Wasps going into admin & the impact on CCFC (69 Viewers)

[Bugsy]

did someone say investors....

 

---

[SkyBlueSam01]

CCFC playing Blackburn at the CBS tomorrow. They do seem to have gone to a lot of trouble though having someone camped out at the CBS. It’s almost as if a bigger story is about to break.

Please stop my little heart can't take it

 

[wingy]

We really should have kept the sticky threads of Godiva and OSB re the history of all this .
Anyway to pull them from the server?
Too much confusion at just what happened at the start

 

[The Philosopher]

Didn't they find another 100m of Newcastle debt after Ashley had bought them? Hadn't done his due diligence.

I read that. Perfect fit for SISU / Wasps.

 

[Liquid Gold]

Obviously it’s a good result because we get the stadium and new ownership but I don’t really want sisu sitting there just taking money out.

Was going to say can’t complain really but I already am.

 

[tisza]

Where do we start:
- Hired his mates for top jobs at the club
- Club was subject of a 4-year HMRC investigation
- Lied about the money managers had available to spend
- Lied to fans: “The club admitted to the tribunal that it repeatedly and intentionally misled the press, public and the fans of Newcastle United.”
- Completely neglected SJP
- Raised ticket prices by 20%
- Doubled club debt
- Newcastle were the 13th most valuable club in football when he took over, ahead of Spurs and Dortmund.

Cleared by HMRC.
SJP had just had a complete refurbishment when he bought it -one of the reasons for their debt.
20% increase probably one of the smallest in PL in that period.
Took on the club debt himself (the amount of which which had not been fully revealed when he took over)
He stabilised a club that have a long history of financial problems - nearly went out of business at one stage.

 

[wingy]

Need a small crowd,Jon Dahl Tomasson thinks the fans deserve a free pint

 

[rexo87]

Gilberts been pretty quiet today on a day that you'd expect him to be all over it. Does feel as if there's maybe something big happening and no one is allowed to comment yet

 

[HuckerbyDublinWhelan]

Gilberts been pretty quiet today on a day that you'd expect him to be all over it. Does feel as if there's maybe something big happening and no one is allowed to comment yet

Yeah council have suppressed him…. Pre-pack liquidation

ACL going bust, Wasps taking out a new debt free lease with the council…

let’s face it were all expecting it

 

[Skyblue_CP]

We’re all gonna be sat on here still non the wiser at 10pm tonight aren’t we.. Transfer window closes at 11.

 

[The Philosopher]

Even if it's completely fictional, it is at least plausible. I'd be happy with that as an outcome, personally speaking.

It is plausible.

As said, SISU have the ability to influence the Arena sale be it with court action or moving away if they aren’t part of the deal.

That they’ve got a patsy to facilitate makes sense, the 49% thing is the only bit I can’t fathom.

However, it is a very plausible outcome. It’s whether it’s pre or post-admin (as a conditional pre-pack). I’m guessing the latter.

 

[jordan210]

 

[wingy]

Boddy will not fit this model of operation .
Would assume quite a change to commercial operation.

 

[Nick]

Do I listen to cwr on my way home?

 

[HuckerbyDublinWhelan]

It is plausible.

As said, SISU have the ability to influence the Arena sale be it with court action or moving away if they aren’t part of the deal.

That they’ve got a patsy to facilitate makes sense, the 49% thing is the only bit I can’t fathom.

However, it is a very plausible outcome. It’s whether it’s pre or post-admin (as a conditional pre-pack). I’m guessing the latter.

I suppose it’s someone they know, I’d imagine instead of paying the debt - they have control and 49% retains a stake if the club gets promoted they can be bought out

 

[The Philosopher]

Kind of related:

Link to the forum of The Wasp Bondholders.

They may get some inside Intel as things progress.

ADVFN

uk.advfn.com

 

[Nick]

Gilbert just suggested that bidders may join forces.

 

[Brighton Sky Blue]

Calling MR ONYE IGWE back to reception, you've left your car keys on the front desk. That's MR ONYE IGWE back to reception please.

 

[rexo87]

Gilbert just suggested that bidders may join forces.

cant see that

 

[olderskyblue]

Even if it's completely fictional, it is at least plausible. I'd be happy with that as an outcome, personally speaking.

tbf, saddle hasnt the brains to make something like this up...

 

[fernandopartridge]

We'll incorporate Swindon

 

[Saddlebrains]

Only kind of update today is Ashley is 100% still in the game and he would be stadium + club

Wasps takeover means fuck all, they wont get a sniff of the stadium . Apparently

 

[AFCCOVENTRY]

Nearly 5pm and the CBS isn’t in administration yet? Who’s purchased the arena?

 

[SkyBlueSam01]

Can't imagine any updates after 5pm?

 

[Brighton Sky Blue]

Only kind of update today is Ashley is 100% still in the game and he would be stadium + club

Wasps takeover means fuck all, they wont get a sniff of the stadium . Apparently

It's all coming to that drinking contest between him and Seppalla

 

[duffer]

It is plausible.

As said, SISU have the ability to influence the Arena sale be it with court action or moving away if they aren’t part of the deal.

That they’ve got a patsy to facilitate makes sense, the 49% thing is the only bit I can’t fathom.

However, it is a very plausible outcome. It’s whether it’s pre or post-admin (as a conditional pre-pack). I’m guessing the latter.

49% lets them suckle at the teat of the Prem, in the unlikely event that we ever get there.

In essence, it gives them access to the profit but gets them out of the way of whoever actually is throwing money at it. Probably suits both parties, and the Council too if they're still trying to stick their oar in.

Is it too much to hope for, probably, but I wish I hadn't bought that house near the Uni to be nearer the new ground now.

 

[alexccfc99]

I say - Joy, McEvoy and Ashley do kick it for a ticket at half time tomorrow, winner gets the ground

 

[wingy]

Kind of related:

Link to the forum of The Wasp Bondholders.

They may get some inside Intel as things progress.

ADVFN

uk.advfn.com

Did I read that right

Have they lost the right to the p shares due the take over of Wasps.

Anyway whoever gets it how much?

 

[The Philosopher]

Only kind of update today is Ashley is 100% still in the game and he would be stadium + club

Wasps takeover means fuck all, they wont get a sniff of the stadium . Apparently

Don’t know what I’d prefer, new Americans or Ashley.

I think the latter, just because, last Americans, SISU, and they’d still be here.

 

[AOM]

We'll incorporate Swindon

It's the end of the transfer window and spirits are in the sky

 

[The Philosopher]

Did I read that right

Have they lost the right to the p shares due the take over of Wasps.

Anyway whoever gets it how much?

I read it like you did, which is why I thought somehow whoever gets the stadium might want both Wasps and CCFC because P share etc.

Bottom line: haven’t the foggiest

 

[Great_Expectations]

In the proposed scenario, who is actually responsible for funding the club?

Great news club and CBS will be linked, but definitely going to be interesting to see how roles and responsibilities are finalised.

Surely it’s good for the club, but I’m hoping it means more than just the club is the club and it’s expected to fund itself without investment from above?

 

[Evo1883]

Only kind of update today is Ashley is 100% still in the game and he would be stadium + club

Wasps takeover means fuck all, they wont get a sniff of the stadium . Apparently

Saddle the American investor , would they be our new owner or sisu still ? Can't work out what uou meant

 

[MAFF]

:/

 

[jordan210]

Odd considering the deadline was today. Website is still up and nothing on caseboard. all very odd