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Just a thought, but if we've now got two unelected heads of state, with no actual influence on legislation, and no need to attend parliament, wouldn't it be cheaper to just keep Charles and sack Truss off?

We'll still have a sub-lease in two weeks time, whatever happens to ACL, admin or not. That remains regardless of the who the head lease belongs to. If you think it all of the way through, no matter who buys the lease, our sub-lease remains intact. And who would want to kick us out anyway, as...

It is a relief that they're not in a place to influence the administrator of ACL at least, assuming that they're being honest about that.

Conveniently ignoring the fact that every Councillor voted for the deal on the understanding that it would not negatively impact either CCFC or CRFC. Basically they accepted a load of promises from Wasps, "play on Sundays", "build a training ground and create jobs in the city", "always a place...

Absolutely... "So, err, no other questions from us. Is there anything you'd like to ask?". 😀

I'm not sure how this would work. There's a strict order of creditors, and even HMRC sit behind the bondholders. There's no obvious way that I can see of CCC jumping to the front if they loan ACL funds now or when in admin. If any subsequent deal unspooled it'd be a risk to council funds, surely?

Fair question, but Coventry aren't semi-pro. Street was dead wrong about this.

The bondholders have a mortgage on the lease, that's clear enough in the prospectus. I honestly don't think that it will just revert to the council if ACL go into administration. There could well be a big bunfight brewing over this, but I think it's more likely that as the freeholder the...

I've not looked closely, but I reckon a 13 or 14mm socket would be the right size. Just need a distraction from the flare boys in Singer's corner and it's game on. 😀

Interesting time to join the forum, eh. Edit: Apologies, should have said join the conversation, apparently you've been here for a while. Think you've mis-read the room a bit though. Anyhow, if you've been following the news, Wasps already are out of the equation. (Also, perhaps read thread...

If there was a deal close, then it's surely too late now. If the players want to wait until next year to possibly play in the championship, then I guess that's up to them. The better ones won't though!

We'll they can probably say it, but the players can do what they want now regardless; they don't work for Wasps any more.

Paying HMRC 'something' every month is not quite the same as HMRC breaking an agreement. As discussed elsewhere this just doesn't happen. Similarly, I have serious doubts about HSBC leading anyone 'up the garden path', it's much more likely they wanted evidence of something (a sustainable...

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...

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.

I think we're about find out - it's that old saying about it's worth what someone will pay for it. In fairness, it's not just the bricks and mortar, it's also the lease for the Casino and the Hotel etc.., so there's some money in that somewhere you'd fancy. I couldn't even guess what it will...

Ah, I think that some of them were plenty good at finance, but only for themselves!

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...

So just joining the dots here from the bond prospectus, to see where the council comes in etc.. Wasps Holdings (now in admin) are the 100% owners of ACL. ACL (not in admin) are the 100% owners of ACL2006. ACL2006 (not in admin) are the holders of the head lease (250-years). Wasps Holdings...

"Traditional home"? But everyone, without exception, who tried to justify Wasps moving here, said they were 'nomadic'. I'm sure their Coventry based fans won't mind if this happens, eh. It's obviously necessary for the club to survive...