That was their match day price after Derby
If CCC step in to buy back stadium and include WASPs as a tenant. Then what are thoughts?
Wasps going into admin & the impact on CCFC (3 Viewers)
- Thread starter Alkhen
- Start date
- Status
That was their match day price after Derby
If CCC step in to buy back stadium and include WASPs as a tenant. Then what are thoughts?
SAG involved too!!
Bad Boy
Well-Known Member
No thanks, just want them gone from Coventry.
Brighton Sky Blue
Well-Known Member
It would make a difference, but the problem is we’d need more than enthusiastic volunteers to not eventually run into trouble.
slowpoke
Well-Known Member
Have you read the statements from CCC they have no intention of buying the stadium, also currently Wasps don’t exist.
Gynnsthetonic
Well-Known Member
How will they afford it (Wasp) it doesn't pay for them to stay
I have but to quote Reeves "things change"
duffer
Well-Known Member
I don't think you rely on volunteers at all. If it's a viable business as claimed, then you let it run as one, if it isn't then you get someone in who can make a go of it.
Brighton Sky Blue
Well-Known Member
Wasps tried that for 8 years and failed spectacularly. I’m not at all opposed to your idea by the way, but it’s an awful lot of money to commit
Flying Fokker
Well-Known Member
The Council,is in no position to run the stadium. They do not have the expertise or have the inclination to buy it in. Plus they have a big budget deficit.
If anyone was looking to buy CCFC, Wasps or ACL they’d want to buy the stadium first. Without that the other two constantly face challenges. If you gained control of ACL, logically you’d see if you could get Wasps on the cheap because you’d want a tenant.
SISU won’t let Cov go on the cheap, which frankly is a major problem for us…..as we could be back to square one. Unless SISU want to be frozen out they should be looking to either acquire ACL or Wasps or swap out equity
SISU won’t let Cov go on the cheap, which frankly is a major problem for us…..as we could be back to square one. Unless SISU want to be frozen out they should be looking to either acquire ACL or Wasps or swap out equity
Samo
Well-Known Member
I'd want a legally binding agreement already in place to buy CCFC from SISU at a set price before I bought the stadium.
Brighton Sky Blue
Well-Known Member
Not if they also have designs on it
MalcSB
Well-Known Member
But can put millions into a waste management company.
slowpoke
Well-Known Member
Terry Gibson's perm
Well-Known Member
Philosoraptor
Well-Known Member
Nobody is asking the important questions.
How close is the Arena to running out of a supply of Beer?
Said before, I don’t think there will be many takers for it.
All bluff and smoking out other parties with suggestions of Ashley and the NEC interested.
It doesn’t make enough money and there’s a repair bill around it to start with to pay out the going rate or near to it.
Can see this sale dragging on for months.
SBAndy
Well-Known Member
You joke but they ran out of Madri in the lounges last night. Only remaining draught lager is a flat and disgusting Amstel.
Flying Fokker
Well-Known Member
Where is this place you call Lounges?
Philosoraptor
Well-Known Member
#BeerWatch
olderskyblue
Well-Known Member
Don’t tell him Pike…..
jordan210
Well-Known Member
Rugby family…..
MalcSB
Well-Known Member
It’s day 8 (out of 10 working days) and administrators are threatening liquidation, not administration, if bondholders don’t fund marketing costs “In short order”.
AOM
Well-Known Member
jordan210
Well-Known Member
Threat is the word. Surely there is money comming in that could pay for the markerting.
What about the rent for office space plus hotel,casino and us.
For example this: Ten-year lease signed by exam provider at the Coventry Building Society Arena | TheBusinessDesk.com
The more you dig in to things it get weirder something doesn’t add up.
Philosoraptor
Well-Known Member
Milking the cow until it dries up.
oldskyblue58
CCFC Finance Director
Following that news yesterday, clearly any buyer has pulled out. I think the statement key bit is "will enter immediate liquidation" thats not the same as administration at all
How does this scenario sound.
ACL goes in to liquidation this week
All contracts leases etc I believe would therefore cease.
The stadium reverts to the freeholder CCC immediately because acl no longer exists and both leases broken.
CCC provides a long lease to a third party operator for a "small" premium. Councils don't usually sell freeholds especially high profile ones
Deal done regarding dilapidation cost.
New owner short term uses the current sub lease terms to retain income from tenants whilst negotiating new leases. To give some certainly to ccfc, g casino etc.
Delaware North continue at least in short term to staff the complex paid by the new owner or CCC whilst everything is fully worked out. So stadium can still be operational.
Ccfc continue to play there using current terms whilst new lease or licence put in place.
Rather than lock the doors ccfc games continue. Because stadium owned temporarily by CCC
Stadium gets a new start with current debts and liabilities removed by the liquidation. Which gives it a chance of success without the historic baggage, and the company set up much simpler.
I do believe there is a business there to have and be successful but
- it has to be without the old baggage
- and it has to be run and owned by a commercial entity that knows how to run stadiums and events.
How does this scenario sound.
ACL goes in to liquidation this week
All contracts leases etc I believe would therefore cease.
The stadium reverts to the freeholder CCC immediately because acl no longer exists and both leases broken.
CCC provides a long lease to a third party operator for a "small" premium. Councils don't usually sell freeholds especially high profile ones
Deal done regarding dilapidation cost.
New owner short term uses the current sub lease terms to retain income from tenants whilst negotiating new leases. To give some certainly to ccfc, g casino etc.
Delaware North continue at least in short term to staff the complex paid by the new owner or CCC whilst everything is fully worked out. So stadium can still be operational.
Ccfc continue to play there using current terms whilst new lease or licence put in place.
Rather than lock the doors ccfc games continue. Because stadium owned temporarily by CCC
Stadium gets a new start with current debts and liabilities removed by the liquidation. Which gives it a chance of success without the historic baggage, and the company set up much simpler.
I do believe there is a business there to have and be successful but
- it has to be without the old baggage
- and it has to be run and owned by a commercial entity that knows how to run stadiums and events.
MalcSB
Well-Known Member
Agreed. Given that the non sports businesses are apparently profitable, you would have thought they could self fund a Rightmove Ad.
- Status