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Wasps going into admin & the impact on CCFC (10 Viewers)

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

Well-Known Member
  • Oct 17, 2022
  • #3,571
Philosorapter said:

I'm going to say it. Not a lot of thought went into the 'people' when uprooting a sporting team and placing them in a city 80 miles away.

Here's one of the petitions from Wasps supporters at that time.

Sign Petition: Keep Wasps RFC in/around London

Wasps RFC (formerly London Wasps) has been based in/around London since its inception in 1867. However, recent rumours have linked (2970 signatures on petition)
www.thepetitionsite.com

#AllAboutTheMoney
Click to expand...
Anyone on here can change that to “once a wasp, now a Cov” and post it for these poor souls ?
 

Sky Blue Harry H

Well-Known Member
  • Oct 17, 2022
  • #3,572
hill83 said:
His next comment says ‘would of’.

File under thick c**t.
Click to expand...

Sports journalist AND.... Former media and communications deputy at Nuneaton Borough FC

https://giphy.com/UReCLsUnQI26uBoTVH
 
Reactions: djr8369

Colin Steins Smile

Well-Known Member
  • Oct 17, 2022
  • #3,573
Would I be correct in my view that Wasps Holdings owns ACL?

If I'm correct then can someone clarify how ACL can continue to operate, if it's parent company is placed in administration? Or has ACL been separated from Wasps Holdings recently?
 

hill83

Well-Known Member
  • Oct 17, 2022
  • #3,574
Sky Blue Harry H said:
Sports journalist AND.... Former media and communications deputy at Nuneaton Borough FC

https://giphy.com/UReCLsUnQI26uBoTVH
Click to expand...

But doesn’t know his their/there’s either. Whoops.
 
Reactions: Sky Blue Harry H

Sky Blue Harry H

Well-Known Member
  • Oct 17, 2022
  • #3,575
hill83 said:
But doesn’t know his their/there’s either. Whoops.
Click to expand...

That's why he only made Deputy?!
 

duffer

Well-Known Member
  • Oct 17, 2022
  • #3,576
Colin Steins Smile said:
Would I be correct in my view that Wasps Holdings owns ACL?

If I'm correct then can someone clarify how ACL can continue to operate, if it's parent company is placed in administration? Or has ACL been separated from Wasps Holdings recently?
Click to expand...


Yep - see a long, boring post above, by, erm... a friend.

ACL 100% owned by Wasps Holdings, and a guarantor for the £35m bondholder debt. The only way they continue operate is under new ownership, imho.
 
Reactions: Skyblueweeman

hill83

Well-Known Member
  • Oct 17, 2022
  • #3,577
Already got an ex Cov and now ex wasps fan friend trying to worm his way back in. I’m a forgiving person but he’ll be getting stick for a long time.
 
Reactions: Skyblueweeman, Terry Gibson's perm and duffer

hill83

Well-Known Member
  • Oct 17, 2022
  • #3,578
Sky Blue Harry H said:
That's why he only made Deputy?!
Click to expand...

Must have shot the sheriff.
 
Reactions: Sky Blue Harry H and Calista

Bad Boy

Well-Known Member
  • Oct 17, 2022
  • #3,579
I suspect there may be a few at Coventry RFC that will more than a little pleased about today's events?
 
Reactions: Kieranp96, Red House Coaches, Skyblueweeman and 2 others
O

oldfiver

Well-Known Member
  • Oct 17, 2022
  • #3,580
duffer said:
Might well not be worth the £35m, Nick, but the bondholders will want to recover what they can for it. Hence it inevitably being sold to someone, and us getting new landlords.

As said many times elsewhere, imagine if someone came in now, bought us and the stadium and tied it all back together (even as OpCo/PropCo).

Then, with someone half-decent running the stadium, the club isn't reliant solely on a benevolent owner for income - and there's wriggle room for FFP (if that actually becomes a real thing).

It's a dream, I know, but it is within the realms of possibility for a few weeks at least.
Click to expand...

Don't forget Compass also have a charge to satisfy

There are anecdotal estimates of £25m for refurbishment and upgrade

Whatever the value a purchaser would probably only raise 60% ltv funding

None of these lead me to think it's a worthwhile risk for SISU. Until at least someone else leads with an offer for comparison
 
Reactions: CCFCSteve and sometimesDanielle

chiefdave

Well-Known Member
  • Oct 17, 2022
  • #3,581
CCFC54321 said:
My understanding and I happy to be corrected but due to the considerable work required the stadium is not valued at £35m anymore?
Click to expand...
That's the rumour, and its a pretty strong rumour. It first came out that structural engineers were called in due to cracks being discovered, which was of course denied by Wasps but they later had to admit it was correct. I wouldn't be confident that any work was done to a high standard, if at all. It will have been the cheapest temporary fix possible.
 

hill83

Well-Known Member
  • Oct 17, 2022
  • #3,582
Stephen Vaughan - “We're going to look at what life in the Championship would be like, we're going to see if there is still the appetite”

Going to assume he’s talking about his back pocket here.
 
O

oldfiver

Well-Known Member
  • Oct 17, 2022
  • #3,583
Colin Steins Smile said:
Would I be correct in my view that Wasps Holdings owns ACL?

If I'm correct then can someone clarify how ACL can continue to operate, if it's parent company is placed in administration? Or has ACL been separated from Wasps Holdings recently?
Click to expand...

Classic opco/ propco arrangement
 

duffer

Well-Known Member
  • Oct 17, 2022
  • #3,584
Wasps back but in the Championship next season? If they do that down south, where they belong, then good luck to them.

I've got every sympathy for their original fans, and their current players and coaches, who are now in a shit position. But I never, ever, want to see them in this city again unless it's playing Cov RFC as the away team.

Wasps exclusive: 'We're all sad and angry, including me' - Stephen Vaughan

Group chief executive is among those who have been made redundant after Wasps entered into administration
www.coventrytelegraph.net
 
Reactions: AOM, Red House Coaches, Finham and 7 others

fatso

Well-Known Member
  • Oct 17, 2022
  • #3,585
Philosorapter said:

I'm going to say it. Not a lot of thought went into the 'people' when uprooting a sporting team and placing them in a city 80 miles away.

Here's one of the petitions from Wasps supporters at that time.

Sign Petition: Keep Wasps RFC in/around London

Wasps RFC (formerly London Wasps) has been based in/around London since its inception in 1867. However, recent rumours have linked (2970 signatures on petition)
www.thepetitionsite.com

#AllAboutTheMoney
Click to expand...
Well said, in the end it was fuck all to do with the people at all, wasps let their own fans down when they fucked off and ended up 80 miles up north! They didn't give a shit about any of the fans or employees then, and they don't give a fuck now.

Do they give a fuck about their season ticket holders who are out of pocket?
Or all the bond holders?
Or fans who bought tickets in the last couple of weeks when the heigherarchy new they were about to fold ?
They were cunts years ago, and they are still cunts now.
 
Reactions: SBQuin, robbiethemole, TomRad85 and 7 others
B

Brighton Sky Blue

Well-Known Member
  • Oct 17, 2022
  • #3,586
Interesting that VV booted me off the forum when not even a confirmed troll but just for being a bit too critical of Wasps.
 

clint van damme

Well-Known Member
  • Oct 17, 2022
  • #3,587
fatso said:
Well said, in the end it was fuck all to do with the people at all, wasps let their own fans down when they fucked off and ended up 80 miles up north! They didn't give a shit about any of the fans or employees then, and they don't give a fuck now.

Do they give a fuck about their season ticket holders who are out of pocket?
Or all the bond holders?
Or fans who bought tickets in the last couple of weeks when the heigherarchy new they were about to fold ?
They were cunts years ago, and they are still cunts now.
Click to expand...

This 'think of the people who are losing their jobs' is disingenuous bollocks.
And I haven't seen any City supporter gloating about that aspect of it anyway.
 
Reactions: Terry_dactyl, robbiethemole, Skyblueweeman and 4 others

chiefdave

Well-Known Member
  • Oct 17, 2022
  • #3,588
duffer said:
Wasps back but in the Championship next season? If they do that down south, where they belong, then good luck to them.

I've got every sympathy for their original fans, and their current players and coaches, who are now in a shit position. But I never, ever, want to see them in this city again unless it's playing Cov RFC as the away team.

Wasps exclusive: 'We're all sad and angry, including me' - Stephen Vaughan

Group chief executive is among those who have been made redundant after Wasps entered into administration
www.coventrytelegraph.net
Click to expand...
The guys wanted to know, will there be a Wasps next year? Will it be the Premiership? Will it be in the Championship? How do we play a part in that?
Click to expand...
Why's he talking about "we are going to be recouping this week. We're going to look at what life in the Championship would be like, we're going to see if there is still the appetite" when the article says he's one of the people who was made redundant?

The players will def hang around unpaid until next season when they'll be on championship level wages, they won't be signing for the first club that makes them an offer.

Delusional until the end.
 

hill83

Well-Known Member
  • Oct 17, 2022
  • #3,589
clint van damme said:
This 'think of the people who are losing their jobs' is disingenuous bollocks.
And I haven't seen any City supporter gloating about that aspect of it anyway.
Click to expand...

Feel like I need to caveat everything I say with that today.

“Obviously I feel bad for all the staff who were a part of wasps, but I’m off for a turd”
 
Reactions: Terry_dactyl, OldBedrocker, RegTheDonk and 2 others

Liquid Gold

Well-Known Member
  • Oct 17, 2022
  • #3,590
hill83 said:
His next comment says ‘would of’.

File under thick c**t.
Click to expand...
Now you've turned half the forum against you
 
Reactions: SkyBlueCharlie9 and hill83

hill83

Well-Known Member
  • Oct 17, 2022
  • #3,591
Liquid Gold said:
Now you've turned half the forum against you
Click to expand...

Should of thunk before I posted.
 

rob9872

Well-Known Member
  • Oct 17, 2022
  • #3,592
Can we rearrange the wording in the dark blue seats now? I have a few suggestions.
 
Reactions: duffer

fernandopartridge

Well-Known Member
  • Oct 17, 2022
  • #3,593
hill83 said:
His next comment says ‘would of’.

File under thick c**t.
Click to expand...
Jesus wept


Sent from my SM-G935F using Tapatalk
 

Ian1779

Well-Known Member
  • Oct 17, 2022
  • #3,594
Anne Lucas said to be distraught….

 
Reactions: Pete in Portugal, Kieranp96, no_loyalty and 42 others

M&B Stand

Well-Known Member
  • Oct 17, 2022
  • #3,595
Ian1779 said:
Anne Lucas said to be distraught….

View attachment 26660
Click to expand...

No longer washing its face.
 
Reactions: Calista and duffer

shepardo01

Well-Known Member
  • Oct 17, 2022
  • #3,596
Ian1779 said:
Anne Lucas said to be distraught….

View attachment 26660
Click to expand...
Brilliant!!!!!
 

jordan210

Well-Known Member
  • Oct 17, 2022
  • #3,597
"
- HMRC called in the balance on their debt despite a payment plan that was being followed as agreed
- HSBC reneged on financing at the Eleventh Hour
- pre-covid the group had 6 months of breakeven months

"

So it was HMRC's, HSBC and coves fault not anyone at wasps


Wasps exclusive: 'We're all sad and angry, including me' - Stephen Vaughan

Group chief executive is among those who have been made redundant after Wasps entered into administration
www.coventrytelegraph.net
 
Reactions: duffer and Saddlebrains
P

procdoc

Well-Known Member
  • Oct 17, 2022
  • #3,598
Feel sorry for the 170 people who lost their jobs today. But fuck Wasps, good riddance
 
Reactions: tisza, TwistAndShoutCCFC1987, SBbucks and 2 others

Terry Gibson's perm

Well-Known Member
  • Oct 17, 2022
  • #3,599
Wonder how the Higgs “charity” are feeling lost all that income from the tickets in the stand, must have been at least twenty pounds per season
 

Terry Gibson's perm

Well-Known Member
  • Oct 17, 2022
  • #3,600
procdoc said:
Feel sorry for the 170 people who lost their jobs today. But fuck Wasps, good riddance
Click to expand...


Some of them but some will have been the architects of the down fall.
 

Liquid Gold

Well-Known Member
  • Oct 17, 2022
  • #3,601
 
Reactions: Terry_dactyl, B-Ban-Boogie, TwistAndShoutCCFC1987 and 6 others

Grendel

Well-Known Member
  • Oct 17, 2022
  • #3,602
jordan210 said:
"
- HMRC called in the balance on their debt despite a payment plan that was being followed as agreed
- HSBC reneged on financing at the Eleventh Hour
- pre-covid the group had 6 months of breakeven months

"

So it was HMRC's, HSBC and coves fault not anyone at wasps


Wasps exclusive: 'We're all sad and angry, including me' - Stephen Vaughan

Group chief executive is among those who have been made redundant after Wasps entered into administration
www.coventrytelegraph.net
Click to expand...

Vaughans lack of grip on reality is extraordinary
 
Reactions: Skyblueweeman, Finham, Sky Blue Pete and 7 others

Paul Anthony

Well-Known Member
  • Oct 17, 2022
  • #3,603
jordan210 said:
"
- HMRC called in the balance on their debt despite a payment plan that was being followed as agreed
- HSBC reneged on financing at the Eleventh Hour
- pre-covid the group had 6 months of breakeven months

"

So it was HMRC's, HSBC and coves fault not anyone at wasps


Wasps exclusive: 'We're all sad and angry, including me' - Stephen Vaughan

Group chief executive is among those who have been made redundant after Wasps entered into administration
www.coventrytelegraph.net
Click to expand...

Of course it was. The whole way along it's been everyone else fault but theirs.
 

Gynnsthetonic

Well-Known Member
  • Oct 17, 2022
  • #3,604
Well, ACL 2006 have 10 working days to find a buyer, if that doesn't happen and they go bump too what happens then?
Will Sisu show an interest, a big couple of weeks coming up especially with 3 home games on the trot coming up
 

Terry Gibson's perm

Well-Known Member
  • Oct 17, 2022
  • #3,605
Grendel said:
Vaughans lack of grip on reality is extraordinary
Click to expand...


People like him have to kept an eye on in the future you wouldn’t want him rocking up somewhere and helping fuck them up as well (unless he went down the m69and helped those mutants)
 
Reactions: OldBedrocker and eastwoodsdustman
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