Wasps going into admin & the impact on CCFC (144 Viewers)

[oldfiver]

Is that per match though or annually which would be about £600k which I always thought it was and sometimes there are police free games, didn’t see very many old bill in the ground v Sheffield United which I’d assume would command a good few cops compared to tonights or even Wigan Saturday.

That was their match day price after Derby

Now that is an absolutely fair point, but then we're endlessly told that ACL is a viable business.

If it was completely clear of debt does that make the difference?

If CCC step in to buy back stadium and include WASPs as a tenant. Then what are thoughts?

 

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[oldfiver]

I think if police are asked for inside the stadium WMP decide the numbers.

SAG involved too!!

 

[Bad Boy]

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?

No thanks, just want them gone from Coventry.

 

[Brighton Sky Blue]

Now that is an absolutely fair point, but then we're endlessly told that ACL is a viable business.

If it was completely clear of debt does that make the difference?

It would make a difference, but the problem is we’d need more than enthusiastic volunteers to not eventually run into trouble.

 

[SkyblueDad]

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?

Have you read the statements from CCC they have no intention of buying the stadium, also currently Wasps don’t exist.

 

[Gynnsthetonic]

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?

How will they afford it (Wasp) it doesn't pay for them to stay

 

[oldfiver]

Have you read the statements from CCC they have no intention of buying the stadium, also currently Wasps don’t exist.

I have but to quote Reeves "things change"

 

[duffer]

It would make a difference, but the problem is we’d need more than enthusiastic volunteers to not eventually run into trouble.

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]

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.

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

 

[MalcSB]

CCC don’t need to buy the stadium, they already own the freehold. If there are no buyers of the leasehold, they will be left with it.

 

[Flying Fokker]

I have but to quote Reeves "things change"

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.

 

[OyJimmy]

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

 

[Samo]

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

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]

I'd want a legally binding agreement already in place to buy CCFC from SISU at a set price before I bought the stadium.

Not if they also have designs on it

 

[MalcSB]

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.

But can put millions into a waste management company.

 

[usskyblue]

@Grendel Do you reckon it’s likely that SISU ideally want the stadium not to sell, so they can ‘save the Council’ being lumbered with the it and offer a ridiculously lowarse amount?

 

[SkyblueDad]

@Grendel Do you reckon it’s likely that SISU ideally want the stadium not to sell, so they can ‘save the Council’ being lumbered with the it and offer a ridiculously lowarse amount?

No

 

[rexo87]

He's a man of very few words but FWIW

Sent from my SM-G991B using Tapatalk

 

[Terry Gibson's perm]

What cash will be generated?

Do they get a cut of nothing that goes on there?

 

[Philosoraptor]

Do they get a cut of nothing that goes on there?

Nobody is asking the important questions.

How close is the Arena to running out of a supply of Beer?

 

[CCFC54321]

CCC don’t need to buy the stadium, they already own the freehold. If there are no buyers of the leasehold, they will be left with it.

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]

Nobody is asking the important questions.

How close is the Arena to running out of a supply of Beer?

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]

You joke but they ran out of Madri in the lounges last night. Only remaining draught lager is a flat and disgusting Amstel.

Where is this place you call Lounges?

 

[Philosoraptor]

You joke but they ran out of Madri in the lounges last night. Only remaining draught lager is a flat and disgusting Amstel.

#BeerWatch

 

[jordan210]

So today is day 7.

would guess ACL companies will try and file for a new NOI in the comming days.

 

[olderskyblue]

Where is this place you call Lounges?

Don’t tell him Pike…..

 

[Nick]

Loving that Wasps fans are annoyed their ex-players are signing for teams and they keep going on about "salary caps".

 

[jordan210]

Loving that Wasps fans are annoyed their ex-players are signing for teams and they keep going on about "salary caps".

Rugby family…..

 

[MalcSB]

So today is day 7.

would guess ACL companies will try and file for a new NOI in the comming days.

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]

He's a man of very few words but FWIW

Sent from my SM-G991B using Tapatalk

 

[jordan210]

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”.

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]

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.

Milking the cow until it dries up.

 

[oldskyblue58]

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.

 

[coop]

When is the Heineken bar going to reopen closed last night in North stand

 

[MalcSB]

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.

Agreed. Given that the non sports businesses are apparently profitable, you would have thought they could self fund a Rightmove Ad.