Wasps going into admin & the impact on CCFC (9 Viewers)

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CCFC_Irish

Well-Known Member
This might be a bit far fetched...

Hoffman somewhat enabled the sale of Newcastle to the Saudi's which cost him his job but gave Ashley millions as it was a club whose fan base hated him so he wanted away.

Hoffman has previously made attempts to take over Coventry but was never successful. Could there be a link between the two as some posts have made reference to Hoffman taking on some role at Coventry CIty (granted, probably throw away comments and reading into it too much) potentially with Hoffman's consortium (does anyone know who they were?) and Ashley backing it. Now the stadium has come into play and if SISU don't want to buy it, they should step aside.
 

Nick

Administrator
No he's been given a lot of the information on the stadium and the issue will be if he can make a pre admin offer to suit all parties.

So how does the pre admin offer work? He just buys it off Richardson without admin and puts it into admin himself?
 

Grendel

Well-Known Member
This is the bit confusing me, why are there people bidding to buy something with shit loads of debt as opposed to letting it go into admin.

You agree with secured creditors and the owner a deal thats presented as the best option.
 

Evo1883

Well-Known Member
No he's been given a lot of the information on the stadium and the issue will be if he can make a pre admin offer to suit all parties.

Why do you comfort me with shit like this
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Grendel

Well-Known Member
OK so it prevents admin completely?

So you would have thought the bondholders would have to agree to it etc etc?

The bondholders don't they have no power its the Trustee - its all about judgements isn't it? I have no idea what happened to the Co-Op bank debt in the end with us but we did not go into admin so something was agreed
 

CCFC_Irish

Well-Known Member
There is of course one scenario in which we can be fucked with Ashley aswell

The bid ISNT for the club aswell, its just the stadium

Of course then he holds the cards for getting the club which of course he would want.

But we know just how much our owners don't play ball

So i think another horrendous ending to this for us would be Ashley owning the stadium, SISU owning us.

2 people well known for distressing others and playing the long game.

We would be the in same boat as we have been for the last 15 years

The only win situation for SISU is to get the stadium. They will be crucified if they don't and the fans should make them pay.
 

steve cooper

Well-Known Member
I don’t understand how it hasn’t happened. It was due to be yesterday and still no NOI. So legally surely it has to be in admin?


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Surely the NOI is there to stop other parties pouncing for 10 days to give the company an opportunity to sort things out. This wouldn't automatically mean finding a purchaser, it could mean just finding extra income / loan etc.
I always assumed the company in trouble could cancel the NOI or just let it expire if things changed and they became solvent again.
 

Nick

Administrator
The only win situation for SISU is to get the stadium. They will be crucified if they don't and the fans should make them pay.

How? Think it was obvious they and others were waiting for admin which is now seemingly not happening.
 

Brighton Sky Blue

Well-Known Member
You would've thought we'd only do that on the basis that there's a positive outlook in the long run?

Or if the alternative was even worse, which if it meant playing games outside the city again, it would be. Though I remain pretty certain that if SISU have pulled out it's because they've come to a separate agreement with Big Mike
 

Nick

Administrator
Which doesn’t make sense.

SISU or their acquaintances are waiting for admin but are footing the bills for ACL to prevent stadium from closing.

Yeah this is what I don't get.

CCFC wouldn't be paying well over the odds to ACL get matches on when they could just play at Walsall (for example).
 
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