Wasps going into admin & the impact on CCFC (266 Viewers)

[Colin Steins Smile]

The prospect of bringing the club and stadium under one owner is something that we’ve discussed at length.
Interestingly, the administration report on Derby county has reported the club was sold for £17.6m and I understand that Pride Park was sold for £20-22m .
That probably gives an indication of the current values

 

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[HuckerbyDublinWhelan]

The prospect of bringing the club and stadium under one owner is something that we’ve discussed at length.
Interestingly, the administration report on Derby county has reported the club was sold for £17.6m and I understand that Pride Park was sold for £20-22m .
That probably gives an indication of the current values

Was Pride Park falling down though?

 

[Philosoraptor]

Was Pride Park falling down though?

Structural defects?

Lick of paint, everything will be fine.

 

[Colin Steins Smile]

Was Pride Park falling down though?

Pride park is older that the the CBS and doesn’t have an exhibition hall or additional land for development. In terms of the actual state of the structure of the CBS…. How accurate are those estimates?

 

[mark82]

The prospect of bringing the club and stadium under one owner is something that we’ve discussed at length.
Interestingly, the administration report on Derby county has reported the club was sold for £17.6m and I understand that Pride Park was sold for £20-22m .
That probably gives an indication of the current values

Derby were in administration though, and at the point of sale they were either already relegated or it was very likely. We are not and don't necessarily have a willing seller.

Our ground has the exhibition hall which may also add to the value of the arena.

Difficult to judge the value of either right now. Essentially the value will be what someone is willing to pay.

 

[Sky Blue Pete]

Yes I've no idea what everyone expected to have happened by now or why yesterday was meltdown day.

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Cause news broke the club were having to pay significant amounts of money to fund acl to ensure they were a going concern or they would be forced to play in another ground as efl are pressuring them to say where the next games will be

Not too hard to understand really

 

[Sky Blue Pete]

Cause news broke the club were having to pay significant amounts of money to fund acl to ensure they were a going concern or they would be forced to play in another ground as efl are pressuring them to say where the next games will be

Not too hard to understand really

But hey it’s only happening because we haven’t built a new ground apparently so there goes

 

[TomRad85]

Cause news broke the club were having to pay significant amounts of money to fund acl to ensure they were a going concern or they would be forced to play in another ground as efl are pressuring them to say where the next games will be

Not too hard to understand really

Right OK... or we could just, you know, wait and see what happens.

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[Great_Expectations]

Cause news broke the club were having to pay significant amounts of money to fund acl to ensure they were a going concern or they would be forced to play in another ground as efl are pressuring them to say where the next games will be

Not too hard to understand really

Do we think (know) it’s the club paying this, or is it SISU funded? Considering the club have no money, surely SISU are involved. Which as others have suggested, optimistically is that a sign they will be involved in the bidding process.

Still don’t fully understand why we’re paying. Appreciate it’s by no means this binary, but if whoever is in charge of ACL cannot afford it, why aren’t they already in admin. Especially when it’s a foregone conclusion that’s the way they’re heading.

 

[Tommo1993]

Right OK... or we could just, you know, wait and see what happens.

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I vote we all kick off now!

 

[Esoterica]

But hey it’s only happening because we haven’t built a new ground apparently so there goes

Made the mistake of checking the comments on Facebook to the announcement that we’re looking at other options for Tuesday. Was shocked at the percentage of people just straight up blaming SISU.

 

[TomRad85]

Do we think (know) it’s the club paying this, or is it SISU funded? Considering the club have no money, surely SISU are involved. Which as others have suggested, optimistically is that a sign they will be involved in the bidding process.

Still don’t fully understand why we’re paying. Appreciate it’s by no means this binary, but if whoever is in charge of ACL cannot afford it, why aren’t they already in admin. Especially when it’s a foregone conclusion that’s the way they’re heading.

No one knows anything, only believer might have some decent info on this and he's ghosting us.

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[SkyblueDad]

Made the mistake of checking the comments on Facebook to the announcement that we’re looking at other options for Tuesday. Was shocked at the percentage of people just straight up blaming SISU.

Well they started the ball rolling by moving from the Ricoh to Northampton, and our illustrious chairman Tim Fisher saying things like this ship has sailed, who does he represent ?

 

[GaryJones]

Surely the solution is pretty clear & straightforward. Sisu declare their interest to purchase the Arena/ACL over the weekend/Monday (after all we need our own stadium blah blah blah). Then the administrator has the offer or agreement in principle on the table which should satisfy the terms of the deadline. This should clear the way for the club to carry on as normal until the financials are sorted.
This brings the club & ground together which is what they always wanted. This is clearly a golden opportunity to finally tie everything up into one tidy package which also makes the club more attractive proposition to future buyers should Sisu decide to sell.
Also if we are allegedly paying £600,000 per year rent for 10 years that should instantly save the club owners £6million which once taken off the purchase price should represent a pretty attractive & cost effective deal.
What’s not to like?
The zillion $ question is - do Sisu have the funds or desire to do the deal?

 

[Saddlebrains]

Lets look at what we know

Someone, SISU or another has stumped up cash to get today on. Why do this if not expecting a return?

Tuesday elsewhere - silly of the club not too but reading the statement, it seems the EFL are insisting on an alternative venue due to our already full schedule from the pitch cancellations. Club haven't done it out of panic

The offices at the arena - yes its not good that they're all prepped for 'being locked out' but there has been nothing official to say this will likely be the case. Just decent contingency planning from them businesses

Previous club admins - never known of any club having to play elsewhere in admin and there's been plenty.

Silence -from all parties. Says 2 things to me, one, for once it does seem the council is trying all it can to ensure games carry on. They cannot afford to have the citys football team affected by this detrimentally after their vanity project failed and the people of the city now know how stupid it all was. Also, we know our owners. Any chance of a belittling nasty statement, public slanging match or 'its not my fault' its produced at speed. Nothing, zilch, nada. If they thought they wouldn't come out of this smelling of roses im pretty sure we would have heard off them by now


Keep the faith lads and lets be noisy bastards at 3pm

 

[higgs]

Help us believer?

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[Grendel]

Do we think (know) it’s the club paying this, or is it SISU funded? Considering the club have no money, surely SISU are involved. Which as others have suggested, optimistically is that a sign they will be involved in the bidding process.

Still don’t fully understand why we’re paying. Appreciate it’s by no means this binary, but if whoever is in charge of ACL cannot afford it, why aren’t they already in admin. Especially when it’s a foregone conclusion that’s the way they’re heading.

ACL will get some income from keeping some events going

I would assume they owe money to a lot of contractors - catering especially - who will not be convinced they are getting paid money owed so suppliers and match day providers have probably said enough is enough

 

[Nick]

How are the trust still giving statements?

 

[skyblueeyesrevisited]

How are the trust still giving statements?

Quietly 🫢

 

[robbiethemole]

Is it all mind games to put pressure on the admin to get preferential treatment for a SISU low ball bid for the stadium?
I wouldn’t be surprised at them using it as a tactic

 

[Sbarcher]

How are the trust still giving statements?

Standard police activities.

 

[robbiekeane]

With all due respect you post almost exclusively on here to belittle people who question our owners, which to be honest at a time like this I find a little crass. Our owners (and id guess you as well) could dispel the vast majority of the disquiet and rumour in one fell swoop by simply being honest about what the plans are.

To instead be making fun of fans uncertain about the future of their club seems a little off.

Obviously not going to happen whatever the plan is. Would be a bit of a naive move commercially.

To be clear I can’t wait for SISU to fuck off for a million reasons but not shouting from the rooftops about if they’re planning to buy the stadium or not is not one of them

 

[Legia Sky Blue]

ACL will get some income from keeping some events going

I would assume they owe money to a lot of contractors - catering especially - who will not be convinced they are getting paid money owed so suppliers and match day providers have probably said enough is enough

Can a match go ahead without the services of those suppliers? A match could surely go ahead without catering for example, although I appreciate it might not be ideal, particularly for those with executive seats. The absolute musts are stewards, but is there any one else whose services provided to ACL would prevent a game from taking place?,

 

[Grendel]

Can a match go ahead without the services of those suppliers? A match could surely go ahead without catering for example, although I appreciate it might not be ideal, particularly for those with executive seats. The absolute musts are stewards, but is there any one else whose services provided to ACL would prevent a game from taking place?,

Insurance I assume also lapses at the point of administration, significant lighting and heating costs

I’ve no idea on the rental arrangement on match day costs - do we pay policing? Or do ACl and we pay match day charges By separate invoicing?

I don’t see how it’s £150,000 which someone quoted

 

[Sky Blue Pete]

Right OK... or we could just, you know, wait and see what happens.

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We can discuss the information as it becomes clear too. It’s an absolute disaster as it stands for the club to fork out significant sums of money

 

[jordan210]

Not sure why people think SISU or anyone would come out publicly about trying to buy the stadium.

Would lower your negotiating power and could end up paying more due to being bid upped.

Also history should tell us not to trust anyone who goes public. Think how many people have made a song and dance about buying us and then nothing happens.

With this I think SISU/club are doing the right thing with staying quiet.

 

[Nick]

Not sure why people think SISU or anyone would come out publicly about trying to buy the stadium.

Would lower your negotiating power and could end up paying more due to being bid upped.

Also history should tell us not to trust anyone who goes public. Think how many people have made a song and dance about buying us and then nothing happens.

With this I think SISU/club are doing the right thing with staying quiet.

The thing is, it isn't just the club. People who rent offices have no clue what's going on either.

 

[Grendel]

Not sure why people think SISU or anyone would come out publicly about trying to buy the stadium.

Would lower your negotiating power and could end up paying more due to being bid upped.

Also history should tell us not to trust anyone who goes public. Think how many people have made a song and dance about buying us and then nothing happens.

With this I think SISU/club are doing the right thing with staying quiet.

They were very public when they purchased the football club

 

[Sky Blue Pete]

Made the mistake of checking the comments on Facebook to the announcement that we’re looking at other options for Tuesday. Was shocked at the percentage of people just straight up blaming SISU.

I’m happy that we should have a permanent home but this is not of our making

 

[Liquid Gold]

They were very public when they purchased the football club

It helps that the owners at the time and the council told them they were the only option being considered though.

I don’t remember them being particularly vocal, beyond stating interest, until all the other interested parties were basically told to piss off because they wanted stadium.

All of that noise could have been Ranson’s doing too.

 

[Sky Blue Pete]

Insurance I assume also lapses at the point of administration, significant lighting and heating costs

I’ve no idea on the rental arrangement on match day costs - do we pay policing? Or do ACl and we pay match day charges By separate invoicing?

I don’t see how it’s £150,000 which someone quoted

It’s not for the match it’s an amount that’s been paid for what can only be assumed to keep acl going for a bit longer

 

[theferret]

Insurance I assume also lapses at the point of administration, significant lighting and heating costs

I’ve no idea on the rental arrangement on match day costs - do we pay policing? Or do ACl and we pay match day charges By separate invoicing?

I don’t see how it’s £150,000 which someone quoted

Well it won't be 150K to cover match day costs, but it was effectively ransom money. Pay this or else. I suspect we've effectively covered this month's payroll with the 2 payments made. I don't say this as though it is fact, but it has been reported by a few people and it certainly wouldn't surprise me.

 

[TomRad85]

We can discuss the information as it becomes clear too. It’s an absolute disaster as it stands for the club to fork out significant sums of money

It's as clear as mud, it's just overreactions in here from a bunch of people who know nothing, with respect.


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[jordan210]

The thing is, it isn't just the club. People who rent offices have no clue what's going on either.

Office stuff will be messy. As the office space is rented via a letting agent.

Either a few of the offices got tipped off by someone onsite about moving stuff out. Or someone’s just going via the rumours.

 

[Sky Blue Pete]

It's as clear as mud, it's just overreactions in here from a bunch of people who know nothing, with respect.


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It’s not some know quite a bit