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so wasps were involved ? (1 Viewer)

  • Thread starter luwalla
  • Start date Jun 26, 2019
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M

Magwitch

Well-Known Member
  • Jun 29, 2019
  • #176
fernandopartridge said:
Shame for the staff tbh, as much as i despise Wasps the ACL staff have done no wrong
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theferret said:
Rumours going round that ACL have laid off staff today and there was a problem paying wages. All not well there it would seem.
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If that rumour is factual it will be in the public domain by the morning I’d think
 

clint van damme

Well-Known Member
  • Jun 29, 2019
  • #177
theferret said:
Rumours going round that ACL have laid off staff today and there was a problem paying wages. All not well there it would seem.
Click to expand...

I had heard some rumours about how poorly the complex was doing.
That was earlier in the year and related mainly to takings over the Christmas/New year period compared to previous years.

If true it seems incredible that they've just willingly decreased footfall in the next 10 months by around 300,000.
 
Reactions: torchomatic
C

CCFC54321

Well-Known Member
  • Jun 29, 2019
  • #178
clint van damme said:
I had heard some rumours about how poorly the complex was doing.
That was earlier in the year and related mainly to takings over the Christmas/New year period compared to previous years.

If true it seems incredible that they've just willingly decreased footfall in the next 10 months by around 300,000.
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Wasps won’t be here in two years time. The move to the Ricoh Isn't working out as planned and it’s going to get a hell of a lot worse in the next 12 months believe me.

Why haven’t they put a spade in the ground in relation to the new training ground? It’s because they won’t commit to being here in Coventry long term.

Wasps financial position and the Ricoh will finish them.
 
Reactions: ccfc1234

clint van damme

Well-Known Member
  • Jun 29, 2019
  • #179
CCFC54321 said:
Wasps won’t be here in two years time. The move to the Ricoh Isn't working out as planned and it’s going to get a hell of a lot worse in the next 12 months believe me.

Why haven’t they put a spade in the ground in relation to the new training ground? It’s because they won’t commit to being here in Coventry long term.

Wasps financial position and the Ricoh will finish them.
Click to expand...

in what way mate?
 
C

CCFC54321

Well-Known Member
  • Jun 29, 2019
  • #180
clint van damme said:
in what way mate?
Click to expand...

No footfall from CCFC or rent to help with the £45m debt

No European rugby

Gates decreasing YOY

Potential struggle next season to stay in the league with there best players left

No an attraction to join anymore as a basket case of a club (just like CCFC I hear you say!)


Bond to pay off next year? That they won’t pay and most likely extend

Investigation into financial cooling of the books with possible serious penalties if found guilty of which they were guilty as the auditors pulled out and reported it.
 
Reactions: ccfc1234 and clint van damme

Grendel

Well-Known Member
  • Jun 29, 2019
  • #181
CCFC54321 said:
No footfall from CCFC or rent to help with the £45m debt

No European rugby

Gates decreasing YOY

Potential struggle next season to stay in the league with there best players left

No an attraction to join anymore as a basket case of a club (just like CCFC I hear you say!)


Bond to pay off next year? That they won’t pay and most likely extend

Investigation into financial cooling of the books with possible serious penalties if found guilty of which they were guilty as the auditors pulled out and reported it.
Click to expand...

They won’t struggle to stay in the league it’s virtually a closed shop.
 
Reactions: torchomatic and Deleted member 5849
M

Magwitch

Well-Known Member
  • Jun 29, 2019
  • #182
They certainly look a basket case don’t they, looks to me they were trying a hostile takeover of ccfc and who knows where that could have led. Richard Overson’s very public pulling out of the consortium speaks volumes to me. Still can’t understand the Wasp stance makes no sense to me finance wise.
 

skybluetony176

Well-Known Member
  • Jun 29, 2019
  • #183
Magwitch said:
They certainly look a basket case don’t they, looks to me they were trying a hostile takeover of ccfc and who knows where that could have led. Richard Overson’s very public pulling out of the consortium speaks volumes to me. Still can’t understand the Wasp stance makes no sense to me finance wise.
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Others will know/understand the finances better than me but I can only come to the assumption that they need ownership of CCFC in some part to guarantee a long term commitment to the Ricoh to add value to the Ricoh as when the Bonds are due they clearly don’t have the ability to pay them of so need to refinance them. I assume that process becomes easier if progress and growth of the ACL business can be demonstrated. As already pointed out they already have attendances decreasing YOY, couple that to other issues and if anything the model is shrinking not growing which I can only imagine makes further investment less attractive not more attractive. Gaining control of CCFC adds value, added value makes refinancing easier.
 
Reactions: Gynnsthetonic and clint van damme
M

Magwitch

Well-Known Member
  • Jun 29, 2019
  • #184
Agree, football and Rugby clubs can and do co-exist together on a stadium sharing basis but as a one business enterprise no way imo, the finances generated by each sport is miles apart and for the Rugby club to be the principal owner can’t work.
Looking at things as they are it looks bad long term for Wasps and if this Richardson chap pulls out and cuts his losses could be curtains for them.
 

ccfc1234

Well-Known Member
  • Jun 29, 2019
  • #185
CCFC54321 said:
Wasps won’t be here in two years time. The move to the Ricoh Isn't working out as planned and it’s going to get a hell of a lot worse in the next 12 months believe me.

Why haven’t they put a spade in the ground in relation to the new training ground? It’s because they won’t commit to being here in Coventry long term.

Wasps financial position and the Ricoh will finish them.
Click to expand...

Your thinking about the training complex is very intresting. Why are they not moving this forward at a pace to ensure they have the right facilities to train their players in. I have a friend who supports Prem rugby and he told me Elliot Daley (England full back) and a few of their other players are leaving this summer as they have had enough of the poor training ground. To his knowledge their playing squad is worse than it was 12m ago and they could have a really poor season and possibly go down. For their fans based in London's sake I hope they do and SISU win in court as this will then be their final season as a soulless franchise club.
 
G

Garryb80

Well-Known Member
  • Jun 29, 2019
  • #186
CCFC54321 said:
No footfall from CCFC or rent to help with the £45m debt

No European rugby

Gates decreasing YOY

Potential struggle next season to stay in the league with there best players left

No an attraction to join anymore as a basket case of a club (just like CCFC I hear you say!)


Bond to pay off next year? That they won’t pay and most likely extend

Investigation into financial cooling of the books with possible serious penalties if found guilty of which they were guilty as the auditors pulled out and reported it.
Click to expand...
They do have european rugby just not the top level. Kind of the europa league
 
M

Magwitch

Well-Known Member
  • Jun 29, 2019
  • #187
I thought they were having training facilities in Leamington now or has that plan disappeared now
 
J

Jcap

Well-Known Member
  • Jun 29, 2019
  • #188
Magwitch said:
I thought they were having training facilities in Leamington now or has that plan disappeared now
Click to expand...
Not sure where it is located but I heard that planning had been approved for a new training facility. Whether it is in Cov or outside I don't know.
 
J

Jcap

Well-Known Member
  • Jun 29, 2019
  • #189
Magwitch said:
Agree, football and Rugby clubs can and do co-exist together on a stadium sharing basis but as a one business enterprise no way imo, the finances generated by each sport is miles apart and for the Rugby club to be the principal owner can’t work.
Looking at things as they are it looks bad long term for Wasps and if this Richardson chap pulls out and cuts his losses could be curtains for them.
Click to expand...
My take is that CCFC moving out will mostly affect their Ricoh revaluation - which if heard correctly was likely to be £100m+ when it happens. Would make them one of, if not the richest club in Europe, and with the Rugby Premiership payout I think they'd be ok. But not sure what impact us moving out would have on that.
 

Nick

Administrator
  • Jun 29, 2019
  • #190
Jcap said:
Not sure where it is located but I heard that planning had been approved for a new training facility. Whether it is in Cov or outside I don't know.
Click to expand...

They havent submitted proper planning yet have they?
 

Nick

Administrator
  • Jun 29, 2019
  • #191
Jcap said:
My take is that CCFC moving out will mostly affect their Ricoh revaluation - which if heard correctly was likely to be £100m+ when it happens. Would make them one of, if not the richest club in Europe, and with the Rugby Premiership payout I think they'd be ok. But not sure what impact us moving out would have on that.
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So they were going to try and revalue at £100m? hahahaha
 
Reactions: ccfc1234

Sick Boy

Super Moderator
  • Jun 29, 2019
  • #192
CCFC54321 said:
Wasps won’t be here in two years time. The move to the Ricoh Isn't working out as planned and it’s going to get a hell of a lot worse in the next 12 months believe me.

Why haven’t they put a spade in the ground in relation to the new training ground? It’s because they won’t commit to being here in Coventry long term.

Wasps financial position and the Ricoh will finish them.
Click to expand...

I’ve heard they’ve got rid of their internal marketing team.
 

M&B Stand

Well-Known Member
  • Jun 29, 2019
  • #193
How come the local media are spinning this as wasps and CCFC couldn’t agree a deal, when the long and short of it is they’ve kicked us out?’
 

Nick

Administrator
  • Jun 29, 2019
  • #194
M&B Stand said:
How come the local media are spinning this as wasps and CCFC couldn’t agree a deal, when the long and short of it is they’ve kicked us out?’
Click to expand...
Because they don't want to upset wasps or the council.
 

M&B Stand

Well-Known Member
  • Jun 29, 2019
  • #195
Nick said:
Because they don't want to upset wasps or the council.
Click to expand...

Why?
 

skyblueinBaku

Well-Known Member
  • Jun 29, 2019
  • #196
M&B Stand said:
Why?
Click to expand...
Because they have nailed their colours to the mast of the Wasps/CCC sinking ship.
 
Reactions: ccfchoi87

Esoterica

Well-Known Member
  • Jun 29, 2019
  • #197
skyblueindorset said:
Because they have nailed their colours to the mast of the Wasps/CCC sinking ship.
Click to expand...
I'd imagine Wasps are the biggest sponsor the CT have.
 
J

Jcap

Well-Known Member
  • Jun 29, 2019
  • #198
Nick said:
So they were going to try and revalue at £100m? hahahaha
Click to expand...
Only what I've been told, re training ground, revaluation. No idea how realistic that is. Also told that the reason Vodafone hasn't been rolled out as stadium name sponsor is because of the shenanigans with us... make of it all what you will, just passing it on.
 

chiefdave

Well-Known Member
  • Jul 1, 2019
  • #199
theferret said:
Rumours going round that ACL have laid off staff today and there was a problem paying wages. All not well there it would seem.
Click to expand...
EXCLUSIVE: Proposed job cuts at indebted Wasps owned Ricoh Arena – after Coventry City locked out
 

Nick

Administrator
  • Jul 1, 2019
  • #200
While it's sad that people lose their jobs, was going to be obvious it would happen.

Same with places like the Casino.
 

SkyBlueDom26

Well-Known Member
  • Jul 1, 2019
  • #201
Hopefully they wake up now and realize kicking us out will make them go bust...
 
B

Badger

Well-Known Member
  • Jul 1, 2019
  • #202
I've heard a rumour that the casino might be closing. There have been practically no customers on Saturday afternoons. I guess all casinos are suffering with all the online gaming available though.
 

chiefdave

Well-Known Member
  • Jul 1, 2019
  • #203
Badger said:
I've heard a rumour that the casino might be closing. There have been practically no customers on Saturday afternoons. I guess all casinos are suffering with all the online gaming available though.
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Well they certainly won't miss 300,000 city fans

 

Nick

Administrator
  • Jul 1, 2019
  • #204
Badger said:
I've heard a rumour that the casino might be closing. There have been practically no customers on Saturday afternoons. I guess all casinos are suffering with all the online gaming available though.
Click to expand...

Would be interesting how much business they get outside of events.

I know they put shows in sometimes and there are people in there but I have been in on a weeknight before and it was a handful of people in there. Haven't been in on a weekend night for a while but the last time there still wasn't that many people.
 

clint van damme

Well-Known Member
  • Jul 1, 2019
  • #205
I'm really struggling to understand their thinking.
They must have known this was coming and yet they've still played hardball.

Just don't get it at all.
 

fernandopartridge

Well-Known Member
  • Jul 1, 2019
  • #206
Not keen on the tone of Les Reid's article tbf
 

SkyBlueDom26

Well-Known Member
  • Jul 1, 2019
  • #207
fernandopartridge said:
Not keen on the tone of Les Reid's article tbf
Click to expand...
Better than any Gilbert article
 

Skyblueweeman

Well-Known Member
  • Jul 1, 2019
  • #208
fernandopartridge said:
Not keen on the tone of Les Reid's article tbf
Click to expand...

In what way?
 

fernandopartridge

Well-Known Member
  • Jul 1, 2019
  • #209
Skyblueweeman said:
In what way?
Click to expand...

I don't know, possibly feeling a bit sensitive but it's the idea of using that story as another dig at Wasps
 
Reactions: skybluepm2

Liquid Gold

Well-Known Member
  • Jul 1, 2019
  • #210
If I was being made redundant by them I'd be furious asking why they've turned way so much business.
 
Reactions: davy67, Skybluemichael, torchomatic and 1 other person
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