Wasps going into admin & the impact on CCFC (279 Viewers)

[Nick]

Not sure if this has already been posted, but according to a 2 week old report attributed to Sky, NEC has already made a bid. Clearly not enough.

NEC lodges bid to buy CBS Arena | TheBusinessDesk.com

Reports suggest that the exhibition venue giant wants to take over the stadium

www.thebusinessdesk.com

Exhibition venue giant could be about to launch a bid for the home of stricken Premiership rugby side Wasps and Championshire football club Coventry City.

The NEC Group has lodged a bid for the Coventry Building Society (CBS) Arena last week, according to reports from Sky News.

Erm?

 

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[Skyblueweeman]

Blackrock also hold a big chunk of Hilton so already have an interest at CBS

Almost. Blackrock only take a % of profit from the hotel at the stadium. It's run as a franchised property.

 

[Skyblue_CP]

If he was spouting off to fans at a train station I’d only see any expectation of privacy. Just saying.

Yeh, I’d imagine he wouldn’t be divulging SISUs game plan in all this with some fans at a train station.

 

[steve cooper]

Erm?

That's what I thought, contradictory, but from what I can see, they seem like a fairly serious outfit.

 

[oldfiver]

Erm?

"could be "
"reports ..." etc

Nothing from the Company itself

I suggest several people have looked ... and gone away

Nothing you would consider concrete is there?

 

[TomRad85]

PM'd

Wheres my PM at?

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[MusicDating]

Wheres my PM at?

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PMs don't last v long these days I'm afraid...

 

[wingy]

Where's Moonstone in all of this?

 

[oldfiver]

Where's Moonstone in all of this?

Malta

 

[Saddlebrains]

Update from my Gilbert leak mate:

Rumour abound at the council that when admin happens SISU are in pole position

Americans have been in and around the council house having meetings,nothing to do with Dawkins made up yank, American SISU investors. Were also at the game last night

Someone could of course usurp, but turns out no one is interested at the mo



Maybe those on here who said SISU have been quiet for a reason were right.

Imagine......

 

[TomRad85]

Update from my Gilbert leak mate:

Rumour abound at the council that when admin happens SISU are in pole position

Americans have been in and around the council house having meetings,nothing to do with Dawkins made up yank, American SISU investors. Were also at the game last night

Someone could of course usurp, but turns out no one is interested at the mo



Maybe those on here who said SISU have been quiet for a reason were right.

Imagine......

Not my first choice, or even my fifth or sixth, but I'll still take this over being owned by SISU while renting the ground from the bugs.

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[Gynnsthetonic]

Update from my Gilbert leak mate:

Rumour abound at the council that when admin happens SISU are in pole position

Americans have been in and around the council house having meetings,nothing to do with Dawkins made up yank, American SISU investors. Were also at the game last night

Someone could of course usurp, but turns out no one is interested at the mo



Maybe those on here who said SISU have been quiet for a reason were right.

Imagine......

 

[skybluetony176]

If SISU take over ACL the only thing you can see it as is a positive, fingers crossed caveat. Surely it will be the first step of them selling up.

 

[chiefdave]

Not my first choice, or even my fifth or sixth, but I'll still take this over being owned by SISU while renting the ground from the bugs.

there's def concerns around SISU ending up owning the ground but on the positive side this could be the beginning of the end for them.

get the council to stump up for any repairs needed, get the lease on the cheap, then sell the club and stadium off. that's probably the best return they'll ever get and a lot less hassle than hanging around for the next 20 years taking small chunks of money out every year.

 

[Nick]

If SISU taking over ACL the only thing you can see it as is a positive, fingers crossed caveat. Surely it will be the first step of them selling up.

Many different outcomes to be fair. Some good, some bad.

 

[chiefdave]

Think there's a bar but not sure about food.

Just mean if it's an issue of having it, pretty sure the administrator could sell a few pitches to local businesses who would jump at the chance.

I know a few music venues that have had issues like this and they just get down the cash and carry and stock up on cans. Can't be that difficult to just get Dhillons in if needed.

 

[Brighton Sky Blue]

there's def concerns around SISU ending up owning the ground but on the positive side this could be the beginning of the end for them.

get the council to stump up for any repairs needed, get the lease on the cheap, then sell the club and stadium off. that's probably the best return they'll ever get and a lot less hassle than hanging around for the next 20 years taking small chunks of money out every year.

Exactly, a golden chance to get back most of their money while uniting club with ground.

 

[jordan210]

When do we expect them to be officially relegated. Some time next week after the weekend fixture is not played

 

[Danceswithhorses]

If it's true that SISU have miraculously found the funds to buy the stadium, and they're in pole position (per saddlebrain's post), Is it possible that everyone's favourite vomiter, Mike Ashley, has stumped up the funds...hence why he's disappeared as a bidder ?
It would be smarter for an interested buyer to have less competition, and maybe keep the price on the lower side ?
If he's the source of funds, maybe he does want the club+stadium combo ?
Oh, and 2+2= 11ty billion

 

[junglej13]

Update from my Gilbert leak mate:

Rumour abound at the council that when admin happens SISU are in pole position

Americans have been in and around the council house having meetings,nothing to do with Dawkins made up yank, American SISU investors. Were also at the game last night

Someone could of course usurp, but turns out no one is interested at the mo



Maybe those on here who said SISU have been quiet for a reason were right.

Imagine......

To state the obvious the Council would just have to ensure there was tightly worded restrictions/covenants on the land that the ownership had to stay with the football club. If I was a senior officer/politician at the Council this is the obvious huge risk given Sisu's track record. Personally I think the Council could progress with a sale, come out of the whole shitstorm positively and protect the asset foe the City moving forward.

 

[Skyblueweeman]

Update from my Gilbert leak mate:

Rumour abound at the council that when admin happens SISU are in pole position

Americans have been in and around the council house having meetings,nothing to do with Dawkins made up yank, American SISU investors. Were also at the game last night

Someone could of course usurp, but turns out no one is interested at the mo



Maybe those on here who said SISU have been quiet for a reason were right.

Imagine......

Has he been right on things before? Genuine question as I cannot remember every post

 

[Deleted member 5849]

Wheres my PM at?

Sent from my SM-G973F using Tapatalk

It's alright, it's a secret between Fisher and umpteen people at a train station, and Fisher would of course expect them all to keep quiet, and that's why he'd talk to them in a public setting...

 

[shmmeee]

Not gonna lie I’d prefer Mike Ashley, but if there’s involvement of money with Sisu and it finds it way to the squad and not just the arena I’ll take it. We desperately need cash before Jan.

 

[Deleted member 5849]

Not gonna lie I’d prefer Mike Ashley

Words rarely used

 

[1966_and_all-that]

Blackpool fan in peace.please excuse the possible naivety here (you know your situation). However, if Wasps go into administration and the administrator needs to pay bills, might you have a chance of buying the ground at a knockdown price?

I do support you in this btw.

 

[Samo]

Blackpool fan in peace.please excuse the possible naivety here (you know your situation). However, if Wasps go into administration and the administrator needs to pay bills, might you have a chance of buying the ground at a knockdown price?

I do support you in this btw.

Do you have a few months to talk this over?

 

[duffer]

I think our fans need to prepare themselves that if something happens and we can continue to play at the arena. There wont be any food and drink and limited staff for parking and so on.

Packed lunch! (School rules apply though, obviously, no sweets or fizzy drinks allowed).

 

[shmmeee]

Packed lunch! (School rules apply though, obviously, no sweets or fizzy drinks allowed).

Still annoyed I wasn’t allowed a flask of tea in the ground last night. they’d probably confiscate your babybel for being a potential missile.

Blackpool fan in peace.please excuse the possible naivety here (you know your situation). However, if Wasps go into administration and the administrator needs to pay bills, might you have a chance of buying the ground at a knockdown price?

I do support you in this btw.

That’s what we all assume our owners plan is (and has been since this all kicked off). Wrinkle is there’s apparently a clause that means if an “insolvency event” (I.e. admin or liquidation) happens the lease reverts back to the council. The council who do not get on with Sisu at all (hence the last decade).

There’s every chance the council could take the view that they want to market the arena to get best value, and every chance our owners say if they don’t get it they’ll move the club, which seriously hampers the attractiveness of the arena.

So we go back to the Mexican standoff we’ve had the last decade.

 

[Senior Vick from Alicante]

Not gonna lie I’d prefer Mike Ashley, but if there’s involvement of money with Sisu and it finds it way to the squad and not just the arena I’ll take it. We desperately need cash before Jan.

Sisu would not reinvest profits in the team just because they own the stadium thats not their model. They would look to make it like us cost neutral and then take the profits, wouldnt surprise me if they still charged the club rent for the ground. It would mean however its a better proposition for a sale by them, thats all.

 

[Brighton Sky Blue]

It's alright, it's a secret between Fisher and umpteen people at a train station, and Fisher would of course expect them all to keep quiet, and that's why he'd talk to them in a public setting...

Likewise someone at the council deciding to leak details of who’s in the running

 

[joemercersaces]

there's def concerns around SISU ending up owning the ground but on the positive side this could be the beginning of the end for them.

get the council to stump up for any repairs needed, get the lease on the cheap, then sell the club and stadium off. that's probably the best return they'll ever get and a lot less hassle than hanging around for the next 20 years taking small chunks of money out every year.

So there could be new words…Fuck the Wasps, Love SISU, Love the Council, and the Villa…Oh, hang on

 

[duffer]

Incidentally, I know it's never going to happen, but I emailed the administrator yesterday to see how a supporter funded bid might work. No response as yet, maybe he's playing hardball.

I'm going to back to them tonight and offer a tenner out of my own pocket (I'll enclose a photo as proof of funds). If nothing else they can't claim to have had no bids then!

If I win it, we're all having a kick about on the pitch before I go bust.

 

[jordan210]

Packed lunch! (School rules apply though, obviously, no sweets or fizzy drinks allowed).

We should have what they did outside athletico Madrid, have random people selling alcohol and sweats out of back packs

 

[Moff]

Still annoyed I wasn’t allowed a flask of tea in the ground last night. they’d probably confiscate your babybel for being a potential missile.

Would be ok if was at Fulham, as long as you brought a Victoria Sponge, some paper plates and napkins like some of their fans do

 

[jordan210]

What I don’t get is why people talk about Joy/Sisu like she is stupid, she’s worth more than all of us combined.

She is going to do what’s maximises her assets.

With high net worth individuals What they say publicly and privately are completely different.