Wasps going into admin & the impact on CCFC (210 Viewers)

[Flying Fokker]

Simon Gilbert adamant that Mike Ashley hasn’t been in touch with SISU. I wonder if SISU are watching from the sidelines thinking WTF is going on like the rest of us. Joy checking her phone every couple of minutes to see if she’s had a missed call from Mike Ashley.

It‘s smoke and mirrors. As soon as a threat of legal action comes his way. “I know nothing.“.

 

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[Otis]

Yawn. No one is biting. You're too boring to even be a decent troll.

Off to bed now son, you've got school tomorrow.

They let him back in?

 

[skyblu3sk]

I’m still waiting for someone to explain why I should have a burning hatred of the Wasps just because…

*checks notes*

…they purchased a ground our owners never had any intention of buying?

 

[BodicoteSkyBlue]

Ashley here, as is Warren Barton. Photographers in the lounges too

As long as it’s not Joey Barton!

 

[clint van damme]

Can we have some system where people who are just speculating bollocks (like me) say that and people who actually have some level of information say that?

I have no Fucking clue who to listen to

We need a testicle emoji

 

[skyblu3sk]

We need a testicle emoji

 

[Philosoraptor]

I wonder if CCC will now forfeit the head lease to ACL2006 because ACL2006 has become unable to pay its debts.

It is in the prospectus.

 

[Old Warwickshire lad]

That’s a bite though

Nah he’s just telling the kids it’s bedtime.

 

[Otis]

Nah he’s just telling the kids it’s bedtime.

I think his parents keep taking his phone off him, hence the constant new usernames.

His school mates must be sick to death of lending him their phones every playtime.

 

[skyblu3sk]

He set aside £50 million to take on a League 1 club with a no mod cons stadium.

The only downside for us vs Derby is they have averaged higher attendances than us for quite some time. I think with us there is potential to grow the fan base but its not guaranteed.

 

[skyblu3sk]

Frasers lines up bid for Wasps rugby stadium Telegraph seems to think NEC have dropped out.

 

[SuperFred]

Haven't read the whole thread so apologies if it's already been mentioned.

It's been reported that Mike Ashley wants to get back into football. If he buys the Ricoh, surely the EFL wouldn't let him buy another football League club? It's a conflict of interest. His only chance to get back into football would be through us.

 

[Sky Blue Harry H]

Can't be Ashley, born in Walsall

I know he isn't a Geordie, but it was obvious who Oggy was referring to !!

 

[The Philosopher]

Haven't read the whole thread so apologies if it's already been mentioned.

It's been reported that Mike Ashley wants to get back into football. If he buys the Ricoh, surely the EFL wouldn't let him buy another football League club? It's a conflict of interest. His only chance to get back into football would be through us.

That point about conflict of interest if Ashley buys the stadium is a valid observation.

Don’t think anyone else has noticed and mentioned that.

 

[Sky Blue Harry H]

Haven't read the whole thread so apologies if it's already been mentioned.

It's been reported that Mike Ashley wants to get back into football. If he buys the Ricoh, surely the EFL wouldn't let him buy another football League club? It's a conflict of interest. His only chance to get back into football would be through us.

If he bought the stadium but not us, I'm not sure there is an obvious conflict of interest (or not one I can see)

 

[Brighton Sky Blue]

The only downside for us vs Derby is they have averaged higher attendances than us for quite some time. I think with us there is potential to grow the fan base but its not guaranteed.

A league below though and he was proposing some pretty charitable terms to them.

 

[skyblu3sk]

A league below though and he was proposing some pretty charitable terms to them.

Agreed, definitely not saying he isn't interested just he would need to take that in to account. In theory the revenue from the conferencing side should more than cover it so could balance out.

 

[Brighton Sky Blue]

Agreed, definitely not saying he isn't interested just he would need to take that in to account. In theory the revenue from the conferencing side should more than cover it so could balance out.

Interesting there were rumours he wanted to buy Ipswich when he was first trying to sell Newcastle. Similar talk of wanting to establish business in the local area etc.

 

[The Philosopher]

If he bought the stadium but not us, I'm not sure there is an obvious conflict of interest (or not one I can see)

It’s a tricky one.

Could it be implied that he had some kind of control / influence over CCFC with the finances.

I admit it’s probably a grey area but the inference is that if he were to in future buy, say, Birmingham and their ground would they allow that? He could technically move them? He could financially impact a rival (us). Again, a stretch, but from memory the FL put some strict stadium rules in place after Wimbledon/MK Dons. It might fall under that.

Just speculation but I think the OP has a valid point.

 

[It’sabatch87]

But what does it all mean!?

We wanna get loaded

 

[AFCCOVENTRY]

Interesting there were rumours he wanted to buy Ipswich when he was first trying to sell Newcastle. Similar talk of wanting to establish business in the local area etc.

It’s clever what he’s doing. Means he will get planning permission for warehouses, offices, crate jobs etc… council and locals will embrace it. In the meantime he wants bit of a hobby and the club would be complimentary to his empire building in the city.

 

[TomRad85]

Someone please make a gif of Princess Leia kneeling in front of R2 saying "help me Mike Ashley, you're my only hope". Thanks in advance.

Sent from my SM-G973F using Tapatalk

 

[Brighton Sky Blue]

Someone please make a gif of Princess Leia kneeling in front of R2 saying "help me Mike Ashley, you're my only hope". Thanks in advance.

Sent from my SM-G973F using Tapatalk

If nobody has done that by tonight I’ll do that with his face on the robot

 

[TomRad85]

If nobody has done that by tonight I’ll do that with his face on the robot

Even better, thanks mate.

 

[Sky Blue Pete]

Willingly or not, if any potential buyer isn't breaching the terms of the lease then I think there's very little the council could do about it without ending up in court again. In essence they can't
"unreasonably" prevent a transfer (assignment) of the lease.

Of course, I guess there isn't even a transfer if ACL is purchased whole, so even less chance of the council being involved.

Dealing with Tenant Requests For Alterations And Assignment | FAQs | Penningtons Manches Cooper

Below are some answers to frequently asked questions regarding tenants’ requests for alterations and assignment of their lease.

www.penningtonslaw.com

Consents through the looking glass – a re-examination of consents in alienation clauses

Dellah Gilbert reviews case law relating to the often contentious topic of landlords granting consent to a prospective tenant when an existing tenant wishes to move on.

www.lexology.com

They are very involved though

 

[SkyblueDad]

This is a Case of one step at a time Wasps gone kaput, ground soon to be sorted, Wasp signs I’m sure soon to be removed and then the club purchased not necessarily by the new ground owner was told ages ago prepare for a happy sky blue Christmas after 15 years I’m prepared to be patient a bit longer.

 

[torchomatic]

Just saying, once you add up that, the Keys comment and the Telegraph article it very much looks like he just wants the stadium.

Hanging on the word of Keys? Really?

 

[SHUNT31]

 

[Sick Boy]

It’s a tricky one.

Could it be implied that he had some kind of control / influence over CCFC with the finances.

I admit it’s probably a grey area but the inference is that if he were to in future buy, say, Birmingham and their ground would they allow that? He could technically move them? He could financially impact a rival (us). Again, a stretch, but from memory the FL put some strict stadium rules in place after Wimbledon/MK Dons. It might fall under that.

Just speculation but I think the OP has a valid point.

In that case we wouldn’t have been able to play at Birmingham.

 

[shmmeee]

Hanging on the word of Keys? Really?

No, what gave you that impression?

 

[duffer]

They are very involved though

I'm not sure what the Council can actually do though, Pete.

They don't have a stake in ACL or ACL 2006, so they have no say in the possible sale of those entities.

They can't "unreasonably" prevent the transfer of the lease; "but SISU" isn't likely to cut it in court.

The lease isn't going to automatically revert to them if ACL/ACL 2006 enter administration because of the bondholders' mortgage on it. Again that could end up in court if the point is pushed.

The Council, having washed their hands of ACL by selling to Wasps, without any real care regarding the impact to CCFC (as demonstrated since), are going to struggle to insert themselves back into this even if they wanted to, imho.

They'll obviously look to take credit for something if they can though, because that's what they do.

 

[Sky Blue Pete]

I'm not sure what the Council can actually do though, Pete.

They don't have a stake in ACL or ACL 2006, so they have no say in the possible sale of those entities.

They can't "unreasonably" prevent the transfer of the lease; "but SISU" isn't likely to cut it in court.

The lease isn't going to automatically revert to them if ACL/ACL 2006 enter administration because of the bondholders' mortgage on it. Again that could end up in court if the point is pushed.

The Council, having washed their hands of ACL by selling to Wasps, without any real care regarding the impact to CCFC, (as demonstrated since), are going to struggle to insert themselves back into this even if they wanted to, imho.

They'll obviously look to take credit for something though if they can though, because that's what they do.

What do you think Cllr Duggins is doing then?

 

[shmmeee]

I'm not sure what the Council can actually do though, Pete.

They don't have a stake in ACL or ACL 2006, so they have no say in the possible sale of those entities.

They can't "unreasonably" prevent the transfer of the lease; "but SISU" isn't likely to cut it in court.

The lease isn't going to automatically revert to them if ACL/ACL 2006 enter administration because of the bondholders' mortgage on it. Again that could end up in court if the point is pushed.

The Council, having washed their hands of ACL by selling to Wasps, without any real care regarding the impact to CCFC, (as demonstrated since), are going to struggle to insert themselves back into this even if they wanted to, imho.

They'll obviously look to take credit for something though if they can though, because that's what they do.

People have a very overinflated view of what a council can actually do. Always have not just with this. See people blaming the council for the number of students or how an office block is painted or a million other things. It’s one step up from “they” in every other conspiracy theory.

 

[Sky Blue Pete]

People have a very overinflated view of what a council can actually do. Always have not just with this. See people blaming the council for the number of students or how an office block is painted or a million other things. It’s one step up from “they” in every other conspiracy theory.

I agree it’s why I always look to individuals to take responsibility and accountability for what we or they do.

 

[SBT]

As I said yesterday - just because we as City fans think it’s obvious that buying the stadium and then immediately buying the club is an elegant, popular and lucrative solution doesn’t mean that any outside investors automatically see it that way.