Wasps have not bought the Ricoh... (1 Viewer)

Neutral Fan · Nov 14, 2014

...Moonstone, part of MGI Fiduciary Services (Malta) have bought the Ricoh.

Does this matter when MGI Fiduciary also own Wasps? Well yes it does. Because MGI can always sell/franchise/liquidate Wasps but Wasps can never own the Ricoh. Saying ''Wasps'' own the Ricoh puts a more human face on it but the truth is a Maltese business company owns the stadium and all its profits.

I fear CCFC will leave in the next few years to be replaced by a franchised small club that got lucky and has just made the PL and wants a bigger town to play in to keep its PL status.

Nick · Nov 14, 2014

So it's a company above wasps?

skybluetony176 · Nov 14, 2014

Has anyone told you that you have issues before?

Paxman II · Nov 14, 2014

However you slice it WASP are effectively the new lease holders for them selves. Hell we still say SISU don't we? let me see now Otium anyone?

Godiva · Nov 14, 2014

Nick said:
So it's a company above wasps?

Yes, it will be a company in the group.
I think the hedge fund is looking to sell on both companies in a couple of years. Together they have more value.
They are only in for the short term.

ccfcway · Nov 14, 2014

did MGI go bust with their dodgy furniture ?

RFC · Nov 14, 2014

Neutral Fan said:
...Moonstone, part of MGI Fiduciary Services (Malta) have bought the Ricoh.

Does this matter when MGI Fiduciary also own Wasps? Well yes it does. Because MGI can always sell/franchise/liquidate Wasps but Wasps can never own the Ricoh. Saying ''Wasps'' own the Ricoh puts a more human face on it but the truth is a Maltese business company owns the stadium and all its profits.

I fear CCFC will leave in the next few years to be replaced by a franchised small club that got lucky and has just made the PL and wants a bigger town to play in to keep its PL status.

And in addition have taken on a £14 million debt to be repaid over 20 years

If the Sky Blues owned the Higgs 50% would they have been liable for HALF if Wasps default on it?

I think so, so better OUT OF IT!

Onwards & Upwards, tomorrow is another day, let's move forward & on to a brighter future. PUSB!

Neutral Fan · Nov 14, 2014

Godiva said:
Yes, it will be a company in the group.
I think the hedge fund is looking to sell on both companies in a couple of years. Together they have more value.
They are only in for the short term.

Exactly. I get some stick for saying things some folk don't want to hear but it's been clear from when SISU moved the club to Sixfields that a big game of musical sports clubs was beginning. And the clubs and certainly the supporters won't be winners. Only companies like MGI will be.

Neutral Fan · Nov 14, 2014

RFC said:
And in addition have taken on a £14 million debt to be repaid over 20 years

If the Sky Blues owned the Higgs 50% would they have been liable for HALF if Wasps default on it?

I think so, so better OUT OF IT!

Onwards & Upwards, tomorrow is another day, let's move forward & on to a brighter future. PUSB!

Are you for real? Or just the most deluded man in England?

logjoe · Nov 14, 2014

Neutral Fan said:
...Moonstone, part of MGI Fiduciary Services (Malta) have bought the Ricoh.

Does this matter when MGI Fiduciary also own Wasps? Well yes it does. Because MGI can always sell/franchise/liquidate Wasps but Wasps can never own the Ricoh. Saying ''Wasps'' own the Ricoh puts a more human face on it but the truth is a Maltese business company owns the stadium and all its profits.

I fear CCFC will leave in the next few years to be replaced by a franchised small club that got lucky and has just made the PL and wants a bigger town to play in to keep its PL status.

I am truly baffled with the statements that people make. The football league will not allow franchise football. MK was the one and only team to have done this and then rules etc were brought in stopping it ever happening again.

Raggs · Nov 14, 2014

London Wasps Holdings own the stadium (Wasps). Moonstone owns 98% of Wasps. MGI owns Moonstone, and Derek Richardson is the majority holder of MGI.

Hobo · Nov 14, 2014

Neutral Fan said:
...Moonstone, part of MGI Fiduciary Services (Malta) have bought the Ricoh.

Does this matter when MGI Fiduciary also own Wasps? Well yes it does. Because MGI can always sell/franchise/liquidate Wasps but Wasps can never own the Ricoh. Saying ''Wasps'' own the Ricoh puts a more human face on it but the truth is a Maltese business company owns the stadium and all its profits.

I fear CCFC will leave in the next few years to be replaced by a franchised small club that got lucky and has just made the PL and wants a bigger town to play in to keep its PL status.

You mean like a massive bank loan bought Manchester United?

Raggs · Nov 14, 2014

Sorry, apparently missed one, Wasps are owned by Canmango Ltd, who are owned by Moonstone.

Final paragraph of this blog gives the breakdown. http://robsbl0g.blogspot.co.uk/2014/11/wasps-ricoh-stadium-or-die.html

dongonzalos · Nov 14, 2014

Are moonstone rich enough to fund a loss making football club into the premiership
Southampton style?

Astute · Nov 14, 2014

RFC said:
And in addition have taken on a £14 million debt to be repaid over 20 years

If the Sky Blues owned the Higgs 50% would they have been liable for HALF if Wasps default on it?

I think so, so better OUT OF IT!

Onwards & Upwards, tomorrow is another day, let's move forward & on to a brighter future. PUSB!

~I have calmed down recently. But You have got me going. Well done.

Why do you have to act like a twat all the time? We are homeless. Short term rental agreement is all we have. No idea how much rent we will have to pay in four years. If Wasps would have defaulted we could have got the whole arena. But you say we are better off out of taking over the Arena.

Oh yes I forgot it is good not to have somewhere to call home

Seaside-Skyblue · Nov 15, 2014

Neutral Fan said:
Are you for real? Or just the most deluded man in England?

Let's not knock RFCs optimism. I'd love a pint of whatever RFCs drinking because I'm absolutely down in the dumps with it all. I'm 24 and all the city has done is decline from the point I started appreciating football. All the stick we get in and among Glory supporters, as all the defending we do of pur club despite the abysmal set up. Its just depressing now! I always said it's the glory supporters who were daft and shallow. But at least they aren't the ones worrying, stressed and annoyed constantly by their clubs. Pfft.

Deleted member 4232 · Nov 15, 2014

ITT: straws being grabbed.

stupot07 · Nov 15, 2014

Raggs said:
Sorry, apparently missed one, Wasps are owned by Canmango Ltd, who are owned by Moonstone.

Final paragraph of this blog gives the breakdown. http://robsbl0g.blogspot.co.uk/2014/11/wasps-ricoh-stadium-or-die.html

So is saying that they had already decided on the Ricoh before Nick Eastwood joined in Sep 2012?

Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors

DazzleTommyDazzle · Nov 15, 2014

Neutral Fan said:
Are you for real? Or just the most deluded man in England?

Just England?

italiahorse · Nov 15, 2014

Raggs said:
London Wasps Holdings own the stadium (Wasps). Moonstone owns 98% of Wasps. MGI owns Moonstone, and Derek Richardson is the majority holder of MGI.

Surely CCC own the stadium and Wasps own ACL ?

Noggin · Nov 15, 2014

RFC said:
And in addition have taken on a £14 million debt to be repaid over 20 years

If the Sky Blues owned the Higgs 50% would they have been liable for HALF if Wasps default on it?

I think so, so better OUT OF IT!

Onwards & Upwards, tomorrow is another day, let's move forward & on to a brighter future. PUSB!

ACL would be paying the loan, not wasps or ccfc, if acl couldn't pay the loan then acl could be subject to action from ccc but that still doesn't put wasps or ccfc (in this fictional scenario) on the hook. Surely you remember the fact that a company has just gone into administration/liquidation owing millions and instead of the parent company having to clean up the mess they brought it back again.

Not to mention in your scenario if acl wern't able to pay the loan that would again make a mockery of the fact that building a new stadium is a good idea. If acl couldn't pay a 14mill loan with wasps and ccfc there, the new fictional stadium with just a beaten ccfc won't be able to pay a much bigger than 14mill loan.

Brighton Sky Blue · Nov 15, 2014

Seaside-Skyblue said:
Let's not knock RFCs optimism. I'd love a pint of whatever RFCs drinking because I'm absolutely down in the dumps with it all. I'm 24 and all the city has done is decline from the point I started appreciating football. All the stick we get in and among Glory supporters, as all the defending we do of pur club despite the abysmal set up. Its just depressing now! I always said it's the glory supporters who were daft and shallow. But at least they aren't the ones worrying, stressed and annoyed constantly by their clubs. Pfft.

I am the same age and my first season ticket was our first season in the Football League. Never seen a good full season in that time and have seen us lose to increasingly obscure teams in increasingly shitty grounds. Funny, I feel exactly the same as you when it comes to the glory hunters. I get told by Scottish Arsenal fans that I support a crap team 'just to say you support one' and 'what are we supposed to do, support our crap local team instead?'. Well, kind of yes.

No room in modern football for 24-year old romantics?

stupot07 · Nov 15, 2014

Noggin said:
[/b]ACL would be paying the loan, not wasps or ccfc, if acl couldn't pay the loan then acl could be subject to action from ccc but that still doesn't put wasps or ccfc (in this fictional scenario) on the hook. [/b]Surely you remember the fact that a company has just gone into administration/liquidation owing millions and instead of the parent company having to clean up the mess they brought it back again.

Not to mention in your scenario if acl wern't able to pay the loan that would again make a mockery of the fact that building a new stadium is a good idea. If acl couldn't pay a 14mill loan with wasps and ccfc there, the new fictional stadium with just a beaten ccfc won't be able to pay a much bigger than 14mill loan.

Exactly, which is why including the £14m as part of what wasps are 'paying' is unhelpful.

Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors

Noggin · Nov 15, 2014

stupot07 said:
Exactly, which is why including the £14m as part of what wasps are 'paying' is unhelpful.

Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors

It's not accurate to say Wasps have paid 19m sure, but it also lacks vital information if you don't mention that large presumably secured (14m) liability that ACL has. It's like when companies are sold for a £1, you can't say wow that an amazing deal a pound for all that land and buildings, because it's incredibly misleading if you don't mention the debt that comes along with it.

Wasps have paid 5.77m for ACL which is a company with a large mortgage of 14 mill that will remain in place is probably the fair way to describe it.

If acl were to end up in administration presumably ccc would end up with the ricoh again.

torchomatic · Nov 15, 2014

I had to like that post just because of its breathtaking hypocrisy. You're a fine one to talk about issues and hedge funds

skybluetony176 said:
Has anyone told you that you have issues before?

Nick · Nov 15, 2014

I love how the goal posts move all the time. Things suddenly changed when people found out wasps were owned by a hedge fund, kind of like views on moving teams suddenly changed.

torchomatic · Nov 15, 2014

All the talk around me here is the Wasps thing. The old blokes aren't happy.

Grendel · Nov 15, 2014

torchomatic said:
All the talk around me here is the Wasps thing. The old blokes aren't happy.

At least you now know you are not sitting near Italia.

Sterling Archer · Nov 15, 2014

I can't believe there's a thread that mentions "Malta" and we're not reminiscing about Michael Mifsud's purple patch at the club.

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