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Wasps going into admin & the impact on CCFC (3 Viewers)

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

Well-Known Member
  • Oct 18, 2022
  • #3,851
TomRad85 said:
There's a few on Facebook and Twitter by the looks giving the faux sadness over the redundancies. It's not ideal for them obviously but people get made redundant every day, people who don't work for parasites and I absolutely will not have my enjoyment over Wasps going pop being spoiled by a few social media suck ups.

Sent from my SM-G973F using Tapatalk
Click to expand...
Probably the same people who queued up for 2 and half days to see the Queen's coffin.
 
Reactions: Finham, torchomatic and Kneeza

Nick

Administrator
  • Oct 18, 2022
  • #3,852
Otis said:
Probably the same people who queued up for 2 and half days to see the Queen's coffin.
Click to expand...

Does a cry wank over Diana count?

Asking for a friend.
 
Reactions: torchomatic, CCFCSteve and Otis

Briles

Well-Known Member
  • Oct 18, 2022
  • #3,853
TomRad85 said:
There's a few on Facebook and Twitter by the looks giving the faux sadness over the redundancies. It's not ideal for them obviously but people get made redundant every day, people who don't work for parasites and I absolutely will not have my enjoyment over Wasps going pop being spoiled by a few social media suck ups.

Sent from my SM-G973F using Tapatalk
Click to expand...

Its Just people taking pseudo moralistic stances on social issues in order to look good to their mates/Family. Nobody not directly affected cares.
 
Reactions: Nick and TomRad85

Joy Division

Well-Known Member
  • Oct 18, 2022
  • #3,854
Surely they must have been aware for years in advance that there was never going to be a chance to pay back the bonds. I'm not sure even the most optimistic person could have thought there would be any turnaround of fortunes, surely that must be looked into by the authorities.

Also, what happened to the money they received after selling their former ground for housing development?
 
Reactions: Paul Anthony

Johnnythespider

Well-Known Member
  • Oct 18, 2022
  • #3,855
Liquid Gold said:
My favourite so far is that they went bust because of legal fees sisu made them pay
Click to expand...
I wish this was true
 
Reactions: Briles

Nick

Administrator
  • Oct 18, 2022
  • #3,856

Does he even know he is / was a director?
 
Reactions: Sky Blue Pete

Liquid Gold

Well-Known Member
  • Oct 18, 2022
  • #3,857
Nick said:

Does he even know he is / was a director?
Click to expand...
 
Reactions: torchomatic, duffer, CCFCSteve and 2 others

jordan210

Well-Known Member
  • Oct 18, 2022
  • #3,858
 

Nick

Administrator
  • Oct 18, 2022
  • #3,859

Wasps: 'The past caught up with us', says Coventry-based club's CEO Stephen Vaughan

Wasps chief executive Stephen Vaughan says the Premiership club were "timed out" in their bid to be saved from administration.
www.bbc.com

How can they say they thought they were going to be able to pay the bondholders?
 

SkyBlue_Bear83

Well-Known Member
  • Oct 18, 2022
  • #3,860
TomRad85 said:
There's a few on Facebook and Twitter by the looks giving the faux sadness over the redundancies. It's not ideal for them obviously but people get made redundant every day, people who don't work for parasites and I absolutely will not have my enjoyment over Wasps going pop being spoiled by a few social media suck ups.

Sent from my SM-G973F using Tapatalk
Click to expand...
How many of the 167 are actually full time employees I wonder?

Players and coaching staff will be fine, they will be fine. People who were in the higher management and business decisions were responsible for the mess.
 

Grendel

Well-Known Member
  • Oct 18, 2022
  • #3,861
jordan210 said:
Click to expand...

The truth is it’s exposing our vulnerability and the total bollocks about a new stadium
 
Reactions: RegTheDonk

Gynnsthetonic

Well-Known Member
  • Oct 18, 2022
  • #3,862
So if ACL go into Admin next week what happens then?
 

Frostie

Well-Known Member
  • Oct 18, 2022
  • #3,863
Nick said:
It's mad how little the Wasps fans seem to know.

Maybe it was before they got given a free flag?
Click to expand...

I was going to say this but then I guess it explains why those actually to blame (Richardson, Eastwood, Vaughan etc.) were never called to account (and still aren't). It's all everyone else's fault.

Maybe it's a lack of passion? The general apathy to it all pretty much sums up a sport which should never have gone pro.
 

Nick

Administrator
  • Oct 18, 2022
  • #3,864
Frostie said:
I was going to say this but then I guess it explains why those actually to blame (Richardson, Eastwood, Vaughan etc.) were never called to account (and still aren't). It's all everyone else's fault.

Maybe it's a lack of passion? The general apathy to it all pretty much sums up a sport which should never have gone pro.
Click to expand...

I am still going to say it, the local media too.

Bobby Bridge just copied and pasted what he was told to. How everything was rosy.
 
Reactions: torchomatic and Frostie

jordan210

Well-Known Member
  • Oct 18, 2022
  • #3,865
Prem rugbys fault now

 

ovduk78

Well-Known Member
  • Oct 18, 2022
  • #3,866
Frostie said:
I was going to say this but then I guess it explains why those actually to blame (Richardson, Eastwood, Vaughan etc.) were never called to account (and still aren't). It's all everyone else's fault.

Maybe it's a lack of passion? The general apathy to it all pretty much sums up a sport which should never have gone pro.
Click to expand...
How can Vaughan blame HSBC for not lending them the money when he himself knew what a financial mess they were in? How were they ever going to pay off the loan from HSBC when they were losing £175,000 per week?
 
Reactions: GaryMabbuttsLeftKnee and Frostie
B

Brighton Sky Blue

Well-Known Member
  • Oct 18, 2022
  • #3,867
Grendel said:
The truth is it’s exposing our vulnerability and the total bollocks about a new stadium
Click to expand...

If we aren't sold now we're stuck with Seppalla till she dies
 
Reactions: Saddlebrains

clint van damme

Well-Known Member
  • Oct 18, 2022
  • #3,868
Brighton Sky Blue said:
If we aren't sold now we're stuck with Seppalla till she dies
Click to expand...

Or for some of us, until we die.
 
Reactions: TwistAndShoutCCFC1987, better days and Gynnsthetonic

Nick

Administrator
  • Oct 18, 2022
  • #3,869
ovduk78 said:
How can Vaughan blame HSBC for not lending them the money when he himself knew what a financial mess they were in? How were they ever going to pay off the loan from HSBC when they were losing £175,000 per week?
Click to expand...

Yeah it's so fucking weird.
 

shepardo01

Well-Known Member
  • Oct 18, 2022
  • #3,870
The Arena is going through an "accelerated mergers process" - being overseen by the administrator!?...
What is this??

Quote from CovTel article.

""""As for the Arena, the Arena is part of a much larger complex of businesses and are different legal entities. It hosts Wasps in rugby, it hosts Coventry City in football, it hosts concerts, that will still be in use for those activities and I am sure if in the fullness of time, there is a new owner for that business because that's going through an AMA (accelerated mergers and acquisitions) process as well, which we're running, that they would want to have Wasps as a tenant. Because obviously it's important to have the tenant for the income and I am sure that is where they would look to play.""
 
B

Brighton Sky Blue

Well-Known Member
  • Oct 18, 2022
  • #3,871
clint van damme said:
Or for some of us, until we die.
Click to expand...

Hopefully not. But if a Mike Ashley type doesn't go for it now I don't see her ever selling up. The club can't ever succeed while that's the case
 
Reactions: AOM and clint van damme

olderskyblue

Well-Known Member
  • Oct 18, 2022
  • #3,872
Skyblueweeman said:
I have to be fair but just don't recall his apparent eloquence.
Click to expand...
You won’t remember his expensive cars either then?
 

Mcbean

Well-Known Member
  • Oct 18, 2022
  • #3,873
Fb wasps fans in meltdown on city fan reaction - wtf - tossers just ignorant of what effect wasps have had on the Sky Blues since the invasion
 
Reactions: bezzer, SBQuin, RegTheDonk and 1 other person

AOM

Well-Known Member
  • Oct 18, 2022
  • #3,874
Nick said:
Yeah it's so fucking weird.
Click to expand...

Seems to be working though with quite a few Wasps fans.
Eastwood and Vaughan are completely blameless in their eyes and it's everyone else's fault
 

shmmeee

Well-Known Member
  • Oct 18, 2022
  • #3,875
shepardo01 said:
The Arena is going through an "accelerated mergers process" - being overseen by the administrator!?...
What is this??

Quote from CovTel article.

""""As for the Arena, the Arena is part of a much larger complex of businesses and are different legal entities. It hosts Wasps in rugby, it hosts Coventry City in football, it hosts concerts, that will still be in use for those activities and I am sure if in the fullness of time, there is a new owner for that business because that's going through an AMA (accelerated mergers and acquisitions) process as well, which we're running, that they would want to have Wasps as a tenant. Because obviously it's important to have the tenant for the income and I am sure that is where they would look to play.""
Click to expand...

“If”

Edit: wait. No.
 

Nick

Administrator
  • Oct 18, 2022
  • #3,876

Agenda for Council on Tuesday, 18th October, 2022, 2.00 pm - Coventry City Council

Committees and meetings at Coventry City Council
edemocracy.coventry.gov.uk

Nothing in the agenda for the council meeting but good to see Maton is still OK.
 
Reactions: duffer

Nick

Administrator
  • Oct 18, 2022
  • #3,877
Ridley

"If there is any attempt to avoid talking about the Arena we will call an EGM?"

Whatever that means.

Maton makes a shit joke.
 
Reactions: olderskyblue

jordan210

Well-Known Member
  • Oct 18, 2022
  • #3,878
Nick said:

Agenda for Council on Tuesday, 18th October, 2022, 2.00 pm - Coventry City Council

Committees and meetings at Coventry City Council
edemocracy.coventry.gov.uk

Nothing in the agenda for the council meeting but good to see Maton is still OK.
Click to expand...

former Lego head now man bun said item 13 questions is when it will be
 

chiefdave

Well-Known Member
  • Oct 18, 2022
  • #3,879
ovduk78 said:
How can Vaughan blame HSBC for not lending them the money when he himself knew what a financial mess they were in? How were they ever going to pay off the loan from HSBC when they were losing £175,000 per week?
Click to expand...
Seen Wasps fans saying they're closing their HSBC accounts because they didn't loan them the money
 
Reactions: skybluepm2, SkyBlueSam01, Sky Blue Pete and 10 others

shmmeee

Well-Known Member
  • Oct 18, 2022
  • #3,880
Nick said:
Ridley

"If there is any attempt to avoid talking about the Arena we will call an EGM?"

Whatever that means.

Maton makes a shit joke.
Click to expand...

Im guessing it’s not an agenda item so could run out of time (or time could be run out for the cynical) so he’s saying if it’s not discussed can we have another meeting.
 

SHUNT31

Well-Known Member
  • Oct 18, 2022
  • #3,881

Wasps' administrator gives 'confident' update but makes time admission

Wasps Holdings Limited made 167 staff members redundant on Monday
www.coventrytelegraph.net

Little bit concerned by this article, not going to lie.

I don’t want them in Coventry, full stop.

Also says an accelerated merger or acquisition is under way. Does that mean it’s already been agreed to be sold? If they are hopeful of Wasps staying as tenants then they must have had dialogue with the potential new owner over the issue. That for me, rules out Ashley and McEvoy.

May even be sisu who are the party and that they have agreed to have Wasps as tenants. Can’t see it though. My gut says it’s NEC.


Sent from my iPhone using Tapatalk
 

Nick

Administrator
  • Oct 18, 2022
  • #3,882
Maton says the public and press will be excluded to hear about the private part of the agenda.

It is anticipated that the following matters will be referred as a Recommendation from Cabinet, 11 October 2022. The report is attached. The relevant Recommendation will be circulated separately
Click to expand...
 

olderskyblue

Well-Known Member
  • Oct 18, 2022
  • #3,883
Can someone explain why bond holders should get their money back? wasnt it a risk that failed, so bad luck for them?
 

jordan210

Well-Known Member
  • Oct 18, 2022
  • #3,884
SHUNT31 said:

Wasps' administrator gives 'confident' update but makes time admission

Wasps Holdings Limited made 167 staff members redundant on Monday
www.coventrytelegraph.net

Little bit concerned by this article, not going to lie.

I don’t want them in Coventry, full stop.

Also says an accelerated merger or acquisition is under way. Does that mean it’s already been agreed to be sold? If they are hopeful of Wasps staying as tenants then they must have had dialogue with the potential new owner over the issue. That for me, rules out Ashley and McEvoy.

May even be sisu who are the party and that they have agreed to have Wasps as tenants. Can’t see it though. My gut says it’s NEC.


Sent from my iPhone using Tapatalk
Click to expand...

This line is odd

The real thrust now, must be to find a preferred party. We've been talking to somebody today, and are reasonably hopeful, confident, I would say that tomorrow we will be pushing them forward and pushing them in front of the RFU to get that process going.


Why would you talk to the RFU about the arena sale ?

its almost as if who ever gave that interview is confused about what's going on
 

SHUNT31

Well-Known Member
  • Oct 18, 2022
  • #3,885
jordan210 said:
This line is odd

The real thrust now, must be to find a preferred party. We've been talking to somebody today, and are reasonably hopeful, confident, I would say that tomorrow we will be pushing them forward and pushing them in front of the RFU to get that process going.


Why would you talk to the RFU about the arena sale ?
Click to expand...

He’s not. He’s talking about Wasps Holdings, not ACL.


Sent from my iPhone using Tapatalk
 
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