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They have outside auditors that have access to monthly accounts and tell them if they are living beyond their means and then recommends the action needed to bring them back in line. Its also reported back to their governing bodies.

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

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

Is that why its tonight as the admin is said to be Monday?

Are the council moving just to make sure that the stadium remains operational so things like football and the casino can continue to operate? One would imagine that the stadium could be locked by the bond holders if they own it effectively, Wasps training ground was locked up immediately.

I think Grendel has a point. The council played God with the club from the very start and dont have a good track record with large investments you just have to look at the money pit Coombe Abbey has turned into. At the end of the day they were the ones through Arena Coventry Ltd that forced our...

Necessity to pay the interest due to bond holders one would assume.

These local supporters are not what I would call hardcore fans. If they were in it for the rugby then they would possibly already be watching CRFC, it will be part time glory hunters attaching themselves to what they perceived as a big club. Most never gave a shit to our situation or the nuances...

It will be down to the FCA to look at the bond side of it as they are the regulator. Would imagine they may get some pressure as it's the first bond of its type to fail and previous Wasps accounts concluded they were not a going concern or words to that effect.

Running through the least painful way for them to move forward. The numbers men will be gaming different scenarios and Richardson will select the one that is most beneficial to him and Wasps.

They also think that the stadium is worth 35 million which it wont be. Someone on here said it needed around 10 million spending to get the maintenance side of it back to spec?

Hence the reason for an independent enquiry, I am not saying it happened because its a Labour council by the way. They are all as bad as each other my point was the councillors often make decisions without the acumen to do so. To make a decision to sell the lease to Wasps in the first place...

The issue is if you keep voting Labour you get the same thing, its hard to say what a Conservative council would do as they never get the same run in the city. This is a Labour stronghold and if the government is Conservative you will get less investment for the city as a consequence in the same...

Moving the stock before they loose access to the ground?

Morris wanted 22 million for Pride Park which valued the whole amount of club and ground at over 50 million. The purchasers said the total package at tops was only worth £30 million in total but the actual sale price has not been disclosed but Morris took a massive haircut on the asking price...

Do you think that they have taken the 10 day option as they new that HMRC had had enough and they are trying to negotiate extra funding to cover the amount owed to them as well as the bond holders? Just a thought.

And your proof of that is what?

The report quotes 15 million, cant see it as they have baulked at Diaz at 6 million. If we got 15 million then hes gone.

But if you go for talented players from lower leagues who you think can step up or young premier league players being released you either have to pay a transfer fee and will be competing against other clubs or development fees for youngsters and we dont have a pot to piss in apparently. We are...

If he was shit would that have been brexits fault as well? :p