Wasps going into admin & the impact on CCFC (14 Viewers)

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Senior Vick from Alicante

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Are the council moving just to make sure that the stadium remains operational so things like football and the casino can continue to operate? One would imagine that the stadium could be locked by the bond holders if they own it effectively, Wasps training ground was locked up immediately.
 

hutch1972

Well-Known Member
I’m not entirely sure whether “state aid” is “illegal” since Brexit.
State aid is no longer a problem, but innopropriate use of taxpayers money during these times is complete fuckwittery. Both Wasps and CCC are hiding some dirty little secrets somewhere.
 

mr_monkey

Well-Known Member
Nope. Hope it’s voted down. Would be a ridiculous waste of taxpayer money and completely unprecedented. The arena has interest, let it and Wasps self made demise play out.

The positive of all the wasps stuff, proper forum love in 😍

(Will be back to calling each other cunts soon I'm sure 😂)
 

wingy

Well-Known Member
Are the council moving just to make sure that the stadium remains operational so things like football and the casino can continue to operate? One would imagine that the stadium could be locked by the bond holders if they own it effectively, Wasps training ground was locked up immediately.
They wouldn't have to do this until they're actually in admin?
 

HuckerbyDublinWhelan

Well-Known Member
State aid is no longer a problem, but innopropriate use of taxpayers money during these times is complete fuckwittery. Both Wasps and CCC are hiding some dirty little secrets somewhere.
Pretty sure we have our own state aid laws.

Either way, it’s going to kick the can - it’ll be enough to pay off HMRC (2m) so they can’t force admin

wasps have terminal problems - it’s going to happen regardless
 

ccfcrob

Well-Known Member
Being as sad as I am, I have added the attendance of every "home" Wasps fixture since moving to the city taken from the Gallagher Premier League website.

Total 1,132,453.

They played 79 league games during this time. (I have not added the fixtures with 0 attendance due to Covid.

This averages out as 14,334.

Now lets be very generous and say that 70% of tickets were paid for.

That would be 792,717 paid bums on seats.

This figure averages out over the 79 games as 10,034.

Id say that this is beyond generous as at times over the last 2 seasons they have had gates of below 7000.

In comparison, our average home league attendance (according to google) was 9255 in LEAGUE TWO.

Our average home league attendance (Cov Tel) was 6443 at ST. ANDREWS.
 

TomRad85

Well-Known Member
I just can't understand the justification. The club is doomed to fail, so what's the point? Will they just try this again... and again... and again...

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Travs

Well-Known Member
When the council "stepped in" with assistance in the construction of the Ricoh Arena.... are they still owed money from that?

I assume that is the "debt" which is saddled over the arena.... is that still owed to council, or is it somewhere else (bondholders?)
 

hutch1972

Well-Known Member
Pretty sure we have our own state aid laws.

Either way, it’s going to kick the can - it’ll be enough to pay off HMRC (2m) so they can’t force admin

wasps have terminal problems - it’s going to happen regardless
True, we still have our own state aid, but it is very relaxed compared to European laws. If CCC don't need the hassle and cost of the arena, may I suggest they just sell the freehold and wash their hands of it completely.
 

wingy

Well-Known Member
When the council "stepped in" with assistance in the construction of the Ricoh Arena.... are they still owed money from that?

I assume that is the "debt" which is saddled over the arena.... is that still owed to council, or is it somewhere else (bondholders?)
The latter plus some.
Nothing due to the council AFAIK.
 

tisza

Well-Known Member
When the council "stepped in" with assistance in the construction of the Ricoh Arena.... are they still owed money from that?

I assume that is the "debt" which is saddled over the arena.... is that still owed to council, or is it somewhere else (bondholders?)
No. They took over CCFC's part of ACL. Then outstanding loan was eventually cleared by the money from this bond being used to settle the loan CCC had put in. Basically it was the court case.
Roughly speaking the bond holders have "loaned" Wasps the money to clear the Council's debt with ACL.
 

Travs

Well-Known Member
No. They took over CCFC's part of ACL. Then outstanding loan was eventually cleared by the money from this bond being used to settle the loan CCC had put in. Basically it was the court case.
Roughly speaking the bond holders have "loaned" Wasps the money to clear the Council's debt with ACL.

Thank you.

I was just seeing if there was any angle from the council point of view that they helped bail out CCFC/the construction of the ground.

Seems not.
 

Bugsy

Well-Known Member
Just got a responce from my email sent to Mr Duggins

Duggins, George (Cllr)
14:34 (4 minutes ago)
to me

Dear Mr ********

Thank you for your email.

There will be no financial package being made available to Wasps.

Best wishes

George
 

Grendel

Well-Known Member


giphy.gif
 

TomRad85

Well-Known Member
Just occurred to me, is this real or just satire? Very funny lads, almost had me there with the classic council bailing out Wasps routine.

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