Wasps going into admin & the impact on CCFC (8 Viewers)

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Bernie Rhodes Nose

Bernie Rhodes Nose

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Saddlebrains said:
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......
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If your correct they will build a statue of you (next to Joy) outside the CBS.
 
Sky Blue Harry H

Sky Blue Harry H

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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.
 
pusbccfc

pusbccfc

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

shmmeee

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duffer said:
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....
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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?
 
MusicDating

MusicDating

Euro 2016 Prediction League Champion!!
shmmeee said:
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.
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They should have checked the thermos contents and let you in -

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Terry Gibson's perm

Terry Gibson's perm

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H

HuckerbyDublinWhelan

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shmmeee said:
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?
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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
 
C

CCFC54321

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HuckerbyDublinWhelan said:
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
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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.
 
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HuckerbyDublinWhelan

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CCFC54321 said:
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.
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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
 
duffer

duffer

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shmmeee said:
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?
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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... 😁

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Calista

Calista

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Grendel said:
Can’t see any way Sisu will purchase the lease
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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.
 
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