If that rumour is factual it will be in the public domain by the morning I’d think
so wasps were involved ? (4 Viewers)
- Thread starter luwalla
- Start date
clint van damme
Well-Known Member
I had heard some rumours about how poorly the complex was doing.
That was earlier in the year and related mainly to takings over the Christmas/New year period compared to previous years.
If true it seems incredible that they've just willingly decreased footfall in the next 10 months by around 300,000.
Wasps won’t be here in two years time. The move to the Ricoh Isn't working out as planned and it’s going to get a hell of a lot worse in the next 12 months believe me.
Why haven’t they put a spade in the ground in relation to the new training ground? It’s because they won’t commit to being here in Coventry long term.
Wasps financial position and the Ricoh will finish them.
clint van damme
Well-Known Member
in what way mate?
No footfall from CCFC or rent to help with the £45m debt
No European rugby
Gates decreasing YOY
Potential struggle next season to stay in the league with there best players left
No an attraction to join anymore as a basket case of a club (just like CCFC I hear you say!)
Bond to pay off next year? That they won’t pay and most likely extend
Investigation into financial cooling of the books with possible serious penalties if found guilty of which they were guilty as the auditors pulled out and reported it.
Grendel
Well-Known Member
They won’t struggle to stay in the league it’s virtually a closed shop.
They certainly look a basket case don’t they, looks to me they were trying a hostile takeover of ccfc and who knows where that could have led. Richard Overson’s very public pulling out of the consortium speaks volumes to me. Still can’t understand the Wasp stance makes no sense to me finance wise.
skybluetony176
Well-Known Member
Others will know/understand the finances better than me but I can only come to the assumption that they need ownership of CCFC in some part to guarantee a long term commitment to the Ricoh to add value to the Ricoh as when the Bonds are due they clearly don’t have the ability to pay them of so need to refinance them. I assume that process becomes easier if progress and growth of the ACL business can be demonstrated. As already pointed out they already have attendances decreasing YOY, couple that to other issues and if anything the model is shrinking not growing which I can only imagine makes further investment less attractive not more attractive. Gaining control of CCFC adds value, added value makes refinancing easier.
Agree, football and Rugby clubs can and do co-exist together on a stadium sharing basis but as a one business enterprise no way imo, the finances generated by each sport is miles apart and for the Rugby club to be the principal owner can’t work.
Looking at things as they are it looks bad long term for Wasps and if this Richardson chap pulls out and cuts his losses could be curtains for them.
Looking at things as they are it looks bad long term for Wasps and if this Richardson chap pulls out and cuts his losses could be curtains for them.
ccfc1234
Well-Known Member
Your thinking about the training complex is very intresting. Why are they not moving this forward at a pace to ensure they have the right facilities to train their players in. I have a friend who supports Prem rugby and he told me Elliot Daley (England full back) and a few of their other players are leaving this summer as they have had enough of the poor training ground. To his knowledge their playing squad is worse than it was 12m ago and they could have a really poor season and possibly go down. For their fans based in London's sake I hope they do and SISU win in court as this will then be their final season as a soulless franchise club.
They do have european rugby just not the top level. Kind of the europa league
Not sure where it is located but I heard that planning had been approved for a new training facility. Whether it is in Cov or outside I don't know.
My take is that CCFC moving out will mostly affect their Ricoh revaluation - which if heard correctly was likely to be £100m+ when it happens. Would make them one of, if not the richest club in Europe, and with the Rugby Premiership payout I think they'd be ok. But not sure what impact us moving out would have on that.
Nick
Administrator
They havent submitted proper planning yet have they?
Nick
Administrator
So they were going to try and revalue at £100m? hahahaha
Sick Boy
Super Moderator
I’ve heard they’ve got rid of their internal marketing team.
Nick
Administrator
Because they don't want to upset wasps or the council.
M&B Stand
Well-Known Member
Why?
skyblueinBaku
Well-Known Member
Because they have nailed their colours to the mast of the Wasps/CCC sinking ship.
Esoterica
Well-Known Member
I'd imagine Wasps are the biggest sponsor the CT have.
Only what I've been told, re training ground, revaluation. No idea how realistic that is. Also told that the reason Vodafone hasn't been rolled out as stadium name sponsor is because of the shenanigans with us... make of it all what you will, just passing it on.
SkyBlueDom26
Well-Known Member
Hopefully they wake up now and realize kicking us out will make them go bust...
chiefdave
Well-Known Member
Nick
Administrator
Would be interesting how much business they get outside of events.
I know they put shows in sometimes and there are people in there but I have been in on a weeknight before and it was a handful of people in there. Haven't been in on a weekend night for a while but the last time there still wasn't that many people.
clint van damme
Well-Known Member
I'm really struggling to understand their thinking.
They must have known this was coming and yet they've still played hardball.
Just don't get it at all.
They must have known this was coming and yet they've still played hardball.
Just don't get it at all.
fernandopartridge
Well-Known Member
Not keen on the tone of Les Reid's article tbf
SkyBlueDom26
Well-Known Member
Better than any Gilbert article
Skyblueweeman
Well-Known Member
In what way?
fernandopartridge
Well-Known Member
I don't know, possibly feeling a bit sensitive but it's the idea of using that story as another dig at Wasps
Liquid Gold
Well-Known Member
If I was being made redundant by them I'd be furious asking why they've turned way so much business.