CBS issues (13 Viewers)

[Sky Blue Pete]

It’s a great spot

In fact @junglej13 can’t see it - which part??

 

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[lordy_87]

Oh fuck this for fuck sake

 

[junglej13]

In fact @junglej13 can’t see it - which part??

Within the Collective Investment dashboard there appears to be committed funding of £12m to Derek Richardson - Ricoh Arena.

 

[robbiethemole]

4th line from the bottom Pete

 

[TomRad85]

So corrupt it's embarrassing. How will the public benefit from that in any way?

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[Dominic H]

@Liquid Gold are wasps still going bust after receiving £12m from WMCA

 

[MusicDating]

It’s a great spot

It was also in March 2022's Dashboard - https://governance.wmca.org.uk/documents/s6731/03.22 CIF Dashboard - PUBLIC.pdf

I haven't looked at all historical monthly dashboards to see when it first appeared, but seems separate from the £13m one?

 

[Sky Blue Pete]

Within the Collective Investment dashboard there appears to be committed funding of £12m to Derek Richardson - Ricoh Arena.

Thanks mate. Flagged it with mr Gilbert

 

[Nick]

This is how I see it might be happening.

Wasps refuse to do the pitch, outcry.
They try and push that CCFC will have to move in the media.
They announce the bailout.
It's for the good of the football club and the city because it means some of the money can go onto the pitch.
People love them and are thankful as CCFC are saved.

 

[rexo87]

It was also in March 2022's Dashboard - https://governance.wmca.org.uk/documents/s6731/03.22 CIF Dashboard - PUBLIC.pdf

I haven't looked at all historical monthly dashboards to see when it first appeared, but seems separate from the £13m one?

Anyone have any idea what this 12m is then. It says nothing has been drawn down on it so is it a draft proposal?

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[Sky Blue Pete]

This is how I see it might be happening.

Wasps refuse to do the pitch, outcry.
They try and push that CCFC will have to move in the media.
They announce the bailout.
It's for the good of the football club and the city because it means some of the money can go onto the pitch.
People love them and are thankful as CCFC are saved.

Maybe simply but no new pitch will be laid for this season

 

[Calista]

Well it says it relates to an acre of “brownfield land” – at least nobody can argue with that

 

[CCFCSteve]

Not sure if this is the right place for this but just saw on twitter someone highlighting the agenda from the West Midlands Combined Authority meeting yesterday. Within the pack at Agenda item 7 it reads as if Wasps have been granted a £12m loan.

West Midlands Combined Authority

West Midlands Combined Authority

governance.wmca.org.uk

As mentioned by others, this is a great spot. Still classed as opportunity with 0 drawn so same as Rexo I wondered if this is at pre sign off stage (or out of date) but it is under section 1) Investments committed

Will reserve judgment until details announced but this looks horrible if it’s new loans.

 

[Grendel]

Not sure if this is the right place for this but just saw on twitter someone highlighting the agenda from the West Midlands Combined Authority meeting yesterday. Within the pack at Agenda item 7 it reads as if Wasps have been granted a £12m loan.

West Midlands Combined Authority

West Midlands Combined Authority

governance.wmca.org.uk

I’m assuming this is a development fund earmarked for the hotel isn’t if?

 

[rexo87]

I’m assuming this is a development fund earmarked for the hotel isn’t if?

Would maybe make sense and explain why nothing has been drawn down on it as well as the reason it's sat there for a while as I assume no funding would be drawn until work started on it

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[Nick]

I’m assuming this is a development fund earmarked for the hotel isn’t if?

Why would it still be in there and active? You might be right though.

 

[Grendel]

Would maybe make sense and explain why nothing has been drawn down on it as well as the reason it's sat there for a while as I assume no funding would be drawn until work started on it

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Its a brownfield development project so not the same as the latest application

 

[edgy]

It appears to be "committed" but not "drawn". And it lists 28 jobs created on 1 acres of Brownfield land.

Certainly doesnt sounds like a "loan to Wasps RFC" as such.

 

[rexo87]

Wouldn't be surprised if this happens on a lot of potential developments. Funding approved and reserved for a year or so and then when nothing happens it's then taken back

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[MusicDating]

Would maybe make sense and explain why nothing has been drawn down on it as well as the reason it's sat there for a while as I assume no funding would be drawn until work started on it

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Yes, that looks like how the CIF works. There's a bit about an Escrow account in this article on CIF funding for the Telegraph hotel - Councillor defends spending YOUR money on unviable hotel

Note the CIF appear to give short term loans, not grants.

 

[MusicDating]

I think we can stand down the pitchforks gents (on this occasion anyway...)

 

[Grendel]

Why would it still be in there and active? You might be right though.

It will have a timescale that the work has to be authorised by before it’s withdrawn

 

[Nick]

I think we can stand down the pitchforks gents (on this occasion anyway...)

Was about to 2 foot whoever walked into my office next.

 

[CCFCSteve]

It will have a timescale that the work has to be authorised by before it’s withdrawn

Maybe they could let him draw down a slice to sort the pitch !

 

[HuckerbyDublinWhelan]

Coventry fans right now….

 

[MalcSB]

I have looked back. The dashboard from August 21 shows this £12.2 million as being for the hotel. Funds remain committed but not drawn

surely if they aren’t building the hotel, the funding should be redirected elsewhere (anywhere but Wasps).

 

[AOM]

Was about to 2 foot whoever walked into my office next.

 

[edgy]

It's been in the Investment Board documents since December 2021

https://governance.wmca.org.uk/documents/g450/Public%20reports%20pack%2013th-Dec-2021%2011.00%20Investment%20Board.pdf?T=10

 

[Alex1987]

TBF if it's a loan, it's just kicking their troubles down the road?

 

[HuckerbyDublinWhelan]

So I’ve angrily emailed my MP again for nothing?

hes gonna hate me

 

[Nick]

So I’ve angrily emailed my MP again for nothing?

hes gonna hate me

I have just pinned a picture of Andy Street to a dart board and farted on it.

 

[Grendel]

TBF if it's a loan, it's just kicking their troubles down the road?

Its nothing to do with wasos RFC as isn’t the training ground. Moonstone would receive the loan

 

[HuckerbyDublinWhelan]

Its nothing to do with wasos RFC as isn’t the training ground. Moonstone would receive the loan

You couldn’t make it up could you - he’s literally trying to syphon off public cash

 

[Nick]

Was it ever said that the hotel would be paid for by a loan from them?

 

[Grendel]

Was it ever said that the hotel would be paid for by a loan from them?

Well it’s always going to be a loan. To be fair that’s the panels Job and it’s purpose