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Wasps going into admin & the impact on CCFC (14 Viewers)

  • Thread starter Alkhen
  • Start date Sep 21, 2022
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Grendel

Well-Known Member
  • Nov 15, 2022
  • #12,601
shmmeee said:
Its clarified in the interview. Gilbert aays “people will say you should have nodded earlier and there’s an exclusivity clause” and Dawkins goes “urm yeah I suppose, but anyway I just want a transparent bidding process”
Click to expand...

He’s another Haskell - loves the publicity and the “look at me”
 
Reactions: AOM, Philosoraptor, RegTheDonk and 4 others

shmmeee

Well-Known Member
  • Nov 15, 2022
  • #12,602
Sky Blue Pete said:
Ta I only listened to the link
Click to expand...

Trish Adudu on BBC CWR - CBS Arena bidder says he's being "shut out" of process - BBC Sounds

One of the interested bidders for the CBS Arena says he's being shut out of the process.
www.bbc.co.uk
 

Nick

Administrator
  • Nov 15, 2022
  • #12,603
He says several other bidders??
 
R

rexo87

Well-Known Member
  • Nov 15, 2022
  • #12,604
shmmeee said:
There was a bidding process, NEC and Ashley bid, Sisu and Dawkins didn’t. Unless someone can prove otherwise but despite being given the chance to they’re not claiming that. Everyone knew ACL was due for admin for two weeks leading up to Ashley being announced preferred bidder, it wasn’t a secret.
Click to expand...

The whole idea of the exclusivity period just feels wrong though to me, that’s what I’m saying. Surely there should be some sort of hearing where the highest bidder gets it. That means creditors have more chance of getting more of their money back. Sounds very basic and I have next to no knowledge of the system. Just doesn’t feel right


Sent from my iPad using Tapatalk
 

shmmeee

Well-Known Member
  • Nov 15, 2022
  • #12,605
Nick said:
He says several other bidders??
Click to expand...

Well we know there’s at least one more “credible” interest, and of course Byng (lol). But they all seemed to not actually bid until they legally couldn’t have their bids entertained, which is weird.
 

tisza

Well-Known Member
  • Nov 15, 2022
  • #12,606
shmmeee said:
Its clarified in the interview. Gilbert aays “people will say you should have nodded earlier and there’s an exclusivity clause” and Dawkins goes “urm yeah I suppose, but anyway I just want a transparent bidding process”
Click to expand...
Process is transparent in that it is following standard procedures. I'm surprised he claims to know the details of Ashley's bid as I thought negotiations would be covered by an NDA during the exclusivity period.
 

shmmeee

Well-Known Member
  • Nov 15, 2022
  • #12,607
rexo87 said:
The whole idea of the exclusivity period just feels wrong though to me, that’s what I’m saying. Surely there should be some sort of hearing where the highest bidder gets it. That means creditors have more chance of getting more of their money back


Sent from my iPad using Tapatalk
Click to expand...

Yeah there was, that’s how Ashley became preferred bidder.
 

shmmeee

Well-Known Member
  • Nov 15, 2022
  • #12,608
tisza said:
Process is transparent in that it is following standard procedures. I'm surprised he claims to know the details of Ashley's bid as I thought negotiations would be covered by an NDA during the exclusivity period.
Click to expand...

He says he’s going off press reports TBF
 

Gynnsthetonic

Well-Known Member
  • Nov 15, 2022
  • #12,609
Think he knew what he was doing, he just wants to get noticed, never a credible buyer, Dale Evans all over again
 
Reactions: AOM, Saddlebrains and tisza
H

HuckerbyDublinWhelan

Well-Known Member
  • Nov 15, 2022
  • #12,610
Fuck it I’m gonna put it out here lads - I’ve made a 23m bid yesterday.

had a deal to buy the club but the council have locked me out. Just becuase I didn’t bid pre-pack

clearly the council’s fault and no mine
 

Nick

Administrator
  • Nov 15, 2022
  • #12,611
tisza said:
Process is transparent in that it is following standard procedures. I'm surprised he claims to know the details of Ashley's bid as I thought negotiations would be covered by an NDA during the exclusivity period.
Click to expand...
Reeves did say he hadn't signed one...
 

tisza

Well-Known Member
  • Nov 15, 2022
  • #12,612
rexo87 said:
The whole idea of the exclusivity period just feels wrong though to me, that’s what I’m saying. Surely there should be some sort of hearing where the highest bidder gets it. That means creditors have more chance of getting more of their money back. Sounds very basic and I have next to no knowledge of the system. Just doesn’t feel right


Sent from my iPad using Tapatalk
Click to expand...
Getting the creditors the most money may well not be the best option for the business going forward. Sometimes need to avoid asset stripping from potential new owners.
Exclusivity period is to get the deal done quickly. Weeds out time wasters.
 
Reactions: Gibbo

tisza

Well-Known Member
  • Nov 15, 2022
  • #12,613
Nick said:
Reeves did say he hadn't signed one...
Click to expand...
Reeves isn't negotiating with Ashley is he?
 

Nick

Administrator
  • Nov 15, 2022
  • #12,614
tisza said:
Reeves isn't negotiating with Ashley is he?
Click to expand...
How does he know the regeneration promises Ashley is making?


Again is very naive to think he has no idea about it.
 
Reactions: RegTheDonk

shepardo01

Well-Known Member
  • Nov 15, 2022
  • #12,615
Nick said:
How does he know the regeneration promises Ashley is making?


Again is very naive to think he has no idea about it.
Click to expand...
He absolutely has...
The Council as the freeholders were, dealing with the NEC bid, and are dealing with Ashley.
They, as freeholders have to authorise any transfer of the lease from ACL.. .
 

Grendel

Well-Known Member
  • Nov 15, 2022
  • #12,616
shepardo01 said:
He absolutely has...
The Council as the freeholders were, dealing with the NEC bid, and are dealing with Ashley.
They, as freeholders have to authorise any transfer of the lease from ACL.. .
Click to expand...

They do but there is a lot of noise about exclusivity. Frankly if Sisu had serious investors they were in pole position months ago to prepare for that and a move the minute the first notice was triggered
 
Reactions: fernandopartridge, Deleted member 5849, CCFCSteve and 3 others

Telfer85

Well-Known Member
  • Nov 15, 2022
  • #12,617
Unfortunately I just think they’ve been outmanoeuvred at the end of the day. Ashley getting that exclusivity deal has given him the head start on everyone else. I think the other bidders have just been very naive in thinking it would go into a normal admin process.

I do think Dawkins has genuine interest and backing in my opinion but I don’t think we’ll get chance to find out.

If it’s true he’s been working on a deal with Sisu as well (unless I misunderstood that) maybe it does show they are open to selling. Unfortunately I’m still not convinced in any way shape or form that Ashley is interested.
 
Reactions: Fergusons_Beard and Hiraeth

shmmeee

Well-Known Member
  • Nov 15, 2022
  • #12,618


 

Skyblueweeman

Well-Known Member
  • Nov 15, 2022
  • #12,619
HuckerbyDublinWhelan said:
clearly the council’s fault and no mine
Click to expand...

You Scottish?
 
Reactions: ccfcrob, EalingSB, Otis and 2 others

Hiraeth

Well-Known Member
  • Nov 15, 2022
  • #12,620
Telfer85 said:
I do think Dawkins has genuine interest and backing in my opinion but I don’t think we’ll get chance to find out.
Click to expand...
We'll probably only find out if Ashley's bid collapses
 
Reactions: Telfer85

tisza

Well-Known Member
  • Nov 15, 2022
  • #12,621
shmmeee said:
View attachment 27250

Click to expand...
who are his backers exactly?
 

Nick

Administrator
  • Nov 15, 2022
  • #12,622
I can't remember but was reeves asked directly when interviewed how many bids were lodged etc?
 

ccfctommy

Well-Known Member
  • Nov 15, 2022
  • #12,623
tisza said:
who are his backers exactly?
Click to expand...

The american
 

shmmeee

Well-Known Member
  • Nov 15, 2022
  • #12,624
tisza said:
who are his backers exactly?
Click to expand...

You wouldn’t have heard of him, goes to a different school.

This Yank who owns bits of various yank sports teams apparently.
 

Liquid Gold

Well-Known Member
  • Nov 15, 2022
  • #12,625
tisza said:
who are his backers exactly?
Click to expand...
Tom Grennan and the spotty one from The Enemy.
 
Reactions: Greggs and Sick Boy

shmmeee

Well-Known Member
  • Nov 15, 2022
  • #12,626
Nick said:
I can't remember but was reeves asked directly when interviewed how many bids were lodged etc?
Click to expand...

I don’t think so no.

That’s what we need to know: who put a bid forwards before Ashley got exclusivity.
 
R

rexo87

Well-Known Member
  • Nov 15, 2022
  • #12,627
shmmeee said:
View attachment 27250

Click to expand...

Nice beard schmmeee


Sent from my iPad using Tapatalk
 
Reactions: shmmeee

Nick

Administrator
  • Nov 15, 2022
  • #12,628
shmmeee said:
I don’t think so no.

That’s what we need to know: who put a bid forwards before Ashley got exclusivity.
Click to expand...
If there were multiple, how does it work with exclusively? Can somebody offer less but with exclusive payments than somebody offering more but with out them?

That would have been a good question.
 

olderskyblue

Well-Known Member
  • Nov 15, 2022
  • #12,629
shmmeee said:
I don’t think so no.

That’s what we need to know: who put a bid forwards before Ashley got exclusivity.
Click to expand...
Didn't he mention they had had up to 10 bids? (or interested parties?)
 

shmmeee

Well-Known Member
  • Nov 15, 2022
  • #12,630
Nick said:
If there were multiple, how does it work with exclusively? Can somebody offer less but with exclusive payments than somebody offering more but with out them?

That would have been a good question.
Click to expand...

As far as I can see the process is anyone could have bid at any point prior to Nov 1st, only Ashley and NEC did, then at that point a preferred bidder is named based on those bids and with it an exclusivity period to allow due dil.

If anyone’s got things that contradict that narrative I’m all ears but that’s my understanding and working assumption. So far the word from SaddleBrains’ source is “Sisu we’re waiting and got gazumped” and from Dawkins it’s “we bid after Nov 1st.

There’s a scandal here is Sisu or Dawkins we’re in any way stopped from bidding prior to Nov 1st, but neither seem to be suggesting that. So not sure how it’s anything but tough titties and move faster next time.
 
W

wingy

Well-Known Member
  • Nov 15, 2022
  • #12,631
Interesting what Gilbert put back to him considering that's largely the subject of his big reveal tomorrow,the seemingly unfair aspect of exclusivity periods.
 

shmmeee

Well-Known Member
  • Nov 15, 2022
  • #12,632
olderskyblue said:
Didn't he mention they had had up to 10 bids? (or interested parties?)
Click to expand...

Reeves mentioned 10 interested parties he spoke to including Hottiger, but they didn’t all go past a convo. Gilbert/CET reported 4 “credible parties” but only two bids.
 

Grendel

Well-Known Member
  • Nov 15, 2022
  • #12,633
Nick said:
If there were multiple, how does it work with exclusively? Can somebody offer less but with exclusive payments than somebody offering more but with out them?

That would have been a good question.
Click to expand...

Exclusivity is perfectly rational

It means they cover costs and so mean it’s a serious purchase. In theory they can offer less but again every party would know that
 

Grendel

Well-Known Member
  • Nov 15, 2022
  • #12,634
Also I assume if anyone had put a better official bid in they could make the bond trustee aware and ensure bond holders also get the information
 

shepardo01

Well-Known Member
  • Nov 15, 2022
  • #12,635
Grendel said:
Exclusivity is perfectly rational

It means they cover costs and so mean it’s a serious purchase. In theory they can offer less but again every party would know that
Click to expand...
Should the "club" (or if it paid, Sisu) be pissed off as at one stage, they were paying sums of money to get games on (and keep ACL going!?).
 
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