Wasps going into admin & the impact on CCFC (142 Viewers)

[Liquid Gold]

No other football club would have to put up with this shit, another company who's not interested in the football club bidding for a FOOTBALL stadium for fuck sake.

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It is a proper pain in the ass.

The idea of attaching all that extra stuff was to generate additional revenue for the club and we've ended up in a situation where the club is continually shafted in favour of the additions.

If we had a bowl like Leicester, Saints etc. we wouldn't have had half of this shite.

 

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[Evo1883]

You would also have to worry about our financial future if NEC got it ?

We're knackered now without investment as it is

 

[SHUNT31]

It is a proper pain in the as.

The idea of attaching all that extra stuff was to generate additional revenue for the club and we've ended up in a situation where the club is continually shafted in favour of the additions.

If we had a bowl like Leicester, Saints etc. we wouldn't have had half of this shite.

Was literally just thinking the same

 

[Liquid Gold]

Surely he can't take any money and run while there is so much debt in there?

He can, ACL isn't in admin, whoever buys it will be responsible for dealing with debt.

 

[Nick]

Why wouldn’t Ashley do a deal with them? Especially considering that it was reported he had held talks about a takeover of them?

Exactly.

 

[Evo1883]

Ashley is worth about 2 billion

 

[Nick]

He can, ACL isn't in admin, whoever buys it will be responsible for dealing with debt.

Oh you mean they pay him direct and he hands the company over and then the new owners put it into admin?

Why wouldn't people just let it go into admin and then buy it?

So in theory whoever is buying pre admin it is also taking on ALL the debt? That seems a bit mental.

 

[Evo1883]

Oh you mean they pay him direct and he hands the company over and then the new owners put it into admin?

Why wouldn't people just let it go into admin and then buy it?

Because another buyer is willing to pay the debt and not risk being outbid in admin?

 

[aviles]

Why wouldn’t Ashley do a deal with them? Especially considering that it was reported he had held talks about a takeover of them?

There is no money in Rugby, was Ashley ever interested in the wasps or was it a rumour. I lean towards the latter. Someone of Ashleys experience knows the money is in the prem.

 

[HuckerbyDublinWhelan]

Wasn’t Ashley originally going to refinance the bond? Maybe he’s pushing that deal forward

 

[Evo1883]

There is no money in Rugby, was Ashley every interested in the wasps or was it a rumour. I lean towards the latter. Someone of Ashleys experience knows the money is in the prem.

Premier league revenue , alongside a hotel , indoor event location , stadium , casino etc .. huge potential ..

You have to hope he really wants the stadium .. like REALLY wants it

 

[MAFF]

I can still see ACL going into admin.

 

[Liquid Gold]

Oh you mean they pay him direct and he hands the company over and then the new owners put it into admin?

Why wouldn't people just let it go into admin and then buy it?

So in theory whoever is buying pre admin it is also taking on ALL the debt?

Maybe control of administrator or something, that's a question for someone else but it's the way I'm reading it.

Someone with the money of Ashley or the people that run the NEC aren't stupid with their £s so will be looking at how to make it work best for them.

 

[Nick]

Because another buyer is willing to pay the debt and not risk being outbid in admin?

Which begs the question, who is going to want to give Richardson money for it and then take on all of the debt and why?

 

[Evo1883]

Wasn’t Ashley originally going to refinance the bond? Maybe he’s pushing that deal forward

Wasps won't be here

 

[Otis]

There waiting till tonigt will probably be announced on the pitch ,podium ,fanfare and firworks out will come Mick Ashley waving to all 4 sides allongside Joy with her Handbag stuffed with notes

I think you will find Ashley is playing tonight. Lone striker role.

 

[Grendel]

Oh you mean they pay him direct and he hands the company over and then the new owners put it into admin?

Why wouldn't people just let it go into admin and then buy it?

So in theory whoever is buying pre admin it is also taking on ALL the debt?

Going into administration is then effectively a sealed bid process and the administrator determines the best bid

 

[Brighton Sky Blue]

There is no money in Rugby, was Ashley every interested in the wasps or was it a rumour. I lean towards the latter. Someone of Ashleys experience knows the money is in the prem.

To be honest if Richardson still has an input into who takes over, I'd say that swings it towards Ashley.

 

[Nick]

Wasps won't be here

Hmmm what's that based on though?

 

[alexccfc99]

NEC we’d be in the same boat, I can’t see them kicking us out because why would they? They aren’t going to use a stadium bowl for concerts other than for 3 months a year really - But they may be happy to have wasps in their new form back

Why would Ashley bid for a stadium with no intention of taking the club on unless he wants to just turn the place into one of his massive Sports Direct sweatshops

It would appear SISU have again gambled on taking ACL out of admin and their strategy has backfired again

what a clusterfuck of a situation

 

[Nick]

Going into administration is then effectively a sealed bid process and the administrator determines the best bid

Yeah I get that but why would somebody want to take all of the debt on and potentially pay tens of millions more?

 

[Evo1883]

Hmmm what's that based on though?

There's no money in it ? 4k fans a match will it barely cover the stadium running costs

 

[Liquid Gold]

Wasps won't be here

The bond is on the stadium though, anybody could buy ACL for a price Richardson deems acceptable, refinance the bond and take ownership without Wasps having the slightest to do with it.

The question that arises with me is not just the bond but the other £40m or whatever it is attached to it. What are you planning with that?

That's why I don't see a refinance but a pre-pack.

 

[Saddlebrains]

SISU were expecting admin.

However, it was never them preparing a bid remember.

Its whoever they've pallied up with

 

[Liquid Gold]

Going into administration is then effectively a sealed bid process and the administrator determines the best bid

Always wondered why it's sealed bids and not playing them against one another to get the best price.

 

[Evo1883]

The bond is on the stadium though, anybody could buy ACL for a price Richardson deems acceptable, refinance the bond and take ownership without Wasps having the slightest to do with it.

The question that arises with me is not just the bond but the other £40m or whatever it is attached to it. What are you planning with that?

That's why I don't see a refinance but a pre-pack.

So people now think Wasps will stay here ?

 

[Nick]

The bond is on the stadium though, anybody could buy ACL for a price Richardson deems acceptable, refinance the bond and take ownership without Wasps having the slightest to do with it.

The question that arises with me is not just the bond but the other £40m or whatever it is attached to it. What are you planning with that?

That's why I don't see a refinance but a pre-pack.

Probably one for the experts but isn't it still a gamble for somebody to buy off Richardson and then put it into admin themselves?

 

[Grendel]

Yeah I get that but why would somebody want to take all of the debt on and potentially pay tens of millions more?

When CCFC were sold to Sisu the debt taken on has hardly had an impact has it?

 

[olderskyblue]

I think you will find Ashley is playing tonight. Lone striker role.

In goal might be better….

 

[Liquid Gold]

So people now think Wasps will stay here ?

No you're misreading what I'm trying to get across.

Wasps have nothing to do with this. If they wanted to play at the arena they'd have to offer a rental deal to the new owner and they'd be mad to given that nobody gives a shit about them here.

 

[oldfiver]

Going into administration is then effectively a sealed bid process and the administrator determines the best bid

Nope!

It's a question of solvency

He can receive offers and one suits his purse he can set up a pre pack. However pre packs can be broken

 

[Nick]

When CCFC were sold to Sisu the debt taken on has hardly had an impact has it?

So you are saying somebody can buy ACL and then just not worry about the bondholders / HMRC and everybody else owed money?

What benefit does that have over letting it go into admin and making a bid?

 

[Brighton Sky Blue]

No you're misreading what I'm trying to get across.

Wasps have nothing to do with this. If they wanted to play at the arena they'd have to offer a rental deal to the new owner and they'd be mad to given that nobody gives a shit about them here.

More feasible for them to ask Cov Rugby to rent there instead

 

[Evo1883]

Oh well boys , say your prayers because for me NEC owning this stadium is not any good for ccfc and its future

 

[Liquid Gold]

Probably one for the experts but isn't it still a gamble for somebody to buy off Richardson and then put it into admin themselves?

Maybe they leverage the buyout on ACL and then become a creditor with more ability to control the bidding.

I don't know I'm just trying to work it out.