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Wasps going into admin & the impact on CCFC (5 Viewers)

  • Thread starter Alkhen
  • Start date Sep 21, 2022
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Sky Blue Pete

Well-Known Member
  • Oct 26, 2022
  • #5,216
Grendel said:
Can’t see any way Sisu will purchase the lease
Click to expand...
For why? I don’t either just interested
 

Bernie Rhodes Nose

Well-Known Member
  • Oct 26, 2022
  • #5,217
Deleted member 5849 said:
This is a major problem, isn't it. I know I keep banging on about the fantasy stadium, but where is the incentive to even try and do a deal with SISU, as long as they pursue their folly?
Click to expand...
Maybe they mean they will sell within that time
 
B

Brighton Sky Blue

Well-Known Member
  • Oct 26, 2022
  • #5,218
GIMOC said:
@Brighton Sky Blue see your laughing. Just wait. Come tomorrow when a statement is released where staff for ACL are not available after being laid off.
Click to expand...

It wasn't a pun? 'Behind closed doors'?
 
W

wingy

Well-Known Member
  • Oct 26, 2022
  • #5,219
Well time to overload George's email account isn't it , for another expansive answer .
Yes.
 
Reactions: Gynnsthetonic

Nick

Administrator
  • Oct 26, 2022
  • #5,220
wingy said:
Well time to overload George's email account isn't it , for another expansive answer .
Yes.
Click to expand...
I asked at the start of the week. He said things are changing every day and they are working with ccfc.
 

Sky Blue Pete

Well-Known Member
  • Oct 26, 2022
  • #5,221
Nick said:
I asked at the start of the week. He said things are changing every day and they are working with ccfc.
Click to expand...
He loves you ask again for some specifics
 
Reactions: Moff, duffer and Gynnsthetonic

Old Warwickshire lad

Well-Known Member
  • Oct 26, 2022
  • #5,222
shmmeee said:
Still annoyed I wasn’t allowed a flask of tea in the ground last night. they’d probably confiscate your babybel for being a potential missile.

Since when did they decide no flasks ?Last season it was allowed.
At my age I needs me cuppa when the weather turns.
Click to expand...
 
Reactions: robbiethemole, shmmeee and wingy

Bernie Rhodes Nose

Well-Known Member
  • Oct 26, 2022
  • #5,223
Saddlebrains said:
Update from my Gilbert leak mate:

Rumour abound at the council that when admin happens SISU are in pole position

Americans have been in and around the council house having meetings,nothing to do with Dawkins made up yank, American SISU investors. Were also at the game last night

Someone could of course usurp, but turns out no one is interested at the mo



Maybe those on here who said SISU have been quiet for a reason were right.

Imagine......
Click to expand...
If your correct they will build a statue of you (next to Joy) outside the CBS.
 
Reactions: Briles and Sky Blue Pete

slowpoke

Well-Known Member
  • Oct 26, 2022
  • #5,224
GIMOC said:
Stadium staff. Big possibility game will either be cancelled or be behind closed doors
Click to expand...
Was stated recently 200 staff have transferred to CCFC.
 
Reactions: Sky Blue Pete

Sky Blue Harry H

Well-Known Member
  • Oct 26, 2022
  • #5,225
With the £££s due to flow in on Saturday and Tuesday, I can't believe that those with the power to make things happen won't be able to get their act together to ensure the games go ahead. Madness if not.
 

SomersetSB

Well-Known Member
  • Oct 26, 2022
  • #5,226
Otis said:
Be great business for the cafe there.
Click to expand...
Still get a better chance of being served too!!
 

Terry Gibson's perm

Well-Known Member
  • Oct 26, 2022
  • #5,227
If it’s behind closed doors I take it the Warwick and Leamington supporters club will get in with no problem
 
Reactions: Fergusons_Beard, Moff, fernandopartridge and 6 others

shmmeee

Well-Known Member
  • Oct 26, 2022
  • #5,228
Evo1883 said:
Sisu being a part owner of the stadium (example ) suddenly means the football club is worth money and a sellable asset doesn't it?
Click to expand...

Thats the hope. Not sure why someone would wait for that and not get the stadium now though.
 
Reactions: Fergusons_Beard and Sky Blue Pete

shmmeee

Well-Known Member
  • Oct 26, 2022
  • #5,229
Warwickshire lad said:
Flasks
Click to expand...

I know what you mean and I’m only 41! Got turned away at the turnstiles with my thermos yesterday, luckily I’m only in the car park so could just drop it back. “No bottles” they said.
 

Gynnsthetonic

Well-Known Member
  • Oct 26, 2022
  • #5,230
shmmeee said:
Thats the hope. Not sure why someone would wait for that and not get the stadium now though.
Click to expand...
Well how much is it worth now or next Monday,
 

pusbccfc

Well-Known Member
  • Oct 26, 2022
  • #5,231
Behind closed doors would be awful. Get it played somewhere else.
 

shmmeee

Well-Known Member
  • Oct 26, 2022
  • #5,232
duffer said:
Unless the council want to spend a long time in court again, I think the lease has to go to the bondholders, for it to be sold on their behalf - they have a mortgage on it.

That's unless ACL really does go for voluntary liquidation, in which case the liquidator can disclaim the lease. Are they really saying that a business which includes a hotel and casino lease (and share of the takings for the latter) has no chance of trading profitably? This sounds dubious to me....
Click to expand...

Sorry i left that out, I suspect admin is the councils preferred route so no messy decisions to take, but why would anyone pick it up with a massive debt when they can just let it liquidate and go back to the council? Not just Sisu but anyone at all?
 
Reactions: Colin Steins Smile, Brighton Sky Blue and Sky Blue Pete

shmmeee

Well-Known Member
  • Oct 26, 2022
  • #5,233
Gynnsthetonic said:
Well how much is it worth now or next Monday,
Click to expand...

Well whenever. Surely by letting it go to Sisu you weaken your hand? Basic Monopoly innit?
 
Reactions: Sky Blue Pete
B

Brighton Sky Blue

Well-Known Member
  • Oct 26, 2022
  • #5,234
shmmeee said:
Well whenever. Surely by letting it go to Sisu you weaken your hand? Basic Monopoly innit?
Click to expand...

We've been waiting for Wasps to land on our Mayfair hotel for 8 years. Game always goes on too bloody long.
 
Reactions: Moff, SkyBlueSam01, Kingokings204 and 3 others

MusicDating

Euro 2016 Prediction League Champion!!
  • Oct 26, 2022
  • #5,235
shmmeee said:
I know what you mean and I’m only 41! Got turned away at the turnstiles with my thermos yesterday, luckily I’m only in the car park so could just drop it back. “No bottles” they said.
Click to expand...

They should have checked the thermos contents and let you in -

NEWS: Matchday Guide vs Rotherham United

Coventry City host Rotherham United on Tuesday night, with the matchday guide for the game now available.
www.ccfc.co.uk

 
Reactions: shmmeee

Terry Gibson's perm

Well-Known Member
  • Oct 26, 2022
  • #5,236
MusicDating said:
They should have checked the thermos contents and let you in -

NEWS: Matchday Guide vs Rotherham United

Coventry City host Rotherham United on Tuesday night, with the matchday guide for the game now available.
www.ccfc.co.uk

View attachment 26814
Click to expand...

I wonder who was the last person who tried to enter the ground with a picnic.
 
Reactions: MusicDating, CCFC54321 and Deleted member 9744

Sky Blue Pete

Well-Known Member
  • Oct 26, 2022
  • #5,237
MusicDating said:
They should have checked the thermos contents and let you in -

NEWS: Matchday Guide vs Rotherham United

Coventry City host Rotherham United on Tuesday night, with the matchday guide for the game now available.
www.ccfc.co.uk

View attachment 26814
Click to expand...
Happened in front of us they checked and let them in. Be insistent next time @shmmee
 
Reactions: Old Warwickshire lad
C

Ccfcsj

Well-Known Member
  • Oct 26, 2022
  • #5,238
MusicDating said:
They should have checked the thermos contents and let you in -

NEWS: Matchday Guide vs Rotherham United

Coventry City host Rotherham United on Tuesday night, with the matchday guide for the game now available.
www.ccfc.co.uk

View attachment 26814
Click to expand...
I always take a flask of tea in with me. Never been stopped.
 
C

CCFC54321

Well-Known Member
  • Oct 26, 2022
  • #5,239
Terry Gibson's perm said:
I wonder who was the last person who tried to enter the ground with a picnic.
Click to expand...
If we play on a Sunday lunch time in the future would you be allowed in with full Sunday roast under foil? (party plate obviously)

Asking for a friend.
 
Reactions: Senior Vick from Alicante, EalingSB, Tile Hill Phil and 2 others
H

HuckerbyDublinWhelan

Well-Known Member
  • Oct 26, 2022
  • #5,240
shmmeee said:
Sorry i left that out, I suspect admin is the councils preferred route so no messy decisions to take, but why would anyone pick it up with a massive debt when they can just let it liquidate and go back to the council? Not just Sisu but anyone at all?
Click to expand...
I don’t understand what sane person would buy it currently. I may be wrong but if it’s picked up in admin, as the bond is a charge - aren’t you on the hook for the full whack?

every Investor is literally Better off waiting for liquidation and trying to negotiate a new lease with the council and have a complete clean slate
 
Reactions: Colin Steins Smile and shmmeee
C

CCFC54321

Well-Known Member
  • Oct 26, 2022
  • #5,241
HuckerbyDublinWhelan said:
I don’t understand what sane person would buy it currently. I may be wrong but if it’s picked up in admin, as the bond is a charge - aren’t you on the hook for the full whack?

every Investor is literally Better off waiting for liquidation and trying to negotiate a new lease with the council and have a complete clean slate
Click to expand...
Wasps fans on Twitter hopeful that an investor will come in at the last minute and plough £453,000,000,0000,000,000 into wasps just like that and they keep the CBS. I had a little giggle.
 
Reactions: torchomatic and duffer
H

HuckerbyDublinWhelan

Well-Known Member
  • Oct 26, 2022
  • #5,242
CCFC54321 said:
Wasps fans on Twitter hopeful that an investor will come in at the last minute and plough £453,000,000,0000,000,000 into wasps just like that and they keep the CBS. I had a little giggle.
Click to expand...
I hope SISU takeover purely to end the little hope they have of still being linked to the CBS.

the sooner we can rip out”WASPS” from the seat and the badges, the better
 
Reactions: SBQuin, duffer, no_loyalty and 12 others

Brylowes

Well-Known Member
  • Oct 26, 2022
  • #5,243
shmmeee said:
Still annoyed I wasn’t allowed a flask of tea in the ground last night. they’d probably confiscate your babybel for being a potential missile.
Click to expand...

Well you will insist on using that 50/50 CCFC - Rangers FC thermos flask
 
Reactions: SkyBlueSoul and Old Warwickshire lad

junglej13

Well-Known Member
  • Oct 26, 2022
  • #5,244
shmmeee said:
Still annoyed I wasn’t allowed a flask of tea in the ground last night.
Click to expand...
 
Reactions: no_loyalty, Somerset Sky Blue, ccfcchris and 16 others

duffer

Well-Known Member
  • Oct 26, 2022
  • #5,245
shmmeee said:
Sorry i left that out, I suspect admin is the councils preferred route so no messy decisions to take, but why would anyone pick it up with a massive debt when they can just let it liquidate and go back to the council? Not just Sisu but anyone at all?
Click to expand...

Fair enough, but I still don't see quite how that plays out. At the moment ACL have an asset of value, the lease. The liquidator/administrator's legal duty is to recover as much as possible for the creditors (bondholders first, then HMRC, then everyone else, iirc). He can't do that if he immediately disclaims the lease.

SISU broke the lease when we went into admin because it was a cost to the business, but to ACL it's a benefit. It's not in the creditors best interest for it to be ditched by the administrator/liquidator, in fact I think it might open them up to legal action.

Just mho of course... I wish I hadn't given up my season ticket at the Old Bailey now, I had seats on the half-way line and everything...

Company Administration Process Explained: A Complete Guide - Francis Wilks & Jones

Learn about the company administration process and how FWJ can help with business rescue and creditor negotiations.
www.franciswilksandjones.co.uk
 
Reactions: DazzleTommyDazzle

duffer

Well-Known Member
  • Oct 26, 2022
  • #5,246
Sky Blue Pete said:
Happened in front of us they checked and let them in. Be insistent next time @shmmee
Click to expand...

Maybe they looked more respectable than @shmmeee
 
Reactions: Old Warwickshire lad and shmmeee

Calista

Well-Known Member
  • Oct 27, 2022
  • #5,247
Grendel said:
Can’t see any way Sisu will purchase the lease
Click to expand...
Presumably this is the 250 year lease you are talking about, the one that Sisu were furious was never made available to them before?

Do you mean they wouldn’t want it or that they can’t afford it, at least on their own?

A couple of months ago Sisu were reported in The Times to be angling for third party investors to buy the club along with the Arena lease, but that was mostly dismissed on here as some sort of posturing IIRC.
 
R

robbiethemole

Well-Known Member
  • Oct 27, 2022
  • #5,248
junglej13 said:
View attachment 26816
Click to expand...
That looks remarkably like a thermonuclear device
 
B

Brighton Sky Blue

Well-Known Member
  • Oct 27, 2022
  • #5,249
CCFC54321 said:
Wasps fans on Twitter hopeful that an investor will come in at the last minute and plough £453,000,000,0000,000,000 into wasps just like that and they keep the CBS. I had a little giggle.
Click to expand...
 
Reactions: robbiethemole, chiefdave, AOM and 4 others

letsallsingtogether

Well-Known Member
  • Oct 27, 2022
  • #5,250
Terry Gibson's perm said:
Aren’t there food and beer things outside already?
Click to expand...
There has been for the last 2 home games.
Burger stall cookie stall and 2 bars,
In the smoking area by block 18 open at half time not sure about other parts of the ground.
 
Reactions: Terry Gibson's perm
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