Wasps going into admin & the impact on CCFC (138 Viewers)

[Astute]

I doubt it’s that deep

There will be some comment after the dust settles.

It would be interesting to know what actually led to the sale of Hyam. It is conceivable the investors needed paying and not cash flow. That’s alarming for January

Seppala and Ashley have similar values. Distress and buy cheap. Can’t see it being a match made in heaven

So a guess of yours is conceivable yet a way out for Joy and her latest investors isn't?

 

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[Astute]

As OSB says the EFL would really have no justification to sanction another move

Even if they did what supporters (other than Frank) would accept it? At that point as well surely Robins would have to walk.

Options running out

So you say her options are running out yet you say that selling to Ashley isn't an option you're willing to consider?

 

[Astute]

Personally I'm hoping we never get to to a point where we have Sepalla saying we're moving again and the EFL saying you're out the league if you do. But that is a worry in the Ashley scenario, two people neither of whom are prepared to back down or that concerned about the collateral damage they cause.

I know a lot of people were concerned with the potential of the NEC taking over but I didn't really buy into the idea that they would concrete over the pitch & stick a roof on or raise the rent to ridiculous levels. I'm yet to be convinced that a relatively passive landlord who just lets us do are thing is worse than someone like Ashely trying to distress SISU into selling the club.

So what excuse would SISU have on moving us away from Coventry yet again if the rent stayed the same as agreed for the next 8 years?

Seems like many are looking for a reason where everything could go wrong and stating it as fact.

 

[Brighton Sky Blue]

Personally I'm hoping we never get to to a point where we have Sepalla saying we're moving again and the EFL saying you're out the league if you do. But that is a worry in the Ashley scenario, two people neither of whom are prepared to back down or that concerned about the collateral damage they cause.

I know a lot of people were concerned with the potential of the NEC taking over but I didn't really buy into the idea that they would concrete over the pitch & stick a roof on or raise the rent to ridiculous levels. I'm yet to be convinced that a relatively passive landlord who just lets us do are thing is worse than someone like Ashely trying to distress SISU into selling the club.

The club couldn't be any more distressed surely

 

[Grendel]

So a guess of yours is conceivable yet a way out for Joy and her latest investors isn't?

Who are her latest investors?

 

[Grendel]

So you say her options are running out yet you say that selling to Ashley isn't an option you're willing to consider?

I don’t own the club

 

[Brighton Sky Blue]

I don’t own the club

It is pretty baffling if she's still sat there thinking it's better to cling on to the club rather than going to Big Mike with a begging bowl

 

[ceetee]

Nobody knows what's going on but people are behaving as if their speculation is fact and catastrophising.

Can we just wait and see, and then react accordingly?

 

[MalcSB]

Cant see Ashley buying the lease for anything close to £25m - the valuation is driven down by the £13m dilapidation requirements

There is some talk of a separate refinance to them which again is on his terms as the preferred bidder. Also they have security over assets with wasps holdings so the trustee can claim secured assets there

Ashley can take considerable time to purchase the football club. In the meantime he gets assured revenue through the clubs sub lease. He would I’m sure not be adverse to wasps playing as well. He will look to maximise revenue through the stadium initially. He can wait years to buy the club if he wants and can wait until it’s value is driven down - he never buys things without looking at profit

From what I have seen, it was a bondholder who was talking about a possible refinance which seems to me to be grasping at straws in terms of getting their money back with little thought about a how nonsensical that would be.

 

[Grendel]

From what I have seen, it was a bondholder who was talking about a possible refinance which seems to me to be grasping at straws in terms of getting their money back with little thought about a how nonsensical that would be.

It actually came from here and it clearly wouldn’t be the same amount or terms

Ex-Newcastle owner Mike Ashley held talks with Wasps about takeover

Former Newcastle owner Mike Ashley has held talks with Wasps about a potential takeover as the debt-ridden club battle for their survival. Ashley is understood to have signed a Head of Terms.

www.dailymail.co.uk

 

[Telfer85]

That Alan Nixon sun journalist saying on Twitter Ashley just wants the ground. Don’t know how accurate he is normally with info.

Think the inevitability of Ashley taking over is a lot further away than people think. Few people now saying he’s not interested in us.

 

[Telfer85]

That Alan Nixon sun journalist saying on Twitter Ashley just wants the ground. Don’t know how accurate he is normally with info.

Think the inevitability of Ashley taking over is a lot further away than people think. Few people now saying he’s not interested in us.

For those that don’t have Twitter

 

[MalcSB]

It actually came from here and it clearly wouldn’t be the same amount or terms

Ex-Newcastle owner Mike Ashley held talks with Wasps about takeover

Former Newcastle owner Mike Ashley has held talks with Wasps about a potential takeover as the debt-ridden club battle for their survival. Ashley is understood to have signed a Head of Terms.

www.dailymail.co.uk

I was going to add that it was based on an old story - that a bondholder was suggesting was still a possibility, thinking that would be a route for them to get their £35m back. Since reported that the refinance option was withdrawn and Ashley went into distressed purchase mode. I don’t think that particular bondholder has kept up with progress.

 

[Skybluedownunder]

How much are we guessing Ashley is offering? Wouldn’t he have been better to wait and picked it up a lot lower?


Sent from my iPhone using Tapatalk

 

[MalcSB]

That Alan Nixon sun journalist saying on Twitter Ashley just wants the ground. Don’t know how accurate he is normally with info.

Think the inevitability of Ashley taking over is a lot further away than people think. Few people now saying he’s not interested in us.

Why would Ashley express an interest in CCFC before he has secured the stadium. Revealing his intent could put the price up and he would be better to discover an interest when he has the stadium and experiences the vibe.

 

[Sky Blue Pete]

Why would Ashley express an interest in CCFC before he has secured the stadium. Revealing his intent could put the price up and he would be better to discover an interest when he has the stadium and experiences the vibe.

He’s a tit if he just buys the ground

 

[MalcSB]

He’s a tit if he just buys the ground

Totally agree

 

[Grendel]

He’s a tit if he just buys the ground

He is under no timescale though so can wait and wait until for him a time is suitable

 

[Astute]

How much are we guessing Ashley is offering? Wouldn’t he have been better to wait and picked it up a lot lower?


Sent from my iPhone using Tapatalk

Perspective is the answer.

Ashley holding off any purchase to try and save a few million would compare to the vast majority of us holding off the purchase of a car to try and get a free half tank of fuel.

He is said to be worth about £3,600,000,000

 

[SkyblueDad]

If Ashley is the man interested yet to be confirmed I would think ground & club eventually will be very much in his mind, we know he builds clubs to sell on and ground & club is the attractive bet, now a ground & Premiership club becomes very attractive.

 

[The Philosopher]

Perspective is the answer.

Ashley holding off any purchase to try and save a few million would compare to the vast majority of us holding off the purchase of a car to try and get a free half tank of fuel.

He is said to be worth about £3,600,000,000

Ashley strikes me as the type of bloke that has to get a bargain to get that sense of “winning”, that sense that he’s outthought the establishment / another businessman/woman. Look at Sports Direct and how he’s made that and now House of Fraser.

But then again he flies everywhere in a chopper - which ain’t cheap.

My take: he’ll get hold of the Wasp brand and try to show everyone that he’s smarter than them by getting them back to something like.

I also think he’ll want to get hold of CCFC and want us to finish higher than NUFC - just to say “F—- You, football establishment”

 

[Dirk Turpin]

Ashley strikes me as the type of bloke that has to get a bargain to get that sense of “winning”, that sense that he’s outthought the establishment / another businessman/woman. Look at Sports Direct and how he’s made that and now House of Fraser.

But then again he flies everywhere in a chopper - which ain’t cheap.

My take: he’ll get hold of the Wasp brand and try to show everyone that he’s smarter than them by getting them back to something like.

I also think he’ll want to get hold of CCFC and want us to finish higher than NUFC - just to say “F—- You, football establishment”

He's bought up a good chunk of high street clothing/companies, I dont think hes a chancer, it seems like his current thing is buying up failing brands or companies. He's not an idiot, he's probably got his eyes on City and using the ground situation to strong arm sisu in the long run. As long as we dont play in Donnay or Londsdale, he cant be any worse than sisu can he?

 

[Sky Blue Pete]

He is under no timescale though so can wait and wait until for him a time is suitable

He can but if he does he’s a tit

 

[Sky Blue Pete]

He's bought up a good chunk of high street clothing/companies, I dont think hes a chancer, it seems like his current thing is buying up failing brands or companies. He's not an idiot, he's probably got his eyes on City and using the ground situation to strong arm sisu in the long run. As long as we dont play in Donnay or Londsdale, he cant be any worse than sisu can he?

Think it will depend who you blame for what happens if he does buy the arena and not ccfc

 

[Sky Blue Pete]

Perspective is the answer.

Ashley holding off any purchase to try and save a few million would compare to the vast majority of us holding off the purchase of a car to try and get a free half tank of fuel.

He is said to be worth about £3,600,000,000

I hope you’re correct. You normally talk a lot of sense

 

[1ccfc]

He is said to be worth about £3,600,000,000

Ashley did an interesting documentary when he was at Newcastle. He was saying that on paper he was worth X amount, but his wealth was tied up in Sports Direct shares which he wasn't prepared sell. His liquid wealth wasn't enough to be competitive at the top end of the Premiership and he refused to keep putting in endless money which the fans wanted.

 

[Sbarcher]

Does Ashley buy us now with the possibility of a good run and maybe play-offs for a higher sum or leave it to pick up cheaply down the line when we are in a much worse position, losing best players, maybe even relegated. The latter could add a couple of years to his timescale and could mean throwing even more money at it to get us where we are now.
He has the money so makes sense to buy now and go for it.

 

[Sky Blue Pete]

Does Ashley buy us now with the possibility of a good run and maybe play-offs for a higher sum or leave it to pick up cheaply down the line when we are in a much worse position, losing best players, maybe even relegated. The latter could add a couple of years to his timescale and could mean throwing even more money at it to get us where we are now.
He has the money so makes sense to buy now and go for it.

Be nice if ccc bent over backwards to support organisations and individuals in the city as much as they did with wasps and they appear to be doing with him

 

[shmmeee]

Be nice if ccc bent over backwards to support organisations and individuals in the city as much as they did with wasps and they appear to be doing with him

“Why Oh Why are the council prioritising companies that promise investment into the city and not the one threatening legal action and refusing to actually bid or even engage “

Absolute mystery mate. One for Scooby-Doo that.

 

[Sky Blue Pete]

“Why Oh Why are the council prioritising companies that promise investment into the city and not the one threatening legal action and refusing to actually bid or even engage “

Absolute mystery mate. One for Scooby-Doo that.

Haven’t seen Coventry rugby club threatening legal action. To be fair not have I seen ccfc threaten it either, and wasps didn’t bring any investment either did they ultimately.
I have said if Ashley does bring investment and jobs ccc have fallen on their feet. If he just gets lots of support and doesn’t follow through then we’ve been played again

 

[shmmeee]

Haven’t seen Coventry rugby club threatening legal action. To be fair not have I seen ccfc threaten it either, and wasps didn’t bring any investment either did they ultimately.
I have said if Ashley does bring investment and jobs ccc have fallen on their feet. If he just gets lots of support and doesn’t follow through then we’ve been played again

No they didn’t. But they promised it. As I said before this is like turning up to a job interview unwashed and in a dirty tracksuit and complaining you were the best person for the job.

Everything is someone else’s fault. It’s like being owned by a 12 year old. CCC have repeatedly said they want an owner for the arena that aligns with their vision for regeneration. Wasps and Ashley made those promises Sisu refused to cos reasons.

No attempt to even be involved in the process twice now. Just sit about moaning no one offered them the stadium exclusively for free.

 

[Gynnsthetonic]

No they didn’t. But they promised it. As I said before this is like turning up to a job interview unwashed and in a dirty tracksuit and complaining you were the best person for the job.

Everything is someone else’s fault. It’s like being owned by a 12 year old. CCC have repeatedly said they want an owner for the arena that aligns with their vision for regeneration. Wasps and Ashley made those promises Sisu refused to cos reasons.

No attempt to even be involved in the process twice now. Just sit about moaning no one offered them the stadium exclusively for free.

How many football club owners are asked by the local council to build hotels on adjacent land to the stadium, I can't think of any

 

[Sky Blue Pete]

No they didn’t. But they promised it. As I said before this is like turning up to a job interview unwashed and in a dirty tracksuit and complaining you were the best person for the job.

Everything is someone else’s fault. It’s like being owned by a 12 year old. CCC have repeatedly said they want an owner for the arena that aligns with their vision for regeneration. Wasps and Ashley made those promises Sisu refused to cos reasons.

No attempt to even be involved in the process twice now. Just sit about moaning no one offered them the stadium exclusively for free.

Think they have attempted to this time but been sidelined when Ashley or whoever became the one. I don’t disagree about what it looks like

 

[clint van damme]

No they didn’t. But they promised it. As I said before this is like turning up to a job interview unwashed and in a dirty tracksuit and complaining you were the best person for the job.

Everything is someone else’s fault. It’s like being owned by a 12 year old. CCC have repeatedly said they want an owner for the arena that aligns with their vision for regeneration. Wasps and Ashley made those promises Sisu refused to cos reasons.

No attempt to even be involved in the process twice now. Just sit about moaning no one offered them the stadium exclusively for free.

What is their vision for regeneration? They're a bunch of fucking amateurs who have made some horrendously bad and costly mistakes to the detriment of this City.

And I'm not talking about anything to do with the Ricoh though even that has turned into a massive fuck up. Anyone who bought into this city of rugby bollocks propped up by a 35 million bond needs to give their head a wobble.

The council know needto make sure they're not involved in another shit show that drags on for 15 years.

 

[Saddlebrains]

Well funny how many people are talking about Ashley owning us and money invested etc


We're in for a world of pain the next few seasons. Seppala v Ashley will go on longer than the Vietnam war. 2 people who are used to getting thier own way, no matter who or what collateral gets harmed. On this occasion, us and our football club.

Ashley will not just pick us up. Hes clever hes got the stadium and again puts sisu in a corner

What does Joy do when the backs against the wall? Litigation, threats, move us, pull funding, make enemies.

This is the worst possible outcome. Of course he wants the club but he wouldn't think twice about distressing us to get it cheaper.

Amazed how many of you are still in cloud cuckoo land with this and talking as if hes already our owner