Wasps going into admin & the impact on CCFC (129 Viewers)

[Nick]

 

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[Gynnsthetonic]

Constant boring talk going on and on about Reeves this, Duggins that Jesus !! Bottom line.
Do you want “big” Mike to be successful in acquiring the stadium ?

Let's wait until Thursday

 

[Nick]

Do you want “big” Mike to be successful in acquiring the stadium ?

It's impossible to say as we know absolutely nothing about it, the deal, what's involved etc.

It's like you don't want people discussing the council shadiness by saying "who cares" to everything.

 

[jordan210]

Someone on the bond forum saying the offer is 15.8 million. 45p in the pound for bond holders.

Not sure that would be correct as other creditors will want their share.

Not sure if that’s Ashley’s offer or something unrelated

 

[Nick]

Someone on the bond forum saying the offer is 15.8 million. 45p in the pound for bond holders.

Not sure that would be correct as other creditors will want their share.

Not sure if that’s Ashley’s offer or something unrelated

Offer to the bondholders or to buy ACL?

 

[SkyblueDad]

It's impossible to say as we know absolutely nothing about it, the deal, what's involved etc.

Yes or no, no time to sit on the fence mate.

 

[Nick]

Yes or no, no time to sit on the fence mate.

Pretty sure the decision isn't down to me and if it was I'd be given more information.

Do you work for the council decision making department by any chance?

We know absolutely fuck all about the deal as it stands and what it means for the stadium and CCFC. We do know their council have their beaks involved which takes away confidence in how good it is going to be for the club.

 

[jordan210]

Offer to the bondholders or to buy ACL?

Doesn’t say. Can’t see it being an offer for just bond holders. No one else has mentioned it yet. So guess we will wait and see

 

[Nick]

Doesn’t say. Can’t see it being an offer for just bond holders. No one else has mentioned it yet. So guess we will wait and see

Just didn't know if it was the offer the bondholders were getting or one that's to the administrator to share out to everybody who is owed....

 

[Sky Blue Pete]

Wonder where that figures from.
The conflict of interest stuff is a red herring in that I’d expect people to have mutual interests in his role and actually it’s really useful when people understand different perspectives of complex deals

However it should be transparent and declared so that people can make their own minds up.

If there’s nothing to see then just say yes of course i discussed what was going to happen with Derek Richardson and other interested parties. The thing is we know it’s not all above board because he’s not spoken to joy or vice versa for a decade and is buddies with other parties

 

[SkyblueDad]

Was one of the other interested parties Mike Ashley ?

 

[Nick]

The conflict of interest stuff is a red herring in that I’d expect people to have mutual interests in his role and actually it’s really useful when people understand different perspectives of complex deals

It's not really a red herring because he has been involved personally with all of the shit that has happened with the stadium since 2010.

 

[hill83]

Slowpoke isn’t interested m8

 

[The Philosopher]

Slowpoke isn’t interested m8

Genuinely funny.

 

[skybluetony176]

Court case is the 17th, don’t know when the out come will be known

So it will be Thursday 17th then, maybe as late as Friday. But definitely not Wednesday 16th.

 

[fernandopartridge]

Just a repeated of his tweets basically. Council say council didn’t consider it, Reeves did. CWR find it ridiculous Reeves could do it without Duggins knowledge. They’ve asked Reeves for an interview.

I am not one to stick up for the council but realistically how could a CEO carry out his role effectively if he needed prior permission from the leader of the council in relation to any conversation? I think Gilbert is being a bit obtuse on this.

 

[better days]

Cat properly among the pigeons at CCC now

 

[fernandopartridge]

Someone on the bond forum saying the offer is 15.8 million. 45p in the pound for bond holders.

Not sure that would be correct as other creditors will want their share.

Not sure if that’s Ashley’s offer or something unrelated

The trustees take primacy over all other creditors so it could be right.

 

[Sky Blue Pete]

It's not really a red herring because he has been involved personally with all of the shit that has happened with the stadium since 2010.

The red herring is that people don’t have conflicts of interests. They do. And often that makes for better decisions. Maybe I don’t mean red herring I mean it’s not the silver bullet with which to hang him on
It’s where he’s used the conflicts to preference certain organisations at the expense of others
Especially when he and ccc are saying no detriment to ccfc and crfc and that any process and is fair and consistent

Does that make sense?

Thats not even getting on to why wouldn’t the council want to support a successful football club with investment and support. We know why of course

 

[SkyblueDad]

The trustees take primacy over all other creditors so it could be right.

Including HMRC ?

 

[The Philosopher]

Including HMRC ?

Normally if it’s a secured asset, but this case seems to be defying normalcy.

 

[tisza]

Doesn’t say. Can’t see it being an offer for just bond holders. No one else has mentioned it yet. So guess we will wait and see

HMRC should be paid in full then the rest shared out. Pisses me off that taxpayers ultimately end up paying the price in these administrations where HMRC are owed money. And how the hell the football creditors rule bs is allowed to carry on is another grievance as well.

 

[HuckerbyDublinWhelan]

Even @Grendel mate the alleged Chris west is calling for resignations.

 

[The Philosopher]

HMRC should be paid in full then the rest shared out. Pisses me off that taxpayers ultimately end up paying the price in these administrations where HMRC are owed money. And how the hell the football creditors rule bs is allowed to carry on is another grievance as well.

And the Council even thinking about £30m more of taxpayer money to cover Wasp failure. Scandalous.

 

[Nick]

Even @Grendel mate the alleged Chris west is calling for resignations.

Christ.

 

[Gynnsthetonic]

Cat properly among the pigeons at CCC now

In the comments some people normally extremely pro council are calling for Duggins and Reeves to resign

 

[chiefdave]

I am not one to stick up for the council but realistically how could a CEO carry out his role effectively if he needed prior permission from the leader of the council in relation to any conversation? I think Gilbert is being a bit obtuse on this.

Nobody is saying the leader of the council has to get permission for any conversation. But do you not think with something that would clearly be hugely controversial and involve such a large amount of money it maybe would have at least been mentioned?

If Duggins and the council knew nothing about it why did he tell Ridley to arrange a meeting with Reeves at the council meeting after the news of the Friday meeting that never happened was leaked?

For me there's two options, either they are in it up to their necks an we're I'm resignation territory or Reeves is incompetent to an even greater level than previously suspected which again is resignation territory.

 

[Gynnsthetonic]

Even @Grendel mate the alleged Chris west is calling for resignations.

Just quoted the same, a turn up for the books

 

[chiefdave]

Even @Grendel mate the alleged Chris west is calling for resignations.

I had to check this wasn't a wind up, it isn't. You know things are bad when people like that are calling for resignations.

 

[better days]

In the comments some people normally extremely pro council are calling for Duggins and Reeves to resign

The positive thing in all this is that CCFC and the fans are now being universally seen as the victims of a shady stitch up by people who were at least as dodgy as SISU

 

[Theonlywayisskyblue]

I am not one to stick up for the council but realistically how could a CEO carry out his role effectively if he needed prior permission from the leader of the council in relation to any conversation? I think Gilbert is being a bit obtuse on this.

You're in fantasy land. I've worked in Councils and the Councilors and Leaders are obsessed by reputations, bad publicity and the next election. They smell a fiasco and a bad story even when it's not there. To imagine that this could be done as such a sensitive issue without any reference to the Leader is absolute nuts. Whether you agree, disagree or don't care about that is another issue - cue slowpoke

 

[Nick]

Duggins said:

"Any discussions about bailouts SUGGESTED would be shared with the group"

Do we really think after all of the court cases and the shite like that they would have been silly to hide it from the actual elected politicians?

 

[Earlsdon_Skyblue1]

Even @Grendel mate the alleged Chris west is calling for resignations.

I'm sure he is sitting very nicely after his half a million pound redundancy package. The council is a sham operation.

 

[fernandopartridge]

Nobody is saying the leader of the council has to get permission for any conversation. But do you not think with something that would clearly be hugely controversial and involve such a large amount of money it maybe would have at least been mentioned?

If Duggins and the council knew nothing about it why did he tell Ridley to arrange a meeting with Reeves at the council meeting after the news of the Friday meeting that never happened was leaked?

For me there's two options, either they are in it up to their necks an we're I'm resignation territory or Reeves is incompetent to an even greater level than previously suspected which again is resignation territory.

I was talking about the CEO seeking permission from the leader of the council not the other way around.

 

[SkyblueDad]

Court case is the 17th, don’t know when the out come will be known

Oops date wrong, surely a hanging offence.