Wasps going into admin & the impact on CCFC (237 Viewers)

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Esoterica

Esoterica

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RIP Wasps

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Sky Blue Harry H

Sky Blue Harry H

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Shugs

Let’s be clear - there’s still a huge amount to happen here. We don’t know if we’ll be relegated or lose our P share. Once the emphasis shifted from financing the debt to seeking a takeover that was always going to happen in administration. People with the sort of money to buy the level of assets in the mix don’t get that much of it by spaffing it up the wall on a regular basis when they don’t have to. So now we’ll see if any of them are serious. There’s a huge mix of alternatives with Wasps the rugby entity not being of standout appeal but we don’t know. There is a huge amount to happen in this yet.

 
D

Deleted member 5849

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Grendel said:
You have to have some sympathy for the supporters who have been with the club for years.

They are just an odd nomadic club that seems to totally accept the moving around is part of their being

it’s worth remembering a lot of people have been taken in by the total nonsense Sisu have spouted about new grounds so glass houses and all that

They have been sold down the river by their owners who have lied and denied everything and I suspect the end is pretty close but i think we should refrain a bit from gloating as if the FL hadn’t bent over backwards when we decided to wander round the midlands this could have Been us
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To a degree yes but, much as MK Dons shouldn't exist, the same applies here. And yes, that's unfortunate for the fans who've been beaten about, but is where we're at.
 
Hutch11

Hutch11

Well-Known Member
Sky Blue Harry H said:
Shugs

Let’s be clear - there’s still a huge amount to happen here. We don’t know if we’ll be relegated or lose our P share. Once the emphasis shifted from financing the debt to seeking a takeover that was always going to happen in administration. People with the sort of money to buy the level of assets in the mix don’t get that much of it by spaffing it up the wall on a regular basis when they don’t have to. So now we’ll see if any of them are serious. There’s a huge mix of alternatives with Wasps the rugby entity not being of standout appeal but we don’t know. There is a huge amount to happen in this yet.

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😄
 
S

SBT

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Deleted member 5849 said:
To a degree yes but, much as MK Dons shouldn't exist, the same applies here. And yes, that's unfortunate for the fans who've been beaten about, but is where we're at.
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Is rugby really that important to people that moving a team has the same impact as an MK Dons/Wimbledon situation? Yeah, Wasps moving into the Ricoh fucked us over and was worth getting angry about - I just never understood the outrage over moving a rugby team from one city to another.
 
D

Deleted member 5849

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SBT said:
Is rugby really that important to people that moving a team has the same impact as an MK Dons/Wimbledon situation? Yeah, Wasps moving into the Ricoh fucked us over and was worth getting angry about - I just never understood the outrage over moving a rugby team from one city to another.
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Yes, it's exactly the same principle. And Cov Rugby have a far more successful and high profile history than just about every other Rugby club.

It shouldn't happen, and that's that.
 
CCFC_Irish

CCFC_Irish

Well-Known Member
Sky Blue Harry H said:
Shugs

Let’s be clear - there’s still a huge amount to happen here. We don’t know if we’ll be relegated or lose our P share. Once the emphasis shifted from financing the debt to seeking a takeover that was always going to happen in administration. People with the sort of money to buy the level of assets in the mix don’t get that much of it by spaffing it up the wall on a regular basis when they don’t have to. So now we’ll see if any of them are serious. There’s a huge mix of alternatives with Wasps the rugby entity not being of standout appeal but we don’t know. There is a huge amount to happen in this yet.

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Nobody bought warriors, if I were to buy a team I would look at Wasps RFC who have an average attendance of 9k in a 30k+ stadium and are not even reaching half of that. They are a team in the premiership of English rugby. Coventry City FC on the other hand have an average attendance of almost double that and they are not even in the top division of English football. IF Coventry were to have success in terms of making it to the play-offs or promotion, I would expect home games to sell-out on almost every occasion. Coventry isn't small but it isn't big and the success will drive up revenue, this would increase the business in other CBS arena based functions such as the hotel - away fans need somewhere to stay.
 
S

Sizzler

Well-Known Member
Just going to point out that the Wasps fans are not represented by a small minority of vocal arseholes, but thankfully, City fans are also not represented by a small minority of vocal arseholes.
 
Nick

Nick

Administrator
CCFC_Irish said:
Nobody bought warriors, if I were to buy a team I would look at Wasps RFC who have an average attendance of 9k in a 30k+ stadium and are not even reaching half of that. They are a team in the premiership of English rugby. Coventry City FC on the other hand have an average attendance of almost double that and they are not even in the top division of English football. IF Coventry were to have success in terms of making it to the play-offs or promotion, I would expect home games to sell-out on almost every occasion. Coventry isn't small but it isn't big and the success will drive up revenue, this would increase the business in other CBS arena based functions such as the hotel - away fans need somewhere to stay.
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They won't be in the Premiership for long.
 
shmmeee

shmmeee

Well-Known Member
SBT said:
Is rugby really that important to people that moving a team has the same impact as an MK Dons/Wimbledon situation? Yeah, Wasps moving into the Ricoh fucked us over and was worth getting angry about - I just never understood the outrage over moving a rugby team from one city to another.
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Ive asked this and why other sports like Ice Hockey that have done the same aren’t lambasted. It’s about Cov Rugby being here already seems the most cogent answer.
 
RegTheDonk

RegTheDonk

Well-Known Member
Sky Blue Harry H said:
Shugs

Let’s be clear - there’s still a huge amount to happen here. We don’t know if we’ll be relegated or lose our P share. Once the emphasis shifted from financing the debt to seeking a takeover that was always going to happen in administration. People with the sort of money to buy the level of assets in the mix don’t get that much of it by spaffing it up the wall on a regular basis when they don’t have to. So now we’ll see if any of them are serious. There’s a huge mix of alternatives with Wasps the rugby entity not being of standout appeal but we don’t know. There is a huge amount to happen in this yet.

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Wasps "suspended" on Mids Today.
 
Sky Blue Harry H

Sky Blue Harry H

Well-Known Member
Wasps embedded in our community ????

In reply to Shugs 'it's being covered on CWR'

Sorry shugs seriously dump what is CWR

(can't even spell dumb!)
 
duffer

duffer

Well-Known Member
fernandopartridge said:
Any 3rd party will be the bondholders. I don’t see how the council will be able to revoke the lease. In my opinion it will be sold to the administrators favoured party and the proceeds distributed to the bondholders at a discounted rate. If the admin procedure is anything like CCFC’s, this may be bad news for us as it could still end up in Wasps hands, albeit under a different entity.
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Far from an expert on the admin process but wasn't the reason that Otium were the preferred bidder when Sisu put the club into admin because effectively the debt was owed to Sisu. So in theory Otium's offer to repay nearly all the debt (by just moving money around) represented the best offer for the creditors (Sisu). This is a bit different as the debt is owed to HMRC, bond holders and other external parties. Ie. Wasps under a different guise couldn't fabricate a best offer for the rugby club.
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Richardson is a big creditor though and its whether there is any precedence in the debts which is the big issue. I still think that a likely outcome of this process is that another Richardson controlled entity is able to buy the assets.
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Precedence is bondholders then HMRC. Whatever's left after that goes to the other creditors.
 
kingfield park skyblues

kingfield park skyblues

Well-Known Member
Sisu are making money from ccfc,they will only sell at their price. The price is too inflated says Simon Jordan.So be prepared for nec or michael Ashley owning the stadium..Then watch the financial madness
 
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