Terry Gibson's perm
Well-Known Member
Must be more difficult to find somebody to pay for it than they thought
Academy to stay at Higgs (1 Viewer)
- Thread starter Nick
- Start date
The reason it's been delayed is simple. Wasps financial situation is making them re think there strategies moving forward. They simply do not have £7m to plough into another piece of real estate when they are financially on the brink of snapping following the purchase of the Ricoh arena. The priority is to attempt to pay back the bonds and believe me that will not happen!
I seeing Wasps heading for financial ruin in the next couple of years.
letsallsingtogether
Well-Known Member
Good.
So owning the Ricoh is not the cash cow some make it out to be.
Terry Gibson's perm
Well-Known Member
Italia where are you the nasty boys are saying bad things about your heroes
chiefdave
Well-Known Member
How much of the cost of the rugby facilities will get moved over to the pool that CCC are paying for? The plans for that already had rugby facilities in it, a bit unusual for a swimming pool.
Liquid Gold
Well-Known Member
Owning it might be great, it's just paying for it in the first place that has fucked everybody up.
chiefdave
Well-Known Member
If, and its still a big if, they are in trouble then rather annoyingly it will prove Fisher correct when he's kept banging on about the loan being the issue.
ACL under CCC / Higgs ownership had to be bailed out by CCC when Yorkshire Bank got twitchy about the loan being repaid. If Wasps fail then it will be largely down to the huge amount of debt they took on.
chiefdave
Well-Known Member
Its never made sense to me not to stay where they are now sharing with Broad Street. There's as much land as they need there and there seems to be no sense in building one set of facilities and then moving a couple of years later. Rugby Council have already said they'd be supportive of that.
dongonzalos
Well-Known Member
Great news wish it was permanent
Astute
Well-Known Member
They took on a lot more debt than they needed to. 10m went to their chairman from what he was owed as well as millions more to make the first few payments. Didn't look healthy from the start. So not only do they have to make the high interest payments but they will still have to find the money raised against the arena.
fernandopartridge
Well-Known Member
Yes, and the price the charity and council wanted the club to pay was excessive
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Nick
Administrator
Confirmed, looks like the good work is down to Richard Stevens!
ACADEMY: Coventry City Football Club can confirm it has agreed an extension for the highly successful Academy to remain at the Alan Higgs Centre
skybluebeduff
Well-Known Member
The club are saying for the 2017/2018 season, so where has March come from?
rupert_bear
Well-Known Member
I knew we were staying st Higgs weeks ago, apart from everything else there's a big doubt if the Wasps/Higgs project will happen for a long time, if ever.
Nick
Administrator
If you are down there a lot do you get the impression that when letting people like Richard Stevens deal with it then things work better than Fisher sticking his beak in?
Sky Blue Kid
Well-Known Member
Been thinking on the same lines mate. If things go tits up, SISU have players under contract that they can sell before buggering off. Makes sense if you look at it from their prospective.
rupert_bear
Well-Known Member
I agree Stevens appears very influential re the Acadamy behind the scenes it's almost run totally separate from the main football club, just hope this new c.e.o doesn't interfere like Waggott constantly did.
Nick
Administrator
Sounds like leaving it to him is a better option anyway!
oldskyblue58
CCFC Finance Director
Think we are well off topic now as to the Academy at the Higgs so will leave it at that
Nick
Administrator
Moved the Wasps Value stuff to here: ricoh grows in value......according to wasps
oldskyblue58
CCFC Finance Director
good idea Nick
