Wasps downward spiral... (51 Viewers)

Nick · Jun 16, 2022

fernandopartridge said:
He's massively conflicted, ex ACL director heavily involved in the ACL / CCC / SISU dispute, massively invested his own reputation in the Wasps project. If only the Tories hadn't obliterated the independent Audit functions overseeing xentral and local government...

It's madness, surely it's not even allowed because of his links?

David O'Day · Jun 16, 2022

Bit shocking if Reeves has not even told the elected council leaders

fernandopartridge · Jun 16, 2022

Can't help but think an irritated councillor has released the story, if so, fair play to them

ccfc1234 · Jun 16, 2022

If i was Sisu I would be firing low key warning shots to Martin Reeve, the West mids financing group and anyone else who is in support of state aid. Public funds are scarcer than ever, as Clint said above library's are crowd funding their existence. Millions of pounds to prop up a failing business is not in the interests of the wider public.
What is extra frustrating is that CCFC over the years would never get this sort of gold plated help, despite the fact that we have been the major sporting team in the City for many generations.

Nick · Jun 16, 2022

I thought reeve worked for the combined authority too?

fernandopartridge · Jun 16, 2022

Nick said:
I thought reeve worked for the combined authority too?

I thought that but discovered that they appointed a full time CEO last year

Nick · Jun 16, 2022

fernandopartridge said:
I thought that but discovered that they appointed a full time CEO last year

Ah it must have been temporary then as he was working for them both. That is even more dodgy, then add in being a director of ACL.

tisza · Jun 16, 2022

How about Richardson writes off his loans that would make bond refinancing easier
We were always fed stories about how much money certain ccfc directors wrote off to try and help their club

Liquid Gold · Jun 16, 2022

Overson (the guy that told the trust to fuck off when he found out they were working with Wasps) knows

Flying Fokker · Jun 16, 2022

If the Lizard has been lobbying for Wasps, he needs to resign.

Liquid Gold · Jun 16, 2022

All of the accusations of wearing tin hats and being conspiracy theorists over the years because we wouldn't accept PR people telling us how it was on here or the council being obviously in bed and yet again it's proved to be correct.

Sky Blue Harry H · Jun 16, 2022

Anybody else think we ought to be getting Blues fans on this case - why not for the Trillion, if you're going to help Wasps. Would think they'd soon pick this up and kick up a stink.

Brighton Sky Blue · Jun 16, 2022

Sky Blue Harry H said:
Anybody else think we ought to be getting Blues fans on this case - why not for the Trillion, if you're going to help Wasps. Would think they'd soon pick this up and kick up a stink.

I think that ground of theirs already stinks plenty

Sky Blue Harry H · Jun 16, 2022

There you go, I've signed up and posted to see what happens?!?

https://www.smallheathalliance.com/read.php?1,3216612

shepardo01 · Jun 16, 2022

Sky Blue Harry H said:
There you go, I've signed up and posted to see what happens?!?

https://www.smallheathalliance.com/read.php?1,3216612

Might be worth linking Gilbert's tweets.
And saying that it is likely that their application is that, but will end up paying of shortfall of bond payment (debt!) and not be used to repair the ground.

Saddlebrains · Jun 16, 2022

Tweeted blues under the KRO hashtag also

More people that kick up a fuss the better

duffer · Jun 16, 2022

fernandopartridge said:
He's massively conflicted, ex ACL director heavily involved in the ACL / CCC / SISU dispute, massively invested his own reputation in the Wasps project. If only the Tories hadn't obliterated the independent Audit functions overseeing central and local government...

Absolutely spot on. This is extremely dubious at best given his history; it is entirely improper that he didn't consult with elected officials before acting on ACL/Wasps behalf and perhaps even recuse himself from the process.

We're paying this bloke approximately £200k p.a.. As someone appointed to public office, he's supposed to uphold the Nolan Principles. There's more than one that he might have broken, but these stand out for me...

Integrity: Holders of public office must avoid placing themselves under any obligation to people or organisations that might try inappropriately to influence them in their work.

Openness: Holders of public office should act and take decisions in an open and transparent manner.

It won't happen of course, but I'd be happy to see him sacked.

duffer · Jun 16, 2022

Last one of the evening, promise. Wasps have been here before of course, trying to leverage Wycombe District Council:

Wycombe Air Park sports project turned down

Plans for a stadium and sports project in Buckinghamshire are turned down by councillors.

www.bbc.co.uk

Once again using the implied threat of administration/liquidation if they didn't get their way. They ended up moving 82 miles away of course. Gosh, that would be a sad outcome...

jordan210 · Jun 16, 2022

duffer said:
Last one of the evening, promise. Wasps have been here before of course, trying to leverage Wycombe District Council:

Wycombe Air Park sports project turned down

Plans for a stadium and sports project in Buckinghamshire are turned down by councillors.

www.bbc.co.uk

Once again using the implied threat of administration/liquidation if they didn't get their way. They ended up moving 82 miles away of course. Gosh, that would be a sad outcome...

If they go 82 miles North east by east they will end up in the Sea where they belong !

MAFF · Jun 16, 2022

someone check on bobby bridge

fernandopartridge · Jun 16, 2022

IMissMAF said:
someone check on bobby bridge

He's just preparing a story

"Investors planning £13m boost for top rugby club"

mr_monkey · Jun 16, 2022

IMissMAF said:
someone check on bobby bridge

I can't

oldfiver · Jun 16, 2022

fernandopartridge said:
He's just preparing a story

"Investors planning £13m boost for top rugby club"

Which 5 investors will put in £2.6m each?

CCFC54321 · Jun 16, 2022

mr_monkey said:
I can't

I imagine the calls gone in checking the free waspie shirt is still ringfenced for him… if not this will get interesting….

Philosoraptor · Jun 16, 2022

That drunk, I almost missed putting whiskey in the glass. This has been a long time coming. I think how this group has treated other sporting clubs (CCFC and Coventry RFC aside) has been absolutely abysmal.

Philosoraptor · Jun 16, 2022

Just hope, if they do need to go into administration, the money will be taken from the wasp group and not from the stadium.

It needs protecting.

fernandopartridge · Jun 16, 2022

Shugs over on Drunken Wasps

Liquid Gold · Jun 16, 2022

I hope after all is done and wasps are no longer here and in the spirit of reconciliation those from Cov that did go and support them are too embarrassed to ever go to the arena again and if they do attempt it any mention that they supported them gets them swiftly kicked the fuck out (of).

Peter Billing · Jun 16, 2022

Liquid Gold said:
Surely that would have been ring fenced though.

Looks good in accounts but has no material impact.

Unless there has been some misuse of funds or corruption in the contract, neither of which can be ruled out with this relationship.

If the funds are considered capital expenditure then the benefit would be material on the balance sheet. It suggests the £5m they secured before wasn't enough and this is the second go to try fill a gap in the security. Absolutely stinks of desperation.

HuckerbyDublinWhelan · Jun 16, 2022

Liquid Gold said:
I hope after all is done and wasps are no longer here and in the spirit of reconciliation those from Cov that did go and support them are too embarrassed to ever go to the arena again and if they do attempt it any mention that they supported them gets them swiftly kicked the fuck out (of).

Reckon Jan will come crawling back?

Philosoraptor · Jun 16, 2022

I think a question needs to be asked of how long has CCC known about this. Is this part of the reason Ann Lucas has suddenly disappeared from the scene?

She did want to talk about CCFC like it was urgent before she bowed out.

Liquid Gold · Jun 16, 2022

HuckerbyDublinWhelan said:
Reckon Jan will come crawling back?

If he comes crawling a mile over broken glass then I'd make him do the mile back

chiefdave · Jun 16, 2022

Doesn't look like they'd be welcomed back at Wycombe

Liquid Gold · Jun 16, 2022

Peter Billing said:
If the funds are considered capital expenditure then the benefit would be material on the balance sheet. It suggests the £5m they secured before wasn't enough and this is the second go to try fill a gap in the security. Absolutely stinks of desperation.

By material impact I mean in operating funds and cashflow.

I work for a charitable organisation and when we receive funds that are contracted for activities it is restricted to be spent on that. It still appears as income and is held as funds on a balance sheet but but if we either a, weren't holding enough cash or b, were spending the funds on something outside of the agreement we'd be in breach of contract and have to return the entirety.

If they were given £5m to do some renovations and haven't done them and the contract doesn't punish that then it's corrupt as fuck. If they're trying to do that twice then you shouldn't have to discuss anything else before you see how unscrupulous the behaviour of Wasps and CCC has been.

CCFC54321 · Jun 16, 2022

When they do go pop will they be a huge party etc in the CBS that night like the VE Day celebrations?

Wasps downward spiral... (51 Viewers)

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