Wasps going into admin & the impact on CCFC (102 Viewers)

[MalcSB]

Here's Stephen Vaughan's interview

BBC CWR Sport - Wasps go into administration with debts of tens of millions of pounds. - BBC Sounds

In all 167 people have lost their jobs including players and coaching staff.

www.bbc.co.uk

Theres a load of bollocks in that interview.

 

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[ccfcrob]

HEY! I didn't authorise the use of this

 

[HuckerbyDublinWhelan]

A teary eyed Wasps head coach on SSN

 

[RegTheDonk]

Bobby Bridge from the heart:

The darkest day in Wasps' history.

Well, let us digest that statement.

We were expecting Wasps to go into administration, but the most shocking line is that 'joint Administrators were required to make 167 employees redundant, including all members of the playing squads and coaching staff'.

This was the worst-case scenario for fans of the club, and for those employed by Wasps.

They are now out of work. Everything that was built by head coach Lee Blackett and his group, is now in ruins.

Young men whose dreams of playing in black and gold, crushed.

Men and women who depend on the club to pay their bills, now without an income.

The vast majority of these employees live in the real world financially. Modest incomes without great pools of reserves. This isn't football, the rewards in rugby are far, far smaller.

As the statement says, it's a dark day. The darkest in Wasps' history.

And the biggest tragedy of all. I will have to pay for a Rugby Shirt from now on

Blame Richardson Bobby. Look on the bright side, he's probably got a shop full of shirts he can give you.

 

[RegTheDonk]

Its not a place, Not a city not a town....

Well thats what happens when your a Francises you have home !

Well, probably not "forever"

 

[fernandopartridge]

Theres a load of bollocks in that interview.

Mixed emotions in there? Really?

Broke even for 6 months?

 

[Saddlebrains]

Just had a nice chat with a friend of mine

Works for the council

Can now also say he's Gilberts leak so line up to buy him a pint

From Duggins directly (of course i cannot share on here) wasps are dead. Kaput. Gone. Will no longer be a club let alone in Coventry

There will be a vote on funding ACL in the time being, this is to ensure our games still go ahead, as the stadium at the mo literally hasnt a pot to piss in and contrary to media reports there is NO credible buyer for the stadium

Sisu are being 'strangely quiet' and council and sisu relations are nowhere near as frosty as they were.

The NEC are the only interested party at the mo, have lost 8.5 million in revenue to the CBS and is a case of cant beat them join them however they would not give 2 hoots about CCFC and is the worst possible thing that can happen

Will keep you all posted

 

[Philosoraptor]

Bobby Bridge from the heart:

The darkest day in Wasps' history.

Well, let us digest that statement.

We were expecting Wasps to go into administration, but the most shocking line is that 'joint Administrators were required to make 167 employees redundant, including all members of the playing squads and coaching staff'.

This was the worst-case scenario for fans of the club, and for those employed by Wasps.

They are now out of work. Everything that was built by head coach Lee Blackett and his group, is now in ruins.

Young men whose dreams of playing in black and gold, crushed.

Men and women who depend on the club to pay their bills, now without an income.

The vast majority of these employees live in the real world financially. Modest incomes without great pools of reserves. This isn't football, the rewards in rugby are far, far smaller.

As the statement says, it's a dark day. The darkest in Wasps' history.

And the biggest tragedy of all. I will have to pay for a Rugby Shirt from now on

Coventry Telegraph Business Awards - Company of the Year 2016

 

[SHUNT31]

Just had a nice chat with a friend of mine

Works for the council

Can now also say he's Gilberts leak so line up to buy him a pint

From Duggins directly (of course i cannot share on here) wasps are dead. Kaput. Gone. Will no longer be a club let alone in Coventry

There will be a vote on funding ACL in the time being, this is to ensure our games still go ahead, as the stadium at the mo literally hasnt a pot to piss in and contrary to media reports there is NO credible buyer for the stadium

Sisu are being 'strangely quiet' and council and sisu relations are nowhere near as frosty as they were.

The NEC are the only interested party at the mo, have lost 8.5 million in revenue to the CBS and is a case of cant beat them join them however they would not give 2 hoots about CCFC and is the worst possible thing that can happen

Will keep you all posted

Don’t think he council can afford to make the mistake of pissing off the football club.

Imo, they need to bend over backwards for the club to ensure the lease goes to them.


Sent from my iPhone using Tapatalk

 

[fernandopartridge]

The council might want to think about splitting the lease up into parts - (1) the exhibition hall and (2) the stadium bowl

 

[Nick]

The council might want to think about splitting the lease up into parts - (1) the exhibition hall and (2) the stadium bowl

Then there's the casino and hotel too

 

[HuckerbyDublinWhelan]

E

Just had a nice chat with a friend of mine

Works for the council

Can now also say he's Gilberts leak so line up to buy him a pint

From Duggins directly (of course i cannot share on here) wasps are dead. Kaput. Gone. Will no longer be a club let alone in Coventry

There will be a vote on funding ACL in the time being, this is to ensure our games still go ahead, as the stadium at the mo literally hasnt a pot to piss in and contrary to media reports there is NO credible buyer for the stadium

Sisu are being 'strangely quiet' and council and sisu relations are nowhere near as frosty as they were.

The NEC are the only interested party at the mo, have lost 8.5 million in revenue to the CBS and is a case of cant beat them join them however they would not give 2 hoots about CCFC and is the worst possible thing that can happen

Will keep you all posted

if you’re not bullshitting - that NEC part is the one that concerns me and has done.

we need SISU to get involved asap.

 

[JAM See]

Just had a nice chat with a friend of mine

Works for the council

Can now also say he's Gilberts leak so line up to buy him a pint

From Duggins directly (of course i cannot share on here) wasps are dead. Kaput. Gone. Will no longer be a club let alone in Coventry

There will be a vote on funding ACL in the time being, this is to ensure our games still go ahead, as the stadium at the mo literally hasnt a pot to piss in and contrary to media reports there is NO credible buyer for the stadium

Sisu are being 'strangely quiet' and council and sisu relations are nowhere near as frosty as they were.

The NEC are the only interested party at the mo, have lost 8.5 million in revenue to the CBS and is a case of cant beat them join them however they would not give 2 hoots about CCFC and is the worst possible thing that can happen

Will keep you all posted

Fuck me. That penultimate paragraph is bleak if I'm reading it correctly.

 

[rexo87]

Just had a nice chat with a friend of mine

Works for the council

Can now also say he's Gilberts leak so line up to buy him a pint

From Duggins directly (of course i cannot share on here) wasps are dead. Kaput. Gone. Will no longer be a club let alone in Coventry

There will be a vote on funding ACL in the time being, this is to ensure our games still go ahead, as the stadium at the mo literally hasnt a pot to piss in and contrary to media reports there is NO credible buyer for the stadium

Sisu are being 'strangely quiet' and council and sisu relations are nowhere near as frosty as they were.

The NEC are the only interested party at the mo, have lost 8.5 million in revenue to the CBS and is a case of cant beat them join them however they would not give 2 hoots about CCFC and is the worst possible thing that can happen

Will keep you all posted

My understanding is our sub lease is protected so at the very least we have 9 years at the CBS left even if the stadium owners dont care about us

 

[chiefdave]

There will be a vote on funding ACL in the time being, this is to ensure our games still go ahead, as the stadium at the mo literally hasnt a pot to piss in and contrary to media reports there is NO credible buyer for the stadium

Sisu are being 'strangely quiet' and council and sisu relations are nowhere near as frosty as they were.

The NEC are the only interested party at the mo, have lost 8.5 million in revenue to the CBS and is a case of cant beat them join them however they would not give 2 hoots about CCFC and is the worst possible thing that can happen

tbh I think the NEC taking over and not giving two hoots about us wouldn't be the worst thing. They can get on with running the hall and putting on events there and we can look after ourselves. Realistically we're not looking at much more than maintaining the pitch and doing that ourselves would be a plus to me.

Realistically the NEC would be quite happy to have revenue from hundreds of thousands of people a years and the stadium in use 20-something day a year. Not like they can knock the stadium down and use it as exhibition space and despite what a lot of Wasps fans thought the chance of the number of concerts every summer is slim.

 

[Nick]

 

[skyblu3sk]

My understanding is our sub lease is protected so at the very least we have 9 years at the CBS left even if the stadium owners dont care about us

Could mean more pitch issues etc also would depend on the type of admin/liquidation for the arena as to if it would break the lease. A straight sale should in theory retain the lease.

 

[Brighton Sky Blue]

E

if you’re not bullshitting - that NEC part is the one that concerns me and has done.

we need SISU to get involved asap.

Or hope for somebody else wanting to own stadium and club.

 

[napolimp]

tbh I think the NEC taking over and not giving two hoots about us wouldn't be the worst thing. They can get on with running the hall and putting on events there and we can look after ourselves. Realistically we're not looking at much more than maintaining the pitch and doing that ourselves would be a plus to me.

Realistically the NEC would be quite happy to have revenue from hundreds of thousands of people a years and the stadium in use 20-something day a year. Not like they can knock the stadium down and use it as exhibition space and despite what a lot of Wasps fans thought the chance of the number of concerts every summer is slim.

Yeah, this. Makes sense for NEC group to buy the stadium, they have a monopoly on event venues in the West Mids. But they're hardly going to have an empty sports pitch are they, and you can't get rid of the pitch either. The main issue is that the club remains in the same state for the foreseeable future, until it has its own ground.

 

[Tommo1993]

Seeing some Coventry based “fans” “upset”. Like seeing an overgrown child crying about a toy they were interested in for one day being taken away from them years later.

 

[HuckerbyDublinWhelan]

Could mean more pitch issues etc also would depend on the type of admin/liquidation for the arena as to if it would break the lease. A straight sale should in theory retain the lease.

And this is why for The last 8 years to have meant something - SISU have got to buy the damn thing.

we all assumed Joy’s plan was to wait out wasps - now they’ve fucked off its time for them to strike

 

[SHUNT31]

Would the NEC be that interested though?

They’d get the exhibition hall to put events on which is smaller than their venue in Brum.

Would only be able to have concerts in the bowl for 3 months of the year, if that.

It just doesn’t seem viable. The only way I see the arena being profitable is with it being attached to a Premier League team.


Sent from my iPhone using Tapatalk

 

[rexo87]

And this is why for The last 8 years to have meant something - SISU have got to buy the damn thing.

we all assumed Joy’s plan was to wait out wasps - now they’ve fucked off its time for them to strike

Theres not even been any suggestion that they are interested

 

[COVKIDSNEVERQUIT]

I reckon Ashley would be interested in ACL

ACL have 2 weeks before they two will go into administration, that's when Ashley will strike.

If nothing happens then the football club will be locked out of the CBS arena.

 

[SHUNT31]

Theres not even been any suggestion that they are interested

Doesn’t mean they are not just because it’s not on public record.


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[Mcbean]

I guess there should be good will offer made to Wasps season ticket holders to take CCFC season tickets for around £700 - bargain

 

[Saddlebrains]

Correct sorry should clear up, our lease for the next 8.5 years of course stands under any circumstance of a new stadium owner (if they dont also own the club)

But yes as stated on here previously NEC buying the place would be horrendous

 

[skyblu3sk]

And this is why for The last 8 years to have meant something - SISU have got to buy the damn thing.

we all assumed Joy’s plan was to wait out wasps - now they’ve fucked off its time for them to strike

I agree 100% I will be fucking delighted if we are finally the masters of our own destiny.

 

[fatso]

The only bid we’ve actually heard of is NEC right?

We are unlikely to hear anything about potential bidders until such time as due diligence is completed. These things are rarely done in the public domain.

 

[1ccfc]

Theres not even been any suggestion that they are interested

Surly they must be? Why bother with all the court action in relation to the undervaluation in the lease wasps took? It's whether they are interested at a sensible valuation, or do they want it for nothing.

 

[shmmeee]

We are unlikely to hear anything about potential bidders until such time as due diligence is completed. These things are rarely done in the public domain.

Id hope so. One of the reasons I write off any bid we first hear about from the Telegraph.

Impatient now. New owners by the WC please.

 

[Liquid Gold]

ACL have 2 weeks before they two will go into administration, that's when Ashley will strike.

If nothing happens then the football will be locked out of the CBS arena.

No, it means the administrators would be in control of the arena.

They won't void the lease or the lock the club out as it will deprive them of one of the few streams of income they have.

Wasps have got rid off all their staff because they already had the administrators in and must have been informed that there is no way to afford them. It will be a completely different situation for ACL.

 

[fatso]

Id hope so. One of the reasons I write off any bid we first hear about from the Telegraph.

Impatient now. New owners by the WC please.

By the toilet ?????

 

[chiefdave]

But they're hardly going to have an empty sports pitch are they, and you can't get rid of the pitch either. The main issue is that the club remains in the same state for the foreseeable future, until it has its own ground.

I know we all said this before Wasps turned up but after the disaster its been for them can we really see another team giving it a go? Realistically who could come anywhere close to getting 10K let alone 30K?

Would the NEC be that interested though?

They’d get the exhibition hall to put events on which is smaller than their venue in Brum.

Would only be able to have concerts in the bowl for 3 months of the year, if that.

It just doesn’t seem viable. The only way I see the arena being profitable is with it being attached to a Premier League team.

The NEC Group has been diversifying in the last couple of years into owning and operating other venues so it fits pretty much perfectly for them.

How many stadiums in the country manage to exist with just a football club and zero concerts. Not sure why its not viable for Coventry when so many other cities in the country can manage it.

 

[1ccfc]

This gives Sisu their exit. They've got half the puzzle in the club. Get the stadium and sell the lot. Everyone's a winner.