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Wasps going into admin & the impact on CCFC (12 Viewers)

  • Thread starter Alkhen
  • Start date Sep 21, 2022
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skybluebeduff

skybluebeduff

Well-Known Member
  • Oct 28, 2022
  • #5,846
covcity4life said:
Surely no ground breaking will be taking place?
Click to expand...

I doubt we even got as far as buying a Hi-Vis vest mate.
 
B

Brighton Sky Blue

Well-Known Member
  • Oct 28, 2022
  • #5,847
Dave Boddy getting his speech ready

not gonna lose yer job.gif
 
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shmmeee

shmmeee

Well-Known Member
  • Oct 28, 2022
  • #5,848
Colin Steins Smile said:
From my understanding of the current scenario, we have a situation whereby the stadium could be shut down whilst a new buyer is sought and matches, exhibitions and other events are stopped. The problems are related to the processes involved with liquidation, in that the governance structures connected to ACL become void. This includes operating licences, etc.
The value of football, events, etc to the economy of the City of Coventry [in it's widest sense] is significant. Each hotel room booked at the CBS and other hotels in the city, plus the secondary spend in restaurants, shops, pubs, etc is of value to our businesses.
We need some pragmatism to break out within this process and surely CCC even in their most vindictive mode can see there is value in providing a month worth of funding to keep the CBS operating whilst a new buyer is sought.
Click to expand...

Probably not the best time for Gilbert and Ridley to be hammering the council on bailing out local companies TBF.
 
Tommo1993

Tommo1993

Well-Known Member
  • Oct 28, 2022
  • #5,849
The Philosopher said:
It’s prediction time just for the sake of it and one can get mocked if one is wrong.

My take:

1) There’ll be a last minute extension attempt where there seems to be some dubious claim of progress.

2) This will fail with straightaway or soon after.

3) CCFC will play at Walsall on Tuesday either way due to uncertainty / insurance etc.

4) The temporary administration team in place now will be appointed administrators

5) The administrators will have no money to juggle or pay lawyers with, without some funds from bondholders or others.

6) Council will be put under pressure to revert lease with advocates pointing to the Butts precedent.

7) SISU will put huge legal pressure on Council and Administrator. Administrators will be very aware that they could be challenged and will tread carefully.

8) SISU will end up with the head lease in exchange for taking up liability for CBS repairs and for taking over TUPE liability for ACL employees and subleases to job centre etc etc. this will be touted as “taking up liabilities of £25m” or some such. SISU will capitalise this in their CCFC portfolio. SISU will pay administrators costs for doing this. 2-3m I guess.

I hope I’m totally wrong.
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Think 3 is wrong. Even though I think it’s a safe assumption that not all of the fans expected to attend will actually attend - it’d be stupid to play at a ground will less capacity than tickets sold!
 
AOM

AOM

Well-Known Member
  • Oct 28, 2022
  • #5,850
Brighton Sky Blue said:
Dave Boddy getting his speech ready

View attachment 26844
Click to expand...


e2ee2919-2056-4cec-ae79-6cfa64bf07c9_text.gif
 
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shmmeee

shmmeee

Well-Known Member
  • Oct 28, 2022
  • #5,851
Sky Blue Pete said:
You are putting the blame on the club for not having a new stadium!!! Red herring and distraction. Stop it
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Its not is it mate? It’s core to the whole issue. If they’d actually built the ground they said this wouldn’t be an issue. Instead they pursued a strategy of waiting for Wasps to go bankrupt: well here we are. But rich to moan about it now.
 
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S

Specs WT-R75

Well-Known Member
  • Oct 28, 2022
  • #5,852
Senior Vick from Alicante said:
How could they sue if its within their legal right? They would just be makjng sure there freehold asset was operational wouldnt they?
Click to expand...

The highlighted part is indeed the key part. The council will be within their rights to take the lease back as a last resort only.
 
T

thekidfromstrettoncamp

Well-Known Member
  • Oct 28, 2022
  • #5,853
Cityandproud87 said:
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.
Click to expand...
I see the super fans are back on again
 
B

Brighton Sky Blue

Well-Known Member
  • Oct 28, 2022
  • #5,854
thekidfromstrettoncamp said:
I see the super fans are back on again
Click to expand...

 

Evo1883

Well-Known Member
  • Oct 28, 2022
  • #5,855
Why the sudden panic on here ? Nothings different atm
 
Reactions: TomRad85

Bad Boy

Well-Known Member
  • Oct 28, 2022
  • #5,856
I never go, home or away but I do ring up BBC CWR after the final whistle and tell it how it is and oh by the way I don't live in Coventry.
I'm the best fan ever and my word is law.
 
Reactions: Lofty, Ian1779, duffer and 2 others

Colin Steins Smile

Well-Known Member
  • Oct 28, 2022
  • #5,857
bad boy said:
I never go, home or away but I do ring up BBC CWR after the final whistle and tell it how it is and oh by the way I don't live in Coventry.
I'm the best fan ever and my word is law.
Click to expand...
You must be Brummie "Nick"
 
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MAFF

Well-Known Member
  • Oct 28, 2022
  • #5,858
thekidfromstrettoncamp said:
I see the super fans are back on again
Click to expand...
Everyone that has less than 1000 loyalty points is a Northampton scab. Sorry I don’t make the rules.
 
Reactions: duffer, RegTheDonk and Evo1883

Cityandproud87

Well-Known Member
  • Oct 28, 2022
  • #5,859
bad boy said:
I never go, home or away but I do ring up BBC CWR after the final whistle and tell it how it is and oh by the way I don't live in Coventry.
I'm the best fan ever and my word is law.
Click to expand...

@PVA alt account?
 

Cityandproud87

Well-Known Member
  • Oct 28, 2022
  • #5,860
IMissMAF said:
Everyone that has less than 1000 loyalty points is a Northampton scab. Sorry I don’t make the rules.
Click to expand...

 
R

rexo87

Well-Known Member
  • Oct 28, 2022
  • #5,861
No idea if he has any inside info but interesting take nonetheless

Sent from my SM-G991B using Tapatalk
 
S

Specs WT-R75

Well-Known Member
  • Oct 28, 2022
  • #5,862
Cityandproud87 said:
If Sisu bought the stadium, what’s to say they wouldn’t milk us for rent?
Click to expand...

mark82 said:
But they own CCFC, so ultimately would be no benefit in doing it.
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1000% we would be charged rent - how else would the costs of stadium ownership be funded. If Sisu determined that ownership of the stadium and 100% of all the would add 3m a year to revenues then they could afford to double rent payments... that rent could be securitised to provide the funding to purchase.... or maybe we could sell some bonds (too soon!?)

In all seriousness though an Property Company for the stadium is a given, and a rental payment to that company gives that company "value" that can be mortgaged etc. So long as the company belongs to the same group then no concerns...
 

Sky Blue Harry H

Well-Known Member
  • Oct 28, 2022
  • #5,863
Whatever is happening - be good to see a good turn out tomorrow to remind all of the City support. Come on you 'casuals'
 
Reactions: Sky Blue Pete

alexccfc99

Well-Known Member
  • Oct 28, 2022
  • #5,864
So many people being duped into thinking Wasps were good for us because of all this
 
Reactions: Sick Boy, HuckerbyDublinWhelan and theferret

Grendel

Well-Known Member
  • Oct 28, 2022
  • #5,865
Brighton Sky Blue said:
If that's the case why no offers?
Click to expand...

Well that’s probably the problem isn’t it
 

shmmeee

Well-Known Member
  • Oct 28, 2022
  • #5,866
rexo87 said:
No idea if he has any inside info but interesting take nonetheless

Sent from my SM-G991B using Tapatalk
Click to expand...

That was word for word posted in this thread.
 
Reactions: robbiekeane, skybluepm2 and Brighton Sky Blue

Grendel

Well-Known Member
  • Oct 28, 2022
  • #5,867
shmmeee said:
That was word for word posted in this thread.
Click to expand...

He also likes 7 foot 10 footballers from Solihull
 
Reactions: shmmeee, skybluepm2 and Brighton Sky Blue

MAFF

Well-Known Member
  • Oct 28, 2022
  • #5,868
No matter what happens at least Wasps are fucked.

Cunts.
 
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ceetee

Well-Known Member
  • Oct 28, 2022
  • #5,869
I still think Richardson will somehow get it all back free of debt
 

Cityandproud87

Well-Known Member
  • Oct 28, 2022
  • #5,870
shmmeee said:
That was word for word posted in this thread.
Click to expand...

I pictured him as being older. 20k followers as well fair play
 
R

rexo87

Well-Known Member
  • Oct 28, 2022
  • #5,871
ceetee said:
I still think Richardson will somehow get it all back free of debt
Click to expand...
Why would he want it? There's now no rugby club essentially. No players and no P Share

Sent from my SM-G991B using Tapatalk
 

Grendel

Well-Known Member
  • Oct 28, 2022
  • #5,872
rexo87 said:
Why would he want it? There's now no rugby club essentially. No players and no P Share

Sent from my SM-G991B using Tapatalk
Click to expand...

I think Derek has fell out of love with Rugby
 
Reactions: Brylowes

ceetee

Well-Known Member
  • Oct 28, 2022
  • #5,873
rexo87 said:
Why would he want it? There's now no rugby club essentially. No players and no P Share

Sent from my SM-G991B using Tapatalk
Click to expand...
Without the bond to repay and the other debts wiped out I would imagine the stadium complex can be run profitably, and he's in the best position to know that and agree a pre-pack
 

Sky Blue Harry H

Well-Known Member
  • Oct 28, 2022
  • #5,874
rexo87 said:
Why would he want it? There's now no rugby club essentially. No players and no P Share

Sent from my SM-G991B using Tapatalk
Click to expand...
 
B

Brighton Sky Blue

Well-Known Member
  • Oct 28, 2022
  • #5,875
Sky Blue Harry H said:
View attachment 26848
Click to expand...

Looks like the summer transfer budget
 
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Matt smith

Well-Known Member
  • Oct 28, 2022
  • #5,876
Can’t believe we’ll actually have to move again
 
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Evo1883

Well-Known Member
  • Oct 28, 2022
  • #5,877
Matt smith said:
Can’t believe we’ll actually have to move again
Click to expand...

We won't
 
Reactions: ccfcrob
T

thekidfromstrettoncamp

Well-Known Member
  • Oct 28, 2022
  • #5,878
Cityandproud87 said:
Thanks for passing on your info mate, will book the train tickets now
Click to expand...
You will be too late Otis will have all of them.
 
Reactions: robbiekeane, Somerset Sky Blue, robbiethemole and 2 others

Otis

Well-Known Member
  • Oct 28, 2022
  • #5,879
thekidfromstrettoncamp said:
You will be too late Otis will have all of them.
Click to expand...
Oi. I just checked my bookings and I only have 15 tickets booked at the moment, so still plenty left.
 
Reactions: Somerset Sky Blue and duffer

Nick

Administrator
  • Oct 28, 2022
  • #5,880
ceetee said:
I still think Richardson will somehow get it all back free of debt
Click to expand...
That would literally be criminal
 
Reactions: robbiethemole, Sick Boy, TomRad85 and 1 other person
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