Wasps going into admin & the impact on CCFC (226 Viewers)

[shepardo01]

Was it the Blackburn game where admin was announced mid match??......
CCC were knee deep in talks with NEC group at that point......

 

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[Sky Blue Pete]

So the line seems to be Reeves has been off having chats with anyone and everyone, including Hottinger. But none of those went anywhere beyond an initial conversation and there was no figure put on match funding but even so it would not have been approved as council were clear on no bail outs.

You can’t honestly expect every single bid to be made public at early stages, that’s not how you attract bids at all. People won’t want all the details coming out until they have to. That’s what he was saying about no legal reason but a business reason.

What I took from that is the only serious offers that materialised were the ones we heard about. And that Sisu were offered a chance to bid and didn’t want to. Which we know because they wanted it to go to admin.

So again, I’m not sure what you wanted to be done differently. Are Reeves and Duggins slippery cunts? Sure. Same as Ridley and Gilbert are trying desperately to turn this into Watergate for their own reasons.

But in practical terms, unless either Sisu were stopped from bidding (and surely we’d have heard if that was the case) or there were other offers that were stopped (no hint of that either), then the admin/Wasps/ACL whoever can only accept what’s on the table and I don’t see how the club has been fucked over. The club wanted the arena to stay open until the break, it did. The club were offered the chance to bid, they didn’t.

If I were Sisu I’d have put together a proper proposal that outlines how they’d develop the arena, and make it public the second Wasps were in trouble. I can’t see past that again they’ve gambled on being the only show in town and again they’ve lost.

The different thing for me and I don’t know it’s reality is that allegedly there was some chance of outside investment cos there’s no way they have the funding to put an 8 figure bid in

 

[shmmeee]

The different thing for me and I don’t know it’s reality is that allegedly there was some chance of outside investment cos there’s no way they have the funding to put an 8 figure bid in

For Sisu? There must have been. But they didn’t make a bid. Apparently they put all the effort of sending a letter in 2022. No doubt got Byng to fax it over too.

The only thing I’d accept is if there was proof Sisu or Dawkins or whoever wanted club and arena together tried to bid and was in some way blocked. But no one is suggesting that.

 

[Nick]

Did it? Because Reeves says it didn’t and it would never have gone anywhere with it as he was told no bail outs with taxpayer money.

We’re talking about a three page document here let’s remember. This is the CRFC email all over again. Someone suggests something stupid, it goes nowhere, everyone acts like it was about to happen.

Ah reeves said it didn't.

"They aren't involved"
"It didn't happen"

Yes we know it didn't happen, the issue is the proposal and then lying about it.

Gilbert must have edited the interview.

 

[Sky Blue Pete]

For Sisu? There must have been. But they didn’t make a bid. Apparently they put all the effort of sending a letter in 2022. No doubt got Byng to fax it over too.

The only thing I’d accept is if there was proof Sisu or Dawkins or whoever wanted club and arena together tried to bid and was in some way blocked. But no one is suggesting that.

Think it was clear we were only interested in acl in admin. What do I know though eh? The thought of reeves working closely with supporting the purchase of the lease to the ground and including wasps is mad just mad

 

[Deleted member 5849]

Think it was clear we were only interested in acl in admin.

It all suggests they didn't / don't have the money tbh. They know how these things work, they've done it plenty of times themselves before! So they knew that waiting for admin risked what we currently have.

 

[Nick]

For Sisu? There must have been. But they didn’t make a bid. Apparently they put all the effort of sending a letter in 2022. No doubt got Byng to fax it over too.

The only thing I’d accept is if there was proof Sisu or Dawkins or whoever wanted club and arena together tried to bid and was in some way blocked. But no one is suggesting that.

Again, how do you know who put in a bid?

One minute its a conspiracy when people suggest things, then the goal posts move when it turns out to be true.

 

[Grendel]

Did it? Because Reeves says it didn’t and it would never have gone anywhere with it as he was told no bail outs with taxpayer money.

We’re talking about a three page document here let’s remember. This is the CRFC email all over again. Someone suggests something stupid, it goes nowhere, everyone acts like it was about to happen.

Hottinger were key funding Advisors to moonstone and wasps holdings so it’s not a random bid from nothing

 

[shmmeee]

Again, how do you know who put in a bid?

One minute its a conspiracy when people suggest things, then the goal posts move when it turns out to be true.

I know because if they had they’d have mentioned it and oldfiver wouldnt be on here giving it the Byng excuses about how they tried really hard to talk to people they were seeing every day but just couldn’t

 

[shmmeee]

Hottinger were key funding Advisors to moonstone and wasps holdings so it’s not a random bid from nothing

And? It didn’t go anywhere. So why does it matter?

 

[Brighton Sky Blue]

For Sisu? There must have been. But they didn’t make a bid. Apparently they put all the effort of sending a letter in 2022. No doubt got Byng to fax it over too.

The only thing I’d accept is if there was proof Sisu or Dawkins or whoever wanted club and arena together tried to bid and was in some way blocked. But no one is suggesting that.

They only wanted it basically unencumbered. They could raise enough capital to take on the stadium minus debt, but not with it tacked on.

However the Council were clearly very desperate for Wasps not to fail and for their pet project to go under. Working with Mike Ashley because he's loaded and has pledged local investment is one thing-entertaining an 8 figure bail out of a failed rugby club is quite another. It should never even have been considered.

 

[Grendel]

And? It didn’t go anywhere. So why does it matter?

It didn’t go anyway because the recently re-appointed Director Derek Richardson decided to block it

 

[Nick]

I know because if they had they’d have mentioned it and oldfiver wouldnt be on here giving it the Byng excuses about how they tried really hard to talk to people they were seeing every day but just couldn’t

Like I said, I'm sure when the sale goes through then people will speak. I'm not referring to sisu in that but they probably will too.

 

[shmmeee]

Like I said, I'm sure when the sale goes through then people will speak. I'm not referring to sisu in that but they probably will too.

Who are you referring to? You’re as bad as Reeves. Spit it out.

 

[Nick]

And? It didn’t go anywhere. So why does it matter?

Last week it was all conspiracy.

Now it's "it didn't happen so meh"

 

[shmmeee]

It didn’t go anyway because the recently re-appointed Director Derek Richardson decided to block it

And because there was a clear line that the council wouldn’t provide funding.

 

[joemercersaces]

The bottom line is that Gilbert suggested there was to be a meeting of the Labour group to discuss a possible bail out of Wasps. Cue outrage. Cue backtracking and Duggins unequivocably stating to Nick and Gilbert no such discussion was in the pipeline.
All went quiet. Then The Times disclosed there had in fact been a Wasps Board vote on a proposal for the City Council to match fund a bailout to the tune of £30 million of citizens’ money. So now, found out, Reeves is desperately searching for a form of words to wriggle out of the fact that discussions did take place and subsequent denials were lies. Otherwise what exactly were the Wasps Board voting on? Apparently had Richardson agreed it would have gone ahead.
Have stayed out of this waiting to see what happens but the way Reeves only talks about the club as tenants makes me conclude the Council are about to shaft the club again.

 

[Nick]

Who are you referring to? You’re as bad as Reeves. Spit it out.

Ha the irony.

 

[shmmeee]

Last week it was all conspiracy.

Now it's "it didn't happen so meh"

No the conspiracy was that CCC “fucked the club over” somehow. You’re yet to explain how they did. You’ve latched onto slipperly politcians word games but that’s it. Still waiting to hear how the club have been fucked over.

 

[Nick]

And because there was a clear line that the council wouldn’t provide funding.

Funny that, reeves was positive about it. The CEO.

 

[Nick]

No the conspiracy was that CCC “fucked the club over” somehow. You’re yet to explain how they did. You’ve latched onto slipperly politcians word games but that’s it. Still waiting to hear how the club have been fucked over.

Wait and see what happens. Like all the other things you have claimed as "conspiracy".

 

[shmmeee]

The bottom line is that Gilbert suggested there was to be a meeting of the Labour group to discuss a possible bail out of Wasps. Cue outrage. Cue backtracking and Duggins unequivocably stating to Nick and Gilbert no such discussion was in the pipeline.
All went quiet. Then The Times disclosed there had in fact been a Wasps Board vote on a proposal for the City Council to match fund a bailout to the tune of £30 million of citizens’ money. So now, found out, Reeves is desperately searching for a form of words to wriggle out of the fact that discussions did take place and subsequent denials were lies. Otherwise what exactly were the Wasps Board voting on? Apparently had Richardson agreed it would have gone ahead.
Have stayed out of this waiting to see what happens but the way Reeves only talks about the club as tenants makes me conclude the Council are about to shaft the club again.

It wouldn’t have gone ahead. It would have gone to council and been rejected. As every councillor has made clear.

 

[Grendel]

And because there was a clear line that the council wouldn’t provide funding.

No it’s purely not gone past first base as Richardson blocked the bid which would I assume have secured bond holder funding. We know that the Ashley bid does not but will more than likely be more favourable for Richardson

 

[shmmeee]

Wait and see what happens. Like all the other things you have claimed as "conspiracy".

You don’t know do you?

This is the JR and it’s “smoking gun” all over again.

 

[Nick]

The bottom line is that Gilbert suggested there was to be a meeting of the Labour group to discuss a possible bail out of Wasps. Cue outrage. Cue backtracking and Duggins unequivocably stating to Nick and Gilbert no such discussion was in the pipeline.
All went quiet. Then The Times disclosed there had in fact been a Wasps Board vote on a proposal for the City Council to match fund a bailout to the tune of £30 million of citizens’ money. So now, found out, Reeves is desperately searching for a form of words to wriggle out of the fact that discussions did take place and subsequent denials were lies. Otherwise what exactly were the Wasps Board voting on? Apparently had Richardson agreed it would have gone ahead.
Have stayed out of this waiting to see what happens but the way Reeves only talks about the club as tenants makes me conclude the Council are about to shaft the club again.

Ccfc and wasps remember.

 

[shmmeee]

No it’s purely not gone past first base as Richardson blocked the bid which would I assume have secured bond holder funding. We know that the Ashley bid does not but will more than likely be more favourable for Richardson

Do you think the council can spend £30m with no democratic oversight?

 

[Nick]

You don’t know do you?

This is the JR and it’s “smoking gun” all over again.

I never claimed anything about the jr or smoking gun.

Just save your conspiracy posts to come back to. Same as when I said Hoffman and the trust were working with wasps which was conspiracy.

Same as everything else that's "conspiracy". It was last week me mentioning Richardson being involved was conspiracy too.

 

[Nick]

Do you think the council can spend £30m with no democratic oversight?

Didn't they just do that for Tom white?

 

[shmmeee]

I never claimed anything about the jr or smoking gun.

Just save your conspiracy posts to come back to. Same as when I said Hoffman and the trust were working with wasps which was conspiracy.

Maybe not you but several people spent years telling me as soon as it got to court “it would all come out and CCC were screwed” and lo and behold fuck all happened. Because it’s all driven by frothing and no actual accusations or facts just “grrrr council”

 

[Nick]

Maybe not you but several people spent years telling me as soon as it got to court “it would all come out and CCC were screwed” and lo and behold fuck all happened. Because it’s all driven by frothing and no actual accusations or facts just “grrrr council”

Yeah quote them to them then.

Oh and the jr didn't say ccc didn't fuck the club over, just that it didn't break any state aid laws.

 

[shmmeee]

Didn't they just do that for Tom white?

No

Coventry council approves 'eight-figure loan to waste company

The huge sum is likely to be more than the council paid to buy the business in 2020

www.coventrytelegraph.net

 

[Brighton Sky Blue]

Do you think the council can spend £30m with no democratic oversight?

Maybe not you but several people spent years telling me as soon as it got to court “it would all come out and CCC were screwed” and lo and behold fuck all happened. Because it’s all driven by frothing and no actual accusations or facts just “grrrr council”

I think to be honest the way they’ve bent over backwards to help and support Wasps while flipping off the football club for nearly a good 20 years is what eliminates any goodwill.

 

[shmmeee]

Grrr council

Indeed.

Meanwhile the actual people actually responsible for our club have failed again to make a serious attempt to buy the ground, and look likely to break up the best squad in decades to pay the tax bill while refusing to sell us.

 

[oldfiver]

Then Joy needs to come out and say that as he’s stated clearly on record that he did.

Are you claiming Sisu had a bid ready to go? Why didn’t they submit it to the administrator? Why were they writing letters asking for meetings and not picking up the phone? Boddy has repeatedly said he was in frequent contact with Reeves, why didn’t he just mention it?

Where have I claimed anything other that DB and JVS contacted him at the time of Admin?

 

[MAFF]

Indeed.

Meanwhile the actual people actually responsible for our club have failed again to make a serious attempt to buy the ground, and look likely to break up the best squad in decades to pay the tax bill while refusing to sell us.

It's not 2014 anymore. The "But Sisu" argument doesn't work. Everyone knows they're shit. Doesn't change the fact the City Council are fucking the club...again.