Wasps going into admin & the impact on CCFC (182 Viewers)

[Gynnsthetonic]

A problem I suspect

But clubs go into admin and the stadiums still operates, wont the cost go on to the stadium sale

 

---

[Grendel]

But clubs go into admin and the stadiums still operates, wont the cost go on to the stadium sale

The stadium clearly has no money and now liquidation is being muted

 

[Nick]

The stadium clearly has no money and now liquidation is being muted

Which means the Council would get the lease back and would surely want it to keep running?

 

[RegTheDonk]

Ashley is not interested -

Well thats us fucked then. Renting forever with SISU taking their fees. Surely there is some optimisum?

If the trust had and skill or credibility amongst the fans they would already have been looking to get control of the arena but obviously they wouldn’t want to upset the London team that used to play there.

Wasps asside, what are they playing at? Aren't they the go to guys for the media soundbite? Hardly a peep.

 

[Nick]

Well thats us fucked then. Renting forever with SISU taking their fees. Surely there is some optimisum?


Wasps asside, what are they playing at? Aren't they the go to guys for the media soundbite? Hardly a peep.

The woman from the trust was expressing her sadness at Wasps going bust.

 

[Grendel]

Which means the Council would get the lease back and would surely want it to keep running?

Why would they?

 

[Nick]

Why would they?

To get maximum value of selling the lease again for the tax payers etc etc?

 

[duffer]

Well thats us fucked then. Renting forever with SISU taking their fees. Surely there is some optimisum?


Wasps asside, what are they playing at? Aren't they the go to guys for the media soundbite? Hardly a peep.

Personal opinion is that the Trust is perhaps too divisive to be involved, and probably too disorganised to get involved.

I can't see that it would take a massive initial effort to get the ball rolling on a fan led buy out of ACL. Whether people would really put their hands in their pockets, that's a different matter.

 

[Deleted member 5849]

They also take on all of the debt then though?

They don't necessarily, a creditor can still make an agreement to accept less outside of an administration process.

 

[Grendel]

To get maximum value of selling the lease again for the tax payers etc etc?

It wouldn't make any difference. Its a logistical headache to fund the opening of it and there is no money coming into it as all our money is paid to us.

Who pays for the catering, staff, maintenance, policing, parking attendants, electricity for lighting, heating etc?

 

[shepardo01]

Gilbert's observations...

 

[Tommo1993]

Trying to comprehend the ins and outs of administration.

 

[shepardo01]

.....a take from "the rugby family"..

 

[Samo]

Personal opinion is that the Trust is perhaps too divisive to be involved, and probably too disorganised to get involved.

I can't see that it would take a massive initial effort to get the ball rolling on a fan led buy out of ACL. Whether people would really put their hands in their pockets, that's a different matter.

If there was a legal guarantee that I would get my money back if the sale didn't happen, or the required sum was not reached, I would definitely do it and I'd be very proud of it.

 

[Nick]

It wouldn't make any difference. Its a logistical headache to fund the opening of it and there is no money coming into it as all our money is paid to us.

Who pays for the catering, staff, maintenance, policing, parking attendants, electricity for lighting, heating etc?

Ah yeah, guess all the existing contracts would vanish too for catering etc.

 

[HuckerbyDublinWhelan]

Waiting for the “it was SISU” line…

m that being said - do we think Sepalla will finally get the arena unencumbered

 

[Nick]

Waiting for the “it was SISU” line…

m that being said - do we think Sepalla will finally get the arena unencumbered

I still think Richardson will have some sort of play.

 

[HuckerbyDublinWhelan]

I still think Richardson will have some sort of play.

Does he have the appetite to sink 20m into repairs?

 

[Nick]

Does he have the appetite to sink 20m into repairs?

Probably not himself but maybe some sort of grant.

He just seems a bit too quiet, plus why did he add himself as a director recently?

 

[HuckerbyDublinWhelan]

Probably not himself but maybe some sort of grant.

He just seems a bit too quiet, plus why did he add himself as a director recently?

Fair point, I just don’t see how he’d get away with it.

 

[Nick]

Fair point, I just don’t see how he’d get away with it.

Oh yeah there is that, just nothing surprises me with this shite any more.

 

[HuckerbyDublinWhelan]

Oh yeah there is that, just nothing surprises me with this shite any more.

Yeah, I’m always looking at how we’ll somehow be screwed

 

[jordan210]

Up next we will have Wasps fans trying to blame the bond holders.

 

[Philosoraptor]

Which company are the sponsorship deals tied up in?

 

[Bernie Rhodes Nose]

Monorail!!! Monorail!!! Monorail!!!

 

[duffer]

Does he have the appetite to sink 20m into repairs?

Just on this £20m figure, I'm not saying you're wrong, but is there any evidence anywhere of this being a real issue?

I've only ever heard it here as a rumour, I've never seen anything vaguely official stating it. Happy to be corrected, obviously.

 

[Philosoraptor]

I guess having renaming rights for Arena, stands, rooms etc could become quite profitable.

Imagine the Coventry Building Society Arena being liquidated. It's a PR nightmare.

 

[Nick]

I guess having renaming rights for Arena, stands, rooms etc could become quite profitable.

Imagine the Coventry Building Society Arena being liquidated. It's a PR nightmare.

It would depend on the agreement for naming rights.

If it was with ACL then potentially the agreement is gone if it goes into admin?

 

[Philosoraptor]

Of course, CCC have said their main concern is for CCFC to keep playing at the Arena. If the Arena is threatened with a close-down, then they surely have to take control of the lease. Unless they're full of shit.

 

[Gynnsthetonic]

Why has Richardson been so quiet on it all, he hasn't said a thing since the rugby club went into admin

 

[fernandopartridge]

Which means the Council would get the lease back and would surely want it to keep running?

I don't think it is as straight forward as that, but even if it could happen it'd take some time. A liquidation process takes a long time.

 

[duffer]

If there was a legal guarantee that I would get my money back if the sale didn't happen, or the required sum was not reached, I would definitely do it and I'd be very proud of it.

Yep, top of my head you'd perhaps want a CIC (Community Interest Company) set-up so any assets purchased are "locked-in" and an escrow account to protect deposits.

You can tell I've been thinking about it...

 

[TomRad85]

Just on this £20m figure, I'm not saying you're wrong, but is there any evidence anywhere of this being a real issue?

I've only ever heard it here as a rumour, I've never seen anything vaguely official stating it. Happy to be corrected, obviously.

I find £20m hard to believe. Sure it needs a bit of love and it's grubby as fuck... but £20m seems a lot.

Sent from my SM-G973F using Tapatalk

 

[Nick]

Would the repairs needed show in Administrators reports or anything that are made public?

 

[rexo87]

Yep, top of my head you'd perhaps want a CIC (Community Interest Company) set-up so any assets purchased are "locked-in" and an escrow account to protect deposits.

You can tell I've been thinking about it...

Get it going Duffer!

Sent from my SM-G991B using Tapatalk