J
Do you answer every question with a question?
Was the short answer yes
Why do you think Wasps have a 250 year lease?
When people post wasps that also incorporates ACL, when we say SISU we mean Otium Entertainment Group, when we say own the stadium it means owning the lease to operate, not the actual stadium. It gets confusing enough, please don't add to the confusion.
Cheers, you correctly spotted I backed up my statement with evidence, whereas Nick & Grendel just made something up to deflect attention from the facts, LOL
So, if the lender is CCC, they will have a charge over the 250 year lease. If Wasps default, the lease reverts to CCC - is that correct?
Ignorance only adds to the confusion. Hence why I decided to point out that Les Reid knew nothing other than what he was fed by Sisu.
It will show loan payments - I don't see why it would show who the lender is .
Doubt it. ACL will have the payments to make not wasps and if they go into administration then it goes to the administrator to find a buyer who could do a deal to reduce the loan. The Coventry taxpayer may be exposed here. I hope I'm wrong and they are not.
Cheers, you correctly spotted I backed up my statement with evidence, whereas Nick & Grendel just made something up to deflect attention from the facts, LOL
Er....it was you who said wasps have taken over the loan - and yet seem to be struggling to provide any a evidence they have or the reduced payment period.
The security is only as good as the value of the asset - so is the lease worth £20m ?
Why £20m?
£14.4M loan and £5.8M purchase price.
No, he's suggesting the security needs to be £20m.
No, he's suggesting the security needs to be £20m.
Well I'm suggesting the purchase price is probably about the value of the lease, that accords roughly with the valuation stated in the JR provided there was an anchor tenant.
They are paying 20m for the lease ( taking over the loan is part of the price ). The security is in effect the lease. If ACL default, CCC get the lease - or the administrator finds someone to take it over and keep up the payments ( CCC will have to have a veto on that though ).
That nobody seems to actually know 100% as it was all done in private. I am not saying that the full loan hasn't just been passed over, but nothing is that simple is it?
Isn't it?
Seriously. What reason do you have to think that the loan has magicaly disapeared?
Because Tim said so and he only speaks Gospel.
And they say people creamed over Haskill..
I haven't said it has, just that we don't know what happened with itIsn't it?
Seriously. What reason do you have to think that the loan has magicaly disapeared?
I haven't said it has, just that we don't know what happened with it
Do we need to know? Is there any reason we should be intetested in knowing? Its not like its the golden share is it?
The golden share, aaaaah the memories. What fun we all had hunting high and low for the little fella. I wonder where it is these days?
Or I'm watching the England egg-chasing. Again, you've tried to change the debate.
Nick keeps harping on about SISU's offer being 'the same'. It's not. Their offer was conditional on getting the YB loan at a very low value. That's clearly evidenced in the JR papers, isn't it?
Do you have any evidence whatsoever that Wasps took over the loan at any less than face value? Any at all?
Are you actually happy that Wasps will be playing at the Ricoh? Genuine question.
Also to those who seem to want Wasps to take us over, would you be happy if they were to relocate CCFC with them if the Ricoh 'dream' didn't work out?
Are you actually happy that Wasps will be playing at the Ricoh? Genuine question.
Also to those who seem to want Wasps to take us over, would you be happy if they were to relocate CCFC with them if the Ricoh 'dream' didn't work out?
Nobody seems to have yet come up with a reason why ACL had to be sold off to anybody yet.
Particularly for what seems such a low price.
Er....it was you who said wasps have taken over the loan - and yet seem to be struggling to provide any a evidence they have or the reduced payment period.
The deal also included the club taking on the remainder of a £14.4million loan made in January 2013 from Coventry City Council to ACL.
As part of the £20 million deal the council and the charity will receive £2.77 million while Wasps will also take on the company’s £14.4 million loan from the council.
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!
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