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Wasps going into admin & the impact on CCFC (7 Viewers)

  • Thread starter Alkhen
  • Start date Sep 21, 2022
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MalcSB

Well-Known Member
  • Oct 17, 2022
  • #3,501
jordan210 said:
Here's Stephen Vaughan's interview

BBC CWR Sport: Commentary - Wasps go into administration with debts of tens of millions of pounds. - BBC Sounds

In all 167 people have lost their jobs including players and coaching staff.
www.bbc.co.uk
Click to expand...
Theres a load of bollocks in that interview.
 
Reactions: Earlsdon_Skyblue1

ccfcrob

Well-Known Member
  • Oct 17, 2022
  • #3,502
jordan210 said:
Click to expand...
HEY! I didn't authorise the use of this
 
Reactions: Moff
H

HuckerbyDublinWhelan

Well-Known Member
  • Oct 17, 2022
  • #3,503
Brighton Sky Blue said:
A teary eyed Wasps head coach on SSN
Click to expand...

 
Reactions: vow and clint van damme

RegTheDonk

Well-Known Member
  • Oct 17, 2022
  • #3,504
Grendel said:
Bobby Bridge from the heart:

The darkest day in Wasps' history.

Well, let us digest that statement.

We were expecting Wasps to go into administration, but the most shocking line is that 'joint Administrators were required to make 167 employees redundant, including all members of the playing squads and coaching staff'.

This was the worst-case scenario for fans of the club, and for those employed by Wasps.

They are now out of work. Everything that was built by head coach Lee Blackett and his group, is now in ruins.

Young men whose dreams of playing in black and gold, crushed.

Men and women who depend on the club to pay their bills, now without an income.

The vast majority of these employees live in the real world financially. Modest incomes without great pools of reserves. This isn't football, the rewards in rugby are far, far smaller.

As the statement says, it's a dark day. The darkest in Wasps' history.

And the biggest tragedy of all. I will have to pay for a Rugby Shirt from now on
Click to expand...
Blame Richardson Bobby. Look on the bright side, he's probably got a shop full of shirts he can give you.
 

RegTheDonk

Well-Known Member
  • Oct 17, 2022
  • #3,505
jordan210 said:


Its not a place, Not a city not a town....

Well thats what happens when your a Francises you have home !
Click to expand...
Well, probably not "forever"
 
Reactions: Terry_dactyl, clint van damme and eastwoodsdustman

fernandopartridge

Well-Known Member
  • Oct 17, 2022
  • #3,506
MalcSB said:
Theres a load of bollocks in that interview.
Click to expand...

Mixed emotions in there? Really?

Broke even for 6 months?
 
Reactions: RegTheDonk

Saddlebrains

Well-Known Member
  • Oct 17, 2022
  • #3,507
Just had a nice chat with a friend of mine

Works for the council

Can now also say he's Gilberts leak so line up to buy him a pint

From Duggins directly (of course i cannot share on here) wasps are dead. Kaput. Gone. Will no longer be a club let alone in Coventry

There will be a vote on funding ACL in the time being, this is to ensure our games still go ahead, as the stadium at the mo literally hasnt a pot to piss in and contrary to media reports there is NO credible buyer for the stadium

Sisu are being 'strangely quiet' and council and sisu relations are nowhere near as frosty as they were.

The NEC are the only interested party at the mo, have lost 8.5 million in revenue to the CBS and is a case of cant beat them join them however they would not give 2 hoots about CCFC and is the worst possible thing that can happen

Will keep you all posted
 
Reactions: no_loyalty, Terry_dactyl, TwistAndShoutCCFC1987 and 10 others

Philosoraptor

Well-Known Member
  • Oct 17, 2022
  • #3,508
Grendel said:
Bobby Bridge from the heart:

The darkest day in Wasps' history.

Well, let us digest that statement.

We were expecting Wasps to go into administration, but the most shocking line is that 'joint Administrators were required to make 167 employees redundant, including all members of the playing squads and coaching staff'.

This was the worst-case scenario for fans of the club, and for those employed by Wasps.

They are now out of work. Everything that was built by head coach Lee Blackett and his group, is now in ruins.

Young men whose dreams of playing in black and gold, crushed.

Men and women who depend on the club to pay their bills, now without an income.

The vast majority of these employees live in the real world financially. Modest incomes without great pools of reserves. This isn't football, the rewards in rugby are far, far smaller.

As the statement says, it's a dark day. The darkest in Wasps' history.

And the biggest tragedy of all. I will have to pay for a Rugby Shirt from now on
Click to expand...

Coventry Telegraph Business Awards - Company of the Year 2016
 

SHUNT31

Well-Known Member
  • Oct 17, 2022
  • #3,509
Saddlebrains said:
Just had a nice chat with a friend of mine

Works for the council

Can now also say he's Gilberts leak so line up to buy him a pint

From Duggins directly (of course i cannot share on here) wasps are dead. Kaput. Gone. Will no longer be a club let alone in Coventry

There will be a vote on funding ACL in the time being, this is to ensure our games still go ahead, as the stadium at the mo literally hasnt a pot to piss in and contrary to media reports there is NO credible buyer for the stadium

Sisu are being 'strangely quiet' and council and sisu relations are nowhere near as frosty as they were.

The NEC are the only interested party at the mo, have lost 8.5 million in revenue to the CBS and is a case of cant beat them join them however they would not give 2 hoots about CCFC and is the worst possible thing that can happen

Will keep you all posted
Click to expand...

Don’t think he council can afford to make the mistake of pissing off the football club.

Imo, they need to bend over backwards for the club to ensure the lease goes to them.


Sent from my iPhone using Tapatalk
 
Reactions: Saddlebrains

fernandopartridge

Well-Known Member
  • Oct 17, 2022
  • #3,510
The council might want to think about splitting the lease up into parts - (1) the exhibition hall and (2) the stadium bowl
 
Reactions: davy67, djr8369, RegTheDonk and 7 others

Nick

Administrator
  • Oct 17, 2022
  • #3,511
fernandopartridge said:
The council might want to think about splitting the lease up into parts - (1) the exhibition hall and (2) the stadium bowl
Click to expand...
Then there's the casino and hotel too
 
Reactions: vow
H

HuckerbyDublinWhelan

Well-Known Member
  • Oct 17, 2022
  • #3,512
E
Saddlebrains said:
Just had a nice chat with a friend of mine

Works for the council

Can now also say he's Gilberts leak so line up to buy him a pint

From Duggins directly (of course i cannot share on here) wasps are dead. Kaput. Gone. Will no longer be a club let alone in Coventry

There will be a vote on funding ACL in the time being, this is to ensure our games still go ahead, as the stadium at the mo literally hasnt a pot to piss in and contrary to media reports there is NO credible buyer for the stadium

Sisu are being 'strangely quiet' and council and sisu relations are nowhere near as frosty as they were.

The NEC are the only interested party at the mo, have lost 8.5 million in revenue to the CBS and is a case of cant beat them join them however they would not give 2 hoots about CCFC and is the worst possible thing that can happen

Will keep you all posted
Click to expand...
if you’re not bullshitting - that NEC part is the one that concerns me and has done.

we need SISU to get involved asap.
 
Reactions: SBQuin, no_loyalty, TwistAndShoutCCFC1987 and 4 others

JAM See

Well-Known Member
  • Oct 17, 2022
  • #3,513
Saddlebrains said:
Just had a nice chat with a friend of mine

Works for the council

Can now also say he's Gilberts leak so line up to buy him a pint

From Duggins directly (of course i cannot share on here) wasps are dead. Kaput. Gone. Will no longer be a club let alone in Coventry

There will be a vote on funding ACL in the time being, this is to ensure our games still go ahead, as the stadium at the mo literally hasnt a pot to piss in and contrary to media reports there is NO credible buyer for the stadium

Sisu are being 'strangely quiet' and council and sisu relations are nowhere near as frosty as they were.

The NEC are the only interested party at the mo, have lost 8.5 million in revenue to the CBS and is a case of cant beat them join them however they would not give 2 hoots about CCFC and is the worst possible thing that can happen

Will keep you all posted
Click to expand...
Fuck me. That penultimate paragraph is bleak if I'm reading it correctly.
 
R

rexo87

Well-Known Member
  • Oct 17, 2022
  • #3,514
Saddlebrains said:
Just had a nice chat with a friend of mine

Works for the council

Can now also say he's Gilberts leak so line up to buy him a pint

From Duggins directly (of course i cannot share on here) wasps are dead. Kaput. Gone. Will no longer be a club let alone in Coventry

There will be a vote on funding ACL in the time being, this is to ensure our games still go ahead, as the stadium at the mo literally hasnt a pot to piss in and contrary to media reports there is NO credible buyer for the stadium

Sisu are being 'strangely quiet' and council and sisu relations are nowhere near as frosty as they were.

The NEC are the only interested party at the mo, have lost 8.5 million in revenue to the CBS and is a case of cant beat them join them however they would not give 2 hoots about CCFC and is the worst possible thing that can happen

Will keep you all posted
Click to expand...
My understanding is our sub lease is protected so at the very least we have 9 years at the CBS left even if the stadium owners dont care about us
 
Reactions: ccfcrob

chiefdave

Well-Known Member
  • Oct 17, 2022
  • #3,515
Saddlebrains said:
There will be a vote on funding ACL in the time being, this is to ensure our games still go ahead, as the stadium at the mo literally hasnt a pot to piss in and contrary to media reports there is NO credible buyer for the stadium

Sisu are being 'strangely quiet' and council and sisu relations are nowhere near as frosty as they were.

The NEC are the only interested party at the mo, have lost 8.5 million in revenue to the CBS and is a case of cant beat them join them however they would not give 2 hoots about CCFC and is the worst possible thing that can happen
Click to expand...
tbh I think the NEC taking over and not giving two hoots about us wouldn't be the worst thing. They can get on with running the hall and putting on events there and we can look after ourselves. Realistically we're not looking at much more than maintaining the pitch and doing that ourselves would be a plus to me.

Realistically the NEC would be quite happy to have revenue from hundreds of thousands of people a years and the stadium in use 20-something day a year. Not like they can knock the stadium down and use it as exhibition space and despite what a lot of Wasps fans thought the chance of the number of concerts every summer is slim.
 
Reactions: duffer

Nick

Administrator
  • Oct 17, 2022
  • #3,516
 
S

skyblu3sk

Well-Known Member
  • Oct 17, 2022
  • #3,517
rexo87 said:
My understanding is our sub lease is protected so at the very least we have 9 years at the CBS left even if the stadium owners dont care about us
Click to expand...
Could mean more pitch issues etc also would depend on the type of admin/liquidation for the arena as to if it would break the lease. A straight sale should in theory retain the lease.
 
B

Brighton Sky Blue

Well-Known Member
  • Oct 17, 2022
  • #3,518
HuckerbyDublinWhelan said:
E

if you’re not bullshitting - that NEC part is the one that concerns me and has done.

we need SISU to get involved asap.
Click to expand...

Or hope for somebody else wanting to own stadium and club.
 
Reactions: no_loyalty and davy67
N

napolimp

Well-Known Member
  • Oct 17, 2022
  • #3,519
chiefdave said:
tbh I think the NEC taking over and not giving two hoots about us wouldn't be the worst thing. They can get on with running the hall and putting on events there and we can look after ourselves. Realistically we're not looking at much more than maintaining the pitch and doing that ourselves would be a plus to me.

Realistically the NEC would be quite happy to have revenue from hundreds of thousands of people a years and the stadium in use 20-something day a year. Not like they can knock the stadium down and use it as exhibition space and despite what a lot of Wasps fans thought the chance of the number of concerts every summer is slim.
Click to expand...

Yeah, this. Makes sense for NEC group to buy the stadium, they have a monopoly on event venues in the West Mids. But they're hardly going to have an empty sports pitch are they, and you can't get rid of the pitch either. The main issue is that the club remains in the same state for the foreseeable future, until it has its own ground.
 

Tommo1993

Well-Known Member
  • Oct 17, 2022
  • #3,520
Seeing some Coventry based “fans” “upset”. Like seeing an overgrown child crying about a toy they were interested in for one day being taken away from them years later.
 
Reactions: SBQuin, eastwoodsdustman and Sky Blue Pete
H

HuckerbyDublinWhelan

Well-Known Member
  • Oct 17, 2022
  • #3,521
skyblu3sk said:
Could mean more pitch issues etc also would depend on the type of admin/liquidation for the arena as to if it would break the lease. A straight sale should in theory retain the lease.
Click to expand...
And this is why for The last 8 years to have meant something - SISU have got to buy the damn thing.

we all assumed Joy’s plan was to wait out wasps - now they’ve fucked off its time for them to strike
 
Reactions: SBQuin, skybluepm2, AOM and 4 others

SHUNT31

Well-Known Member
  • Oct 17, 2022
  • #3,522
Would the NEC be that interested though?

They’d get the exhibition hall to put events on which is smaller than their venue in Brum.

Would only be able to have concerts in the bowl for 3 months of the year, if that.

It just doesn’t seem viable. The only way I see the arena being profitable is with it being attached to a Premier League team.


Sent from my iPhone using Tapatalk
 
Reactions: vow, Sky Blue Pete and ccfcrob
R

rexo87

Well-Known Member
  • Oct 17, 2022
  • #3,523
HuckerbyDublinWhelan said:
And this is why for The last 8 years to have meant something - SISU have got to buy the damn thing.

we all assumed Joy’s plan was to wait out wasps - now they’ve fucked off its time for them to strike
Click to expand...
Theres not even been any suggestion that they are interested
 
Reactions: TwistAndShoutCCFC1987 and thekidfromstrettoncamp

COVKIDSNEVERQUIT

Well-Known Member
  • Oct 17, 2022
  • #3,524
Evo1883 said:
I reckon Ashley would be interested in ACL
Click to expand...


ACL have 2 weeks before they two will go into administration, that's when Ashley will strike.

If nothing happens then the football club will be locked out of the CBS arena.
 

SHUNT31

Well-Known Member
  • Oct 17, 2022
  • #3,525
rexo87 said:
Theres not even been any suggestion that they are interested
Click to expand...

Doesn’t mean they are not just because it’s not on public record.


Sent from my iPhone using Tapatalk
 

Mcbean

Well-Known Member
  • Oct 17, 2022
  • #3,526
I guess there should be good will offer made to Wasps season ticket holders to take CCFC season tickets for around £700 - bargain
 
Reactions: Sky Blue Pete

Saddlebrains

Well-Known Member
  • Oct 17, 2022
  • #3,527
Correct sorry should clear up, our lease for the next 8.5 years of course stands under any circumstance of a new stadium owner (if they dont also own the club)

But yes as stated on here previously NEC buying the place would be horrendous
 
S

skyblu3sk

Well-Known Member
  • Oct 17, 2022
  • #3,528
HuckerbyDublinWhelan said:
And this is why for The last 8 years to have meant something - SISU have got to buy the damn thing.

we all assumed Joy’s plan was to wait out wasps - now they’ve fucked off its time for them to strike
Click to expand...
I agree 100% I will be fucking delighted if we are finally the masters of our own destiny.
 
Reactions: HuckerbyDublinWhelan

fatso

Well-Known Member
  • Oct 17, 2022
  • #3,529
shmmeee said:
The only bid we’ve actually heard of is NEC right?
Click to expand...
We are unlikely to hear anything about potential bidders until such time as due diligence is completed. These things are rarely done in the public domain.
 

1ccfc

Well-Known Member
  • Oct 17, 2022
  • #3,530
rexo87 said:
Theres not even been any suggestion that they are interested
Click to expand...
Surly they must be? Why bother with all the court action in relation to the undervaluation in the lease wasps took? It's whether they are interested at a sensible valuation, or do they want it for nothing.
 

shmmeee

Well-Known Member
  • Oct 17, 2022
  • #3,531
fatso said:
We are unlikely to hear anything about potential bidders until such time as due diligence is completed. These things are rarely done in the public domain.
Click to expand...

Id hope so. One of the reasons I write off any bid we first hear about from the Telegraph.

Impatient now. New owners by the WC please.
 
Reactions: AOM and fatso

Liquid Gold

Well-Known Member
  • Oct 17, 2022
  • #3,532
COVKIDSNEVERQUIT said:
ACL have 2 weeks before they two will go into administration, that's when Ashley will strike.

If nothing happens then the football will be locked out of the CBS arena.
Click to expand...
No, it means the administrators would be in control of the arena.

They won't void the lease or the lock the club out as it will deprive them of one of the few streams of income they have.

Wasps have got rid off all their staff because they already had the administrators in and must have been informed that there is no way to afford them. It will be a completely different situation for ACL.
 
Reactions: duffer, AOM and Skyblueweeman

fatso

Well-Known Member
  • Oct 17, 2022
  • #3,533
shmmeee said:
Id hope so. One of the reasons I write off any bid we first hear about from the Telegraph.

Impatient now. New owners by the WC please.
Click to expand...
By the toilet ?????
 
Reactions: skybluepm2 and Brighton Sky Blue

chiefdave

Well-Known Member
  • Oct 17, 2022
  • #3,534
napolimp said:
But they're hardly going to have an empty sports pitch are they, and you can't get rid of the pitch either. The main issue is that the club remains in the same state for the foreseeable future, until it has its own ground.
Click to expand...
I know we all said this before Wasps turned up but after the disaster its been for them can we really see another team giving it a go? Realistically who could come anywhere close to getting 10K let alone 30K?
SHUNT31 said:
Would the NEC be that interested though?

They’d get the exhibition hall to put events on which is smaller than their venue in Brum.

Would only be able to have concerts in the bowl for 3 months of the year, if that.

It just doesn’t seem viable. The only way I see the arena being profitable is with it being attached to a Premier League team.
Click to expand...
The NEC Group has been diversifying in the last couple of years into owning and operating other venues so it fits pretty much perfectly for them.

How many stadiums in the country manage to exist with just a football club and zero concerts. Not sure why its not viable for Coventry when so many other cities in the country can manage it.
 

1ccfc

Well-Known Member
  • Oct 17, 2022
  • #3,535
This gives Sisu their exit. They've got half the puzzle in the club. Get the stadium and sell the lot. Everyone's a winner.
 
Reactions: vow and duffer
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