Sick Boy
Super Moderator
Aren’t they required to play at their previous ground?
Aren’t they required to play at their previous ground?ACL 2006 holds and manages the head lease from CCC whilst ACL is responsible for operational management of the arena business. IEC was majority owned by ACL.
Those 3 companies went in to administration and were immediately bought by House of Fraser Group. Assets won’t be realised for distribution, HoF payment for the three companies is the totality of what is available for distribution to creditors from those 3 companies, There is no need for them to be dissolved and it would be in the new owners interest to maintain all current contracts for use of the stadium in place. But hopefully not Wasps!
Doesn't that mean the debts are also still in place if all agreements are?ACL 2006 holds and manages the head lease from CCC whilst ACL is responsible for operational management of the arena business. IEC was majority owned by ACL.
As I understand it, those 3 companies went in to administration and were immediately bought by House of Fraser Group. Assets won’t be realised for distribution, HoF payment for the three companies is the totality of what is available for distribution to creditors from those 3 companies, There is no need for them to be dissolved and it would be in the new owners interest to maintain all current contracts for use of the stadium in place. But hopefully not Wasps!
For 3 or 5 years...Aren’t they required to play at their previous ground?
No.Doesn't that mean the debts are also still in place if all agreements are?
There is an RFU rule to that effect which seems pretty ridiculous if a club has gone bust. At the moment there isn’t really a Wasps at all.Aren’t they required to play at their previous ground?
Believe not but likely to be able to review if they continue their sponsorship given change of ownership. You'd also assume ashley would want to buy them out.Have CBS lost the naming rights?
The rumour was CBS had paid next to nothing. it was a face saving exercise for Wasps who had spent years saying they were lining up a new sponsor, even engaging a third party to sell the naming rights, but couldn't get a deal in place.Guess it depends if they paid up front of yearly. If they paid up front the money is gone.
And CCFC had to be back at the arena if there was to be any sponsorship of the ground.The rumour was CBS had paid next to nothing. it was a face saving exercise for Wasps who had spent years saying they were lining up a new sponsor, even engaging a third party to sell the naming rights, but couldn't get a deal in place.
If that's true would be interesting to know if there's any get out for a new owner or will surely even want to maximise the return or promote their own brands.
I bet it’ll be the Flannels.com arena before long.Have CBS lost the naming rights?
I bet it’ll be the Flannels.com arena before long.
That'll work for all the 14 to 16 blockersMassive Stone Island badge on the roof.
Millwall will love it when we play them at home then…Massive Stone Island badge on the roof.
I think that CBS certainly got a good deal. There will be an element of is the Ashley group someone they want to be associated with anyway. Think only time will tell on that front.The rumour was CBS had paid next to nothing. it was a face saving exercise for Wasps who had spent years saying they were lining up a new sponsor, even engaging a third party to sell the naming rights, but couldn't get a deal in place.
If that's true would be interesting to know if there's any get out for a new owner or will surely even want to maximise the return or promote their own brands.
The lease was novated to a Newco which included CCFC as tenant
The papers were all prepared ready to go yesterday
Not necessarily CCFC they just travel with the leaseSo that would have needed CCFC and CCC's permission?
So this secures our tenancy at the same rate for 8 years? Or am I being stupidThe lease was novated to a Newco which included CCFC as tenant
The papers were all prepared ready to go yesterday
So this secures our tenancy at the same rate for 8 years? Or am I being stupid
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