Wasps going into admin & the impact on CCFC (156 Viewers)

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SBT

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robbiekeane said:
Maybe for the supporters who supported them in London etc but screw the rest of them. The difference in your scenario is that city fans weren’t laughing at any other clubs or bragging about the situation
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Was that a widespread thing among Wasps fans then? Or was that just the weirdos?
 
Philosoraptor

Philosoraptor

Well-Known Member
These people's voice has largely been ignored. Always a timely reminder to show solidarity no matter what sport you support.
 
mds

mds

Well-Known Member
Im a sad fucker, really I am!
When the reports first broke of the initial admin news I couldnt stop smiling, even had a little giggle and laugh out loud, and again today, a big cheesy grin, a giggle and laugh out loud.

I never in a million years thought Wasps could make me feel so good............but here we are!
 
Irish Sky Blue

Irish Sky Blue

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Skyblueweeman said:
I think to be fair, that pretty much everyone on here has expressed some form of sympathy for the original supporters of Wasps - the ones from down South who went regularly and ended up with their club ripped away from them and moved 100 miles without a second thought about that original fanbase.

Any 'gloating' is for the demise of a divisive club who've shown no issue with turning up in a city with a top two tier rugby club already in existence, taking potential fan base from said rugby club and our own CCFC, a club who picked up a stadium built for us on the cheap (I know CCC are complicit), a club who weren't bothered about the folk of Henley when it came to taking a facility of them, a club who have taken £35 million from folk to finance a stadium they haven't been able to afford, a club that owe HMRC a few million, a club that likely owe local suppliers some much needed cash flow.

Original fans like your Tinder match, I do feel sorry for. But I don't so anyone gloating at such fans.
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Also they were going to muscle in and boot the CCFC academy from the Higgs (admittedly given the opportunity by Fisher’s stupid comments about not needing the Higgs). I remember the desperate days after this of Fisher looking at school playing fields as possible academy sites. It seemed like they were trying to drive us out.
No sympathy for Wasps the club, those people in the area who chose to become Wasps ‘fans’ or the money men who have brought all this about. They are a franchise and deserve all they get. I am sorry for the ordinary people who will lose their jobs and for local suppliers who are likely to lose out. I will be pleased for the genuine Wasps fans who will hopefully get their club back. Most of all I am pleased for all connected with CCFC as it is a possible first step back to uniting club and stadium.
 
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Earlsdon_Skyblue1

Earlsdon_Skyblue1

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This whole thing with Wasps is like finding there's another biscuit left at the bottom of the packet when you thought it was empty. Except at the moment the packet actually seems to be bottomless.

Not sure about this American bloke though. First impressions remind me of the guy who did Fyre Festival.
 
Nick

Nick

Administrator
Same bloke who said it was all made up and was fine



As for financial turmoil, I don’t think so. The rugby is only a small part of the business at Wasps nowadays and it’s an important part but the hotel and the casino and everything else that goes with it are providing very healthy incomes for the club.
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tisza

tisza

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Liquid Gold said:
Should have taken admin when it was on the horizon at Adams Park, they could have consolidated back in London and been back by now.

Instead they blindly followed an unscrupulous c**t who was happy to fuck us over in the process and gloat about it on top.

They deserve this.
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Probably a point many original Wasps fans are making atm.
Shot for the stars and missed. A fate too many football clubs know too well
 
Philosoraptor

Philosoraptor

Well-Known Member
Waiting on a statement from CCC.


QUOTE="MusicDating, post: 2605883, member: 2140"]
From the prospectus -

Risks relating the head lease of the Arena granted to ACL2006

Under the terms of the head lease granted by Coventry City Council (“CCC”) to Arena Coventry (2006) Limited (“ACL2006”) in respect of the Arena (the “Head Lease”), CCC have reserved the right to forfeit the Head Lease if ACL2006 becomes insolvent.

Insolvency in this scenario means a situation where ACL2006 becomes unable to pay its debts, has a receiver/administrator/provisional liquidator appointed over its assets, has assets seized in order to pay debts of ACL2006 or has a winding-up order made against it.

The effect of forfeiture would be that the 250 year Head Lease would fall away and that ACL would then become the tenant of CCC at the Arena for the remaining 38 years of its existing lease.

However, the right of CCC to claim forfeiture of the Head Lease is not an automatic right. If CCC made a claim for such forfeiture, this could be contested by ACL2006, any third party that held security over ACL2006 and any subtenants of ACL2006 by making application to a court in England.

Further, if an administrator was to be appointed over the assets of ACL2006, then CCC would not be able to forfeit the Head Lease without the consent of the appointed administrator or with the leave of the courts.
[/QUOTE]
 
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