Wasps going into admin & the impact on CCFC (44 Viewers)

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pusbccfc

pusbccfc

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Think someone answered this a few weeks back but what would be included in the purchase? The carparks? Land next to the station?
 
fernandopartridge

fernandopartridge

Well-Known Member
oldskyblue58 said:
But it's not like they didn't understand the concept of a prepack and the need to take time to set it up...... its pretty much what happened in 2014 when they moved ccfc to otium.

Also in all the recent discussions the prospect of it never came up ???

More inclined to believe they simply haven't got access to the funds
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I was thinking about this earlier, the investors they court I imagine are simply not going to be interested in a long term endeavour like this. Their deal for the stadium in 2012 might have allowed a flip to somebody else at profit but that's gone now.

Sent from my SM-G935F using Tapatalk
 
duffer

duffer

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There are a couple of things going round that I've got to say just don't add up to me.

First is the idea that Ashley would buy Wasps. That would make no sense at all. There is no money to be made from Wasps and he doesn't need to buy goodwill to purchase ACL; he's just got to have the best bid.

Second is the idea that the Council have any significant part to play. The only card the Council have to play is to refuse to assign the lease to a new owner. If ACL is purchased as a going concern I think that's irrelevant because the lease stays with ACL.

If ACL is broken up and the lease is sold by the administrator, then the freeholder (CCC) cannot unreasonably obstruct the transfer, that's the law as I understand it.

If the Council went nuclear and tried to revert the lease back into their own possession the bondholders will very likely take court action to protect their interests (a vesting order); but again the Council seem to have already accepted that wouldn't be a good idea.

Preferred bidder: I think the most likely scenario is either that Ashley's bid was either significantly bigger than SISU's, or that SISU (not having a pot to piss in) didn't even bother.

Duggins blathering on about getting the best bid for the city, is just a ton of shite to try to make him good. CCC sold their entire interest in the arena to Wasps years ago and hence have no real input into the administration process. He's just blowing smoke so that people forget what a shit idea that was.

Last one: The RFU let an existing club move their ground 80 miles to Coventry. The idea that they wouldn't let Wasps reform other than at the CBS because it's in their rules ignores completely how morally flexible (i.e. bent) they are. I'm not saying Wasps won't end up at the CBS again, but I'm pretty certain that if they do, it won't be because the RFU have suddenly grown a spine.

And with apologies for that overly long post, I'll call it a night. Evening all...
 
shmmeee

shmmeee

Well-Known Member
What is it about CCFC fans that the more someone says they don’t want to buy something, the more convinced we are they really want to buy it?
 
CCFC_Irish

CCFC_Irish

Well-Known Member
shmmeee said:
What is it about CCFC fans that the more someone says they don’t want to buy something, the more convinced we are they really want to buy it?
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There is potentially a few reasons but then not a lot of us are business minded. Misguided optimism possibly.

Realistically Mike Ashley could buy a few clubs and is reportedly on the lookout for one and his link to the CBS has piqued peoples interest. If he is staying away from Coventry City, there is either something really bad bubbling underneath that will be catastrophic for Coventry the fans don't know about, SISU are playing hardball but it is dawning on them they have no stadium, or he has made an offer but he or SISU don't want the news getting out. I dunno, it is a clusterfuck.
 
L

Legia Sky Blue

Well-Known Member
duffer said:
There are a couple of things going round that I've got to say just don't add up to me.

First is the idea that Ashley would buy Wasps. That would make no sense at all. There is no money to be made from Wasps and he doesn't need to buy goodwill to purchase ACL; he's just got to have the best bid.

Second is the idea that the Council have any significant part to play. The only card the Council have to play is to refuse to assign the lease to a new owner. If ACL is purchased as a going concern I think that's irrelevant because the lease stays with ACL.

If ACL is broken up and the lease is sold by the administrator, then the freeholder (CCC) cannot unreasonably obstruct the transfer, that's the law as I understand it.

If the Council went nuclear and tried to revert the lease back into their own possession the bondholders will very likely take court action to protect their interests (a vesting order); but again the Council seem to have already accepted that wouldn't be a good idea.

Preferred bidder: I think the most likely scenario is either that Ashley's bid was either significantly bigger than SISU's, or that SISU (not having a pot to piss in) didn't even bother.

Duggins blathering on about getting the best bid for the city, is just a ton of shite to try to make him good. CCC sold their entire interest in the arena to Wasps years ago and hence have no real input into the administration process. He's just blowing smoke so that people forget what a shit idea that was.

Last one: The RFU let an existing club move their ground 80 miles to Coventry. The idea that they wouldn't let Wasps reform other than at the CBS because it's in their rules ignores completely how morally flexible (i.e. bent) they are. I'm not saying Wasps won't end up at the CBS again, but I'm pretty certain that if they do, it won't be because the RFU have suddenly grown a spine.

And with apologies for that overly long post, I'll call it a night. Evening all...
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Another thing that doesn't add up is Ashley only being interested in controlling the arena. His previous attempt to take over Derby suggests that he wants back into football. Common sense also indicates that the fortunes of CCFC will provide a focal point for publicity surrounding the arena, over and above any other activity connected to it. The more successful CCFC are, the more attention then gets drawn to the arena itself, so MA therefore has a vested interest in the club's success. Would he want that left in the hands of a 3rd party and out of his control? It is not feasible to me that he will happily leave the fortunes of the football club in the hands of SISU, who do not appear to want to invest any further in it.

While I acknowledge that he is unlikely to look for a deal of ownership of CCFC until after the ACL purchase is completed, I find it hard to imagine some contact hasn't already been made with SISU to test the water, despite the reports that there hasn't been any. I wouldn't be half surprised if some kind of deal is done whereby MA buys a 51% share in CCFC from SISU, allowing him effective control, which then allows SISU the hope that they can still profit should the club ever make the PL, while getting someone else to provide the investment necessary to achieve that, and which they don't want to or can't provide.
 
CCFC_Irish

CCFC_Irish

Well-Known Member
Legia Sky Blue said:
Another thing that doesn't add up is Ashley only being interested in controlling the arena. His previous attempt to take over Derby suggests that he wants back into football. Common sense also indicates that the fortunes of CCFC will provide a focal point for publicity surrounding the arena, over and above any other activity connected to it. The more successful CCFC are, the more attention then gets drawn to the arena itself, so MA therefore has a vested interest in the club's success. Would he want that left in the hands of a 3rd party and out of his control? It is not feasible to me that he will happily leave the fortunes of the football club in the hands of SISU, who do not appear to want to invest any further in it.

While I acknowledge that he is unlikely to look for a deal of ownership of CCFC until after the ACL purchase is completed, I find it hard to imagine some contact hasn't already been made with SISU to test the water, despite the reports that there hasn't been any. I wouldn't be half surprised if some kind of deal is done whereby MA buys a 51% share in CCFC from SISU, allowing him effective control, which then allows SISU the hope that they can still profit should the club ever make the PL, while getting someone else to provide the investment necessary to achieve that, and which they don't want to or can't provide.
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There is absolutely no way this is going to happen. SISU put nothing into the club yet you expect MA to put all the money in while they do nothing but profit from it.
 
Astute

Astute

Well-Known Member
Well that was a long read 😴 💤

So we don't know for sure that Ashley is the preferred bidder yet we seem to know for sure that there has been no communication between Ashley and SISU 🤔

CCFC has been for sale since SISU took over. The only problem is for most of the time we haven't been worth anywhere near what they would accept.

My guess would be that Ashley is the preferred bidder and has been in contact with Joy. Why would anyone be informed of private meetings? Those who have told us that Ashley has not been in discussion in taking over our club are not in a position to know. They might have been in contact for ages waiting to see what happens when the bonds were due.

My reasoning is the lack of player sales. The only player to be sold was after we knew that we had a lack of income at the start of the season. And it wasn't one of our main valuable players who would have raised even more money. SISU wouldn’t want to put another penny in if a deal had already been agreed. And what use would buying our club have if he couldn't purchase the ground? Ashley would be able to recoup half/most of the outlay for our club on players values/sales.


Cost? A total guess but ACL in administration. Offer 60p in the £. Most bond investors will still have made a profit on something that has gone so wrong. Total of 21m. 30m to SISU?

Could all be done by the January transfer deadline. Wouldn't take much for us to become a top 6 side. Already showing we have the nucleus of a good team. Just 6 months with promotion would gain Ashley more than double his initial outlay.
 
clint van damme

clint van damme

Well-Known Member
Astute said:
Well that was a long read 😴 💤

So we don't know for sure that Ashley is the preferred bidder yet we seem to know for sure that there has been no communication between Ashley and SISU 🤔

CCFC has been for sale since SISU took over. The only problem is for most of the time we haven't been worth anywhere near what they would accept.

My guess would be that Ashley is the preferred bidder and has been in contact with Joy. Why would anyone be informed of private meetings? Those who have told us that Ashley has not been in discussion in taking over our club are not in a position to know. They might have been in contact for ages waiting to see what happens when the bonds were due.

My reasoning is the lack of player sales. The only player to be sold was after we knew that we had a lack of income at the start of the season. And it wasn't one of our main valuable players who would have raised even more money. SISU wouldn’t want to put another penny in if a deal had already been agreed. And what use would buying our club have if he couldn't purchase the ground? Ashley would be able to recoup half/most of the outlay for our club on players values/sales.


Cost? A total guess but ACL in administration. Offer 60p in the £. Most bond investors will still have made a profit on something that has gone so wrong. Total of 21m. 30m to SISU?

Could all be done by the January transfer deadline. Wouldn't take much for us to become a top 6 side. Already showing we have the nucleus of a good team. Just 6 months with promotion would gain Ashley more than double his initial outlay.
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Re your theory on player sales, it did look as though COH was Burnley bound at one point and then he got injured.
 
Astute

Astute

Well-Known Member
clint van damme said:
Re your theory on player sales, it did look as though COH was Burnley bound at one point and then he got injured.
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Yes look. And looked like others were being sold but were not. It looked like other offers were rejected.

And every player at every club has a price. Especially at our club.
 
D

djr8369

Well-Known Member
shmmeee said:
Look I know for a fact he did, I’ll leave it at that. There was never a planned meeting about bailing Wasps out.

Also look at the tone of that interview, hardly friendly softball questions.

Who are you talking about when you say “the council” if not the leader of the council? Is the bloke who sweeps the streets scuppering Sisu?
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Didn’t Duggins admit there was a meeting planned but said it wasn’t needed in the end?
 
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