Wasps going into admin & the impact on CCFC (32 Viewers)

[GIMOC]

emailed mine, they're all conservatives and routinely ignore emails but still got to give it a try

why you mentioning tories when it’s Labour making all the decisions? Tory councillor says they have no say

 

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[Nick]

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

Is that serious? Which email address did you send it to?

 

[tisza]

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.

Wouldn't have been finished without the original Council finances but it was a business arrangement rather than a handout / bail out

 

[Grendel]

It would cost £100 million so I doubt it’s going to be a bail out

 

[Bugsy]

Is that serious? Which email address did you send it to?

yes it is serious, used this one [email protected]

 

[Nick]

It would cost £100 million so I doubt it’s going to be a bail out

Guessing it will be something to stop them being relegated and losing the ground.

Whereas when it's ccfc they pull the trigger.

 

[HuckerbyDublinWhelan]

yes it is serious, used this one [email protected]

So what on earth are they meeting for?

 

[Liquid Gold]

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

Can you go back to him as he's responding and ask if there is any other kind of support on offer to them?

 

[Deleted member 5849]

Out of 54 councillors 39 are Labour. If they vote in favour of it tonight then that's it.

why you mentioning tories when it’s Labour making all the decisions? Tory councillor says they have no say

He's mentioning they're Conservatives because they won;t be in said meeting. He's mentioning they never respond to emails as pointing out how even if they did, it would be pointless emailing them.

But he's doing it anyway for shits and giggles.

 

[SHUNT31]

My guess is they are going to buy back the lease possibly? Is that possible when the lease reverts back to them in the event of insolvency anyway?

Even if so, they that doesn’t cover the issues over the other debt.

Really struggling to understand the motive behind this one.


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[jordan210]

It would cost £100 million so I doubt it’s going to be a bail out

Dint wasps say they just need a bridging loan to keep them going till a buyer is found. or some shite like that

 

[Gynnsthetonic]

Guessing it will be something to stop them being relegated and losing the ground.

Whereas when it's ccfc they pull the trigger.

Might be so the council keep hold of the ground to stop it going to a third party

 

[jordan210]

Jokes on us when the council vote to remove the lease from wasps. wont we all look silly....

 

[Nick]

To be fair I got a quick reply. No meeting apparently.

 

[SHUNT31]

Might be so the council keep hold of the ground to stop it going to a third party

They have to act in the interests of the tax payer. As they spouted numerous time when selling the lease to wasps in the first place.

Not only that, the bondholders have 1st charge and can force a sale of the lease themselves anyway.


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[HuckerbyDublinWhelan]

To be fair I got a quick reply. No meeting apparently. View attachment 26577

So what the hell has Gilbert been told?

 

[Deleted member 5849]

Jokes on us when the council vote to remove the lease from wasps. wont we all look silly....

Depends for what motive, and with what compensation.

 

[SHUNT31]

To be fair I got a quick reply. No meeting apparently. View attachment 26577

Sounds like a backtrack to me


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[Liquid Gold]

 

[sotvtoday]

How are they raping it you clown?

Management fees.
Loans at excessive interest rates.
Shortly followed by a hefty rental amount.

 

[SBS]

Get in touch with your local councillors and tell them they will lose your vote if this is passed.

Have done and encourage everyone else to do the same!

 

[Ash]

To be fair I got a quick reply. No meeting apparently. View attachment 26577

Has this all been a massive wind up then?!

 

[hill83]

Is that serious? Which email address did you send it to?

Offering out free penis extensions and hot single women in your area as well

 

[Liquid Gold]

Sounds like a backtrack to me


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Hopefully [emoji 63738]

 

[HuckerbyDublinWhelan]

To be fair I got a quick reply. No meeting apparently. View attachment 26577

Is it worth tweeting this to Gilbert and Bridge see who’s lying then

 

[Nick]

So what the hell has Gilbert been told?

Imagine if sisu told him it to stir up some anger. Would be genius, too genius for them.

 

[TomRad85]

So what the hell has Gilbert been told?

To create mayhem for attention?

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[Calista]

If the purpose of this is some kind of short-term deal to protect the interests of HMRC or to keep the stadium operational, it’s questionable but understandable.

If it’s somehow necessary to reduce the Council’s financial losses (bonds?) it makes the whole monumental cockup even worse.

If it involves injection of funds in an attempt to bail out Wasps and keep them in Coventry it’s probably the most disgraceful decision by a public body I’ve ever known.

And if the effect is to put off new potential investors in the stadium and CCFC I’ll be getting that pitchfork out.

 

[Nick]

Offering out free penis extensions and hot single women in your area as well

Still waiting for my 6 pack tablets.

 

[wingy]

Bondholders don't get charge over lease acted upon if no administration.

 

[Samo]

Just received this response from a counselor, looks like the meeting is on:

Dear ......,

Many thanks for your email and passing on your concerns.

I take these considerations very seriously, and I will ensure that your perspective is represented to Council before any decision is made, either this evening or Monday.

Best wishes,

 

[Liquid Gold]

As Duggins is a mega bastard is he just trying to calm protests/complaints etc. before having the meeting anyway?

 

[jordan210]

Depends for what motive, and with what compensation.

 

[Gynnsthetonic]

To be fair I got a quick reply. No meeting apparently. View attachment 26577

Ffs, I've got 200 eggs in my boot I've just bought

 

[jordan210]

Makes it even fishers with some councillors saying its on and other saying it isn't.

So who Is lying