Wasps going into admin & the impact on CCFC (231 Viewers)

[Grendel]

Electricity bills, security, paying wages of ACL staff. That’s the gap that needs bridging this week and next. So that’s my question: if funding is needed (which common sense and talk of both council and bidders potentially stumping up would suggest) who is paying it?

If no funding is needed immediately, what the he’ll was Gilbert’s big scoop all about?

It’s not relevant really - insolvent businesses can trade until they run out of cash - shouldn’t but can so as long as the business has cash it can function.

It’s going to admin Friday unless some pre pack has been done which seems at present not done

 

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[shmmeee]

Remember the reference was to WASPs to begin with , ie WH

The line from Gilbert and Ridley was that that was wordplay and it was about ACL.

Just trying to work out if it means a bidder is already in play, but it sounds like not.

 

[wingy]

We want a buyer who wants to own the football club and stadium. Gilbert quotes today that the Mike Ashley's interest has cooled

Where is that exactly Gtt.

 

[shmmeee]

Council desperately needs the whole thing to not go tits up, but nobody will want to take on ACL with all the debt attached. Which will be why a lot of interested parties are probably holding fire until Friday

Why would they not want things to go tits up, thought they wanted rid of it, there must be something in place where the the pitch and stands have to stay and the ground cannot be converted to a warehouse or anything

If the history of this stuff has taught me anything it’s that unless when questioned a relevant party says “yes we have an enforceable legal agreement regarding that” they don’t. See also “Wasps can’t kick out CCFC” and “We have got guarantees on the pitch”.

Duggins answer last week didn’t make me think there’s anything to stop them knocking the thing down and building a warehouse if they wanted (planning aside).

 

[oldfiver]

Senior Wasps figures buy proposed housing land near training base

Wasps owner Derek Richardson and group chief executive David Armstrong are directors of a firm that has bought land next to the Alan Higgs Centre

www.coventrytelegraph.net

They are not property developers though!

 

[Gynnsthetonic]

Where is that exactly Gtt.

 

[oldfiver]

The line from Gilbert and Ridley was that that was wordplay and it was about ACL.

Just trying to work out if it means a bidder is already in play, but it sounds like not.

Reeves to Duggins - sort this out!

 

[Sky Blue Pete]

Reeves to Duggins - sort this out!

Mmmm

 

[robbiethemole]

Reeves to Duggins - sort this out!

I wouldn't trust the twat to sort letters

 

[shmmeee]

 

[TomRad85]

Weird we've heard nothing about SISU. Are they really just gonna sit on their hands when this is what they've seemingly been waiting for?

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[wingy]

Weren't Live nation linked early on?

 

[Brighton Sky Blue]

Weird we've heard nothing about SISU. Are they really just gonna sit on their hands when this is what they've seemingly been waiting for?

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Wait till Friday.

 

[Evo1883]

Who was there employer before out of interest, must of been Wasp or ACL

I'm not entirely sure sorry

 

[SkyblueDad]

Weren't Live nation linked early on?

They were and it was dismissed on here as a bit far fetched but I don’t think they have gone away.

 

[TomRad85]

Wait till Friday.

Yeh, still think they are upto something.

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[chiefdave]

Weren't Live nation linked early on?

Think that was wishful thinking and / or a false rumour leaked to drum up interest.

 

[Gynnsthetonic]

Weren't Live nation linked early on?

Forgot about them

 

[Skyblue_CP]

I’m not getting my hopes up, in any case the main noise seems to be from events companies or Wasps with something up their sleeve. Really feel like we will just end up renting again. There doesn’t seem like there is any willingness on Joys end to sell up. Although i am surprised in all this that we haven’t had the usual “Contrary to reports the Club is not for sale, SISU are committed to the long haul” statement yet.

 

[robbiekeane]

If SISU got there hands on the stadium instead of an events company, would we be any better off?

I feel like people have it in there heads that if SISU get the stadium then they will package the club and stadium off together to a happy buyer with deep pockets.

isn’t it more likely that they will just charge the club a hefty rent forever more?

 

[Samo]

I’m not getting my hopes up, in any case the main noise seems to be from events companies or Wasps with something up their sleeve. Really feel like we will just end up renting again. There doesn’t seem like there is any willingness on Joys end to sell up. Although i am surprised in all this that we haven’t had the usual “Contrary to reports the Club is not for sale, SISU are committed to the long haul” statement yet.

Yup, the silence is deafening. I think they would sell and may already be in negotiations but... will they sell at a reasonable price?

 

[long way home]

If ACL go into in admin on Friday i would assume 2 things.They will get more than a few interested parties and names not yet mentioned will come out. And a majority interested would be looking at the club as well.

I know sisu have not been ever very talkative, but this quietness with all that has gone on is deafening. And i think that is a good thing if it is deliberately being done. Lets hope we get some good news for Christmas, don't get me wrong love 3 pts most weeks but a new owners with new aspirations would be a nice present for all.

 

[SkyblueDad]

Yeh, still think they are upto something.

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Who ?

 

[Samo]

If ACL go into in admin on Friday i would assume 2 things.They will get more than a few interested parties and names not yet mentioned will come out. And a majority interested would be looking at the club as well.

I know sisu have not been ever very talkative, but this quietness with all that has gone on is deafening. And i think that is a good thing if it is deliberately being done. Lets hope we get some good news for Christmas, don't get me wrong love 3 pts most weeks but a new owners with new aspirations would be a nice present for all.

If it doesn't happen, the best we have to look forward to is knocking about in the lower divisions.

 

[shmmeee]

If SISU got there hands on the stadium instead of an events company, would we be any better off?

I feel like people have it in there heads that if SISU get the stadium then they will package the club and stadium off together to a happy buyer with deep pockets.

isn’t it more likely that they will just charge the club a hefty rent forever more?

Its hope all the way down. Guess the feeling is a sale is more likely if Sisu have the arena than say NEC.

obviously the ideal is a billionaire takes both. But it sounds like yet again for whatever reason the area has been doused in billionaire repellant spray.

 

[SkyblueDad]

Think that was wishful thinking and / or a false rumour leaked to drum up interest.

From what I’ve been told I don’t think this John Dawkins fella has gone away.

 

[oldskyblue58]

Who was there employer before out of interest, must of been Wasp or ACL

The 2021 financials show that otium employed over 200 matchday staff in 2021 and 2020.

 

[long way home]

If it doesn't happen, the best we have to look forward to is knocking about in the lower divisions.

Yep, i can see that being the case as we cant rely on bottom budgets to keep us a float in the championship. Sooner or later that model catches you out.

 

[skybluetony176]

What debt do ACL actually have? Has it just been bought down by the Wasps group of companies debt or does it have unserviceable debt of its own?

 

[zuni]

Gawd, if Ashley and the yank are less interested I hope it’s just a ploy as I don’t see a massive line of rich owners lining up to buy us ..could be another 10plus years of shit

 

[Gynnsthetonic]

The 2021 financials show that otium employed over 200 matchday staff in 2021 and 2020.

So we should have bar staff and stewards operating on Saturday, just need someone to open and lock up

 

[Skyblue_CP]

Yep, i can see that being the case as we cant rely on bottom budgets to keep us a float in the championship. Sooner or later that model catches you out.

100% there’s only so long we can get lucky on transfer dealings until eventually it catches you out and you get relegated. Then commence another 10 years trying to get out of L1.

 

[Evo1883]

let's just believe its happening .. somebody is going to come in and change our future over the next couple weeks .

Otherwise , it's sisu and no change

 

[Tommo1993]

let's just believe its happening .. somebody is going to come in and change our future over the next couple weeks .

Otherwise , it's sisu and no change

If I doesn’t happen, can I come down and poke you in they eye? In a fit of blind, disappointed rage?

 

[Evo1883]

If I doesn’t happen, come I come down and poke you in they eye? In a fit of blind, disappointed rage?

No problem mate