Im not so sure. I don’t get the impression they’ve got loads of spare cash. whether they can raise some to fund something like the stadium purchase, who knows
Agree that this is a time for them to put up or shut up (and piss off) though
Wasps going into admin & the impact on CCFC (138 Viewers)
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Im not so sure. I don’t get the impression they’ve got loads of spare cash. whether they can raise some to fund something like the stadium purchase, who knows
Agree that this is a time for them to put up or shut up (and piss off) though
MalcSB
Well-Known Member
It won’t, for reasons in my edited post.
Agenda for Council on Tuesday, 18th October, 2022, 2.00 pm - Coventry City Council
Committees and meetings at Coventry City Counciledemocracy.coventry.gov.uk
Thanks….I’ll just await your updates though
Nick
Administrator
Why would somebody bid £35m when the lease isn't worth that?
Agenda for Council on Tuesday, 18th October, 2022, 2.00 pm - Coventry City Council
Committees and meetings at Coventry City Council
Nothing in the agenda for the council meeting but good to see Maton is still OK.
MalcSB
Well-Known Member
I don’t suppose any of us have any idea what the best part of a 250 year lease is worth. £35m would see the bondholders off on their merry way though.
olderskyblue
Well-Known Member
Cllr male, cllr Semen. There’s a joke in there somewhere….
SkyBlueCharlie9
Well-Known Member
I love watching Council meetings online.
Brighton Sky Blue
Well-Known Member
A lot of Arsecrack IPA being shared yesterday
Wasps: Administration of Premiership club had players 'bawling their eyes out' - BBC Sport
Wasps: Administration of Premiership club had players 'bawling their eyes out' - BBC Sport
Firstly no one is going to bid for the cbs until it’s gone into admin. That’s tripe talk from the administrator and he knows it. You can tell what type of guy he is already in his first interview.
Secondly SISU will bid for the cbs but you know and I know they won’t have the capital to win the bid and will use the we tried but we’re out bid to save face.
shmmeee
Well-Known Member
Agenda for Council on Tuesday, 18th October, 2022, 2.00 pm - Coventry City Council
Committees and meetings at Coventry City Council
Two more items by the looks of it then questions.
So much pointless grandstanding about national party politics I’ve got to say.
olderskyblue
Well-Known Member
Now cllr Brown…. a Rolf Harris look alike
Nick
Administrator
They couldn't get finance on it..
Grendel
Well-Known Member
That would be more the risk of the company defaulting than the lease value - I suspect anyway the HSBC loan was also associated with other consortium finance and far more in total than £35m
MalcSB
Well-Known Member
almost certainly not commercially, would existing investors stump up more if combining the club and the arena could lead to a sale? As someone else has posted, I would imagine that bidders will wait until it ends up being a fire sale under administration.
Nick
Administrator
O'Boyle has fuck all to say back in response.
Ridley is up to 8/10 on the match thread.
jordan210
Well-Known Member
Agree about parties probably only wanting to buy the stadium/long lease once the company’s gone into administration but the sale can be lined up during the accelerated sale process and completed as soon as company enters administration (pre-pack). So I’d imagine there will already be various discussions happening with interested parties on that basis.
Nick
Administrator
Wow, he has absolutely fuck all.
"If this helps the local economy and climate change then we should do it"
In regards to bailing out Tom White. Fucking hell.
I really don't trust him when it comes to bailing out Wasps.
Brighton Sky Blue
Well-Known Member
This is an
He sent me a very smarmy email back in 2014 when he said that selling to Wasps was fully consistent with Labour Party values. Wish I still had it
He sent me a very smarmy email back in 2014 when he said that selling to Wasps was fully consistent with Labour Party values. Wish I still had it
The Philosopher
Well-Known Member
It depends on the cost of money and the likely revenue streams.
Up until recently the cost of borrowing was cheap. For the sake of fag packet maths £35m might have cost 2.5 over base- call it 3% total, let’s say £1m per year.
Gov bonds yielded less so finance houses like HSBC might have refinanced ACL as part of their investment spread. This is on the basis that CCFC with rent and the add ons related brought in £1m (fagpacket again) plus any income from hotel, conferences etc., less running costs.
With CCFC paying rent it might be that ACL was potentially able to service a finance cost to HSBC of £1m per year (fagpacket).
Think how a buy to let mortgage works - kinda like that.
Now interest rates are going up it looks like HSBC needed to move the Rugby posts (pun) and £1m needed to become £2m with a line of uncertainty that it might become 3 or 4 or 5m and not workable.
olderskyblue
Well-Known Member
Another Rolf Harris look a like?
HuckerbyDublinWhelan
Well-Known Member
so I take it we’re gonna some how end up… still tenants to Wasps?
Nick
Administrator
Wow, watching this about Tom White. I can see how the Wasps shite went through.
The way Labour are defending it.
"Ridley: We shouldn't be piling more tax payer cash into a business that isn't making money"
"O'Boyle and Innes: Yeah but Lizz Truss"
Who the fuck is this Lakha bloke? Off his head. Just ranted in broken English "we should move on and just support a bailout".
The way Labour are defending it.
"Ridley: We shouldn't be piling more tax payer cash into a business that isn't making money"
"O'Boyle and Innes: Yeah but Lizz Truss"
Who the fuck is this Lakha bloke? Off his head. Just ranted in broken English "we should move on and just support a bailout".
shmmeee
Well-Known Member
Its been really poor.
Nick
Administrator
None of the labour ones are actually referencing whats said.
It's hilarious, worse than threads on here.
Nick
Administrator
Was on about a bailout for Tom White.
Ridley has had their pants down again about Labour Cllrs who are suspended for Anti Semitism but are still on licencing committees.
Irish Sky Blue
Well-Known Member
It shows his limited knowledge of the city and it’s sports clubs. He obviously doesn’t know of Cov and it’s history as one of the premier English rugby teams.
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