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Wasps going into admin & the impact on CCFC (9 Viewers)

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

Well-Known Member
  • Oct 31, 2022
  • #6,861
Did you know in the prospectus, ACL has a licence which states wasps need to play all their home games at the Arena for 50 years!
 
Reactions: Sky Blue Pete
S

SkyBlueSam01

Well-Known Member
  • Oct 31, 2022
  • #6,862
What's this about Fisher and keys?
lord_garrincha said:
Well, if you believe the guff on the socials, there will later be a picture of Tim Fisher, with a shit eating grin, swinging around a massive set of keys like some prison warden!
Click to expand...

Can't find anything myself? Any links?

Currently in an ACL clinic at work and taking breaks every 2 minutes to check on the current status of ACL... All getting a bit much to get my head around
 

Nick

Administrator
  • Oct 31, 2022
  • #6,863
SkyBlueSam01 said:
What's this about Fisher and keys?


Can't find anything myself? Any links?

Currently in an ACL clinic at work and taking breaks every 2 minutes to check on the current status of ACL... All getting a bit much to get my head around
Click to expand...

End up telling a patient their ACL is a c**t.
 
Reactions: SkyBlueSam01

skyblueeyesrevisited

Well-Known Member
  • Oct 31, 2022
  • #6,864
lord_garrincha said:
I will owe Tim an apology... For throwing a chair at him in that pub in Brentford!
Click to expand...
And the woman that was sitting in it at the time
 
Reactions: SomersetSB and Otis

lord_garrincha

Well-Known Member
  • Oct 31, 2022
  • #6,865
skyblueeyesrevisited said:
And the woman that was sitting in it at the time
Click to expand...
She knew what I was like when she married me...
 
Reactions: Brylowes, OldBedrocker, Frostie and 1 other person

MAFF

Well-Known Member
  • Oct 31, 2022
  • #6,866

ooooof
 
S

SkyBlueSam01

Well-Known Member
  • Oct 31, 2022
  • #6,867
Nick said:
End up telling a patient their ACL is a c**t.
Click to expand...

Already told one their ACL is going into liquidation
 
Reactions: Nick and Sky Blue Pete

The Philosopher

Well-Known Member
  • Oct 31, 2022
  • #6,868
Apparently SISU and Ashley in on the mix.
 

Bugsy

Well-Known Member
  • Oct 31, 2022
  • #6,869
IMissMAF said:

ooooof
Click to expand...

At least four credible interested parties circling in event of administration. CCFC owners Sisu ARE one of them according to multiple contacts. NEC also still interested. As is Mike Ashley...
 
Reactions: stupot07, Sick Boy, TomRad85 and 1 other person

Sky Blue Pete

Well-Known Member
  • Oct 31, 2022
  • #6,870
IMissMAF said:

ooooof
Click to expand...
No chance of any solution really. What would admin accept
 

The Philosopher

Well-Known Member
  • Oct 31, 2022
  • #6,871
IMissMAF said:

ooooof
Click to expand...
So when I’m going on about debt being attached and the potential that SISU attaching the potential Legal’s on…..
 

lord_garrincha

Well-Known Member
  • Oct 31, 2022
  • #6,872
IMissMAF said:

ooooof
Click to expand...
The Compass sums are extremely significant, I'm told... Equivalent to what they charge for a large round of lagers & hot dogs!
 
Reactions: stupot07, robbiethemole, clint van damme and 4 others

MAFF

Well-Known Member
  • Oct 31, 2022
  • #6,873

Oh my word that’s Mike Ashley’s theme music!
 
Reactions: duffer, Brighton Sky Blue, Sky Blue Pete and 2 others

The Philosopher

Well-Known Member
  • Oct 31, 2022
  • #6,874
Sky Blue Pete said:
No chance of any solution really. What would admin accept
Click to expand...
As I’ve said. It’s unlikely it’ll be sold as a going concern before deadline.

Next level is admin but the debt is secured via bonds and the lease has covenants which might give SISU legal angle.

After that is liquidation and the question is if the lease reverts to CCC
 
Reactions: junglej13 and Sky Blue Pete

slowpoke

Well-Known Member
  • Oct 31, 2022
  • #6,875
gazza said:
What time we expecting to find out where we playing tomorrow night?
Click to expand...

This afternoon according to cwr
 
Reactions: Sky Blue Pete

torchomatic

Well-Known Member
  • Oct 31, 2022
  • #6,876
 
Reactions: wingy, duffer and Sky Blue Pete

Skyblueweeman

Well-Known Member
  • Oct 31, 2022
  • #6,877
IMissMAF said:

ooooof
Click to expand...

So the Parasites literally spent no money on the bonds, no money on upkeep of their new home, not enough money to HMRC, not enough money to their suppliers.

So all they spent their money on was the rugby side of things and they failed to achieve anything? Wow.

Oh, and flags. They bought lots of flags. That'll explain it.
 
Reactions: ccfcchris, chickentikkamasala, stupot07 and 16 others

Sky Blue Pete

Well-Known Member
  • Oct 31, 2022
  • #6,878
Bugsy said:
At least four credible interested parties circling in event of administration. CCFC owners Sisu ARE one of them according to multiple contacts. NEC also still interested. As is Mike Ashley...
Click to expand...
Where from?
 

The Philosopher

Well-Known Member
  • Oct 31, 2022
  • #6,879
lord_garrincha said:
The Compass sums are extremely significant, I'm told... Equivalent to what they charge for a large round of lagers & hot dogs!
Click to expand...
And secured against the leasehold - checked the other day. Didn’t know amounts.

My £80m absolute top line guess might be less laughable now.
 
D

Deleted member 5849

Guest
  • Oct 31, 2022
  • #6,880
Sky Blue Pete said:
Where from?
Click to expand...

 
Reactions: torchomatic and Sky Blue Pete

Skyblueweeman

Well-Known Member
  • Oct 31, 2022
  • #6,881
W@$ps literally loaded all their debt onto the stadium so they could resurrect so much easier.

W@nkers.
 
Reactions: djr8369, SBQuin, Samo and 3 others

Esoterica

Well-Known Member
  • Oct 31, 2022
  • #6,882
Just been told that the current cash flow issues at the club are down to us having to lend cash to ACL to pay for the industrial cleaning of the changing room toilets after the weekend game.
 
Reactions: CCFCSteve, wal3590 and Sky Blue Pete

Sky Blue Pete

Well-Known Member
  • Oct 31, 2022
  • #6,883
Sky Blue Pete said:
Where from?
Click to expand...
Aged well Pete lol sorry bugsy
 

SHUNT31

Well-Known Member
  • Oct 31, 2022
  • #6,884
Mike Ashley will only want the stadium to give himself leverage to buy the football club in my opinion.
 

Sky Blue Pete

Well-Known Member
  • Oct 31, 2022
  • #6,885
SHUNT31 said:
Mike Ashley will only want the stadium to give himself leverage to buy the football club in my opinion.
Click to expand...
Interesting
 
N

napolimp

Well-Known Member
  • Oct 31, 2022
  • #6,886
If purchase is made in administration, what's the process with regards to bonds? Do the bondholders have to be paid? Does the purchaser take on all debt? Could the bondholders be shafted? And would it be the same with Delaware and Compass?

Basically, is there a situation where a buyer could pay say 20 mil, and not take on any of the debt?
 

Skyblueweeman

Well-Known Member
  • Oct 31, 2022
  • #6,887
The cynic in me says any Sisu offer will be derisory so they can have a pop at the Council further down the line. I think we're conditioned to think like that now.

Hoping that relations have thawed somewhat and that's not the case.
 

Skyblueweeman

Well-Known Member
  • Oct 31, 2022
  • #6,888
Also, am I right in thinking that as there's apparently 4 interested buyers, the threat of liquidation is much slimmer now?
 

Nick

Administrator
  • Oct 31, 2022
  • #6,889
Wait, does that mean they spent £13m on the repairs but didn't pay OR it means it needs £13m still?
 
Reactions: Sky Blue Pete

Sky Blue Pete

Well-Known Member
  • Oct 31, 2022
  • #6,890
Skyblueweeman said:
Also, am I right in thinking that as there's apparently 4 interested buyers, the threat of liquidation is much slimmer now?
Click to expand...
Won’t the offer be a percentage of the debt owed to the debtors??
 

Joy Division

Well-Known Member
  • Oct 31, 2022
  • #6,891
Nick said:
Wait, does that mean they spent £13m on the repairs but didn't pay OR it means it needs £13m still?
Click to expand...

Still needs the repairs
 
Reactions: Nick

Nick

Administrator
  • Oct 31, 2022
  • #6,892
Mike Ashley is a positive sign isn't it? Why would he want the stadium without the football club?
 
Reactions: GaryMabbuttsLeftKnee, Skyblueweeman and Evo1883

lord_garrincha

Well-Known Member
  • Oct 31, 2022
  • #6,893
Nick said:
Wait, does that mean they spent £13m on the repairs but didn't pay OR it means it needs £13m still?
Click to expand...
I don't think 13p has been spent on the stadium since the QPR game!
 

MusicDating

Euro 2016 Prediction League Champion!!
  • Oct 31, 2022
  • #6,894
Nick said:
Wait, does that mean they spent £13m on the repairs but didn't pay OR it means it needs £13m still?
Click to expand...
Assume it needs £13m of repairs for (made up) valuation purposes.

Maybe they should have spent the £5m grant on that rather than a new porch.
 
Reactions: robbiethemole and Bertola

Nick

Administrator
  • Oct 31, 2022
  • #6,895
Joy Division said:
Still needs the repairs
Click to expand...

So that's probably why they couldn't get any finance on it?
 
Reactions: Joy Division and MusicDating
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