Wasps going into admin & the impact on CCFC (141 Viewers)

[hutch1972]

I just don't see why you'd pay £50m for Wasps and the arena plus what, £30m to make sisu piss off? £80m is a lot of money for three loss making entities.

I dream of Sisu contemplating £30mill but sadly their idiotic valuations would be far higher.

 

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[Perryccfc]

I wouldn’t be delighted with Ashley, but I wouldn’t be mortified either. However, if/when the day comes SISU are gone from our club I think I will shed a tear, just thinking of the pain they have caused this club. I would hope the CBS would be packed and rocking the first game following.

 

[SHUNT31]

I wouldn’t be delighted with Ashley, but I wouldn’t be mortified either. However, if/when the day comes SISU are gone from our club I think I will shed a tear, just thinking of the pain they have caused this club. I would hope the CBS would be packed and rocking the first game following.

Then half empty the following week


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[Perryccfc]

Then half empty the following week


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We can’t ask too much

 

[Gynnsthetonic]

I wouldn’t be delighted with Ashley, but I wouldn’t be mortified either. However, if/when the day comes SISU are gone from our club I think I will shed a tear, just thinking of the pain they have caused this club. I would hope the CBS would be packed and rocking the first game following.

I think it's time now for them to go

 

[SHUNT31]

I think it's time now for them to go

I agree. My opinion on the current ownership had significantly changed over the past few seasons. I seriously thought a corner had been turned but this year has shown they haven’t changed at all.

If there was ever a chance for them to leave, it is now, in my opinion. Who knows, maybe them wankers pitching up from London will actually turn out to be a blessing.


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[MusicDating]

Exclusive: Prospective Wasps owners will stomach relegation if lucrative 'P share' retained other Premiership clubs pulling up the ladder?...

 

[duffer]

Force of habit

There's literally nothing to go to court about. Our sublease remains in effect with whoever takes on the head lease. It stays on existing terms, so who gets sued here and for what?

I'm not for a moment sticking up for SISU, but we've had commercial relationships with a number of other parties (Northampton and Birmingham as landlords most notably), without even a hint of an issue.

Whoever ends up holding the lease, they're not going to be in a rush to boot out a paying anchor tenant, and I doubt we'll be in a rush to leave.

 

[Flying Fokker]

Exclusive: Prospective Wasps owners will stomach relegation if lucrative 'P share' retained other Premiership clubs pulling up the ladder?...

Mike Ashley…bidding for Wasps? He obviously sees the potential. . . . . .

 

[Travs]

Personally i have no desire to co-exist with Wasps under any kind of joint-ownership.

Prefer the current situation imo.

Would rather Wasps gone as a number one priority.

 

[coop]

NEC Group 'lodges bid' for Coventry Building Society Arena amid Wasps fears

Midlands firm 'lodges bid' for Coventry Building Society Arena

The home of Wasps Rugby and Coventry City Football Club is understood to be of interest to the NEC Group

www.coventrytelegraph.net

 

[GIMOC]

Personally i have no desire to co-exist with Wasps under any kind of joint-ownership.

Prefer the current situation imo.

Would rather Wasps gone as a number one priority.

that’s just petty then.

you prefer us to be run by sisu than a fresh new start?

wasps going under more of a priority then sisu leaving?

 

[HuckerbyDublinWhelan]

Personally i have no desire to co-exist with Wasps under any kind of joint-ownership.

Prefer the current situation imo.

Would rather Wasps gone as a number one priority.

I’d love wasps to go under but I’d much rather have Ashley owning both than the current situation

 

[clint van damme]

I’d love wasps to go under but I’d much rather have Ashley owning both than the current situation

Your half and half scarf is in the post!

 

[Deleted member 5849]

Why are we so worried who buys the stadium? It doesn't affect us at all

 

[Philosoraptor]

Is anyone having a sniff of someone trying to start an imaginary auction before administration.

How much is the head lease actually worth?

I would say it is grossly over-valued

 

[letsallsingtogether]

NEC Group 'lodges bid' for Coventry Building Society Arena amid Wasps fears

Midlands firm 'lodges bid' for Coventry Building Society Arena

The home of Wasps Rugby and Coventry City Football Club is understood to be of interest to the NEC Group

www.coventrytelegraph.net

Hasnt CCC got a share in the NEC!?

 

[Deleted member 5849]

I still think the Alexanda Stadium works as a more viable home for them. It's smaller in capacity but in a bigger city without an established club and they wouldn't be putting backs up like they did here taking our home away.

Moseley might argue with that

 

[duffer]

that’s just petty then.

you prefer us to be run by sisu than a fresh new start?

wasps going under more of a priority then sisu leaving?

I'd call it honourable. Wasps should not be here, it's that simple, and there's no way that a club belonging to Coventry should be tied in with them.

Any investor who doesn't get how strong that feeling is amongst a large section of City fans is in for a surprise when he tries to bring the clubs together

If you can put morals to one side though, financially it's also fucking bananas. Look at the state of them, and at the state of Premiership rugby in general. It would be tying us to a lead balloon.

 

[Nick]

A lot of these rumours do seem like trying to start a bidding war.

I thought the only way to sell something is to do it in secret like the Council?

 

[MalcSB]

A lot of these rumours do seem like trying to start a bidding war.

I thought the only way to sell something is to do it in secret like the Council?

Didn’t Dallaglio refer to an auction on Monday?

 

[Gynnsthetonic]

A lot of these rumours do seem like trying to start a bidding war.

I thought the only way to sell something is to do it in secret like the Council?

Fucking shisters should of been held accountable for that

 

[SkyblueDad]

Hasnt CCC got a share in the NEC!?

I think we had the option when it was built but turned it down.

 

[Gynnsthetonic]

Wasp want to retain their premiership share even if relegated which would entitle them to additional funds

 

[HuckerbyDublinWhelan]

Your half and half scarf is in the post!

I mean if Ashley could get the stadium only and buy us - that’s always preferable. I feel like he’s mainly interested in the football club. The rugby team is just one of those shitty buy one get one free

“buy a football club and stadium, get a rugby team free” like a billionaires DFS this

 

[Gynnsthetonic]

I think we had the option when it was built but turned it down.

Thought we had a percentage share

 

[MalcSB]

Is anyone having a sniff of someone trying to start an imaginary auction before administration.

How much is the head lease actually worth?

I would say it is grossly over-valued

The charge held by the bondholders would have to be cleared as far as I understand it - that’s £35m. The £50m bids referred to sound as if they would clear the bonds, HMRC and Covid support loans. Richardson would be hoping for more to go towards the £18m or thereabouts he has put back in to cover the annual losses.

 

[Grendel]

I'd call it honourable. Wasps should not be here, it's that simple, and there's no way that a club belonging to Coventry should be tied in with them.

Any investor who doesn't get how strong that feeling is amongst a large section of City fans is in for a surprise when he tries to bring the clubs together

If you can put morals to one side though, financially it's also fucking bananas. Look at the state of them, and at the state of Premiership rugby in general. It would be tying us to a lead balloon.

Most Coventry fans wouldn’t care less - football fans would sell their soul to the devil if it meant success

The finances are no worse than ours

 

[jordan210]

My run down so far

So basically no one wants to buy wasps. They only want the stadium.

Mike Ashley was going to refinance the bond but they dint have time. Obvs 6 months + of BS about HSBC did wonders.

Wasps want special treatment.

Lots of leaks to the news to keep them relevant.

And we still can’t score a goal

 

[HuckerbyDublinWhelan]

football fans would sell their soul to the devil if it meant success

This… and I’m sick of people pretending they wouldn’t.

bring on the Middle East billions

that being said - I’ll move to ignoring their presence. The reason I hate them is they have the control over my club and they shouldn’t be here…

If someone bought both -they’d end up being second fiddle to us

 

[duffer]

A lot of these rumours do seem like trying to start a bidding war.

I thought the only way to sell something is to do it in secret like the Council?

Yep. And to do it properly, Wasps ought to state in public that they've no intention of selling it because they want to "build trust", and that they care deeply about the future of CCFC. That would be the council way.

 

[chiefdave]

Is anyone having a sniff of someone trying to start an imaginary auction before administration.

Very strong smell. We've quickly moved from everything is sorted with HSBC to refinance the bonds, to there's def no possibility of administration, to multiple investors being interested to selling the club & stadium as one, to selling the club & stadium as one but only after administration, to selling the stadium on its own. Reeks of desperation.

In any case wasn't the whole case for moving to Coventry that without owning their own stadium Wasps would cease to exist?

Some of the rumours could well have come from someone going through this thread and picking out suggestions from here of people who might potentially be interested. I know I've mentioned the NEC Group and Live Nation several times as have others.

I thought the only way to sell something is to do it in secret like the Council?

Kind of blows the we had to do it in secret there was only one possible buyer line out the water doesn't it.

 

[chiefdave]

Hasnt CCC got a share in the NEC!?

You might be thinking of Birmingham Council, they owned the NEC but they needed money after they lost a court case about underpaying female employees and it was sold of to cover the cost of that.

 

[MusicDating]

Fucking shisters should of been held accountable for that

Usual excellent historical knowledge on Onceawasp...

If the club goes in to administration, any buyer can kiss goodbye to the stadium. Coventry City Council are not allowed to be 'nice guys'. They have a duty to bring the best possible deal to their taxpayers, and that means taking back the stadium and selling to the highest bidder, likely to be NEC if all that talk is true.

 

[fernandopartridge]

NEC Group are a professional outfit, they're not going to come in and tell the football club to piss off or hike the rent to unsustainable levels. If anything they'll concentrate on the exhibition side of the business and be happy they've got a use for the stadium 20 plus event days a year

There is probably a good bit of management efficiency and their ability to market would be great for the stadium. I think an entity of their ilk taking over might be good insofar as it should end the SISU games once and for all.

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