Wasps going into admin & the impact on CCFC (6 Viewers)

[Grendel]

Hottinger also were a shirt sponsor of wasps last season

Hottinger have been a finance arm of Wasps and Moonstone.

Hottinger Group - Derek Richardson - The Hottinger Group

hottinger.co.uk

Richardson has a share holding in some shell company - Hottinger Arts Collection Ltd

There was some resignations a while ago in the Group and Richardson seems to then have fallen out with them

 

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[Nick]

So Hottinger have been a sponsor of Wasps. CEO was a Director until last year.

Cant see any conflict of interest that CCC started tot talk to them to get a deal done.

Wonder who approached who...

Wonder if this guy knows Richardson? PADRAIC O GIOLLAIN | ICIJ Offshore Leaks Database

Edit: Grendel confirmed it.

 

[jordan210]

Hottinger have been a finance arm of Wasps and Moonstone.

Hottinger Group - Derek Richardson - The Hottinger Group

hottinger.co.uk

Richardson has a share holding in some shell company - Hottinger Arts Collection Ltd

There was some resignations a while ago in the Group and Richardson seems to then have fallen out with them

Good find.

Gets dirtier and dieter the more you Dig for Reeves.

Wonder who approached who.

 

[skyblueeyesrevisited]

Constant boring talk going on and on about Reeves this, Duggins that Jesus !! Bottom line.
Do you want “big” Mike to be successful in acquiring the stadium ?

Not if it is detrimental to the football club

 

[Philosoraptor]

can anyone summarise the last weeks events?

 

[Nick]

It's almost as if Reeves was desperate to keep the stadium with some form of Wasps involvement.

Do we still think Wasps are completely gone and Richardson isn't going to be involved?

Do we still think this wasn't engineered to make sure a particular party was the "only show in town"?

 

[Sick Boy]

Not sure if it's being mentioned.

The Hottinger CEO was also a director of Wasps Holdings.

So Reeves has literally paired up with somebody involved with Wasps to try and agree a bailout.

Also a director of a company with Jade from little mix.

Fucking disgrace

 

[fernandopartridge]

45p in the £ gets a bondholder 90% or so of their investment back?

£100k investment
7 years of interest at 6.5% = £45k + £45k

 

[Liquid Gold]

45p in the £ gets a bondholder 90% or so of their investment back?

£100k investment
7 years of interest at 6.5% = £45k + £45k

That's a big win for them given the situation imo.

 

[Sick Boy]

It's almost as if Reeves was desperate to keep the stadium with some form of Wasps involvement.

Do we still think Wasps are completely gone and Richardson isn't going to be involved?

Do we still think this wasn't engineered to make sure a particular party was the "only show in town"?

Anyone who thinks the Franchise are completely gone is naive at best.

 

[fernandopartridge]

Anyone who thinks the Franchise are completely gone is naive at best.

I genuinely think they are - Richardson would no doubt be happy to be shot of them himself

 

[robbiekeane]

Dickheads all of you

 

[tisza]

Not sure if it's being mentioned.

The Hottinger CEO was also a director of Wasps Holdings.

So Reeves has literally paired up with somebody involved with Wasps to try and agree a bailout.

Also a director of a company with Jade from little mix.

Don't see how Reeves can fudge this in context of the statements from a couple of weeks ago

 

[Sky Blue Pete]

It's almost as if Reeves was desperate to keep the stadium with some form of Wasps involvement.

Do we still think Wasps are completely gone and Richardson isn't going to be involved?

Do we still think this wasn't engineered to make sure a particular party was the "only show in town"?

Absolutely still involved I’m sure

 

[HuckerbyDublinWhelan]

Anyone who thinks the Franchise are completely gone is naive at best.

I think they are. Even Shugs seems to have accepted that. They all want out

 

[Nick]

I think they are. Even Shugs seems to have accepted that. They all want out

That's the thing though, that's the fans saying it.

What happens to the big empty training ground in Henley?

 

[Earlsdon_Skyblue1]

It's almost as if Reeves was desperate to keep the stadium with some form of Wasps involvement.

Do we still think Wasps are completely gone and Richardson isn't going to be involved?

Do we still think this wasn't engineered to make sure a particular party was the "only show in town"?

It isn't 'almost as if' anything. It is exactly what you say it is.

The only difference this time is that the general public and even a couple of journalists have clued up to what's going on. The power has gone to the heads of Richardson, Reeves, Duggins etc, and they've got bolder. The problem is that they don't know when to stop and more or less think they can get away with anything they want. It's the same psychological pattern that gets serial killers caught.

The rapid response emails to people denying bailout meetings was one of the most recent big red flags for me, and a sign they are desperate to cling onto this project at any cost. Lying to constituents en masse like that shows some serious recklessness, and I just hope in this case that there are proper ramifications for the people involved. As an absolute minimum they should be removed from council.

 

[skyblueeyesrevisited]

I am not one to stick up for the council but realistically how could a CEO carry out his role effectively if he needed prior permission from the leader of the council in relation to any conversation? I think Gilbert is being a bit obtuse on this.

I don’t think anyone is implying he needed Duggins permission. The point is we are being led to believe Duggins knew nothing about it. I personally do not believe there hadn’t been dialogue between the two.

 

[NortonSkyBlue]

Nigel Hawthorne-a Coventrian

 

[HuckerbyDublinWhelan]

That's the thing though, that's the fans saying it.

What happens to the big empty training ground in Henley?

Don’t think they’re gone from the Midlands - Coventry, think they’re done

 

[Philosoraptor]

I don’t think anyone is implying he needed Duggins permission. The point is we are being led to believe Duggins knew nothing about it. I personally do not believe there hadn’t been dialogue between the two.

I wonder if anyone could make a freedom of information request to see the communication between the pair. Sure, the council would need to keep records.

 

[rexo87]

They're going to be in the championship with gates of less than 2k
They cant even play until next season at best (they currently dont have any owners)
The backlash would be massive if the council let them back in

I can't see any way we see Wasps back in Cov whatsoever. I understand we always think the worst as we usually get shit on but if you look at the facts i cant see any way they stay in the city

 

[zuni]

As a simple man, why would Richardson veto the proposed 60m refinance if its own merry gang? So confused

 

[HuckerbyDublinWhelan]

That's the thing though, that's the fans saying it.

What happens to the big empty training ground in Henley?

The EPIC is also as close to Birmingham as it is Coventry and a straight road to Oxford

 

[fernandopartridge]

I don’t think anyone is implying he needed Duggins permission. The point is we are being led to believe Duggins knew nothing about it. I personally do not believe there hadn’t been dialogue between the two.

Yeah, fair enough and I agree with you it is unrealistic. I suppose the council are using the defence that the only way they make decisions is through formal processes!

 

[shmmeee]

Still think Wasps will be at the CBS next season.

 

[SHUNT31]

The EPIC is also as close to Birmingham as it is Coventry and a straight road to Oxford

There were rumours months ago they were looking at the Alexandra Stadium in Brum.

 

[Nick]

It isn't 'almost as if' anything. It is exactly what you say it is.

The only difference this time is that the general public and even a couple of journalists have clued up to what's going on. The power has gone to the heads of Richardson, Reeves, Duggins etc, and they've got bolder. The problem is that they don't know when to stop and more or less think they can get away with anything they want. It's the same psychological pattern that gets serial killers caught.

The rapid response emails to people denying bailout meetings was one of the most recent big red flags for me, and a sign they are desperate to cling onto this project at any cost. Lying to constituents en masse like that shows some serious recklessness, and I just hope in this case that there are proper ramifications for the people involved. As an absolute minimum they should be removed from council.

The thing is, there's absolutely fuck all that anybody can do about it now.

The PR tide has turned but realistically I think as soon as it "goes through" and is confirmed as sold there will be a massive backlash.

If people have NDAs, do they expire once the deal is done or are they for life etc?

 

[fernandopartridge]

Dickheads all of you

We've got fuck all to talk about for a month

 

[Sky Blue Pete]

They're going to be in the championship with gates of less than 2k
They cant even play until next season at best (they currently dont have any owners)
The backlash would be massive if the council let them back in

I can't see any way we see Wasps back in Cov whatsoever. I understand we always think the worst as we usually get shit on but if you look at the facts i cant see any way they stay in the city

Ashley and parties actively looking to appeal decision and play in premiership from next year would suggest there’s lots still to play out

 

[shmmeee]

Yeah, fair enough and I agree with you it is unrealistic. I suppose the council are using the defence that the only way they make decisions is through formal processes!

I just can’t believe someone suggested the council putting that level of cash in and was told to crack on. At best I can see a “go see what you can do” conversation and Reeves has gone off on one.

Other possibilities: it was a short term loan until a buyer was found, but again why? Just delaying the inevitable and no guarantees you’d get the money back.

Will be interesting to see what Reeves says.

 

[rexo87]

Ashley and parties actively looking to appeal decision and play in premiership from next year would suggest there’s lots still to play out

You think/know that Ashley wants Wasps?

 

[Nick]

You think/know that Ashley wants Wasps?

It would depend who else is involved with the CBS....

 

[Sky Blue Pete]

You think/know that Ashley wants Wasps?

No knows the rumour doing the rounds is discussions between his group and the group buying wasps holdings yes

 

[shmmeee]

You think/know that Ashley wants Wasps?

He first got involved offering to refinance the bond didn’t he? He’s shown more interest in Wasps than CCFC from what I can see.