Wasps going into admin & the impact on CCFC (201 Viewers)

[SHUNT31]

I go to every game home and away. I’m afraid that makes my opinion far more valid than yours.

Bit weird that you and the other sisu lover @Liquid Gold don’t live in Coventry. Says it all.

Your opinion is not more valid than anyone else’s in this forum or our fan base, unless they’re a Wasps fan.

 

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[Grendel]

You’re clearly a troll.

I want CCFC to succeed and have ownership of the arena.

I’m just not ignorant like most that can’t see past SISU this and SISU that.

Well if they want ownership they can buy it can’t they?

 

[Nick]

Yes clearly as I’m from Coventry and attend every game, unlike your sisu squad

Can you pair PM each other for your flirting?

 

[Cityandproud87]

Your opinion is not more valid than anyone else’s in this forum or our fan base, unless they’re a Wasps fan.

It’s far more valid and mark robins would tell you the same as I’m the one roaring the players on every game. If you cared to read the other threads you would know I have sources within the club.

 

[Nick]

Well if they want ownership they can buy it can’t they?

Well yeah, this is really their big test as soon as it falls into admin.

Either that or sell the club to somebody who will also take the stadium on.

 

[chiefdave]

Can we opt for Kingpower this time please.
No conflict of fixture's?

Complete guess on my part but I would imagine the first choice will be to flip the Blackburn, Wigan and QPR games to away games if at all possible.

 

[SHUNT31]

Yes clearly as I’m from Coventry and attend every game, unlike your sisu squad

I’m from Coventry too? Again, no relevance. But I’m the one who’s stupid?

 

[Cityandproud87]

Can you pair PM each other for your flirting?

Sorry shouldn’t have got drawn into it. Will stop now as it’s ruining the thread

 

[oldfiver]

How long realistically should / could the club fund ACL again? I am not sure it would be enough to keep ACL from going into Administration.

Does the money class as a loan, pre payment etc?

Rent!

 

[theferret]

Lets for a minute assume that when we signed that 10 year lease and announced the UoW stadium plan that the club was serious. Imagine that work started immediately, it wouldn't be open now so how would we be any better off? Its a complete red herring in this situation.

We have a 10 year lease, which you have to assume was agreed as acceptable by the EFL, and with many years remaining there's now the possibility we won't be able to play games. Don't really see how you can put the blame for that on the club.

You can of course argue that there's zero chance of a new stadium, and I doubt many would challenge that, you can argue that a lease longer than 10 years is needed but even if we had a 100 year lease what would be different today?

Nailed it. Some people are being incredibly disingenuous. It is a complete red-herring.

 

[SHUNT31]

It’s far more valid and mark robins would tell you the same as I’m the one roaring the players on every game. If you cared to read the other threads you would know I have sources within the club.

Now I’m convinced you are a troll.

Fuck off you virgin.

 

[Grendel]

Well yeah, this is really their big test as soon as it falls into admin.

Either that or sell the club to somebody who will also take the stadium on.

they don’t need to wait till admin they bought us in a pre pack effectively

 

[SHUNT31]

Well if they want ownership they can buy it can’t they?

Who’s to say they’re not?

 

[Tommo1993]

SISU taking ownership, or selling to someone who will, really seems like the only option for the club to survive.

Own, ground hop, or bust. The second will lead to the third anyway. Feel cornered.

 

[Senior Vick from Alicante]

Exactly, how long can the club afford to chuck £150k per game?

Although Duggins was saying he wanted whoever was taking over to fund in the short term, however I am not sure why SISU would fund to keep them out of admin but be waiting for them to go into admin.

Perhaps they are the preferrdd buyer of the liquidated lease and the payments would be deducted from the cost of a new lease. Council gets money and games get put on. Just a theory?

 

[oldfiver]

Pre administration oftentimes a bank or whoever who holds a debentures will appoint a “consultant” that acts a pre-administrator. Essentially they usurp the directors and control them on behalf of the debenture holder. They charge administrative rates ie north of £500/h. As I said, a racket.

I don’t know who has a debenture over ACL (might be a bank) but my shout is that it will be them calling the shots.

Bond Holders who are controlled by WASP appointed Trustee

Compass

And Moonstone

 

[wingy]

Lets for a minute assume that when we signed that 10 year lease and announced the UoW stadium plan that the club was serious. Imagine that work started immediately, it wouldn't be open now so how would we be any better off? Its a complete red herring in this situation.

We have a 10 year lease, which you have to assume was agreed as acceptable by the EFL, and with many years remaining there's now the possibility we won't be able to play games. Don't really see how you can put the blame for that on the club.

You can of course argue that there's zero chance of a new stadium, and I doubt many would challenge that, you can argue that a lease longer than 10 years is needed but even if we had a 100 year lease what would be different today?

Guess it depends whether anyone has a long enough memory to refer back to the candyfloss drawings from about seven years ago l.

 

[Philosoraptor]

I wonder how much ACL be worth without a tenant for the Arena.

 

[Cityandproud87]

If Sisu bought the stadium, what’s to say they wouldn’t milk us for rent?

 

[The Philosopher]

Exactly, how long can the club afford to chuck £150k per game?

Although Duggins was saying he wanted whoever was taking over to fund in the short term, however I am not sure why SISU would fund to keep them out of admin but be waiting for them to go into admin.

It’s a pain threshold figure.

How long could the club afford not to?

If SISU / CCFC didn’t pay it would cost probably more to put a game on elsewhere or suffer EFL penalty (of more or a higher risk of relegation which would cost millions)

It’s whoever is pulling the strings squeezing the last toothpaste out of the tube IMO.

 

[oldfiver]

Nailed it. Some people are being incredibly disingenuous. It is a complete red-herring.

The here and now is there is still a lease with an alleged trading company

 

[The Philosopher]

If Sisu bought the stadium, what’s to say they wouldn’t milk us for rent?

They’d be milking themselves unless they sold CCFC to someone else and charged rent.

 

[Cityandproud87]

They’d be milking themselves unless they sold CCFC to someone else and charged rent.

CCFC and Sisu are not the same

 

[Brighton Sky Blue]

Considering he's used High School Musical as a profile pic it shouldn't be hard to work out who the 'troll' is

 

[mark82]

Having dealt recently with some administrators for clients I do know that for them to conduct the administration they require a large payment upfront to do anything. Is that what the notice to bondholders is really about not marketing?

It won't be a small sum either. The one I dealt with recently charged £100 per hour for a clerical assistant to file papers! Partners time north of £500 ph

On that basis the acl group administration let alone the wasps group one is likely to be very numbers.

I think that none of the interested parties want to see the doors shut Monday ( ccfc, ccc, acl, delaware etc) and are working together but perhaps the problem is who is prepared or able to pay the administration costs ? Would they ever get that money back? Have they got the funds to do it ? How much control of the process would it give them ?

Given the council own the freehold, do they have any additional rights in this (i.e. can they insist on access for CCFC)?

 

[Philosoraptor]

Does anyone know if the head-lease has already been transferred back to the council?

 

[mark82]

CCFC and Sisu are not the same

But they own CCFC, so ultimately would be no benefit in doing it.

 

[TomRad85]

How is it trolling? They’ve gone on about a new stadium for over half a decade. Where is it?

So your hot take is that you never believed SISU were going to build a new stadium?

Sent from my SM-G973F using Tapatalk

 

[The Philosopher]

Lets for a minute assume that when we signed that 10 year lease and announced the UoW stadium plan that the club was serious. Imagine that work started immediately, it wouldn't be open now so how would we be any better off? Its a complete red herring in this situation.

We have a 10 year lease, which you have to assume was agreed as acceptable by the EFL, and with many years remaining there's now the possibility we won't be able to play games. Don't really see how you can put the blame for that on the club.

You can of course argue that there's zero chance of a new stadium, and I doubt many would challenge that, you can argue that a lease longer than 10 years is needed but even if we had a 100 year lease what would be different today?

I’m sure that at some point SISU could see / smell that Wasps were going to have a problem.

I did find it strange that SISU totally gave up every legal challenge and happily signed a 10 year lease. Have in mind that this was after the start of the pandemic and the whole landscape was changing. I’d suggest that someone on the SISU camp had forecast through things and realised that Wasps were in trouble and would of course wanted the CCFC rent income to give breathing space.

This has been a chess game for SISU. Don’t write them off.

 

[Cityandproud87]

So your hot take is that you never believed SISU were going to build a new stadium?

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My sources tell me they have no interest in building one. Maybe bullshit have to wait and see

 

[The Philosopher]

So your hot take is that you never believed SISU were going to build a new stadium?

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I think they were / might do but things change, doors open, doors close. Atm if the CBS can be secured then I guess that’s the aim.

 

[TomRad85]

My sources tell me they have no interest in building one. Maybe bullshit have to wait and see

I'm now completely unsure if you're trolling which makes it a very good troll. Fair play.

Sent from my SM-G973F using Tapatalk

 

[Brighton Sky Blue]

I’m sure that at some point SISU could see / smell that Wasps were going to have a problem.

I did find it strange that SISU totally gave up every legal challenge and happily signed a 10 year lease. Have in mind that this was after the start of the pandemic and the whole landscape was changing. I’d suggest that someone on the SISU camp had forecast through things and realised that Wasps were in trouble and would of course wanted the CCFC rent income to give breathing space.

This has been a chess game for SISU. Don’t write them off.

Waiting for ACL's debt to be wiped before making a move, like anyone else. However if it is true that the football club has provided money for games to go ahead, it'll have only come from one place in reality. And you doubt that SISU would do that for generosity's sake.

 

[Sky Blue Harry H]

Re: administrator's costs, I remember DCFC fans getting really irked over the costs racked up by their administrators to no great effect.

 

[wingy]

It’s a pain threshold figure.

How long could the club afford not to?

If SISU / CCFC didn’t pay it would cost probably more to put a game on elsewhere or suffer EFL penalty (of more or a higher risk of relegation which would cost millions)

It’s whoever is pulling the strings squeezing the last toothpaste out of the tube IMO.

The trouble is that figure seems to represent about 3 timed the normal.
Like we're not funding just the match.
We'd need to be expecting something for it to justify it.