Wasps going into admin & the impact on CCFC (232 Viewers)

[Philosoraptor]

What would the administrator take into account when assessing bids? Would it purely be the highest bid and best return for creditors? Would they consider best for the local area and each tenant at the arena. We’re biased thinking club and ground should be united but does any other party involved care about that?

If not, I’m just thinking NEC group would have by far the most coherent business case and credible business plan. They’d know how to run the events side, be able to project cash flow based on number of events etc and have the football club as tenants. The administrators won’t care about club and ground being under same ownership I’m sure.

Meanwhile there may be other parties wanting to unite club and ground but have no experience on the events side and they will just generally be complete unknowns.

I’ve just got this awful feeling it will go to NEC, we’ll be tenants with SISU slowing trying to extract cash and then they’ll be a rent dispute in 8 years when the lease is up and we’ll be moving grounds again.

Wasps to be released from their obligation to ACL to play their home games at the Arena for 50 years could be a start.

Must be a moot point in any hope of resurrecting the London rugby club.

If they can't get out of this, then wasps are probably dead and buried.

 

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[Deleted member 5849]

Surely room in Ansty for one when Mike Ashley builds his complex?

Use the Rose & Castle for changing rooms

 

[Nick]

Wasps to be released from their obligation to ACL to play their home games at the Arena for 50 years could be a start.

Must be a moot point in any hope of resurrecting the London rugby club.

If they can't get out of this, then wasps are probably dead and buried.

What obligation?

 

[Liquid Gold]

Wasps to be released from their obligation to ACL to play their home games at the Arena for 50 years could be a start.

Must be a moot point in any hope of resurrecting the London rugby club.

If they can't get out of this, then wasps are probably dead and buried.

That obligation was most likely dissolved in admin

 

[Philosoraptor]

Must be worth at least the bondholder's debt on the stadium.

 

[Nick]

Must be worth at least the bondholder's debt on the stadium.

£35m?

I'm not sure it will be anywhere near that.

 

[The Philosopher]

That obligation was most likely dissolved in admin

It’s an interesting point.

It all depends on the wording of the lease.

Did anyone ever get a copy under a FOI request?

 

[Philosoraptor]

What obligation?

Page 53 of the prospectus.

End of 2nd paragraph.

https://www.wasps.co.uk/media/3073/wasps_prospectus2.pdf

 

[Old Warwickshire lad]

Does no one on here work!?

Steady on lad. No need to use four letter words.

 

[COVKIDSNEVERQUIT]

Dions Dublin your money casino and bar

Dublin's homes under the hammer.

 

[wingy]

I'd say £20M.
Using crude assumption of yanky buyer taking just over 50% where debt within ccfc is £30M.
Then Ashley would be looking in that region with £20M to get Sisu off and away.

 

[CCFC_Irish]

I'd say £20M.
Using crude assumption of yanky buyer taking just over 50% where debt within ccfc is £30M.
Then Ashley would be looking in that region with £20M to get Sisu off and away.

Is there a possibility that Hoffman's consortium could possibly join with Ashley for a potential takeover?

 

[djr8369]

Just wondering? Why do you think SISU would have a rent dispute after paying rent on time for 10 years? At year 10 they will either be there on an agreed package or on their way. There may be some foot stomping of course.

You’d think NEC will want to maximise revenue and would look to increase when current deal expires.

 

[djr8369]

Wasps to be released from their obligation to ACL to play their home games at the Arena for 50 years could be a start.

Must be a moot point in any hope of resurrecting the London rugby club.

If they can't get out of this, then wasps are probably dead and buried.

Would an agnostic 3rd party like the NEC have them as a tenant with only one stand open or something?

 

[djr8369]

Surely the council will be trying to protect the city's football club?

They’ve got their best man on the case, I’m sure.

 

[Skybluedownunder]

BIG ARENA NEWS

Specsavers look to be opening

COVENTRY ARENA SPECSAVERS LIMITED has just been setup

At least the ref can get some glasses before the match


Sent from my iPhone using Tapatalk

 

[Nick]

Are the nec going to want to get involved with pitch management?

 

[wingy]

Not really s

You’d think NEC will want to maximise revenue and would look to increase when current deal expires.

Not really sure with NEC .
Just feel there could be just as many conflicts around schedule's as we've just been through.

 

[robbiethemole]

So let me get this right, I go off to the gym at 10.30, I come back on here at 2.30, and still nothing has been sorted out?? WTF?? This is not acceptable from any party.

 

[Earlsdon_Skyblue1]

So let me get this right, I go off to the gym at 10.30, I come back on here at 2.30, and still nothing has been sorted out?? WTF?? This is not acceptable from any party.

You went to the gym for four hours.

Where is it, fucking Narnia?

 

[MusicDating]

So let me get this right, I go off to the gym at 10.30, I come back on here at 2.30, and still nothing has been sorted out?? WTF?? This is not acceptable from any party.

Thomas Partey Store

 

[djr8369]

Page 53 of the prospectus.

End of 2nd paragraph.

https://www.wasps.co.uk/media/3073/wasps_prospectus2.pdf

Damn, 276 pages, you can see how investors were roped in

 

[Skyblue_CP]

So let me get this right, I go off to the gym at 10.30, I come back on here at 2.30, and still nothing has been sorted out?? WTF?? This is not acceptable from any party.

if you’re in the gym that long I’ll be disappointed if you don’t look like a prime Arnold.

 

[Great_Expectations]

Finally get a break, excited to see I’ve got 12 pages to read.

Now I’m back in meetings having gained nothing other than a lot of name puns (some of which were very good).

The hold up is a positive, SISU are just trying to line it up so they can announce it on the pitch tonight live for those fans who didn’t let a bit of rain put them off attending!

 

[djr8369]

Not really s
Not really sure with NEC .
Just feel there could be just as many conflicts around schedule's as we've just been through.

I can see now why some feel they’d be the worst option. No interest in the club, we’re tenants again with none of our long green issues solved. Groundhog Day.

 

[Esoterica]

So let me get this right, I go off to the gym at 10.30, I come back on here at 2.30, and still nothing has been sorted out?? WTF?? This is not acceptable from any party.

You could have checked your phone at the gym!

 

[Evo1883]

I can see now why some feel they’d be the worst option. No interest in the club, we’re tenants again with none of our long green issues solved. Groundhog Day.

No different to now whatsoever , may aswell have wasps

 

[Alex1987]

well this is getting dull..

 

[Philosoraptor]

Would an agnostic 3rd party like the NEC have them as a tenant with only one stand open or something?

There's a licence there between ACL and wasps holdings.

In my opinion, it has a lot of value.

 

[torchomatic]

Not something I've ever done before, but I am constantly refreshing Gilbert's twitter feed.

 

[thekidfromstrettoncamp]

There waiting till tonigt will probably be announced on the pitch ,podium ,fanfare and firworks out will come Mick Ashley waving to all 4 sides allongside Joy with her Handbag stuffed with notes

 

[Evo1883]

There waiting till tonigt will probably be announced on the pitch ,podium ,fanfare and firworks out will come Mick Ashley waving to all 4 sides allongside Joy with her Handbag stuffed with notes

I know there is little chance of this happening but would be immense wouldn't it

 

[tisza]

Damn, 276 pages, you can see how investors were roped in

Bet majority never read cover to cover

 

[COVKIDSNEVERQUIT]

Finally get a break, excited to see I’ve got 12 pages to read.

Now I’m back in meetings having gained nothing other than a lot of name puns (some of which were very good).

The hold up is a positive, SISU are just trying to line it up so they can announce it on the pitch tonight live for those fans who didn’t let a bit of rain put them off attending!

With Tim Fisher making the announcement wearing a Sky Blues' shirt.

 

[hill83]

You went to the gym for four hours.

Where is it, fucking Narnia?

Narnia business m8