Wasps going into admin & the impact on CCFC (18 Viewers)

[HuckerbyDublinWhelan]

How about this:

MA pays £30m for 51% of the club.
The other 49% stays with SISU at 4% over LIBOR or similar and redeemed at promotion to PL for say, 30m

That way SISU don’t have control and haven’t damaged their balance sheet.

If Ashley offered 30m SISU would be gone tomorrow

 

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[AFCCOVENTRY]

Lol… never had a sniff in

 

[oldskyblue58]

There was nothing to stop SISU putting in a pre-pack admin offer same as MA - which leaves me of the opinion that either they’re simply incompetent, or that there’s more going on than meets the eye.

Simply misjudged it or havent got access to the funds for this particular project. Now the lease assignment agreed in principle and subject to final sign off, which was why CCC was involved and the timing of the ACL administration announcement, SISU and every other bidder is out of the equation for now.

Administrators wont want to break the agreement as may become liable for breach etc, if leases already gone across then ACL isnt left with anything that another party could use to trade from

 

[The Philosopher]

If Ashley offered 30m SISU would be gone tomorrow

No

They can’t afford to do that, see previous.

Any talk of “tax losses write off” isn’t applicable

 

[AFCCOVENTRY]

If Ashley offered 30m SISU would be gone tomorrow

Not sure how much he will eventually pick the CBS up for, but he was offering I think £50m for both Pride Park and Derby

 

[Esoterica]

Now then, where is that Gary Hoffman….

Absolutely nowhere near any of it, I hope.

 

[Calista]

SISU seem to have a history of arriving at the party too late or even the wrong party

They always seem to make catastrophic misjudgements. Assumed they were the only game in town. Treated local politicians and the charity as if they were just another helpless business to be distressed. Didn’t realise that if the Arena became available debt-free there would be bigger fish in the pond than them. And now they probably imagine the ‘new stadium’ gag will work on a different audience.

 

[Samo]

Simply misjudged it or havent got access to the funds for this particular project. Now the lease assignment agreed in principle and subject to final sign off, which was why CCC was involved and the timing of the ACL administration announcement, SISU and every other bidder is out of the equation for now.

Administrators wont want to break the agreement as may become liable for breach etc, if leases already gone across then ACL isnt left with anything that another party could use to trade from

I think SISU are a lot cuter than everyone is giving them credit for.
Remember the Times article?

 

[The Philosopher]

SISU seem to have a history of arriving at the party too late or even the wrong party

Not sure why we need Hoffman involved, personally I wouldn't want him to be.

Not saying he is or would be, just pointed out that they’ve (GH/MA) had dealings before.

 

[oldskyblue58]

How about this:

MA pays £30m for 51% of the club.
The other 49% stays with SISU at 4% over LIBOR or similar and redeemed at promotion to PL for say, 30m

That way SISU don’t have control and haven’t damaged their balance sheet.

it would be 51% of the ordinary share capital and interest is not charged on shares, and no dividend available because of no distributable profits. Not to mention the £65m in preference shares sitting there that get rights to dividends first

I can not see why any one would buy into Otium wholly or in part. Surely, they would buy the assets (playing squad, training ground, trademark etc SISU pd £1.5m for it all) not buy in to the ARVO loans at 11%+ interest or the other debts or the preference shares

 

[CCFCSteve]

I think SISU are a lot cuter than everyone is giving them credit for.
Remember the Times article?

I’d imagine they want to sell but don’t want to announce it to the world as they want to try to sell from a position of perceived strength

unfortunately selling a player at a fire sale price, having known cash flow problems, being late with HMRC payments and now being under a transfer embargo might be telling potential buyers that all is not well

 

[Gynnsthetonic]

SISU seem to have a history of arriving at the party too late or even the wrong party

Not sure why we need Hoffman involved, personally I wouldn't want him to be.

Why not Hoffman, I'd like to see some local connection if Ashley eventually gets the club, chief executive or something similar.

 

[Senior Vick from Alicante]

I just can’t see how he would be interested in the Arena if he wasn’t interested in CCFC too. What concerns me is that he might be interested in Wasps too which means we haven’t seen the back of them. If what people are saying is true about Wasps having to play at least 2 years in where they last played this would mean MA is the only viable option for Wasps survival. On that basis you would think he could pick them up for peanuts so why wouldn’t he, it’s a fresh audience for the Sports Direct brand, it expands his interests in sport and so what if they can only sell 4000 tickets, just open only one stand like we have for the Johnson’s paint trophy games. Got a bad feeling we haven’t seen the last of Wasps.

I dont think Wasps will want to come back, the cost of hosting a game here would be prohibitive as they will not be getting anything back as per the deal that we had.

 

[Nick]

Why not Hoffman, I'd like to see some local connection if Ashley eventually gets the club, chief executive or something similar.

I'd rather not.

Not sure giving somebody a job based on them being local is a good idea.

 

[oldskyblue58]

I think SISU are a lot cuter than everyone is giving them credit for.
Remember the Times article?

Not doubting their intelligence or skills, but right now everyone seems to be looking at things as a CCFC fan desperate for change. No doubt if ACL sale goes through SISU have backed themselves in to a hole and their negotiation cards are fewer

 

[Sick Boy]

Why not Hoffman, I'd like to see some local connection if Ashley eventually gets the club, chief executive or something similar.

We need a fresh start.

 

[gazza]

Will wasps be renting too then ? Or they deffo finished in Coventry?

Surely they’re finished in Coventry, they were only getting crowds of 5000 and most of them would have been the bondholders that are about to get fucked over

 

[HuckerbyDublinWhelan]

No

They can’t afford to do that, see previous.

Any talk of “tax losses write off” isn’t applicable

Course they would, I’m sure I’ll be corrected - but I’m sure someone said they’d but In around 20-30 mil altogether. If they got their money back they would be gone

I don’t think they ever intended being here that long, and looking at our summer and inability to pay tax - I’d say they dont Want to fund or be here now

 

[clint van damme]

I'd rather not.

Not sure giving somebody a job based on them being local is a good idea.

Some would disagree

 

[MusicDating]

That's a logical and rational theory on next steps OSB. And I agree with BSB in that I can't see SISU continuing to slowly bleed the club for £1-2m a year when they could get say £20m now from MA to do one.

Also, there's no way SISU could now leave the CBS at least for the duration of the existing lease. It would cost them money in lost revenue and they ain't gonna distress MA!

 

[AFCCOVENTRY]

On the Wasps point and if they may play at CBS. This time round they would have to pay rent and with the crowds they get etc I can’t see how they can afford to.

 

[AFCCOVENTRY]

That's a logical and rational theory on next steps OSB. And I agree with BSB in that I can't see SISU continuing to slowly bleed the club for £1-2m a year when they could get say £20m now from MA to do one.

Also, there's no way SISU could now leave the CBS at least for the duration of the existing lease. It would cost them money in lost revenue and they ain't gonna distress MA!

There’s always a deal to be done in the business world…

 

[wingy]

Just imagine a new pitch in the summer after the the Monster trucks concerts boxing etc. Maybe even the original idea of a retractable one new paint everywhere and John Ledwidge back on the grass, Kasper Scmeichel coming in January.

 

[Skyblue_CP]

Here’s me naively thinking we would have had some answers over the last few days!

 

[SkyblueDad]

SISU seem to have a history of arriving at the party too late or even the wrong party

Not sure why we need Hoffman involved, personally I wouldn't want him to be.

Of course he’s involved

Surely they’re finished in Coventry, they were only getting crowds of 5000 and most of them would have been the bondholders that are about to get fucked over

It would be better to get Coventry City ladies at the CBS. Womens football is booming and they would probably get bigger gates.

 

[Macca1987]

I went to the game last night not really up for it, what with everything going on off the pitch. Was highly entertained and came away on a high, then hear ACL gone into admin. Now reading today I'm back despondent, not knowing what's really going to happen to our club. Too many what if scenarios out there at the moment. I just want someone to come out and say this is the deal, it's all been signed sealed and delivered, now move on, is that too much to ask for

 

[tisza]

Not doubting their intelligence or skills, but right now everyone seems to be looking at things as a CCFC fan desperate for change. No doubt if ACL sale goes through SISU have backed themselves in to a hole and their negotiation cards are fewer

SISU are just trapped by this investment no matter how they spin it.
In Ranson's first "big" TV interview he said SISU would probably only be here 3-4 years as their business strategy is to turn companies around and then move on.
We can go through the catalogue of mistakes they've made but (like most championship clubs) atm they are trapped by the need to be in the Championship whilst being unable to seriously challenge for promotion. Need Championship status for value but comes at an increased cost in terms of losses.

 

[Macca]

I went to the game last night not really up for it, what with everything going on off the pitch. Was highly entertained and came away on a high, then hear ACL gone into admin. Now reading today I'm back despondent, not knowing what's really going to happen to our club. Too many what if scenarios out there at the moment. I just want someone to come out and say this is the deal, it's all been signed sealed and delivered, now move on, is that too much to ask for

It will be weeks

 

[Esoterica]

Why not Hoffman, I'd like to see some local connection if Ashley eventually gets the club, chief executive or something similar.

Dale Evans
Joe Elliott
His weird offer to get games on but keep all the revenue or whatever the details were
Association with the Trust
Wanting to close the academy

I'm sure there are others with a better memory than me that could expand that starter list

 

[SkyblueDad]

Why not Hoffman, I'd like to see some local connection if Ashley eventually gets the club, chief executive or something similar.

What about Dawkins local & big fan, and his American contact. Nothing said from him for a while other than a recent quote from Richard Overson with him saying one step forward two steps back. ??

 

[Joy Division]

What about Dawkins local & big fan, and his American contact.

I suspect he's having fun on the socials getting his name out there rather than actually being serious about being involved.

 

[AOM]

On the Wasps point and if they may play at CBS. This time round they would have to pay rent and with the crowds they get etc I can’t see how they can afford to.

And they wouldn't even have Premiership rugby as a sell to fans this time.
Why would anyone from Coventry go to watch them if Cov Rugby are in the same league now?

 

[Nick]

What about Dawkins local & big fan, and his American contact. Nothing said from him for a while other than a recent quote from Richard Overson with him saying one step forward two steps back. ??

Based on what?

I'm local and have played Football Manager too.

 

[Liquid Gold]

Lets get the Sky Blue Trust on the board.

 

[Nick]

Lets get the Sky Blue Trust on the board.

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