Wasps going into admin & the impact on CCFC (146 Viewers)

[wingy]

This is the other thing, CCFC are ploughing extra money in for matchdays which is presumably keeping it out of admin while they do a deal with others?

That doesn't make much sense.

It wouldn't now if Sisu were out the game, but never did really .

EFL being an issue and distressing ourselves.

 

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[Brighton Sky Blue]

All calm down then. No way has NEC or Mike Ashley bid a minimum £35m for the arena

Won't need to be if it's Richardson having a say

 

[Nick]

It does because we're desperate.

Not being funny, if they have been trying for 10 years or so to get ACL distressed and into admin. I am pretty sure we would have been in Walsall tonight rather than giving them shit loads of money to play there now admin is pretty much there for the taking.

 

[HuckerbyDublinWhelan]

Won't need to be if it's Richardson having a say

According to Gilbert that debt needs to be clear, no sane person is clearing that debt

 

[Brighton Sky Blue]

Not being funny, if they have been trying for 10 years or so to get ACL distressed and into admin. I am pretty sure we would have been in Walsall tonight rather than giving them shit loads of money to play there now admin is pretty much there for the taking.

Not if it helped secure preferred bidder status

 

[Brighton Sky Blue]

According to Gilbert that debt needs to be clear, no sane person is clearing that debt

Then that in itself is a reason why bond holders will have to accept a lower offer so they get something rather than nothing.

 

[wingy]

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).

Club!!
Owner .
EFL?
Others.

 

[CCFC_Irish]

According to Gilbert that debt needs to be clear, no sane person is clearing that debt

Is that Wasps debt? This page has gone insane in the last 10 minutes

 

[Nick]

Not if it helped secure preferred bidder status

Which doesn't make sense if they only want to bid when in admin but keep ACL out of admin by paying silly money for games to be on?

 

[HuckerbyDublinWhelan]

It was reported - Ex-Newcastle owner Mike Ashley held talks with Wasps about takeover - which is more than has been mentioned about us….which is actually just a rumour from here and social media.

“The attraction of Wasps for Ashley lies chiefly in the stadium, which runs a profitable hospitality business including a Hilton hotel and Grovesnor Casino, as well as the potential for returning to football by buying Coventry City, who are tenants of the rugby club. “

paragraph In the article

 

[Brighton Sky Blue]

Which doesn't make sense if they only want to bid when in admin but keep ACL out of admin by paying silly money for games to be on?

Different if they want to go in with Ashley

 

[HuckerbyDublinWhelan]

Then that in itself is a reason why bond holders will have to accept a lower offer so they get something rather than nothing.

Not necessarily - if it goes into admin, you’re likely to attract more bidders therefore a bidding war

 

[Nick]

So why is every fucker speaking to the council?

 

[jordan210]

No way anyone is going to be able to clear the debts with a bid. Also they had weeks of being able to do that before going down to the wire.

This once again feels like a PR move. very similar to the last few days of wasps

 

[OyJimmy]

As I’ve said before we are dependent on events and are not masters of our own destiny. However buys ACL doesn’t have to buy CCFC. Sisu really has a weak hand.

 

[wingy]

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.

You'd expect some oversight of that.
No?

 

[aviles]

It was reported - Ex-Newcastle owner Mike Ashley held talks with Wasps about takeover - which is more than has been mentioned about us….which is actually just a rumour from here and social media.

I agree, its all rumours, ifs and buts at this stage. But you would think MA being the successful businessman that he is would know that the biggest potential lies with owning the stadium and CCFC

 

[Nick]

No way anyone is going to be able to clear the debts with a bid. Also they had weeks of being able to do that before going down to the wire.

This once again feels like a PR move. very similar to the last few days of wasps

That's the thing isn't it.

Unless Richardson is playing hardball and people are saying "you can have this else it goes into admin and you get fuck all"?

 

[Brighton Sky Blue]

Not necessarily - if it goes into admin, you’re likely to attract more bidders therefore a bidding war

The point would stand that you're still extremely unlikely to get £35 million through that process. Seems a bidding war is already underway as it is

 

[oldfiver]

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

Who appointed the Trustee?

Why did 2 amendments to correct WASPs defaults go through quickly while the Bondholders demands taking 6 months

 

[oldfiver]

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.

At any price? Bonkers

 

[Nick]

Who appointed the Trustee?

Why did 2 amendments to correct WASPs defaults go through quickly while the Bondholders demands taking 6 months

Surely illegal for somebody to choose a trustee to purposely rip people off?

 

[Otis]

I am puzzled. Unless it's been mentioned somewhere, why are NEC bidding if they don't need the stadium, what with them already having Birmingham and the events and facilities there?

Seems people are saying they won't be interested in the club or the stadium, but at the same time they don't need the events part of the Arena, because they already have Birmingham.

 

[CCFC_Irish]

At any price? Bonkers

That is where I anticipate they will sell up. They are not building a stadium.

 

[SBT]

I don't see why he wouldn't want to take on the club as well, it's another chance to make more money. Buy the club for whatever SISU ask for, get it into the top flight then name your price for the combination of a PL club and stadium complex.

Is there a chance that Ashley only wants the stadium? I know it’s not what’s been reported, but are CCFC really the potential money spinner that you’re suggesting here?

 

[Nick]

That is where I anticipate they will sell up. They are not building a stadium.

So you want them to buy at any price and then try and get somebody to buy it from them? Doesn't make any sense.

Almost like it's intended to try and get people angry that Gilbert has said sisu will bid if it goes into admin.

 

[CCFC_Irish]

I am puzzled. Unless it's been mentioned somewhere, why are NEC bidding if they don't need the stadium, what with them already having Birmingham and the events and facilities there?

Seems people are saying they won't be interested in the club or the stadium, but at the same time they don't need the events part of the Arena, because they already have Birmingham.

Identified a potential asset and have decided to try and acquire it is my guess.

 

[jordan210]

That's the thing isn't it.

Unless Richardson is playing hardball and people are saying "you can have this else it goes into admin and you get fuck all"?

It feels like they are just trying to buy time and see if anyone bites.

would not be suprised if they try and move debt around so Richardson is the biggest creditor if it does go in admin

The vultures are circling.

 

[Nick]

Identified a potential asset and have decided to try and acquire it is my guess.

By taking on shit loads of its debt?

 

[HuckerbyDublinWhelan]

The point would stand that you're still extremely unlikely to get £35 million through that process. Seems a bidding war is already underway as it is

Yeah, but you’d rather have 4/5 bidders than 2

 

[Evo1883]

Is there a chance that Ashley only wants the stadium? I know it’s not what’s been reported, but are CCFC really the potential money spinner that you’re suggesting here?

Let's suggest we can get to the Premier league within 3 seasons with under 30 million spent , there's 70 million and the purchase debt gone already .. the potential reward against the risk is huge..

 

[Brighton Sky Blue]

Is there a chance that Ashley only wants the stadium? I know it’s not what’s been reported, but are CCFC really the potential money spinner that you’re suggesting here?

Promotion to the top flight is a big enough incentive to attract a lot of other tycoons and wealthy folk to other Championship clubs. So to be honest, yes I kind of think they are.

It's why SISU took it on in the first place, at least notionally

 

[oldfiver]

Surely illegal for somebody to choose a trustee to purposely rip people off?

Careful - thats not what I said

The bondholders agreed to the Trustee document or more likely did not read it

 

[Evo1883]

I say 70 mill , it's a guaranteed 170 mill for promotion over 4 seasons

 

[CCFC_Irish]

By taking on shit loads of its debt?

If it turns into a bidding war SISU won't have any interest.