Wasps going into admin & the impact on CCFC (134 Viewers)

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Philosoraptor

Philosoraptor

Well-Known Member
Nick said:
Erm, surely they would do their checks? Unless they got an amazing deal because of the situation.

Madness.

However if ACL go into admin then in theory they should also be locked out if we are?
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I would imagine anyone who has offices up there.
 
shepardo01

shepardo01

Well-Known Member
SHUNT31 said:
If what Duggins was saying in the meeting last week is correct, the council could be open to doing a dealing with Seppala.

They cannot afford to screw over the football team again.
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That is not how I read what he said in the meeting.

"It's hard to forget the last ten years"
"If anybody wants to discuss CCFC arrange a private meeting with the chief exec"

More leaning towards still being bitter to the point of not dealing with SISU...
 
Esoterica

Esoterica

Well-Known Member
shepardo01 said:
That is not how I read what he said in the meeting.

"It's hard to forget the last ten years"
"If anybody wants to discuss CCFC arrange a private meeting with the chief exec"

More leaning towards still being bitter to the point of not dealing with SISU...
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Sadly that’s how I saw it too, a more diplomatic version of Ann’s ‘Over my dead body’ or whatever the alleged quote was.
 
Nick

Nick

Administrator
shepardo01 said:
That is not how I read what he said in the meeting.

"It's hard to forget the last ten years"
"If anybody wants to discuss CCFC arrange a private meeting with the chief exec"

More leaning towards still being bitter to the point of not dealing with SISU...
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Yeah, he was still very bitter.

Chief Exec who happens to have been involved from the start and was a director of ACL.
 
shepardo01

shepardo01

Well-Known Member
Nick said:
Erm, surely they would do their checks? Unless they got an amazing deal because of the situation.

Madness.

However if ACL go into admin then in theory they should also be locked out if we are?
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Is that not the company we had sponsor our shorts in the Blues seasons .. ...
A company "Juggy" Chima owns/is heavily involved with??
 
SHUNT31

SHUNT31

Well-Known Member
Brighton Sky Blue said:
I think if there’s an option to get it with the debt wiped SISU absolutely will make a play for it. But I get the feeling it wouldn’t be hard to outbid them unless they can convince investors that there is a clear path to a huge return.
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I agree. Can’t see them not being in play. It’s worth more to SISU as owners of the club than a 3rd party. For all their wrongdoings, they’re not stupid. They know how important this is for any future sale or return on investment.
 
B

Brighton Sky Blue

Well-Known Member
oldskyblue58

oldskyblue58

CCFC Finance Director
Senior Vick from Alicante said:
Then SISU are in the game it would seem. Perhaps playing the long game has worked and they then package it all together and sell it on?
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Not sure they are. I would think the stadium will end up with someone like NEC Group. But I have nothing saying they are or not

A rational decision would say that the involvement of sports teams in events and stadium management is about as good as the involvement of a council - very poor. The council decision is not just about ccfc it is also about all the other stuff going on at the stadium.

I don't think, for the stadium finance point of view only that having sisu in as owners to employ event specialists and therfore dilute profits of the stadium is the best option. Offering the football club a long lease on favourable terms is from the stadium point of view.

Look at the football club financials, no profit, large debt, large interest costs, then compare to a stadium or event operator like nec which would you choose for a quiet life ? Not saying it is NEC btw

Of course that implies rational thinking on the councils part so who knows.

First objective is that ccfc fixtures are secure
 
B

Brighton Sky Blue

Well-Known Member
oldskyblue58 said:
Not sure they are. I would think the stadium will end up with someone like NEC Group.

A rational decision would say that the involvement of sports teams in events and stadium management is about as good as the involvement of a council - very poor. The council decision is not just about ccfc it is also about all the other stuff going on at the stadium.

I don't think, for the stadium finance point of view only that having sisu in as owners to employ event specialists and therfore dilute profits of the stadium is the best option. Offering the football club a long lease on favourable terms is from the stadium point of view.

Look at the football club financials, no profit, large debt, large interest costs, then compare to a stadium or event operator like nec which would you choose for a quiet life ? Not saying it is NEC btw

Of course that implies rational thinking on the councils part so who knows.

First objective is that ccfc fixtures are secure
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Or alternatively to see it as a chance for SISU to at last end their involvement with the city and end any destabilising influence.
 
jordan210

jordan210

Well-Known Member
oldskyblue58 said:
Not sure they are. I would think the stadium will end up with someone like NEC Group. But I have nothing saying they are or not

A rational decision would say that the involvement of sports teams in events and stadium management is about as good as the involvement of a council - very poor. The council decision is not just about ccfc it is also about all the other stuff going on at the stadium.

I don't think, for the stadium finance point of view only that having sisu in as owners to employ event specialists and therfore dilute profits of the stadium is the best option. Offering the football club a long lease on favourable terms is from the stadium point of view.

Look at the football club financials, no profit, large debt, large interest costs, then compare to a stadium or event operator like nec which would you choose for a quiet life ? Not saying it is NEC btw

Of course that implies rational thinking on the councils part so who knows.

First objective is that ccfc fixtures are secure
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It feels like the NEC stuff was being pushed by CCC and wasps. trying to use it as leverage to get the bids going.

NEC group dont current own any sports stadia. So might be a big risk for them.
 
oldskyblue58

oldskyblue58

CCFC Finance Director
Brighton Sky Blue said:
Or alternatively to see it as a chance for SISU to at last end their involvement with the city and end any destabilising influence.
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If council don't have to run stadium and its owned by a large events group how exactly is that a problem to CCC. The decision isn't about what's best for ccfc and its supporters, the only decision for the council is what is best for the stadium. Sisu have maintained they won't be there in 8 years, and clearly what went on still rankles.

The stadium needs a reputation rebuild let alone dilapidation rebuild, does selling to sisu in hope they might move on do that ? What if they don't?
 
Nick

Nick

Administrator
jordan210 said:
It feels like the NEC stuff was being pushed by CCC and wasps. trying to use it as leverage to get the bids going.

NEC group dont current own any sports stadia. So might be a big risk for them.
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Also, if the NEC stuff was a done deal or that advanced then why would they be begging the bondholders?
 
Nick

Nick

Administrator
oldskyblue58 said:
If council don't have to run stadium and its owned by a large events group how exactly is that a problem to CCC. The decision isn't about what's best for ccfc and its supporters, the only decision for the council is what is best for the stadium. Sisu have maintained they won't be there in 8 years, and clearly what went on still rankles.

The stadium needs a reputation rebuild let alone dilapidation rebuild, does selling to sisu in hope they might move on do that ? What if they don't?
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They won't sell to SISU in case they mortgage it up...Oh wait.
 
shmmeee

shmmeee

Well-Known Member
Nick said:
Jon Fair today and National Rubix Cube Championships on Friday.

I shit you not.

BSvA1RZ.png
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Make the winner solve the arena ownership puzzle. Sorted.
 
shmmeee

shmmeee

Well-Known Member
Worst case is it goes back to the council and Sisu are one of the only bidders. Then we go back to square one with all the hé said she said bollocks.
 
Samo

Samo

Well-Known Member
jordan210 said:
It feels like the NEC stuff was being pushed by CCC and wasps. trying to use it as leverage to get the bids going.

NEC group dont current own any sports stadia. So might be a big risk for them.
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I don't really get why the NEC would want another gaff a stone's throw from their own. If it were in a different part of the country, I could understand the interest.
 
jordan210

jordan210

Well-Known Member
Samo said:
I don't really get why the NEC would want another gaff a stone's throw from their own. If it were in a different part of the country, I could understand the interest.
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Looking on their website. they have some crazy masterplan for the NEC. So would be an odd choice.

Only thing that might change that is Blackrock being the finance and tying to buy as much as possible
 
oldskyblue58

oldskyblue58

CCFC Finance Director
jordan210 said:
It feels like the NEC stuff was being pushed by CCC and wasps. trying to use it as leverage to get the bids going.

NEC group dont current own any sports stadia. So might be a big risk for them.
Click to expand...

The NEC hospitality & events is called Amadeus. The CBSA is not just about sports most of acl income nothing to do with sport.

Amadeus has per its website involvement in sport. Let's be honest, match days are a chance for acl to sell food or hospitality it doesn't matter that it is sport. Should imagine they have links with CCC already.

Not saying that it will be NEC. It was just an example of the type of owner the stadium needs. The decision for CCC has to be about what's best for stadium first, then ccfc
 
W

wingy

Well-Known Member
SHUNT31 said:
Council HAVE to sell the lease to the football club if they are interested.

They’ve already had the money for the lease so that is not an issue.

In theory, could sell for £1.

I would imagine bondholders security is gone if liquidation is confirmed too? If so, would that open the door for Richardson to obtain a new lease from the council? Surely they wouldn’t make that mistake again.
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Would him being a director be problematic after a liquidation?
 
O

oldfiver

Well-Known Member
jordan210 said:
Looking on their website. they have some crazy masterplan for the NEC. So would be an odd choice.

Only thing that might change that is Blackrock being the finance and tying to buy as much as possible
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Blackrock also hold a big chunk of Hilton so already have an interest at CBS
 
chiefdave

chiefdave

Well-Known Member
Samo said:
I don't really get why the NEC would want another gaff a stone's throw from their own. If it were in a different part of the country, I could understand the interest.
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The NEC Group have been taking on other venues recently and I'm sure there are some that are relatively local. Maybe the CBS is suitable for different sized events to the ones the NEC takes and instead of turning business away they could push it to an alternate venue they operate.

It might also be an advantage to them on the music side to be able to put on stadium sized shows as well as arena sized shows.
 
Nick

Nick

Administrator
Where does this all leave Higgs?

Yeah they got paid but what about all the promises and the ongoing stuff?

Good job they have a family of lawyers.
 
O

oldfiver

Well-Known Member
oldskyblue58 said:
The NEC hospitality & events is called Amadeus. The CBSA is not just about sports most of acl income nothing to do with sport.

Amadeus has per its website involvement in sport. Let's be honest, match days are a chance for acl to sell food or hospitality it doesn't matter that it is sport. Should imagine they have links with CCC already.

Not saying that it will be NEC. It was just an example of the type of owner the stadium needs. The decision for CCC has to be about what's best for stadium first, then ccfc
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Delaware North are not doing very well out of the Arena - and they are major operators
Compass are also still owed x£millions
 
Terry Gibson's perm

Terry Gibson's perm

Well-Known Member
oldfiver said:
Delaware North are not doing very well out of the Arena - and they are major operators
Compass are also still owed x£millions
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I imagine that compass are going to be members of a large group that are going to be pretty disappointed
 
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