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Wasps going into admin & the impact on CCFC (9 Viewers)

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

Well-Known Member
  • Oct 18, 2022
  • #3,781
CCFC54321 said:
What a twonk.
Click to expand...


He was claiming to be the bloke that got us back to Cov wasn't he?

We came back because CBS wouldn't sponsor the stadium without us and Wasps were fucking penniless

Could have had Bin Laden leading negotiations for us and we would have still come back, the bloke looks like a slipper
 
Reactions: djr8369, RegTheDonk and Colin Steins Smile

Liquid Gold

Well-Known Member
  • Oct 18, 2022
  • #3,782
My favourite so far is that they went bust because of legal fees sisu made them pay
 
Reactions: Frostie, Otis, duffer and 1 other person

Skyblueweeman

Well-Known Member
  • Oct 18, 2022
  • #3,783
CCFC54321 said:
What a twonk.
Click to expand...

Has he forgotten that there was already a professional rugby team that was already in Coventry??
 
Reactions: SBQuin, Sick Boy, Deleted member 5849 and 15 others

duffer

Well-Known Member
  • Oct 18, 2022
  • #3,784
skybluetony176 said:
What would be funny is if we quietly rearrange the seats that spell out Wasps in the stands while the game is going on so when everyone leaves it no longer says Wasps.
Click to expand...

I've not looked closely, but I reckon a 13 or 14mm socket would be the right size. Just need a distraction from the flare boys in Singer's corner and it's game on.
 
Reactions: Saddlebrains and Red House Coaches
C

CCFC54321

Well-Known Member
  • Oct 18, 2022
  • #3,785
Skyblueweeman said:
Has he forgotten that there was already a professional rugby team that was already in Coventry??
Click to expand...
I’d say he didn’t even know mate.
 
Reactions: Kneeza, Red House Coaches and duffer

lordsummerisle

Well-Known Member
  • Oct 18, 2022
  • #3,786
Well done all, MMM crying now.
 
Reactions: Sick Boy, fernandopartridge, RegTheDonk and 5 others

Liquid Gold

Well-Known Member
  • Oct 18, 2022
  • #3,787
lordsummerisle said:
Well done all, MMM crying now.
Click to expand...
Overflowing with the most melancholic hysteria to distress hisown physiognomy this past decennium.
 
Reactions: Sick Boy, fernandopartridge and lordsummerisle

shepardo01

Well-Known Member
  • Oct 18, 2022
  • #3,788
Get your questions in to Cllr Gary Ridley on twitter ...
 
Reactions: MacReady, RegTheDonk and Saddlebrains

AOM

Well-Known Member
  • Oct 18, 2022
  • #3,789
Skyblueweeman said:
Has he forgotten that there was already a professional rugby team that was already in Coventry??
Click to expand...

I've also heard a few times "It's sad the Coventry area is now losing a local sports team..."
The local team are still here!
 
Reactions: CovBrummie94, SBQuin, GaryJones and 6 others
B

Brighton Sky Blue

Well-Known Member
  • Oct 18, 2022
  • #3,790
CCFC54321 said:
I’d say he didn’t even know mate.
Click to expand...

You want some?
 
Reactions: Nick
S

SkyBlueSam01

Well-Known Member
  • Oct 18, 2022
  • #3,791
skybluetony176 said:
What would be funny is if we quietly rearrange the seats that spell out Wasps in the stands while the game is going on so when everyone leaves it no longer says Wasps.
Click to expand...

'SWAPS'
 
Reactions: Saddlebrains
C

CCFC54321

Well-Known Member
  • Oct 18, 2022
  • #3,792
Brighton Sky Blue said:
You want some?
Click to expand...
Yes please.
 
B

Brighton Sky Blue

Well-Known Member
  • Oct 18, 2022
  • #3,793
skybluetony176 said:
What would be funny is if we quietly rearrange the seats that spell out Wasps in the stands while the game is going on so when everyone leaves it no longer says Wasps.
Click to expand...

Remove the ‘w’ and the ‘p’
 
B

Brighton Sky Blue

Well-Known Member
  • Oct 18, 2022
  • #3,794
CCFC54321 said:
Yes please.
Click to expand...

He’ll give it ya
 
Reactions: CCFC54321
S

SkyBlueSam01

Well-Known Member
  • Oct 18, 2022
  • #3,795
Kneeza said:
Perhaps we should rearrange it to 'SWAPS' ?
Click to expand...

Beat me to it!
 

duffer

Well-Known Member
  • Oct 18, 2022
  • #3,796
steve cooper said:
If you own a leasehold home, in theory once the lease expires the property standing on the leasehold ground then belongs to the leaseholder. This doesn't usually happen in practice (if the lease is extended prior to expiry).

Buying or owning a leasehold home

www.gov.uk
Depending on the terms of the lease, that may apply to the arena, in which case if CCC revoke the lease upon admin, then the administrator has nothing to sell, and the arena belongs to CCC. I am assuming that is correct.
Click to expand...

The bondholders have a mortgage on the lease, that's clear enough in the prospectus.

I honestly don't think that it will just revert to the council if ACL go into administration.

There could well be a big bunfight brewing over this, but I think it's more likely that as the freeholder the council were already aware and probably agreed to allow Wasps to mortgage the lease so that they could issue the bonds.

Joining the dots, it might explain why the council would rather ACL didn't go into admin, it would save awkward questions about why they allowed a security that prevents the freehold (edit: leasehold) automatically reverting back to them if Wasps went pop.

Just a theory, and just mho. The mortgage is a fact though.
 
Last edited: Oct 18, 2022
Reactions: steve cooper and Colin Steins Smile

Skyblueweeman

Well-Known Member
  • Oct 18, 2022
  • #3,797
Liquid Gold said:
Overflowing with the most melancholic hysteria to distress hisown physiognomy this past decennium.
Click to expand...

You swallowed a dictionary mate?
 
Reactions: SBQuin, ccfcchris, Godiva and 5 others

Liquid Gold

Well-Known Member
  • Oct 18, 2022
  • #3,798
Halftime entertainment can someone just nick thier mascot outfit and whoever has got kick it for a ticket chases them round the pitch and gives them a good kick in.
 
Reactions: SBQuin, GaryJones, montydon87 and 3 others

Nick

Administrator
  • Oct 18, 2022
  • #3,799
Surely Andy Street knows about Cov Rugby Club?
 
Reactions: GaryJones, AOM and Skyblueweeman
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robbiethemole

Well-Known Member
  • Oct 18, 2022
  • #3,800
We would all absolutely want to stay in Coventry,” said Wasps chief Vaughan in a local area BBC CWR radio interview. “Coventry, the people, I know you get the naysayers which we will always have but all the authorities, we have got a wonderful training facility in Henley-in-Arden, absolutely, our first choice would be Coventry and the West Midlands, without a shadow of a doubt.

This fucker has to be the biggest bullshitter ever
 
Reactions: SBS, Sky Blue Pete, Kneeza and 3 others
R

rexo87

Well-Known Member
  • Oct 18, 2022
  • #3,801
I don't like Andy Street so don't go all mental at me but... aren't Cov Rugby technically semi pro so what he is saying is kinda true?

Sent from my SM-G991B using Tapatalk
 

duffer

Well-Known Member
  • Oct 18, 2022
  • #3,802
rexo87 said:
I don't like Andy Street so don't go all mental at me but... aren't Cov Rugby technically semi pro so what he is saying is kinda true?

Sent from my SM-G991B using Tapatalk
Click to expand...

Fair question, but Coventry aren't semi-pro. Street was dead wrong about this.
 
Reactions: AOM, SkyBlueSam01, Red House Coaches and 1 other person

Colin Steins Smile

Well-Known Member
  • Oct 18, 2022
  • #3,803
Grendel said:
The football club accounts for less than 5% of ACL revenues
Click to expand...
Does that figure take into account the secondary spend? A wholistic assessment of ccfc occupancy would be more accurate, rather than a single cost centre.
 

Calista

Well-Known Member
  • Oct 18, 2022
  • #3,804
Under any new owner, will the stadium be (at least initially) debt free?

If so, the only debt that isn’t going to be dealt with (one way or another) by this process is whatever is owed to Sisu. How much is involved?
 

Philosoraptor

Well-Known Member
  • Oct 18, 2022
  • #3,805
robbiethemole said:
We would all absolutely want to stay in Coventry,” said Wasps chief Vaughan in a local area BBC CWR radio interview. “Coventry, the people, I know you get the naysayers which we will always have but all the authorities, we have got a wonderful training facility in Henley-in-Arden, absolutely, our first choice would be Coventry and the West Midlands, without a shadow of a doubt.

This fucker has to be the biggest bullshitter ever
Click to expand...

Don't listen to what they say, watch the moves on the board to see what they are up to.

What they say and what they do are two entirely separate things.

Things of interest today, CCC Full council meeting usually at 2.00pm I believe.

Whilst the boredom takes over watching the meeting, the usual question of how tired Duggins looks and which one of the mushrooms will take over next always springs to mind.
 
Reactions: Hiraeth

Red House Coaches

Active Member
  • Oct 18, 2022
  • #3,806
Nick said:
Surely Andy Street knows about Cov Rugby Club?
Click to expand...
Doesn't sound like it.
 

Red House Coaches

Active Member
  • Oct 18, 2022
  • #3,807
rexo87 said:
I don't like Andy Street so don't go all mental at me but... aren't Cov Rugby technically semi pro so what he is saying is kinda true?

Sent from my SM-G991B using Tapatalk
Click to expand...
No. Fully professional.
 

Skyblueweeman

Well-Known Member
  • Oct 18, 2022
  • #3,808
rexo87 said:
I don't like Andy Street so don't go all mental at me but... aren't Cov Rugby technically semi pro so what he is saying is kinda true?

Sent from my SM-G991B using Tapatalk
Click to expand...

They're a professional rugby team
 

clint van damme

Well-Known Member
  • Oct 18, 2022
  • #3,809
shepardo01 said:
Get your questions in to Cllr Gary Ridley on twitter ...
Click to expand...

Wheres the Lord mayor gone?
 
Reactions: RegTheDonk and Gynnsthetonic
R

rexo87

Well-Known Member
  • Oct 18, 2022
  • #3,810
Fair enough Streets just a prick then. Did they turn pro recently? Sure they were semi pro not long back

Sent from my SM-G991B using Tapatalk
 

clint van damme

Well-Known Member
  • Oct 18, 2022
  • #3,811
State of this

 
Reactions: Sick Boy, SomersetSB, Skyblueweeman and 4 others
H

HuckerbyDublinWhelan

Well-Known Member
  • Oct 18, 2022
  • #3,812
robbiethemole said:
We would all absolutely want to stay in Coventry,” said Wasps chief Vaughan in a local area BBC CWR radio interview. “Coventry, the people, I know you get the naysayers which we will always have but all the authorities, we have got a wonderful training facility in Henley-in-Arden, absolutely, our first choice would be Coventry and the West Midlands, without a shadow of a doubt.

This fucker has to be the biggest bullshitter ever
Click to expand...
Eyeing up the Alexandra stadium maybe?
 
Reactions: Hiraeth
C

CCFCSteve

Well-Known Member
  • Oct 18, 2022
  • #3,813
Calista said:
Under any new owner, will the stadium be (at least initially) debt free?

If so, the only debt that isn’t going to be dealt with (one way or another) by this process is whatever is owed to Sisu. How much is involved?
Click to expand...

The most likely solution is that following administration the stadium/long lease is sold* and bondholders get Xp in the pound (as I can’t see it selling for more than £35m and that’s before any professional fees). At that point the stadium will be free from any debts/liabilities…unless new owner has borrowed against it

*there might be a period of trading I guess and that’s what CCC might have to help fund. If so, they’d receive repayment of this before bondholders receive their distribution
 
C

Citysince47

Well-Known Member
  • Oct 18, 2022
  • #3,814
Skyblueweeman said:
Has he forgotten that there was already a professional rugby team that was already in Coventry??
Click to expand...
Not only that but they have been in existence since 1874. Even older than the City
 
Reactions: Red House Coaches, Skyblueweeman, Otis and 2 others
R

rexo87

Well-Known Member
  • Oct 18, 2022
  • #3,815
If anyone's sad enough to want to watch the council meeting... believe its at 2. Pre drink at 1 in preparation

Home - Coventry City Council Webcasting

Home - Coventry City Council Webcasting
Coventry.public-I.tv

Sent from my SM-G991B using Tapatalk
 
Reactions: duffer, SkyBlueSam01, Saddlebrains and 1 other person
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