Wasps going into admin & the impact on CCFC (42 Viewers)

[fatso]

Hmmm well

1. We had 2 promotions because we had 2 relegations. Nearly a decade in the third tier and below, becoming basically a footballing irrelevance. Still a good chunk of our support sees us as a plucky underdog in a league where our crowds suggest we ought to aim high.

2. There was no continued support for MR. Most of the money Robins got to spend since he rejoined we owe to the Maddison and Wilson sales, and in fact during this time we know that SISU helped themselves to a few million.

I mean look at what happened this season. Refusal to provide even bridging finance to help with the pitch or cashflow issues that arose from it. We were forced to bung off a first choice player against the manager's wishes because the owners refused to put anything in to help. Simply put, he has worked a minor miracle to get us to our current league position and it's despite rather than because of his bosses.

3. Monumental fuck up would be an understatement. The failed plan to bust ACL which gift wrapped the stadium for Wasps for 8 years and saw us leave the city not once but twice, hitting our own revenues and making the manager's job harder. The deranged obsession with getting the ground for a minimal fee became the only endgame and when it finally arrived through Wasps' demise, they've been beaten to the punch anyway.

4. Mike Ashley put in £250 million just to buy Newcastle and clear its debts. Their net spend during his reign was some hefty 9 figure sum on top of that and he left them in an excellent financial position despite that.

As far as we're concerned it's about as good as we could realistically hope for.

I agree that Ashley is as good as we could possibly wish for, but he didn't want to know us 15 years ago, and nor did anyone else!
And this myth that Sisu is creaming money out of the club is rediculous, we've cost them a fortune over the years, we were hemorrhaging money for years, and player sales barely covered our financial liabilities. How come no one asks why we were si poorly run before we were very nearly made bankrupt?

 

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[shmmeee]

But Sisu wernt the ones who hit the iceberg, they are the ones who plucked you out of the icy water, then dropped you safely on dry land, while you screamed at the top of your voice that it wasn't the fucking Bahamas.

There’s no helping you. No one made them break the lease and move the club.

 

[shmmeee]

I agree that Ashley is as good as we could possibly wish for, but he didn't want to know us 15 years ago, and nor did anyone else!
And this myth that Sisu is creaming money out of the club is rediculous, we've cost them a fortune over the years, we were hemorrhaging money for years, and player sales barely covered our financial liabilities. How come no one asks why we were si poorly run before we were very nearly made bankrupt?

Are you new here? We’re still discussing the failings of Richardson and McGinnity decades later. Hell some even go back further!

 

[ovduk78]

I was always against SISU taking CCFC over. I thought it was good for Richardson but awful for the club. If a Mike Ashley had taken over then and written off some debt we’d have recovered much faster. I really blame Richardson for this mess

Bryan Richardson left in 2002. I thought McGinnity was chairman at the time & Geoffrey Robinson was also involved in some capacity. Someone with a better memory than me will know better.

 

[shmmeee]

I was always against SISU taking CCFC over. I thought it was good for Richardson but awful for the club. If a Mike Ashley had taken over then and written off some debt we’d have recovered much faster. I really blame Richardson for this mess

See

 

[Evo1883]

Mike ashley will be a better owner than sisu , we will be a more successful football club under Ashley than we Ever have been under sisu ..


Fuck sisu , I travelled thousands of miles watching some of the worst football in our history all because they are wankers .. and as stated by somebody here , Mark robins and viveash are responsible for anything good , not them fuckwits

 

[fatso]

There’s no helping you. No one made them break the lease and move the club.

Have you even read my other posts???
I've called them out numerous times for their fuck ups. Please at least try and keep up.

 

[Brighton Sky Blue]

I agree that Ashley is as good as we could possibly wish for, but he didn't want to know us 15 years ago, and nor did anyone else!
And this myth that Sisu is creaming money out of the club is rediculous, we've cost them a fortune over the years, we were hemorrhaging money for years, and player sales barely covered our financial liabilities. How come no one asks why we were si poorly run before we were very nearly made bankrupt?

Of course he didn't. He was busy necking pints in the away end at Arsenal and taking on the Geordies' 'messiah' with Dennis Wise. Now it seems like he wants a long term project before going into retirement.

It's not a myth that SISU took money out of the club in League 1, look in the accounts. We were poorly run before they were arrived, and they have managed to run us even worse. Two exiles outside the city, relegation to the bottom tier, toxic relations with the fans, the stadium surrendered to a rugby club, two brilliant home grown talents lost early on because we were in the third tier etc.

Maddison himself went for an insultingly low initial fee because we were desperate for cashflow-sound familiar? We all remember Paul Fletcher, Mike McGinnity and Richardson and how they got us to late 2007. But we also remember the madness that followed and make them look more Neil Godwin than David Boddy Brent.

 

[HuckerbyDublinWhelan]

Are you new here? We’re still discussing the failings of Richardson and McGinnity decades later. Hell some even go back further!

They’re the biggest cunts in this mess to be honest, but only SISU currently can drag us out of it or sell us to someone who can

 

[Evo1883]

Let's be clear , under sisu this club has been a massive laughing stock of English football many times

 

[shmmeee]

Have you even read my other posts???
I've called them out numerous times for their fuck ups. Please at least try and keep up.

You just compared us going to Northampton to a Bahamian holiday.

 

[duffer]

You have misunderstood me. No one has actually made a rational accusation other than “they spoke to people who aren’t Sisu “. My point all along is Sisu have never done themselves any favours and in many cases shot themselves into the foot then blamed everyone but themselves.

There is a rational accusation, we're just not sure if it's a true one. The suggestion, absolutely unproven, is that the council may have given Ashley the inside track on the administration of Wasps/ACL by tipping him off early.

My question is, if it is true, is it an acceptable way for the council to behave?

 

[Evo1883]

We were selling club merchandise off a pasting table behind singers corner under sisu

 

[fatso]

You just compared us going to Northampton to a Bahamian holiday.

No, I was just correcting your ridiculous analogy.

 

[Nick]

So what day is something likely to happen?

Is Ashley funding ACL at the moment?

 

[fatso]

There is a rational accusation, we're just not sure if it's a true one. The suggestion, absolutely unproven, is that the council may have given Ashley the inside track on the administration of Wasps/ACL by tipping him off early.

My question is, if it is true, is it an acceptable way for the council to behave?

Has our council behaved correctly through any of this debacle?

 

[Evo1883]

So what day is something likely to happen?

Is Ashley funding ACL at the moment?

Good question

 

[shmmeee]

There is a rational accusation, we're just not sure if it's a true one. The suggestion, absolutely unproven, is that the council may have given Ashley the inside track on the administration of Wasps/ACL by tipping him off early.

My question is, if it is true, is it an acceptable way for the council to behave?

Sisu have literally been waiting 8 years on the assumption Wasps would go bust. They could have followed the Wasps thread on here for the last few. It was no big secret.

If they needed 8 weeks head start after that then I don’t know what to say.

And to answer your question directly: yes if the council sees someone with the ability to finally make the arena successful while at the same time bringing other investment to the area then that’s their job.

 

[shmmeee]

So what day is something likely to happen?

Is Ashley funding ACL at the moment?

Didn’t we decide next Tuesday? That’s what I’m waiting for.

 

[Nick]

Sisu have literally been waiting 8 years on the assumption Wasps would go bust. They could have followed the Wasps thread on here for the last few. It was no big secret.

If they needed 8 weeks head start after that then I don’t know what to say.

And to answer your question directly: yes if the council sees someone with the ability to finally make the arena successful while at the same time bringing other investment to the area then that’s their job.

You keep going from nothing to do with them to they are doing something positive?

 

[shmmeee]

You keep going from nothing to do with them to they are doing something positive?

I don’t know what the accusation even is!

The facts are the NEC and Ashley could likely put a proposal forwards that meets the councils aims for the arena and Sisu could or would not.

 

[shmmeee]

No, I was just correcting your ridiculous analogy.

By comparing Northampton to a Bahamian holiday. Ludicrous.

 

[Brighton Sky Blue]

You keep going from nothing to do with them to they are doing something positive?

I could understand this line of argument more if we wanted SISU to bag the ground as well as the club more than we wanted Big Mike.

 

[shmmeee]

I could understand this line of argument more if we wanted SISU to bag the ground as well as the club more than we wanted Big Mike.

Id have been happy enough with the SaddleBrains plan, but did they actually tell anyone other than SBT posters?

 

[fatso]

By comparing Northampton to a Bahamian holiday. Ludicrous.

Shmmeee, your doing that thing again, you know, when your argument has been blown out the water, and you deliberately resort to trying to confuse things. Your sounding like a school child who's excuses have been called out.

 

[Brighton Sky Blue]

Id have been happy enough with the SaddleBrains plan, but did they actually tell anyone other than SBT posters?

I'd have had some reservations over that plan to be honest. Michael Byng was leaking details of it to enough people for it to have got to the Council/ACL administrators etc.

The deal as described reeked of what that idiot at Sunderland tried to do to raise cash after his initial gamble failed.

 

[shmmeee]

Shmmeee, your doing that thing again, you know, when your argument has been blown out the water, and you deliberately resort to trying to confuse things. Your sounding like a school child who's excuses have been called out.

Lets go back to brass tacks. Did we have to go to Northampton and should we thank Sisu for it?

 

[shmmeee]

I'd have had some reservations over that plan to be honest. Michael Byng was leaking details of it to enough people for it to have got to the Council/ACL administrators etc.

The deal as described reeked of what that idiot at Sunderland tried to do to raise cash after his initial gamble failed.

Yeah I remember my house purchase when I told my chatty mate what I wanted to bid and hoped the seller would hear it.

 

[Nick]

I could understand this line of argument more if we wanted SISU to bag the ground as well as the club more than we wanted Big Mike.

It isn't a line of argument? ..

 

[duffer]

Sisu have literally been waiting 8 years on the assumption Wasps would go bust. They could have followed the Wasps thread on here for the last few. It was no big secret.

If they needed 8 weeks head start after that then I don’t know what to say.

And to answer your question directly: yes if the council sees someone with the ability to finally make the arena successful while at the same time bringing other investment to the area then that’s their job.

So it's ok for the council to act completely unethically, as long as they're doing it for what they think are the right reasons, in your opinion at least.

That's where you and I differ, and it's obvious that the the last time they did this - when selling in secret to Wasps and stating almost exactly the justification that you've just given, it's turned out to be a load of bollocks. So not only unethical, incompetent too.

Maybe you can understand why I have concerns now. Whether they're valid in this case neither of us knows, but the history of their competence and honesty is at least a matter of public record.

 

[Brighton Sky Blue]

It isn't a line of argument? ..

Well your angle all along has been that Reeves and the council have been conspiring against the club. Though you've seemed to drop the conspiracy that this all ends with Derek Richardson getting the ground back with the debt wiped.

If there is a big anti-CCFC conspiracy they would surely be working hard to get NEC to take it over instead of Ashley?

 

[fatso]

Lets go back to brass tacks. Did we have to go to Northampton and should we thank Sisu for it?

Of course we shouldn't have, that was purely down to Sisu's apaling behaviour.
I've said they made numerous fuck ups, and deliberately breaking their tenancy agreement was their biggest mistake. (Imo)

But you can't say that without them, we'd still be a going concern. No one else was willing to save us. We didn't choose Sisu, they were quite literally the only option we had. The fans who think they've used CCFC as some form of cash cow must have gone to the Liz Truss school of economics!

They've clearly taken us as far as they are going to, so if Mr Ashley can take us on and improve us, I'm more than willing to welcome him.

 

[The Philosopher]

Bryan Richardson left in 2002. I thought McGinnity was chairman at the time & Geoffrey Robinson was also involved in some capacity. Someone with a better memory than me will know better.

IIRC CCFC were in £30+ million of debt, £7m to bank and HMRC etc.

Geoffrey Robinson family was owed £20m (?) by CCFC. How much of this was “real” (cash rather than unpaid interest or commissions on previous player profits) I don’t know.

Former Coventry City chairman says Sisu have "let down" club

Coventry's three MPs have all added their voices to the calls for CCFC's owners to put the club up for sale

www.coventrytelegraph.net

SISU came in and injected the £7m to get rid of the immediate bank debt and then did the whole share swap thing. I think there was some deal that upon promotion Geoffrey Robinson would get £25m.

The admin situation a few years later detached GR from ever getting any chance of any money back.

I think.

I think he was a little miffed at the time.

 

[shmmeee]

So it's ok for the council to act completely unethically, as long as they're doing it for what they think are the right reasons, in your opinion at least.

That's where you and I differ, and it's obvious that the the last time they did this - when selling in secret to Wasps and stating almost exactly the justification that you've just given, it's turned out to be a load of bollocks. So not only unethical, incompetent too.

Maybe you can understand why I have concerns now. Whether they're valid in this case neither of us knows, but the history of their competence and honesty is at least a matter of public record.

Do you think businesses are happy for people to broadcast discussions with them?

In both cases the council had a problem and an acceptable solution presented itself. In Wasps case a use for the bowl and promised investment, in Ashley’s also investment into the city. Despite our protestations that CCFC have a good given right to be handed the arena for free, that’s not actually the case.

 

[Travs]

Sisu have literally been waiting 8 years on the assumption Wasps would go bust. They could have followed the Wasps thread on here for the last few. It was no big secret.

If they needed 8 weeks head start after that then I don’t know what to say.

And to answer your question directly: yes if the council sees someone with the ability to finally make the arena successful while at the same time bringing other investment to the area then that’s their job.

Someone like Wasps then?