If wasps (7 Viewers)

[Cheshire Sky Blue]

Bought CCFC would we get behind this idea and support it ??? Two revenue streams from match day, plus everything else that comes with it including concerts . This could make coventry & wasps a shit load of ££££ with the FFP I think it's worth debating ??? Thoughts ???

It certainly wasn't what I would have hoped for, but after having considered your question for the last 4 hours as I drove home, Yes I would support it. We may not like the Hedge fund that owns Wasps buying our arena,but at least they were willing to invest. They see potential in the place. They were capable of being honorable in negotiations.

I was reflecting as to when or if Wasps bought CCFC would they be better or worse than SISU, That took me two nano seconds to answer, no one could match SISU for being the most atrocious owners in living memory of the whole of British sporting history.

With two teams 'Permanently' in residence the business would be certainly stronger than if just CCFC or Wasps were sole tenants. The value of both CCFC and the arena will increase exponentially if CCFC make progress in the league. The Value of Wasps is assured if they remain in the top division.

Could be a perfect January.........

 

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[Wheelfass]

Will our reserve strip be black and gold ?

What would it matter. There have been many different coloured 2nd kits over the years....... red and black, green and black, brown, yellow and purple. Not an issue. If we get bought up by Wasps then so be it. Not a problem.

 

[spider_ricoh]

Wish people would stop moaning about Wasps.

 

[Wheelfass]

Wish people would stop moaning about Wasps.

Ditto

 

[bigfatronssba]

I think some people are a bit judging of Wasps owners based on our experience of hedge funds.

In an ideal world I wouldn't have something like a hedge fund anywhere near a sports club. However, just because Sisu have been incompetent, that doesn't mean that Wasps owners would be. I am sure not all Hedge funds are alike.

Best example is the Coventry Building Society. Since the credit crunch bankers and the banking system have been seen as greedy and willing to put the economy at risk. Yet the Coventry ran itself exactly as it should, and never took serious risks, but most peoples opinions would still lump it in with all the other banks and building societies.

 

[Wheelfass]

Owned by organisation who have no understanding of heritage, history, identity and only keen on the bottom line, no matter what the cost.

I'm out.

Best you go then.

 

[wingy]

Will our reserve strip be black and gold ?

Strangely a previous incarnation ,not a bad one at the time .

 

[stupot07]

Wish people would stop moaning about Wasps.

wish people would stop moaning about people moaning about Wasps

 

[Neutral Fan]

Why would MGI Fiduciary Services (Malta) want to buy a loss making 3rd division football club with few assets?

They would only be interested if a small EPL team could be bought and franchised to their stadium in Coventry.

 

[Deleted member 5849]

Wasps are the only show in town now and this would probably be the one thing that would keep us in Coventry.

Relying on an organisation willing to move sportrs teams on a whim to... keep a sports team in one place, is a dangerous game to play.

The historical precedent says place is unimportant.

 

[skybluetony176]

Why would MGI Fiduciary Services (Malta) want to buy a loss making 3rd division football club with few assets?

They would only be interested if a small EPL team could be bought and franchised to their stadium in Coventry.

Who are MGI Fiduciary Services (Malta)? I only ask because I dont think you've mentioned them before.

 

[Ian1779]

Why would MGI Fiduciary Services (Malta) want to buy a loss making 3rd division football club with few assets?

They would only be interested if a small EPL team could be bought and franchised to their stadium in Coventry.

For the love of God......

 

[Noggin]

For people who are intent on destroying the club they are going a very expensive way of doing it!!

They aren't intent on destroying the club, they were intent on destroying acl to get the ricoh on the cheap and we willing to destroy (or at least irreparably damage ccfc in the process)

 

[Noggin]

Why would MGI Fiduciary Services (Malta) want to buy a loss making 3rd division football club with few assets?

They would only be interested if a small EPL team could be bought and franchised to their stadium in Coventry.

you are freaking nuts, you have to be on the windup, how many times do you have to have it explained to you that there is no a chance in hell that wasps will buy a EPL team and move them to Coventry, Zero! None! Not ever, its a ridiculous idea, I explained to you why the last twice I wasted my time replying to you.

 

[Noggin]

And why on earth does it have to be an either/or?

It's that type of rhetoric that ended up with SISU being pushed as the only game in town... when they weren't.

It doesn't of course, but in a situation where it was either or, why not say well it's not my preference to be taken over by wasps, I think there are much better options however it would definitely be a much better situation than we currently find ourselves in. Then you look like a reasonable person, thats a sensible viewpoint, being taken over by wasps gets us the stadium yay but in every other way is probably suboptimal, however it's a cast iron guarantee thats a much better situation than now.

 

[Gazolba]

Bought CCFC would we get behind this idea and support it ??? Two revenue streams from match day, plus everything else that comes with it including concerts . This could make coventry & wasps a shit load of ££££ with the FFP I think it's worth debating ??? Thoughts ???

Well if CCFC was put up for sale, there is nothing to stop Wasps bidding. But what would they be buying? Not many assets left and SISU will probably strip what little remains before selling or liquidating.

 

[martcov]

Well if CCFC was put up for sale, there is nothing to stop Wasps bidding. But what would they be buying? Not many assets left and SISU will probably strip what little remains before selling or liquidating.

They would be bidding for the only option to utilise their stadium bowl economicaly. Best chance of making the bowl Part of their investment work. SISU have literally nowhere to go. They will never be allowed to build a stadium in Coventry. Nearby won't work, they won't be able to compete with the facilities at the Ricoh for large events- maybe for streakers and other smaller things, but they won't get much revenue from them.
If I were Wasps, I would be working on a plan to bully SISU - by not extending the rental agreement when it ends, and at the same offering to buy a share or all of CCFC. I cannot see anyone else bidding for a soon to be homeless mediocre third division team. If the Wasps consortium had both teams the stadium would go up in value and ccfc would have security of tenure.

 

[Nick]

They would be bidding for the only option to utilise their stadium bowl economicaly. Best chance of making the bowl Part of their investment work. SISU have literally nowhere to go. They will never be allowed to build a stadium in Coventry. Nearby won't work, they won't be able to compete with the facilities at the Ricoh for large events- maybe for streakers and other smaller things, but they won't get much revenue from them.
If I were Wasps, I would be working on a plan to bully SISU - by not extending the rental agreement when it ends, and at the same offering to buy a share or all of CCFC. I cannot see anyone else bidding for a soon to be homeless mediocre third division team. If the Wasps consortium had both teams the stadium would go up in value and ccfc would have security of tenure.

So by not extending the rent in order to buy us would that not be a sisu kind of thing to do that everybody hates? Move clubs up the country and then distress the football club, but people will want them to own us?

 

[stupot07]

They would be bidding for the only option to utilise their stadium bowl economicaly. Best chance of making the bowl Part of their investment work. SISU have literally nowhere to go. They will never be allowed to build a stadium in Coventry. Nearby won't work, they won't be able to compete with the facilities at the Ricoh for large events- maybe for streakers and other smaller things, but they won't get much revenue from them.
If I were Wasps, I would be working on a plan to bully SISU - by not extending the rental agreement when it ends, and at the same offering to buy a share or all of CCFC. I cannot see anyone else bidding for a soon to be homeless mediocre third division team. If the Wasps consortium had both teams the stadium would go up in value and ccfc would have security of tenure.

Wouldn't sisu just move us back to Northampton again temporarily? But this time with a valid reason that they'd been kicked out by wasps?


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[martcov]

Wouldn't sisu just move us back to Northampton again temporarily? But this time with a valid reason that they'd been kicked out by wasps?


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Been there, done that. Would bring them nothing and they would lose even more.

 

[stupot07]

Been there, done that. Would bring them nothing and they would lose even more.

It's far more likely than them giving in and just handing over the keys. If wasps kicked us out, we would get a few more at Sixfields than last time, they'd just cut the wage bill further and we have another mexican stand off.

It would be a case of who needs who more. And kicking ccfc out for no real reason will harm wasps reputation and in lace in their crowds


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[martcov]

So by not extending the rent in order to buy us would that not be a sisu kind of thing to do that everybody hates? Move clubs up the country and then distress the football club, but people will want them to own us?

Yes, quite right, but this is their world. Standard business practice. SISU are not messing with a lumbering council tied up by laws and regulations and under public scrutiny. Wasps have more chance of doing a deal with SISU than the council as they can use the same weapons as SISU. I would take Wasps ownership if it got us security of tenure and a share of income and new investment. SISU's stadium is a non starter.

 

[martcov]

It's far more likely than them giving in and just handing over the keys. If wasps kicked us out, we would get a few more at Sixfields than last time, they'd just cut the wage bill further and we have another mexican stand off.


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at some time it's game over for the investors. How do you explain that having fucked up with the council, you hav nowe fucked up with new landlords and are starting again? Having, of course, promised a stadium which you can't deliver.

 

[Nick]

Yes, quite right, but this is their world. Standard business practice. SISU are not messing with a lumbering council tied up by laws and regulations and under public scrutiny. Wasps have more chance of doing a deal with SISU than the council as they can use the same weapons as SISU. I would take Wasps ownership if it got us security of tenure and a share of income and new investment. SISU's stadium is a non starter.

Ah the just business line

 

[martcov]

Ah the just business line

Not my line. Came from Tim I think.

 

[Terry Gibson's perm]

It's far more likely than them giving in and just handing over the keys. If wasps kicked us out, we would get a few more at Sixfields than last time, they'd just cut the wage bill further and we have another mexican stand off.

It would be a case of who needs who more. And kicking ccfc out for no real reason will harm wasps reputation and in lace in their crowds



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If Wasps kicked us out of the Ricoh I would be more likely to continue going than when the club made the choice to go, I don't see Wasps kicking us out as they need the money from the rent and the hope that some of our fans will filter across to watch them.

 

[stupot07]

If Wasps kicked us out of the Ricoh I would be more likely to continue going than when the club made the choice to go, I don't see Wasps kicking us out as they need the money from the rent and the hope that some of our fans will filter across to watch them.

Exactly. I'm the same. Didn't go to Sixfields last time, but if they kicked us out (and they won't) I would be far more inclined to go.


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[tisza]

people making several assumptions.
1. Northampton would take us back.
2. the football league would be as eager to agree to this again.

the 2+2 year rent deal has taken the pressure of SISU to find funds to finance a new stadium.

 

[Bill Glazier]

people making several assumptions.
1. Northampton would take us back.
2. the football league would be as eager to agree to this again.

the 2+2 year rent deal has taken the pressure of SISU to find funds to finance a new stadium.

Tisza, SISU will never build a new stadium. It's not in their DNA to construct anything; they're entirely parasitic.

 

[chiefdave]

I don't for a minute think that Wasps have moved here with the intention of buying us but there could be situations in which they would consider it and if the situation arouse I'd certainly be interested to hear what they had to say. Not sure I agree that we should blindly welcome them on the basis that things can't get any worse, that's a risk to me.

What we don't know is if they need us to be here permanently, they say their business plan doesn't depend on it but we don't know that is the whole truth. If they don't need us here and it's not financially advantageous for them to keep us here then there is no chance of them buying the club. However if they do need us here and they can get the club on a similar deal that SISU arrived on then it might be something they would consider. Of course then you have the question of how revenues get split between us and Wasps.

What about this scenario? SISU pack it in and write off the debt, Wasps pick the club up for nothing and inherit little to no debt, might need another round of administration for this to happen. With a minimal investment, even on our low crowds, it shouldn't be too hard to get back to the championship. They could then sell the club package with an ownership stake in ACL. Make a profit on the club and on whatever % of ACL they sell. Let's say they sold the club in the championship with a 49% stake in ACL, how much profit would they make on what they paid for that % of ACL, buying the club and investing in promotion. That could pretty quickly give them a decent ROI and still leave them with a controlling stake in ACL.

 

[block16]

If this was their intention they could have bought any football club that owns a stadium and stuck wasps in to ground share surely?

 

[Cheshire Sky Blue]

If this was their intention they could have bought any football club that owns a stadium and stuck wasps in to ground share surely?

Very possibly. I think that many are discussing what would be the optimal solution now, not what was the Strategy originally.

That said, if you think about it it the value of ccfc fell to pretty close to zero when SISU thrust it into administration. It would have rocketed in value if it were to be the owner of the RICOH. That will not happen anytime soon. So Wasps buying the arena has in effect has put the already distressed CCFC under further distress reducing its value even further. SISU caught out by there own game.

So now there is a football Club that will soon need new owners that is worth next to nothing as it stands. Might be a 'good buy' for a business that has a 30k seat stadium.

So that could be "its a 'good buy' for Wasps and its a 'good bye' for SISU"

 

[Covcraig@bury]

The more I think about this the better it seems. I now think the best thing that can happen to CCFC is WASPS buy out Shitsu !!!!
There would be no THEM and US it would be all in the one pot so to speak.
With the Rugby having a cap on there wage that leaves plenty for investment in CCFC. The end game for any owner/investment it to maximise revenue and with the FFP this would help us out big time. This is the way forward and I hope it comes off ASAP.