Grendel
Well-Known Member
Its a different situation and the Rugby element has to be built up again. Its possible but not the same manufactured admin Sisu created
Wasps going into admin & the impact on CCFC (41 Viewers)
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Its a different situation and the Rugby element has to be built up again. Its possible but not the same manufactured admin Sisu created
Nick
Administrator
No I get that because they were the only ones owed.
How much different is it with the tax man and bondholders?
skybluetony176
Well-Known Member
Just looked at the accounts for ACL & ACL 2006 in 2020 (last period of filled accounts) and it looks like this profitable group of companies barely made £10k in combined profit as I read it.
What was interesting was when I searched companies house I initially searched under ACL not Arena Coventry and top of the list for companies starting with ACL was this newly registered overseas company. I’m sure it’s a coincidence and unconnected but still.
find-and-update.company-information.service.gov.uk
What was interesting was when I searched companies house I initially searched under ACL not Arena Coventry and top of the list for companies starting with ACL was this newly registered overseas company. I’m sure it’s a coincidence and unconnected but still.
ACL DEVELOPMENT LIMITED overview - Find and update company information - GOV.UK
ACL DEVELOPMENT LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity
find-and-update.company-information.service.gov.uk
COVKIDSNEVERQUIT
Well-Known Member
Senior Vick from Alicante
Well-Known Member
It makes you laugh really if that happens. Hes basically mugged off a load of bond holders to pay off the debts to both him and the council and would end up with the arena for a lot less than the 36 million. legal theft.
Grendel
Well-Known Member
Sisu had a trail of manufactured debt to protect the bid and I fail to see his motive anymore in truth
TomRad85
Well-Known Member
Surely we won't be seeing that crafty fucker again. That would be madness.
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Only if he’s the highest bidder, unless something happens prior to administration
As has been mentioned before this is different to CCFC admin where SISU were by far the largest creditor and only one with security. Basically they picked their own administrator and were the only ones with a real economic interest in the outcome so could control/influence everything
ccfcrob
Well-Known Member
You seem suprised
Nick
Administrator
Yeah in theory, I just can't see how he won't have any further tricks up his sleeve?
I doubt that would be allowed to happen and would create such a shit show if it was allowed like never before.
yeah, who knows. Just got to see how it plays out
shmmeee
Well-Known Member
Seems pretty much what you’d expect, good to hear they’re leaving it up to the administrator. One area for wiggle room is they’d want regeneration plans, but you’d expect any bidder worth their salt (so maybe not Sisu) would be able to put something together to get past that. Good to hear no bridge funding for the stay of execution for ACL.
Wish we could get a camera in that “History of the Arena” meeting he suggested though
So two weeks is the first deadline, sounds positive that it’ll be resolved by then. If not then into admin, I suspect that’s what Sisu are waiting for but sounds like it won’t get that far. Also sounds like the plan is get Wasps and the Arena in the next week and try and keep the club afloat. Just got to wait and see who bids.
On another note: shocking answer there from Khan, knew he was a prick since he blocked me into my road when canvassing.
Wish we could get a camera in that “History of the Arena” meeting he suggested though
So two weeks is the first deadline, sounds positive that it’ll be resolved by then. If not then into admin, I suspect that’s what Sisu are waiting for but sounds like it won’t get that far. Also sounds like the plan is get Wasps and the Arena in the next week and try and keep the club afloat. Just got to wait and see who bids.
On another note: shocking answer there from Khan, knew he was a prick since he blocked me into my road when canvassing.
TomRad85
Well-Known Member
Why would they not want sports involved? Look at Wasps as an example of how good of a decision alienating the football club was. You want locals on side.
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We’ve got a ten year lease though, more than sufficient time to build a new stadium !
GIMOC
Well-Known Member
who knows.but rumours of NEC are gathering pace and they are not interested in the sports side. More the exhibitions and concerts. Only time will tell
Grendel
Well-Known Member
Seems pretty much what you’d expect, good to hear they’re leaving it up to the administrator. One area for wiggle room is they’d want regeneration plans, but you’d expect any bidder worth their salt (so maybe not Sisu) would be able to put something together to get past that. Good to hear no bridge funding for the stay of execution for ACL.
Wish we could get a camera in that “History of the Arena” meeting he suggested though
So two weeks is the first deadline, sounds positive that it’ll be resolved by then. If not then into admin, I suspect that’s what Sisu are waiting for but sounds like it won’t get that far. Also sounds like the plan is get Wasps and the Arena in the next week and try and keep the club afloat. Just got to wait and see who bids.
On another note: shocking answer there from Khan, knew he was a prick since he blocked me into my road when canvassing.
Don't know why you say that - the Dumb as Fuck Council though Richardson would develop. Sepalla could just stick a Hotel application for build in her name then do nothing about it
GIMOC
Well-Known Member
not once it goes into administration
Gynnsthetonic
Well-Known Member
As the freeholder there is hopefully something in place to protect it, we also have a lease
shmmeee
Well-Known Member
You knack for spotting humour not diminished then. It was a playful reference to Sisus complete inability to do even the most basic attempts at cosying up to partners. But “whoosh” I guess
Gynnsthetonic
Well-Known Member
We still have a lease
shmmeee
Well-Known Member
You hope so, but equally you’d have thought if that was the case then that’s the obvious answer rather than “Well obviously no one would kick the club out” (which I agree with but sounds more hope than we have a cast iron legal clause)
Brighton Sky Blue
Well-Known Member
We just desperately need someone who wants to buy the club and ground. We aren’t getting another chance-a stadium management company won’t do a Wasps
TomRad85
Well-Known Member
NEC is the worst case from the list of rumours but I'd still rather be their tennants than tennants of Wasps. Can't see the logic in them turfing out the football club.
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D
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Better Carlsberg than Tennents
Grendel
Well-Known Member
You knack for spotting humour not diminished then. It was a playful reference to Sisus complete inability to do even the most basic attempts at cosying up to partners. But “whoosh” I guess
The Council were never partners were they? Your sterling defence of these idiots in allowing a totally inept company to take the "community asset" and run it into the ground is hardly a source of amusement
GIMOC
Well-Known Member
but going by the meeting today. it’s out of everyone hands. no guarantees we will be playing there in 2 weeks time. listen back and the words used. duggins emphasised the word ‘ambition to keep the club’ in the city
Joy Division
Well-Known Member
Ridley on the right there just logging on to skybluestalk
duffer
Well-Known Member
Conveniently ignoring the fact that every Councillor voted for the deal on the understanding that it would not negatively impact either CCFC or CRFC.
Basically they accepted a load of promises from Wasps, "play on Sundays", "build a training ground and create jobs in the city", "always a place for CCFC", and did literally nothing to make the deal legally contingent on those promises.
They also gave zero consideration to the impact on the club of being frozen out of any income from the arena.
Last but not least, they did it all in secret and never offered anything even close to the deal that Wasps got to the club.
That deal was either incompetent or malignant, and has been the primary source of our woes ever since. Cllr Duggins to try to deflect by saying "you voted for it too", is just piss poor.
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Brighton Sky Blue
Well-Known Member
Looks like he’s on SkyBlueSamHub
Calista
Well-Known Member
For the last time, it's Heineken
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