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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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duffer

Well-Known Member
  • Sep 22, 2022
  • #386
Sky Blue Harry H said:
Incontinent (titter !)

Is that because they are all bedwetters?
Click to expand...

And because they're leaking money like there's no tomorrow. Tena pads ain't going to cover it...
 
Reactions: robbiethemole and Sky Blue Harry H
D

Deleted member 5849

Guest
  • Sep 22, 2022
  • #387
Sky Blue Harry H said:
But surely the lease is between Wasps and CCC
The rent agreement would be separate (or is this a lease agreement too? If it is, and is between us and Wasps, and they go belly up, surely it is affected?)
Click to expand...
Why would you want to renegotiate it? It might go up!
 
Reactions: torchomatic and fernandopartridge

fernandopartridge

Well-Known Member
  • Sep 22, 2022
  • #388
Sky Blue Harry H said:
But surely the lease is between Wasps and CCC
The rent agreement would be separate (or is this a lease agreement too? If it is, and is between us and Wasps, and they go belly up, surely it is affected?)
Click to expand...

No, the sub-lease is between the sub-lessor and the sub-lessee, who they actually are is coincidental. How could somebody agree to buy all of Wasps' assets / liabilities take on a sub-lease where the terms are for negotiation after the purchase? Would anybody entering into a lease for any property sign up to allow for renegotiation in such an event? Especially where a new landlord might be in a more advantageous position than Wasps.
 
Reactions: oldskyblue58 and Sky Blue Harry H

clint van damme

Well-Known Member
  • Sep 22, 2022
  • #389
HuckerbyDublinWhelan said:
So do we hate Gilbert again?
Click to expand...

Never hated him, just thought he was a massive pillock, still do.
 
Reactions: skybluepm2, torchomatic and Briles

Nick

Administrator
  • Sep 22, 2022
  • #390


"Shall we be journalists and look into Wasps?"
"Nah, just make some headlines up to worry city fans about it"

(His concern is Doyle getting injured playing for England)
 
Reactions: skybluepm2, no_loyalty, glasgowfan and 4 others

Sky Blue Harry H

Well-Known Member
  • Sep 22, 2022
  • #391
Deleted member 5849 said:
Why would you want to renegotiate it? It might go up!
Click to expand...

I had been thinking more of ensuring we weren't out of pocket re: pitch repairs.
 

Briles

Well-Known Member
  • Sep 22, 2022
  • #392
Nick said:


"Shall we be journalists and look into Wasps?"
"Nah, just make some headlines up to worry city fans about it"

(His concern is Doyle getting injured playing for England)
Click to expand...

Clickbaiit wankers the mirror group are.
 
Reactions: skybluepm2
W

wingy

Well-Known Member
  • Sep 22, 2022
  • #393
Seems extraordinarily convenient that HMRC has basically concluded it's course of action a couple of weeks after initial release in state of play just when bondholders finally decide to accelerate to a conclusion.
Wonder if that valuation of asset's ever gets completed now?
 

Grendel

Well-Known Member
  • Sep 22, 2022
  • #394
Sky Blue Harry H said:
I had been thinking more of ensuring we weren't out of pocket re: pitch repairs.
Click to expand...

Well we would be and there is no agreement in all probability on pitch maintenance
 
S

SheafIsGod

Well-Known Member
  • Sep 22, 2022
  • #395
duffer said:
You're having a laugh, surely?

Do you remember us playing in Birmingham? Do you remember Wasps promising to play on Sundays so as to not impact CRFC? Do you remember the Council talking about rebuilding trust with the club before discussing ownership of the stadium?

You are Kevin Maton and I claim my five pounds.
Click to expand...
I also remember us playing in Northampton - was that the Wasps as well?

Coventry Rugby’s attendances have risen on average since Wasps moved here.

Your last point is about the council, not Wasps.

Can someone please explain why, as a CCFC fan, I’m supposed to hate the Wasps?
 
Reactions: Evo1883

duffer

Well-Known Member
  • Sep 22, 2022
  • #396
wingy said:
Seems extraordinarily convenient that HMRC has basically concluded it's course of action a couple of weeks after initial release in state of play just when bondholders finally decide to accelerate to a conclusion.
Wonder if that valuation of asset's ever gets completed now?
Click to expand...

I suspect it's more to do with HMRC policy on how long they'll wait for payment before taking action.

I don't think it's a coincidence that Wasps and Worcester are both under threat from HMRC, I'd guess they've got similar filing dates for tax purposes...
 
Reactions: Colin Steins Smile and oldskyblue58

jordan210

Well-Known Member
  • Sep 22, 2022
  • #397
This morning's player and staff meeting
So, as we know, Wasps players and staff were called to a 9am meeting this morning to discuss the club's situation.

We understand this lasted around 20 minutes and people were told the club was in advanced talks and things will move fast with the next step - with the overall tone being a 'hopeful' one. But there is a waiting game to be played.

There was a feeling relayed that HMRC's issuing of a winding-up order came as a surprise.


Yeah must be a big surprise. Its not like wasps dint file accounts or pay the a HMRC bill.....
 
Reactions: robbiethemole, torchomatic and duffer

fernandopartridge

Well-Known Member
  • Sep 22, 2022
  • #398
ACL (2006) has not filed for administration has it?
 

duffer

Well-Known Member
  • Sep 22, 2022
  • #399
SheafIsGod said:
I also remember us playing in Northampton - was that the Wasps as well?

Coventry Rugby’s attendances have risen on average since Wasps moved here.

Your last point is about the council, not Wasps.

Can someone please explain why, as a CCFC fan, I’m supposed to hate the Wasps?
Click to expand...

Coventry RFC were on an upward course before Wasps got here. Attendances increased despite them not because of them. Again the promise to play on Sundays not Saturdays, Premiership versus Championship rugby literally on your doorstep. C'mon.

The council and Wasps did a secret deal to sell our stadium. Who buys if Wasps didn't screw their own fans over to get a knock down deal? So obviously not just the council at fault.

Birmingham. You remember Birmingham. Fuck all to do with Northampton. Wasps.

I get you don't care mate, maybe joining the dots is too much effort, but some of us do.

If you're not bothered feel free to ignore them, but don't kid yourself that there aren't plenty of good reasons.
 
Reactions: SBQuin, OldBedrocker, Skyblueweeman and 12 others

jordan210

Well-Known Member
  • Sep 22, 2022
  • #400
fernandopartridge said:
ACL (2006) has not filed for administration has it?
Click to expand...

Doesn't look like it. Just Arena Coventry Limited and Wasps Holdings Limited
 

Nick

Administrator
  • Sep 22, 2022
  • #401
fernandopartridge said:
ACL (2006) has not filed for administration has it?
Click to expand...

Doesn't look like it, although Richardson appointed a director last month?

There's also the Compass charge outstanding on ACL 2006?
 

torchomatic

Well-Known Member
  • Sep 22, 2022
  • #402
clint van damme said:
Never hated him, just thought he was a massive pillock, still do.
Click to expand...

Particularly with that ridiculous pony tail or whatever it is.
 
Reactions: Adge, skybluepm2 and clint van damme
W

wingy

Well-Known Member
  • Sep 22, 2022
  • #403
crowsnest said:
Arena coventry aswell.
Click to expand...
According to this fp.
 

Gynnsthetonic

Well-Known Member
  • Sep 22, 2022
  • #404
Nick said:
Doesn't look like it, although Richardson appointed a director last month?

There's also the Compass charge outstanding on ACL 2006?
Click to expand...
What's the reason for Richardson reappointing himself I wonder?
 

Frostie

Well-Known Member
  • Sep 22, 2022
  • #405
clint van damme said:
Never hated him, just thought he was a massive pillock, still do.
Click to expand...

Had a very noticeable change of tack since leaving the Telegraph & is much the better for it.
 
Reactions: Skybluemichael and AOM
S

SheafIsGod

Well-Known Member
  • Sep 22, 2022
  • #406
duffer said:
Coventry RFC were on an upward course before Wasps got here. Attendances increased despite them not because of them. Again the promise to play on Sundays not Saturdays, Premiership versus Championship rugby literally on your doorstep. C'mon.

The council and Wasps did a secret deal to sell our stadium. Who buys if Wasps didn't screw their own fans over to get a knock down deal? So obviously not just the council at fault.

Birmingham. You remember Birmingham. Fuck all to do with Northampton. Wasps.

I get you don't care mate, maybe joining the dots is too much effort, but some of us do.

If you're not bothered feel free to ignore them, but don't kid yourself that there aren't plenty of good reasons.
Click to expand...

I bet our owners and the council (which should be where our real grievances lie) are pissing themselves laughing at how the vast majority of City fans seem to follow your line of thought.
 

fernandopartridge

Well-Known Member
  • Sep 22, 2022
  • #407
wingy said:
According to this fp.
Click to expand...

ACL is ACL (2006) parent company. ACL (2006) is the head lease holder and that's its only function I think. ACL (assumed) pays ACL 2006 £1.9m per year. The assets of ACL (2006) are subject to the charge by the Trustees mind
 

Nick

Administrator
  • Sep 22, 2022
  • #408
fernandopartridge said:
ACL is ACL (2006) parent company. ACL (2006) is the head lease holder and that's its only function I think. ACL (assumed) pays ACL 2006 £1.9m per year. The assets of ACL (2006) are subject to the charge by the Trustees mind
Click to expand...

There's also the Compass one.

 
S

Sky Blue Lind

Member
  • Sep 22, 2022
  • #409
Nick said:
There's also the Compass one.

Click to expand...
 
S

Sky Blue Lind

Member
  • Sep 22, 2022
  • #410
Has anyone tweeted the mayor to see what his thoughts are . He seemed to be very vocal about who should pay for the pitch
 

Terry Gibson's perm

Well-Known Member
  • Sep 22, 2022
  • #411
Good news Maton is alive he has retweeted something today maybe the W is broken on his phone
 
Reactions: duffer and Saddlebrains

duffer

Well-Known Member
  • Sep 22, 2022
  • #412
SheafIsGod said:
I bet our owners and the council (which should be where our real grievances lie) are pissing themselves laughing at how the vast majority of City fans seem to follow your line of thought.
Click to expand...

It's entirely possible to dislike all of the parties involved of course. Indeed I suspect most who really take an interest, do.

Wasps no doubt similarly love the idea that some might see them as entirely blameless, I just don't think the evidence stacks up to support that theory.
 

shmmeee

Well-Known Member
  • Sep 22, 2022
  • #413
Hurry back football
 
Reactions: mmttww and AOM

duffer

Well-Known Member
  • Sep 22, 2022
  • #414
Sorry for the double post. Curse these fat fingers....

 
H

HuckerbyDublinWhelan

Well-Known Member
  • Sep 22, 2022
  • #415
SheafIsGod said:
I bet our owners and the council (which should be where our real grievances lie) are pissing themselves laughing at how the vast majority of City fans seem to follow your line of thought.
Click to expand...
It’s quite easy to apportion blame to the lot
1) Council - extortionate rent, only would entertain SISU in 2007, didn’t want to sell us the Ricoh initially. Tried to get one over SISU by shafting the club

2) SISU burnt every bridge, took us to Northampton stupidly. Lack the nous or bollocks to improve the club, don’t seemingly want to sell

3) Wasps - got involved in a dispute they had no right being in, tried to secretly shaft the club whilst blaming the owners. Thought they’d got a cheap stadium and are hell bent on using our profile to get money

ultimately the council shafted us and sold Wasps a turd. They’re possibly complicit in the destruction of 2 historic sports clubs.

wasps as said, tried to take advantage of a situation they had no idea about. Much like the outside fans looking in. I have no sympathy - thet deserve everything they get.

SISUs time is up, they don’t have the funds, and have no idea how to run a championship football club.They need to sell up.

basically If Wasps destruction leads to SISU leaving and us reuniting with the stadium built for us, then so be it. They’ll be thinking the same
 
Reactions: SBQuin, skybluepm2, Terry_dactyl and 9 others
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oldfiver

Well-Known Member
  • Sep 22, 2022
  • #416
oldskyblue58 said:
clock is running to get this sorted


  • By the directors or company: once the directors sign the notice of intention to appoint an administrator, they have 10 days of protection, when no creditor can take any recovery action. This occurs before they are actually in administration, so can be very useful, and can give the business and directors time to decide the way forward.
Click to expand...
It is possible to get an extension to the 10 days if evidence shows funds are immediately forthcoming after the

Have HMRC actually petitioned? If not why would WASPs publicise it? This is an active decision not wholly linked to HMRC
 
O

oldfiver

Well-Known Member
  • Sep 22, 2022
  • #417
Grendel said:
ours is a sub lease not rent
Click to expand...

You can pay rent under a sub lease

Also the headlease is CCC to ACL
I think it has been mentioned WASPs Holdings has a lease with ACL .
 

Philosoraptor

Well-Known Member
  • Sep 22, 2022
  • #418
oldfiver said:
It is possible to get an extension to the 10 days if evidence shows funds are immediately forthcoming after the

Have HMRC actually petitioned? If not why would WASPs publicise it? This is an active decision not wholly linked to HMRC
Click to expand...

Think the London rugby club was forced to take action before HMRC took action to keep themselves in business.
 

Philosoraptor

Well-Known Member
  • Sep 22, 2022
  • #419
To keep on adding extensions to the NOI without appointing administrators is going to be the tricky thing.

Without good cause it can just be looked on as a delaying tactic by the courts.
 
W

wingy

Well-Known Member
  • Sep 22, 2022
  • #420
Philosorapter said:
Think the London rugby club was forced to take action before HMRC took action to keep themselves in business.
Click to expand...
Conveniently trying to stifle actions of the bondholders.
 
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