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Wasps going into admin & the impact on CCFC (10 Viewers)

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

oldfiver

Well-Known Member
  • Oct 25, 2022
  • #5,006
slowpoke said:
Is that per match though or annually which would be about £600k which I always thought it was and sometimes there are police free games, didn’t see very many old bill in the ground v Sheffield United which I’d assume would command a good few cops compared to tonights or even Wigan Saturday.
Click to expand...

That was their match day price after Derby
duffer said:
Now that is an absolutely fair point, but then we're endlessly told that ACL is a viable business.

If it was completely clear of debt does that make the difference?
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If CCC step in to buy back stadium and include WASPs as a tenant. Then what are thoughts?
 
O

oldfiver

Well-Known Member
  • Oct 25, 2022
  • #5,007
slowpoke said:
I think if police are asked for inside the stadium WMP decide the numbers.
Click to expand...

SAG involved too!!
 

Bad Boy

Well-Known Member
  • Oct 25, 2022
  • #5,008
oldfiver said:
That was their match day price after Derby


If CCC step in to buy back stadium and include WASPs as a tenant. Then what are thoughts?
Click to expand...
No thanks, just want them gone from Coventry.
 
Reactions: SBQuin, Kneeza, Skyblueweeman and 5 others
B

Brighton Sky Blue

Well-Known Member
  • Oct 25, 2022
  • #5,009
duffer said:
Now that is an absolutely fair point, but then we're endlessly told that ACL is a viable business.

If it was completely clear of debt does that make the difference?
Click to expand...

It would make a difference, but the problem is we’d need more than enthusiastic volunteers to not eventually run into trouble.
 

slowpoke

Well-Known Member
  • Oct 25, 2022
  • #5,010
oldfiver said:
That was their match day price after Derby


If CCC step in to buy back stadium and include WASPs as a tenant. Then what are thoughts?
Click to expand...
Have you read the statements from CCC they have no intention of buying the stadium, also currently Wasps don’t exist.
 
Reactions: Sky Blue Pete

Gynnsthetonic

Well-Known Member
  • Oct 25, 2022
  • #5,011
oldfiver said:
That was their match day price after Derby


If CCC step in to buy back stadium and include WASPs as a tenant. Then what are thoughts?
Click to expand...
How will they afford it (Wasp) it doesn't pay for them to stay
 
O

oldfiver

Well-Known Member
  • Oct 25, 2022
  • #5,012
slowpoke said:
Have you read the statements from CCC they have no intention of buying the stadium, also currently Wasps don’t exist.
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I have but to quote Reeves "things change"
 
Reactions: Sky Blue Pete

duffer

Well-Known Member
  • Oct 25, 2022
  • #5,013
Brighton Sky Blue said:
It would make a difference, but the problem is we’d need more than enthusiastic volunteers to not eventually run into trouble.
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I don't think you rely on volunteers at all. If it's a viable business as claimed, then you let it run as one, if it isn't then you get someone in who can make a go of it.
 
B

Brighton Sky Blue

Well-Known Member
  • Oct 25, 2022
  • #5,014
duffer said:
I don't think you rely on volunteers at all. If it's a viable business as claimed, then you let it run as one, if it isn't then you get someone in who can make a go of it.
Click to expand...

Wasps tried that for 8 years and failed spectacularly. I’m not at all opposed to your idea by the way, but it’s an awful lot of money to commit
 
Reactions: duffer

MalcSB

Well-Known Member
  • Oct 25, 2022
  • #5,015
CCC don’t need to buy the stadium, they already own the freehold. If there are no buyers of the leasehold, they will be left with it.
 

Flying Fokker

Well-Known Member
  • Oct 25, 2022
  • #5,016
oldfiver said:
I have but to quote Reeves "things change"
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The Council,is in no position to run the stadium. They do not have the expertise or have the inclination to buy it in. Plus they have a big budget deficit.
 
O

OyJimmy

Member
  • Oct 25, 2022
  • #5,017
If anyone was looking to buy CCFC, Wasps or ACL they’d want to buy the stadium first. Without that the other two constantly face challenges. If you gained control of ACL, logically you’d see if you could get Wasps on the cheap because you’d want a tenant.

SISU won’t let Cov go on the cheap, which frankly is a major problem for us…..as we could be back to square one. Unless SISU want to be frozen out they should be looking to either acquire ACL or Wasps or swap out equity
 
Reactions: djr8369

Samo

Well-Known Member
  • Oct 25, 2022
  • #5,018
OyJimmy said:
If anyone was looking to buy CCFC, Wasps or ACL they’d want to buy the stadium first. Without that the other two constantly face challenges. If you gained control of ACL, logically you’d see if you could get Wasps on the cheap because you’d want a tenant.

SISU won’t let Cov go on the cheap, which frankly is a major problem for us…..as we could be back to square one. Unless SISU want to be frozen out they should be looking to either acquire ACL or Wasps or swap out equity
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I'd want a legally binding agreement already in place to buy CCFC from SISU at a set price before I bought the stadium.
 
Reactions: djr8369
B

Brighton Sky Blue

Well-Known Member
  • Oct 25, 2022
  • #5,019
Samo said:
I'd want a legally binding agreement already in place to buy CCFC from SISU at a set price before I bought the stadium.
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Not if they also have designs on it
 

MalcSB

Well-Known Member
  • Oct 25, 2022
  • #5,020
Flying Fokker said:
The Council,is in no position to run the stadium. They do not have the expertise or have the inclination to buy it in. Plus they have a big budget deficit.
Click to expand...
But can put millions into a waste management company.
 
Reactions: no_loyalty, Sky Blue Pete, duffer and 2 others

usskyblue

Well-Known Member
  • Oct 25, 2022
  • #5,021
@Grendel Do you reckon it’s likely that SISU ideally want the stadium not to sell, so they can ‘save the Council’ being lumbered with the it and offer a ridiculously lowarse amount?
 
Reactions: djr8369

slowpoke

Well-Known Member
  • Oct 25, 2022
  • #5,022
usskyblue said:
@Grendel Do you reckon it’s likely that SISU ideally want the stadium not to sell, so they can ‘save the Council’ being lumbered with the it and offer a ridiculously lowarse amount?
Click to expand...
No
 
R

rexo87

Well-Known Member
  • Oct 26, 2022
  • #5,023
He's a man of very few words but FWIW

Sent from my SM-G991B using Tapatalk
 
Reactions: Sky Blue Pete, djr8369, skybluepm2 and 2 others

Terry Gibson's perm

Well-Known Member
  • Oct 26, 2022
  • #5,024
Grendel said:
What cash will be generated?
Click to expand...


Do they get a cut of nothing that goes on there?
 

Philosoraptor

Well-Known Member
  • Oct 26, 2022
  • #5,025
Terry Gibson's perm said:
Do they get a cut of nothing that goes on there?
Click to expand...

Nobody is asking the important questions.

How close is the Arena to running out of a supply of Beer?
 
C

CCFC54321

Well-Known Member
  • Oct 26, 2022
  • #5,026
MalcSB said:
CCC don’t need to buy the stadium, they already own the freehold. If there are no buyers of the leasehold, they will be left with it.
Click to expand...
Said before, I don’t think there will be many takers for it.

All bluff and smoking out other parties with suggestions of Ashley and the NEC interested.

It doesn’t make enough money and there’s a repair bill around it to start with to pay out the going rate or near to it.

Can see this sale dragging on for months.
 

SBAndy

Well-Known Member
  • Oct 26, 2022
  • #5,027
Philosorapter said:
Nobody is asking the important questions.

How close is the Arena to running out of a supply of Beer?
Click to expand...

You joke but they ran out of Madri in the lounges last night. Only remaining draught lager is a flat and disgusting Amstel.
 

Flying Fokker

Well-Known Member
  • Oct 26, 2022
  • #5,028
SBAndy said:
You joke but they ran out of Madri in the lounges last night. Only remaining draught lager is a flat and disgusting Amstel.
Click to expand...
Where is this place you call Lounges?
 
Reactions: torchomatic, clint van damme and robbiethemole

Philosoraptor

Well-Known Member
  • Oct 26, 2022
  • #5,029
SBAndy said:
You joke but they ran out of Madri in the lounges last night. Only remaining draught lager is a flat and disgusting Amstel.
Click to expand...

#BeerWatch
 

jordan210

Well-Known Member
  • Oct 26, 2022
  • #5,030
So today is day 7.

would guess ACL companies will try and file for a new NOI in the comming days.
 

olderskyblue

Well-Known Member
  • Oct 26, 2022
  • #5,031
Flying Fokker said:
Where is this place you call Lounges?
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Don’t tell him Pike…..
 

Nick

Administrator
  • Oct 26, 2022
  • #5,032
Loving that Wasps fans are annoyed their ex-players are signing for teams and they keep going on about "salary caps".
 
Reactions: Kneeza

jordan210

Well-Known Member
  • Oct 26, 2022
  • #5,033
Nick said:
Loving that Wasps fans are annoyed their ex-players are signing for teams and they keep going on about "salary caps".
Click to expand...

Rugby family…..
 
Reactions: torchomatic, Evo1883 and robbiethemole

MalcSB

Well-Known Member
  • Oct 26, 2022
  • #5,034
jordan210 said:
So today is day 7.

would guess ACL companies will try and file for a new NOI in the comming days.
Click to expand...
It’s day 8 (out of 10 working days) and administrators are threatening liquidation, not administration, if bondholders don’t fund marketing costs “In short order”.
 

AOM

Well-Known Member
  • Oct 26, 2022
  • #5,035
rexo87 said:
He's a man of very few words but FWIW

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

 
Reactions: torchomatic and Brighton Sky Blue

jordan210

Well-Known Member
  • Oct 26, 2022
  • #5,036
MalcSB said:
It’s day 8 (out of 10 working days) and administrators are threatening liquidation, not administration, if bondholders don’t fund marketing costs “In short order”.
Click to expand...

Threat is the word. Surely there is money comming in that could pay for the markerting.

What about the rent for office space plus hotel,casino and us.

For example this: Ten-year lease signed by exam provider at the Coventry Building Society Arena | TheBusinessDesk.com

The more you dig in to things it get weirder something doesn’t add up.
 

Philosoraptor

Well-Known Member
  • Oct 26, 2022
  • #5,037
jordan210 said:
Threat is the word. Surely there is money comming in that could pay for the markerting.

What about the rent for office space plus hotel,casino and us.

For example this: Ten-year lease signed by exam provider at the Coventry Building Society Arena | TheBusinessDesk.com

The more you dig in to things it get weirder something doesn’t add up.
Click to expand...

Milking the cow until it dries up.
 

oldskyblue58

CCFC Finance Director
  • Oct 26, 2022
  • #5,038
Following that news yesterday, clearly any buyer has pulled out. I think the statement key bit is "will enter immediate liquidation" thats not the same as administration at all

How does this scenario sound.

ACL goes in to liquidation this week

All contracts leases etc I believe would therefore cease.

The stadium reverts to the freeholder CCC immediately because acl no longer exists and both leases broken.

CCC provides a long lease to a third party operator for a "small" premium. Councils don't usually sell freeholds especially high profile ones

Deal done regarding dilapidation cost.

New owner short term uses the current sub lease terms to retain income from tenants whilst negotiating new leases. To give some certainly to ccfc, g casino etc.

Delaware North continue at least in short term to staff the complex paid by the new owner or CCC whilst everything is fully worked out. So stadium can still be operational.

Ccfc continue to play there using current terms whilst new lease or licence put in place.

Rather than lock the doors ccfc games continue. Because stadium owned temporarily by CCC

Stadium gets a new start with current debts and liabilities removed by the liquidation. Which gives it a chance of success without the historic baggage, and the company set up much simpler.

I do believe there is a business there to have and be successful but
- it has to be without the old baggage
- and it has to be run and owned by a commercial entity that knows how to run stadiums and events.
 
Reactions: skyblueed999, torchomatic, ccfcchris and 13 others
C

coop

Well-Known Member
  • Oct 26, 2022
  • #5,039
When is the Heineken bar going to reopen closed last night in North stand
 

MalcSB

Well-Known Member
  • Oct 26, 2022
  • #5,040
jordan210 said:
Threat is the word. Surely there is money comming in that could pay for the markerting.

What about the rent for office space plus hotel,casino and us.

For example this: Ten-year lease signed by exam provider at the Coventry Building Society Arena | TheBusinessDesk.com

The more you dig in to things it get weirder something doesn’t add up.
Click to expand...
Agreed. Given that the non sports businesses are apparently profitable, you would have thought they could self fund a Rightmove Ad.
 
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