Wasps new deal with Compass

Discussion in 'Wasps' started by Jack Griffin, Jul 1, 2015.

  1. skybluetony176

    skybluetony176 Well-Known Member

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    SISU should have made an offer for the councils share at the same time then.
     
  2. chiefdave

    chiefdave Well-Known Member

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    If you're referencing what I think you are referencing then you are talking about SISU's negotiations with Higgs not CCC. SISU proposed purchasing Higgs share of ACL and as part of that deal the lease would be extended to 125 years which would have needed the approval of CCC. They entered into a period of exclusivity with Higgs however when they tried to extend the exclusivity period Higgs refused.

    In the judicial review Justice Hickinbottom referred to this deal and stated there was"no possible way the council would be willing to agree a transaction with Sisu"
     
  3. Grendel

    Grendel Well-Known Member

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    Rubbish - they always were interested in 100% or not at all. L

    Chief Dave has smashed you out of court in this debate - why keep coming back for more?
     
  4. Grendel

    Grendel Well-Known Member

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    The council had already stated they would never sell to the club their share.
     
  5. skybluetony176

    skybluetony176 Well-Known Member

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    But you admit that SISU new that the length of the lease was negotiable? Unlike what you were saying earlier?
     
  6. Grendel

    Grendel Well-Known Member

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    Can you read Tony?
     
  7. skybluetony176

    skybluetony176 Well-Known Member

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    Was this before or after they publicly announced that they would listen to ANY serious offer for the Ricoh and then got on the train to meet Joy at SISU HQ in person?
     
  8. Grendel

    Grendel Well-Known Member

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    They publically announced they were building bridges with the club before perhaps selling the Ricoh - having already sold it to Wasps.
     
  9. skybluetony176

    skybluetony176 Well-Known Member

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    Yes. Can you. Dave said earlier in this thread that CCC should have informed SISU that the length of the lease could be extended. It seems SISU were already aware of this fact having previously negotiated an extension on the lease.
     
  10. chiefdave

    chiefdave Well-Known Member

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    Read it again, CCC never agreed to extend the lease to 125 years and Justice Hickinbottom stated there was "no possible way the council would be willing to agree a transaction with Sisu".

    And of course even if SISU were 100% convinced a 200 year lease was available despite there never having been a single mention of it or even the slightest indication it was you still have the issue of sale price. Given that SISU were quoted £24m for matchday F&B access what would lead them to believe purchasing the whole of ACL with the lease quadrupled would cost £5.5m?

    I would suggest that any such offer from SISU would have been dismissed out of hand, and once made public SISU would have been slaughtered for attempting to rip off the local taxpayer and a childrens charity.
     
  11. chiefdave

    chiefdave Well-Known Member

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    Can you show where in that post it says that CCC offered SISU the same terms they eventually sold ACL to Wasps under?
     
  12. skybluetony176

    skybluetony176 Well-Known Member

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    Which only confirms that should you have an appetite to do a deal for the Ricoh it was there to be done.

    How did Joy follow up Ann's visit to SISU HQ over six months prior to the Wasps deal being completed?
     
  13. chiefdave

    chiefdave Well-Known Member

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    No it doesn't, the only thing it confirms is that the council are incapable of being straight up and truthful where this matter is concerned.
     
  14. skybluetony176

    skybluetony176 Well-Known Member

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    Let's not go around in circles with this again Dave in your imagination land (remember stay away from the Christmas Critters).

    SISU knew that the length of the lease was negotiable. It's down to SISU to get the deal done, no one else. Perhaps if they weren't so distracted in the pointless JR they might have realised now was the time to come to the table. Why didn't they?
     
  15. NorthernWisdom

    NorthernWisdom Well-Known Member

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    /sighs for 10 characters
     
  16. chiefdave

    chiefdave Well-Known Member

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    I have never known anyone so determined to stick to there view that they will ignore every single fact presented as you Tony, guess I should congratulate you for that at least.
     
  17. skybluetony176

    skybluetony176 Well-Known Member

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    Again. You're really struggling with this. The JR deal's with what happened up until the point that the council bailed out ACL with the YB loan. The JR is about a very specific timescale and a very specific set of events. I'm talking about what's happening/happened after that set timescale and set of events.

    The public statement inviting ANY serious offer for the Ricoh came AFTER this timescale as did the subsequent trip to meet Joy at SISU HQ.

    I'll say that again. The public statement inviting ANY serious offer came AFTER the timescale set out in the JR.

    Things do change Dave. There was a time we were never coming back to the Ricoh remember.
     
    Last edited: Jul 4, 2015
  18. skybluetony176

    skybluetony176 Well-Known Member

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    Likewise.
     
  19. skybluetony176

    skybluetony176 Well-Known Member

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    Yeah and SISU stated that the club would never return to the Ricoh but back at the Ricoh we are. Things change. Accept it.

    I do hope you and Dave didn't stop paying attention in history lessons when learning about WW2 at the point when we evacuated the beaches at Dunkirk otherwise you'd be thinking that the Nazis won the war. You need to start paying attention to what happened after the events and time period covered in the JR.
     
  20. Rusty Trombone

    Rusty Trombone Well-Known Member

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    Yes. How could the lease be extended for only part of ACL?
     
  21. Rusty Trombone

    Rusty Trombone Well-Known Member

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    Draft Heads of Terms were
    indeed signed by the Council and SISU, on 2 August 2012. Those more or less
    reiterated the principles of the SISU plan I have already outlined, i.e. (i) SISU would
    purchase the Higgs Charity’s share of ACL, (ii)SISU would discharge and write off
    the Bank loan debt, in return for the lease to ACL being extended to 125 years, and
    (iii) rent was to be agreed between CCFC and ACL.

    To be clear then, the Council and SISU signed the draft terms to extend the lease. SISU were definitely aware that the lease could be extended.
     

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