Wasps going into admin & the impact on CCFC (114 Viewers)

[saveitforthewombles]

I believe there are interested parties - likely now a game of brinkmanship to see who moves first. Only three home games to host before the World Cup which I'm pretty sure they can organise....I think if a buyer isn't found by Monday the Council steps in to manage (as freeholder) until a deal is done.

 

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[Brighton Sky Blue]

As I’ve just replied to Calista, I posted that before catching up on the thread and reading Gilber’s update.
Tho I still think our overall prospects are better now Wasps are gone than at any point when they were here..

Before Christmas, hopefully long before, we’ll know if that turns out to be right. If someone else remains in charge of the ground and SISU remain in charge of us, it’s not getting better.

 

[Sky Blue Pete]

Hold on. Who's demanding these sums?

Acl through council

 

[skybluetony176]

The way I see it is CCC owe us and the CBSA owes them fuck all now. I would think that as the freeholders they have some control over who takes over the arena. IIRC in the event of Wasps going tits up the lease returns to CCC and on the original terms not the extended terms which wasp’s paid for once they acquired both the Higgs and CCC shares in ACL. This puts CCC in a unique position to influence who ACL is sold too. If the club/SISU are the only interested party that the council are willing to offer an extended lease too who else would be interested and why? They owe us. Regardless of who you think is to blame for us going to Northampton, putting us in administration etc. is irrelevant. It’s CCC who facilitated Wasps coming to Coventry, it’s wasps that put us through the turmoil of playing in Birmingham, it’s wasp who have put us through the turmoil of this season. That’s on CCC, they owe us. Time for them to put the petty politics to one side and do everything within their power and considerable influence on ACL’s administration to make sure CCFC benefits through ownership of the complex.

 

[Calista]

TBF mate, I posted that before catching up on the thread and reading Gilbert’s update
having said that, something had to give at some point.

Sorry it was only your typo I picked out!

 

[Philosoraptor]

Can ACL be moved like that?

There is stuff ACL can and can't do.

 

[Cityandproud87]

Tranmere were deducted 2 points for failing to fulfil a fixture. I think we’ll lose 3 points potentially 6. Will be an incredible achievement to stay up really

 

[oldfiver]

Hold on. Who's demanding these sums?

ACL ( aka Martin )

 

[Alkhen]

It is absolutely the clubs fault. You can’t bang on for years about a new stadium and not expect to be punished when you can no longer fulfil fixtures and there isn’t even one brick of a new stadium in the ground.

Own up.. whos shite troll account is this? weak ass effort

 

[Nick]

CCFC we demanded to pay £50k by mid afternoon on Tuesday or gates would be closed

Yesterday ACL demanded £150k for tomorrow's game. Then told they could not play the Tuesday game

It looks like CCFC paid the ACL payroll and thus kept it going

The worrying thing is, some of our fans think ccfc should do it every game.

 

[Cityandproud87]

Own up.. whos shite troll account is this? weak ass effort

How is it trolling? They’ve gone on about a new stadium for over half a decade. Where is it?

 

[Seaside-Skyblue]

Maybe I’m being emotional because I’ve just come off nights, but I’m so close to being done with all this bollocks.

Had enough of it. Need a degree in business studies and contract law. I just want a bit of football and a few jars

Weve probably learned half the modules of those degrees just supporting Cov and being on this forum!

Sent from my SM-A908B using Tapatalk

 

[Cityandproud87]

The worrying thing is, some of our fans think ccfc should do it every game.

We absolutely shouldn’t but unfortunately we have to. Surely the alternative is worse

 

[Sky Blue Pete]

I'm getting confused, who is actually in charge of ACL at the moment?

Great question one to ask George and Martin

 

[Nick]

We absolutely shouldn’t but unfortunately we have to. Surely the alternative is worse

No we don't.

 

[saveitforthewombles]

Great question one to ask George and Martin

The administrator

 

[wingy]

Time to hit your councillor's chaps.

 

[oldfiver]

I believe there are interested parties - likely now a game of brinkmanship to see who moves first. Only three home games to host before the World Cup which I'm pretty sure they can organise....I think if a buyer isn't found by Monday the Council steps in to manage (as freeholder) until a deal is done.

There were no interested parties as of Tuesday

 

[saveitforthewombles]

There were no interested parties as of Tuesday

not true

 

[jordan210]

The administrator

They havent appointed one. So I would guess it wold still be Richardson and so on.

 

[Cityandproud87]

No we don't.

Then why are we? Why did we pay to fix the pitch?

Because it’s better than the alternative

 

[oldfiver]

How is it trolling? They’ve gone on about a new stadium for over half a decade. Where is it?

It doesn't matter for now - an agreed interim lease was put in place.

If ACL is a going concern there is no reason why that cannot be honoured

If they cannot put the game on then it is hardly a going concern

 

[oldfiver]

not true

So who lied?

 

[Colin Steins Smile]

From my understanding of the current scenario, we have a situation whereby the stadium could be shut down whilst a new buyer is sought and matches, exhibitions and other events are stopped. The problems are related to the processes involved with liquidation, in that the governance structures connected to ACL become void. This includes operating licences, etc.
The value of football, events, etc to the economy of the City of Coventry [in it's widest sense] is significant. Each hotel room booked at the CBS and other hotels in the city, plus the secondary spend in restaurants, shops, pubs, etc is of value to our businesses.
We need some pragmatism to break out within this process and surely CCC even in their most vindictive mode can see there is value in providing a month worth of funding to keep the CBS operating whilst a new buyer is sought.

 

[oldfiver]

They havent appointed one. So I would guess it wold still be Richardson and so on.

They do not want any administrator until totally necessary - they still saying "going concern"

 

[saveitforthewombles]

From my understanding of the current scenario, we have a situation whereby the stadium could be shut down whilst a new buyer is sought and matches, exhibitions and other events are stopped. The problems are related to the processes involved with liquidation, in that the governance structures connected to ACL become void. This includes operating licences, etc.
The value of football, events, etc to the economy of the City of Coventry [in it's widest sense] is significant. Each hotel room booked at the CBS and other hotels in the city, plus the secondary spend in restaurants, shops, pubs, etc is of value to our businesses.
We need some pragmatism to break out within this process and surely CCC even in their most vindictive mode can see there is value in providing a month worth of funding to keep the CBS operating whilst a new buyer is sought.

That is a viable option short-term for sure

 

[jordan210]

On wasps holdings Companies house it shows

Second filing for the termination of Nicholas John Eastwood as a director

Second filing for the termination of Robert William Gray as a director

Both also show

Termination of appointment of Nicholas John Eastwood as a director on 12 October 2022
Termination of appointment of Robert William Gray as a director on 12 October 2022

But oddly on main pages shows both resigned in August. But no filing history for that

 

[Sky Blue Pete]

The administrator

Not in admin

 

[Sky Blue Pete]

Then why are we? Why did we pay to fix the pitch?

Because it’s better than the alternative

Put your council coat back on

 

[oldfiver]

On wasps holdings Companies house it shows

Second filing for the termination of Nicholas John Eastwood as a director

Second filing for the termination of Robert William Gray as a director

Both also show

Termination of appointment of Nicholas John Eastwood as a director on 12 October 2022
Termination of appointment of Robert William Gray as a director on 12 October 2022

But oddly on main pages shows both resigned in August. But no filing history for that

It's the Arena companies and IEC they are punting

 

[Cityandproud87]

Put your council coat back on

How in any way is that supporting the council?
Whats the better option?

 

[hill83]

Time to hit your councillor's chaps.

 

[jordan210]

It's the Arena companies and IEC they are punting

Yeah but confused why it says they resigned but there is no filing history for that. But also shows they have been terminated

 

[Colin Steins Smile]

It's definitely time to fill our councillors inbox with emails stating the CCC should step in with one months funding to allow the CBS arena to continue trading whilst a buyer is sought.

 

[Sky Blue Pete]

How in any way is that supporting the council?
Whats the better option?

You are putting the blame on the club for not having a new stadium!!! Red herring and distraction. Stop it