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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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skyblu3sk

Well-Known Member
  • Oct 28, 2022
  • #5,496
Sky Blue Pete said:
Yep
Click to expand...
Did I read it's the first bond of its kind to fail. Seems unlikely but sure I read it somewhere.
 

pusbccfc

Well-Known Member
  • Oct 28, 2022
  • #5,497
Grendel said:
Overson I assume funded it
Click to expand...

Not what he said away at Hull. He was honest and said he couldn't afford it. People think he's this ultra rich millionaire. He can't afford a 6 figure repair on a pitch just because he loves the club.
 
Reactions: TwistAndShoutCCFC1987, SkyBlueSam01, CBS16 and 1 other person

Sky Blue Pete

Well-Known Member
  • Oct 28, 2022
  • #5,498
shmmeee said:
Thats that fucked then
Click to expand...
Really is. I used to know many councillors and would vouch personally for their character , seems a long time ago now and maybe I was just naive
 
Reactions: Deleted member 5849

GIMOC

Well-Known Member
  • Oct 28, 2022
  • #5,499
pusbccfc said:
Not what he said away at Hull. He was honest and said he couldn't afford it. People think he's this ultra rich millionaire. He can't afford a 6 figure repair on a pitch just because he loves the club.
Click to expand...

correct. The fella has done well but he isn’t minted. The fact he uses a coach with fans every week from rugby speaks volumes. He has helped where he can but not on that scale
 
Reactions: pusbccfc

Sky Blue Pete

Well-Known Member
  • Oct 28, 2022
  • #5,500
GIMOC said:
correct. The fella has done well but he isn’t minted. The fact he uses a coach with fans every week from rugby speaks volumes. He has helped where he can but not on that scale
Click to expand...
Don’t see why it would be secret if cwg paid
 

Bernie Rhodes Nose

Well-Known Member
  • Oct 28, 2022
  • #5,501
Saddlebrains said:
Fat ladys clearing her throat......
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...and the sculpture artist is poised.
 

The Philosopher

Well-Known Member
  • Oct 28, 2022
  • #5,502
I still think it was CCFC that paid. They had a choice: get the pitch sorted and play or leave as is and get sanctioned by FL
and have no additional gate receipts for a while.

Not saying we would have kept Hyam else but (out comes the fag packet) say 3 lots of walk ups and away fans and bit of add ons? £500k (3 lots of exp att - ST sales, 20k - 12k, 8k. Therefore 24k unsold tickets at £15-25 plus any extras ) (and FFS whoever is going to be a wang and waste time arguing the figures might be a bit wrong - get the point then a life)

Was is £100k to lay the pitch?

Were CCFC £600k out on budget : cash flow forecast?

What do we guess, half of the Hyam fee paid up front?

Pesky Wasps needed swatting.
 

AFCCOVENTRY

Well-Known Member
  • Oct 28, 2022
  • #5,503
 
Reactions: Sky Blue Pete

SeaSeeEffCee

Well-Known Member
  • Oct 28, 2022
  • #5,504
Sounds like we’re probably fucked again.
 
Reactions: Saddlebrains

alexccfc99

Well-Known Member
  • Oct 28, 2022
  • #5,505
Still not jumping on board with all the hysteria, the fact we may temporarily be unable to use the CBS doesn’t make me any less delighted at Wasps demise

We’ve been in much more worrying situations than this as a football club
 
Reactions: ccfcchris, RegTheDonk, Moff and 9 others

Skyblueweeman

Well-Known Member
  • Oct 28, 2022
  • #5,506
pusbccfc said:
Not what he said away at Hull. He was honest and said he couldn't afford it. People think he's this ultra rich millionaire. He can't afford a 6 figure repair on a pitch just because he loves the club.
Click to expand...

I've heard quite the opposite to be fair from good sources, that he's actually very minted. Assume he doesn't like to talk/brag about it.
 
Reactions: Moff and Sky Blue Pete

shepardo01

Well-Known Member
  • Oct 28, 2022
  • #5,507
SeaSeeEffCee said:
Sounds like we’re probably fucked again.
Click to expand...
Wouldn't administration see us only slightly f**cked, but liquidation would leave us very f**cked????
 
Reactions: Saddlebrains

Nick

Administrator
  • Oct 28, 2022
  • #5,508
AFCCOVENTRY said:
View attachment 26837
Click to expand...
Yeah we knew that
 
Reactions: Sky Blue Pete

Gynnsthetonic

Well-Known Member
  • Oct 28, 2022
  • #5,509
shepardo01 said:
Wouldn't administration see us only slightly f**cked, but liquidation would leave us very f**cked????
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Could the stadium not operate even just 3 sides whilst the rest of the arena complex is shut, just so our games go ahead
 

GIMOC

Well-Known Member
  • Oct 28, 2022
  • #5,510
Sky Blue Pete said:
Don’t see why it would be secret if cwg paid
Click to expand...

from what I heard, not sure how true. We paid for the pitch ourselves which meant no rent to be paid.
Skyblueweeman said:
I've heard quite the opposite to be fair from good sources, that he's actually very minted. Assume he doesn't like to talk/brag about it.
Click to expand...

he’s not. He’s done well for himself but certainly not minted enough to pay for a pitch relay etc…
 

AOM

Well-Known Member
  • Oct 28, 2022
  • #5,511
 

shmmeee

Well-Known Member
  • Oct 28, 2022
  • #5,512
Gynnsthetonic said:
Could the stadium not operate even just 3 sides whilst the rest of the arena complex is shut, just so our games go ahead
Click to expand...

Would have to be behind closed doors I’d expect cos no staff.
 

no_loyalty

Well-Known Member
  • Oct 28, 2022
  • #5,513
alexccfc99 said:
Still not jumping on board with all the hysteria, the fact we may temporarily be unable to use the CBS doesn’t make me any less delighted at Wasps demise

We’ve been in much more worrying situations than this as a football club
Click to expand...

We don’t want anymore home games postponed while we have momentum and are in good form.
 

shepardo01

Well-Known Member
  • Oct 28, 2022
  • #5,514
Gynnsthetonic said:
Could the stadium not operate even just 3 sides whilst the rest of the arena complex is shut, just so our games go ahead
Click to expand...
One would need to be the "complex" side so players could change, media can access etc.... not sure that would be viable??
 

chiefdave

Well-Known Member
  • Oct 28, 2022
  • #5,515
Sky Blue Pete said:
Don’t see why it would be secret if cwg paid
Click to expand...
It would make no sense for Wasps to keep insisting there was no problem if they knew it was fucked and the CWG were paying to fix it. All it would have needed would have been a statement saying there was more damage than expected and the CWG are paying for the work required to bring it up to standard which is expected to be completed by whatever date.

That's a million miles from what we had which was them insisting nothing was wrong and the pitch was safe to play on.
 

chiefdave

Well-Known Member
  • Oct 28, 2022
  • #5,516
AFCCOVENTRY said:
View attachment 26837
Click to expand...
multiple sources could just be the two posts online we already knew about. My neighbours runs a company that provides event services up there and as far as they are concerned everything is going ahead as usual.
 
Reactions: torchomatic

GIMOC

Well-Known Member
  • Oct 28, 2022
  • #5,517
alexccfc99 said:
Still not jumping on board with all the hysteria, the fact we may temporarily be unable to use the CBS doesn’t make me any less delighted at Wasps demise

We’ve been in much more worrying situations than this as a football club
Click to expand...

thats the issue though. What starts off not having use of the ground what next? Loss of income? Uncertainty in short Term. It’s a bad pathetic that your happy for the club to suffer because wasps have gone under. I couldn’t give a fuck about wasps. I care about CCFC. At the minute, we have alot of unanswered questions and have no idea if we have a game on Tuesday. That’s shit
 

Sky Blue Pete

Well-Known Member
  • Oct 28, 2022
  • #5,518
Gynnsthetonic said:
Could the stadium not operate even just 3 sides whilst the rest of the arena complex is shut, just so our games go ahead
Click to expand...
Only if Martin and acl and ccc play fair
 

GIMOC

Well-Known Member
  • Oct 28, 2022
  • #5,519
chiefdave said:
multiple sources could just be the two posts online we already knew about. My neighbours runs a company that provides event services up there and as far as they are concerned everything is going ahead as usual.
Click to expand...
Third party event suppliers will be the last to know. They won’t be privy to it all. Tuesday as it stands is in serious doubt
 
S

Specs WT-R75

Well-Known Member
  • Oct 28, 2022
  • #5,520
Senior Vick from Alicante said:
The gift of the lease would fall back to the council, i believe someone posted that previously.
Click to expand...

The lease wasn't gifted. They paid 1m in consideration. That said I am aware that the lease can go back to the council, but I assume that is a "fail-safe" clause. Pretty sure the council would be sued by the bond holders quicker than you could say "state aid".
 
L

Levship20

Well-Known Member
  • Oct 28, 2022
  • #5,521
GIMOC said:
thats the issue though. What starts off not having use of the ground what next? Loss of income? Uncertainty in short Term. It’s a bad pathetic that your happy for the club to suffer because wasps have gone under. I couldn’t give a fuck about wasps. I care about CCFC. At the minute, we have alot of unanswered questions and have no idea if we have a game on Tuesday. That’s shit
Click to expand...

Duggins gave assurances that everything will be done to ensure CCFC continue to play at the CBS.. the F’in council signed this deal with the pests, now is the time to step up and support CCFC. What an absolute shambles.. I will be emailing my local councillor today and Duggins & co will be on copy
 
Reactions: Bernie Rhodes Nose

Sky Blue Pete

Well-Known Member
  • Oct 28, 2022
  • #5,522
Levship20 said:
Duggins gave assurances that everything will be done to ensure CCFC continue to play at the CBS.. the F’in council signed this deal with the pests, now is the time to step up and support CCFC. What an absolute shambles.. I will be emailing my local councillor today and Duggins & co will be on copy
Click to expand...
Everyone should email them and call them out. It’s in their gift to enable us to play there during admin
 
Reactions: Bernie Rhodes Nose

Nick

Administrator
  • Oct 28, 2022
  • #5,523
GIMOC said:
thats the issue though. What starts off not having use of the ground what next? Loss of income? Uncertainty in short Term. It’s a bad pathetic that your happy for the club to suffer because wasps have gone under. I couldn’t give a fuck about wasps. I care about CCFC. At the minute, we have alot of unanswered questions and have no idea if we have a game on Tuesday. That’s shit
Click to expand...
All of the companies using the Ricoh seem to have unanswered questions
 
Reactions: torchomatic, GIMOC and Sky Blue Pete

GIMOC

Well-Known Member
  • Oct 28, 2022
  • #5,524
Levship20 said:
Duggins gave assurances that everything will be done to ensure CCFC continue to play at the CBS.. the F’in council signed this deal with the pests, now is the time to step up and support CCFC. What an absolute shambles.. I will be emailing my local councillor today and Duggins & co will be on copy
Click to expand...

that’s my concern. He can give reassurance all he wants. it’s out of his hands.Like you say bud, complete shambles
 

Grendel

Well-Known Member
  • Oct 28, 2022
  • #5,525
GIMOC said:
from what I heard, not sure how true. We paid for the pitch ourselves which meant no rent to be paid.


he’s not. He’s done well for himself but certainly not minted enough to pay for a pitch relay etc…
Click to expand...

His company sold for over £200 million

The rent is paid quarterly and I doubt they’d just say don’t pay the next instalment
 
Reactions: Moff, GaryMabbuttsLeftKnee, Skyblueweeman and 1 other person

chiefdave

Well-Known Member
  • Oct 28, 2022
  • #5,526
Looking at the events happening next week there' s no signs of any concern or arrangements being made to move or postpone. There's exhibitors posting on social media that they're ready for events there at the start of next week.

Obviously there's lots of unknowns but I don't think assuming the worst case scenario based potentially based on nothing but a couple of posts on the Wasps forum, which isn't exactly known for reliable information, is really helping.

Forget about the football club, will the council really want a load of events cancelled, that's not likely to attract a buyer when they try and shift the lease again.
 
Reactions: duffer, CCFCSteve and Levship20

Grendel

Well-Known Member
  • Oct 28, 2022
  • #5,527
chiefdave said:
Looking at the events happening next week there' s no signs of any concern or arrangements being made to move or postpone. There's exhibitors posting on social media that they're ready for events there at the start of next week.

Obviously there's lots of unknowns but I don't think assuming the worst case scenario based potentially based on nothing but a couple of posts on the Wasps forum, which isn't exactly known for reliable information, is really helping.

Forget about the football club, will the council really want a load of events cancelled, that's not likely to attract a buyer when they try and shift the lease again.
Click to expand...

People will carry on booking events but it’s reality that liquidation especially would create an issue. It wouldn’t have an impact on a buyer in reality
 

alexccfc99

Well-Known Member
  • Oct 28, 2022
  • #5,528
GIMOC said:
thats the issue though. What starts off not having use of the ground what next? Loss of income? Uncertainty in short Term. It’s a bad pathetic that your happy for the club to suffer because wasps have gone under. I couldn’t give a fuck about wasps. I care about CCFC. At the minute, we have alot of unanswered questions and have no idea if we have a game on Tuesday. That’s shit
Click to expand...

I’m just not panicking, it’s common sense to understand there wouldn’t be a buyer until next week - why would someone fork out millions for a distressed company now when they could have it for next to nothing next week

Any new buyer would be completely mental to kick CCFC out in addition to that
 
Reactions: Brylowes, Skyblueweeman, TomRad85 and 1 other person

GIMOC

Well-Known Member
  • Oct 28, 2022
  • #5,529
Grendel said:
His company sold for over £200 million

The rent is paid quarterly and I doubt they’d just say don’t pay the next instalment
Click to expand...

He didn’t get all the 200 million mate. I know that for a fact. He didn’t get anywhere near that figure, loads of parties involved in his business.
 
Reactions: pusbccfc

Grendel

Well-Known Member
  • Oct 28, 2022
  • #5,530
alexccfc99 said:
I’m just not panicking, it’s common sense to understand there wouldn’t be a buyer until next week - why would someone fork out millions for a distressed company now when they could have it for next to nothing next week

Any new buyer would be completely mental to kick CCFC out in addition to that
Click to expand...

the admin argument versus non admin is a bit lame - you can agree a deal pre admin which takes the admin process into account - that’s what Sisu did when buying us
 
Reactions: CCFCSteve and Deleted member 5849
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