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Wasps going into admin & the impact on CCFC (6 Viewers)

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

Well-Known Member
  • Oct 18, 2022
  • #3,956
Really need some subs now Robins please
 
Reactions: TwistAndShoutCCFC1987, Skyblueweeman, SBT and 3 others

Nick

Administrator
  • Oct 18, 2022
  • #3,957
AOM said:
Really need some subs now Robins please
Click to expand...

Labour need to bring a striker on.
 
Reactions: duffer and AOM

AOM

Well-Known Member
  • Oct 18, 2022
  • #3,958
Nick said:
Labour need to bring a striker on.
Click to expand...

Hope the pun was intended
 
Reactions: wingy, SBT and duffer

Nick

Administrator
  • Oct 18, 2022
  • #3,959

Madness.
 
Reactions: CCFCSteve

Nick

Administrator
  • Oct 18, 2022
  • #3,960
Onto Wasps now.
 
O

oldfiver

Well-Known Member
  • Oct 18, 2022
  • #3,961
Nick said:
Didn't people say at the time it wasn't worth £35m or whatever? Then they struggled to refinance which kind of shows it wasn't worth what they thought.
Click to expand...


WASPS paid c£15m for the lease they then revalued it to £50m+ on the back of the expected increased revenues over say 200 years

They anticipated gates of 20,000+ for their games plus add ons. Which haven't/ won't happen

There have been no significant improvements to the stadium but some £20m defects have been highlighted

£35m is not likely in a realmarket but could be to a vested interest purchaser
 

Nick

Administrator
  • Oct 18, 2022
  • #3,962
Duggins hopes a buyer can be found for ACL2006 / Arena which is a "successful business".

Is it really?
 

Nick

Administrator
  • Oct 18, 2022
  • #3,963
The council's interest is in the "multi purpose arena".
 

Nick

Administrator
  • Oct 18, 2022
  • #3,964
Ridley is up.

He's asking Duggins to quash inaccurate reports and if the council own any bonds.
Points out that ACL is a Wasps-owned company.
 
Reactions: skysblue
H

HuckerbyDublinWhelan

Well-Known Member
  • Oct 18, 2022
  • #3,965
oldfiver said:
WASPS paid c£15m for the lease they then revalued it to £50m+ on the back of the expected increased revenues over say 200 years

They anticipated gates of 20,000+ for their games plus add ons. Which haven't/ won't happen

There have been no significant improvements to the stadium but some £20m defects have been highlighted

£35m is not likely in a realmarket but could be to a vested interest purchaser
Click to expand...
20m??? what the fuck have they built it with
 
Reactions: GaryMabbuttsLeftKnee and Skyblueweeman

Nick

Administrator
  • Oct 18, 2022
  • #3,966
Hmmm, Duggins is just going on about the meeting on Friday. Even though other Labour MPs referenced the said meeting.

He isn't answering anything.
 

Nick

Administrator
  • Oct 18, 2022
  • #3,967
Duggins completely ignores the bit about ACL being owned by Wasps.

I have a feeling they are going for the wordplay on companies.
 
Reactions: fernandopartridge
O

oldfiver

Well-Known Member
  • Oct 18, 2022
  • #3,968
Nick said:
Duggins hopes a buyer can be found for ACL2006 / Arena which is a "successful business".

Is it really?
Click to expand...

So why no accounts?
 
Reactions: skybluetony176 and duffer

olderskyblue

Well-Known Member
  • Oct 18, 2022
  • #3,969
Decisions in secret are against the constitution…… Duggins has as poor a memory as me..
 
Reactions: Nick

fernandopartridge

Well-Known Member
  • Oct 18, 2022
  • #3,970
oldfiver said:
WASPS paid c£15m for the lease they then revalued it to £50m+ on the back of the expected increased revenues over say 200 years

They anticipated gates of 20,000+ for their games plus add ons. Which haven't/ won't happen

There have been no significant improvements to the stadium but some £20m defects have been highlighted

£35m is not likely in a realmarket but could be to a vested interest purchaser
Click to expand...

So the valuation was based on revenues beyond the stadium's useful life even if somehow 20k paying customers was viable? You can see why CCC don't want it to fail, they are absolutely up to their neck in this as much as Wasps
 
Reactions: stupot07 and duffer

olderskyblue

Well-Known Member
  • Oct 18, 2022
  • #3,971
“Thank you to cllr whatshisname”
 

Nick

Administrator
  • Oct 18, 2022
  • #3,972
Just in case duggins is going for word play when they say they won't help wasps...

He ignored Ridley asking about it being ACL.
 

Nick

Administrator
  • Oct 18, 2022
  • #3,973
P Akhtar "we have ricoh station but no bloody station"
 
Reactions: ccfcrob

skybluetony176

Well-Known Member
  • Oct 18, 2022
  • #3,974
The only input the council should have in ACL, financial or other, is to ensure the business keeps running so CCFC can fulfill its fixtures in its home city.
 

ccfcrob

Well-Known Member
  • Oct 18, 2022
  • #3,975
CCFCSteve said:
They streaming it on ifollow ?
Click to expand...
It's on the Red Button
 

shmmeee

Well-Known Member
  • Oct 18, 2022
  • #3,976
Enjoying Cllr Aktar and his mad uncle energy
 
Reactions: TwistAndShoutCCFC1987, rexo87, ccfcrob and 2 others

shmmeee

Well-Known Member
  • Oct 18, 2022
  • #3,977
Nick said:
Duggins hopes a buyer can be found for ACL2006 / Arena which is a "successful business".

Is it really?
Click to expand...

If you’re trying to sell a business, probably best not to say it’s shite TBF
 

Nick

Administrator
  • Oct 18, 2022
  • #3,978
shmmeee said:
Enjoying Cllr Aktar and his mad uncle energy
Click to expand...

Yeah, absolutely full of shit though and unable to answer a yes / no question.
 
Reactions: ccfcrob

Nick

Administrator
  • Oct 18, 2022
  • #3,979
shmmeee said:
If you’re trying to sell a business, probably best not to say it’s shite TBF
Click to expand...

What's Duggins selling?

Unless he's selling a bailout for it like they just were with Tom White where they didn't actually say anything.
 
D

Deleted member 5849

Guest
  • Oct 18, 2022
  • #3,980
Nick said:
What's Duggins selling?

Unless he's selling a bailout for it like they just were with Tom White where they didn't actually say anything.
Click to expand...
It's fair to say a successful arena does benefit the city though. Hold fire, remember the game's 90 minutes, and they've only just kicked off.
 

shmmeee

Well-Known Member
  • Oct 18, 2022
  • #3,981
Nick said:
Yeah, absolutely full of shit though and unable to answer a yes / no question.
Click to expand...

TBF he’s said repeatedly that he’s taken up complaints and there’s nothing he can do.

Nick said:
What's Duggins selling?

Unless he's selling a bailout for it like they just were with Tom White where they didn't actually say anything.
Click to expand...

Well ultimately as the freeholder he’s selling the leasehold to whoever takes it over.
 

Nick

Administrator
  • Oct 18, 2022
  • #3,982
Deleted member 5849 said:
It's fair to say a successful arena does benefit the city though. Hold fire, remember the game's 90 minutes, and they've only just kicked off.
Click to expand...

Yeah but that's like saying the council should fund CCFC because a club in the champions league would be good for the city....

It's not in the champions league now.
 

Nick

Administrator
  • Oct 18, 2022
  • #3,983
shmmeee said:
TBF he’s said repeatedly that he’s taken up complaints and there’s nothing he can do.

Well ultimately as the freeholder he’s selling the leasehold to whoever takes it over.
Click to expand...

Currently ACL2006 own the lease, then the Administrator will and will also have to deal with bondholders.
 

shmmeee

Well-Known Member
  • Oct 18, 2022
  • #3,984
Nick said:
Yeah but that's like saying the council should fund CCFC because a club in the champions league would be good for the city....

It's not in the champions league now.
Click to expand...

No, it’s like saying the council shouldn’t say CCFC are a bit shit really. The council has an interest in ACL doing well, so would obviously talk it up as I’d expect them to literally any Coventry business.
 

shmmeee

Well-Known Member
  • Oct 18, 2022
  • #3,985
Nick said:
Currently ACL2006 own the lease, then the Administrator will and will also have to deal with bondholders.
Click to expand...

Ill make this simple: If no one buys the arena, it’s bad news for the council as the freeholder.
 

Nick

Administrator
  • Oct 18, 2022
  • #3,986
shmmeee said:
No, it’s like saying the council shouldn’t say CCFC are a bit shit really. The council has an interest in ACL doing well, so would obviously talk it up as I’d expect them to literally any Coventry business.
Click to expand...
Talk it up or straight up lie?
 

Nick

Administrator
  • Oct 18, 2022
  • #3,987
shmmeee said:
Ill make this simple: If no one buys the arena, it’s bad news for the council as the freeholder.
Click to expand...
Yes but at the minute, its not the council's to sell. They let 35m be secured on it.

They can't just say who wants to buy it next.
 

ccfcrob

Well-Known Member
  • Oct 18, 2022
  • #3,988
shmmeee said:
Enjoying Cllr Aktar and his mad uncle energy
Click to expand...

He his having a great day out and appears just happy to be there.
 
Reactions: duffer

shmmeee

Well-Known Member
  • Oct 18, 2022
  • #3,989
Nick said:
Talk it up or straight up lie?
Click to expand...

Honestly mate, pick your battles. The freeholder bigging up their tenant ain’t it.
 
C

CCFCSteve

Well-Known Member
  • Oct 18, 2022
  • #3,990
Ridley’s back !
 
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