Wasps going into admin & the impact on CCFC (149 Viewers)

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Colin Steins Smile

Colin Steins Smile

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Whilst funding has been denied.......is the council considering waiving any fees due?? Not sure that they are due anything, but even if they are it'll only be a minor figure in the whole debt issue of circa £50m+
 
B

Brighton Sky Blue

Well-Known Member
Liquid Gold said:
"no decision to be taken tonight" still worries me

Implies there could be a decision in future.

Although maybe not on funding them as that has been so emphatically denied.
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They hoped to smuggle something through, got swamped with criticism so taken the weekend to consider how to dress it up as something else
 
R

rexo87

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Liquid Gold said:
But if it's true that admin kicks in on Monday won't it be too late?
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Seems like it bit still worried they'll somehow do something. Comforting that there'd at least a few councillors with their head screwed on and thank fuck someone leaked this meeting to Gilbert

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Gynnsthetonic

Gynnsthetonic

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Gary Ridley came across very well just then on CWR, dead against any bail out. Spoke well not like Duggiins who talks like a male Anne Lucas
 
MusicDating

MusicDating

Euro 2016 Prediction League Champion!!
www.theguardian.com

Premiership Rugby not ruling out more clubs being suspended over finances

Premiership Rugby has refused to rule out more clubs joining Worcester and Wasps in being suspended from the league on financial grounds
www.theguardian.com www.theguardian.com

'The governing body has also detailed its reasons against allowing Worcester and Wasps to keep their P shares – which entitle clubs to a percentage of the leagues’s income as well as voting rights on key issues – saying “we have to be strong on this and we will be strong”. That stance appears to deliver a hammer blow to Wasps, who are hoping to achieve a quick takeover on the understanding they will not lose their P shares. Without a quick takeover there are fears Wasps, who are due to enter administration on Monday, will go bust.'

and

'PRL also sought to warn against any expectations that Worcester will make a swift return to the Premiership and suggested the same will go for Wasps unless a takeover can be achieved quickly. It is thought that Wasps must be in position to play their next home game, on 30 October, to avoid suspension for the rest of season. Saturday’s match against Exeter has already been called off and it is understood broadcasters BT Sport have already made alternative arrangements for Wasps’ televised fixture against Leicester on 23 October, suggesting that match will also be scrapped.

Supporters of Wasps and Worcester have launched campaigns urging the other clubs not to invoke their right to buy their P shares, which guarantees central funding and a share of broadcast revenue. The bid for Wasps by a consortium led by the former chief executive David Armstrong is thought to be dependent on the club holding on to its P shares but the PRL chairman, Martyn Phillips, outlined the difficulties in allowing them to do so.

“There is a scenario where a club could just write off all of its debt,” he said. “But then if it retains its P share you then have a league where the vast majority of teams still have significant debt, playing against a team that has no debt but retains the same income as them from the P share. So you have another form of disruption and inequality.

“If we think about it, those teams are very likely to go into the Championship. If they go into the Championship, but then don’t get promoted back to the Premiership, they have to sell that P share. So they could sell that P share at a sizeable profit. So we could sleepwalk into another situation where an owner has acquired something for an amount and sold it for quite a bit more. We have to be strong on this and we will be strong.”'
 
Grendel

Grendel

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Where is @shmmeee - seems to have missed this thread?
 
L

Levship20

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Im not sure this has totally gone away and believe that the meeting was requested by MR but not the MR we know and love! MR & GD will be talking between now and Monday, that is for sure.
 
Flying Fokker

Flying Fokker

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Colin Steins Smile said:
What I find really strange is the game of rugby has traditionally been the sport of the public schooled "toffs" and something more aligned to the Conservatives. Whilst football is/was the game of the working people and much closer to the Labour party.

So why the Coventry Labour group [supported at the time by the Conservatives] chose to support Wasps [foreign registered Hedge fund] is bizarre. As opposed to supporting the CCFC [foreign registered Hedge Fund].

These are strange times......only 2 more Conservative Chancellors before Christmas?
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Because SISU were more problematic up to the point of sale?
 
Grendel

Grendel

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Levship20 said:
Im not sure this has totally gone away and believe that the meeting was requested by MR but not the MR we know and love! MR & GD will be talking between now and Monday, that is for sure.
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people should bombard reeves twitter feed to just give him a taste of tbe strength of feeling
 
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