Wasps going into admin & the impact on CCFC (129 Viewers)

[CCFCSteve]

Once administration starts the council have to take back the lease for their own security

They Rather enjoyed playing Kingmaker in 2007 I am sure they will again and I’m sure they have already been approached and advised on bond holder positioning

I don’t see that. It’s more likely that once in administration they’ll work with the administrator to find the best buyer of the stadium (and hopefully CCFC).

 

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[shmmeee]

Once administration starts the council have to take back the lease for their own security

They Rather enjoyed playing Kingmaker in 2007 I am sure they will again and I’m sure they have already been approached and advised on bond holder positioning

It’s going to get fucking silly. Well have Sisu refusing to sell the club, the council refusing to sell to Sisu, no one serious wanting to touch the whole mess with a bargepole.

While it’s fine to want Wasps gone, there’s every chance that by them losing the ground and then probably slinking back to London if recent reports are true, it’ll make it less likely to reunite CCFC with the ground. Much easier to pick it up as part of Wasps I’d guess from an administrator and not have to deal with any politics.

Really not looking forward to this season off the pitch.

 

[Grendel]

So does it look like they’ll take the lease from ACL 2006, leave the debt and sell to Mike Ashley?

I assume that’s the plan - inconceivable Ashley hadn’t already been in discussions on this

 

[jordan210]

 

[shmmeee]

I don’t see that. It’s more likely that once in administration they’ll work with the administrator to find the best buyer of the stadium (and hopefully CCFC).

I really hope that’s the case. My one hope is that this has been such a mess they just don’t want to get involved again.

 

[Grendel]

It’s going to get fucking silly. Well have Sisu refusing to sell the club, the council refusing to sell to Sisu, no one serious wanting to touch the whole mess with a bargepole.

While it’s fine to want Wasps gone, there’s every chance that by them losing the ground and then probably slinking back to London if recent reports are true, it’ll make it less likely to reunite CCFC with the ground. Much easier to pick it up as part of Wasps I’d guess from an administrator and not have to deal with any politics.

Really not looking forward to this season off the pitch.

I would be very surprised if they are not trying to create the situation so Ashley takes over the ground

 

[HuckerbyDublinWhelan]

I assume that’s the plan - inconceivable Ashley hadn’t already been in discussions on this

You’d like to think Ashley has already spoken to SISU then, things don’t seem hostile at the moment, and you can bet that SISU would be up in arms if they didn’t get the opportunity to buy it, even if they were going to low ball

 

[shmmeee]

I would be very surprised if they are not trying to create the situation so Ashley takes over the ground

What then do you reckon?

Joy holds the club ransom for a silly amount?

 

[shmmeee]

You’d like to think Ashley has already spoken to SISU then, things don’t seem hostile at the moment, and you can bet that SISU would be up in arms if they didn’t get the opportunity to buy it, even if they were going to low ball

Good time to sell. We’re bottom of the league, but got a good nucleus that with a tiny amount of investment would climb the league. Fans and manager seem to be getting restless. Clearly haven’t got the cash to play at this level. Arena suddenly available cheap.

But fuck knows what’s going on in Seppalas head.

 

[HuckerbyDublinWhelan]

What then do you reckon?

Joy holds the club ransom for a silly amount?

Good time to sell. We’re bottom of the league, but got a good nucleus that with a tiny amount of investment would climb the league. Fans and manager seem to be getting restless. Clearly haven’t got the cash to play at this level. Arena suddenly available cheap.

But fuck knows what’s going on in Seppalas head.

thats the issue. As you said best time to sell. We’re at the point where we think SISUs plan Culminates.

it’s now put up or shut up time. 8 years of distressing Wasps have worked, either buy the Ricoh, build a new ground or go

 

[Grendel]

What then do you reckon?

Joy holds the club ransom for a silly amount?

Who knows what she’s thinking but the dynamics will change

If reports are correctly Ashley has all the info and he will refinance the bonds which removes the biggest uncertainty

 

[shepardo01]

Meeting scheduled at training ground tomorrow....

 

[SHUNT31]

Who knows what she’s thinking but the dynamics will change

If reports are correctly Ashley has all the info and he will refinance the bonds which removes the biggest uncertainty

In my opinion, if Ashley gets hold of the ground SISU will be forced into selling. They will have no where else to go.

We all know their plan was to get hold of the arena, there never was going to be a new ground. If Ashley has the stadium and wants to buy CCFC it automatically puts the value of CCFC up as it would be marrying the two together.


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[Grendel]

Oooh a moment of reflection - bit late though to be fair if it happened in 2014 he’d have been hawking Haskell around

 

[Frostie]

Oooh a moment of reflection - bit late though to be fair if it happened in 2014 he’d have been hawking Haskell around

 

[Grendel]

Is that sponge on his head Jans brain?

 

[SHUNT31]

Another point, if they do merge with Irish, what happens to the training ground in Henley?

Is it too far for CCFC to be interested?


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[Grendel]

Another point, if they do merge with Irish, what happens to the training ground in Henley?

Is it too far for CCFC to be interested?


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Wasps don’t own it

 

[Gynnsthetonic]

This makes the most sense. The council have the option of pulling back the lease and controlling who it goes to next. From a rational POV I can see why they would but my god from an optics POV it’s a fucking nightmare to be playing kingmaker right now.

Leave it be and let admin play out in the hope that one or both of CCFC and Wasps come out better off for me.

I wonder what their timescales for acting are? Would they need to take a decision immediately as Wasps go into admin?

The council should leave well alone, their desicion to go ahead with the Arena project when CCFC wanted to pull out, their decision to sell to Sisu, their desicion to sell to Wasp. As long as a clause is in place to provide protection that the arena must be used primarily for football they should leave administration and new owners to get on and stop getting involved.

 

[SHUNT31]

Wasps don’t own it

No it’s owned by one of their directors though.

If they’re back in London they have absolutely zero need for it.


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[Grendel]

No it’s owned by one of their directors though.

If they’re back in London they have absolutely zero need for it.


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Its got permission for housing and has a huge retail sell on value versus purchase

 

[SHUNT31]

Its got permission for housing and has a huge retail sell on value versus purchase

Ok didn’t know that.

Could have potentially solved our issues for a new training ground.


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[Gynnsthetonic]

It’s going to get fucking silly. Well have Sisu refusing to sell the club, the council refusing to sell to Sisu, no one serious wanting to touch the whole mess with a bargepole.

While it’s fine to want Wasps gone, there’s every chance that by them losing the ground and then probably slinking back to London if recent reports are true, it’ll make it less likely to reunite CCFC with the ground. Much easier to pick it up as part of Wasps I’d guess from an administrator and not have to deal with any politics.

Really not looking forward to this season off the pitch.

Wasp must leave the city end off, to much bad blood now, they're not welcome.

 

[ovduk78]

Oooh a moment of reflection - bit late though to be fair if it happened in 2014 he’d have been hawking Haskell around

So is Jan going to come crawling back to CCFC?

 

[Gynnsthetonic]

No it’s owned by one of their directors though.

If they’re back in London they have absolutely zero need for it.


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Richardson and Holland will make millions by selling for housing in affluent Henley in Arden, the intention all along know doubt

 

[SHUNT31]

Wasp must leave the city end off, to much bad blood now, they're not welcome.

If reports are to be true, then they may well be.


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[HuckerbyDublinWhelan]

It’s going to get fucking silly. Well have Sisu refusing to sell the club, the council refusing to sell to Sisu, no one serious wanting to touch the whole mess with a bargepole.

While it’s fine to want Wasps gone, there’s every chance that by them losing the ground and then probably slinking back to London if recent reports are true, it’ll make it less likely to reunite CCFC with the ground. Much easier to pick it up as part of Wasps I’d guess from an administrator and not have to deal with any politics.

Really not looking forward to this season off the pitch.

Ashley is too smart for that. He knows the money is in Stadium + football club.

if SISU weren’t going to sell, I’m sure we’d have heard more from them in terms the Ricoh, and just in general belligerence. They’ve been silent.

im Guessing there is already dialogue between Ashley & SISU and maybe even some sort of agreement.

 

[clint van damme]

Oooh a moment of reflection - bit late though to be fair if it happened in 2014 he’d have been hawking Haskell around

I suppose he can be given some credit for holding his hands up, still a grade A prat.

 

[skybluetony176]

There’s so much shit being thrown around. Will any of it stick? The only thing that seems clear is the expectation keeps getting lower. From crossing the T’s and dotting the I’s with HSBC to exploring different finance options to tactically declaring intent to go into administration to allow extra time to refinance to extended that process to talk with several parties about a takeover to a merger with another failing club and moving back to London. There only seems one obvious option from here, liquidation and oblivion. I just can’t bring myself to believe it though. Looking forward to waking up Tuesday morning knowing once and for all what the outcome is. Only then can we move forward as a club off the field. Whatever that means.

 

[Saddlebrains]

That club tweet about Wednesday being on after being given 'assurances' has me worried

We were given assurances we'd have a pitch

 

[skybluetony176]

The council should leave well alone, their desicion to go ahead with the Arena project when CCFC wanted to pull out, their decision to sell to Sisu, their desicion to sell to Wasp. As long as a clause is in place to provide protection that the arena must be used primarily for football they should leave administration and new owners to get on and stop getting involved.

I’d even go as far as to say they should consider selling the freehold. The council needs a clean break from the whole project so they can get on with being a council.

 

[Gynnsthetonic]

There’s so much shit being thrown around. Will any of it stick? The only thing that seems clear is the expectation keeps getting lower. From crossing the T’s and dotting the I’s with HSBC to exploring different finance options to tactically declaring intent to go into administration to allow extra time to refinance to extended that process to talk with several parties about a takeover to a merger with another failing club and moving back to London. There only seems one obvious option from here, liquidation and oblivion. I just can’t bring myself to believe it though. Looking forward to waking up Tuesday morning knowing once and for all what the outcome is. Only then can we move forward as a club off the field. Whatever that means.

There must be an adequate stadium they can rent in the Greater London area, try telling them its not all about the premiership, like Cov Rfc who take coachloads to Plymouth, Cornwall, Bedford, London Scottish etc, Wasp fans (the proper ones)may even enjoy a proper day out in Cov, Craven St Earlsdon, City Centre

 

[Brighton Sky Blue]

Wonder if it could be the case that the rugby club is sold to one party who relocates it and the stadium goes to another.

 

[shmmeee]

Ashley is too smart for that. He knows the money is in Stadium + football club.

if SISU weren’t going to sell, I’m sure we’d have heard more from them in terms the Ricoh, and just in general belligerence. They’ve been silent.

im Guessing there is already dialogue between Ashley & SISU and maybe even some sort of agreement.

Oh God I hope so. I’m not ready to go back to League One Hucks!

 

[skybluetony176]

Ok didn’t know that.

Could have potentially solved our issues for a new training ground.


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We’ll end up selling Ryton and building a new training ground at the UOW. Ticks all the boxes.