Wasps going into admin & the impact on CCFC (234 Viewers)

[ovduk78]

Moz Baker and CJ Joiner

I hope they are shamed by their actions, probably not though?!

 

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[shmmeee]

did they make that clear before or after the possibility of a bailout was leaked to the local media and there was a public outcry?

is the story now that Reeves was working up a deal that involved tens of millions in match funding, a deal that was at an advanced enough stage there was a vote by Wasps board, having had it made clear to him no money would be available?

Before. When this first came out look at the responses from the councillors. And Reeves said no match funding figure was mentioned in the proposal.

Has this been handled badly? Sure. Was there ever any remote possibility of the council bailing out Wasps? Not in a million years.

Meanwhile no one is asking why our owners have yet against wasted an opportunity to own the arena.

 

[GaryMabbuttsLeftKnee]

I am married and have a pretty supportive family and friendship circle, but I hope one day to find someone who supports and defends me like Shmmeeee defends the council


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[Sky Blue Pete]

Before. When this first came out look at the responses from the councillors. And Reeves said no match funding figure was mentioned in the proposal.

Has this been handled badly? Sure. Was there ever any remote possibility of the council bailing out Wasps? Not in a million years.

Meanwhile no one is asking why our owners have yet against wasted an opportunity to own the arena.

They are and the answer is one that you don’t accept

 

[Nick]

Do you think there wasn’t a council vote on this?

This is very very simple stuff mate. This stuff has to pass council.

Yes as I said, only Labour voted for it?

It's not madness to think that a bailout of Wasps might go through. It's only in hindsight now Ashley has appeared and Richardson said no that it's being distanced.

 

[Earlsdon_Skyblue1]

someone needs to take early retirement. Cold blooded Bloke who gets off on the old boys network.

Have you seen the packages those goons get?

Top Coventry council boss given £395,000 retirement package

It has been branded "difficult to justify"

www.coventrytelegraph.net

 

[Hiraeth]

You can get a bunch of Labour councillors on board with TWW with talk of the green economy. You can’t do that for a rugger club.

Grossly unfair on Wasps, their fans have been regularly recycling '...but Sisu' lines for 8 years now

 

[shmmeee]

Old fiver is attempting to answer that for you without spelling it out.

What are people bidding for? How much is something worth if you don’t know what you are allowed to purchase?

If the directors of the company going into admin are richardson and a n other who would ccfc sisu talk to to answr some of those questions ??

Well spell it out cos I’m not in the special crew that gets to have secret meetings ironically.

All I’m seeing is lots of excuses for not putting their money where their mouth is (or rather isn’t considering their public statements for the last 15 years that they don’t want to)

 

[shmmeee]

I am married and have a pretty supportive family and friendship circle, but I hope one day to find someone who supports and defends me like Shmmeeee defends the council


Sent from my iPhone using Tapatalk

Youre a slippery c**t too

 

[shmmeee]

Yes as I said, only Labour voted for it?

It's not madness to think that a bailout of Wasps might go through. It's only in hindsight now Ashley has appeared that it's being distanced.

Do you understand the concept of a majority?

 

[Brighton Sky Blue]

Well spell it out cos I’m not in the special crew that gets to have secret meetings ironically.

All I’m seeing is lots of excuses for not putting their money where their mouth is (or rather isn’t considering their public statements for the last 15 years that they don’t want to)

Can you not see how there is room for valid criticism of SISU's tenure and leading Council figures bending over to try to keep the Wasps project alive?

 

[Nick]

Before. When this first came out look at the responses from the councillors. And Reeves said no match funding figure was mentioned in the proposal.

Has this been handled badly? Sure. Was there ever any remote possibility of the council bailing out Wasps? Not in a million years.

Meanwhile no one is asking why our owners have yet against wasted an opportunity to own the arena.

Reeves also said there were no talks or discussions but then changed it to no formal application for funding.

His direct quote thought there was a chance.

 

[Deleted member 5849]

Can you not see how there is room for valid criticism of SISU's tenure and leading Council figures bending over to try to keep the Wasps project alive?

There is. I can see why shmmeee needs to redress the balance around here just atm mind you. It's a bit like when it was all SISU's fault we were going to Northampton, except in reverse.

 

[shmmeee]

Reeves also said there were no talks or discussions but then changed it to no formal application for funding.

His direct quote thought there was a chance.

I refer the honourable gentleman to my post a few days ago saying “then he’s a fucking idiot”.

 

[shmmeee]

There is. I can see why shmmeee needs to redress the balance around her ejust atm mind you. It's a bit like when it was all SISU's fault we were going to Northampton, except in reverse.

Plus I like a fight.

 

[chiefdave]

Before. When this first came out look at the responses from the councillors. And Reeves said no match funding figure was mentioned in the proposal.

Has this been handled badly? Sure. Was there ever any remote possibility of the council bailing out Wasps? Not in a million years.

Meanwhile no one is asking why our owners have yet against wasted an opportunity to own the arena.

Come on shmmeee, you're not this naive. Needs something more than 'but SISU' this time round.

 

[Brighton Sky Blue]

There is. I can see why shmmeee needs to redress the balance around here just atm mind you. It's a bit like when it was all SISU's fault we were going to Northampton, except in reverse.

I think there's been a whole heap of talk and speculation desperately hoping for Mike Ashley to want to take control of the club because of what will probably happen in the January transfer window if he doesn't. SISU get plenty of slating on here and they deserve all of it.

But today is when some pretty damning truths have emerged about how Reeves especially has conducted himself. So it makes sense that he's getting a lot of today's flak.

 

[Sky Blue Pete]

Well spell it out cos I’m not in the special crew that gets to have secret meetings ironically.

All I’m seeing is lots of excuses for not putting their money where their mouth is (or rather isn’t considering their public statements for the last 15 years that they don’t want to)

Can I spell it out any more???

Yih can’t bid for something that you don’t know it’s value and people won’t take your call to discuss. If Ashley has £2bn what does £20m matter? If ccfc need to find the money from their annual turnover to sort out the pitch every penny counts and ccfc will need ccc to work with sisu in securing the long term future of ccfc and they just aren’t willing to do that because of everything that’s happened

Sisu is not ccfc owners come and go and ccc should have seen that then and should see it now

Everythihg else is bollox as is sisu not loaning ccfc a few hundred thousand to pay for the pitch

 

[chiefdave]

I do like the idea we can't believe a word that Sepalla, Fisher, Boddy, Byng or anyone else that may or may not be connected to the football club says but anything Duggins or Reeves come out with can't be questioned.

 

[Deleted member 5849]

and people won’t take your call to discuss.

I hope SISU phoned the administrators who were queued up to manage the process. They were set to go before Ashley...

 

[Philosoraptor]

Shmmee hitting spin factor 9.9 here

 

[oldfiver]

Well spell it out cos I’m not in the special crew that gets to have secret meetings ironically.

All I’m seeing is lots of excuses for not putting their money where their mouth is (or rather isn’t considering their public statements for the last 15 years that they don’t want to)

If you had been told SISU had offered £16m for the Arena with no debt and the lease in place - what would your reaction have been 3 weeks ago?

 

[Deleted member 5849]

I think there's been a whole heap of talk and speculation desperately hoping for Mike Ashley to want to take control of the club because of what will probably happen in the January transfer window if he doesn't. SISU get plenty of slating on here and they deserve all of it.

But today is when some pretty damning truths have emerged about how Reeves especially has conducted himself. So it makes sense that he's getting a lot of today's flak.

Got no problem with Reeves getting some flack, he deserves it, any time and any day regardless of what he's done at that particular time. Some of the conclusions off that are odd however.

 

[shmmeee]

Can you not see how there is room for valid criticism of SISU's tenure and leading Council figures bending over to try to keep the Wasps project alive?

Not Wasps, the arena project.

Sisu are like those incel kids who refuse to wash or talk to girls then get angry at the popular boys who “don’t treat them right”. Do the fucking basics before whining others are doing better.

They’ve come in from day one without a clue how to handle a local authority or what their priorities are. Not once I’ve they put forward a vision anyone can buy into, not once have they been honest about their intentions. All they’ve done is try and get an asset on the cheap and throw mud at anyone who gets in their way.

Take the emotion of being a CCFC fan out of it and it’s fucking silly to ask “why does this local authority was two major sports teams in its locality?”. You know why they want Wasps it’s the same reasons we all wheeled out when CCFC were going to leave the area.

What the council cares about is regeneration, jobs, maybe some National and international recognition that makes investment easier to come by, and not having endless costly legal battles. Wasps turned up and offered that while Sisu offered fuck all but hostile press and vexatious lawsuits.

You can piss and moan that the council want that and not to make CCFC a champions league team or whatever but that’s the way of the world.

That’s why I focus on Sisu when it comes to CCFC. If we want to talk about the councils failings for the city of Coventry I could talk all day but this isn’t skyscrapercity or Twitter or whatever it’s SkyBluesTalk.

This is stunningly easy: if you want something, put the bare minimum amount of effort into getting it or STFU and cry into your beer.

 

[shmmeee]

If you had been told SISU had offered £16m for the Arena with no debt and the lease in place - what would your reaction have been 3 weeks ago?

Who did they make this offer to and was it in their gift to accept it?

 

[oldfiver]

I hope SISU phoned the administrators who were queued up to manage the process. They were set to go before Ashley...

Strictly speaking - ACL do not have appointed receivers

 

[HuckerbyDublinWhelan]

Even if they did that on "Admin day" we wouldn't be having a different conversation because CCC have been desperate to try to get deals through with other parties. On "admin day" they were knee deep already with NEC group and talking of them as preferred bidder and having a period of exclusivity....
Then Ashley's interest appeared...

Ashley’s interest was weeks ago, if a bid had been submitted by SISU that matches or exceeded Ashley’s - then we can say we’ve been screwed. Currently Ashley has the best deal for the creditors and the wider regeneration are

The council have schmoozed someone to make a bid but currently he has no competition

 

[oldfiver]

Who did they make this offer to and was it in their gift to accept it?

Read the question!

 

[Deleted member 5849]

Strictly speaking - ACL do not have appointed receivers

I didn't say they did in the post you quoted, mind you.

 

[Sky Blue Pete]

I hope SISU phoned the administrators who were queued up to manage the process. They were set to go before Ashley...

Tried but there’s a reason more detail hasn’t come out about this and I hope it’s because somehow somewhere something is happening to change what the current narrative is

 

[Deleted member 5849]

Ashley’s interest was weeks ago, if a bid had been submitted by SISU that matches or exceeded Ashley’s - then we can say we’ve been screwed. Currently Ashley has the best deal for the creditors and the wider regeneration are

The council have schmoozed someone to make a bid but currently he has no competition

I still wouldn't be entirely surprised if he pulled out, mind you!

 

[HuckerbyDublinWhelan]

I still wouldn't be entirely surprised if he pulled out, mind you!

I wouldn’t - I think if the bond holders cause issues then it won’t be worth the hassle.

if that happens then the ball is back in SISUs court

 

[shmmeee]

Read the question!

Answer the question!

This is Fucking frustrating. If Sisu offered the best bid for ACL and didn’t get it for underhand reasons then I’ll join you with the pitchforks at whoever did that. If they played silly buggers then no sympathy.

 

[Philosoraptor]

The bondholders are just under 800 quid to reach their target. Look's like they will have their own representation at this meeting of creditors after all.

Should put the cat amongst the pigeons for everyone.

 

[Deleted member 5849]

Tried

This does all seem a bit like they tried to buy the Higgs share when Wasps rocked up tbh. Personally, I'm not convinced 'tried' is entirely accurate, more 'want to look like they tried'. No doubt we'll find out after Thursday, but it doesn't read right from a SISU perspective either, while we're at it.