Wasps going into admin & the impact on CCFC (5 Viewers)

[Sky Blue Pete]

Can’t see any way Sisu will purchase the lease

For why? I don’t either just interested

 

---

[Bernie Rhodes Nose]

This is a major problem, isn't it. I know I keep banging on about the fantasy stadium, but where is the incentive to even try and do a deal with SISU, as long as they pursue their folly?

Maybe they mean they will sell within that time

 

[Brighton Sky Blue]

@Brighton Sky Blue see your laughing. Just wait. Come tomorrow when a statement is released where staff for ACL are not available after being laid off.

It wasn't a pun? 'Behind closed doors'?

 

[wingy]

Well time to overload George's email account isn't it , for another expansive answer .
Yes.

 

[Nick]

Well time to overload George's email account isn't it , for another expansive answer .
Yes.

I asked at the start of the week. He said things are changing every day and they are working with ccfc.

 

[Sky Blue Pete]

I asked at the start of the week. He said things are changing every day and they are working with ccfc.

He loves you ask again for some specifics

 

[Old Warwickshire lad]

Still annoyed I wasn’t allowed a flask of tea in the ground last night. they’d probably confiscate your babybel for being a potential missile.

Since when did they decide no flasks ?Last season it was allowed.
At my age I needs me cuppa when the weather turns.

 

[Bernie Rhodes Nose]

Update from my Gilbert leak mate:

Rumour abound at the council that when admin happens SISU are in pole position

Americans have been in and around the council house having meetings,nothing to do with Dawkins made up yank, American SISU investors. Were also at the game last night

Someone could of course usurp, but turns out no one is interested at the mo



Maybe those on here who said SISU have been quiet for a reason were right.

Imagine......

If your correct they will build a statue of you (next to Joy) outside the CBS.

 

[SkyblueDad]

Stadium staff. Big possibility game will either be cancelled or be behind closed doors

Was stated recently 200 staff have transferred to CCFC.

 

[Sky Blue Harry H]

With the £££s due to flow in on Saturday and Tuesday, I can't believe that those with the power to make things happen won't be able to get their act together to ensure the games go ahead. Madness if not.

 

[SomersetSB]

Be great business for the cafe there.

Still get a better chance of being served too!!

 

[Terry Gibson's perm]

If it’s behind closed doors I take it the Warwick and Leamington supporters club will get in with no problem

 

[shmmeee]

Sisu being a part owner of the stadium (example ) suddenly means the football club is worth money and a sellable asset doesn't it?

Thats the hope. Not sure why someone would wait for that and not get the stadium now though.

 

[shmmeee]

Flasks

I know what you mean and I’m only 41! Got turned away at the turnstiles with my thermos yesterday, luckily I’m only in the car park so could just drop it back. “No bottles” they said.

 

[Gynnsthetonic]

Thats the hope. Not sure why someone would wait for that and not get the stadium now though.

Well how much is it worth now or next Monday,

 

[pusbccfc]

Behind closed doors would be awful. Get it played somewhere else.

 

[shmmeee]

Unless the council want to spend a long time in court again, I think the lease has to go to the bondholders, for it to be sold on their behalf - they have a mortgage on it.

That's unless ACL really does go for voluntary liquidation, in which case the liquidator can disclaim the lease. Are they really saying that a business which includes a hotel and casino lease (and share of the takings for the latter) has no chance of trading profitably? This sounds dubious to me....

Sorry i left that out, I suspect admin is the councils preferred route so no messy decisions to take, but why would anyone pick it up with a massive debt when they can just let it liquidate and go back to the council? Not just Sisu but anyone at all?

 

[shmmeee]

Well how much is it worth now or next Monday,

Well whenever. Surely by letting it go to Sisu you weaken your hand? Basic Monopoly innit?

 

[Brighton Sky Blue]

Well whenever. Surely by letting it go to Sisu you weaken your hand? Basic Monopoly innit?

We've been waiting for Wasps to land on our Mayfair hotel for 8 years. Game always goes on too bloody long.

 

[MusicDating]

I know what you mean and I’m only 41! Got turned away at the turnstiles with my thermos yesterday, luckily I’m only in the car park so could just drop it back. “No bottles” they said.

They should have checked the thermos contents and let you in -

NEWS: Matchday Guide vs Rotherham United

Coventry City host Rotherham United on Tuesday night, with the matchday guide for the game now available.

www.ccfc.co.uk

 

[Terry Gibson's perm]

They should have checked the thermos contents and let you in -

NEWS: Matchday Guide vs Rotherham United

Coventry City host Rotherham United on Tuesday night, with the matchday guide for the game now available.

www.ccfc.co.uk

View attachment 26814

I wonder who was the last person who tried to enter the ground with a picnic.

 

[Sky Blue Pete]

They should have checked the thermos contents and let you in -

NEWS: Matchday Guide vs Rotherham United

Coventry City host Rotherham United on Tuesday night, with the matchday guide for the game now available.

www.ccfc.co.uk

View attachment 26814

Happened in front of us they checked and let them in. Be insistent next time @shmmee

 

[Ccfcsj]

They should have checked the thermos contents and let you in -

NEWS: Matchday Guide vs Rotherham United

Coventry City host Rotherham United on Tuesday night, with the matchday guide for the game now available.

www.ccfc.co.uk

View attachment 26814

I always take a flask of tea in with me. Never been stopped.

 

[CCFC54321]

I wonder who was the last person who tried to enter the ground with a picnic.

If we play on a Sunday lunch time in the future would you be allowed in with full Sunday roast under foil? (party plate obviously)

Asking for a friend.

 

[HuckerbyDublinWhelan]

Sorry i left that out, I suspect admin is the councils preferred route so no messy decisions to take, but why would anyone pick it up with a massive debt when they can just let it liquidate and go back to the council? Not just Sisu but anyone at all?

I don’t understand what sane person would buy it currently. I may be wrong but if it’s picked up in admin, as the bond is a charge - aren’t you on the hook for the full whack?

every Investor is literally Better off waiting for liquidation and trying to negotiate a new lease with the council and have a complete clean slate

 

[CCFC54321]

I don’t understand what sane person would buy it currently. I may be wrong but if it’s picked up in admin, as the bond is a charge - aren’t you on the hook for the full whack?

every Investor is literally Better off waiting for liquidation and trying to negotiate a new lease with the council and have a complete clean slate

Wasps fans on Twitter hopeful that an investor will come in at the last minute and plough £453,000,000,0000,000,000 into wasps just like that and they keep the CBS. I had a little giggle.

 

[HuckerbyDublinWhelan]

Wasps fans on Twitter hopeful that an investor will come in at the last minute and plough £453,000,000,0000,000,000 into wasps just like that and they keep the CBS. I had a little giggle.

I hope SISU takeover purely to end the little hope they have of still being linked to the CBS.

the sooner we can rip out”WASPS” from the seat and the badges, the better

 

[Brylowes]

Still annoyed I wasn’t allowed a flask of tea in the ground last night. they’d probably confiscate your babybel for being a potential missile.

Well you will insist on using that 50/50 CCFC - Rangers FC thermos flask

 

[junglej13]

Still annoyed I wasn’t allowed a flask of tea in the ground last night.

 

[duffer]

Sorry i left that out, I suspect admin is the councils preferred route so no messy decisions to take, but why would anyone pick it up with a massive debt when they can just let it liquidate and go back to the council? Not just Sisu but anyone at all?

Fair enough, but I still don't see quite how that plays out. At the moment ACL have an asset of value, the lease. The liquidator/administrator's legal duty is to recover as much as possible for the creditors (bondholders first, then HMRC, then everyone else, iirc). He can't do that if he immediately disclaims the lease.

SISU broke the lease when we went into admin because it was a cost to the business, but to ACL it's a benefit. It's not in the creditors best interest for it to be ditched by the administrator/liquidator, in fact I think it might open them up to legal action.

Just mho of course... I wish I hadn't given up my season ticket at the Old Bailey now, I had seats on the half-way line and everything...

Company Administration Process Explained [2024 Guide] - Francis Wilks & Jones

Learn about the company administration process and how FWJ can help with business rescue and creditor negotiations. Expert guidance for directors and insolvency issues.

www.franciswilksandjones.co.uk

 

[duffer]

Happened in front of us they checked and let them in. Be insistent next time @shmmee

Maybe they looked more respectable than @shmmeee

 

[Calista]

Can’t see any way Sisu will purchase the lease

Presumably this is the 250 year lease you are talking about, the one that Sisu were furious was never made available to them before?

Do you mean they wouldn’t want it or that they can’t afford it, at least on their own?

A couple of months ago Sisu were reported in The Times to be angling for third party investors to buy the club along with the Arena lease, but that was mostly dismissed on here as some sort of posturing IIRC.

 

[robbiethemole]

View attachment 26816

That looks remarkably like a thermonuclear device

 

[Brighton Sky Blue]

Wasps fans on Twitter hopeful that an investor will come in at the last minute and plough £453,000,000,0000,000,000 into wasps just like that and they keep the CBS. I had a little giggle.

 

[letsallsingtogether]

Aren’t there food and beer things outside already?

There has been for the last 2 home games.
Burger stall cookie stall and 2 bars,
In the smoking area by block 18 open at half time not sure about other parts of the ground.