Wasps going into admin & the impact on CCFC (35 Viewers)

[skybluetony176]

If he is really the preferred bidder he’s got to be using the CBS as a Trojan horse to obtain CCFC. The more I think about it it’s the only thing that makes sense to me. SISU have clearly run their course if Ashley buys the CBS and given their history it’s probably caught up with them, Ashley has seen them for what they are and out manoeuvred them. SISU will be looking for an out, the club should be there for the taking and trying to use the courts to batter Ashley as per their MO isn’t going to work with Ashley, he’s proper minted, he owns a massive corporation and no doubt has a battalion of lawyers on retainer. I don’t think they could afford to take him on. Either in terms of timescale or financial outlay. If he takes ownership of the CBS they’ll be calling him I’d imagine not the other way around.

One step at a time though. Let’s see if he does actually buy the CBS first.

 

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[hill83]

It's so utterly depressing supporting this club at times

 

[Brighton Sky Blue]

Both SaddleBrains and Gilbert say so, which is about as confirmed as you get on this.

They probably have the same Council source. So not entirely sure how they would know about dialogue between two unrelated parties.

 

[Brylowes]

He might have been on about Jimmy Nail

Well he’s been known to Spender a‘bob or 2,

 

[jordan210]

Back in wasps land
"
Of course Mike Ashley will not have spoken to SISU. When and if he gets control of the Arena, he can rightly say that because it went in to administration the tenancy agreement CCFC had was ended. He can hardball them game to game, forcing them to only sell tickets at the last minute for each game. Because SISU, if they sell CCFC, will likely realise a loss, and will be keen to try to talk up the price. At the same time, SISU will stop paying creditors unless forced to, because if they subsequently sell the club, they would prefer to do so so without having to pay out any money in the meantime.

Joy's negotiating tactics won't work with Mike Ashley, he won't be doing her any favours."

 

[Grendel]

I can’t see wasps staying here now.

The RFU regulations are vague and exemptions can be made

Coventry have a championship club and wasps will struggle to get 2,000 a game. It would nowhere near cover costs of hire and anyway the supporters seem to recognise Coventry has to be a memory

Ashley buys businesses which are on the verge of administration - until this happens I can’t see him bothering to engage with Seppala

 

[Broken Hearted Sky Blue]

It's so utterly depressing supporting this club at times

I know isn’t it great I love it

 

[Grendel]

Back in wasps land
"
Of course Mike Ashley will not have spoken to SISU. When and if he gets control of the Arena, he can rightly say that because it went in to administration the tenancy agreement CCFC had was ended. He can hardball them game to game, forcing them to only sell tickets at the last minute for each game. Because SISU, if they sell CCFC, will likely realise a loss, and will be keen to try to talk up the price. At the same time, SISU will stop paying creditors unless forced to, because if they subsequently sell the club, they would prefer to do so so without having to pay out any money in the meantime.

Joy's negotiating tactics won't work with Mike Ashley, he won't be doing her any favours."

the tenancy agreement remains - its 8 years

 

[Nick]

Is it strange that it's all over Sky Sports if it's just a property deal?

To me who is overly cynical it seems like it's being pushed and stated a lot "he doesn't want the football club". Almost too much.

Somebody got in touch with Keys to tell him. Gilbert's source does seem to be on the council side rather than the club side (basing this on him knowing about planned meetings etc).

 

[duffer]

I hate the fucking wasps as much as anyone. I guess we (and they) would have to try and change the way we think about things if we were to have the same owner.
i don’t know that wasps/rugby in general would be that much of a money spinner for anyone though? It doesn’t seem to be.

This thread is moving way too quick for me, so only picking up snippets.
Do we definitely know there’s been no contact between MA and Susu (as definite as we can be about any of this). Sisu’s silence is deafening.

The talk of sisu selling has been happening for some time. Way before the collapse of wasps.

If Ashley isn't interested in us at the moment, then he'll definitely not be interested in Wasps.

Wasps will continue to drain money in the Championship no matter if they're here or elsewhere. They'll just do it more slowly because the wage bill will be lower and they've got a ton of debt off the books.

But they won't own their own stadium and unless you had a genuine affection for the club you'd never invest in them, imho.

Can't see Ashley being even slightly interested, imho.

 

[jordan210]

the tenancy agreement remains - its 8 years

Dont ruin their fun !

 

[djr8369]

Possibly decided to wait it out as it looks a lot like we aren’t far from admin.

That could be a good shout

 

[robbiethemole]

Lets get the Sky Blue Trust on the board.

I got a better idea, let’s throw the fuckers overboard

 

[Brylowes]

Can't quite work out why though. The Telegraph article mentions waffle about him liking to gamble at casinos and how that might be why he wants it.

The casinos he gambles in would likely take more on one roulette table in a night than the CBS casino takes in a month.

 

[AFCCOVENTRY]

Latest news from CET:

It’s understood that Ashley, for the time being at least, is only interested in the Arena and not currently looking to buy either Coventry City or Wasps RFC (it was announced this week that members of the Wasps Legends group have had a deal to buy the stricken Premiership rugby club approved by the joint administrators of Wasps Holdings Limited, subject to contract, and relating to the men’s team and academy sides only).

That stadium-only stance seems to go against Ashley’s usual modus operandi, having owned the Magpies for 13 years, had a stake in Rangers for three years and, more recently, attempted to buy Derby County and its Pride Park Stadium while the club was in administration in the summer.

It seems unlikely, therefore, that he would not want to bring Coventry City and the CBS Arena together, certainly in the long term.


In an ideal world the same people would own both the stadium and football club but second best has to be a solid relationship between the two – something that has not been case for the last 12 years.

It’s fair to say that for the football club to move forward it needs fresh and significant investment on the pitch. As things stand the Sky Blues are merely treading water in the Championship – last season saw them swim strongly and over achieve, given their limited budget, while this season has seen Mark Robins’s men fighting to keep their heads above water in the face of adversity, not least because of stadium issues.

 

[shmmeee]

Latest news:

It’s understood that Ashley, for the time being at least, is only interested in the Arena and not currently looking to buy either Coventry City or Wasps RFC (it was announced this week that members of the Wasps Legends group have had a deal to buy the stricken Premiership rugby club approved by the joint administrators of Wasps Holdings Limited, subject to contract, and relating to the men’s team and academy sides only).

That stadium-only stance seems to go against Ashley’s usual modus operandi, having owned the Magpies for 13 years, had a stake in Rangers for three years and, more recently, attempted to buy Derby County and its Pride Park Stadium while the club was in administration in the summer.

It seems unlikely, therefore, that he would not want to bring Coventry City and the CBS Arena together, certainly in the long term.

What’s that from?

Basically reads like half the posts on here.

 

[pusbccfc]

The casinos he gambles at would likely take more on one roulette table in a night than the CBS casino takes in a month.

That will all change when he turns up

 

[Great_Expectations]

First chance to try and catch up and this thread has moved on significantly since last night! Cannot read it all but from last page or so it looks as though Ashley is favourite.

Not enamoured by MA being the preferred bidder. Separation of club and stadium is the same mess we are in now. Any plan to get the club could go several different ways, with several different approaches. But knowing our luck we’ll end up in the middle being shit on.

Only glimmer of hope, my source (and I used the word lightly) - is definitely in a different circle to Gilbert/Saddlebrains - and they thought there were still several parties close and it wasn’t as clear cut as is being made out today. That was as recent as about 4 hours ago.

 

[The Philosopher]

If Ashley isn't interested in us at the moment, then he'll definitely not be interested in Wasps.

Wasps will continue to drain money in the Championship no matter if they're here or elsewhere. They'll just do it more slowly because the wage bill will be lower and they've got a ton of debt off the books.

But they won't own their own stadium and unless you had a genuine affection for the club you'd never invest in them, imho.

Can't see Ashley being even slightly interested, imho.

You never know. Wasps still has brand value in Rugby circles and is one good season away from top flight and some reasonable income. Players would rather play for Wasps than say Bedford Blues, all other things being equal.

Ashley is type of bloke who will give a Wasps ticket free with each pair of Thai made entry level adidas trainers and matching Slazenger hoody meal deal.

Just like some people (and kudos) predicted 4 years ago Ashley would come in once Wasps’ wings fell off I reckon he’ll end up with us and Wasps at the Sports Direct Arena.

Both in the Prem.

 

[shmmeee]

First chance to try and catch up and this thread has moved on significantly since last night! Cannot read it all but from last page or so it looks as though Ashley is favourite.

Not enamoured by MA being the preferred bidder. Separation of club and stadium is the same mess we are in now. Any plan to get the club could go several different ways, with several different approaches. But knowing our luck we’ll end up in the middle being shit on.

Only glimmer of hope, my source (and I used the word lightly) - is definitely in a different circle to Gilbert/Saddlebrains - and they thought there were still several parties close and it wasn’t as clear cut as is being made out today. That was as recent as about 4 hours ago.

 

[eastwoodsdustman]

Is it possible that Ashley has only moved for the stadium to give the football club some breathing space in the short term? We are all aware of the deadline for playing last nights game. I'd like to think that by bidding on the stadium first off he'll then have a bit of time sit down with Joy/SIsu and sort buying the club as well.

 

[Nick]

Only glimmer of hope, my source (and I used the word lightly) - is definitely in a different circle to Gilbert/Saddlebrains - and they thought there were still several parties close and it wasn’t as clear cut as is being made out today. That was as recent as about 4 hours ago.

Ashley is being pushed hard from the Council side I suspect and pushing it to the media as much as possible.

Would be interesting if there are still other parties.

 

[wingy]

It's Richardsons own administrator the others linked would have to have beat his bid?

 

[Nick]

It's Richardsons own administrator the others linked would have to have beat his bid?

Richardson's bid?

 

[wingy]

Richardson's bid?

Ashley's.

 

[shmmeee]

Ashley is being pushed hard from the Council side I suspect and pushing it to the media as much as possible.

Would be interesting if there are still other parties.

If that were the case, you’d expect a Sisu friendly outlet like the Observer to have been slipped a “Sisu aren’t dead yet” story.

Surely they see they have the PR upper hand here? Media saying Ashley doesn’t want the club, Robins saying (rightly) the club and ground should be together.

They could very easily play the “we are the only serious bidder (sorry Dawkins) that will unite the two, we deserve a chance to bid” angle and get a lot of fan support.

As with everything the last decade, I have no idea what they’re playing at.

 

[Brylowes]

I also don’t think SISU would let it happen. Their goal for years and years has always been the arena. Don’t see that they would just stand by and let someone nip in and take it away when it’s finally available

Hmmm Yeah, they’d never do that.

 

[MusicDating]

If that were the case, you’d expect a Sisu friendly outlet like the Observer to have been slipped a “Sisu aren’t dead yet” story.

Surely they see they have the PR upper hand here? Media saying Ashley doesn’t want the club, Robins saying (rightly) the club and ground should be together.

They could very easily play the “we are the only serious bidder (sorry Dawkins) that will unite the two, we deserve a chance to bid” angle and get a lot of fan support.

As with everything the last decade, I have no idea what they’re playing at.

This is only truism in all this!

 

[Nick]

If that were the case, you’d expect a Sisu friendly outlet like the Observer to have been slipped a “Sisu aren’t dead yet” story.

Surely they see they have the PR upper hand here? Media saying Ashley doesn’t want the club, Robins saying (rightly) the club and ground should be together.

They could very easily play the “we are the only serious bidder (sorry Dawkins) that will unite the two, we deserve a chance to bid” angle and get a lot of fan support.

As with everything the last decade, I have no idea what they’re playing at.

I think their silence is a positive to be honest.

It's when they do an article saying "We didn't get a fair chance" then I'd worry that the club is fucked.*

*even more.

 

[Great_Expectations]

Things may have moved on again - not had a chance to speak to them.

But I’m clinging onto any hope as it stands!!

 

[shmmeee]

Things may have moved on again - not had a chance to speak to them.

But I’m clinging onto any hope as it stands!!

Call them now! SBT demands it!

 

[Brighton Sky Blue]

If that were the case, you’d expect a Sisu friendly outlet like the Observer to have been slipped a “Sisu aren’t dead yet” story.

Surely they see they have the PR upper hand here? Media saying Ashley doesn’t want the club, Robins saying (rightly) the club and ground should be together.

They could very easily play the “we are the only serious bidder (sorry Dawkins) that will unite the two, we deserve a chance to bid” angle and get a lot of fan support.

As with everything the last decade, I have no idea what they’re playing at.

My ‘source’ close to Fisher et al said they would only be interested if the debt were gone. While it remains they either can’t afford or don’t want to take on extra liabilities.

 

[shmmeee]

My ‘source’ close to Fisher et al said they would only be interested if the debt were gone. While it remains they either can’t afford or don’t want to take on extra liabilities.

But they can afford to build a new ground?

 

[long way home]

I don't believe for 1 min that Ashley doesn't have his eye on the club. He will have all worked out and all his and Sisu's moves covered. If he does purchase the arena, Sisu at some stage will be at his door. Ashley owning the club and Arena will be just a matter of time in my opinion.

 

[Brighton Sky Blue]

But they can afford to build a new ground?

Nope. But did say they put in £4.5 million over the summer to cover losses then told Boddy ‘that’s yer lot’.

Hence the scrambling to sell Hyam on the cheap