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CBS issues (3 Viewers)

  • Thread starter pusbccfc
  • Start date Jul 29, 2022
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rexo87

Well-Known Member
  • Aug 18, 2022
  • #3,396
Not sure there's much hope of them paying 35m at any point if they can't pay 180k up front

Sent from my SM-G991B using Tapatalk
 
Reactions: vow and Sky Blue Pete

robbiekeane

Well-Known Member
  • Aug 18, 2022
  • #3,397
Grendel said:
But Again if I was the person managing the contract with the third party the delivery to my company would be down to me. Not them - me
Click to expand...
That’s bullshit

you’re not judged by their performance, you’re judged by how you manage their performance
 
Reactions: stupot07 and Sky Blue Pete

Skyblueweeman

Well-Known Member
  • Aug 18, 2022
  • #3,398
Earlsdon_Skyblue1 said:
I don't think anyone is blaming Boddy more than Wasps, so I don't know where you are getting that from.
Click to expand...

Have you been reading the posts from @Grendel ?!
 
Reactions: PUSB-We_are_going_up, eastwoodsdustman, stupot07 and 3 others

Sky Blue Pete

Well-Known Member
  • Aug 18, 2022
  • #3,399
chiefdave said:
Whenever the next SCG meeting is, or whatever its called now, can someone ask what the plan is for next season as this seems to be patching it up to get us through this season. Sounds like it really needs ripping up and starting again but if Wasps are broke is that going to happen next summer.

Don't want to be sat here this time next year talking about home games being called off.
Click to expand...
Both have stated it will be ripped up at the end of the season
 

Grendel

Well-Known Member
  • Aug 18, 2022
  • #3,400
robbiekeane said:
That’s bullshit

you’re not judged by their performance, you’re judged by how you manage their performance
Click to expand...

You are mixing up blame and accountability so with respect it’s you whose talking bullshit
 

Grendel

Well-Known Member
  • Aug 18, 2022
  • #3,401
Skyblueweeman said:
Have you been reading the posts from @Grendel ?!
Click to expand...

Again blame is different to accountability
 

robbiekeane

Well-Known Member
  • Aug 18, 2022
  • #3,402
Grendel said:
You are mixing up blame and accountability so with respect it’s you whose talking bullshit
Click to expand...
You said it would be down to you if a 3rd party just didn’t turn up with a delivery. It’s nonsense, it’s be down to you to manage the performance of them and come up with the contingency plan and manage the vendor performance.

You can’t control everything and stop it all from happening

But of course you’ve got some very odd obsession with Dave boddy so you’ll continue to blame everything on him no matter the situation so I shan’t waste too much energy in this
 
Reactions: Skyblueweeman and stupot07

Grendel

Well-Known Member
  • Aug 18, 2022
  • #3,403
robbiekeane said:
You said it would be down to you if a 3rd party just didn’t turn up with a delivery. It’s nonsense, it’s be down to you to manage the performance of them and come up with the contingency plan and manage the vendor performance.

You can’t control everything and stop it all from happening

But of course you’ve got some very odd obsession with Dave boddy so you’ll continue to blame everything on him no matter the situation so I shan’t waste too much energy in this
Click to expand...

I have no obsession with Boddy - if it was Fisher or Waggott I’d be entirely consistent in my response - others I suspect would not as for some reason he’s viewed as different (his actions or inactions prove otherwise)

On May 13 Red flags should have been triggering everywhere and contingency strategies being developed
 
Reactions: wince

Nick

Administrator
  • Aug 18, 2022
  • #3,404
Grendel said:
I have no obsession with Boddy - if it was Fisher or Waggott I’d be entirely consistent in my response - others I suspect would not as for some reason he’s viewed as different (his actions or inactions prove otherwise)

On May 13 Red flags should have been triggering everywhere and contingency strategies being developed
Click to expand...

Yep and you would be the first to moan if the strategy included moving and gone on about Hereford etc etc.
 
Reactions: Skyblueweeman

Senior Vick from Alicante

Well-Known Member
  • Aug 18, 2022
  • #3,405
Further update on the Bond, looks like they are deferring payment again?

MESSAGE FROM HARGREAVES LANSDOWN TODAY RE JUNE NOTIFICATION Wasps Finance plc - Bond Redemption Update Reference: 02023748 Dear Mr Wasps Finance plc - Bond Redemption Update Your holding of 10,000 shares within your Stocks & Shares ISA What is happening? Wasps Finance plc have provided an update regarding Wasps Finance plc - 6.5% 2022 bonds. It has been announced that there will be a further delay to the expected payment date. The expected date of the delayed redemption payment has not been announced yet; we will be in contact with an update once this has been announced by Wasps Finance plc. Accrued interest up until the redemption date will be paid to bondholders. “Further to the announcement on 30th June 2022, the Issuer has not yet been able to agree final terms for refinancing and as such will not complete the refinancing and redemption of the Bonds within the previously proposed timeframe. The Issuer is now working on the proposed Bond terms to be amended and will formally launch a consent solicitation process in August, once the proposed terms have been finalised.” (Source, July 2022). We will contact you again upon announcement of the payment date of the redemption proceeds. Should you have any queries please do not hesitate to contact us. Yours sincerely Becky Haworth Corporate Actions
 

Sky_Blue_Dreamer

Well-Known Member
  • Aug 18, 2022
  • #3,406
Grendel said:
Again it’s not him it’s his role. CEO is accountable
Click to expand...
Again I refer the dishonourable gentleman to his defence of Boris. It's not him, it's his role (well, actually, it was him as well)..
 

Nick

Administrator
  • Aug 18, 2022
  • #3,407
Senior Vick from Alicante said:
Further update on the Bond, looks like they are deferring payment again?

MESSAGE FROM HARGREAVES LANSDOWN TODAY RE JUNE NOTIFICATION Wasps Finance plc - Bond Redemption Update Reference: 02023748 Dear Mr Wasps Finance plc - Bond Redemption Update Your holding of 10,000 shares within your Stocks & Shares ISA What is happening? Wasps Finance plc have provided an update regarding Wasps Finance plc - 6.5% 2022 bonds. It has been announced that there will be a further delay to the expected payment date. The expected date of the delayed redemption payment has not been announced yet; we will be in contact with an update once this has been announced by Wasps Finance plc. Accrued interest up until the redemption date will be paid to bondholders. “Further to the announcement on 30th June 2022, the Issuer has not yet been able to agree final terms for refinancing and as such will not complete the refinancing and redemption of the Bonds within the previously proposed timeframe. The Issuer is now working on the proposed Bond terms to be amended and will formally launch a consent solicitation process in August, once the proposed terms have been finalised.” (Source, July 2022). We will contact you again upon announcement of the payment date of the redemption proceeds. Should you have any queries please do not hesitate to contact us. Yours sincerely Becky Haworth Corporate Actions
Click to expand...

Looks like it is somebody just quoting what was said in July?
 

Sky_Blue_Dreamer

Well-Known Member
  • Aug 18, 2022
  • #3,408
clint van damme said:
I'm not making myself clear, we've had 3 games called off, if the pitch is that bad then they must have known at least a couple of weeks ago.
The late Rotherham announcement would have been fine if it was a close run thing and Wigan was on, but the pitch must have been in a terrible state and I'm sure they knew it would be some time before it was playable, they clearly could have put people in the loop a lot quicker than they have.
Click to expand...
But could they actually call it off without actual confirmation from a ref/expert? Otherwise we're into points deductions territory. And I imagine the don't do the inspections too early in case it improves (as I imagine they're not used to having pitches in this poor a state that it's pretty much dead).

Admittedly the club could have made it very clear that they thought there was a high probability of the game being called off by the authorities, but they can't actually say 'game is off' until the authorities let them
 
Reactions: Skyblueweeman and Sky Blue Pete

Colin Steins Smile

Well-Known Member
  • Aug 18, 2022
  • #3,409
MalcSB said:
Post on Wasp bondholders forum that the cost of the repair will be paid initially by CCFC and Wasps will have to repay the £180,000 or so by agreement.

Boils down to wasps hoping to get away with it because they haven’t got a pot to piss in.
Click to expand...
That will make CCFC a creditor when/if Wasps go into administration.
 
Reactions: vow and Sky Blue Pete

slowpoke

Well-Known Member
  • Aug 18, 2022
  • #3,410
Colin Steins Smile said:
That will make CCFC a creditor when/if Wasps go into administration.
Click to expand...
I would think our new owner Mr Jordan will have something to say about that
 
B

Brighton Sky Blue

Well-Known Member
  • Aug 18, 2022
  • #3,411
A-level results day, and it's not turned out well for our students.

Stephen Vaughan: Economics U
Business Studies U
PE U
BTEC Qualification for Horticulture Fail

David Boddy: Economics E
Biology E
English Language E

Timothy Fisher: Religious Studies D
Philosophy A*
Geography U

Andrew Street: Politics D
Economics D
History E

Kevin Maton: History U
Business Studies U
Geography E

Joy Seppalla: Economics U
Business Studies U
Politics A*
 
Reactions: PUSB-We_are_going_up, Skyblueweeman, eastwoodsdustman and 8 others

Colin Steins Smile

Well-Known Member
  • Aug 18, 2022
  • #3,412
Overall the Wasps situation looks grim:

1. The failure to repay the £35m bond in May.
2. The failure to secure refinancing of the bond in May, June, July & now?
3. The failure to maintain the pitch to a safe level. Leading to potential damages being sought.
4. The failure to submit audited accounts for the Wasps Charity and circumstances leading to Charity Commission intervention.
5. The failure of Wasps to finance the pitch repair and CCFC initially paying.

There's one reoccurring theme: WASPS FAILURE!

Surely, the bond holders will seek to recoup as much money now rather than wait another year and get less back.
 
Reactions: Skyblueweeman and regis...4-3!!

shmmeee

Well-Known Member
  • Aug 18, 2022
  • #3,413
robbiekeane said:
You said it would be down to you if a 3rd party just didn’t turn up with a delivery. It’s nonsense, it’s be down to you to manage the performance of them and come up with the contingency plan and manage the vendor performance.

You can’t control everything and stop it all from happening

But of course you’ve got some very odd obsession with Dave boddy so you’ll continue to blame everything on him no matter the situation so I shan’t waste too much energy in this
Click to expand...

I planned a wedding. It was on the cheap and very relaxed. I still checked the venue months then weeks then days before the day. I checked the caterers. Everything. You don’t just book it and hope for the best of you’re managing a project.
 
Reactions: Sky Blue Pete and regis...4-3!!

Nick

Administrator
  • Aug 18, 2022
  • #3,414
shmmeee said:
I planned a wedding. It was on the cheap and very relaxed. I still checked the venue months then weeks then days before the day. I checked the caterers. Everything. You don’t just book it and hope for the best of you’re managing a project.
Click to expand...

What happens if you could only use 1 venue and 1 caterer?
 
D

Deleted member 5849

Guest
  • Aug 18, 2022
  • #3,415
Nick said:
Yep and you would be the first to moan if the strategy included moving and gone on about Hereford etc etc.
Click to expand...
Why would he be going on about Hereford?
shmmeee said:
I planned a wedding. It was on the cheap and very relaxed. I still checked the venue months then weeks then days before the day. I checked the caterers. Everything. You don’t just book it and hope for the best of you’re managing a project.
Click to expand...
Hmm, tbf mine got cancelled because of a national lockdown, and I don't think I was responsible for *that*!
 
S

SBT

Well-Known Member
  • Aug 18, 2022
  • #3,416
Travs said:
Whenever a statement comes out (regardless of whether it is from Wasps/CCFC/SISU/EFL) saying "parties are in discussion/working on something", with no substance, it is usually condemned as being a "waste of time" and "why don't they just concentrate on sorting things out and tell us when they've got some proper news".

They can't win in a situation where its obviously going to be negative news.
Click to expand...

So you’d rather they just say nothing then?

Find it weird that the same people who throw their toys out of the pram every time the media is silent on their pet peeve story du jour are perfectly happy with the club itself being silent on much more basic/fundamental stuff. But if people think the club’s communication has been brilliant here then that’s their prerogative - we get the club we deserve.
 

shmmeee

Well-Known Member
  • Aug 18, 2022
  • #3,417
Nick said:
What happens if you could only use 1 venue and 1 caterer?
Click to expand...

Then I’d check twice as much so any problems were identified early and other stakeholders can be notified.

I also refer the honourable gentleman to the last decade of me bitching about how the club have willingly given up control of the ground situation with no signs of rectifying it.
 
Reactions: Deleted member 5849

Nick

Administrator
  • Aug 18, 2022
  • #3,418
Deleted member 5849 said:
Why would he be going on about Hereford?
Click to expand...

Ha, Worcester. Same thing down there.
 

shmmeee

Well-Known Member
  • Aug 18, 2022
  • #3,419
Deleted member 5849 said:
Why would he be going on about Hereford?

Hmm, tbf mine got cancelled because of a national lockdown, and I don't think I was responsible for *that*!
Click to expand...

I seem to recall you being on stressing about it for weeks. I assume you didn’t inform guests the day before it was off.
 
S

SBT

Well-Known Member
  • Aug 18, 2022
  • #3,420
Nick said:
What happens if you could only use 1 venue and 1 caterer?
Click to expand...

Not sure that excuse is going to fly when you’ve already been married multiple times in every wedding venue in the local area.
 
D

Deleted member 5849

Guest
  • Aug 18, 2022
  • #3,421
shmmeee said:
I seem to recall you being on stressing about it for weeks. I assume you didn’t inform guests the day before it was off.
Click to expand...
True, although there's one or two I'd have liked to have gone to an empty church...
 
Reactions: Skyblueweeman

Nick

Administrator
  • Aug 18, 2022
  • #3,422
shmmeee said:
Then I’d check twice as much so any problems were identified early and other stakeholders can be notified.
Click to expand...

But you can only use the 1 place and the 1 caterer. Not much you can do, especially when the venue don't let you in until the day before.
 
Reactions: vow and Sky Blue Pete

olderskyblue

Well-Known Member
  • Aug 18, 2022
  • #3,423
shmmeee said:
I planned a wedding. It was on the cheap and very relaxed. I still checked the venue months then weeks then days before the day. I checked the caterers. Everything. You don’t just book it and hope for the best of you’re managing a project.
Click to expand...
My wedding reception venue cancelled on us a week before the wedding…..
 
Reactions: vow and Otis

Nick

Administrator
  • Aug 18, 2022
  • #3,424
SBT said:
Not sure that excuse is going to fly when you’ve already been married multiple times in every wedding venue in the local area.
Click to expand...

Oh so now it is going to be blame the club for not sorting a groundshare somewhere else?


 

Colin Steins Smile

Well-Known Member
  • Aug 18, 2022
  • #3,425
shmmeee said:
Then I’d check twice as much so any problems were identified early and other stakeholders can be notified.

I also refer the honourable gentleman to the last decade of me bitching about how the club have willingly given up control of the ground situation with no signs of rectifying it.
Click to expand...
You have a point - The club not owning the ground was always a high risk situation, which should have been included in their risk assessments.
 
Reactions: shmmeee and Sky Blue Pete

Sky Blue Pete

Well-Known Member
  • Aug 18, 2022
  • #3,426
shmmeee said:
I planned a wedding. It was on the cheap and very relaxed. I still checked the venue months then weeks then days before the day. I checked the caterers. Everything. You don’t just book it and hope for the best of you’re managing a project.
Click to expand...
I think that’s fair and accepted by DB that he could have acted quicker during the summer. The caveat being even on the Monday when Bristol game moved SV was questioning the pitch being unacceptable

On this he couldhave donebetter
 
Reactions: Otis

Sky Blue Pete

Well-Known Member
  • Aug 18, 2022
  • #3,427
SBT said:
So you’d rather they just say nothing then?

Find it weird that the same people who throw their toys out of the pram every time the media is silent on their pet peeve story du jour are perfectly happy with the club itself being silent on much more basic/fundamental stuff. But if people think the club’s communication has been brilliant here then that’s their prerogative - we get the club we deserve.
Click to expand...
Have you read the ccfc statement?
 
S

SBT

Well-Known Member
  • Aug 18, 2022
  • #3,428
Nick said:
Oh so now it is going to be blame the club for not sorting a groundshare somewhere else?


Click to expand...

Well we tried to switch stadiums for at least two of our affected home fixtures didn’t we? Our priority was (quite rightly) to fulfil the fixtures. If we’d have been on top of this sooner then I have no doubt that we would have played all of our games in August at other stadiums - no EFL punishment, no fixture pile-up, no late postponements. If you’re happier that it turned out this way instead then good for you.
 
Reactions: clint van damme
S

SBT

Well-Known Member
  • Aug 18, 2022
  • #3,429
Sky Blue Pete said:
Have you read the ccfc statement?
Click to expand...

Of course. I’m not suggesting the club confirm things prematurely, especially when things were fluid, I’m suggesting they communicate what’s going on behind the scenes and what timescale they’re working on to give people a bit of clarity.

But again, if people would rather know nothing, that’s up to them.
 
Reactions: clint van damme

Nick

Administrator
  • Aug 18, 2022
  • #3,430
SBT said:
Of course. I’m not suggesting the club confirm things prematurely, especially when things were fluid, I’m suggesting they communicate what’s going on behind the scenes and what timescale they’re working on to give people a bit of clarity.

But again, if people would rather know nothing, that’s up to them.
Click to expand...

It usually helps if people are that bothered they want to be informed at every little thing then they try to stay up to date and listen to whats been said. (rather than just get worked up by social media)
 
Reactions: Sky Blue Pete
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