Wasps going into admin & the impact on CCFC (13 Viewers)

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olderskyblue

olderskyblue

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Mar 22, 2011
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A tall old guy with grey hair being shown the different lounges 1/2 hr ago. Northern accent. Probably nothing
 
Nick

Nick

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shmmeee said:
There’s no reason not to allow Sisu to get the arena really. Last time the issue was that they wanted the freehold unencumbered and they wanted the debt gone IIRC. It seems they’ve only ever been willing to bid when it’s in admin which it never has been.
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I include conditions actually protecting the club even if sisu take over ACL.
 
H

HuckerbyDublinWhelan

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shmmeee said:
There’s no reason not to allow Sisu to get the arena really. Last time the issue was that they wanted the freehold unencumbered and they wanted the debt gone IIRC. It seems they’ve only ever been willing to bid when it’s in admin which it never has been.
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I mean this is all a moot point, SISU haven’t bid so that’s entirely on them
 
W

wingy

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Jul 9, 2011
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This Hasn't run long enough yet.
Administrator needs to rack up about £15M in fees.
 
Sky_Blue_Dreamer

Sky_Blue_Dreamer

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Brylowes said:
Do as I do mate, treat the thread pages like a pub crawl in Liverpool city centre :unsure: reluctantly accept there’s to many and only go in every 4th one.
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I was going to use a similar analogy, only mine was women at an orgy.
 
O

OyJimmy

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Mar 8, 2011
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Ashley will get ACL. He loves football and he’s from up the road in Walsall. He may just fancy another crack at football and he may just see an opportunity to develop a new Midland football powerhouse.

He’s also from Walsall, so watch out the Saddlers will be moving in soon :-(
 
T

The CableGuy

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Feb 5, 2011
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www.telegraph.co.uk

Frasers lines up bid for Wasps rugby stadium

Company backed by Mike Ashley plots new stronghold in Coventry
www.telegraph.co.uk www.telegraph.co.uk


Frasers is at the heart of a scrum for ownership of the Wasps rugby stadium in Coventry, as part of Mike Ashley’s plan to make the city his new stronghold.

Insiders said last night that Frasers is intensifying efforts to acquire the 32,609-seater Coventry Building Society Arena (CBS), which filed notice of its intention to appoint administrators two weeks ago.

Specialists from FRP Advisory are now racing to secure a solvent sale of the stadium, which is also home to Coventry City, in the next fortnight.

Frasers is said to be keen to put its stamp on Coventry and demonstrate its commitment to the area as it seeks planning permission for a vast new headquarters on the edge of the city.

The CBS Arena also houses a hotel and large casino, and Mr Ashley’s appetite for gambling has been a hallmark of his business career.


The billionaire, 58, recently stepped back from day-to-day operations at Frasers and is said to be focused on the new development, which includes plans for a distribution hub with a new head office, retail space, a hotel, restaurant and conference facilities.

The stadium is owned by Arena Coventry Limited (ACL), a vehicle controlled by the Wasps owner Derek Richardson. The Premiership club, formerly based in London, relocated to Coventry in 2014 and hit trouble after income came under heavy pressure from the pandemic. Sources said Mr Ashley is not seeking to acquire the rugby club, which is already in administration.

When it announced its intention to appoint administrators, ACL said: “The arena is a profitable standalone business with huge potential and therefore is attracting strong interest from a number of parties.

“We have filed a notice of intention to appoint administrators and we will be aiming to use this period to complete a deal with a venue operator.”

The exhibitions giant NEC Group reportedly expressed interest in the sale early on, but is now said to have dropped out.

Frasers and FRP declined to comment.
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Liquid Gold

Liquid Gold

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OyJimmy said:
Ashley will get ACL. He loves football and he’s from up the road in Walsall. He may just fancy another crack at football and he may just see an opportunity to develop a new Midland football powerhouse.

He’s also from Walsall, so watch out the Saddlers will be moving in soon :-(
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Out of interest do you know where he’s from?
 
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AFCCOVENTRY

AFCCOVENTRY

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tisza said:
Does cast an interesting overview. Do you invest millions in a new HQ then screw over the local football club? Doesn't seem likely even for Ashley.
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If he wants to make Coventry the strong hold for his empire then you buy the football club.

Suspect this is step by step plan.
 
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slowpoke

slowpoke

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What is a preferred bidder and who decides and why, what if someone else comes in with just as deep pockets with a higher bid tomorrow, if it is Mike Ashley it’s obviously a good strong viable bid but he was very much in for Derby but don’t think he was ever the preferred bidder, that was an American who turned out to not have enough money.
 
B

Brighton Sky Blue

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Jan 11, 2012
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If that piece is true it sounds pretty encouraging on his intentions for the area more generally
 
Liquid Gold

Liquid Gold

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MusicDating said:
https://caseboard.io/cases/?prod_caseboard_cases[query]=arena

Is this admin? No NOI?

View attachment 26955
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giphy.gif
 
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alexccfc99

alexccfc99

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Liquid Gold said:
Out of interest do you know where he’s from?
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He was born in Walsall, educated in Buckinghamshire but the way he speaks you’d think he was a cockney

Seen things suggesting he’s actually a Spurs fan and another suggesting he liked Newcastle in the late 90s under Keegan hence his investment in them and appointing him (Which all went tits up)
 
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