Just let it happen (Help if you can) (4 Viewers)

[SkyBlueZack]

So sisu are wrong and unambitious for appearing to want ys to remain in league one. Yet we should all pray wasps take us over and keep us in league one? Couldn't make it up.

 

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[italiahorse]

Er no it isn't - the valuation is a projected valuation.

If the organisation went it to administration the lease reverts back to its original period.

The bonds are not secured in that sense at all are they?

Don't think I said it was worth nothing did I?

Bit of back tracking here.
How much is a white elephant worth ?

 

[stupot07]

Wasps won't need to invest, they will just keep us ticking over at this level and at cost zero for a period.
They will pick the club up for peanuts in a few years time and we will already be using their facilities so no investment costs.
The downside is that they will just let Sisu take us to the abyss and Sisu pride won't allow them to be big enough to stop that happening first.

so a race to the bottom, stuck in league one but managed by wasps.....


....great I can hardly wait.

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[italiahorse]

So sisu are wrong and unambitious for appearing to want ys to remain in league one. Yet we should all pray wasps take us over and keep us in league one? Couldn't make it up.

I'm no supporting it I'm just telling you how it will happen.
Sisu won't hand it over so Wasps will just wait.
Wasps won't even have to reduce the club value themselves, Sisu will do that for them.

 

[stupot07]

I'm no supporting it I'm just telling you how it will happen.
Sisu won't hand it over so Wasps will just wait.
Wasps won't even have to reduce the club value themselves, Sisu will do that for them.

Did your mate Nick tell you this?

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[SkyBlueZack]

Not supporting it? You created a thread about it. With the title just let it happen and help if you can. How is that not supporting it or encouraging it?

 

[SkyBlueZack]

OTE="stupot07, post: 1099403, member: 2007"]Did your mate Nick tell you this?

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Someone appears to have whispered some shit in his ear

 

[Moff]

That's the point. Wasps don't want to give evidence they are interested.
They are being more subtle.
They are squeezing us by pulling out of talks "because CCFC needs to do that first".
Or, with CCFC loosing the academy, "You can use our facilities"
Sisu are self destructing the club and the more pieces it is in the cheaper and easier to pick up it will be.
Moving to the Butts 'next' in temporary stands will further self destruct the finances and it's just a waiting game.
We need Sisu out in the next 2 years before that happens.

Cut the crap Italia, either state the facts you apparently know, or just admit its just a hunch based on your honest opinion, that Wasps are interested in the club.

My honest opinion is its utter rubbish. They are a business and don't want to look bad to the Coventry Public so are trying to appear fair so as not to cut off the hand that feeds them. In reality they don't give a damn about the football club, as like SISU, its all about the profit, not the sports.

I want the Club in new ownership but not from one ruthless Hedge Fund to another.

 

[Nick]

I'm no supporting it I'm just telling you how it will happen.
Sisu won't hand it over so Wasps will just wait.
Wasps won't even have to reduce the club value themselves, Sisu will do that for them.

If you aren't supporting it, why are you telling people to help if they can?

 

[martcov]

But Mart, they only thing they've got is the stadium...and that's due partly to CCC. The Ricoh was already getting gigs. They've got finance in the same way we had finance in the 90's...it's all debt...they don't actually own that finance.

Coupled with the fact that they moved their club 90 miles...remember the uproar when we were moved approximately a third of that distance?

Out of the frying pan, into the fire...


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Yes, exactly they have these things we don't. They may collapse at some time - or not -, but we have nothing - except the academy - and are losing that if something doesn't change. We are more in the mire than Wasps by a long way. I am not talking about morals, just facts. The have a better hand than we do.

 

[Deleted member 5849]

We are more in the mire than Wasps by a long way. I am not talking about morals, just facts. The have a better hand than we do

That is indeed true.

And is the most important reason there is for us to assert our existence, because otherwise it looks like nobody cares if we're walked over or not.

 

[SkyBlueZack]

Only because the council and Coventry public care more about getting one over on sisu. Than they care for history or tradition.

 

[covcity4life]

owning the club and stadium could have huge potential for wasps. shame it doesnt seem to be in their plans

 

[Grendel]

You agreed with SISU when they said it was worthless.

You said it was overvalued when SISU tried what they were doing. You said Wasps got it very cheaply when they secured the debt on it. You would get much more respect if you was constant with your views no matter whichever side you was talking about.

I never said any of that.

As someone once remarked regarding finances you struggle with the basics - as stupot has also highlighted with his post above.

 

[Astute]

I'm no supporting it I'm just telling you how it will happen.
Sisu won't hand it over so Wasps will just wait.
Wasps won't even have to reduce the club value themselves, Sisu will do that for them.

The odds are nobody knows what is going to happen next. That is unless the two hedge funds are working together in some way. Just like I stated previously.

Both sides didn't argue with each other about the talks stopping. Wasps say that talks won't continue until legal action stops. But stopping legal action isn't a condition of coming to an agreement? Really?

The arena is now secured away from CCC's grasp. SISU continue with the JR'S. We have to move out of the Ricoh. We don't get planning permission for the Butts. SISU say CCC forced us out of Coventry. CCFC loses academy home. JR3 on the way.

The arena is secure from CCC's grasp. JR taken as far as it can. Then Wasps and SISU get together in a joint venture as they can't raise the bond money alone.

I can sit here all day making up what is going to happen next. But until there is evidence of anything then anything can happen. If our club is self sufficient SISU won't need to sell.

 

[Astute]

I never said any of that.

As someone once remarked regarding finances you struggle with the basics - as stupot has also highlighted with his post above.

What basics are they? A worthless white elephant that was sold well under value when nearly 50m of debt was secured against it?

Oh sorry that was you.

 

[asiaskyblues]

It's makes complete sense for Wasps to own the club and do a lot of sharing.
However I get the impression unde the current circumstances they want nothing to do with us.
Also that SISU do not seem prepared to walk away.
The problem fur me us what is best for the club may not match what is best for SISU in terms of getting into a position of walking away.
I just hope their final solution if it is another stadium has the capacity fur expansion.

Excellent piece.

Firstly, Wasps would want something to do with us if the owners were different.

SISU have put a lot of money into CCFC and it's not their money. If they had walked away years ago their business faces would have been discredited and they would have lost a lot of custom. Because they continue the court cases their business outcome, in regard to CCFC, is inactive. I can understand their total frustration at trying to regain some of the losses but where football is concerned, especially with fans, they are so unforgiving.

Wasps owner has said he isn't even interested in rugby but he is interested in business. Wasps have a good business team and CCC, Higgs centre and all the others see this. At every move other organisations have approached Wasps, not the other way round. So I believe people's frustration on here is unfounded when it comes to 'pointing the finger'.
How can people rightfully blame Wasps for our demise? In fact in a good business world we should be playing on their success.

But we have a selfish ownership who don't look at the bigger picture. If Joy S is a christian that she professes to be then someone should educate her in how a sports club, football, rugby, athletics benefits the wider community. Sports is not primarily a business but because of TV, companies have become greedy. That is another flaw in SISUs armoury their motivation has been greed.

Logically Wasps taking over CCFC seems realistic but the politics, and the abuse, doesn't seem worth it.

Let me put it another way. In an ideal world if I won the lottery I'd buy CCFC. But, how it is if I won the lottery I wouldn't put £1 into the club, why? The owners want an unrealistic pric for the club BECAUSE of their own business mistakes. They want others to pay for that mistake. I wouldn't also because of the fans.

 

[italiahorse]

If you aren't supporting it, why are you telling people to help if they can?

It's going to happen so what's best for the club?
The longer Sisu stay the more we will fall and the less Wasps will pay.
I don't want us to fall any further so I want Sisu out ASAP to prevent that,
IMHO If they are still here in 2 years they will move us to the Butts in temporary stands,capacity 8000.
That's the timeline to get them out.
There is no other option.

 

[Sick Boy]

Hopefully after the franchise have taken over CCFC they will relocate to Cornwall.

 

[chiefdave]

It's going to happen

Is it now a fact that Wasps are going to take us over?

 

[chiefdave]

Hopefully after the franchise have taken over CCFC they will relocate to Cornwall.

would make good business sense, sure everyone will applaud them and support the move.

 

[oldskyblue58]

Really do not see how Wasps owning CCFC works.

It would add more risk to the bond security
it would require large amounts of additional cashflow to even hold our own in the Championship
It would actually add little to Wasps that is not already there in terms of income
the costs would be the same just allocated differently
it would split focus in terms of management
neither sports team is profitable in its own right
the cashflow requirements in the quiet months June & July would be bourne by one group
Wasps know little about running a football club

Just some of the obstacles

I do not see why Wasps would want to

 

[torchomatic]

What basics are they? A worthless white elephant that was sold well under value when nearly 50m of debt was secured against it?

Oh sorry that was you.

Funny, one of the things you used to bang on about was not letting SISU have the Ricoh, as they would borrow against it. Yet, the new Hedge Fund who rolled into town did just that, almost within weeks. And what do you have to say about it? Nothing, you just try and score a few Internet Points against Grendel.

 

[Astute]

Funny, one of the things you used to bang on about was not letting SISU have the Ricoh, as they would borrow against it. Yet, the new Hedge Fund who rolled into town did just that, almost within weeks. And what do you have to say about it? Nothing, you just try and score a few Internet Points against Grendel.

Has your memory gone? I always said that I wanted CCC to keep it for us until we were not run by a hedge fund. That was unless it could be legally worded and legally watertight that it stayed with CCFC. I have mentioned countless times how pissed off I am that Wasps got it. I have never had a good word for Wasps.

So I have questioned Grendels memory. You know I am right. But you come to defend him with an equally bad memory. Says it all.

 

[stupot07]

Really do not see how Wasps owning CCFC works.

It would add more risk to the bond security
it would require large amounts of additional cashflow to even hold our own in the Championship
It would actually add little to Wasps that is not already there in terms of income
the costs would be the same just allocated differently
it would split focus in terms of management
neither sports team is profitable in its own right
the cashflow requirements in the quiet months June & July would be bourne by one group
Wasps know little about running a football club

Just some of the obstacles

I do not see why Wasps would want to

Thanks OSB, pretty much sums up the point I was trying to make.

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[torchomatic]

Has your memory gone? I always said that I wanted CCC to keep it for us until we were not run by a hedge fund. That was unless it could be legally worded and legally watertight that it stayed with CCFC. I have mentioned countless times how pissed off I am that Wasps got it. I have never had a good word for Wasps.

So I have questioned Grendels memory. You know I am right. But you come to defend him with an equally bad memory. Says it all.

No, my memory hasn't gone. I remember a few posts where you stated that SISU would liquidate us if they got hold of the ricoh. That they would load debt against it.

 

[Astute]

No, my memory hasn't gone. I remember a few posts where you stated that SISU would liquidate us if they got hold of the ricoh. That they would load debt against it.

It has as I said that they could. Just like I also said that they could sell our club cheaply and keep the arena. I also said a few other senarios. And we will never know as they didn't get it.

 

[oldfiver]

It's going to happen so what's best for the club?
The longer Sisu stay the more we will fall and the less Wasps will pay.
I don't want us to fall any further so I want Sisu out ASAP to prevent that,
IMHO If they are still here in 2 years they will move us to the Butts in temporary stands,capacity 8000.
That's the timeline to get them out.
There is no other option.

Interesting line "WASPS will pay" ?

 

[italiahorse]

Interesting line "WASPS will pay" ?

The whole post was interesting I thought ?

 

[oldfiver]

The whole post was interesting I thought ?

So bits more interesting than others

 

[torchomatic]

The whole post was interesting I thought ?

Still struggling with your concept that Wasps taking us over will help get our identity back. How does that work then?

 

[italiahorse]

Still struggling with your concept that Wasps taking us over will help get our identity back. How does that work then?

Better than now ?

 

[Moff]

The whole post was interesting I thought ?

It just lacked facts.

Happy for you to prove me wrong, but I suspect you cant and its just opinion.

 

[Sick Boy]

Still struggling with your concept that Wasps taking us over will help get our identity back. How does that work then?

His main concern is the money in his pocket.

 

[Sick Boy]

It just lacked facts.

Happy for you to prove me wrong, but I suspect you cant and its just opinion.

Of course it is his opinion (or something he is trying to pass off as his own).