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Wasps going into admin & the impact on CCFC (4 Viewers)

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

Well-Known Member
  • Oct 27, 2022
  • #5,356
Brighton Sky Blue said:
Not sure about that. Having to find a new sponsor for a ground that's just gone bust and lost some of the sporting business.
Click to expand...

Especially how long it took to find CBS and the distinct whiff of desperation about the deal. Didn't Ricoh get several years free cos they couldn't find anyone?
 
Reactions: torchomatic, Skyblueweeman and Saddlebrains

slowpoke

Well-Known Member
  • Oct 27, 2022
  • #5,357
shmmeee said:
Especially how long it took to find CBS and the distinct whiff of desperation about the deal. Didn't Ricoh get several years free cos they couldn't find anyone?
Click to expand...
Yes because nobody would touch sisu with a barge pole and Wasps found out to their cost without a football club at the ground nobody would touch them either.
 
B

Brighton Sky Blue

Well-Known Member
  • Oct 27, 2022
  • #5,358
shmmeee said:
Especially how long it took to find CBS and the distinct whiff of desperation about the deal. Didn't Ricoh get several years free cos they couldn't find anyone?
Click to expand...

They might well be willing to agree a new deal, but would be on less generous terms than before with Wasps gone. Whoever ends up as the new owner has got a lot of work on their hands, perhaps even more than we think
 

Philosoraptor

Well-Known Member
  • Oct 27, 2022
  • #5,359
Brighton Sky Blue said:
Not sure about that. Having to find a new sponsor for a ground that's just gone bust and lost some of the sporting business.
Click to expand...

The lease is interesting, what do you make of this from the prospectus?

Section 12

4. Covenants

(q) Additional Issuer Covenants: So long as any Bond or Coupon remains outstanding, the Issuer
shall not (save as permitted by, or provided for in, the Transaction Documents or with the prior
written consent of the Trustee)

(iii) Merger: consolidate or merge with any other Person or convey or transfer its properties
or assets substantially or as an entirety to any other Person;
 
Last edited: Oct 27, 2022
B

Brighton Sky Blue

Well-Known Member
  • Oct 27, 2022
  • #5,360
Philosorapter said:
The lease is interesting, what do you make of this from the prospectus?


4. Covenants

(q) Additional Issuer Covenants: So long as any Bond or Coupon remains outstanding, the Issuer
shall not (save as permitted by, or provided for in, the Transaction Documents or with the prior
written consent of the Trustee)

(iii) Merger: consolidate or merge with any other Person or convey or transfer its properties
or assets substantially or as an entirety to any other Person;
Click to expand...

Not for the first time, you've confused me.
 
Reactions: lordy_87, eastwoodsdustman, Skyblueweeman and 1 other person

joemercersaces

Well-Known Member
  • Oct 27, 2022
  • #5,361
Greggs said:
can't see anything being here in 250 years mate
Click to expand...
Can you imagine people in 250 years time finding this forum and thinking what were all those sad grumpy tossers arguing endlessly about!
 
Reactions: ccfcmad1, Saddlebrains, Greggs and 1 other person

jordan210

Well-Known Member
  • Oct 27, 2022
  • #5,362
So if we all chip in a tenner. We could have the Skyblue Talk Community stadium.
 
Reactions: duffer, RegTheDonk, pusbccfc and 2 others

Philosoraptor

Well-Known Member
  • Oct 27, 2022
  • #5,363
Brighton Sky Blue said:
Not for the first time, you've confused me.
Click to expand...

Apologies, section 12.4.(q).(iii)

Surely, any sale of ACL would need to be agreed by the bondholders before it goes through, and not WHL creditors if I am reading this right.

ACL is not in administration, so this agreement still stands.
 
Last edited: Oct 27, 2022

Brylowes

Well-Known Member
  • Oct 27, 2022
  • #5,364
Greggs said:
can't see anything being here in 250 years mate
Click to expand...
True Maybe just the Tory party with their 978th consecutive Prime Minister protecting a majority of 2
 

Gynnsthetonic

Well-Known Member
  • Oct 27, 2022
  • #5,365
Philosorapter said:
Surely, any sale of ACL would need to be agreed by the bondholders before it goes through, and not WHL creditors if I am reading this right.

ACL is not in administration, so this agreement still stands.
Click to expand...
It might be liquidated yet
 

Greggs

Well-Known Member
  • Oct 27, 2022
  • #5,366
Brylowes said:
True Maybe just the Tory party with their 978th consecutive Prime Minister protecting a majority of 2
Click to expand...
Robot version of Boris back off his 986th holiday?

imagine how many robot kids the c**t would have by then........
 
Reactions: torchomatic, Skyblueweeman and Brylowes

Mcbean

Well-Known Member
  • Oct 27, 2022
  • #5,367
Will be tomorrow?
 

jordan210

Well-Known Member
  • Oct 27, 2022
  • #5,368
Someone on the wasps site.

“ My wife works in the office space at the CBS Arena.
They are moving everything out tomorrow.”

Wonder if they will be moving everything before the 1-2pm deadline.
 

usskyblue

Well-Known Member
  • Oct 27, 2022
  • #5,369
jordan210 said:
So if we all chip in a tenner. We could have the Skyblue Talk Community stadium.
Click to expand...

Yeah m8. We’ll have the Nick’s ‘Studs Showing’ Stand, Grendel’s ‘15 Pints’ bar and Greggs’ (Don’t miss the bOWL) bogs
 
Reactions: Philosoraptor, lordy_87, Skyblueweeman and 5 others

jordan210

Well-Known Member
  • Oct 27, 2022
  • #5,370
usskyblue said:
Yeah m8. We’ll have the Nick’s ‘Studs Showing’ Stand, Grendel’s ‘15 Pints’ bar and Greggs’ (Don’t miss the bOWL) bogs
Click to expand...

Greggs could do a half time owl show.
 
Reactions: Torquay Sky Blue
B

Brighton Sky Blue

Well-Known Member
  • Oct 27, 2022
  • #5,371
usskyblue said:
Yeah m8. We’ll have the Nick’s ‘Studs Showing’ Stand, Grendel’s ‘15 Pints’ bar and Greggs’ (Don’t miss the bOWL) bogs
Click to expand...

I wonder if chinos will be back in fashion by then.
 

Flying Fokker

Well-Known Member
  • Oct 27, 2022
  • #5,372
Ref Charges against ACL Business. How much is the charge held by Compass?


ACL ASTUTE 2006 LIMITED charges - Find and update company information - GOV.UK

ACL ASTUTE 2006 LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity
find-and-update.company-information.service.gov.uk
 

Thetruthwillout

Active Member
  • Oct 27, 2022
  • #5,373
ccfcrob said:
Villa Scum
Click to expand...
Yea, I have really shown that here, haven't I
 
Reactions: ccfcrob

Philosoraptor

Well-Known Member
  • Oct 27, 2022
  • #5,374
I wonder if they have enough beer for the amount of time this sale may take.

#BeerWatch

or in Otis's case

#PimmsWatch
 

Calista

Well-Known Member
  • Oct 27, 2022
  • #5,375
jordan210 said:
So if we all chip in a tenner. We could have the Skyblue Talk Community stadium.
Click to expand...
The Dufferdome
 
Reactions: Skyblueweeman

pusbccfc

Well-Known Member
  • Oct 27, 2022
  • #5,376
jordan210 said:
Someone on the wasps site.

“ My wife works in the office space at the CBS Arena.
They are moving everything out tomorrow.”

Wonder if they will be moving everything before the 1-2pm deadline.
Click to expand...

That could mean Wasps staff?
 

Torquay Sky Blue

Well-Known Member
  • Oct 27, 2022
  • #5,377
jordan210 said:
So if we all chip in a tenner. We could have the Skyblue Talk Community stadium.
Click to expand...
The Leamington supporters club would take up all the corporate
 

Nick

Administrator
  • Oct 27, 2022
  • #5,378
If there's truth in us having reached some form of financial level footing pre-covid
And if the bond could have been refinanced at significantly less than 6%
And if we hadn't been to court dozens of times
And if we had been able to organise stadium naming rights on time
And if covid hadn't shut the entire complex for 2 years


Then maybe it could have worked
Click to expand...

Everybody elses fault.
 
Reactions: robbiethemole

jordan210

Well-Known Member
  • Oct 27, 2022
  • #5,379
pusbccfc said:
That could mean Wasps staff?
Click to expand...

True. But don’t they only have a skeleton staff now. Guess tomorrow we might know more.
 

Nick

Administrator
  • Oct 27, 2022
  • #5,380
jordan210 said:
Someone on the wasps site.

“ My wife works in the office space at the CBS Arena.
They are moving everything out tomorrow.”

Wonder if they will be moving everything before the 1-2pm deadline.
Click to expand...
To Jordan210 on SBT they are moving out because despite asking constantly they don't know if they will still have a lease on Monday.
Click to expand...

Could well just be a company that rents office space.
 

chiefdave

Well-Known Member
  • Oct 27, 2022
  • #5,381
shmmeee said:
Especially how long it took to find CBS and the distinct whiff of desperation about the deal. Didn't Ricoh get several years free cos they couldn't find anyone?
Click to expand...
Ricoh got it essentially for free because Wasps couldn't afford to take the signs down. Yet another thing that was denied at the time of course.

I suspect that as with the Ericsson and Vodafone deals the CBS have actually paid very little.
 
Reactions: jordan210 and Skybluedownunder

jordan210

Well-Known Member
  • Oct 27, 2022
  • #5,382
Nick said:
Could well just be a company that rents office space.
Click to expand...

Thanks for the update Bigad82 on wasps site.


Sounds like a sensible company taking precautions


I still can’t believe someone took out a 10 year office lease last week.
 

MalcSB

Well-Known Member
  • Oct 27, 2022
  • #5,383
shmmeee said:
Especially how long it took to find CBS and the distinct whiff of desperation about the deal. Didn't Ricoh get several years free cos they couldn't find anyone?
Click to expand...
CBS announced after we returned- the football club was, and remains, the bigger attraction.
 

Bad Boy

Well-Known Member
  • Oct 27, 2022
  • #5,384
So what is, in people's opinions, the best case scenario for CCFC?
 

Alan Dugdales Moustache

Well-Known Member
  • Oct 27, 2022
  • #5,385
bad boy said:
So what is, in people's opinions, the best case scenario for CCFC?
Click to expand...
Get promoted
Win the premier League
Get into the champions League and win that .
 
Reactions: djr8369, ccfcchris, skybluepm2 and 24 others

Nick

Administrator
  • Oct 27, 2022
  • #5,386
jordan210 said:
Thanks for the update Bigad82 on wasps site.


Sounds like a sensible company taking precautions


I still can’t believe someone took out a 10 year office lease last week.
Click to expand...

Bigad82 says he will meet you in the Tudor Rose for a beer, wear a red flower.
 
Reactions: Skyblueweeman

Otis

Well-Known Member
  • Oct 27, 2022
  • #5,387
Philosorapter said:
I wonder if they have enough beer for the amount of time this sale may take.

#BeerWatch

or in Otis's case

#PimmsWatch
Click to expand...
Will they have enough beer for Saturday? My cousin Gary is going, so probably not .
 

Nick

Administrator
  • Oct 27, 2022
  • #5,388
MalcSB said:
CBS announced after we returned- the football club was, and remains, the bigger attraction.
Click to expand...

CCFC being there was insisted on apparently.
 
Reactions: bawtryneal and Saddlebrains

MalcSB

Well-Known Member
  • Oct 27, 2022
  • #5,389
Nick said:
CCFC being there was insisted on apparently.
Click to expand...
Shugs never did accept that.
 

Nick

Administrator
  • Oct 27, 2022
  • #5,390
MalcSB said:
Shugs never did accept that.
Click to expand...

To be fair, only a handful of their fans accepted they were in the shit.

It's gone from "City fans making up rumours" to "we know, you don't need to keep telling us".
 
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