SkyblueDad
Well-Known Member
Wasn’t that an idea way back for houses etc to be built alongside the canal and red hills
Wasps going into admin & the impact on CCFC (141 Viewers)
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HuckerbyDublinWhelan
Well-Known Member
I aways thought there was a plan for a Marino type area on the grassy area behind the train track
Brighton Sky Blue
Well-Known Member
Can't find anyone to take up the space for Chiquito's/Frankie + Benny's/Pizza Hut. Can't get a train more than a few carriages either
Terry Gibson's perm
Well-Known Member
When Warwickshire cc weren’t getting the support from Birmingham council there was a little bit of talk of them moving around the arena, was never going to happen but got their council to move a bit.
Cranfield Sky Blue
Well-Known Member
Are you single by any chance?
CBS have a very simple business plan. Which is savings and mortgages. Running an arena sits well out their wheelhouse. For that reason I really doubt its an option.
covcity4life
Well-Known Member
Surerly some rich person somewhere in the world has been alerted to this and is looking at this as an opportunity
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tisza
Well-Known Member
Problem is it's never really paid no matter who ran it.
The millstone was always the loan that the council took out to complete the stadium.
That loan was basically why the original rent was too high. It was the annual loan repayment .
By the time Wasps took over it was only half paid. Hence their need for this bond. The bond just transferred that loan debt from one point to another - bank to council to bondholders ( very simplified).
And people always find an excuse for it not working - ég not enough hotel rooms (but CCC wouldn't let independent people build some). Not enough concerts - why don't bands use it? Stand to be corrected but has it ever done more than 2 a summer? No reason it couldn't do more.
Not sure in the foreseeable future that anyone can come in and just turn it into a large cash generator.
And dividing off bits seems a weak strategy in as much as the bits do tend to feed each other. Hotel reliant on the conferencing/exhibition side. Casino finances must get a decent boost from both the hotel, conferencing and various matchday traffic.
Gynnsthetonic
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Gynnsthetonic
Well-Known Member
Well just say Livenation did buy the arena would they buy the club too or just rent us the pitch, if the latter we may as well move and try to get a football stadium built elsewhere. Where and by who f#ck knows!
Sick Boy
Super Moderator
Yeah it’s beyond a joke - I’d like to see them do something similar to Brighton where the match ticket includes the train.
Nick
Administrator
Isn't that due to stuff at cov station etc?
Philosoraptor
Well-Known Member
All about the money and no fucker knowing how to pull their finger out of their asses for the betterment of the area.
skybluepm2
Well-Known Member
Former Wasps chief spearheads bid for stricken Premiership Rugby clubFormer Wasps chief spearheads bid for stricken Premiership Rugby club
Saddlebrains
Well-Known Member
If this happens i think thats me done for the time being after this season.
We will never progress without the stadium or new ownership and its fucking soul destroying
Grendel
Well-Known Member
That sounds like a disaster waiting to happen
HuckerbyDublinWhelan
Well-Known Member
Take out the hating wasps thing, How the fuck is a rugby club attracting a £50 million bid
Saddlebrains
Well-Known Member
Was always going to happen, they were always going to wriggle out of it the cunts
Grendel
Well-Known Member
It’s the stadium as well and it would mean Richardson losing a fair bit of money - also would explain why the council are getting advice as they’d agree assignment
It’s believable
Grendel
Well-Known Member
It’s not wriggling out?
HuckerbyDublinWhelan
Well-Known Member
The interesting part is them asking not to relegate during admin process, and that other firms want the Ricoh only.
duffer
Well-Known Member
There's a bit more on this here.
www.mkfm.com
Interestingly there's a bit in that report that says...
"People close to the auction of Wasps say a solvent deal to buy the club and its stadium, either together or separately, is unlikely.
The Terminum Capital bid led by Mr Armstrong is said to have requested to Premiership Rugby Limited, the league's administrator, and the Rugby Football Union, the sport's governing body, that a deal executed through an administration process should not result in the club's relegation.
The game's authorities have the discretion to apply a points deduction rather than demotion in the event of something called a 'no-fault administration', according to one rugby insider.
Wasps' stadium includes conference and banqueting facilities which are believed to have drawn interest from a number of other bidders which are not interested in buying the rugby club itself."
So basically, Wasps go into admin but the RFU treat them differently to Worcester by not relegating them - that's what they're banking on for this deal to go through...
Former Wasps chief spearheads bid for stricken Premiership Rugby club
A former boss of crisis-hit Wasps is spearheading a takeover bid for the Premiership Rugby club that could save it from the threat of relegation or extinction.
www.mkfm.com
Interestingly there's a bit in that report that says...
"People close to the auction of Wasps say a solvent deal to buy the club and its stadium, either together or separately, is unlikely.
The Terminum Capital bid led by Mr Armstrong is said to have requested to Premiership Rugby Limited, the league's administrator, and the Rugby Football Union, the sport's governing body, that a deal executed through an administration process should not result in the club's relegation.
The game's authorities have the discretion to apply a points deduction rather than demotion in the event of something called a 'no-fault administration', according to one rugby insider.
Wasps' stadium includes conference and banqueting facilities which are believed to have drawn interest from a number of other bidders which are not interested in buying the rugby club itself."
So basically, Wasps go into admin but the RFU treat them differently to Worcester by not relegating them - that's what they're banking on for this deal to go through...
Unbelievable…. Hasn’t this guy not learned the lessons of the past!? They lose £10m a year… that investment will pay off the bond and Richardson but will only let them survive for a further season.
Madness!!
HuckerbyDublinWhelan
Well-Known Member
Which they will. No way do they relegate two teamsThere's a bit more on this here.
Former Wasps chief spearheads bid for stricken Premiership Rugby club
A former boss of crisis-hit Wasps is spearheading a takeover bid for the Premiership Rugby club that could save it from the threat of relegation or extinction.
Interestingly there's a bit in that report that says...
"People close to the auction of Wasps say a solvent deal to buy the club and its stadium, either together or separately, is unlikely.
The Terminum Capital bid led by Mr Armstrong is said to have requested to Premiership Rugby Limited, the league's administrator, and the Rugby Football Union, the sport's governing body, that a deal executed through an administration process should not result in the club's relegation.
The game's authorities have the discretion to apply a points deduction rather than demotion in the event of something called a 'no-fault administration', according to one rugby insider.
Wasps' stadium includes conference and banqueting facilities which are believed to have drawn interest from a number of other bidders which are not interested in buying the rugby club itself."
So basically, Wasps go into admin but the RFU treat them differently to Worcester by not relegating them - that's what they're banking on for this deal to go through...
Terry Gibson's perm
Well-Known Member
A no fault administration how can nobody be at fault for poor management
chiefdave
Well-Known Member
Am I reading that correctly? That bid depends on the club going into admin and the RFU confirming they won’t relegate Wasps as a result of administration as their financial issues are the result of covid.
That seems a stretch to say the least, they were in a mess long before covid. And what happens to the bond holders in this scenario, do they end up with nothing?
Brighton Sky Blue
Well-Known Member
It's the usual white knight for someone else while we remain stuck with leeches
Grendel
Well-Known Member
It won’t pay off Richardson at all
Grendel
Well-Known Member
They look pretty flaky
That’s how I read it but was confused that sources close to this say it’s unlikely?
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