SkyBlueDom26
Well-Known Member
Very good news, hopefully they fuck off asap and we’re back at the Ricoh within weeks
Could this be good news for us to return to the Ricoh? (1 Viewer)
- Thread starter skybluebeduff
- Start date
better days
Well-Known Member
Ha ha no it wasn't that type of conversation
Tbh he did strike me as a bit of a fish out of water in football though
better days
Well-Known Member
Wasps look to be in trouble but then so are many football clubs
Wigan's situation is astonishing
The Administrator says they only have a 75% chance of completing the last 6 games of the season and players and staff may not be paid this month
The ownership is a mystery with the Hong Kong owners selling it to another associated company there only 4 weeks ago
The sale looks as dodgy as hell
Another Championship club is apparently also near to Administration
On balance if football clubs are in this state rugby is likely to be in a far worse position
Wigan's situation is astonishing
The Administrator says they only have a 75% chance of completing the last 6 games of the season and players and staff may not be paid this month
The ownership is a mystery with the Hong Kong owners selling it to another associated company there only 4 weeks ago
The sale looks as dodgy as hell
Another Championship club is apparently also near to Administration
On balance if football clubs are in this state rugby is likely to be in a far worse position
From his book
Football has always been a numbers game: 4-4-2, the big number 9 and 3 points for a win. But what if up until now we've been focusing on the wrong numbers? What if the numbers that really matter, the ones that hold the key to winning matches, are actually 2.66, 53.4, 50/50, and 0 > 1? What if managers only make a 15% difference? What if Chelsea should have bought Darren Bent?
In this incisive, myth-busting book, Chris Anderson, former goalkeeper turned football statistics guru, and David Sally, former baseball pitcher turned behavioural economist, show that every shred of knowledge we can gather can help us to love football and understand it even more. You'll discover why stopping a goal is more valuable than scoring one, why corners should be taken short, and why it is better to improve your worst player than to buy a superstar.
You'll never play, or watch, a game of football in quite the same way again.
The Numbers Game is essential reading for football fans everywhere and will also appeal to readers who loved Moneyball and Freakonomics.
At 17, Chris Anderson found himself playing in goal for a fourth division club in West Germany; today, he's a professor in the Ivy League at Cornell University in Ithaca, New York. An award winning social scientist and football analytics pioneer, Anderson consults with leading clubs about how best to play the numbers game.
David Sally is a former baseball pitcher and a professor at the Tuck School of Business at Dartmouth College in the US, where he analyses the strategies and tactics people use when they play, compete, negotiate, and make decisions. He is an adviser to clubs and other organizations in the global football industry.
Spurs 'City Away Kit' Kit
Well-Known Member
I’ve got a bit of knowledge of it. Their £35m of debt could be bought for less than half price at the moment (£17.5m) which means that when it has to be paid back in 2022 Wasps have to give you the whole £35m, if they can’t it’s personally guaranteed (by Richardson I think) so he’ll have to put his hand in his pocket for the difference. If he has to do that there will be a deal to be done.
No lose scenario if someone has £17.5m to burn?
cc84cov
Well-Known Member
He’s gonna end up broke at that rate
Spurs 'City Away Kit' Kit
Well-Known Member
Wasps accounts highlighted the loss of income from the RFU that they receive for ‘elite player development’ as a risk. With Daly leaving and the RFU under significant financial pressure they suffer here too. Additionally, last years position on covenants was masked by the CVC money, strip that money out and they would have been looking this bad a year ago.
Spurs 'City Away Kit' Kit
Well-Known Member
Would be worth a punt if you had a few quid!!
Spurs 'City Away Kit' Kit
Well-Known Member
They also have to chuck in and extra £2m in interest too between now and when it has to be repaid.
chiefdave
Well-Known Member
Think Wasps Holdings Limited and Arena Coventry Limited are the guarantors. But ACL is a subsidiary of Wasps Holdings anyway. I would assume if the bonds aren't repaid its because they don't have the money, you're not therefore going to get far going to Wasps or ACL.
At that point don't the bond holders get the security so they'd get the lease and control of ACL? Guess in theory if SISU purchase all the bonds for £17.5m and then Wasps defaulted they'd have themselves a stadium. Or the more likely scenario that they don't own the bonds but the bondholder will need to sell the lease to get back as much as they can, potentially a chance to pick it up on the cheap depending how many other interested parties there are.
At that point don't the bond holders get the security so they'd get the lease and control of ACL? Guess in theory if SISU purchase all the bonds for £17.5m and then Wasps defaulted they'd have themselves a stadium. Or the more likely scenario that they don't own the bonds but the bondholder will need to sell the lease to get back as much as they can, potentially a chance to pick it up on the cheap depending how many other interested parties there are.
hill83
Well-Known Member
Danceswithhorses
Well-Known Member
Interesting idea...i wonder if there are any legal eagles out there with some knowledge...or maybe OSB from an accountancy background ?
Spurs 'City Away Kit' Kit
Well-Known Member
https://s3.eu-west-2.amazonaws.com/...14a9e703961e7382ad87ca463f9b560bf8575a2479ec1
Apologies for the link but I think this confirms Richardson as the ultimate guarantor.
Apologies for the link but I think this confirms Richardson as the ultimate guarantor.
Danceswithhorses
Well-Known Member
Cant get this to work
Grendel
Well-Known Member
Moonstone are the ultimate guarantors
The Bonds are only secured on the lease that does not mean it reverts to them in a default. The Trustee will call on the guarantors to pay the outstanding liability which will probably trigger an Insolvency Act. The Receiver will then attempt to recover the bond monies by way of selling the lease or through the other Guanrantors
Look at : https://www.wasps.co.uk/media/3071/wasps-information-booklet-final.pdf for a brief summary
lordsummerisle
Well-Known Member
Didn't the lease revert back to CCC if Wasps went bang?
Grendel
Well-Known Member
It has a potential right to do so yes but it’s not quite as clear cut as that. Their are caveats and some rights for tenants
The wording states 38 years and I assume that is what it would revert back to
Risks relating the head lease of the Arena granted to ACL2006 Under the terms of the head lease granted by Coventry City Council (“CCC”) to Arena Coventry (2006) Limited (“ACL2006”) in respect of the Arena (the “Head Lease”), CCC have reserved the right to forfeit the Head Lease if ACL2006 becomes insolvent. Insolvency in this scenario means a situation where ACL2006 becomes unable to pay its debts, has a receiver/administrator/provisional liquidator appointed over its assets, has assets seized in order to pay debts of ACL2006 or has a winding-up order made against it. The effect of forfeiture would be that the 250 year Head Lease would fall away and that ACL would then become the tenant of CCC at the Arena for the remaining 38 years of its existing lease. However, the right of CCC to claim forfeiture of the Head Lease is not an automatic right. If CCC made a claim for such forfeiture, this could be contested by ACL2006, any third party that held security over ACL2006 and any subtenants of ACL2006 by making application to a court in England. Further, if an administrator was to be appointed over the assets of ACL2006, then CCC would not be able to forfeit the Head Lease without the consent of the appointed administrator or with the leave of the courts.If forfeiture was to take place prior to maturity of the Bonds, then U.S. Bank Trustees Limited, the entity that will hold the security on behalf of Bondholders, may not be in a position to assign the Head Lease for value in the event CCC forfeited the lease as described in the preceding paragraph. This may have an impact on the Bondholders’ ability to receive full repayment of their investment in the Bonds on the occurrence of such an insolvency event.
My limited knowledge is the Receiver can retain the lease so long as it does not prejudice the Freeholder - that will enable them to sell it. However, the purchaser will have to be accepted by the Freeholder as a suitable substitute
Philosorapter
Well-Known Member
I did have a glance through his book.
It did make me wonder on a few stuff when he stated to exchange the slowest players for the fastest in substitutions.
I don't believe this to be correct.
In 1749, Philidor wrote the following in 'Analyse du jeu des Échecs';
"My main purpose is to gain recognition for myself by means of a new idea of which no one has conceived, or perhaps has been unable to practice; that is, good play of the pawns; they are the soul of chess: it is they alone that determine the attack and the defence, and the winning or losing of the game depends entirely on their good or bad arrangement."
In 1925, Lasker expanded on this in his 'Manual of Chess' book pages 179-181
http://www.simardartizanfarm.ca/pdf/-_Lasker_s_Manual_of_Chess.pdf
The key point being, well you lot can work it out for yourselves
Taking a stab in the dark I reckon there may be similarities within the games.
These books, whilst showing their age now, are still excellent in parts showing the development of chess theory and the move from the romantic game to classical theory and beyond.
It is also written in the books, what applies in Chess may also apply to other sports.
It did make me wonder on a few stuff when he stated to exchange the slowest players for the fastest in substitutions.
I don't believe this to be correct.
In 1749, Philidor wrote the following in 'Analyse du jeu des Échecs';
"My main purpose is to gain recognition for myself by means of a new idea of which no one has conceived, or perhaps has been unable to practice; that is, good play of the pawns; they are the soul of chess: it is they alone that determine the attack and the defence, and the winning or losing of the game depends entirely on their good or bad arrangement."
In 1925, Lasker expanded on this in his 'Manual of Chess' book pages 179-181
http://www.simardartizanfarm.ca/pdf/-_Lasker_s_Manual_of_Chess.pdf
The key point being, well you lot can work it out for yourselves
Taking a stab in the dark I reckon there may be similarities within the games.
These books, whilst showing their age now, are still excellent in parts showing the development of chess theory and the move from the romantic game to classical theory and beyond.
It is also written in the books, what applies in Chess may also apply to other sports.
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shepardo01
Well-Known Member
No chance then.....
fernandopartridge
Well-Known Member
Yeah that's first layer lease isn't it
I did have a glance through his book.
It did make me wonder on a few stuff when he stated to exchange the slowest players for the fastest in substitutions.
I don't believe this to be correct.
In 1749, Philidor wrote the following in 'Analyse du jeu des Échecs';
"My main purpose is to gain recognition for myself by means of a new idea of which no one has conceived, or perhaps has been unable to practice; that is, good play of the pawns; they are the soul of chess: it is they alone that determine the attack and the defence, and the winning or losing of the game depends entirely on their good or bad arrangement."
In 1925, Lasker expanded on this in his 'Manual of Chess' book pages 179-181
http://www.simardartizanfarm.ca/pdf/-_Lasker_s_Manual_of_Chess.pdf
The key point being, well you lot can work it out for yourselves
Taking a stab in the dark I reckon there may be similarities within the games.
These books, whilst showing their age now, are still excellent in parts showing the development of chess theory.
It is also written in the books, what applies to Chess may also apply to other sports.
I think it was Mowbray he approached after a game with a load of statistics that came to a conclusion CCFC should have won based on corners, shots etc
The response he got was "we lost because they ******** scored more goals than us "
Philosorapter
Well-Known Member
Hehehehe
I did like Mowbray. In my opinion, game experience rules everytime.
I still say this is the path to go down in team analytics with football. Statistics has problems.
Realtime this and I reckon you are on to a winner.
HuckerbyDublinWhelan
Well-Known Member
Well, ultimately it’s down to whether SISU are willing to continue plugging the gap. If so it’s all good.
stay there until they go bump. But it’s a lot to trust sisu with
oldskyblue58
CCFC Finance Director
The guarantors of the Bond issue are
ACL 2006
ACL
Wasps Finance
Wasps Holdings
There is nothing in the prospectus or the registered charge that says Moonstone or Richardson have guaranteed the bond. (Source Companies House and the prospectus document)
Richardson is exposed to risk with wasps of course....... the risk that he loses the money he has put in through his own funds or Canmango (subsidiary of Moonstone). He has what amounts to a second charge over all the assets of Wasps Holdings that secures the money he is owed. Unless there is a guarantee issued then Richardson & Moonstone would not be responsible for a default on the Bond
ACL 2006
ACL
Wasps Finance
Wasps Holdings
There is nothing in the prospectus or the registered charge that says Moonstone or Richardson have guaranteed the bond. (Source Companies House and the prospectus document)
Richardson is exposed to risk with wasps of course....... the risk that he loses the money he has put in through his own funds or Canmango (subsidiary of Moonstone). He has what amounts to a second charge over all the assets of Wasps Holdings that secures the money he is owed. Unless there is a guarantee issued then Richardson & Moonstone would not be responsible for a default on the Bond
skyblueinBaku
Well-Known Member
Nice to see you posting again, OSB. I hope that you and yours are keeping well.
oldskyblue58
CCFC Finance Director
Yes thanks all safe & well. Hope you are too.
Been busy trying to help clients through
ccfc1234
Well-Known Member
I think this is and was the plan from the outset for SISU.
