Wasps going into admin & the impact on CCFC (109 Viewers)

[Philosoraptor]

Today's SBT word from dictionary corner..

 

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[Nick]

Surely the council should have had a plan for every situation??

 

[torchomatic]

wasps.exe has crashed and stopped responding

Wait -------- End Task

 

[JAM See]

Sounds like they're hawking around for a buyer after they enter administration.

Could this be similar to the Leicester City situation c.2002?

Clean start with the creditors shafted.

 

[Silsden]

Are we a creditor after paying for some/all of the pitch repairs?

 

[jordan210]

Are we a creditor after paying for some/all of the pitch repairs?

Rumour from wasps board was a rich cov fan paid for it. So Overson id guess

 

[robbiethemole]

Does this mean the RL games now won’t go ahead, so the pitch won’t be fucked up again

 

[pusbccfc]

Are we a creditor after paying for some/all of the pitch repairs?

The Commonwealth Games paid for it.

 

[Joy Division]

With these latest developments I'd be surprised if the Sheffield United game will go ahead

 

[torchomatic]

With these latest developments I'd be surprised if the Sheffield United game will go ahead

I wouldn't think that will be in danger. Administrators will want all the income they can get.

 

[Liquid Gold]

They really have no idea how insignificant their stupid sport is

"What I find interesting is the different treatment of rugby to football. If it were CCFC in administration there is no doubt that (unless they are a complete basket case like Bury) the administrator would find a buyer. The rumours are that Morecombe will go into administration soon (as collateral damage from Worcester going bust), but there is no doubt in the minds of fans that they will just be sold and carry on, albeit with a points deduction. Nowhere does anyone think they will be wound up, but here we are being wound up but with probably more prospects on or off the field than a club like Morecombe. I guess there must be different laws applying to football clubs than normal businesses. "

 

[chiefdave]

The rumours are that Morecombe will go into administration soon (as collateral damage from Worcester going bust)

How do Morecombe end up in admin because Worcester have gone bust, whats the connection?

 

[MalcSB]

How do Morecombe end up in admin because Worcester have gone bust, whats the connection?

Same owners I think.

 

[HuckerbyDublinWhelan]

They really have no idea how insignificant their stupid sport is

"What I find interesting is the different treatment of rugby to football. If it were CCFC in administration there is no doubt that (unless they are a complete basket case like Bury) the administrator would find a buyer. The rumours are that Morecombe will go into administration soon (as collateral damage from Worcester going bust), but there is no doubt in the minds of fans that they will just be sold and carry on, albeit with a points deduction. Nowhere does anyone think they will be wound up, but here we are being wound up but with probably more prospects on or off the field than a club like Morecombe. I guess there must be different laws applying to football clubs than normal businesses. "

This - this is why they have that chip on their shoulder, they’re supposed to be this proper sport, a higher standard.

they can’t stomach that football is and always will be a bigger sport.

the best part is in their hour of need, Investors are not interested in wasps - it’s all about picking the carcass for a stadium so they can get at a bottom of the league 2nd tier club

 

[wingy]

For reference how much was Ashley bidding in his pursuit of Derby?

 

[Colin Steins Smile]

For reference how much was Ashley bidding in his pursuit of Derby?

I’ve no idea , but Pride park was sold for between £20-22m. As for DCFC Im guessing at another £30m

 

[napolimp]

What actually happens once the administrators move in? I'm assuming they are going to sell Wasps assets - so the stadium - which isn't going to fetch any more than 25 mil surely, especially with the repairs. Expenses are paid, HMRC are paid, and then the rest goes to the bondholders? I'm sure there's going to be a queue to buy the stadium, but no one's going to want wasps surely?

 

[Liquid Gold]

"Football fans showing they have no class again"

 

[PUSB-We_are_going_up]

Just awaiting the Coventry City takeover news now, had another shitty day but this news has bloody well cheered me up. Finally someone used the insecticide

 

[theferret]

I wouldn't think that will be in danger. Administrators will want all the income they can get.

That's of course true, but it may be that there just isn't time ahead of next Wednesday. In a normal season we miss a game and FL don't care, but this season that may put us in a spot of bother.

 

[Brighton Sky Blue]

Sounds like a job for

The Fumigator

 

[MAFF]

pathetic

 

[Terry Gibson's perm]

pathetic

The heart of what community not one in Coventry.

 

[torchomatic]

It is true the lease may give rise to a right to forfeit if the tenant enters into some kind of insolvency regime but there are restrictions on that", a statement from the Council read.

"We continue to monitor the situation and will act in the best interests of Coventry City Council and the arena asset.

"We are closely monitoring the situation and we are engaging with advisors and some potentially interested parties if requested as part of the process, in line with our role and responsibilities as freeholder of the asset."

 

[PUSB-We_are_going_up]

Time for a clean up of all the pesky shit in the coventry area

 

[Terry Gibson's perm]

The training ground shuffle looks a bit iffy now

 

[HuckerbyDublinWhelan]

That Pshare is bollocks. Why should they be allowed the money if they’re not in the premiership?

that’s effectively creating the parachute payments in Rugby

 

[robbiethemole]

That's of course true, but it may be that there just isn't time ahead of next Wednesday. In a normal season we miss a game and FL don't care, but this season that may put us in a spot of bother.

Surely that would be under the heading “ circumstances beyond our control”

 

[Brighton Sky Blue]

They had everything stacked in their favour. Owner willing to plough in millions, council bending over backwards to help and get them the ground on the cheap, football club in disarray and giving them money for the privilege, the CVC payments etc.

Yet this is what they do with it. And what takes the piss more than all that is that ridiculous insect logo plastered over everything. That can be the first thing to go

 

[Nick]

I dont get why they are blaming the Rugby Authorities for it?

 

[robbiethemole]

Council officers up to their necks in getting them here, questions over their judgement in allowing a dodgy hedge fund to take control of the Arena and taking a bond as security against it need asking. Just what they stopped SISU doing

 

[AOM]

Still feel we'll be shafted in some way in all of this

 

[tisza]

pathetic

They were at the heart of their rugby community in part of London before they threw them aside.

 

[tisza]

Still feel we'll be shafted in some way in all of this

Not sure we'll get shafted but got a feeling we aren't going to benefit in any major way.

 

[duffer]

People are deluded, wasps were charging coventry city below market rent.The big American investors will want market rent or get out

Absolutely. Who the fuck would want a business at the CBS that brings in a substantial footfall to the rest of the tenants, and gets nationwide coverage. And Wasps were doing us a favour?

I know where I think the delusion lies here.