Wasps going into admin & the impact on CCFC (232 Viewers)

Status
Not open for further replies.
D

Deleted member 5849

Guest
Again, I'm not saying the council have screwed SISU, or at least I wasn't. I'm just interested in exactly what they have done here.

But if you're saying that the Council gave advance notice to Ashley about ACL going into adminstration and didn't tell SISU, this so that Ashley got an advantage as the council's 'preferred' bidder, then clearly they're not acting neutrally. That's got echoes of the secret deal to Wasps all over it and does concern me. Not because I love SISU, but because I expect the Council to adhere to proper standards and not get into secret deals and playing favourites.

All of this of course is supposition. SISU haven't said anything yet, and I seriously doubt they had the wherewithal to finance a bid in any case. It's not for the council to get involved though regardless.
You'd hope SISU would have noticed when things weren't done around the stadium (pitch! And... other things) that they might have had a clue that things were about to go pear shaped.

As much of a clue as CCC would have had, in fact.
 

skybluetony176

Well-Known Member
Again, I'm not saying the council have screwed SISU, or at least I wasn't. I'm just interested in exactly what they have done here.

But if you're saying that the Council gave advance notice to Ashley about ACL going into adminstration and didn't tell SISU, this so that Ashley got an advantage as the council's 'preferred' bidder, then clearly they're not acting neutrally. That's got echoes of the secret deal to Wasps all over it and does concern me. Not because I love SISU, but because I expect the Council to adhere to proper standards and not get into secret deals and playing favourites.

All of this of course is supposition. SISU haven't said anything yet, and I seriously doubt they had the wherewithal to finance a bid in any case. It's not for the council to get involved though regardless.
Think of it as a horse race. The start line was NOI to appoint an administrator. MA and the NEC turned up with a horse each. And they’re off and the NEC has fallen at the first hurdle called outbid on a pre packed administration leaving MA in the lead of a 2 horse race as the preferred bidder. Meanwhile SISU still hasn’t got the horse out of the stable let alone to the race track.
 

Nick

Administrator
program notes if anyone wants it

Good evening and welcome to the Coventry Building Society Arena for tonight’s game against Wigan Athletic in the Sky Bet Championship. I would also like to welcome the players, staff, officials and supporters who join us here for the game tonight.

It is a relief that we are able to welcome people here to the Arena at all, following events outside of our control in recent weeks over the future of Wasps and Arena Coventry Limited (ACL).


There were times during the last few weeks where it appeared likely that ACL could have gone into liquidation instead of administration, and that would have been catastrophic for the company and its employees – and would have resulted in ACL being wound up and the doors being locked at the Arena.
Thankfully that situation was averted but that was a real risk in the build up to recent games, especially the midweek match against Blackburn Rovers which was a day after ACL’s notice of intention to go into administration would end. Ahead of that game, we were required by the EFL to put in place an alternative backup plan to ensure that the fixture would be fulfilled. This was a last resort and would have been very distressing for our supporters and the Club as a whole, but it was important to have this in place to avoid a further postponement and the real risk of a point deduction.
These plans were thankfully not needed in the end, but I would like to thank Walsall FC and their staff for their support in making these plans at short notice for that game.
Through the last few weeks, we have been in constant dialogue with Arena Coventry Limited and Coventry City Council about the situation. The Council have been clear with us about their determination that we continue to be able to play our games at the Arena and their support as much as possible for that to happen. I would like to thank them and their officials for that support, in particular Chief Executive Martin Reeves who has put in much work to achieve that aim.
Even on the day of the Rotherham United match, there were continued doubts about the ability for us to fulfil the game at the Arena due to the ACL situation. It has been widely reported that the Club were required to make additional payments for the game against Blackpool to go ahead, and that was also the case on the day of the Rotherham fixture. Some of these fees related to payments that had not been made to ACL initially, as a result of our damages claim at the start of the season due to the pitch not being safe for us to play, while others did not - but it was made clear that these payments had to be made by us to ACL so we could play at the Arena, and also ensured the Arena as a whole avoided going into liquidation and helped ensure ACL staff got paid.
Much of our time over the last few weeks has been spent speaking to different parties and making various plans for different circumstances here at the Arena and elsewhere – thankfully those plans have remained unused, and we have been able to fulfil fixtures as usual.
The situation has been outside of our control, and the Football Club’s lack of ownership over its stadium goes back nearly two decades since the move from Highfield Road. It remains incredibly frustrating that much of our time has to be spent dealing with issues about stadiums – whether it is the situation in recent weeks, or over the years issues like groundsharing, pitch problems or negotiating short-term fixes to what is a long-term issue – and I share the frustration which I know is most felt by our supporters.
The ownership of the Arena in the future remains, at the time of writing, unclear. What is clear however is that this Arena was built for this Football Club and that the future success and stability of this venue should go hand-in-hand with that of the Sky Blues.
Thanks for your support as always – PUSB.
Yet again the club keeping ACL afloat.

Let's hope ACL being sold to whoever turns out for the best of the club too.
 

wingy

Well-Known Member
Wonder what the split was regards what we'd withheld plus on top?
Reportedly £180k for the pitch, reports of £150k input prior to Rotherham or Blackburn games?
 

chiefdave

Well-Known Member
Think of it as a horse race. The start line was NOI to appoint an administrator. MA and the NEC turned up with a horse each. And they’re off and the NEC has fallen at the first hurdle called outbid on a pre packed administration leaving MA in the lead of a 2 horse race as the preferred bidder. Meanwhile SISU still hasn’t got the horse out of the stable let alone to the race track.
Although if you think there's any truth in what Byng has said MA's horse would have been halfway round the track before anyone else knew there was a race on.

It all bears a remarkable similarity to what came out over the years about the deal with Wasps where, if I recall correctly, it emerged ACL / CCC had initiated contact with Wasps suggesting a move to the city rather than the other way round.

History repeating itself? I would certainly like to think the council was no longer 'anyone but SISU' and even if they were they wouldn't have enough influence over proceedings but we seem to have very quickly gone from people saying it has absolutely nothing to do with CCC to of course they're involved but have no real say in the outcome to Reeves having to sign an NDA and being heavily involved.

Think people are also falling into that old thing of 'its all SISUs fault', or 'it's all CCCs fault' when things are rarely that straightforward.
 

ceetee

Well-Known Member
I wouldn't expect Boddy to say anything about the Stadium project at Warwick Uni. He's made it clear in the past that this is not a CCFC project, it's a SISU project. He's distanced himself from it as he probably has the same opinion as most of us that it's a straw man project to use as a bargaining position.
 

shmmeee

Well-Known Member
Although if you think there's any truth in what Byng has said MA's horse would have been halfway round the track before anyone else knew there was a race on.

It all bears a remarkable similarity to what came out over the years about the deal with Wasps where, if I recall correctly, it emerged ACL / CCC had initiated contact with Wasps suggesting a move to the city rather than the other way round.

History repeating itself? I would certainly like to think the council was no longer 'anyone but SISU' and even if they were they wouldn't have enough influence over proceedings but we seem to have very quickly gone from people saying it has absolutely nothing to do with CCC to of course they're involved but have no real say in the outcome to Reeves having to sign an NDA and being heavily involved.

Think people are also falling into that old thing of 'its all SISUs fault', or 'it's all CCCs fault' when things are rarely that straightforward.

Its all Mike Ashley’s fault?
 

Grendel

Well-Known Member
Although if you think there's any truth in what Byng has said MA's horse would have been halfway round the track before anyone else knew there was a race on.

It all bears a remarkable similarity to what came out over the years about the deal with Wasps where, if I recall correctly, it emerged ACL / CCC had initiated contact with Wasps suggesting a move to the city rather than the other way round.

History repeating itself? I would certainly like to think the council was no longer 'anyone but SISU' and even if they were they wouldn't have enough influence over proceedings but we seem to have very quickly gone from people saying it has absolutely nothing to do with CCC to of course they're involved but have no real say in the outcome to Reeves having to sign an NDA and being heavily involved.

Think people are also falling into that old thing of 'its all SISUs fault', or 'it's all CCCs fault' when things are rarely that straightforward.

Everyone knew a race was on as soon as the first wasps holdings Notice appeared. At that point serious bidders would have started to look at putting an offer together
 

jordan210

Well-Known Member
imagine the melt down at the council house when it all transpires MA is a double agent for CCFC and gets the stadium for the club on the cheap.


But back int he real world. more than likely CCFC will get screwed over
 

Sky Blue Pete

Well-Known Member
Although if you think there's any truth in what Byng has said MA's horse would have been halfway round the track before anyone else knew there was a race on.

It all bears a remarkable similarity to what came out over the years about the deal with Wasps where, if I recall correctly, it emerged ACL / CCC had initiated contact with Wasps suggesting a move to the city rather than the other way round.

History repeating itself? I would certainly like to think the council was no longer 'anyone but SISU' and even if they were they wouldn't have enough influence over proceedings but we seem to have very quickly gone from people saying it has absolutely nothing to do with CCC to of course they're involved but have no real say in the outcome to Reeves having to sign an NDA and being heavily involved.

Think people are also falling into that old thing of 'its all SISUs fault', or 'it's all CCCs fault' when things are rarely that straightforward.
Yeah last paragraph absolutely true
 

Grendel

Well-Known Member
Yeah last paragraph absolutely true

Well it is the owners responsibility after 15 years to have a secure base on a stadium. It’s also down to them that they failed to make an attempt at purchase when this stadium became available

It’s pathetic
 

Sky Blue Pete

Well-Known Member
Well it is the owners responsibility after 15 years to have a secure base on a stadium. It’s also down to them that they failed to make an attempt at purchase when this stadium became available

It’s pathetic
Would be your non prejudiced and unbiased opinion I understand

How can you bid for something you don’t know the value of
 

HuckerbyDublinWhelan

Well-Known Member
Would be your non prejudiced and unbiased opinion I understand

How can you bid for something you don’t know the value of
I’ll play this game, when Wasps went belly up - did they attempt to contact them or their administrators? Or were they waiting for the company to go into admin first.

if they’d requested this - and we’re blocked I’d go along with it
 

Grendel

Well-Known Member
Would be your non prejudiced and unbiased opinion I understand

How can you bid for something you don’t know the value of

given they’ve resided in the stadium I think they’d have a fair idea. Oddly Seppalla could have spoke to Richardson if she’s that interested and asked, I doubt he’d care who bought it.

They could easily on first filing of notice made a direct approach
 
D

Deleted member 5849

Guest
Everyone knew a race was on as soon as the first wasps holdings Notice appeared. At that point serious bidders would have started to look at putting an offer together
Before that, surely. I mean, the club must have had a clue or two(!)
 

SkyblueDad

Well-Known Member
It depends what his offer is though.
If he's offered 10 million for example, and a Premier league club offers 15 million for Gyokeres, then Sisu will sell.
Only if Gyo or anyone else agree to go, sisu are stuck between a rock and a hard place, if they are desperate for transfer money.
 

DannyThomas_1981

Well-Known Member
Think of it as a horse race. The start line was NOI to appoint an administrator. MA and the NEC turned up with a horse each. And they’re off and the NEC has fallen at the first hurdle called outbid on a pre packed administration leaving MA in the lead of a 2 horse race as the preferred bidder. Meanwhile SISU still hasn’t got the horse out of the stable let alone to the race track.

Let's be honest as well to complete this analogy, SISU has a poor old cart horse on it's last legs hobbling out of the stable whilst the two thoroughbreds are going into the final furlong.
 

Grendel

Well-Known Member
Before that, surely. I mean, the club must have had a clue or two(!)

The other thing of course is Seppala is adamant that the club have funds to build a totally brand new stadium so once the owner of the one they are in wants out it’s clear they’d have more than enough money to buy and could use the considerable spare change to invest in the team
 

skybluetony176

Well-Known Member
Although if you think there's any truth in what Byng has said MA's horse would have been halfway round the track before anyone else knew there was a race on.

It all bears a remarkable similarity to what came out over the years about the deal with Wasps where, if I recall correctly, it emerged ACL / CCC had initiated contact with Wasps suggesting a move to the city rather than the other way round.

History repeating itself? I would certainly like to think the council was no longer 'anyone but SISU' and even if they were they wouldn't have enough influence over proceedings but we seem to have very quickly gone from people saying it has absolutely nothing to do with CCC to of course they're involved but have no real say in the outcome to Reeves having to sign an NDA and being heavily involved.

Think people are also falling into that old thing of 'its all SISUs fault', or 'it's all CCCs fault' when things are rarely that straightforward.
Yeah but Byng…

Also if he was half way around the track NEC was at least neck and neck to the first hurdle. You’ve got to be in it to win it and there’s no evidence to suggest that SISU were ever in it having not unbolted the stable door.
 

Sky Blue Pete

Well-Known Member
I’ll play this game, when Wasps went belly up - did they attempt to contact them or their administrators? Or were they waiting for the company to go into admin first.

if they’d requested this - and we’re blocked I’d go along with it
I’ll play the game too as I only get told what people want me to know or hear

Conversations were taking place to get games on with ccc and reeves including significant sums of money being given to acl under noi to admin and potentially moving forward about the lease

At this point conversations stopped

Now I’m very happy I’m receiving answers to my specific questions and not from an unbiased position.

Why did they stop? Well it looks like Ashley turned up with a solution that didn’t involve sisu.

How could sisu bid for something without having conversations with the directors or potential administrators about the value of the assets / asset?

I’m sure if money were no object you could or if conversations were happening about how to make it possible that also would too.

You want facts ask joy or Dave or Derek or martin but they’re not gonna tell us fuckwits
 

Sky Blue Pete

Well-Known Member
given they’ve resided in the stadium I think they’d have a fair idea. Oddly Seppalla could have spoke to Richardson if she’s that interested and asked, I doubt he’d care who bought it.

They could easily on first filing of notice made a direct approach
And you are adamant they didn’t speak to or try to speak to the directors of acl? I’m not
 

clint van damme

Well-Known Member
I'm still struggling to see how it's CCC's fault in the slightest.

I'm not sure 'fault' would be appropriate for SISU in this particular instance, I suspect it's more 'don't have the cash available'. But as they appear to be using a few trojan Byngs to do the poor me, they lose sympathy hand over fist.

I can't see how those handling the sale could sideline a bid the equivalent of, or greater than, Ashley's just because they had reeves or one of his cronies whispering in their ear.
Just doesn't add up on this occasion.
 
Status
Not open for further replies.

Users who are viewing this thread

Top