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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...

The nine most terrifying words in the English language (for a city fan): "I'm from the Council, and I'm here to help."

Nuts to that, Pete. I'm being buried in my car along with all of my money (*both* pounds), and all of my earthly possessions. I've asked my wife if she's ok with being buried alive with me, so she can serve me in the afterlife, but she doesn't seem very keen. 😁

Yep. The point I was trying to make though is that Wasps wouldn't be telling players to look elsewhere if they thought there was any chance of avoiding adminstration. Sounds like they've accepted the inevitable now.

Yes he did, and Reid had the bottle to face down the CET and subsequently expose all this at his employment tribunal. It painted both the council and the CET in a shockingly bad light, and frankly I wouldn't trust either organisation further than I could spit a rat.

Madness to reply to yourself, I know, but I've just rewound and listened again and they are definitely talking about Wasps. Exact words: "... The players have been told they can look for other opportunities"

On the BT rugby show tonight, they are saying that Wasps players have been told that they are free to look for other clubs. Now it could be that they're confusing it with the Worcester issue but if that's really the case then it has to be game over for them in terms of administration.