Wasps going into admin & the impact on CCFC (141 Viewers)

[Saddlebrains]

What a twonk.

He was claiming to be the bloke that got us back to Cov wasn't he?

We came back because CBS wouldn't sponsor the stadium without us and Wasps were fucking penniless

Could have had Bin Laden leading negotiations for us and we would have still come back, the bloke looks like a slipper

 

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[Liquid Gold]

My favourite so far is that they went bust because of legal fees sisu made them pay

 

[Skyblueweeman]

What a twonk.

Has he forgotten that there was already a professional rugby team that was already in Coventry??

 

[duffer]

What would be funny is if we quietly rearrange the seats that spell out Wasps in the stands while the game is going on so when everyone leaves it no longer says Wasps.

I've not looked closely, but I reckon a 13 or 14mm socket would be the right size. Just need a distraction from the flare boys in Singer's corner and it's game on.

 

[CCFC54321]

Has he forgotten that there was already a professional rugby team that was already in Coventry??

I’d say he didn’t even know mate.

 

[lordsummerisle]

Well done all, MMM crying now.

 

[Liquid Gold]

Well done all, MMM crying now.

Overflowing with the most melancholic hysteria to distress hisown physiognomy this past decennium.

 

[shepardo01]

Get your questions in to Cllr Gary Ridley on twitter ...

 

[AOM]

Has he forgotten that there was already a professional rugby team that was already in Coventry??

I've also heard a few times "It's sad the Coventry area is now losing a local sports team..."
The local team are still here!

 

[Brighton Sky Blue]

I’d say he didn’t even know mate.

You want some?

 

[SkyBlueSam01]

What would be funny is if we quietly rearrange the seats that spell out Wasps in the stands while the game is going on so when everyone leaves it no longer says Wasps.

'SWAPS'

 

[CCFC54321]

You want some?

Yes please.

 

[Brighton Sky Blue]

What would be funny is if we quietly rearrange the seats that spell out Wasps in the stands while the game is going on so when everyone leaves it no longer says Wasps.

Remove the ‘w’ and the ‘p’

 

[Brighton Sky Blue]

Yes please.

He’ll give it ya

 

[SkyBlueSam01]

Perhaps we should rearrange it to 'SWAPS' ?

Beat me to it!

 

[duffer]

If you own a leasehold home, in theory once the lease expires the property standing on the leasehold ground then belongs to the leaseholder. This doesn't usually happen in practice (if the lease is extended prior to expiry).

Buying or owning a leasehold home

www.gov.uk

Depending on the terms of the lease, that may apply to the arena, in which case if CCC revoke the lease upon admin, then the administrator has nothing to sell, and the arena belongs to CCC. I am assuming that is correct.

The bondholders have a mortgage on the lease, that's clear enough in the prospectus.

I honestly don't think that it will just revert to the council if ACL go into administration.

There could well be a big bunfight brewing over this, but I think it's more likely that as the freeholder the council were already aware and probably agreed to allow Wasps to mortgage the lease so that they could issue the bonds.

Joining the dots, it might explain why the council would rather ACL didn't go into admin, it would save awkward questions about why they allowed a security that prevents the freehold (edit: leasehold) automatically reverting back to them if Wasps went pop.

Just a theory, and just mho. The mortgage is a fact though.

 

[Skyblueweeman]

Overflowing with the most melancholic hysteria to distress hisown physiognomy this past decennium.

You swallowed a dictionary mate?

 

[Liquid Gold]

Halftime entertainment can someone just nick thier mascot outfit and whoever has got kick it for a ticket chases them round the pitch and gives them a good kick in.

 

[Nick]

Surely Andy Street knows about Cov Rugby Club?

 

[robbiethemole]

We would all absolutely want to stay in Coventry,” said Wasps chief Vaughan in a local area BBC CWR radio interview. “Coventry, the people, I know you get the naysayers which we will always have but all the authorities, we have got a wonderful training facility in Henley-in-Arden, absolutely, our first choice would be Coventry and the West Midlands, without a shadow of a doubt.

This fucker has to be the biggest bullshitter ever

 

[rexo87]

I don't like Andy Street so don't go all mental at me but... aren't Cov Rugby technically semi pro so what he is saying is kinda true?

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[duffer]

I don't like Andy Street so don't go all mental at me but... aren't Cov Rugby technically semi pro so what he is saying is kinda true?

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Fair question, but Coventry aren't semi-pro. Street was dead wrong about this.

 

[Colin Steins Smile]

The football club accounts for less than 5% of ACL revenues

Does that figure take into account the secondary spend? A wholistic assessment of ccfc occupancy would be more accurate, rather than a single cost centre.

 

[Calista]

Under any new owner, will the stadium be (at least initially) debt free?

If so, the only debt that isn’t going to be dealt with (one way or another) by this process is whatever is owed to Sisu. How much is involved?

 

[Philosoraptor]

We would all absolutely want to stay in Coventry,” said Wasps chief Vaughan in a local area BBC CWR radio interview. “Coventry, the people, I know you get the naysayers which we will always have but all the authorities, we have got a wonderful training facility in Henley-in-Arden, absolutely, our first choice would be Coventry and the West Midlands, without a shadow of a doubt.

This fucker has to be the biggest bullshitter ever

Don't listen to what they say, watch the moves on the board to see what they are up to.

What they say and what they do are two entirely separate things.

Things of interest today, CCC Full council meeting usually at 2.00pm I believe.

Whilst the boredom takes over watching the meeting, the usual question of how tired Duggins looks and which one of the mushrooms will take over next always springs to mind.

 

[Red House Coaches]

Surely Andy Street knows about Cov Rugby Club?

Doesn't sound like it.

 

[Red House Coaches]

I don't like Andy Street so don't go all mental at me but... aren't Cov Rugby technically semi pro so what he is saying is kinda true?

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No. Fully professional.

 

[Skyblueweeman]

I don't like Andy Street so don't go all mental at me but... aren't Cov Rugby technically semi pro so what he is saying is kinda true?

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They're a professional rugby team

 

[clint van damme]

Get your questions in to Cllr Gary Ridley on twitter ...

Wheres the Lord mayor gone?

 

[rexo87]

Fair enough Streets just a prick then. Did they turn pro recently? Sure they were semi pro not long back

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[clint van damme]

State of this

 

[HuckerbyDublinWhelan]

We would all absolutely want to stay in Coventry,” said Wasps chief Vaughan in a local area BBC CWR radio interview. “Coventry, the people, I know you get the naysayers which we will always have but all the authorities, we have got a wonderful training facility in Henley-in-Arden, absolutely, our first choice would be Coventry and the West Midlands, without a shadow of a doubt.

This fucker has to be the biggest bullshitter ever

Eyeing up the Alexandra stadium maybe?

 

[CCFCSteve]

Under any new owner, will the stadium be (at least initially) debt free?

If so, the only debt that isn’t going to be dealt with (one way or another) by this process is whatever is owed to Sisu. How much is involved?

The most likely solution is that following administration the stadium/long lease is sold* and bondholders get Xp in the pound (as I can’t see it selling for more than £35m and that’s before any professional fees). At that point the stadium will be free from any debts/liabilities…unless new owner has borrowed against it

*there might be a period of trading I guess and that’s what CCC might have to help fund. If so, they’d receive repayment of this before bondholders receive their distribution

 

[Citysince47]

Has he forgotten that there was already a professional rugby team that was already in Coventry??

Not only that but they have been in existence since 1874. Even older than the City

 

[rexo87]

If anyone's sad enough to want to watch the council meeting... believe its at 2. Pre drink at 1 in preparation

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