I know he didnt get all of it but he clearly has a fair element and was in a consortium of buyers to purchase the club at one point
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I know he didnt get all of it but he clearly has a fair element and was in a consortium of buyers to purchase the club at one point
I think that any administrator would want to continue to realise income streams for the arena. This would give them more time to seek a buyer at the best price possible.
They might slim down the staffing to maximise revenues, so staff in management positions would be reduced as they'll be the most expensive.
I’d guess it’s no different from wasps selling tickets up until the last minute.
End suppliers are always the last to find out. I would bet most companies that have booked exhibitions have been checking they have insurance that covers issues like this.
Exactly. Even if he's worth a few million (which is an outrageous amount of money), he's not going to throw over £100,000 on a pitch that will need replacing.
The changing rooms at Ryton were an investment long term and were nowhere near that figure.
Why do you keep pretending to be itk when you said this right before we announced the game is on?
Wasps going into admin & the impact on CCFC
Can’t see any way Sisu will purchase the lease For why? I don’t either just interested
www.skybluestalk.co.uk
Yes basically boils down to can the arena be run at cashflow-positive...if not then the massive red flag this week from Wasps asking bond holders for more money to keep it going. An administrator with no money has two options. 1. Sell anything it can to get cash to continue operations (unclear if there is anything to sell?) and 2. Move to liquidation.
Well he said in this interview he wants to put money in and not expect a return and I assume here is talking a bit more than a pitch relay
Revealed: Coventry City takeover bid's multi-millionaire backer
He has spoken exclusively to the Telegraph
If you’ve ever dealt with an Administrator you’ll know that the only revenue stream they are interested in is the one that gets the most for them and their connected pals.
No f—s will be given about Bondholders, CCFC, SISU, CCC or anyone else.
It’s a racket and needs to be properly regulated.
No f—s will be given about Bondholders, CCFC, SISU, CCC or anyone else.
It’s a racket and needs to be properly regulated.
Why do you keep pretending to be itk when you said this right before we announced the game is on?
Wasps going into admin & the impact on CCFC
Can’t see any way Sisu will purchase the lease For why? I don’t either just interested
pretending lol. I have many contacts. I knew the team news for Tuesday game at 3pm and posted on here. i was informed Wednesday that Saturday game was in doubt due to staffing issues. Thankfully nothing materialised but no-one has certainties Tuesday will go ahead.
Well he said in this interview he wants to put money in and not expect a return and I assume here is talking a bit more than a pitch relay
Revealed: Coventry City takeover bid's multi-millionaire backer
He has spoken exclusively to the Telegraphwww.coventrytelegraph.net
He's definitely got money, but in terms of Championship finances, it's not mega bucks.
For clarity, the administrators of Wasps Holdings and potential administrators of ACL and ACL 2006 have told the bondholders that, if funding for marketing isn’t forthcoming from bondholders “in short order”, the ACLs are likely to go straight in to liquidations as the objectives of administration would be unachievable.
it wasn’t a couple of posts on Wasps forum and liquidation is (possibly literally) a game changer. It could just be a threat to hurry potential bidders along as, for Sisu as an example, I would imagine it would be far easier operationally to buy as a pre-pack or out of administration than to pick up from liquidation with all current contracts cancelled.
it wasn’t a couple of posts on Wasps forum and liquidation is (possibly literally) a game changer. It could just be a threat to hurry potential bidders along as, for Sisu as an example, I would imagine it would be far easier operationally to buy as a pre-pack or out of administration than to pick up from liquidation with all current contracts cancelled.
Even a lottery winner would be best advised to probably avoid it. The league’s a financial black hole.
@Cityandproud87 as I said. The game Saturday was in serious doubt. It was only yesterday when it was sorted. As backed up by this.
Rarely am I ‘ITK’ but I did hear last Saturday about this weekend’s fixture being in serious doubt.
Wow incredible inside knowledge there. One of my sources told me Gyokeres might play on Saturday, just what I’ve been told mate
We could have said that for most days in the past 20 years.
Lots say about Derby, Birmingham etc. No club, besides Bury, have had anything close to what we've had to deal with. Others have had a difficult few years but found a way out. We've had to deal with this for decades.
no skin of my nose to relay info on here or not. But that’s what the forum is all about isn’t it?
How could they sue if its within their legal right? They would just be makjng sure there freehold asset was operational wouldnt they?
Not sure that a liquidation would be so bad. Might cause some operational delays thought.
The administrator might well be connected to the liquidator but in these cases it’s either one or the other that gets the money.
The administrator, as I’ve said, would want to milk this process as long as is possible. Any income (such as CCFC rent) will end up going straight to them and talk of pence in pound going to bondholders is for the sparrows.
The difference except in Bury’s case is that a white knight always appears, replaces the baddie and sorts things out. We have been stuck with SISU for 15 years and been exiled twice and gone down to the bottom tier. Yet they’re still here.
Still not falling for the points deduction angle. Non of this is the clubs doing. It would be incredibily harsh to deduct us points.
Sensible approach from the club in the circumstances. If something does happen and they hadn't looked into other options I'm sure there wouldn't be plenty of people on here ready to lay into them for not being prepared.
Of course we all know the owners won't fund all this extra expenditure so yet again we will see the budget Robins has to work with affected unless someone like Overson steps in but doubt he's going to keep throwing money at this.
Needs Lucas and her cronies on the radio being questioned. Sure we all remember the 'this deal wouldn't have happened if it would negatively affect CCFC' bollocks she was saying at the time.
He is. He's paid a considerable amount for refurbishments at Ryton and I know he's paid for other things related to club expenses. As Grendel said, his company sold for an 8 figure sum.
Leave politics out of it please. I really don't want to hear about our non Dom status right now.
For a brief moment I thought you said Dom’s statueLeave politics out of it please. I really don't want to hear about our non Dom status right now.
Dom was sold to pay for the new pitch and recover some lost revenue. Additionally, £1 is left over to buy the CBS once liquidated.
Not to start an argument , but I don’t think what he is or isn’t worth is not something we should be discussing on here.
And as he is not the owner or a director, whatever he is worth is his business.
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