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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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rexo87

Well-Known Member
  • Oct 25, 2022
  • #4,936
Council need to do everything they can to ensure we can play for the next 2 weeks. Then there's 4 weeks for a buyer and logistics to be sorted before our next home game

Sent from my SM-G991B using Tapatalk
 
Reactions: torchomatic, clint van damme and duffer

jordan210

Well-Known Member
  • Oct 25, 2022
  • #4,937
I cant remember where I saw it but I had seen the figure was around 7 million for repairs. again could have just been a random figure.
 

duffer

Well-Known Member
  • Oct 25, 2022
  • #4,938
jordan210 said:
I cant remember where I saw it but I had seen the figure was around 7 million for repairs. again could have just been a random figure.
Click to expand...

Again, not saying you're wrong mate, but I'd love to know where this started. I'll have to do some googling later!
 
H

HuckerbyDublinWhelan

Well-Known Member
  • Oct 25, 2022
  • #4,939
duffer said:
Again, not saying you're wrong mate, but I'd love to know where this started. I'll have to do some googling later!
Click to expand...
I’m sure the figure was mentioned in the council meeting last week
 

duffer

Well-Known Member
  • Oct 25, 2022
  • #4,940
HuckerbyDublinWhelan said:
I’m sure the figure was mentioned in the council meeting last week
Click to expand...

Again, happy to be corrected and not trying to start a row, but I listened to that meeting, and I don't recall Duggins or Ridley saying anything about it. That is the meeting where Ridley was asking questions about Wasps and bailouts at least. Was there another meeting?
 
B

Brighton Sky Blue

Well-Known Member
  • Oct 25, 2022
  • #4,941
Nick said:
I still think Richardson will have some sort of play.
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All the players seem to now be waiting for Friday and liquidation. Expect a lot more activity then but it would put Saturday's fixture in serious danger
 

DazzleTommyDazzle

Well-Known Member
  • Oct 25, 2022
  • #4,942
Brighton Sky Blue said:
All the players seem to now be waiting for Friday and liquidation. Expect a lot more activity then but it would put Saturday's fixture in serious danger
Click to expand...

Friday is administration rather than liquidation isn't it?

An administrator will want to keep the business running unless it's a complete no hoper.
 
Reactions: duffer, CCFCSteve, Skyblueweeman and 1 other person

Flying Fokker

Well-Known Member
  • Oct 25, 2022
  • #4,943
Is Simon Gilbert a bond holder?
 
B

Brighton Sky Blue

Well-Known Member
  • Oct 25, 2022
  • #4,944
DazzleTommyDazzle said:
Friday is administration rather than liquidation isn't it?

An administrator will want to keep the business running unless it's a complete no hoper.
Click to expand...

Apologies, meant administration. Though the effect is the same-that is when all who are interested will make their move.
 

Nick

Administrator
  • Oct 25, 2022
  • #4,945
Haven't the council got the chance to call the lease back as soon as it goes into admin?
 

Skyblueweeman

Well-Known Member
  • Oct 25, 2022
  • #4,946
duffer said:
Yep, top of my head you'd perhaps want a CIC (Community Interest Company) set-up so any assets purchased are "locked-in" and an escrow account to protect deposits.

You can tell I've been thinking about it...
Click to expand...

So hang on here mate...you want a number of us, let's call ourselves 'bondholders' for shits and gigs, to put forward money to finance a stadium purchase, as a collective?

What could go wrong?! ;-)

FWIW, I'm in but seeing how it was ballsed up by the insects, I'm be sceptical.
 
Reactions: torchomatic and robbiethemole

DazzleTommyDazzle

Well-Known Member
  • Oct 25, 2022
  • #4,947
Brighton Sky Blue said:
Apologies, meant administration. Though the effect is the same-that is when all who are interested will make their move.
Click to expand...

That looks to be true.

It will take some time though.

I wouldn't expect any of the pre-World Cup games to be in danger (famous last words!).
 
S

steve cooper

Well-Known Member
  • Oct 25, 2022
  • #4,948
This is ACL's first notification period isn't it? I assume that means they can extend for 10 days if they can demonstrate that there is some interest.
 
R

rexo87

Well-Known Member
  • Oct 25, 2022
  • #4,949
steve cooper said:
This is ACL's first notification period isn't it? I assume that means they can extend for 10 days if they can demonstrate that there is some interest.
Click to expand...
Its their second I believe. Admin is friday

Sent from my SM-G991B using Tapatalk
 
Reactions: wingy

olderskyblue

Well-Known Member
  • Oct 25, 2022
  • #4,950
Is it possible CBS could make a bid?
 
S

steve cooper

Well-Known Member
  • Oct 25, 2022
  • #4,951
rexo87 said:
Its their second I believe. Admin is friday

Sent from my SM-G991B using Tapatalk
Click to expand...
Ok, I've obviously lost the plot
 
B

Brighton Sky Blue

Well-Known Member
  • Oct 25, 2022
  • #4,952
DazzleTommyDazzle said:
That looks to be true.

It will take some time though.

I wouldn't expect any of the pre-World Cup games to be in danger (famous last words!).
Click to expand...

The council gave us assurances that tonight would be on, and it is. They also have said they can't give those assurances for Saturday if administration happens, which it looks like it will. Personally I'd be more than a bit concerned.
 
R

rexo87

Well-Known Member
  • Oct 25, 2022
  • #4,953
Brighton Sky Blue said:
The council gave us assurances that tonight would be on, and it is. They also have said they can't give those assurances for Saturday if administration happens, which it looks like it will. Personally I'd be more than a bit concerned.
Click to expand...
Where have they said they can't give assurances?

Sent from my SM-G991B using Tapatalk
 

Grendel

Well-Known Member
  • Oct 25, 2022
  • #4,954
Nick said:
Haven't the council got the chance to call the lease back as soon as it goes into admin?
Click to expand...

They won't want to I suspect and would rather it goes.
 
B

Brighton Sky Blue

Well-Known Member
  • Oct 25, 2022
  • #4,955
rexo87 said:
Where have they said they can't give assurances?

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

 

Terry Gibson's perm

Well-Known Member
  • Oct 25, 2022
  • #4,956
The administrator will surely want the game to go ahead Saturday to keep some cash flow in the business.
 

Terry Gibson's perm

Well-Known Member
  • Oct 25, 2022
  • #4,957
The administrator will surely want the game to go ahead Saturday to keep some cash flow in the business.
 
B

Brighton Sky Blue

Well-Known Member
  • Oct 25, 2022
  • #4,958
Terry Gibson's perm said:
The administrator will surely want the game to go ahead Saturday to keep some cash flow in the business.
Click to expand...

The question is staffing
 

DazzleTommyDazzle

Well-Known Member
  • Oct 25, 2022
  • #4,959
Brighton Sky Blue said:
The council gave us assurances that tonight would be on, and it is. They also have said they can't give those assurances for Saturday if administration happens, which it looks like it will. Personally I'd be more than a bit concerned.
Click to expand...

I guess they'd say that because it would be in the administrator's hands, so not under their control.

It would be unusual for an administrator to walk into a business that has a reasonable chance of being sold and then move straight to liquidation.

Anyway, time will tell.
 
Reactions: torchomatic, Deleted member 5849 and duffer

shepardo01

Well-Known Member
  • Oct 25, 2022
  • #4,960
Flying Fokker said:
Is Simon Gilbert a bond holder?
Click to expand...
That question should be asked of CCC!!!
 
Reactions: Tile Hill Phil and Gynnsthetonic

Grendel

Well-Known Member
  • Oct 25, 2022
  • #4,961
Terry Gibson's perm said:
The administrator will surely want the game to go ahead Saturday to keep some cash flow in the business.
Click to expand...

What cash will be generated?
 

Nick

Administrator
  • Oct 25, 2022
  • #4,962
shepardo01 said:
That question should be asked of CCC!!!
Click to expand...

Duggins says they don't own any "as far as he knows"
 
Reactions: shepardo01 and Gynnsthetonic
B

Brighton Sky Blue

Well-Known Member
  • Oct 25, 2022
  • #4,963
DazzleTommyDazzle said:
I guess they'd say that because it would be in the administrator's hands, so not under their control.

It would be unusual for an administrator to walk into a business that has a reasonable chance of being sold and then move straight to liquidation.

Anyway, time will tell.
Click to expand...

Indeed. But if the administrator has no money available, he surely can't run the stadium on a matchday.
 

Liquid Gold

Well-Known Member
  • Oct 25, 2022
  • #4,964
Brighton Sky Blue said:
The question is staffing
Click to expand...
What staff do ACL provide?

I heard the stewarding has already transferred to the club, the catering is provided by the vendors, the club pays for policing.

If it's just someone to unlock the stadium I'm sure it'll be fine.
 

Flying Fokker

Well-Known Member
  • Oct 25, 2022
  • #4,965
Brighton Sky Blue said:
Indeed. But if the administrator has no money available, he surely can't run the stadium on a matchday.
Click to expand...
Ouch… that was a low punch
 
W

wingy

Well-Known Member
  • Oct 25, 2022
  • #4,966
Didn't the administrator for Derby keep it running on the basis of the eventual owner's picking it up from the overall deal?
 
O

oldfiver

Well-Known Member
  • Oct 25, 2022
  • #4,967
duffer said:
Yep, top of my head you'd perhaps want a CIC (Community Interest Company) set-up so any assets purchased are "locked-in" and an escrow account to protect deposits.

You can tell I've been thinking about it...
Click to expand...


Interesting Holmes- but needs more than a 7% solution !
 
O

oldfiver

Well-Known Member
  • Oct 25, 2022
  • #4,968
Flying Fokker said:
Ouch… that was a low punch ☹
Click to expand...

CCFC and other tenants rents?
 
C

Ccfcsj

Well-Known Member
  • Oct 25, 2022
  • #4,969
wingy said:
Didn't the administrator for Derby keep it running on the basis of the eventual owner's picking it up from the overall deal?
Click to expand...
I thought that Derby County FC went in to administration but the football ground was owned separately by Mel Morris. I assume the Administrator paid the rent and claimed it back through the sale of the club
 

Nick

Administrator
  • Oct 25, 2022
  • #4,970
oldfiver said:
CCFC and other tenants rents?
Click to expand...

You would think the Casino and bar would want the game to go ahead as well. Not sure if it's ACL who directly run the Anecdote or what.
 
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