Wasps going into admin & the impact on CCFC (12 Viewers)

[Nick]

I’m sure I read he had an exclusivity period of 10 days

How long has it been? Feels about 6 months

 

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[shmmeee]

How long has it been? Feels about 6 months

Last Tuesday wasn’t it? During the game. So assuming ten days is ten business days that’s a week today.

 

[HuckerbyDublinWhelan]

Last Tuesday wasn’t it? During the game. So assuming ten days is ten business days that’s a week today.

I might be wrong - but I’m sure I read that somewhere. Trying to find a link

 

[slowpoke]

Well Mike Ashley has been named preferential buyer, so terms have been agreed I assume other interested parties have to better those terms and satisfy the administrator a business plan going forward.
This has gone almost exactly how my very good itk said it would weeks ago, Wasps gone, stadium sorted, so I’m just waiting for the biggee for me number three and enjoy the happy Christmas he predicted.

 

[ajsccfc]

Has Ashley been confirmed as the preferred choice now?

 

[HuckerbyDublinWhelan]

Well Mike Ashley has been named preferential buyer, so terms have been agreed I assume other interested parties have to better those terms and satisfy the administrator a business plan going forward.
This has gone almost exactly how my very good itk said it would weeks ago, Wasps gone, stadium sorted, so I’m just waiting for the biggee for me number three and enjoy the happy Christmas he predicted.

Doesn’t preferred bidder just give exclusive access to the books. So whilst his offer is good it isn’t set in stone

 

[Frostie]

Please something happen today, anything. Either that or let’s start talking chocolate again.

Don't get your Snickers in a twist

 

[slowpoke]

Doesn’t preferred bidder just give exclusive access to the books. So whilst his offer is good it isn’t set in stone

I’m not sure how it works to be honest some on here might, but you are right saying it isn’t set in stone. The preferred bidder in that on going Derby saga didn’t get it, neither did Mike Ashley.
The plus point for me is the ball is rolling.

 

[Brighton Sky Blue]

Well Mike Ashley has been named preferential buyer, so terms have been agreed I assume other interested parties have to better those terms and satisfy the administrator a business plan going forward.
This has gone almost exactly how my very good itk said it would weeks ago, Wasps gone, stadium sorted, so I’m just waiting for the biggee for me number three and enjoy the happy Christmas he predicted.

 

[Torquay Sky Blue]

Don't get your Snickers in a twist

It's a Marathon not a sprint

One for the teenagers

 

[Otis]

Don't get your Snickers in a twist

Oh no, not more bloody chocolate talk. I've had enough. I am off to watch Guardians of the Galaxy after I have taken my Yorkie for a walk.

Hope that doesn't cause any sort of Ripple on here.

 

[Brighton Sky Blue]

Oh no, not more bloody chocolate talk. I've had enough. I am off to watch Guardians of the Galaxy after I have taken my Yorkie for a walk.

Hope that doesn't cause any sort of Ripple on here.

Sweet

 

[SkyBlueCharlie9]

Weve all gone off topic again !

 

[jordan210]

I assume if nothing happens within the 10 day period they go in to full Admin ?

 

[HuckerbyDublinWhelan]

I assume if nothing happens within the 10 day period they go in to full Admin ?

Again, not 100% on that timeframe - but effectively it gets opened up again

 

[jordan210]

Again, not 100% on that timeframe - but effectively it gets opened up again

As in open for creditors to liquidate them ? As cant just open up bidding again as otherwise you could keep playing the same game.

 

[HuckerbyDublinWhelan]

As in open for creditors to liquidate them ? As cant just open up bidding again as otherwise you could keep playing the same game.

No it opens it up for other bidders to come forward - the company is in administration at the moment. The way I understand it is - Ashley had made a conditional offer that is acceptable, he’s now got a time frame to complete the deal

same as Kirchner at Derby

ACL currently has funding it can remain in admin until it runs out

 

[shmmeee]

You know it’s bad when you’re hanging hope on a slowpoke post…

 

[torchomatic]

Oh no, not more bloody chocolate talk. I've had enough. I am off to watch Guardians of the Galaxy after I have taken my Yorkie for a walk.

Hope that doesn't cause any sort of Ripple on here.

There's always one Drifter who goes off thread.

 

[robbiethemole]

I think we’ll all be Flaked out at the end of this

 

[skybluetony176]

Are SISU still in the running or have they fudged it?

 

[Johnnythespider]

Is Joy's American investor a Texan

 

[skybluetony176]

Is Joy's American investor a Texan

I don’t know but if they stay here much long it won’t be long before we yo-yo up and down the leagues again.

 

[Brylowes]

ACL currently has funding it can remain in admin until it runs out

Is Mike Ashley providing the necessary funds to keep ACL open for business ?
If not who else would.
Rolo on the conclusion to this mess.

 

[jordan210]

 

[Gynnsthetonic]

Ashley seems to have SISU by the curly wurlys

 

[jordan210]

 

[False9]

"we tried to buy the stadium but were blocked from doing so"

 

[clint van damme]

Sisu have fucked it.
Do they take what they can for the club and skip town or do they dig in and act the prick?

 

[edgy]

Sisu have fucked it.
Do they take what they can for the club and skip town or do they dig in and act the prick?

Do we have an historical experience to help us guess I wonder?

 

[SBT]

Sisu have fucked it.
Do they take what they can for the club and skip town or do they dig in and act the prick?

They can’t just give up now - not when we’re so close to the Warwick University stadium!

 

[Alkhen]

"we tried to buy the stadium but were blocked from doing so"

To be fair if this goes down they would have a point. I have no love for SISU but it does appear that CCC holding grudges has scuppered any chance they would have had to even make a bid... For the second time

 

[NorthernWisdom]

To be fair if this goes down they would have a point. I have no love for SISU but it does appear that CCC holding grudges has scuppered any chance they would have had to even make a bid... For the second time

Ultimately though the administrator will want the best deal - so Ashley has clearly come in with a deal that's considered more than acceptable.

Others could have done that, it's not like he's Mystic Mike who somehow can predict this happening and get his ducks lined up... unlike the owners of one of the stadium's tenants, who'd have no clue anything was wrong until it all came falling down!

 

[False9]

To be fair if this goes down they would have a point. I have no love for SISU but it does appear that CCC holding grudges has scuppered any chance they would have had to even make a bid... For the second time

Didn't Gilbert state they weren't intiially interested and there were 2 bidders.

If Sisu had to sell Hyam to pay for some grass temporarily, it says a lot about their finances. Can't see where 20m for the arena comes from.

 

[RegTheDonk]

An "eight figure sum" would start at £10M which I'd expect would spread pretty thin for the bondholders/creditors. I'd think even SISU and whatever American investor they had in mind would surely trump that. Would we assume it's much more than that as does not the administrator have to get the best deal?