.
Council always have I think.Didn't people from the Council and Wasps go out to the South of France to promote property specifically?
That would have definitely triggered legal action by the bondholders. And I'd guess would have meant a buyer paying more than via a pre-pack without paying the bondholders back, otherwise why would MA have paid £1.2m for exclusivity...Surely the council would make the most money by taking back the lease and reselling it? And if ACL was going to be liquidated then wouldn’t the lease return anyway, or would it be sold by the liquidators? And I thought ACL wasn’t in admin?
Hope everything comes out because all this Twitter randoms “I heard from a mate” is doing my head in. Why can’t Gilbert ask these questions?
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