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Wasps going into admin & the impact on CCFC (2 Viewers)

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

Well-Known Member
  • Oct 23, 2022
  • #4,691
shmmeee said:
Electricity bills, security, paying wages of ACL staff. That’s the gap that needs bridging this week and next. So that’s my question: if funding is needed (which common sense and talk of both council and bidders potentially stumping up would suggest) who is paying it?

If no funding is needed immediately, what the he’ll was Gilbert’s big scoop all about?
Click to expand...

It’s not relevant really - insolvent businesses can trade until they run out of cash - shouldn’t but can so as long as the business has cash it can function.

It’s going to admin Friday unless some pre pack has been done which seems at present not done
 

shmmeee

Well-Known Member
  • Oct 23, 2022
  • #4,692
oldfiver said:
Remember the reference was to WASPs to begin with , ie WH
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The line from Gilbert and Ridley was that that was wordplay and it was about ACL.

Just trying to work out if it means a bidder is already in play, but it sounds like not.
 
Reactions: Sky Blue Pete
W

wingy

Well-Known Member
  • Oct 23, 2022
  • #4,693
Gynnsthetonic said:
We want a buyer who wants to own the football club and stadium. Gilbert quotes today that the Mike Ashley's interest has cooled
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Where is that exactly Gtt.
 

shmmeee

Well-Known Member
  • Oct 23, 2022
  • #4,694
Gynnsthetonic said:
Council desperately needs the whole thing to not go tits up, but nobody will want to take on ACL with all the debt attached. Which will be why a lot of interested parties are probably holding fire until Friday
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Why would they not want things to go tits up, thought they wanted rid of it, there must be something in place where the the pitch and stands have to stay and the ground cannot be converted to a warehouse or anything
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If the history of this stuff has taught me anything it’s that unless when questioned a relevant party says “yes we have an enforceable legal agreement regarding that” they don’t. See also “Wasps can’t kick out CCFC” and “We have got guarantees on the pitch”.

Duggins answer last week didn’t make me think there’s anything to stop them knocking the thing down and building a warehouse if they wanted (planning aside).
 
O

oldfiver

Well-Known Member
  • Oct 23, 2022
  • #4,695
Gynnsthetonic said:

Senior Wasps figures buy proposed housing land near training base

Wasps owner Derek Richardson and group chief executive David Armstrong are directors of a firm that has bought land next to the Alan Higgs Centre
www.coventrytelegraph.net
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They are not property developers though!
 
Reactions: Gynnsthetonic

Gynnsthetonic

Well-Known Member
  • Oct 23, 2022
  • #4,696
wingy said:
Where is that exactly Gtt.
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Reactions: wingy
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oldfiver

Well-Known Member
  • Oct 23, 2022
  • #4,697
shmmeee said:
The line from Gilbert and Ridley was that that was wordplay and it was about ACL.

Just trying to work out if it means a bidder is already in play, but it sounds like not.
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Reeves to Duggins - sort this out!
 

Sky Blue Pete

Well-Known Member
  • Oct 23, 2022
  • #4,698
oldfiver said:
Reeves to Duggins - sort this out!
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Mmmm
 
R

robbiethemole

Well-Known Member
  • Oct 23, 2022
  • #4,699
oldfiver said:
Reeves to Duggins - sort this out!
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I wouldn't trust the twat to sort letters
 

shmmeee

Well-Known Member
  • Oct 23, 2022
  • #4,700
 

TomRad85

Well-Known Member
  • Oct 23, 2022
  • #4,701
shmmeee said:
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Weird we've heard nothing about SISU. Are they really just gonna sit on their hands when this is what they've seemingly been waiting for?

Sent from my SM-G973F using Tapatalk
 
Reactions: djr8369
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wingy

Well-Known Member
  • Oct 23, 2022
  • #4,702
Weren't Live nation linked early on?
 
B

Brighton Sky Blue

Well-Known Member
  • Oct 23, 2022
  • #4,703
TomRad85 said:
Weird we've heard nothing about SISU. Are they really just gonna sit on their hands when this is what they've seemingly been waiting for?

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

Wait till Friday.
 

Evo1883

Well-Known Member
  • Oct 23, 2022
  • #4,704
Gynnsthetonic said:
Who was there employer before out of interest, must of been Wasp or ACL
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I'm not entirely sure sorry
 

slowpoke

Well-Known Member
  • Oct 23, 2022
  • #4,705
wingy said:
Weren't Live nation linked early on?
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They were and it was dismissed on here as a bit far fetched but I don’t think they have gone away.
 

TomRad85

Well-Known Member
  • Oct 23, 2022
  • #4,706
Brighton Sky Blue said:
Wait till Friday.
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Yeh, still think they are upto something.

Sent from my SM-G973F using Tapatalk
 

chiefdave

Well-Known Member
  • Oct 23, 2022
  • #4,707
wingy said:
Weren't Live nation linked early on?
Click to expand...
Think that was wishful thinking and / or a false rumour leaked to drum up interest.
 

Gynnsthetonic

Well-Known Member
  • Oct 23, 2022
  • #4,708
wingy said:
Weren't Live nation linked early on?
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Forgot about them
 

Skyblue_CP

Well-Known Member
  • Oct 23, 2022
  • #4,709
I’m not getting my hopes up, in any case the main noise seems to be from events companies or Wasps with something up their sleeve. Really feel like we will just end up renting again. There doesn’t seem like there is any willingness on Joys end to sell up. Although i am surprised in all this that we haven’t had the usual “Contrary to reports the Club is not for sale, SISU are committed to the long haul” statement yet.
 
Reactions: no_loyalty

robbiekeane

Well-Known Member
  • Oct 23, 2022
  • #4,710
If SISU got there hands on the stadium instead of an events company, would we be any better off?

I feel like people have it in there heads that if SISU get the stadium then they will package the club and stadium off together to a happy buyer with deep pockets.

isn’t it more likely that they will just charge the club a hefty rent forever more?
 
Reactions: thekidfromstrettoncamp, sotvtoday, RegTheDonk and 3 others

Samo

Well-Known Member
  • Oct 23, 2022
  • #4,711
Skyblue_CP said:
I’m not getting my hopes up, in any case the main noise seems to be from events companies or Wasps with something up their sleeve. Really feel like we will just end up renting again. There doesn’t seem like there is any willingness on Joys end to sell up. Although i am surprised in all this that we haven’t had the usual “Contrary to reports the Club is not for sale, SISU are committed to the long haul” statement yet.
Click to expand...

Yup, the silence is deafening. I think they would sell and may already be in negotiations but... will they sell at a reasonable price?
 
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long way home

Well-Known Member
  • Oct 23, 2022
  • #4,712
If ACL go into in admin on Friday i would assume 2 things.They will get more than a few interested parties and names not yet mentioned will come out. And a majority interested would be looking at the club as well.

I know sisu have not been ever very talkative, but this quietness with all that has gone on is deafening. And i think that is a good thing if it is deliberately being done. Lets hope we get some good news for Christmas, don't get me wrong love 3 pts most weeks but a new owners with new aspirations would be a nice present for all.
 
Reactions: SkyBlueSam01

slowpoke

Well-Known Member
  • Oct 23, 2022
  • #4,713
TomRad85 said:
Yeh, still think they are upto something.

Sent from my SM-G973F using Tapatalk
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Who ?
 

Samo

Well-Known Member
  • Oct 23, 2022
  • #4,714
long way home said:
If ACL go into in admin on Friday i would assume 2 things.They will get more than a few interested parties and names not yet mentioned will come out. And a majority interested would be looking at the club as well.

I know sisu have not been ever very talkative, but this quietness with all that has gone on is deafening. And i think that is a good thing if it is deliberately being done. Lets hope we get some good news for Christmas, don't get me wrong love 3 pts most weeks but a new owners with new aspirations would be a nice present for all.
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If it doesn't happen, the best we have to look forward to is knocking about in the lower divisions.
 

shmmeee

Well-Known Member
  • Oct 23, 2022
  • #4,715
robbiekeane said:
If SISU got there hands on the stadium instead of an events company, would we be any better off?

I feel like people have it in there heads that if SISU get the stadium then they will package the club and stadium off together to a happy buyer with deep pockets.

isn’t it more likely that they will just charge the club a hefty rent forever more?
Click to expand...

Its hope all the way down. Guess the feeling is a sale is more likely if Sisu have the arena than say NEC.

obviously the ideal is a billionaire takes both. But it sounds like yet again for whatever reason the area has been doused in billionaire repellant spray.
 
Reactions: CCFCSteve

slowpoke

Well-Known Member
  • Oct 23, 2022
  • #4,716
chiefdave said:
Think that was wishful thinking and / or a false rumour leaked to drum up interest.
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From what I’ve been told I don’t think this John Dawkins fella has gone away.
 

oldskyblue58

CCFC Finance Director
  • Oct 23, 2022
  • #4,717
Gynnsthetonic said:
Who was there employer before out of interest, must of been Wasp or ACL
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The 2021 financials show that otium employed over 200 matchday staff in 2021 and 2020.
 
Reactions: Hiraeth and Gynnsthetonic
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long way home

Well-Known Member
  • Oct 23, 2022
  • #4,718
Samo said:
If it doesn't happen, the best we have to look forward to is knocking about in the lower divisions.
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Yep, i can see that being the case as we cant rely on bottom budgets to keep us a float in the championship. Sooner or later that model catches you out.
 
Reactions: no_loyalty

skybluetony176

Well-Known Member
  • Oct 23, 2022
  • #4,719
What debt do ACL actually have? Has it just been bought down by the Wasps group of companies debt or does it have unserviceable debt of its own?
 

zuni

Well-Known Member
  • Oct 23, 2022
  • #4,720
Gawd, if Ashley and the yank are less interested I hope it’s just a ploy as I don’t see a massive line of rich owners lining up to buy us ..could be another 10plus years of shit
 
Reactions: SkyBlueSam01

Gynnsthetonic

Well-Known Member
  • Oct 23, 2022
  • #4,721
oldskyblue58 said:
The 2021 financials show that otium employed over 200 matchday staff in 2021 and 2020.
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So we should have bar staff and stewards operating on Saturday, just need someone to open and lock up
 

Skyblue_CP

Well-Known Member
  • Oct 23, 2022
  • #4,722
long way home said:
Yep, i can see that being the case as we cant rely on bottom budgets to keep us a float in the championship. Sooner or later that model catches you out.
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100% there’s only so long we can get lucky on transfer dealings until eventually it catches you out and you get relegated. Then commence another 10 years trying to get out of L1.
 

Evo1883

Well-Known Member
  • Oct 23, 2022
  • #4,723
let's just believe its happening .. somebody is going to come in and change our future over the next couple weeks .

Otherwise , it's sisu and no change
 
Reactions: no_loyalty, wingy, Gynnsthetonic and 1 other person

Tommo1993

Well-Known Member
  • Oct 23, 2022
  • #4,724
Evo1883 said:
let's just believe its happening .. somebody is going to come in and change our future over the next couple weeks .

Otherwise , it's sisu and no change
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If I doesn’t happen, can I come down and poke you in they eye? In a fit of blind, disappointed rage?
 
Last edited: Oct 23, 2022
Reactions: Evo1883

Evo1883

Well-Known Member
  • Oct 23, 2022
  • #4,725
Tommo1993 said:
If I doesn’t happen, come I come down and poke you in they eye? In a fit of blind, disappointed rage?
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No problem mate
 
Reactions: SkyBlueSam01 and Tommo1993
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