Search results

Mark, Can you sign some kind of back up to Vic in the next window please. Young with potential. Not necessarily over 7 foot tall, just over 5 foot 8 and-a-fag-end. Not Biamou either, Grendel wouldn’t allow it. No one over 31 - they get injured easily. Someone to sit in the u21s and come in...

It’ll be interesting seeing who is in the posh seats today. Keep ‘em peeled.

I think the insurance thing is an issue tbh. I can imagine an underwriter asking the question: “So, this arena. You paid £15-£20m for it, suggest that it requires £20m for repairs, That doesn’t sound very safe. And, you have borrowed £35m against it and want to insure it at the rebuild...

I’m strangely optimistic that things will turn out fine.

I guess if SISU get the Arena for less than originally they were trying to pay (who knows) then that might be a small consolation

Wasps “confirmed” relegation and this? Looks like admin for ACL. It’s going to get interesting if nothing else.

It’s prediction time just for the sake of it and one can get mocked if one is wrong. My take: 1) There’ll be a last minute extension attempt where there seems to be some dubious claim of progress. 2) This will fail with straightaway or soon after. 3) CCFC will play at Walsall on Tuesday...

I’m beginning to think that this might well be the case. Why would SISU give £ to the admin - it essentially gives them breathing space. SISU will be wanting the situation as distressed as possible. Their 10 year lease is being breached - straight compo situation accrues. I don’t know...

Agree with all that but thinking out loud a big hedgehog in all this will be venue insurance. Admin on Monday might negate venue insurance or maybe it hasn’t been paid. I very much doubt the person with ultimate responsibility (admin or director) would want the risk of anything adverse...

I’ve not been keeping 100% eye on it but referring to an administrator? (Referring to stadium issues not Wasps) Have I missed something ?

Any income at the moment is going straight to pre/administration / agents back pocket (less the essentials to keep going)

I think they were / might do but things change, doors open, doors close. Atm if the CBS can be secured then I guess that’s the aim.

I’m sure that at some point SISU could see / smell that Wasps were going to have a problem. I did find it strange that SISU totally gave up every legal challenge and happily signed a 10 year lease. Have in mind that this was after the start of the pandemic and the whole landscape was changing...

They’d be milking themselves unless they sold CCFC to someone else and charged rent.

It’s a pain threshold figure. How long could the club afford not to? If SISU / CCFC didn’t pay it would cost probably more to put a game on elsewhere or suffer EFL penalty (of more or a higher risk of relegation which would cost millions) It’s whoever is pulling the strings squeezing the...

Just checked, “US Bank Trustees Ltd.” have a first charge over the ACL Arena (don’t know the full details) Compass a second (later) charge. USBTL used to be known as Bank of America Trustees. I’m reaching here but I’m guessing they are pulling ropes here.

Pre administration oftentimes a bank or whoever who holds a debentures will appoint a “consultant” that acts a pre-administrator. Essentially they usurp the directors and control them on behalf of the debenture holder. They charge administrative rates ie north of £500/h. As I said, a racket. I...

Directors sometimes backdate their resignation in order to protect themselves from any legal consequences from breach of fiduciary duty and such. If they have been taking salaries / divs despite knowing the business was totally f—-Ed etc. The probable reality is that they stepped back on the...

Not sure that a liquidation would be so bad. Might cause some operational delays thought. The administrator might well be connected to the liquidator but in these cases it’s either one or the other that gets the money. The administrator, as I’ve said, would want to milk this process as long...

If you’ve ever dealt with an Administrator you’ll know that the only revenue stream they are interested in is the one that gets the most for them and their connected pals. No f—s will be given about Bondholders, CCFC, SISU, CCC or anyone else. It’s a racket and needs to be properly regulated.