Wasps going into admin & the impact on CCFC (1 Viewer)

[olderskyblue]

I'm going to say it. Not a lot of thought went into the 'people' when uprooting a sporting team and placing them in a city 80 miles away.

Here's one of the petitions from Wasps supporters at that time.

Sign Petition: Keep Wasps RFC in/around London

Wasps RFC (formerly London Wasps) has been based in/around London since its inception in 1867. However, recent rumours have linked (2970 signatures on petition)

www.thepetitionsite.com

#AllAboutTheMoney

Anyone on here can change that to “once a wasp, now a Cov” and post it for these poor souls ?

 

[Sky Blue Harry H]

His next comment says ‘would of’.

File under thick c**t.

Sports journalist AND.... Former media and communications deputy at Nuneaton Borough FC

 

[Colin Steins Smile]

Would I be correct in my view that Wasps Holdings owns ACL?

If I'm correct then can someone clarify how ACL can continue to operate, if it's parent company is placed in administration? Or has ACL been separated from Wasps Holdings recently?

 

[hill83]

Sports journalist AND.... Former media and communications deputy at Nuneaton Borough FC

But doesn’t know his their/there’s either. Whoops.

 

[Sky Blue Harry H]

But doesn’t know his their/there’s either. Whoops.

That's why he only made Deputy?!

 

[duffer]

Would I be correct in my view that Wasps Holdings owns ACL?

If I'm correct then can someone clarify how ACL can continue to operate, if it's parent company is placed in administration? Or has ACL been separated from Wasps Holdings recently?

Yep - see a long, boring post above, by, erm... a friend.

ACL 100% owned by Wasps Holdings, and a guarantor for the £35m bondholder debt. The only way they continue operate is under new ownership, imho.

 

[hill83]

Already got an ex Cov and now ex wasps fan friend trying to worm his way back in. I’m a forgiving person but he’ll be getting stick for a long time.

 

[hill83]

That's why he only made Deputy?!

Must have shot the sheriff.

 

[Bad Boy]

I suspect there may be a few at Coventry RFC that will more than a little pleased about today's events?

 

[oldfiver]

Might well not be worth the £35m, Nick, but the bondholders will want to recover what they can for it. Hence it inevitably being sold to someone, and us getting new landlords.

As said many times elsewhere, imagine if someone came in now, bought us and the stadium and tied it all back together (even as OpCo/PropCo).

Then, with someone half-decent running the stadium, the club isn't reliant solely on a benevolent owner for income - and there's wriggle room for FFP (if that actually becomes a real thing).

It's a dream, I know, but it is within the realms of possibility for a few weeks at least.

Don't forget Compass also have a charge to satisfy

There are anecdotal estimates of £25m for refurbishment and upgrade

Whatever the value a purchaser would probably only raise 60% ltv funding

None of these lead me to think it's a worthwhile risk for SISU. Until at least someone else leads with an offer for comparison

 

[chiefdave]

My understanding and I happy to be corrected but due to the considerable work required the stadium is not valued at £35m anymore?

That's the rumour, and its a pretty strong rumour. It first came out that structural engineers were called in due to cracks being discovered, which was of course denied by Wasps but they later had to admit it was correct. I wouldn't be confident that any work was done to a high standard, if at all. It will have been the cheapest temporary fix possible.

 

[hill83]

Stephen Vaughan - “We're going to look at what life in the Championship would be like, we're going to see if there is still the appetite”

Going to assume he’s talking about his back pocket here.

 

[oldfiver]

Would I be correct in my view that Wasps Holdings owns ACL?

If I'm correct then can someone clarify how ACL can continue to operate, if it's parent company is placed in administration? Or has ACL been separated from Wasps Holdings recently?

Classic opco/ propco arrangement

 

[duffer]

Wasps back but in the Championship next season? If they do that down south, where they belong, then good luck to them.

I've got every sympathy for their original fans, and their current players and coaches, who are now in a shit position. But I never, ever, want to see them in this city again unless it's playing Cov RFC as the away team.

Wasps exclusive: 'We're all sad and angry, including me' - Stephen Vaughan

Group chief executive is among those who have been made redundant after Wasps entered into administration

www.coventrytelegraph.net

 

[fatso]

I'm going to say it. Not a lot of thought went into the 'people' when uprooting a sporting team and placing them in a city 80 miles away.

Here's one of the petitions from Wasps supporters at that time.

Sign Petition: Keep Wasps RFC in/around London

Wasps RFC (formerly London Wasps) has been based in/around London since its inception in 1867. However, recent rumours have linked (2970 signatures on petition)

www.thepetitionsite.com

#AllAboutTheMoney

Well said, in the end it was fuck all to do with the people at all, wasps let their own fans down when they fucked off and ended up 80 miles up north! They didn't give a shit about any of the fans or employees then, and they don't give a fuck now.

Do they give a fuck about their season ticket holders who are out of pocket?
Or all the bond holders?
Or fans who bought tickets in the last couple of weeks when the heigherarchy new they were about to fold ?
They were cunts years ago, and they are still cunts now.

 

[Brighton Sky Blue]

Interesting that VV booted me off the forum when not even a confirmed troll but just for being a bit too critical of Wasps.

 

[clint van damme]

Well said, in the end it was fuck all to do with the people at all, wasps let their own fans down when they fucked off and ended up 80 miles up north! They didn't give a shit about any of the fans or employees then, and they don't give a fuck now.

Do they give a fuck about their season ticket holders who are out of pocket?
Or all the bond holders?
Or fans who bought tickets in the last couple of weeks when the heigherarchy new they were about to fold ?
They were cunts years ago, and they are still cunts now.

This 'think of the people who are losing their jobs' is disingenuous bollocks.
And I haven't seen any City supporter gloating about that aspect of it anyway.

 

[chiefdave]

Wasps back but in the Championship next season? If they do that down south, where they belong, then good luck to them.

I've got every sympathy for their original fans, and their current players and coaches, who are now in a shit position. But I never, ever, want to see them in this city again unless it's playing Cov RFC as the away team.

Wasps exclusive: 'We're all sad and angry, including me' - Stephen Vaughan

Group chief executive is among those who have been made redundant after Wasps entered into administration

www.coventrytelegraph.net

The guys wanted to know, will there be a Wasps next year? Will it be the Premiership? Will it be in the Championship? How do we play a part in that?

Why's he talking about "we are going to be recouping this week. We're going to look at what life in the Championship would be like, we're going to see if there is still the appetite" when the article says he's one of the people who was made redundant?

The players will def hang around unpaid until next season when they'll be on championship level wages, they won't be signing for the first club that makes them an offer.

Delusional until the end.

 

[hill83]

This 'think of the people who are losing their jobs' is disingenuous bollocks.
And I haven't seen any City supporter gloating about that aspect of it anyway.

Feel like I need to caveat everything I say with that today.

“Obviously I feel bad for all the staff who were a part of wasps, but I’m off for a turd”

 

[Liquid Gold]

His next comment says ‘would of’.

File under thick c**t.

Now you've turned half the forum against you

 

[hill83]

Now you've turned half the forum against you

Should of thunk before I posted.

 

[rob9872]

Can we rearrange the wording in the dark blue seats now? I have a few suggestions.

 

[fernandopartridge]

His next comment says ‘would of’.

File under thick c**t.

Jesus wept

Sent from my SM-G935F using Tapatalk

 

[Ian1779]

Anne Lucas said to be distraught….

 

[M&B Stand]

Anne Lucas said to be distraught….

View attachment 26660

No longer washing its face.

 

[shepardo01]

Anne Lucas said to be distraught….

View attachment 26660

Brilliant!!!!!

 

[jordan210]

"
- HMRC called in the balance on their debt despite a payment plan that was being followed as agreed
- HSBC reneged on financing at the Eleventh Hour
- pre-covid the group had 6 months of breakeven months

"

So it was HMRC's, HSBC and coves fault not anyone at wasps

Wasps exclusive: 'We're all sad and angry, including me' - Stephen Vaughan

Group chief executive is among those who have been made redundant after Wasps entered into administration

www.coventrytelegraph.net

 

[procdoc]

Feel sorry for the 170 people who lost their jobs today. But fuck Wasps, good riddance

 

[Terry Gibson's perm]

Wonder how the Higgs “charity” are feeling lost all that income from the tickets in the stand, must have been at least twenty pounds per season

 

[Terry Gibson's perm]

Feel sorry for the 170 people who lost their jobs today. But fuck Wasps, good riddance

Some of them but some will have been the architects of the down fall.

 

[Liquid Gold]

 

[Grendel]

"
- HMRC called in the balance on their debt despite a payment plan that was being followed as agreed
- HSBC reneged on financing at the Eleventh Hour
- pre-covid the group had 6 months of breakeven months

"

So it was HMRC's, HSBC and coves fault not anyone at wasps

Wasps exclusive: 'We're all sad and angry, including me' - Stephen Vaughan

Group chief executive is among those who have been made redundant after Wasps entered into administration

www.coventrytelegraph.net

Vaughans lack of grip on reality is extraordinary

 

[Paul Anthony]

"
- HMRC called in the balance on their debt despite a payment plan that was being followed as agreed
- HSBC reneged on financing at the Eleventh Hour
- pre-covid the group had 6 months of breakeven months

"

So it was HMRC's, HSBC and coves fault not anyone at wasps

Wasps exclusive: 'We're all sad and angry, including me' - Stephen Vaughan

Group chief executive is among those who have been made redundant after Wasps entered into administration

www.coventrytelegraph.net

Of course it was. The whole way along it's been everyone else fault but theirs.

 

[Gynnsthetonic]

Well, ACL 2006 have 10 working days to find a buyer, if that doesn't happen and they go bump too what happens then?
Will Sisu show an interest, a big couple of weeks coming up especially with 3 home games on the trot coming up

 

[Terry Gibson's perm]

Vaughans lack of grip on reality is extraordinary

People like him have to kept an eye on in the future you wouldn’t want him rocking up somewhere and helping fuck them up as well (unless he went down the m69and helped those mutants)