Could this be good news for us to return to the Ricoh? (10 Viewers)

[shepardo01]

Like I said he was pretty balanced. If I was on twitter I’d say good on you young man!
What was his name on here?

Name on here - Tom Leach
Hope he comes out of this safely on the other side!!..... lol...

 

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[jto123]

Rock and hard place for me - 12 more months of behind closed doors stuff and they’re gone.

problem is the likelyhood is so will we

This is spot on. I'm not ashamed to say that I would be happy for Wasps to go under, leaving the door open for us to regain the Ricoh. There really must be a temptation to grind them into their dirt. They didn't want to help us when we were struggling.

 

[clint van damme]

Butts is a no! Has been for over a year. Doesn't meet guidelines.

Sent from my SM-N960F using Tapatalk

too late mate, 50 page discussion on the Butts incoming.

 

[shepardo01]

Interesting #PUSB hashtag used. In itself it isn't a football related story.

That could make it worse for him... poor lad!

 

[mr_monkey]

This is spot on. I'm not ashamed to say that I would be happy for Wasps to go under, leaving the door open for us to regain the Ricoh. There really must be a temptation to grind them into their dirt. They didn't want to help us when we were struggling.

I think we would all like that, only issue is that if wasps do go under there is no guarantee of us getting the Ricoh

 

[mr_monkey]

.....somebody warn poor Tom!
Could be close to his P45 from the Waspograph!

Fair play to him, that's more of an informative article about wasps than Gilbert or turner have ever done

 

[Liquid Gold]

I've always been sceptical of the idea but Sisu could have been buying the bonds and now they're in default if they have enough they could call in the arena as repayment.

We will let them play there but they are only allowed in the stadium 5 minutes before and 5 minutes after kick off. We don't want them ruining our pitch so we will install a slide in car park and they can play on the concrete. Flags are banned. Move their ticket office and merchandise to the car park, they aren't allowed a roof on this, just a couple of railings ala car boot sale. They're allowed 1 A4 badge in a place of our closing (toilet). 27 ticket checks between interring the site and getting to their seat. 1 steward per attendee, charged at a rate set by CCFC. 7 years of maintenance work invoiced to them.0% food and beverage. If they don't agree to the terms then they can go back to London where they belong.

 

[shepardo01]

I've always been sceptical of the idea but Sisu could have been buying the bonds and now they're in default if they have enough they could call in the arena as repayment.

We will let them play there but they are only allowed in the stadium 5 minutes before and 5 minutes after kick off. We don't want them ruining our pitch so we will install a slide in car park and they can play on the concrete. Flags are banned. Move their ticket office and merchandise to the car park, they aren't allowed a roof on this, just a couple of railings ala car boot sale. They're allowed 1 A4 badge in a place of our closing (toilet). 27 ticket checks between interring the site and getting to their seat. 1 steward per attendee, charged at a rate set by CCFC. 7 years of maintenance work invoiced to them.0% food and beverage. If they don't agree to the terms then they can go back to London where they belong.

That deal sounds familiar!!!!

 

[Deity]

Don’t read too much into this .... literally 1000’s of companies will miss their normal banking covenant tests this year. The banks are under huge government pressure to relax them during the C-19 period.

 

[skybluesam66]

Don’t read too much into this .... literally 1000’s of companies will miss their normal banking covenant tests this year. The banks are under huge government pressure to relax them during the C-19 period.

that maybe, but watch them try to refinance in 2022 if they last that long!

 

[shmmeee]

Just gonna leave this thread from 2018 here to save you guys the trouble of retyping everything, including the praise for the CT for “finally reporting properly on Wasps”

Wasps 18/19FY Financial Results

 

[Limey]

Got zero knowledge of financials but could sisu possibly buy up the debt for large chunk of the stake in ACL (i.e 100%) and rent it back to them. Would this even be beneficial for ccfc (except the obvious of having a ground back)?

 

[skybluetony176]

I've always been sceptical of the idea but Sisu could have been buying the bonds and now they're in default if they have enough they could call in the arena as repayment.

We will let them play there but they are only allowed in the stadium 5 minutes before and 5 minutes after kick off. We don't want them ruining our pitch so we will install a slide in car park and they can play on the concrete. Flags are banned. Move their ticket office and merchandise to the car park, they aren't allowed a roof on this, just a couple of railings ala car boot sale. They're allowed 1 A4 badge in a place of our closing (toilet). 27 ticket checks between interring the site and getting to their seat. 1 steward per attendee, charged at a rate set by CCFC. 7 years of maintenance work invoiced to them.0% food and beverage. If they don't agree to the terms then they can go back to London where they belong.

Wouldn’t be surprised at all if they end up being one of the big purchasers of the bonds. Sort of a win win for them. If wasps were successful they’d get all the interest payments and their initial investment back at the end (IIRC that’s how it worked), if it ends up being the major fuck up it looks like it’s going to be then SISU are a creditor to Wasps and that gives them leverage.

 

[skybluetony176]

Got zero knowledge of financials but could sisu possibly buy up the debt for large chunk of the stake in ACL (i.e 100%) and rent it back to them. Would this even be beneficial for ccfc (except the obvious of having a ground back)?

I wouldn’t be at all surprised if SISU end up owning CCFC, ACL and Wasps.

 

[Magwitch]

Wouldn’t be surprised at all if they end up being one of the big purchasers of the bonds. Sort of a win win for them. If wasps were successful they’d get all the interest payments and their initial investment back at the end (IIRC that’s how it worked), if it ends up being the major fuck up it looks like it’s going to be then SISU are a creditor to Wasps and that gives them leverage.

Never thought of that, rule nothing out in the murky business world and one thing we know of sisu they are experts in this field.

 

[oldfiver]

Don’t read too much into this .... literally 1000’s of companies will miss their normal banking covenant tests this year. The banks are under huge government pressure to relax them during the C-19 period.

The Bond Holders are not the same though - they could be Investment Trusts , Pension Funds or dare I say Councils

 

[mark82]

Honestly don't think it'll make any difference to the negotiations around next year.

That said, for a company that wasn't in the best of financial health anyway, COVID-19 restrictions aren't going to make things easier.

 

[oldfiver]

Got zero knowledge of financials but could sisu possibly buy up the debt for large chunk of the stake in ACL (i.e 100%) and rent it back to them. Would this even be beneficial for ccfc (except the obvious of having a ground back)?

That would not work I am afraid - one of the first things to happen if WASPS FINANCE defaulted would be a call on WASPS Group by the Bond Trustee. Then we are in to Receivers territory.

 

[jordan210]

The Bond Holders are not the same though - they could be Investment Trusts , Pension Funds or dare I say Councils

You would think the majority would be fans. As anyone who would have done due diligence would not invest.

 

[oldfiver]

You would think the majority would be fans. As anyone who would have done due diligence would not invest.

I did mention "Councils" :angelic:

 

[jordan210]

I did mention "Councils" :angelic:

True. Im guessing it would likely only be one council mind you !

 

[RegTheDonk]

Pitch not allowed in EFL....

Might be worth spending a few bob laying a new one. I'd rather put money in CRFC's pockets than Blues or Wasps. If only the council didn't stand in our way. Why would they want to scupper the club after congratulating us on our promotion.

 

[Tommo1993]

Don’t read too much into this .... literally 1000’s of companies will miss their normal banking covenant tests this year. The banks are under huge government pressure to relax them during the C-19 period.

It’s been forecasted all along how unlikely it is for them to meet bond covenants. This is nothing new brought on by the excuse of Covid. I think clubs/businesses who’ve gone under already must’ve always been close to the edge anyway.

I hope we just sit back and wait for them, because they will come to us. They’re playing hot potato with nobody to throw it to.

 

[RegTheDonk]

.....somebody warn poor Tom!
Could be close to his P45 from the Waspograph!

 

[Razzle Dazzle Dean Gordon]

too late mate, 50 page discussion on the Butts incoming.

We don't need to discuss the Butts when there's a perfectly good IKEA to bulldoze down the road

 

[better days]

Might be worth spending a few bob laying a new one. I'd rather put money in CRFC's pockets than Blues or Wasps. If only the council didn't stand in our way. Why would they want to scupper the club after congratulating us on our promotion.

When Chris Anderson was here his preferred option was the Butts
If we could have done a deal there and if necessary laid a new pitch and put in temporary stand(s) etc
But the council torpedoed it using excuses like crowding/access and so on
Can't remember exact details but Chris Anderson told me himself when I met him at a game

 

[mr_monkey]

When Chris Anderson was here his preferred option was the Butts
If we could have done a deal there and if necessary laid a new pitch and put in temporary stand(s) etc
But the council torpedoed it using excuses like crowding/access and so on
Can't remember exact details but Chris Anderson told me himself when I met him at a game

That was in the leaked emails from last year wasn't it, the council trying to make sure no deal was done with the butts

 

[chiefdave]

Don’t read too much into this .... literally 1000’s of companies will miss their normal banking covenant tests this year. The banks are under huge government pressure to relax them during the C-19 period.

While that's correct its not the bank who are owed the money, would be easier if it was. They were also struggling before this.

Given that when they last breached them they changed the rules about income to allow the owner to put in cash to 'top up' the fact they've now breached them again would suggest to me that either the owner doesn't have the money to put in (been rumoured that he is reaching the limit of his personal wealth) and / or an issue with the valuation of the stadium.

If its the stadium valuation that will mean that when they need to refinance they won't have enough security to cover the amount they want to borrow. Add in that the economy is screwed, with Brexit still to come, and they now have years of poor trading history rather than a promise they will be the richest and most successful club in Europe and it doesn't look such an attractive investment. At the very least suspect they will have to offer a significantly higher interest rate which of course means they need to generate more money just to make the interest payments.

 

[chiefdave]

When Chris Anderson was here his preferred option was the Butts

Suspect we missed a chance to be rid of SISU when Anderson came in.

Seemed a very odd appointment at the time, given his background why would he want to work for SISU, but if you recall the first thing he did was say to everyone forget what has happened before and lets try and do a deal. Then as soon as the Ricoh and Butts were off the table he was gone.

Not long after he left he did an interview with a Dutch paper talking about trying to take over a lower division team in England.

 

[oldfiver]

When Chris Anderson was here his preferred option was the Butts
If we could have done a deal there and if necessary laid a new pitch and put in temporary stand(s) etc
But the council torpedoed it using excuses like crowding/access and so on
Can't remember exact details but Chris Anderson told me himself when I met him at a game

Did he also fill your head with statistics and probabilites too? Total academic with no business acumen!

 

[TewkesburySkyBlue]

Rock and hard place for me - 12 more months of behind closed doors stuff and they’re gone.

problem is the likelyhood is so will we

MM

You are a bundle of fun HDW

 

[Skyblueweeman]

Suspect we missed a chance to be rid of SISU when Anderson came in.

Seemed a very odd appointment at the time, given his background why would he want to work for SISU, but if you recall the first thing he did was say to everyone forget what has happened before and lets try and do a deal. Then as soon as the Ricoh and Butts were off the table he was gone.

Not long after he left he did an interview with a Dutch paper talking about trying to take over a lower division team in England.

I met him once, no longer after he left us, at a Football Convention. I introduced myself and he gave me about 15 mins of his time to discuss the situation. Was pretty candid and honest. Thought he was decent to be fair to him.

 

[Rodders1]

Don’t read too much into this .... literally 1000’s of companies will miss their normal banking covenant tests this year. The banks are under huge government pressure to relax them during the C-19 period.

This financial year maybe..... but not the future ones.

 

[fernandopartridge]

Don’t read too much into this .... literally 1000’s of companies will miss their normal banking covenant tests this year. The banks are under huge government pressure to relax them during the C-19 period.

It isn't a banking covenant

 

[CanadianCCFC]

Rock and hard place for me - 12 more months of behind closed doors stuff and they’re gone.

problem is the likelyhood is so will we

We just spent 1.3 million pounds on a player, if we were a year from going bust I don’t think the club would be stupid enough to do that