Sky Blue Pete
Well-Known Member
I bloody well hope people with more influence than me are speaking to both parties to get them talking about a solution!!
Come In Andy Street!
Come In Andy Street!
CBS issues (3 Viewers)
- Thread starter pusbccfc
- Start date
I said best case, not most likely!
KenilworthSkyBlue
Well-Known Member
Does he re-lay pitches in his spare time free of charge?
Sky Blue Pete
Well-Known Member
How is a new pitch a solution for the next couple of months????? He is independent of both parties and may have some influence
Talk me through the options?
CCfc say pitch promised
Wasps respond we told them it wouldn’t be changed and also expect by some bloody miracle the pitch to be ok in a week and to be fine for the season
Silly bloody games when a discussion is the only way to identify potential solutions to move forward. So so frustrating
Sick Boy
Super Moderator
That would be a shite deal for us.
KenilworthSkyBlue
Well-Known Member
He'll have zero influence. I still think it was laughable that he was hailed as some kind of vital mediator at the time of the Ricoh return between Wasps and the Club.
The two parties came together because there was no choice. Not because of Andy Street.
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Sky Blue Pete
Well-Known Member
And you can stick to that story if you like
I can’t see a better outcome really? Ideally you’d want wasps to fulfil their obligations and have a harmonious relationship but based on what SBB said that isn’t going to happen.
Grendel
Well-Known Member
He’s a self publicist really. He’s been living with Michael Fabricant too long
It’s all beyond mediation
Saddlebrains
Well-Known Member
Off the back of believers comments
Im preparing for us to be leaving the CBS again in the very near future
Im preparing for us to be leaving the CBS again in the very near future
Sky Blue Pete
Well-Known Member
Nothing is beyond discussion it’s the only way anything gets resolved
Sky Blue Pete
Well-Known Member
Talk
Talk us through how that works?
Saddlebrains
Well-Known Member
Someone on the bond site has said wasps have applied for a CVA? No idea
Grendel
Well-Known Member
If they really are raising a CVA they are at least attempting some restructure - they are not paying for anything
Saddlebrains
Well-Known Member
They dont have a pot to piss in to repair the pitch
Without a pitch we cant play
KenilworthSkyBlue
Well-Known Member
The club shouldn't bear sole responsibility or cost of pitch maintenance when that's not what was initially agreed when the sub-lease was signed. It sets a pretty poor precedent as well.
I think if the situation can't be resolved soon then it's likely we'll be moving away from the CBS again. Especially, if Gyokeres is sold in the coming weeks as you'd think that would certainly provide the club with the means to facilitate a move away, at least for the short term.
Telfer85
Well-Known Member
I think wasps will get the pitch playable but it won’t be a great surface that Robins wants. They won’t want us to leave due to loss of income and the efl won’t let us leave again whilst there is a playable pitch at the cbs. Is Andy Carroll still available?? Hooooooof
Sky Blue Pete
Well-Known Member
Anyone have any idea of a solution
Grendel
Well-Known Member
Also id guess other duties regarding basic maintenance
Nick
Administrator
Yes. All the councillors who said it was amazing move should stand in broadgatr to explain
Sky Blue Pete
Well-Known Member
Could we pay for a pitch? Possibly
Would efl allow us to? They’ve been very accommodating so maybe but not certain
Can we move to another ground this season? Unlikely surely these things take time
Will the pitch be playable by next Tuesday? Unlikely
Would efl allow us to? They’ve been very accommodating so maybe but not certain
Can we move to another ground this season? Unlikely surely these things take time
Will the pitch be playable by next Tuesday? Unlikely
Could we pay for a pitch - no
Would efl allow - yes
Can we move mid season - yes
Will the pitch be fit next week - yes
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Sky Blue Pete
Well-Known Member
Liking the optimism is it based on facts . How does one comprehend the upheaval of 13200 season ticket holders being accommodated or refunded?
David O'Day
Well-Known Member
pitch likely to be playable, shit but not dangerouse
Sky Blue Pete
Well-Known Member
Well then no need to move and we just need to get an agreement on pitch maintenance
Just predictions really. Can't see the pitch being deemed unplayable by the EFL next Tuesday. Robins may not be happy but surely it'll be on
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Colin Steins Smile
Well-Known Member
I think they'll find it difficult as my understanding of a CVA is they'll need 75% of bond holders to agree. If one of the major bond holders decide they are more likely to reduce their loses by putting Wasps into liquidation and regaining some value from the sale of the stadium.
Currently, their business model has spectacularly failed and there doesn't seem to be a plan B being promoted or looking credible.
Grendel
Well-Known Member
They won’t maintain it
Flying Fokker
Well-Known Member
Ha ha ha ha ha..,,fucking haFrom bondholders forum
coley88 
10 Aug '22 - 14:05 - 791 of 792
bigfish1
10 Aug '22 - 16:05 - 792 of 792
[email protected]
cc. [email protected]
cc. [email protected]
US Bank Trustees Limited (in its capacity as Issuer Security Trustee) 125 Old Broad Street London EC2N 1AR
Actually as it turns out, we may all need to go through our brokers as most of us are actually 'beneficial owners' and not legal owners. Our bonds are held for us in trust by the broker.
Just to be clear, Wasps Finance and Wasps Hodings are insolvent, we know this because they have defaulted on the bond. The consent solicitation is a CVA (Company voluntary arrangements) whereby an insolvent company seeks to reach an agreement with its creditors to prevent itslef having to go into liquidation. As we know, it requires 75% of bondholders to agree to any arrangement. We all need to get in contact with our brokers and make sure they keep us informed and know our wishes. Personally, unless they come up with a very convincing plan for repayment in a fairly short space of time, I am for selling the arena/liquidation. The amount of money they have lost, since well before the pandemic is astonishing. They also have added a further 20 million loan from Derek Richardson and sold a stake (what stake?) to CVC for 12.5 million. It's all vanished, there's nothing left. Except the stadium, whatever that's worth.
Wasp Bondholders Facebook Group: https://www.-1358371174688144
Colin Steins Smile
Well-Known Member
Exactly - this could lead to contagion of holders looking to cut their loses by seeking liquidation
Sky Blue Pete
Well-Known Member
And …
NortonSkyBlue
Well-Known Member
Where are we going?
thekidfromstrettoncamp
Well-Known Member
How many do you think will ask for refunding out of that 13200 .I would be 1 and think I would be in the majority group .No way is that an option due to our "financial postion".