HuckerbyDublinWhelan
Well-Known Member
I’d also hazard a guess if an acceptable bid had been made - the bond holders would be more optimistic than they are now
Wasps going into admin & the impact on CCFC (6 Viewers)
- Thread starter Alkhen
- Start date
- Status
Brighton Sky Blue
Well-Known Member
Notwithstanding that if you survive the first season then come down the next, you get a third set of parachute payments.
Colin Steins Smile
Well-Known Member
Have the NEC [Blackstone] factored in the obvious possibility that they'll be left with a stadium and no resident club. SISU have a consistent track record of relocating CCFC. It seems a strange decision to buy the CBS with SISU owning CCFC
Nick
Administrator
It's as if you have just jumped on the thread to say stuff that make no sense but just about sisu?
Evo1883
Well-Known Member
The Premier league is huge , and would attract much more interms of sponsorship , bring money to the casino , hotel coventry itself ..
It has to be the aim , its a goldmine
Nick
Administrator
You would think some of them would have heard something too.
oldskyblue58
CCFC Finance Director
But ACL is owned by wasps holdings not Richardson. As such any proceeds from a share sale go to wasps holdings
If ACL sell just the assets of ACL receive the cash from said sale and because of the charges in place those receipts get applied to the secured liabilities.
Nick
Administrator
On the companies House page it has him as persons in control rather than wasps Holdings?
Doesn't it usually have the limited company on there like it does for otium?
Brighton Sky Blue
Well-Known Member
Equally is Richardson not a substantial creditor of Holdings?
steve cooper
Well-Known Member
Which is exactly why I don't think their bid will be very high. We'll soon see though.
Maybe he's going to start selling Cotton Trader's elasticated trousers to Rugby's fan's.
Of course anything can happen but his history is shopping empires and football.
Going to them at that point he had to foot in the door, all the info.
Calista
Well-Known Member
Not one of your better ones Otis. Did you forget to include the punchline?
jordan210
Well-Known Member
It's a realy backwards process that the bond holders if want to get any sort of control have to get a minimum to agree and it has to go from trustee to broker and back again. Also impossible for them to do anything.
Nick
Administrator
Wolf of wall Street shit
MusicDating
Euro 2016 Prediction League Champion!!
The Trustee terms enable them to act one way and justify it or another way and also justify it...
jordan210
Well-Known Member
Isn't this the first retail bond thats gone down this route ?
D
Deleted member 5849
Guest
Well, better to own the competition than somebody else does.
But tbf I don't see why they wouldn't want a stadium bowl if they could make it work, either. Back in the dark days of Northampton, one of the hot rumours of *our* stadium site was the NEC - so we're just bringing the mountain to Mohammed instead.
oldskyblue58
CCFC Finance Director
he is a director yes and at the moment can influence (or PSC) the process until administration. However it is wasps holdings that own the shares in ACL not richardson.
he controls or controlled it because he controlled wasps holdings. But legally speaking ACL is owned by wasps holdings
CCFC_Irish
Well-Known Member
John McEvoy is probably not interested at this point then
MalcSB
Well-Known Member
They don’t know any more than we do.
The EPL jackpot isn’t contingent on owning the stadium though - if CCFC is such a goldmine, where are the other investors?
To be clear, I’d also bet Ashley wants to buy CCFC too. But I think a lot of people are assuming it’s nailed on when it might not be so straightforward. We already know the stadium business is attractive enough on its own for at least one company to line up a bid.
oldskyblue58
CCFC Finance Director
yes but he doesnt have a charge on the acl assets or entity. Bondholders have the first charge on wasps holdings
speedie87
Well-Known Member
it does and states because he owns >75% of the shares
Nick
Administrator
Did it used to say wasps Holdings that have control or always Richardson?
It says Richardson has over 75% of the shares.
Could this has been changed when he was added as director for this reason?
Gilbert replied to a tweet of somebody asking this, he said he WAS still in the mix....
Nick
Administrator
Yeah of ACL? Surely it should say wasps Holdings if it was through them?
Evo1883
Well-Known Member
The thing we have on our side is the council SURELY don't want to make the same mistake twice
D
Deleted member 5849
Guest
Many would be interested in us at the right price. There's always a small obstacle to that, though!
CCFC_Irish
Well-Known Member
If the roads are anything to go by
D
Deleted member 5849
Guest
Politically, now Wasps are dead it's sensible for them to stay at arm's length. But of course as the freeholder they'll be talking to potential bidders! Also remember all the demands SISU made about a new stadium - that CCC built a road infrastructure etc for them etc - and potential bidders will want to know what's possible, and what isn't.
Liquid Gold
Well-Known Member
Hang on, so another possibility here is Richardson, as director of ACL, will sell the stadium before admin then let the company go into admin with no assets?
1. What does he gain out of that?
2. How on earth is that legal?
1. What does he gain out of that?
2. How on earth is that legal?
- Status