Terry Gibson's perm
Well-Known Member
If they reform I hope it’s in south London so the local idiots that jumped on the bandwagon have a long journey but I guess they will want to watch top level rugger as it’s all about the game.
Wasps legends and former owners sound exactly the type of group that would want to move them back to London. The Women's team have already made the move back, their version of the former players association never moved to Cov in the first place, all their events were in London.
Surely nobody with half a brain would even consider playing championship rugby at the CBS and I doubt CRFC would be keen to ground share with them. Where else would they play here?
I suspect it might not be in the council's gift to open the stadium. But if ACL go into admin, the administrator would presumably be able to do so.
Wasps legends and former owners sound exactly the type of group that would want to move them back to London. The Women's team have already made the move back, their version of the former players association never moved to Cov in the first place, all their events were in London.
Surely nobody with half a brain would even consider playing championship rugby at the CBS and I doubt CRFC would be keen to ground share with them. Where else would they play here?
Cant see the council not opening the gates. The bad PR alone is worth spending whatever it takes to get it open. Can’t imagine matchday costs are north of £100k and they can always try and recoup from any buyer or the club later if they really want.
It's not quite that simple though. If the administration button is pressed on Monday the assets vest in the hands of the administrators. It will be their decision as when and if the doors are open or indeed shut not CCC.
If it is liquidation then the lease doesn't cease immediately, it remains an asset to be sold. It could take time and ccc may have to go to court to get possession then open the doors.
Administrators/liquidator will close the doors if the figures they have say that the stadium won't break even for the next month or months. The reason for that is because administrators become personally liable for any losses.
In the meantime events booked in already will be reconsidering their bookings so affecting future incomes and the administrator view of viability
I thought in any insolvency event the lease reverts to the council if they wish?
Makes me wonder what is going on. If wasps holdings which is wasps rfc is bought then they are the owners of acl I assume........
Perhaps just being a little sceptical but is this being staged ie a pre pack situation? Not an insolvency expert so a bit beyond my skill set
Yes it should do but it will take time and possibly court time.
Is anybody actually acting on behalf of the bondholders to enforce any of this? The trustee seems to have done fuck all up to now.It's the same issue though, the bondholders have a mortgage on the lease, so they're not going to let it just revert to the council.
If either the administrator or the council try to disclaim the lease, I think the bondholder (or at least their trustee) would go to court to stop it happening. It's hard to find stuff about this, but I think we're talking about 'vesting orders', as described here...
What an interesting vest: vesting orders following disclaimer of a lease
Daniel Gatty discusses the recent High Court ruling in Leon v Her Majesty's Attorney General and others [2018] EWHC 3026 (Ch)gatehouselaw.co.uk
Is Birmingham in the East Midlands now?Steve Waggott gives update on Rovers' game with Coventry City
Steve Waggott expects Rovers’ game against Coventry City to go ahead – but says a decision over where the fixture will be played will be made on…www.lancashiretelegraph.co.uk
Half an hour indicates Birmingham citys ground?
The bit that worries me, is in the full statement, it states about building a squad to "compete at the highest level".Wasps legends and former owners sound exactly the type of group that would want to move them back to London. The Women's team have already made the move back, their version of the former players association never moved to Cov in the first place, all their events were in London.
Surely nobody with half a brain would even consider playing championship rugby at the CBS and I doubt CRFC would be keen to ground share with them. Where else would they play here?
Me neither but they can appeal the punishmentWasps plan to play at the top-level next season…. Not sure how that is going to work.
The bit that worries me, is in the full statement, it states about building a squad to "compete at the highest level".
Wonder if they may be in line to buy the ground/lease, (from themselves so to speak (wasps) ) when it goes into admin on Monday.??
If the decision is being/has to be made by Monday lunchtime, its nailed on to NOT be at the CBS.Steve Waggott gives update on Rovers' game with Coventry City
Steve Waggott expects Rovers’ game against Coventry City to go ahead – but says a decision over where the fixture will be played will be made on…www.lancashiretelegraph.co.uk
Half an hour indicates Birmingham citys ground?
Not when I last checked…Is Birmingham in the East Midlands now?
Wasps plan to play at the top-level next season…. Not sure how that is going to work.
It was Covids fault they lost money!... wasn't it!?!why on earth would they re-purchase the lease? worked so well the first time didn't it...
I liked the music pre-match today playing Streets of London. That was no coincidence, naughty boys.Wasps legends and former owners sound exactly the type of group that would want to move them back to London. The Women's team have already made the move back, their version of the former players association never moved to Cov in the first place, all their events were in London.
Surely nobody with half a brain would even consider playing championship rugby at the CBS and I doubt CRFC would be keen to ground share with them. Where else would they play here?
You could well be right, but if it is administration it will be the same as the ones currently in place for Wasps Hildings - so they will have had all the information they need for some time.If the decision is being/has to be made by Monday lunchtime, its nailed on to NOT be at the CBS.
Was told this evening that it is administration on Monday (not liquidation) and that because a decision has to be made on Monday regarding the game, it will be played away from CBS as too early for any administrator to make the call.
Paying all their debts off?With them agreeing a sale of wasps in admin this could lead to an extension for acl on the understanding the new owners will bail it out. The new consortium buying wasps just takes over ACL as well.
Potentially or through a pre packed admin? Can’t see these buying a rugby club without a home can you?Paying all their debts off?
They aren't just going to be able to go into admin and have debts wiped and go again, surely?Potentially or through a pre packed admin? Can’t see these buying a rugby club without a home can you?
Is anybody actually acting on behalf of the bondholders to enforce any of this? The trustee seems to have done fuck all up to now.
Didn't the bond prospectus say something about the lease being security but others, ie the council, potentially having claim to it as well?
Probably more like when we get told we're leaving no stone unturned in assembling the greatest squad in the history of football.The bit that worries me, is in the full statement, it states about building a squad to "compete at the highest level".
They aren't just going to be able to go into admin and have debts wiped and go again, surely?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?