CBS issues (38 Viewers)

[rexo87]

Not sure there's much hope of them paying 35m at any point if they can't pay 180k up front

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[robbiekeane]

But Again if I was the person managing the contract with the third party the delivery to my company would be down to me. Not them - me

That’s bullshit

you’re not judged by their performance, you’re judged by how you manage their performance

 

[Skyblueweeman]

I don't think anyone is blaming Boddy more than Wasps, so I don't know where you are getting that from.

Have you been reading the posts from @Grendel ?!

 

[Sky Blue Pete]

Whenever the next SCG meeting is, or whatever its called now, can someone ask what the plan is for next season as this seems to be patching it up to get us through this season. Sounds like it really needs ripping up and starting again but if Wasps are broke is that going to happen next summer.

Don't want to be sat here this time next year talking about home games being called off.

Both have stated it will be ripped up at the end of the season

 

[Grendel]

That’s bullshit

you’re not judged by their performance, you’re judged by how you manage their performance

You are mixing up blame and accountability so with respect it’s you whose talking bullshit

 

[Grendel]

Have you been reading the posts from @Grendel ?!

Again blame is different to accountability

 

[robbiekeane]

You are mixing up blame and accountability so with respect it’s you whose talking bullshit

You said it would be down to you if a 3rd party just didn’t turn up with a delivery. It’s nonsense, it’s be down to you to manage the performance of them and come up with the contingency plan and manage the vendor performance.

You can’t control everything and stop it all from happening

But of course you’ve got some very odd obsession with Dave boddy so you’ll continue to blame everything on him no matter the situation so I shan’t waste too much energy in this

 

[Grendel]

You said it would be down to you if a 3rd party just didn’t turn up with a delivery. It’s nonsense, it’s be down to you to manage the performance of them and come up with the contingency plan and manage the vendor performance.

You can’t control everything and stop it all from happening

But of course you’ve got some very odd obsession with Dave boddy so you’ll continue to blame everything on him no matter the situation so I shan’t waste too much energy in this

I have no obsession with Boddy - if it was Fisher or Waggott I’d be entirely consistent in my response - others I suspect would not as for some reason he’s viewed as different (his actions or inactions prove otherwise)

On May 13 Red flags should have been triggering everywhere and contingency strategies being developed

 

[Nick]

I have no obsession with Boddy - if it was Fisher or Waggott I’d be entirely consistent in my response - others I suspect would not as for some reason he’s viewed as different (his actions or inactions prove otherwise)

On May 13 Red flags should have been triggering everywhere and contingency strategies being developed

Yep and you would be the first to moan if the strategy included moving and gone on about Hereford etc etc.

 

[Senior Vick from Alicante]

Further update on the Bond, looks like they are deferring payment again?

MESSAGE FROM HARGREAVES LANSDOWN TODAY RE JUNE NOTIFICATION Wasps Finance plc - Bond Redemption Update Reference: 02023748 Dear Mr Wasps Finance plc - Bond Redemption Update Your holding of 10,000 shares within your Stocks & Shares ISA What is happening? Wasps Finance plc have provided an update regarding Wasps Finance plc - 6.5% 2022 bonds. It has been announced that there will be a further delay to the expected payment date. The expected date of the delayed redemption payment has not been announced yet; we will be in contact with an update once this has been announced by Wasps Finance plc. Accrued interest up until the redemption date will be paid to bondholders. “Further to the announcement on 30th June 2022, the Issuer has not yet been able to agree final terms for refinancing and as such will not complete the refinancing and redemption of the Bonds within the previously proposed timeframe. The Issuer is now working on the proposed Bond terms to be amended and will formally launch a consent solicitation process in August, once the proposed terms have been finalised.” (Source, July 2022). We will contact you again upon announcement of the payment date of the redemption proceeds. Should you have any queries please do not hesitate to contact us. Yours sincerely Becky Haworth Corporate Actions

 

[Sky_Blue_Dreamer]

Again it’s not him it’s his role. CEO is accountable

Again I refer the dishonourable gentleman to his defence of Boris. It's not him, it's his role (well, actually, it was him as well)..

 

[Nick]

Further update on the Bond, looks like they are deferring payment again?

MESSAGE FROM HARGREAVES LANSDOWN TODAY RE JUNE NOTIFICATION Wasps Finance plc - Bond Redemption Update Reference: 02023748 Dear Mr Wasps Finance plc - Bond Redemption Update Your holding of 10,000 shares within your Stocks & Shares ISA What is happening? Wasps Finance plc have provided an update regarding Wasps Finance plc - 6.5% 2022 bonds. It has been announced that there will be a further delay to the expected payment date. The expected date of the delayed redemption payment has not been announced yet; we will be in contact with an update once this has been announced by Wasps Finance plc. Accrued interest up until the redemption date will be paid to bondholders. “Further to the announcement on 30th June 2022, the Issuer has not yet been able to agree final terms for refinancing and as such will not complete the refinancing and redemption of the Bonds within the previously proposed timeframe. The Issuer is now working on the proposed Bond terms to be amended and will formally launch a consent solicitation process in August, once the proposed terms have been finalised.” (Source, July 2022). We will contact you again upon announcement of the payment date of the redemption proceeds. Should you have any queries please do not hesitate to contact us. Yours sincerely Becky Haworth Corporate Actions

Looks like it is somebody just quoting what was said in July?

 

[Sky_Blue_Dreamer]

I'm not making myself clear, we've had 3 games called off, if the pitch is that bad then they must have known at least a couple of weeks ago.
The late Rotherham announcement would have been fine if it was a close run thing and Wigan was on, but the pitch must have been in a terrible state and I'm sure they knew it would be some time before it was playable, they clearly could have put people in the loop a lot quicker than they have.

But could they actually call it off without actual confirmation from a ref/expert? Otherwise we're into points deductions territory. And I imagine the don't do the inspections too early in case it improves (as I imagine they're not used to having pitches in this poor a state that it's pretty much dead).

Admittedly the club could have made it very clear that they thought there was a high probability of the game being called off by the authorities, but they can't actually say 'game is off' until the authorities let them

 

[Colin Steins Smile]

Post on Wasp bondholders forum that the cost of the repair will be paid initially by CCFC and Wasps will have to repay the £180,000 or so by agreement.

Boils down to wasps hoping to get away with it because they haven’t got a pot to piss in.

That will make CCFC a creditor when/if Wasps go into administration.

 

[SkyblueDad]

That will make CCFC a creditor when/if Wasps go into administration.

I would think our new owner Mr Jordan will have something to say about that

 

[Brighton Sky Blue]

A-level results day, and it's not turned out well for our students.

Stephen Vaughan: Economics U
Business Studies U
PE U
BTEC Qualification for Horticulture Fail

David Boddy: Economics E
Biology E
English Language E

Timothy Fisher: Religious Studies D
Philosophy A*
Geography U

Andrew Street: Politics D
Economics D
History E

Kevin Maton: History U
Business Studies U
Geography E

Joy Seppalla: Economics U
Business Studies U
Politics A*

 

[Colin Steins Smile]

Overall the Wasps situation looks grim:

1. The failure to repay the £35m bond in May.
2. The failure to secure refinancing of the bond in May, June, July & now?
3. The failure to maintain the pitch to a safe level. Leading to potential damages being sought.
4. The failure to submit audited accounts for the Wasps Charity and circumstances leading to Charity Commission intervention.
5. The failure of Wasps to finance the pitch repair and CCFC initially paying.

There's one reoccurring theme: WASPS FAILURE!

Surely, the bond holders will seek to recoup as much money now rather than wait another year and get less back.

 

[shmmeee]

You said it would be down to you if a 3rd party just didn’t turn up with a delivery. It’s nonsense, it’s be down to you to manage the performance of them and come up with the contingency plan and manage the vendor performance.

You can’t control everything and stop it all from happening

But of course you’ve got some very odd obsession with Dave boddy so you’ll continue to blame everything on him no matter the situation so I shan’t waste too much energy in this

I planned a wedding. It was on the cheap and very relaxed. I still checked the venue months then weeks then days before the day. I checked the caterers. Everything. You don’t just book it and hope for the best of you’re managing a project.

 

[Nick]

I planned a wedding. It was on the cheap and very relaxed. I still checked the venue months then weeks then days before the day. I checked the caterers. Everything. You don’t just book it and hope for the best of you’re managing a project.

What happens if you could only use 1 venue and 1 caterer?

 

[Deleted member 5849]

Yep and you would be the first to moan if the strategy included moving and gone on about Hereford etc etc.

Why would he be going on about Hereford?

I planned a wedding. It was on the cheap and very relaxed. I still checked the venue months then weeks then days before the day. I checked the caterers. Everything. You don’t just book it and hope for the best of you’re managing a project.

Hmm, tbf mine got cancelled because of a national lockdown, and I don't think I was responsible for *that*!

 

[SBT]

Whenever a statement comes out (regardless of whether it is from Wasps/CCFC/SISU/EFL) saying "parties are in discussion/working on something", with no substance, it is usually condemned as being a "waste of time" and "why don't they just concentrate on sorting things out and tell us when they've got some proper news".

They can't win in a situation where its obviously going to be negative news.

So you’d rather they just say nothing then?

Find it weird that the same people who throw their toys out of the pram every time the media is silent on their pet peeve story du jour are perfectly happy with the club itself being silent on much more basic/fundamental stuff. But if people think the club’s communication has been brilliant here then that’s their prerogative - we get the club we deserve.

 

[shmmeee]

What happens if you could only use 1 venue and 1 caterer?

Then I’d check twice as much so any problems were identified early and other stakeholders can be notified.

I also refer the honourable gentleman to the last decade of me bitching about how the club have willingly given up control of the ground situation with no signs of rectifying it.

 

[Nick]

Why would he be going on about Hereford?

Ha, Worcester. Same thing down there.

 

[shmmeee]

Why would he be going on about Hereford?

Hmm, tbf mine got cancelled because of a national lockdown, and I don't think I was responsible for *that*!

I seem to recall you being on stressing about it for weeks. I assume you didn’t inform guests the day before it was off.

 

[SBT]

What happens if you could only use 1 venue and 1 caterer?

Not sure that excuse is going to fly when you’ve already been married multiple times in every wedding venue in the local area.

 

[Deleted member 5849]

I seem to recall you being on stressing about it for weeks. I assume you didn’t inform guests the day before it was off.

True, although there's one or two I'd have liked to have gone to an empty church...

 

[Nick]

Then I’d check twice as much so any problems were identified early and other stakeholders can be notified.

But you can only use the 1 place and the 1 caterer. Not much you can do, especially when the venue don't let you in until the day before.

 

[olderskyblue]

I planned a wedding. It was on the cheap and very relaxed. I still checked the venue months then weeks then days before the day. I checked the caterers. Everything. You don’t just book it and hope for the best of you’re managing a project.

My wedding reception venue cancelled on us a week before the wedding…..

 

[Nick]

Not sure that excuse is going to fly when you’ve already been married multiple times in every wedding venue in the local area.

Oh so now it is going to be blame the club for not sorting a groundshare somewhere else?

 

[Colin Steins Smile]

Then I’d check twice as much so any problems were identified early and other stakeholders can be notified.

I also refer the honourable gentleman to the last decade of me bitching about how the club have willingly given up control of the ground situation with no signs of rectifying it.

You have a point - The club not owning the ground was always a high risk situation, which should have been included in their risk assessments.

 

[Sky Blue Pete]

I planned a wedding. It was on the cheap and very relaxed. I still checked the venue months then weeks then days before the day. I checked the caterers. Everything. You don’t just book it and hope for the best of you’re managing a project.

I think that’s fair and accepted by DB that he could have acted quicker during the summer. The caveat being even on the Monday when Bristol game moved SV was questioning the pitch being unacceptable

On this he couldhave donebetter

 

[Sky Blue Pete]

So you’d rather they just say nothing then?

Find it weird that the same people who throw their toys out of the pram every time the media is silent on their pet peeve story du jour are perfectly happy with the club itself being silent on much more basic/fundamental stuff. But if people think the club’s communication has been brilliant here then that’s their prerogative - we get the club we deserve.

Have you read the ccfc statement?

 

[SBT]

Oh so now it is going to be blame the club for not sorting a groundshare somewhere else?

Well we tried to switch stadiums for at least two of our affected home fixtures didn’t we? Our priority was (quite rightly) to fulfil the fixtures. If we’d have been on top of this sooner then I have no doubt that we would have played all of our games in August at other stadiums - no EFL punishment, no fixture pile-up, no late postponements. If you’re happier that it turned out this way instead then good for you.

 

[SBT]

Have you read the ccfc statement?

Of course. I’m not suggesting the club confirm things prematurely, especially when things were fluid, I’m suggesting they communicate what’s going on behind the scenes and what timescale they’re working on to give people a bit of clarity.

But again, if people would rather know nothing, that’s up to them.

 

[Nick]

Of course. I’m not suggesting the club confirm things prematurely, especially when things were fluid, I’m suggesting they communicate what’s going on behind the scenes and what timescale they’re working on to give people a bit of clarity.

But again, if people would rather know nothing, that’s up to them.

It usually helps if people are that bothered they want to be informed at every little thing then they try to stay up to date and listen to whats been said. (rather than just get worked up by social media)