Wasps going into admin & the impact on CCFC (215 Viewers)

[Tommo1993]

Christ, I’ve never known so many lies been clung on to. Made up attendance figures, blaming irrelevant parties, only going downhill after COVID, it’s madness.

 

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[Sick Boy]

Surely he wouldn't dictate that kind of strategy to Joy, even if her involvement was 'hands off' at the start?

Why not? He was the face of it all and, I think, the one who persuaded SISU to invest in a club in the first place.

 

[letsallsingtogether]

it was ridiculous - Swansea paid a peppercorn rent - and again the lease period for the stadium was a joke. What idiot leader of the council signed that off needs shooting - strange the “advice” was ignored when it came to selling the place

Well when people vote these people in what do you expect, none of them are ever wrong and rub them up the wrong way and you are fooked.
CCC has the highest sick absence of any local authority yet nothing seems to be done, has been the highest for years.
You just cant get any changes with these uneducated councillors in power.

 

[hutch1972]

Tell that to Bondholders- they say best deal will be staying with WASPs Receiver

The bondholders have been let down in a big way. Not to get at least 25% of them to generate at least some say on certain decisions is quite alarming. How would a Wasp appointed administrator be in the bondholders interest?

 

[hutch1972]

It's as if they have been living in a different world.

Someone should tell him that doubling gates by way of free entry is not a good business habit.

 

[Liquid Gold]

Even the hugely scaled-down version of Richardson's plans cost £110m to develop. Is that how much the Swansea ground cost (I genuinely don’t know, but suspect only a small fraction)? There’s a difference between a realistic stadium and a vanity project built on contaminated land. I agree (and it has been proven) that the arrangement couldn't work, but it looks like it was based on a lot of legal advice, and I dare say the Council had to think about the vast majority of voters who perceive football as being awash with money and not deserving subsidy. Sisu had all the information when they bought the club. Given what we know about them, you have to suspect that deliberately forcing a cheap sale was always part of their plan. But they got the politics horribly wrong and excluded themselves much to CCFC's cost.

Edit - I agree the sale to Wasps looks like a different ball game, literally.

The liberty stadium cost £27m to build so you’re right it was a lot less.

They didn’t however have a huge chunk of land to sell on to a supermarket. £70m Tesco paid the council in the end wasn’t it? On a deal the club arranged but didn’t see any benefit from.

So after the club had spent the first load of cash on the site and Tesco paid the majority of it how much did the council put in? Around the same as Swansea? Maybe less?

They could easily have seen the benefit of a premier league football club and provided it at a peppercorn in the same way.

It would have been of massive benefit to the city too, Cardiff university estimated Swansea’s first season in the PL generated around £58m for the local economy.

CCC could have provided a platform for the club to succeed under. Instead they tried to rinse us and when we had terrible owners because nobody decent would take on the deal the put us under they sold the place to a rugby franchise.

 

[oldfiver]

Interesting that, and not much sign of stupidity or a vendetta against CCFC in the Council's explanation. Could be just spin I guess, but looks more like the rent and the lease were unfortunate consequences of a grossly over-ambitious development that the club couldn't afford, and could only sustain if we made it into the Prem.

What he doesn’t say is how the CCFC income figure had to tweaked to show they could pay the rent

 

[oldfiver]

‘Arena 2000 started as Chairman Bryan Richardson’s dream’
‘In a single stroke, Coventry City Football Club will be transformed into the envy of England’
‘The Arena will be a technical marvel’
‘Crowds of 40,000 will be able to watch football matches and other events. Another 7,000 will be housed when the pitch is retracted for concerts’

Terracotta tiles and laser-bouncing curtains, yet CCFC didn’t even have enough money to buy the land.

The Ricoh Arena dream that one council official thought was a joke

The club wanted to replace Highfield Road with a 40,000 seater stadium with a retractable roof and pitch - but it wasn't to be

www.coventrytelegraph.net

 

[mark82]

Crikey...

They were averaging more in Wycombe than they did last season in Coventry. They got up to 18k average at one point in the early days in Coventry (and a lot of that was free tickets), but after the novelty wore off dropped back down.

 

[fernandopartridge]

The liberty stadium cost £27m to build so you’re right it was a lot less.

They didn’t however have a huge chunk of land to sell on to a supermarket. £70m Tesco paid the council in the end wasn’t it? On a deal the club arranged but didn’t see any benefit from.

So after the club had spent the first load of cash on the site and Tesco paid the majority of it how much did the council put in? Around the same as Swansea? Maybe less?

They could easily have seen the benefit of a premier league football club and provided it at a peppercorn in the same way.

It would have been of massive benefit to the city too, Cardiff university estimated Swansea’s first season in the PL generated around £58m for the local economy.

CCC could have provided a platform for the club to succeed under. Instead they tried to rinse us and when we had terrible owners because nobody decent would take on the deal the put us under they sold the place to a rugby franchise.

The council investment was £5m ish matching £5m ERDF money (EU structural funds were always required to be matched by the UK authority), they'd have put nothing in otherwise.

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[CCFC54321]

Shugs still saying this is all procedural and everything will work out for the best and wasps will win the championship and European cup double in 2065/67 season?

 

[Liquid Gold]

The council investment was £5m ish matching £5m ERDF money (EU structural funds were always required to be matched by the UK authority), they'd have put nothing in otherwise.

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So buy the time the rent strike kicked in we’d already more than put in our fair share.

 

[Calista]

The liberty stadium cost £27m to build so you’re right it was a lot less.

They didn’t however have a huge chunk of land to sell on to a supermarket. £70m Tesco paid the council in the end wasn’t it? On a deal the club arranged but didn’t see any benefit from.

So after the club had spent the first load of cash on the site and Tesco paid the majority of it how much did the council put in? Around the same as Swansea? Maybe less?

They could easily have seen the benefit of a premier league football club and provided it at a peppercorn in the same way.

It would have been of massive benefit to the city too, Cardiff university estimated Swansea’s first season in the PL generated around £58m for the local economy.

CCC could have provided a platform for the club to succeed under. Instead they tried to rinse us and when we had terrible owners because nobody decent would take on the deal the put us under they sold the place to a rugby franchise.

Fair enough, I’ve got no axe to grind on this, and I’m definitely not going to go into a load of old Council reports about all the figures

 

[Fergusons_Beard]

Interesting that, and not much sign of stupidity or a vendetta against CCFC in the Council's explanation. Could be just spin I guess, but looks more like the rent and the lease were unfortunate consequences of a grossly over-ambitious development that the club couldn't afford, and could only sustain if we made it into the Prem.

That’s because it was the former council leader and not the ones who’s heads were turned towards personal vendettas.


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[Fergusons_Beard]

The liberty stadium cost £27m to build so you’re right it was a lot less.

They didn’t however have a huge chunk of land to sell on to a supermarket. £70m Tesco paid the council in the end wasn’t it? On a deal the club arranged but didn’t see any benefit from.

So after the club had spent the first load of cash on the site and Tesco paid the majority of it how much did the council put in? Around the same as Swansea? Maybe less?

They could easily have seen the benefit of a premier league football club and provided it at a peppercorn in the same way.

It would have been of massive benefit to the city too, Cardiff university estimated Swansea’s first season in the PL generated around £58m for the local economy.

CCC could have provided a platform for the club to succeed under. Instead they tried to rinse us and when we had terrible owners because nobody decent would take on the deal the put us under they sold the place to a rugby franchise.

Always thought this LG and this should be the stance of every City fan.

Fucking council Bastards


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[Gynnsthetonic]

How much is the administration going to cost, Derby's cost millions but went on for nearly a year, don't think Wasp will last that long

 

[Brighton Sky Blue]

Shugs still saying this is all procedural and everything will work out for the best and wasps will win the championship and European cup double in 2065/67 season?

 

[steve cooper]

Good editorial in the Mail

IAN HERBERT: There is no sympathy for 'parasite' rugby club Wasps

Good luck to anyone searching Coventry for sympathy about the financial implosion of Wasps, the Premiership rugby side who have been playing in that city for eight years.

www.dailymail.co.uk

 

[duffer]

Good editorial in the Mail

IAN HERBERT: There is no sympathy for 'parasite' rugby club Wasps

Good luck to anyone searching Coventry for sympathy about the financial implosion of Wasps, the Premiership rugby side who have been playing in that city for eight years.

www.dailymail.co.uk

I'm not exactly a fan of the Mail, but that's a lot closer to the truth than anything the local media have said, imho.

 

[rexo87]

Good editorial in the Mail

IAN HERBERT: There is no sympathy for 'parasite' rugby club Wasps

Good luck to anyone searching Coventry for sympathy about the financial implosion of Wasps, the Premiership rugby side who have been playing in that city for eight years.

www.dailymail.co.uk

Glad someone in the media has finally written some truths about this siuation. Felt sick listening to TalkSport yesterday when they were saying how this will have a huge effect on the Coventry community and leaves a big empty hole for Rugby in the area

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[Earlsdon_Skyblue1]

I know I'm as much of a bore as the Wasps PR cycle, but I've never seen so many Sky Blues Talk enemies agreeing with each other one thread as this.

It's fucking surreal.

 

[Earlsdon_Skyblue1]

What like the agreement to pay the bondholders
The agreement to pay suppliers on time
Or even just pay them
The original legal position with hmrc is to pay paye & vat by the set dates. Time to pay is a concession agreement that hmrc tells you clearly if it is not met on the terms agreed then the whole debt will be called in - hardly blindsided any one would expect hmrc to take action if they don't pay. Hmrc don't call these arrangements in unless the taxpayer breaks the terms

Some people need to take in what is in front of them. Not the spin. Very naiive and convenient to blame third parties when the responsibility to run the business properly is that of its owners and directors

You've changed your tune.

On a seperate note though, I do genuinely wonder how many wasps sympathisers will now fully jump back on board with CCFC and pretend it never happened.

 

[junglej13]

Anyone notice Les Reid active tonight on twitter for the first time in years...

 

[Calista]

You've changed your tune.

On a seperate note though, I do genuinely wonder how many wasps sympathisers will now fully jump back on board with CCFC and pretend it never happened.

FFS what do you mean he’s changed his tune? OSB58 is just telling it as he sees it, as he’s done for years and we’ve all benefitted from his specialist knowledge. You seem to be implying he’s had some sort of agenda, but I don’t think that’s ever been the case. He analyses the finances and calls out bullshit, and let’s face it there has been no shortage of that all sides.

 

[CCFC54321]

Can I be the first person on sky blues talk to be a little controversial and I say I don’t like London wasps?

 

[Calista]

Good editorial in the Mail

IAN HERBERT: There is no sympathy for 'parasite' rugby club Wasps

Good luck to anyone searching Coventry for sympathy about the financial implosion of Wasps, the Premiership rugby side who have been playing in that city for eight years.

www.dailymail.co.uk

' even the most moderate and reflective of locals'
Who can he possibly be referring to? Surely we are all true believers in the creed, or Wasps collaborators

 

[Covkid1968#]

Those collaborating turncoat blackleg Wasp sympathising People need to be welcomed back into the fold I’m afraid. Yes they prolonged the Wasps experiment but basically we need their money…. And life’s too short to fall out over something that is in reality with all the shite going on in the world…pretty trivial.
So come on back Italia…. I’m here for you man

 

[Philosoraptor]

Twitter is very interesting. You would think, as Lord Mayor, Kevin Maton would have his finger on the pulse when it comes to the public asking questions about Coventry.

Never have I seen anyone so removed from the reality of the current situation they are now facing since Jayne Innes put herself forward as a prospective candidate for a Coventry MP after those bullying allegations.

Is Kevin going to say anything today, or just retweet generic stuff?

There is a growing swell of people on Twitter commenting to Kevin each day about previous tweets made by the Lord Mayor, and then a deafening silence back.

Kevin, do you think the public now deserve an enquiry on the actions of CCC over the Arena, as you tweeted?

 

[ccfcmad1]

Had a good chuckle on the way to work this morning listening to talk sport, they had James Haskell on questioning him about the demise apparently things got that bad when he was playing they trained in the dark on many occasions as the generators we're down ice coolers down, also players striking regularly about late pay and this was going on for many years. He mentioned the bonds that players were pushing and promoting out felt guilty that he was a part of it but didn't really understand at the time!

 

[Flying Fokker]

Bbb, but, it’s nothing to do with him, it’s a private business .

 

[Brighton Sky Blue]

Had a good chuckle on the way to work this morning listening to talk sport, they had James Haskell on questioning him about the demise apparently things got that bad when he was playing they trained in the dark on many occasions as the generators we're down ice coolers down, also players striking regularly about late pay and this was going on for many years. He mentioned the bonds that players were pushing and promoting out felt guilty that he was a part of it but didn't really understand at the time!

He was probably giving them away for free in exchange for drinking beer from his crack

 

[hill83]

I know I'm as much of a bore as the Wasps PR cycle, but I've never seen so many Sky Blues Talk enemies agreeing with each other one thread as this.

It's fucking surreal.

You've changed your tune.

On a seperate note though, I do genuinely wonder how many wasps sympathisers will now fully jump back on board with CCFC and pretend it never happened.

 

[hill83]

Good editorial in the Mail

IAN HERBERT: There is no sympathy for 'parasite' rugby club Wasps

Good luck to anyone searching Coventry for sympathy about the financial implosion of Wasps, the Premiership rugby side who have been playing in that city for eight years.

www.dailymail.co.uk

Always loved the Daily Mail me

 

[Nick]

Had a good chuckle on the way to work this morning listening to talk sport, they had James Haskell on questioning him about the demise apparently things got that bad when he was playing they trained in the dark on many occasions as the generators we're down ice coolers down, also players striking regularly about late pay and this was going on for many years. He mentioned the bonds that players were pushing and promoting out felt guilty that he was a part of it but didn't really understand at the time!

Ha really? When was that on?

 

[SBS]

Twitter is very interesting. You would think, as Lord Mayor, Kevin Maton would have his finger on the pulse when it comes to the public asking questions about Coventry.

Never have I seen anyone so removed from the reality of the current situation they are now facing since Jayne Innes put herself forward as a prospective candidate for a Coventry MP after those bullying allegations.

Is Kevin going to say anything today, or just retweet generic stuff?

There is a growing swell of people on Twitter commenting to Kevin each day about previous tweets made by the Lord Mayor, and then a deafening silence back.

Kevin, do you think the public now deserve an enquiry on the actions of CCC over the Arena, as you tweeted?

I have tried to set up a petition on the councils website for an enquiry but it is still under review!

Emailed my local councillor who said the situation was very sad. Did make me laugh.