Wasps going into admin & the impact on CCFC (40 Viewers)

[Otis]

There's a few on Facebook and Twitter by the looks giving the faux sadness over the redundancies. It's not ideal for them obviously but people get made redundant every day, people who don't work for parasites and I absolutely will not have my enjoyment over Wasps going pop being spoiled by a few social media suck ups.

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Probably the same people who queued up for 2 and half days to see the Queen's coffin.

 

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[Nick]

Probably the same people who queued up for 2 and half days to see the Queen's coffin.

Does a cry wank over Diana count?

Asking for a friend.

 

[Briles]

There's a few on Facebook and Twitter by the looks giving the faux sadness over the redundancies. It's not ideal for them obviously but people get made redundant every day, people who don't work for parasites and I absolutely will not have my enjoyment over Wasps going pop being spoiled by a few social media suck ups.

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Its Just people taking pseudo moralistic stances on social issues in order to look good to their mates/Family. Nobody not directly affected cares.

 

[Joy Division]

Surely they must have been aware for years in advance that there was never going to be a chance to pay back the bonds. I'm not sure even the most optimistic person could have thought there would be any turnaround of fortunes, surely that must be looked into by the authorities.

Also, what happened to the money they received after selling their former ground for housing development?

 

[Johnnythespider]

My favourite so far is that they went bust because of legal fees sisu made them pay

I wish this was true

 

[Nick]

Does he even know he is / was a director?

 

[Liquid Gold]

Does he even know he is / was a director?

 

[jordan210]

 

[Nick]

Wasps: 'The past caught up with us', says Coventry-based club's CEO Stephen Vaughan

Wasps chief executive Stephen Vaughan says the Premiership club were "timed out" in their bid to be saved from administration.

www.bbc.com

How can they say they thought they were going to be able to pay the bondholders?

 

[SkyBlue_Bear83]

There's a few on Facebook and Twitter by the looks giving the faux sadness over the redundancies. It's not ideal for them obviously but people get made redundant every day, people who don't work for parasites and I absolutely will not have my enjoyment over Wasps going pop being spoiled by a few social media suck ups.

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How many of the 167 are actually full time employees I wonder?

Players and coaching staff will be fine, they will be fine. People who were in the higher management and business decisions were responsible for the mess.

 

[Grendel]

The truth is it’s exposing our vulnerability and the total bollocks about a new stadium

 

[Gynnsthetonic]

So if ACL go into Admin next week what happens then?

 

[Frostie]

It's mad how little the Wasps fans seem to know.

Maybe it was before they got given a free flag?

I was going to say this but then I guess it explains why those actually to blame (Richardson, Eastwood, Vaughan etc.) were never called to account (and still aren't). It's all everyone else's fault.

Maybe it's a lack of passion? The general apathy to it all pretty much sums up a sport which should never have gone pro.

 

[Nick]

I was going to say this but then I guess it explains why those actually to blame (Richardson, Eastwood, Vaughan etc.) were never called to account (and still aren't). It's all everyone else's fault.

Maybe it's a lack of passion? The general apathy to it all pretty much sums up a sport which should never have gone pro.

I am still going to say it, the local media too.

Bobby Bridge just copied and pasted what he was told to. How everything was rosy.

 

[jordan210]

Prem rugbys fault now

 

[ovduk78]

I was going to say this but then I guess it explains why those actually to blame (Richardson, Eastwood, Vaughan etc.) were never called to account (and still aren't). It's all everyone else's fault.

Maybe it's a lack of passion? The general apathy to it all pretty much sums up a sport which should never have gone pro.

How can Vaughan blame HSBC for not lending them the money when he himself knew what a financial mess they were in? How were they ever going to pay off the loan from HSBC when they were losing £175,000 per week?

 

[Brighton Sky Blue]

The truth is it’s exposing our vulnerability and the total bollocks about a new stadium

If we aren't sold now we're stuck with Seppalla till she dies

 

[clint van damme]

If we aren't sold now we're stuck with Seppalla till she dies

Or for some of us, until we die.

 

[Nick]

How can Vaughan blame HSBC for not lending them the money when he himself knew what a financial mess they were in? How were they ever going to pay off the loan from HSBC when they were losing £175,000 per week?

Yeah it's so fucking weird.

 

[shepardo01]

The Arena is going through an "accelerated mergers process" - being overseen by the administrator!?...
What is this??

Quote from CovTel article.

""""As for the Arena, the Arena is part of a much larger complex of businesses and are different legal entities. It hosts Wasps in rugby, it hosts Coventry City in football, it hosts concerts, that will still be in use for those activities and I am sure if in the fullness of time, there is a new owner for that business because that's going through an AMA (accelerated mergers and acquisitions) process as well, which we're running, that they would want to have Wasps as a tenant. Because obviously it's important to have the tenant for the income and I am sure that is where they would look to play.""

 

[Brighton Sky Blue]

Or for some of us, until we die.

Hopefully not. But if a Mike Ashley type doesn't go for it now I don't see her ever selling up. The club can't ever succeed while that's the case

 

[olderskyblue]

I have to be fair but just don't recall his apparent eloquence.

You won’t remember his expensive cars either then?

 

[Mcbean]

Fb wasps fans in meltdown on city fan reaction - wtf - tossers just ignorant of what effect wasps have had on the Sky Blues since the invasion

 

[AOM]

Yeah it's so fucking weird.

Seems to be working though with quite a few Wasps fans.
Eastwood and Vaughan are completely blameless in their eyes and it's everyone else's fault

 

[shmmeee]

The Arena is going through an "accelerated mergers process" - being overseen by the administrator!?...
What is this??

Quote from CovTel article.

""""As for the Arena, the Arena is part of a much larger complex of businesses and are different legal entities. It hosts Wasps in rugby, it hosts Coventry City in football, it hosts concerts, that will still be in use for those activities and I am sure if in the fullness of time, there is a new owner for that business because that's going through an AMA (accelerated mergers and acquisitions) process as well, which we're running, that they would want to have Wasps as a tenant. Because obviously it's important to have the tenant for the income and I am sure that is where they would look to play.""

“If”

Edit: wait. No.

 

[Nick]

Agenda for Council on Tuesday, 18th October, 2022, 2.00 pm - Coventry City Council

Committees and meetings at Coventry City Council

edemocracy.coventry.gov.uk

Nothing in the agenda for the council meeting but good to see Maton is still OK.

 

[Nick]

Ridley

"If there is any attempt to avoid talking about the Arena we will call an EGM?"

Whatever that means.

Maton makes a shit joke.

 

[jordan210]

Agenda for Council on Tuesday, 18th October, 2022, 2.00 pm - Coventry City Council

Committees and meetings at Coventry City Council

edemocracy.coventry.gov.uk

Nothing in the agenda for the council meeting but good to see Maton is still OK.

former Lego head now man bun said item 13 questions is when it will be

 

[chiefdave]

How can Vaughan blame HSBC for not lending them the money when he himself knew what a financial mess they were in? How were they ever going to pay off the loan from HSBC when they were losing £175,000 per week?

Seen Wasps fans saying they're closing their HSBC accounts because they didn't loan them the money

 

[shmmeee]

Ridley

"If there is any attempt to avoid talking about the Arena we will call an EGM?"

Whatever that means.

Maton makes a shit joke.

Im guessing it’s not an agenda item so could run out of time (or time could be run out for the cynical) so he’s saying if it’s not discussed can we have another meeting.

 

[SHUNT31]

Wasps' administrator gives 'confident' update but makes time admission

Wasps Holdings Limited made 167 staff members redundant on Monday

www.coventrytelegraph.net

Little bit concerned by this article, not going to lie.

I don’t want them in Coventry, full stop.

Also says an accelerated merger or acquisition is under way. Does that mean it’s already been agreed to be sold? If they are hopeful of Wasps staying as tenants then they must have had dialogue with the potential new owner over the issue. That for me, rules out Ashley and McEvoy.

May even be sisu who are the party and that they have agreed to have Wasps as tenants. Can’t see it though. My gut says it’s NEC.


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[Nick]

Maton says the public and press will be excluded to hear about the private part of the agenda.

It is anticipated that the following matters will be referred as a Recommendation from Cabinet, 11 October 2022. The report is attached. The relevant Recommendation will be circulated separately

 

[olderskyblue]

Can someone explain why bond holders should get their money back? wasnt it a risk that failed, so bad luck for them?

 

[jordan210]

Wasps' administrator gives 'confident' update but makes time admission

Wasps Holdings Limited made 167 staff members redundant on Monday

www.coventrytelegraph.net

Little bit concerned by this article, not going to lie.

I don’t want them in Coventry, full stop.

Also says an accelerated merger or acquisition is under way. Does that mean it’s already been agreed to be sold? If they are hopeful of Wasps staying as tenants then they must have had dialogue with the potential new owner over the issue. That for me, rules out Ashley and McEvoy.

May even be sisu who are the party and that they have agreed to have Wasps as tenants. Can’t see it though. My gut says it’s NEC.


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This line is odd

The real thrust now, must be to find a preferred party. We've been talking to somebody today, and are reasonably hopeful, confident, I would say that tomorrow we will be pushing them forward and pushing them in front of the RFU to get that process going.


Why would you talk to the RFU about the arena sale ?

its almost as if who ever gave that interview is confused about what's going on

 

[SHUNT31]

This line is odd

The real thrust now, must be to find a preferred party. We've been talking to somebody today, and are reasonably hopeful, confident, I would say that tomorrow we will be pushing them forward and pushing them in front of the RFU to get that process going.


Why would you talk to the RFU about the arena sale ?

He’s not. He’s talking about Wasps Holdings, not ACL.


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