Wasps going into admin & the impact on CCFC (151 Viewers)

[hutch1972]

If they've got £5m knocking around shouldn't that be going to pay their debts?

They are planning to raise cash using a " bond scheme" , whatever that is.

 

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[steve cooper]

Wonder if it is being sold next week. Or some more creative use of using press to try and push someone to buying it.

I wouldn't read anything into that statement. These reporters generally know no more than anyone else, although they like to pretend they do.

 

[shmmeee]

Wonder if it is being sold next week. Or some more creative use of using press to try and push someone to buying it.

Or just a guess based on that’s when the extension runs up.

 

[Gynnsthetonic]

Surely to maximise the sale you'd put it on the open market before admin unless Richardson buys it for a £1 off himself

 

[Grendel]

If they've got £5m knocking around shouldn't that be going to pay their debts?

Admin does help deal with that and pre pack admin as we well know

 

[oldfiver]

Admin does help deal with that and pre pack admin as we well know

If they've got £5m knocking around shouldn't that be going to pay their debts?

P share £9m+ ? Loan security?

 

[shmmeee]

Surely to maximise the sale you'd put it on the open market before admin unless Richardson buys it for a £1 off himself

It is on the open market isn’t it?

 

[tisza]

According to the Times, CBS lease to be sold next week.

The Times & The Sunday Times

News and opinion from The Times & The Sunday Times

t.co

Surely the issue for players is that all the teams are on a salary cap that was mainly filled before the season started. There isn't any money to pay these players what they were on. No team is going to have the Launchbury 400k wage space at this stage of the season

 

[MalcSB]

P share £9m+ ? Loan security?

If the P share goes for £9m, it’s ring-fenced for the bondholders. The administrators should sell it back to PRL.

 

[CCFC54321]

Wonder if it is being sold next week. Or some more creative use of using press to try and push someone to buying it.

The stadium won’t be sold next week. Administration next Friday then the vultures circle.

SISU then say we tried but got out bid and we’re continuing with the Warwick project… yawn.

 

[Gynnsthetonic]

It is on the open market isn’t it?

Fuck knows?

 

[Wyken Sky Blue]

What happened last night?

Last night a DJ saved my life

Sent from my Pixel 6 using Tapatalk

 

[skyblu3sk]

Last night a DJ saved my life

Sent from my Pixel 6 using Tapatalk

 

[zuni]

Isn't it too quiet from sisu, gut feel is something big happening behind the scenes but could just be my dire need for something good to happen to us/city for once

Sisu said sell at the top of the curve which for me is now, at some point Mr will leave, we will get the transfer market wrong, lack of transfer action (always a risk we could get relegated) and the ground up for grabs..the shit heads are gone...its gotta be our time surely

 

[Deleted member 5849]

Isn't it too quiet from sisu

No

 

[Grendel]

Is it less than a week to go before the administration is confirmed for the arena?

still no even serious rumours about a buyer before that happens

 

[Sky Blue Pete]

Is it less than a week to go before the administration is confirmed for the arena?

still no even serious rumours about a buyer before that happens

Surely no one will act before admin?

 

[oldfiver]

Surely no one will act before admin?

Admin with a pre pack looking likely?

 

[Sky Blue Pete]

Admin with a pre pack looking likely?

Pre packed by whom and for whom

 

[oldfiver]

Pre packed by whom and for whom

An IP agrees a deal on the assumption there is an Administration

Until agreed we might not know the buyer (assuming there is one)

 

[Sky Blue Pete]

An IP agrees a deal on the assumption there is an Administration

Until agreed we might not know the buyer (assuming there is one)

IP??

 

[hutch1972]

Admin with a pre pack looking likely?

The pre pack admin stuff seems slightly immoral to me, especially when it comes to those owed money.

 

[oldfiver]

IP??

Insolvency Practioner

 

[Brighton Sky Blue]

Surely no one will act before admin?

Wouldn’t Saturday’s game be in doubt if ACL is put into admin on Friday, barring someone taking control at the same time?

 

[oldfiver]

The pre pack admin stuff seems slightly immoral to me, especially when it comes to those owed money.

The theory

What is Pre Pack Administration?

Although administration and pre-pack administration are governed by the same best practice requirements.

www.begbies-traynorgroup.com

 

[shmmeee]

So who is providing the funding right now? CCC said not them, Wasps are in Admin, Duggins said he expected bidders to pay for it, which suggests there’s a favourite bidder if it’s still going, right? Or have I missed something?

 

[oldfiver]

Wouldn’t Saturday’s game be in doubt if ACL is put into admin on Friday, barring someone taking control at the same time?

If it goes in to Admin then control passes to the Receiver. Reports say they want to sell as a going concern which, I assume includes getting CCFC rent

 

[Brighton Sky Blue]

If it goes in to Admin then control passes to the Receiver. Reports say they want to sell as a going concern which, I assume includes getting CCFC rent

You wouldn’t have staff though?

 

[wingy]

So who is providing the funding right now? CCC said not them, Wasps are in Admin, Duggins said he expected bidders to pay for it, which suggests there’s a favourite bidder if it’s still going, right? Or have I missed something?

With Derby I think the administrator recouped it from the eventual bidder

 

[oldfiver]

So who is providing the funding right now? CCC said not them, Wasps are in Admin, Duggins said he expected bidders to pay for it, which suggests there’s a favourite bidder if it’s still going, right? Or have I missed something?

What Funding would Arena need?

Duggins said he would hope serious bidders would bridge the gap

 

[shmmeee]

With Derby I think the administrator recouped it from the eventual bidder

There’s no admin for ACL though is there? Or would Wasps admin pick up the tab?

 

[ceetee]

When the Wasps Holding admin was announced the statement said that a number of employees would be retained to keep the stadium going. That suggests that the stadium staff are not employed by ACL. Have I misunderstood?

 

[shmmeee]

What Funding would Arena need?

Duggins said he would hope serious bidders would bridge the gap

Electricity bills, security, paying wages of ACL staff. That’s the gap that needs bridging this week and next. So that’s my question: if funding is needed (which common sense and talk of both council and bidders potentially stumping up would suggest) who is paying it?

If no funding is needed immediately, what the he’ll was Gilbert’s big scoop all about?

 

[Brighton Sky Blue]

There’s no admin for ACL though is there? Or would Wasps admin pick up the tab?

There will be on Friday

 

[shmmeee]

There will be on Friday

So is that when funding is needed from? I’m very confused. Why all the talk of the council having to provide emergency funding last week and Duggins saying it’s down to bidders and he hopes it doesn’t go to admin?