Wasps going into admin & the impact on CCFC (42 Viewers)

tisza · Oct 14, 2022

shepardo01 said:
Duggins reply "I can only speak on behalf of CCC" hints at a bailout coming from elsewhere... we know the WM combined authority links..... !!

Don't see any official body will step in. Would open such a political can of worms.
1.so many businesses might have survived COVID with extra help.
2. So many businesses (and constituents!!) facing real difficulties due to rising costs especially energy bills right now. Does a rugby team with a multimillionaire owner deserve preferential treatment? Especially one that has historically struggled financially.

Just a few of questions any official help would have to explain away.

clint van damme · Oct 14, 2022

shepardo01 said:
Duggins reply "I can only speak on behalf of CCC" hints at a bailout coming from elsewhere... we know the WM combined authority links..... !!

Surely any bail out would only be a sum similar to the working capital they were after which was 12 million wouldn't it?
They're just kicking the can down the road aren't they?

Gynnsthetonic · Oct 14, 2022

Derby in admin for nearly a year, played all their games still at PP

duffer · Oct 14, 2022

On the BT rugby show tonight, they are saying that Wasps players have been told that they are free to look for other clubs.

Now it could be that they're confusing it with the Worcester issue but if that's really the case then it has to be game over for them in terms of administration.

tisza · Oct 14, 2022

SHUNT31 said:
It’s just dawned on me that Les Reid was right all along….

Fucking hell

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Les Reid (and to a point Simon Gilbert) took huge amounts of flak and some very dubious tactics to undermine their credibility.

SHUNT31 · Oct 14, 2022

tisza said:
Les Reid (and to a point Simon Gilbert) took huge amounts of flak and some very dubious tactics to undermine their credibility.

I agree. And it’s quite clear that Simon wasn’t the problem at the time, but it was in fact his employer the Cov Tel. But we all know that.

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Gynnsthetonic · Oct 14, 2022

shepardo01 said:
Duggins reply "I can only speak on behalf of CCC" hints at a bailout coming from elsewhere... we know the WM combined authority links..... !!

Surely not!

Senior Vick from Alicante · Oct 14, 2022

tisza said:
Don't see any official body will step in. Would open such a political can of worms.
1.so many businesses might have survived COVID with extra help.
2. So many businesses (and constituents!!) facing real difficulties due to rising costs especially energy bills right now. Does a rugby team with a multimillionaire owner deserve preferential treatment? Especially one that has historically struggled financially.

Just a few of questions any official help would have to explain away.

That was time limited and i think the offer has now expired as it was only for the building of the planned hotel?

Tile Hill Phil · Oct 14, 2022

hutch1972 said:
That is exactly what has happened. They realise how bad this would have looked.

Fucking wankers to even contemplate a meeting on the first place

duffer · Oct 14, 2022

duffer said:
On the BT rugby show tonight, they are saying that Wasps players have been told that they are free to look for other clubs.

Now it could be that they're confusing it with the Worcester issue but if that's really the case then it has to be game over for them in terms of administration.

Madness to reply to yourself, I know, but I've just rewound and listened again and they are definitely talking about Wasps.

Exact words:

"... The players have been told they can look for other opportunities"

Bad Boy · Oct 14, 2022

chiefdave said:
Always amazes me that with all the things that have gone on at the council during his time, not particularly CCFC / Wasps related there's been some far more serious things, nothing ever seems to come back on him. He keeps bumbling along fucking things up collecting a huge pay cheque.

The buck stops further down, much further down his pay scale.

jordan210 · Oct 14, 2022

Saddlebrains said:
Are we in a parrallel universe?

Am i that steaming im seeing things?

Or maybe just maybe, has the complete backlash today amongst the tide of opinion across coventry towards the nomadic slint fuckers made the tossers at the council realise by getting into bed with CCFC they can right some wrongs?

View attachment 26592

CCC will probs bail out wasps and claim it’s so we can continue to play at the cbs

tisza · Oct 14, 2022

Senior Vick from Alicante said:
That was time limited and i think the offer has now expired as it was only for the building of the planned hotel?

More about the rumours today that certain council figures might be trying to sort something out now.
Various other previous funds availability have disappeared as Wasps couldn't find the financing for the projects these funds were linked to.

tisza · Oct 14, 2022

duffer said:
Madness to reply to yourself, I know, but I've just rewound and listened again and they are definitely talking about Wasps.

Exact words:

"... The players have been told they can look for other opportunities"

Pretty much same thing happened at Worcester. Problem for the players most teams don't have the money/cap space to take on new players. A few will find new clubs butany will have to wait and see what happens with Wasps.

duffer · Oct 14, 2022

tisza said:
Les Reid (and to a point Simon Gilbert) took huge amounts of flak and some very dubious tactics to undermine their credibility.

Yes he did, and Reid had the bottle to face down the CET and subsequently expose all this at his employment tribunal.

It painted both the council and the CET in a shockingly bad light, and frankly I wouldn't trust either organisation further than I could spit a rat.

MAFF · Oct 14, 2022

Senior Vick from Alicante · Oct 14, 2022

tisza said:
More about the rumours today that certain council figures might be trying to sort something out now.
Various other previous funds availability have disappeared as Wasps couldn't find the financing for the projects these funds were linked to.

One would think that the only reason the council would get involved as the free holder would to keep the stadium open and operational.

SuperFred · Oct 14, 2022

Wasps kit man suggesting it might not be all doom and gloom over there? I might be reading too much into it.

steve cooper · Oct 14, 2022

robbiethemole said:
You'd have thought by close of business on Monday, maybe 5pm?

My understanding is that Administration will occur on Wednesday if no bail out happens. Monday is the day HMRC issue a winding-up action if the taxes are not paid. I assume that between close of business on Monday and Wednesday at 3.25 ?? if a bailout occurs then HMRC could cancel the winding-up action. Not sure this is accurate but that's my understanding.

tisza · Oct 14, 2022

duffer said:
Yes he did, and Reid had the bottle to face down the CET and subsequently expose all this at his employment tribunal.

It painted both the council and the CET in a shockingly bad light, and frankly I wouldn't trust either organisation further than I could spit a rat.

CET credibility been on a downhill for ages. Comes across that paid advertising can buy you certain favours.

Tile Hill Phil · Oct 14, 2022

theferret said:
Spare a thought for Cllr Kevin Maton tonight. Worst week of his life.

Liquid Gold · Oct 14, 2022

Nah, apparently it's all the other PL rugby club's fault.

Must be sisu telling them to shaft Wasps.

Joy must have stayed on after our game at Ashton Gate last week to make sure Lansdown forced them to get into unsustainable debt over 8 years.

SHUNT31 · Oct 14, 2022

SuperFred said:
Wasps kit man suggesting it might not be all doom and gloom over there? I might be reading too much into it.

I do honestly think they’ll be saved, one way or another.

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Liquid Gold · Oct 14, 2022

duffer said:
Yes he did, and Reid had the bottle to face down the CET and subsequently expose all this at his employment tribunal.

It painted both the council and the CET in a shockingly bad light, and frankly I wouldn't trust either organisation further than I could spit a rat.

Yeah Reid can be said to be hard done by.

Gilbert was happy to walk into his job and tow the line for long enough. It's only since he moved to the BBC he's decided to do a bit of journalism.

Philosoraptor · Oct 14, 2022

steve cooper said:
My understanding is that Administration will occur on Wednesday if no bail out happens. Monday is the day HMRC issue a winding-up action if the taxes are not paid. I assume that between close of business on Monday and Wednesday at 3.25 ?? if a bailout occurs then HMRC could cancel the winding-up action. Not sure this is accurate but that's my understanding.

If your understanding is correct, the big question is, will ACL (2006) have a winding-up order against it, or just the other parts of the group of companies?

SHUNT31 · Oct 14, 2022

steve cooper said:
My understanding is that Administration will occur on Wednesday if no bail out happens. Monday is the day HMRC issue a winding-up action if the taxes are not paid. I assume that between close of business on Monday and Wednesday at 3.25 ?? if a bailout occurs then HMRC could cancel the winding-up action. Not sure this is accurate but that's my understanding.

So the meeting on now being on Monday actually changes nothing.

Them rats are going to do all they can to stop this from happening.

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tisza · Oct 14, 2022

Liquid Gold said:
Nah, apparently it's all the other PL rugby club's fault.

Must be sisu telling them to shaft Wasps.

Joy must have stayed on after our game at Ashton Gate last week to make sure Lansdown forced them to get into unsustainable debt over 8 years.

All of them are in the proverbial shit.
They are going to look after number 1.
If the TV revenue can be divided by 2 less clubs then other clubs might survive.
RFU hasn't got any money. Already cut funding to various national teams. Cut funding to Championship clubs Inc Cov rugby.
None of these people complaining seem to be able to see the overview of professional rugby finances. This notion of a rugby family disappeared when it became a professional sport.

Liquid Gold · Oct 14, 2022

tisza said:
All of them are in the proverbial shit.
They are going to look after number 1.
If the TV revenue can be divided by 2 less clubs then other clubs might survive.
RFU hasn't got any money. Already cut funding to various national teams. Cut funding to Championship clubs Inc Cov rugby.
None of these people complaining seem to be able to see the overview of professional rugby finances. This notion of a rugby family disappeared when it became a professional sport.

How do France/Ireland make a go of it though? Just more interest?

duffer · Oct 14, 2022

tisza said:
Pretty much same thing happened at Worcester. Problem for the players most teams don't have the money/cap space to take on new players. A few will find new clubs butany will have to wait and see what happens with Wasps.

Yep. The point I was trying to make though is that Wasps wouldn't be telling players to look elsewhere if they thought there was any chance of avoiding adminstration.

Sounds like they've accepted the inevitable now.

hutch1972 · Oct 14, 2022

tisza said:
Pretty much same thing happened at Worcester. Problem for the players most teams don't have the money/cap space to take on new players. A few will find new clubs butany will have to wait and see what happens with Wasps.

I believe Cov have taken 2 Worcester players this week.

tisza · Oct 14, 2022

Liquid Gold said:
How do France/Ireland make a go of it though? Just more interest?

France is rich owners and a huge TV contract but they are cutting salary cap due to finances . Their attendances etc do seem to be on a par with English league.
Irish RFU provides majority of funding to their 4 teams.

Liquid Gold · Oct 14, 2022

"It's a disgrace to take our P share away, what happened to the rugby family"

You voted to make the Premiership a closed shop. What happened to the rugby family then?

Hypocrites the lot of them. They just want to be treated special because they think they're big time.

shepardo01 · Oct 14, 2022

SuperFred said:
Wasps kit man suggesting it might not be all doom and gloom over there? I might be reading too much into it.

Oh FFS.... somebody is going to bend over for them aren't they.....

MalcSB · Oct 14, 2022

shepardo01 said:
Duggins reply "I can only speak on behalf of CCC" hints at a bailout coming from elsewhere... we know the WM combined authority links..... !!

He could be suggesting that a bailout will come, eventually from NEC, Ashley or Dawkins and co. and he can’t speak on thier behalf.

steve cooper · Oct 14, 2022

MalcSB said:
He could be suggesting that a bailout will come, eventually from NEC, Ashley or Dawkins and co. and he can’t speak on thier behalf.

Or he could just not know

Wasps going into admin & the impact on CCFC (42 Viewers)

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