So much of the deal is public knowledge you have to wonder why people continue to spout rubbish on here.
http://www.coventrytelegraph.net/news/coventry-news/wasps-rfc-accounts-reveal-63m-8720201
Isn't that CT piece about the accounts before they took over ACL? How does that show they paid £1m off the loan or is it CT guesswork? Is there anything from the council that actually confirms the change of terms to the loan and any down payment?
The latest accounts cover the period before Wasps took control of Ricoh Arena operating company for a total of £5.54million in November. As part of that deal, Wasps made an initial £1million down payment on a £14.4million loan to ACL from Coventry City Council.
Seems quite clear?
Still CT guesswork, "commercial confidentiality" and all that.
Seems quite clear?
Very true. Knowledge helps. But many on here profess knowledge but clearly have none.
Not really, any enquiries about anything to do with the deal are met with 'confidential'. If you look at that CT piece that's not a quote so where have CT sourced that information from, its certainly not been made public by CCC.
And of course if that £1m was not, as some guessed, a payment for the additional 200 years on the lease what has been paid for that, surely its not been handed over for free or a peppercorn rent?
So it was given for free? What PR statement will it be?
I suspect that we might find out soon whether Les Reid was correct that the Council wrote off £1m of the facility granted to ACL or if he was correct that an extension of the lease over the Ricoh was given at no cost.
If I was a betting man, then I suspect that Les might look a bit stupid.
If you are truly 'In the Know' surely you know whether Les Reid will look stupid or not, as surely writing 'might' undermines the conviction of what you have written?
Poor old Les.
Poor old Les.
Poor old Les.
If you are truly 'In the Know' surely you know whether Les Reid will look stupid or not, as surely writing 'might' undermines the conviction of what you have written?
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