The Bastards Owed Us £465K (12 Viewers)

[shmmeee]

They are not common at all.

CCFC "debt" is internal debt so as a going concern there is zero issue. Same for most clubs. The internal debt for Wasps is £16m - sports clubs are no different to anyone else - they can't not pay external creditors just as they are sports clubs. They have the same legal recourse as anyone else.

Its inconceivable to me that the Directors were not aware for months that they were trading insolvently. HMRC pulled the plug as it was clear that they were going to not get paid. I hope the directors are challenged as this seems to be a clear breach of director responsibility. The fact Reeves was even trying to get funding to support this is laughable. I can't fathom how they had cash to carry on - well I guess they just stopped paying everybody. Then they strung a series of lies to keep the bond payment at bay and also not to refloat.

Absolute disaster

Ashley also will I suspect blow stupid Anne Lucas and the unencumbered freehold drivel out the water very soon

CCFC were wound up because of external debt to ACL.

Leicester went into admin owing £74m including millions to the tax man: Leicester debts mount

Derby owed millions to charities: Derby County Community Trust owed £130,000 after club went into administration

Wigan owed millions to HMRC: Are Wigan Athletic really £45m in debt?

Those are just off the top of my head. Are you really claiming this is unusual in sports team administrations?

 

---

[Grendel]

CCFC were wound up because of external debt to ACL.

Leicester went into admin owing £74m including millions to the tax man: Leicester debts mount

Derby owed millions to charities: Derby County Community Trust owed £130,000 after club went into administration

Wigan owed millions to HMRC: Are Wigan Athletic really £45m in debt?

Those are just off the top of my head. Are you really claiming this is unusual in sports team administrations?

It’s massively unusual.

Ccfc as you well know had a tactical strategy

Even the links admit Wigan is misleading and Derby internal debt

I assume the Leicester one is 20 years old?

 

[shmmeee]

It’s massively unusual.

Ccfc as you well know had a tactical strategy

Even the links admit Wigan is misleading and Derby internal debt

I assume the Leicester one is 20 years old?

The links don’t say that actually, the debts I mentioned aren’t part of the internal or “misleading” debt. Jesus I’m not even defending Wasps I’m just saying it happens a lot in sport that companies rack up unsustainable debt and something should be done.

 

[Evo1883]

The £21m is £7m to HMRC and £14m in Sport England Covid loans. It’s not council funds. Council were owed £230k business rates and another £40k or so.

Didn't know , thanks for clarifying

 

[Grendel]

The links don’t say that actually, the debts I mentioned aren’t part of the internal or “misleading” debt. Jesus I’m not even defending Wasps I’m just saying it happens a lot in sport that companies rack up unsustainable debt and something should be done.

They are - the Wigan debt is described as misleading - its internal debt - ccfc deliberately refused to pay ACL and the Derby charity is part of the same company

These are headline figures meant to grab a headline. The real issue is they took £35 million off personal investors and can’t pay it back

It’s the first public floated retail bond in uk history to fail. By definition that’s unusual

 

[shmmeee]

They are - the Wigan debt is described as misleading - its internal debt - ccfc deliberately refused to pay ACL and the Derby charity is part of the same company

These are headline figures meant to grab a headline. The real issue is they took £35 million off personal investors and can’t pay it back

It’s the first public floated retail bond in uk history to fail. By definition that’s unusual

They go through each debt and their claim for HMRC is “oh we only need to pay them a quarter so that’s OK”. And only part of the Derby debt is to that charity. Other bits are to St John’s Ambulance and the like.

The bond is shifty, 100% though didn’t someone on here say they’ll end up with most of it back between existing interest payments and Ashley’s cash?

Honestly I’m leaving it here cos I don’t give that much of a shit.

 

[torchomatic]

Twats still bleating, "it was Covid ".

 

[Nick]

IT WOZ SISU.

 

[chiefdave]

Twats still bleating, "it was Covid ".View attachment 27675

Fucking hell, I really hope that's someone taking the piss and winding them up. If not they need help.

 

[Nick]

Fucking hell, I really hope that's someone taking the piss and winding them up. If not they need help.

Sadly not.

They still can't see the irony that they have had "SISU R BADDIES" drummed into them since they moved here while Wasps have been getting everything on tick and not paying anybody and ripping off people to the tune of millions.

"BUT SISU DISTRESSED THE COUNCIL"

Yes mate, how many businesses are distressed because Wasps had work done and didn't pay?

They still think Richardson is a fucking hero, although a few are starting to see.

 

[Nuskyblue]

Coventry council made it feel like the football club were a problem .

Now who at the council is going to pay for the lost 21 million ? Arseholes , worst council in England surely

I think the scouse council had to be stopped due to eye watering corruption. Westminster had to step in. That may have been to get a slice of the action tho

This is what I've heard from our customers up that way and may not be factually correct. If it is it shows how little this sort of thing is heard of out of the local area which is probably another issue altogether.

Could all be a load of big hairy bollox tho

 

[Sbarcher]

I think the scouse council had to be stopped due to eye watering corruption. Westminster had to step in. That may have been to get a slice of the action tho

This is what I've heard from our customers up that way and may not be factually correct. If it is it shows how little this sort of thing is heard of out of the local area which is probably another issue altogether.

Could all be a load of big hairy bollox tho

It can get out of hand........

'Ingrained culture of failure' laid bare in final report over collapse of Northamptonshire's County Council

Commissioners brought in to resolve financial crisis do not hold back in their criticism of previous leadership...while praising those who took their place

www.northamptonchron.co.uk

 

[letsallsingtogether]

And Ashley got it all wiped for 17m.....

Thing is doesnt matter who brought it and for how much, the debt disspears!

The debters live another day to do it all again.

 

[Terry Gibson's perm]

Twats still bleating, "it was Covid ".View attachment 27675

So sisu distressed the council so wasps got the stadium cheaper, how was that a problem for wasps they got it even cheaper.

The problem was they were run by a bunch of idiots like that Vaughan who just seemed to spend and spend what turned out to be other peoples money.

Covid distressed the business but they took loads of loans to cover it.

Tricks like let’s rebrand and put up loads of new signage at great cost to show we are boss is great but at some point you are supposed to pay the bill.

 

[jordan210]

Twats still bleating, "it was Covid ".View attachment 27675

Also There hatred for Gilbert is hilarious

 

[shmmeee]

Who do I bill around here for a broken irony meter?

 

[HuckerbyDublinWhelan]

Sadly not.

They still can't see the irony that they have had "SISU R BADDIES" drummed into them since they moved here while Wasps have been getting everything on tick and not paying anybody and ripping off people to the tune of millions.

"BUT SISU DISTRESSED THE COUNCIL"

Yes mate, how many businesses are distressed because Wasps had work done and didn't pay?

They still think Richardson is a fucking hero, although a few are starting to see.

Absolutely love this line of thought…

1) SISU distress Council
2) Wasps buy Arena at knock down price
3) Wasps 95m in debt

ergo - it’s SISUs fault they’re in debt