rugbyunion
Latest News:

Goto Page: 12Next
Current Page: 1 of 2
Irish consortium takeover
Lincs-Exile (IP Logged)
14 January, 2018 22:33
There is a piece in the Telegraph stating there is an Irish consortium hoping to takeover LI
if this is the case lets hope they can inject some cash to enhance the players we have to keep us up and then kick on from there.

 
Re: Irish consortium takeover
Exile_Dave (IP Logged)
14 January, 2018 22:49
Article here

[www.telegraph.co.uk]



I'd rather be a Paddy then a Quin!!

C'mon the boys in Green!!

 
Re: Irish consortium takeover
GHA (IP Logged)
14 January, 2018 23:28
Hmmmm

 
Re: Irish consortium takeover
Steelman (IP Logged)
15 January, 2018 09:36
Lifeboat or Pirates........just something about those 57 acres of Surrey, can't
quite put my finger on it?!

 
Re: Irish consortium takeover
HMRH (IP Logged)
15 January, 2018 11:24
See how much itís worth and build a stadium and facilities on a smaller site - obvious option unless there is an altruistic alternative

 
Re: Irish consortium takeover
waltham (IP Logged)
15 January, 2018 13:29
Quote:
HMRH
See how much itís worth and build a stadium and facilities on a smaller site - obvious option unless there is an altruistic alternative

"Obvious
" --- Really? I wouldn't have thought so at all given the costs of land, building and then running a stadium...unless Irish would be just one of a multi-tenant/multi-use sports/retail facility...

Given London Welsh's experience with "consortia", I'm nervous about this news.

 
Re: Irish consortium takeover
orsoncart (IP Logged)
15 January, 2018 14:04
i'm sure that Mick Crossan is savvy enough to take approaches from consortia with a fair bit of scepticism around their financial reliability and ability to deliver. I'm also sure that he will not give away 57acres for peanuts!

Unlike Chris Grayling with Carillion, I'm guessing that he will ask the right questions of any would-be purchaser



Edited 1 time(s). Last edit at 15/01/2018 14:04 by orsoncart.

 
Re: Irish consortium takeover
Fanski (IP Logged)
15 January, 2018 14:06
3.5 m for 57 acres in Sunbury seems a steal

 
Re: Irish consortium takeover
FrTed (IP Logged)
15 January, 2018 14:48
What a strange article. The 20% shareowner of LI was aware of the offer but the 70% shareowner was not. This is despite the parties having a meeting at a solicitor's office.


PS As long as they remember Ashley "I shall not leave this club in any worse state than I found it" Levett. £6 million invested and into liquidation Richmond went.

 
Re: Irish consortium takeover
Margin_Walker (IP Logged)
15 January, 2018 14:54
Crossan obviously was aware of it and was likely being a little evasive. Article gone up on the Offie today confirming that a number of enquiries have been made and that Crossan was aware of the one in the Telegraph.

[www.london-irish.com]

 
Re: Irish consortium takeover
HMRH (IP Logged)
15 January, 2018 15:14
Iím notsuggesting itís the right or indeed wrong thing I just meant itís an obvious route to take for anyone following that model

 
Re: Irish consortium takeover
Steelman (IP Logged)
15 January, 2018 15:33
Quote:
Margin_Walker
Crossan obviously was aware of it and was likely being a little evasive. Article gone up on the Offie today confirming that a number of enquiries have been made and that Crossan was aware of the one in the Telegraph.
[www.london-irish.com]

And Dodgy Dom Chappell,a lifelong fan (Sm20) and with more holes in his defence than we have ,is allegedly preparing a bid....

 
Re: Irish consortium takeover
Fanski (IP Logged)
15 January, 2018 16:09
Did not someone else say he was going to be the savior and elevate us to a top Premiership and European club?

Oh yea Mr Crossan!

I just have no faith in consortiums they are always self interested business men looking for an angle and for their own benefit.

 
Re: Irish consortium takeover
Aa545 (IP Logged)
15 January, 2018 17:07
Are there any safeguards in place to stop someone buying the club run it into the ground then sell the training ground for housing etc?

 
Re: Irish consortium takeover
Y Drenewydd (IP Logged)
16 January, 2018 10:38
Hazelwood is on green belt land and joins Sunbury to Halliford.So I very much doubt housing is a short/medium term option.

 
Re: Irish consortium takeover
asteps07 (IP Logged)
16 January, 2018 11:39
My understanding is that hazelwood is owned by the amateur club or a desperate company and is leased to the professional side. Similarities can be drawn to London Welsh whose 25 year shared lease of Richmond cricket ground is owned by the amateur club and was then paid for by the professional side. When the pro side went bust the lease was retained by the amateur side and was not turned into a liquidated asset of the now defunct pro side for the auditors to distrubute.

 
Re: Irish consortium takeover
Shawshank (IP Logged)
16 January, 2018 11:51
Presumably the owners of the old Golf Course at Hazelwood would not have sold the land to LI in the first place if there had been a chance of getting PP for houses there...?

 
Re: Irish consortium takeover
Foggy-Balla (IP Logged)
16 January, 2018 12:22
Quote:
Shawshank
Presumably the owners of the old Golf Course at Hazelwood would not have sold the land to LI in the first place if there had been a chance of getting PP for houses there...?

Racking my brains for the technical name, but when my previous employer bought a parcel of land there was a clause in the contract that allowed the vendors to claim a share of the profit if the land was sold off for any use other than educational open space.



Faugh-a-Ballagh!

"Our prayer is 'God save Ireland' and pour blessings on her name!"

Vestigia Nulla Retrorsum

 
Re: Irish consortium takeover
Narbia (IP Logged)
16 January, 2018 12:53
Quote:
Foggy-Balla
Racking my brains for the technical name, but when my previous employer bought a parcel of land there was a clause in the contract that allowed the vendors to claim a share of the profit if the land was sold off for any use other than educational open space.

I think what you might be referring to is a 'restrictive covenant'. As SS said above, if that weren't to be in place, the previous sale price would have been prohibitive.

 
Re: Irish consortium takeover
Fanski (IP Logged)
16 January, 2018 13:16
"Are there any safeguards in place to stop someone buying the club run it into the ground then sell the training ground for housing etc?"

Fear is that they could buy the club whose only assert is Sunbury. Keep Sunbury and let the playing element go.

If I was an investor I would be very tempted by that.

 
Re: Irish consortium takeover
Shawshank (IP Logged)
16 January, 2018 13:24
Foggy - it's called Overage

 
Re: Irish consortium takeover
Foggy-Balla (IP Logged)
16 January, 2018 15:07
Quote:
Shawshank
Foggy - it's called Overage

Thanks, Shankers, it just came back to me. Logged in to edit my post!



Faugh-a-Ballagh!

"Our prayer is 'God save Ireland' and pour blessings on her name!"

Vestigia Nulla Retrorsum

 
Re: Irish consortium takeover
Jester (IP Logged)
16 January, 2018 21:00
Having been to Hazelwood just the once, if there are new investors perhaps they could put some money into making the place a bit less like Donald Trumps opinion of most foreign countries......

 
Re: Irish consortium takeover
waltham (IP Logged)
16 January, 2018 22:17
It's a complex financial and organisational & financial structure. Hazelwood is a totally separate LLP with 50% nominally owned by LI Holdings which is the umbrella company and itself effectively a subsidiary of Powerday. At the end of the day, it's Mick's c70% which counts. Having said that; the only asset of tangible value is the Hazelwood site. The current owners have loaned very significant sums to keep the club afloat.

 
Re: Irish consortium takeover
GHA (IP Logged)
17 January, 2018 04:33
Such is the way of Irish fans, no-one is hoping for a Toulon / Saracens investment or takeover, everyone instead worries Dick Dastardly is coming in to sell Sunbury for housing grinning smiley

 
Re: Irish consortium takeover
Steelman (IP Logged)
17 January, 2018 08:08
Common phrase....bunch of crooks
Rare phrase......bunch of philanthropists
Mr Crossan is understandably keen to plug a black hole in his finances,He would like to make the right choices but they will be limited ,and time is it the essence.Friends of L Irish rugby are rightly concerned.

 
Re: Irish consortium takeover
Mark W-J (IP Logged)
17 January, 2018 12:25
Quote:
Jester
Having been to Hazelwood just the once, if there are new investors perhaps they could put some money into making the place a bit less like Donald Trumps opinion of most foreign countries......

Are you sure you went to the right place? Purpose-built, state-of-the-art training facility?

 
Re: Irish consortium takeover
Ozzy3213 (IP Logged)
17 January, 2018 12:45
There's a thread on the Worcester nessage board where somebody is claiming that the reported on bid was from a consortium led by Ed Griffiths and Mick Crossan has rejected it.

 
Re: Irish consortium takeover
Jolly Green Giant (IP Logged)
17 January, 2018 14:07
Quote:
Ozzy3213
There's a thread on the Worcester nessage board where somebody is claiming that the reported on bid was from a consortium led by Ed Griffiths and Mick Crossan has rejected it.

I have heard this also and from a reliable source but Gossip is worthless...

 
Re: Irish consortium takeover
Steelman (IP Logged)
17 January, 2018 14:34
Worcesters threads are full of gossip,here say, and opinion; Most commendable !

 
Re: Irish consortium takeover
Jester (IP Logged)
17 January, 2018 14:41
Quote:
Mark W-J
Quote:
Jester
Having been to Hazelwood just the once, if there are new investors perhaps they could put some money into making the place a bit less like Donald Trumps opinion of most foreign countries......

Are you sure you went to the right place? Purpose-built, state-of-the-art training facility?

Nothing wrong with the playing / training facilities, I was commenting more on the soulless clubhouse and non existent atmosphere.

 
Re: Irish consortium takeover
Foggy-Balla (IP Logged)
17 January, 2018 14:47
Quote:
Jester
Quote:
Mark W-J
Quote:
Jester
Having been to Hazelwood just the once, if there are new investors perhaps they could put some money into making the place a bit less like Donald Trumps opinion of most foreign countries......

Are you sure you went to the right place? Purpose-built, state-of-the-art training facility?

Nothing wrong with the playing / training facilities, I was commenting more on the soulless clubhouse and non existent atmosphere.

When did you go there? The same complaint came up at the opening weekend until it was pointed out that none of the Irish memorabilia had come down from The Avenue yet.

We have to remember that to make the building sustainable it needs to be attractive as a hire venue for the vast amount of time it stands otherwise empty when it's not a rugby weekend. You or I might like the aroma of mud, seat & liniment as we sup our drinks; pictures of the tour against Old Felchonians in 1973; and the rotten scrum cap*/torn jockstrap hanging behind the bar but this may not go down so well with the conference/private party crowd.

Oh, and the barmaids have generally been rather attractive & very friendly, not inclined to tell a punter who orders shandy, "this is s Rugby Club not a f***ing cocktail bar!" like a certain gentleman you might know (Sm14)

*This was a genuine artifact int the bar at a Club where I played many years ago!



Faugh-a-Ballagh!

"Our prayer is 'God save Ireland' and pour blessings on her name!"

Vestigia Nulla Retrorsum

 
Re: Irish consortium takeover
RodB (IP Logged)
17 January, 2018 14:49
It is more of a canteen for the players after training than a clubhouse, but then I've never been there for a Geese game, so don't know if that engenders more of a club feel.

 
Re: Irish consortium takeover
Paul_D (IP Logged)
17 January, 2018 15:05
Quote:
Jester

Nothing wrong with the playing / training facilities, I was commenting more on the soulless clubhouse and non existent atmosphere.

You've clearly had a very different experience to me then. I go to Hazelwood to watch the Geese play whenever I can and have always found the place to be absolutely buzzing! As Foggy mentioned, the staff are brilliant. It's not unusual to find Geese players serving behind the bar on Matchdays. (Obviously not the match day squad drinking smiley)

 
Re: Irish consortium takeover
Mark W-J (IP Logged)
17 January, 2018 15:07
Quote:
Jester
Quote:
Mark W-J
Quote:
Jester
Having been to Hazelwood just the once, if there are new investors perhaps they could put some money into making the place a bit less like Donald Trumps opinion of most foreign countries......

Are you sure you went to the right place? Purpose-built, state-of-the-art training facility?

Nothing wrong with the playing / training facilities, I was commenting more on the soulless clubhouse and non existent atmosphere.

Ah, fair enough. The bar does have more of a function room feel than a proper clubhouse - ironically the best atmosphere (and by far the biggest crowd) I've experienced in there was at a funeral.

 
Re: Irish consortium takeover
paddym (IP Logged)
17 January, 2018 16:41
Quote:
Jester
Quote:
Mark W-J
Quote:
Jester
Having been to Hazelwood just the once, if there are new investors perhaps they could put some money into making the place a bit less like Donald Trumps opinion of most foreign countries......

Are you sure you went to the right place? Purpose-built, state-of-the-art training facility?

Nothing wrong with the playing / training facilities, I was commenting more on the soulless clubhouse and non existent atmosphere.

Much like the clubhouse on OBR in Reading?!

 
Re: Irish consortium takeover
Jester (IP Logged)
17 January, 2018 19:37
I can only comment on Hazelwood as I saw it. The clubhouse was devoid of atmosphere. The match I watched was almost silent apart from the away supporters. Getting served at the bar was a nightmare because everyone else seemed to be ordering Guinness which took 25 minutes to pour............. I'm not comparing it with any other club, just giving my opinion. Like it or lump it, I don't give a toss.

 
Re: Irish consortium takeover
paddym (IP Logged)
17 January, 2018 19:58
Quote:
Jester
I can only comment on Hazelwood as I saw it. The clubhouse was devoid of atmosphere. The match I watched was almost silent apart from the away supporters. Getting served at the bar was a nightmare because everyone else seemed to be ordering Guinness which took 25 minutes to pour............. I'm not comparing it with any other club, just giving my opinion. Like it or lump it, I don't give a toss.

Obviously I was at a different game then, great atmosphere around the ground and the 150 people at lunch and the four home teams that day had a great night with BibleCode Sundays playing.

 
Re: Irish consortium takeover
Jester (IP Logged)
17 January, 2018 20:17
Quote:
paddym
Quote:
Jester
I can only comment on Hazelwood as I saw it. The clubhouse was devoid of atmosphere. The match I watched was almost silent apart from the away supporters. Getting served at the bar was a nightmare because everyone else seemed to be ordering Guinness which took 25 minutes to pour............. I'm not comparing it with any other club, just giving my opinion. Like it or lump it, I don't give a toss.

Obviously I was at a different game then, great atmosphere around the ground and the 150 people at lunch and the four home teams that day had a great night with BibleCode Sundays playing.

Yep, different game, 2 "home" sides who conceeded close on 120 points!

 
Re: Irish consortium takeover
paddym (IP Logged)
17 January, 2018 20:31
Quote:
Jester
Quote:
paddym
Quote:
Jester
I can only comment on Hazelwood as I saw it. The clubhouse was devoid of atmosphere. The match I watched was almost silent apart from the away supporters. Getting served at the bar was a nightmare because everyone else seemed to be ordering Guinness which took 25 minutes to pour............. I'm not comparing it with any other club, just giving my opinion. Like it or lump it, I don't give a toss.

Obviously I was at a different game then, great atmosphere around the ground and the 150 people at lunch and the four home teams that day had a great night with BibleCode Sundays playing.

Yep, different game, 2 "home" sides who conceeded close on 120 points!

Not so sure what that has to do with Hazelwood, but crack on anyway.

 
Re: Irish consortium takeover
old school (IP Logged)
17 January, 2018 20:44
Jester - your club are fortunate to have an ambassador such as yourself.

 
Re: Irish consortium takeover
Jester (IP Logged)
17 January, 2018 21:26
Quote:
old school
Jester - your club are fortunate to have an ambassador such as yourself.
Has nothing to do with the club I follow, just my opinion, used to love visiting the old ground.

& PaddyM, I was commenting on the lack of atmosphere at Hazelwood, so it has everything to do with that.

 
Re: Irish consortium takeover
Paul_D (IP Logged)
17 January, 2018 21:45
Quote:
Jester
I was commenting on the lack of atmosphere at Hazelwood, so it has everything to do with that.

By your own admission based on one visit a long time ago.
Your opinion appears to be in a minority of one.

Back on topic.......
Iím really pleased to read that Mick has rejected the 3.5m take over attempt and has publicly stated that heís here for the long term. We owe him a huge debt of gratitude. Without him our club would not have survived. Heís ploughed 14 million of his own money into the club. Thatís absolutely astonishing commitment.

 
Re: Irish consortium takeover
PV (IP Logged)
18 January, 2018 08:00
It is indeed, we need a longer term sustainable model though.

 
Re: Irish consortium takeover
Saz's old man (IP Logged)
18 January, 2018 08:01
[quote paddym][quote Jester][quote Mark W-J][quote Jester]Having been to Hazelwood just the once, if there are new investors perhaps they could put some money into making the place a bit less like Donald Trumps opinion of most foreign countries......[/quote]

Are you sure you went to the right place? Purpose-built, state-of-the-art training facility?[/quote]

Nothing wrong with the playing / training facilities, I was commenting more on the soulless clubhouse and non existent atmosphere.[/quote]

Much like the clubhouse on OBR in Reading?![/quote

If you don't like the clubhouse on OBR, feel free not to attend....
Maybe N2S rugby is not for you, you could try the golf course around the corner...

 
Re: Irish consortium takeover
HMRH (IP Logged)
18 January, 2018 08:29
We need more money - end.

Clubhouse discussions a bit like discussing which deckchair should go where on the Titanic

 
Re: Irish consortium takeover
Foggy-Balla (IP Logged)
18 January, 2018 08:30
To be fair to Jester (who is a mate, & with whom I was having banter) I can see his point. I have along association with Readingensians having played agaisnt them at mini-Rugby level up to using their facilities to play Touch every week some seasons back. The clubhouse is a proper old Rugby space, & I've always felt welcome there despite a barman who would have fitted in during Norman's tenure at the Coach & Horses in London (Sm14)

Must admit I never saw the inner sanctum members' bar. As an adult it always seemed to be full of a local scooter gang...



Faugh-a-Ballagh!

"Our prayer is 'God save Ireland' and pour blessings on her name!"

Vestigia Nulla Retrorsum

 
Re: Irish consortium takeover
Foggy-Balla (IP Logged)
18 January, 2018 08:36
Quote:
HMRH
We need more money - end.
Clubhouse discussions a bit like discussing which deckchair should go where on the Titanic

Any corn fields near Brentford? If we build it they will come (Sm14)



Faugh-a-Ballagh!

"Our prayer is 'God save Ireland' and pour blessings on her name!"

Vestigia Nulla Retrorsum

 
Re: Irish consortium takeover
Paul_D (IP Logged)
18 January, 2018 08:48
Quote:
HMRH
We need more money - end.

Indeed. The Telegraph and Irish World articles do suggest that Mick is in discussion with potential investors so lets hope for some good news on that front sooner rather than later.

 
Re: Irish consortium takeover
Bazzo (IP Logged)
18 January, 2018 08:57
Quote:
Paul_D
Quote:
Jester
I was commenting on the lack of atmosphere at Hazelwood, so it has everything to do with that.

By your own admission based on one visit a long time ago.
Your opinion appears to be in a minority of one.

Back on topic.......
Iím really pleased to read that Mick has rejected the 3.5m take over attempt and has publicly stated that heís here for the long term. We owe him a huge debt of gratitude. Without him our club would not have survived. Heís ploughed 14 million of his own money into the club. Thatís absolutely astonishing commitment.

It sure is great commitment and he deserves huge credit for it, but what has he got for it in terms of watching the team? we still lose way more than we win. It needs serious money to fund a top team in the professional era, and to fund a stadium purchase/move on top of that would be even more draining. I do not see anything attractive about owning a premiership rugby club. Why would anyone want to give money to this business? not just us, rugby as a whole, it is a poor proposition and investment

 
Re: Irish consortium takeover
LI Bohemian (IP Logged)
18 January, 2018 10:59
Quote:
Bazzo
Quote:
Paul_D
Quote:
Jester
I was commenting on the lack of atmosphere at Hazelwood, so it has everything to do with that.

By your own admission based on one visit a long time ago.
Your opinion appears to be in a minority of one.


Back on topic.......
Iím really pleased to read that Mick has rejected the 3.5m take over attempt and has publicly stated that heís here for the long term. We owe him a huge debt of gratitude. Without him our club would not have survived. Heís ploughed 14 million of his own money into the club. Thatís absolutely astonishing commitment.

It sure is great commitment and he deserves huge credit for it, but what has he got for it in terms of watching the team? we still lose way more than we win. It needs serious money to fund a top team in the professional era, and to fund a stadium purchase/move on top of that would be even more draining. I do not see anything attractive about owning a premiership rugby club. Why would anyone want to give money to this business? not just us, rugby as a whole, it is a poor proposition and investment

I'm sure this is what used to be said about football teams and now most big investors want to throw money at them, what do they know? also if a guy has made a lot of bucks, it's up to him what he spends it on, I can't judge if it's right or wrong but it wins my approval of him.
He could just spend it on a few gold and diamond mobile phones and a couple of super cars that collect dust in a garage somewhere.



Bohemiansingles@yahoo.com
631-563-9892

 
Re: Irish consortium takeover
Jester (IP Logged)
18 January, 2018 11:11
[quote Paul_D][quote Jester] I was commenting on the lack of atmosphere at Hazelwood, so it has everything to do with that.[/quote]

By your own admission based on one visit a long time ago.
Your opinion appears to be in a minority of one.

Yeah Paul, it was ages ago....... a whole 4 weeks (Sm108)

 
Re: Irish consortium takeover
Foggy-Balla (IP Logged)
18 January, 2018 12:44
[quote LI Bohemian][quote Bazzo]I'm sure this is what used to be said about football teams and now most big investors want to throw money at them, what do they know? also if a guy has made a lot of bucks, it's up to him what he spends it on, I can't judge if it's right or wrong but it wins my approval of him.
He could just spend it on a few gold and diamond mobile phones and a couple of super cars that collect dust in a garage somewhere.[/quote]

Must admit that I did once say to Herself that if I won one of those silly Euromillions jackpots I'd probably give an awful lot of it to the Club. the interest on the interest on one of those would be more than I would realistically want or need.

Better start buying tickets, I guess!



Faugh-a-Ballagh!

"Our prayer is 'God save Ireland' and pour blessings on her name!"

Vestigia Nulla Retrorsum

 
Re: Irish consortium takeover
18 January, 2018 13:23
If you had £3.5m that you would like to invest on something hoping for a return on investment would you chose London Irish? I certainly wouldn't.

 
Re: Irish consortium takeover
LI Bohemian (IP Logged)
18 January, 2018 13:29
[quote Jester][quote Paul_D][quote Jester] I was commenting on the lack of atmosphere at Hazelwood, so it has everything to do with that.[/quote]

By your own admission based on one visit a long time ago.
Your opinion appears to be in a minority of one.

Yeah Paul, it was ages ago....... a whole 4 weeks (Sm108)[/quote]

In 1985 i went to the Glastonbury CND music Festival, it rained all weekend and was voted the weakest line up in the history of the festival, i vowed that i will never return and knew it would never catch on, with its demise imminent. More atmosphere on the moon than Glasto!

 
Re: Irish consortium takeover
Foggy-Balla (IP Logged)
18 January, 2018 14:14
Quote:
Props are not stupid
If you had £3.5m that you would like to invest on something hoping for a return on investment would you chose London Irish? I certainly wouldn't.

If I won the Euromillions I wouldn't be looking for a return on investment. I might be looking for the introduction of a butler to the East, though!



Faugh-a-Ballagh!

"Our prayer is 'God save Ireland' and pour blessings on her name!"

Vestigia Nulla Retrorsum

 
Re: Irish consortium takeover
orsoncart (IP Logged)
18 January, 2018 15:11
Quote:
Props are not stupid
If you had £3.5m that you would like to invest on something hoping for a return on investment would you chose London Irish? I certainly wouldn't.

If there was a possible long term upside from the development profit on 50+ acres I might

 
Re: Irish consortium takeover
HMRH (IP Logged)
18 January, 2018 20:55
IF the stories about Worcester are true the Griffiths deal fell through as the ground was not part of the deal.

 
Re: Irish consortium takeover
19 January, 2018 15:43
Did Ed Griffiths make any money with Sarries?

 
Re: Irish consortium takeover
Aa545 (IP Logged)
19 January, 2018 17:30
Quote:
HMRH
IF the stories about Worcester are true the Griffiths deal fell through as the ground was not part of the deal.
We donít own a ground.

 
Re: Irish consortium takeover
HMRH (IP Logged)
19 January, 2018 17:58
for the sake of the debate Iíd equate Hazelwood with a ground

 
Re: Irish consortium takeover
waltham (IP Logged)
19 January, 2018 22:36
Quote:
HMRH
for the sake of the debate Iíd equate Hazelwood with a ground

For the sake of debate, we can't equate the two at all...

 
Re: Irish consortium takeover
glensman (IP Logged)
20 January, 2018 04:01
SALEABLE?.

Mick Crossan will want his money back.By the end of this Season, the accumulated loss on his investment since 2012 will be the thick end of GBP 25 million.

Who will pay this sort of money, and the rest, to take over a Club that, in all probability, will be relegated at the end of this Season?,unless.......planning permission is given for 1000's of "affordable housing" units to be built at Hazelwood.[It's a lot easier to obtain planning consent for this type of development I'm told].

 
Re: Irish consortium takeover
HMRH (IP Logged)
20 January, 2018 07:17
Not trying to be provocative- Iím just wondering where the upside might be investment wise. As a friend has already pointed out to me there are far easier property deals out there without buying a rugby club.

I was speculating on parallels between the bids based on speculation

 
Re: Irish consortium takeover
Aa545 (IP Logged)
20 January, 2018 07:49
HMHR.
Are you saying the club is up for sale but Hazlewood isnít included?
Not much hope for us if thatís the case.



Edited 1 time(s). Last edit at 20/01/2018 09:43 by Aa545.

 
Re: Irish consortium takeover
HMRH (IP Logged)
20 January, 2018 09:17
Whoa - I'm saying nothing of the sort - I know nothing more than the papers and the board. I have no idea - I was just saying that I would have thought any sale would include Hazelwood
as that's the major asset the club holds - along with value of Premiership shares etc

Dangerous game this speculating on message boards

 
Re: Irish consortium takeover
Aa545 (IP Logged)
20 January, 2018 09:44
Ok, have my conspiracy head on and was fearing the worst.

 
Re: Irish consortium takeover
HMRH (IP Logged)
20 January, 2018 11:01
ďThe nature of conspiracy, which among those who both feared and named it, seemed to always possess at its core a misguided belief in the competence of others, as weighed against the incapacities, real or imagined, of the believer. Therefore, he concluded, the belief in conspiracy was an announcement of the believer's own sense of utter helplessness in the face of forces both mysterious and fatally efficient.Ē
― Steven Erikson, Fall of Light

 
Re: Irish consortium takeover
Steelman (IP Logged)
20 January, 2018 11:56
Quote:
HMRH
ďThe nature of conspiracy, which among those who both feared and named it, seemed to always possess at its core a misguided belief in the competence of others, as weighed against the incapacities, real or imagined, of the believer. Therefore, he concluded, the belief in conspiracy was an announcement of the believer's own sense of utter helplessness in the face of forces both mysterious and fatally efficient.Ē
― Steven Erikson, Fall of Light



So should we be worried? (Sm60)

 
Re: Irish consortium takeover
Florida (IP Logged)
20 January, 2018 11:59
Quote:
HMRH
ďThe nature of conspiracy, which among those who both feared and named it, seemed to always possess at its core a misguided belief in the competence of others, as weighed against the incapacities, real or imagined, of the believer. Therefore, he concluded, the belief in conspiracy was an announcement of the believer's own sense of utter helplessness in the face of forces both mysterious and fatally efficient.Ē
― Steven Erikson, Fall of Light

Still haven't gotten round to reading forge of darkness!

 
Re: Irish consortium takeover
waltham (IP Logged)
20 January, 2018 15:38
Quote:
HMRH
Dangerous game this speculating on message boards
Yes, but isn't it fun!! :-)

 
Re: Irish consortium takeover
The Sligo Rover (IP Logged)
20 January, 2018 22:02
I may be wrong, but, I always understood it that the Professional Club were run as a completely separate entity from Hazlewood and the Amateur set up.

 
Re: Irish consortium takeover
waltham (IP Logged)
21 January, 2018 07:34
Quote:
The Sligo Rover
I may be wrong, but, I always understood it that the Professional Club were run as a completely separate entity from Hazlewood and the Amateur set up.

Not exactly. There's a somewhat complex structure but in essence; Hazelwood is a separate LLC but in effect it's owned ultimately by Powerday and the consortium via LI Holdings. The amateur club is a separate legal entity sharing the facilities.

 
Re: Irish consortium takeover
Mark W-J (IP Logged)
21 January, 2018 16:05
Apparently (and I'm quoting someone on another forum who has done the research) London Irish Holdings accounts value Hazelwood at £12m. So I would be very surprised if it's included in a deal to sell the on-going operation for just £3.5m.

 
Re: Irish consortium takeover
Johnswlondon (IP Logged)
22 January, 2018 09:20
The thing is you cant build on Hazlewood as its an old landfill site before there were any controls on what went in them so the cost of essentially digging it out and replacing before then building would be ridiculous so that wont happen so the value of the land is @#$%& all in comparison to the old sunbury ground

 
Re: Irish consortium takeover
norg2072 (IP Logged)
22 January, 2018 18:31
There is an article in yesterdays Sunday Business Post about some sort of new offer received by the club last week, does anyone have a subscription and can post the highlights?

 
Re: Irish consortium takeover
Exile_Dave (IP Logged)
22 January, 2018 19:56
Quote:
norg2072
There is an article in yesterdays Sunday Business Post about some sort of new offer received by the club last week, does anyone have a subscription and can post the highlights?

Removed apologies.



I'd rather be a Paddy then a Quin!!

C'mon the boys in Green!!



Edited 2 time(s). Last edit at 22/01/2018 20:23 by Exile_Dave.

 
Re: Irish consortium takeover
Florida (IP Logged)
22 January, 2018 20:00
I would suggest taking down the copy and paste as you can't be posting it here. After that those that don't have access you can sign up and not subscribe, you should then get an email offering 24 hour access

 
Re: Irish consortium takeover
GHA (IP Logged)
22 January, 2018 21:50
Internet police strike again sad smiley

 
Re: Irish consortium takeover
Florida (IP Logged)
22 January, 2018 21:57
Quote:
GHA
Internet police strike again sad smiley

Unfortunately thems the rules and it's better if we self police a little than get our admin / moderator in hot water.

 
Re: Irish consortium takeover
GHA (IP Logged)
22 January, 2018 22:26
Quote:
Florida
Quote:
GHA
Internet police strike again sad smiley

Unfortunately thems the rules and it's better if we self police a little than get our admin / moderator in hot water.

Or we could live dangerously and see what [never] happens

 
Re: Irish consortium takeover
norg2072 (IP Logged)
22 January, 2018 22:27
I had only asked for someone to post the highlights of the article, if itís interesting I guess it will appear elsewhere!

 
Re: Irish consortium takeover
Florida (IP Logged)
22 January, 2018 22:36
Quote:
GHA
Quote:
Florida
Quote:
GHA
Internet police strike again sad smiley

Unfortunately thems the rules and it's better if we self police a little than get our admin / moderator in hot water.

Or we could live dangerously and see what [never] happens

So you'd rather potentially put an additional my burden on someone that moderates this site in their free time rather than spending 5 minutes of your time signing up for a 24 hour pass?

Anyway, as was mentioned by norg, there's an article in the business post. It needs a subscription, but if you register and then don't subscribe you'll likely receive an email offering free 24 hour access, which should give you the time to read the article.



Edited 1 time(s). Last edit at 22/01/2018 22:48 by Florida.

 
Re: Irish consortium takeover
norg2072 (IP Logged)
22 January, 2018 23:26
If the key points had simply been posted it would have avoided this conversation, and 24hr access is not worth £2.40, so Iíll wait

 
Re: Irish consortium takeover
Florida (IP Logged)
22 January, 2018 23:31
Quote:
norg2072
If the key points had simply been posted it would have avoided this conversation, and 24hr access is not worth £2.40, so Iíll wait

Apologies, hadn't realised they were charging £2.40 for it.

 
Re: Irish consortium takeover
LI Bohemian (IP Logged)
22 January, 2018 23:56
Quote:
GHA
Quote:
Florida
Quote:
GHA
Internet police strike again sad smiley

Unfortunately thems the rules and it's better if we self police a little than get our admin / moderator in hot water.

Or we could live dangerously and see what [never] happens

You know, I think I'm a part time troll as well, what an idiot I've been. The horror, the horror!



Bohemiansingles@yahoo.com
631-563-9892

 
Re: Irish consortium takeover
Paul_D (IP Logged)
23 January, 2018 08:18
Here's a summary of the article:

An intermediary contacted London Irish rugby club last week with an offer of £3.6m which a consortium involving three wealthy Irish business people thought the Exiles could not refuse.

There were a number of reasons the offer was rejected by Mick, but the price was a non starter.ďThe figure was way below anything we would considerĒ.

ďWe have a number of other investors who weíre talking to, and we feel we have enough opportunities to take our time and get the right investors who have the passion and commitment to be the best partners for the club.Ē

There's speculation that the offer came from a consortium led by Ed Griffiths.

Phil Cussack resigned as a director last year.

Chairman Frank McCartney has also stepped down. Nick Kennedy in place as acting chair for now.

Dubliner Jonathan Turner, a partner at the Mayfair boutique investment house Bowline Capital has come on board to help the club engage with interested parties on investment opportunities.

We badly need an investment of at least £10 million over the next three years, but ideally closer to £15 million for the next five years.

We'd love to have more Irish players on the books. We've had discussions with the IRFU but their policy is to keep home grown players at home.

We need to find a new playing home for next year (not sure that is accurate, but that's what it says). Brentford isn't our only option.

We're debt free and not losing money. As a club we're in a good place.

We got ourselves in a really difficult position with relegation. Getting relegated even for a year meant a weaker squad and recruitment problems and what's needed is a lot of money so we can pay premiership rates for the best players.

 
Re: Irish consortium takeover
GHA (IP Logged)
23 January, 2018 08:50
Thanks Paul

 
Re: Irish consortium takeover
waltham (IP Logged)
23 January, 2018 08:59
Interesting that the Biz Post article quotes LI as claiming not to be losing money yet today's Times reckons the loss is c£2.5 mio annually.

 
Re: Irish consortium takeover
Ozzy3213 (IP Logged)
23 January, 2018 11:55
Quote:
waltham
Interesting that the Biz Post article quotes LI as claiming not to be losing money yet today's Times reckons the loss is c£2.5 mio annually.

My understanding is that the club is not losing money as it's coming out of Mick's pockets, so effectively Mick is losing money but the club isn't.

 
Re: Irish consortium takeover
HMRH (IP Logged)
23 January, 2018 12:01
I donít think we HAVE to find a new ground next year but thatís what we want to do is the tone of the article

ďWant to re-establish themselves as a London club by moving from ... ReadingĒ

 
Re: Irish consortium takeover
glensman (IP Logged)
23 January, 2018 13:10
FAKE NEWS aka ALTERNATIVE FACTS.

Business Post, Mick Crossan CEO.

"We are debt free and not losing money".

By the end of this Season the accumulated loss since 2012 will be in the region of GBP 25 million.

"As a Club we are in a good place"

Yeah right,facing almost certain relegation.

This stuff is straight out of Monty Python,or"Yes Minister",for those of a certain vintage.

 
Re: Irish consortium takeover
GHA (IP Logged)
23 January, 2018 15:08
Maybe he's trying to polish the situation for potential investors

Just like when we sign injury-prone castaways and pretend they were their previous club's player of the year mere seasons earlier

Fingers crossed, anyway

 
Re: Irish consortium takeover
23 January, 2018 16:41
We are obviously losing money by the bucketload and in the sport side we have a 90% chance of getting relegated. There is a possibility that we may not be able to come back up if the premiership doors are locked while we are down. We are not in a very good place and any offers of investment will be ridiculously low. Just imagine Mr Crossan going to Dragon's Den asking for an investment, he would be shown the door pretty quick.

Apologies for being so negative, but I don't see a solution unless we avoid the drop for a few years in a row.

 
Re: Irish consortium takeover
Margin_Walker (IP Logged)
23 January, 2018 16:55
I really can't see us being ringfenced out of a 12 team league whilst we have the prem shares.

More likely scenario for me would be us running out of money and selling the shares at some point down the line.

 
Re: Irish consortium takeover
HMRH (IP Logged)
24 January, 2018 10:50
Injury prone castaways - who is/are those this season or last?

 
Re: Irish consortium takeover
jimbo800 (IP Logged)
24 January, 2018 11:22
Surely our minimum value is the value of the shares, more than the 3.5mil being talked about. The RFU have no interest in keeping the Exiles teams anywhere near th prem. welsh have gone, Scottish wonít get close and theyíre happy to see the back of Irish, even though weíve produced plenty English talent over the years. Itís little wonder any of our England players left. I may be paranoid but Iím sure the RFU set up have put word out to players that to ensure their England careers they need to play elsewhere.

 
Re: Irish consortium takeover
glensman (IP Logged)
24 January, 2018 11:56
Jimbo,

I have been saying this since the Premiership was created, Exile Clubs have no place in the Premiership and the RFU will do all in it's power to remove them from the top tier, without being seen to be biased of course.The Scots and Welsh have gone, we will probably be next,ring-fencing could come into effect if/when we go down at the end of this Season.This is NOT paranoia, it's a fact of life.

 
Re: Irish consortium takeover
DrV'sHairyCraic (IP Logged)
24 January, 2018 13:24
Quote:
glensman
Jimbo,
I have been saying this since the Premiership was created, Exile Clubs have no place in the Premiership and the RFU will do all in it's power to remove them from the top tier, without being seen to be biased of course.The Scots and Welsh have gone, we will probably be next,ring-fencing could come into effect if/when we go down at the end of this Season.This is NOT paranoia, it's a fact of life.

NOT paranoia? I think you & Jimbo need to find a dictionary.

Unfortunately, professional rugby is still in a start up stage having been badly led by amateurs in the transition phase to professionalism.

Like many teams, London Scottish & London Welsh couldn't make the transition due to lack of finances. London Welsh were the masters of their own downfall when they won promotion as they were in absolutely no position to enter the top flight.

We are where we are purely based on our financial position.

Unfortunately for us, our brand both makes and brakes us. We will have problems finding major investors that do not have any Irish heritage which is very limiting. We are competing against the provinces, GAA, horse racing, etc and sit quite a way down the list.

Unless the Premiership is ringfenced which will give us long term stability, It's hard to see anyone wanting to give us the financial support we need.

 
Re: Irish consortium takeover
jhnnyi (IP Logged)
24 January, 2018 13:29
Why can't we just move to the Pro14, as the London franchise? Has that ever been properly explored?

Goto Page: 12Next
Current Page: 1 of 2

Sorry, only registered users may post in this forum.
We record all IP addresses on the Sportnetwork message boards which may be required by the authorities in case of defamatory or abusive comment. We seek to monitor the Message Boards at regular intervals. We do not associate Sportnetwork with any of the comments and do not take responsibility for any statements or opinions expressed on the Message Boards. If you have any cause for concern over any material posted here please let us know as soon as possible by e-mailing abuse@sportnetwork.net
 
 

Who is online?

Total users online:  

Most users online:  

Users on this site:  

Where are they?