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Wasps going into admin & the impact on CCFC (6 Viewers)

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

wingy

Well-Known Member
  • Oct 31, 2022
  • #7,386
ceetee said:
Ashley's helicopter just flew over
Click to expand...
It did take off about an hour after they announced the game was on.
 

Gynnsthetonic

Well-Known Member
  • Oct 31, 2022
  • #7,387
rexo87 said:
Turner reporting 2 bids accepted 1 of which is NEC. Not sure how much I believe him though. Also pretty dismissive of Sisu in the article

Sent from my SM-G991B using Tapatalk
Click to expand...
Turner knows fuck all same as Dawkins, about time that Turner left the cet and got a proper job
 
Reactions: skybluepm2

chiefdave

Well-Known Member
  • Oct 31, 2022
  • #7,388
SHUNT31 said:
They would probably scupper the deal with CBS and rename the ground the NEC Arena or something similar. Whilst this is not particularly an issue, there is a clause in the sponsorship deal that the seats remain Sky Blue. That guarantee would be also be gone.
Click to expand...
Why would the NEC, who have all their venues named after sponsors, not want a sponsor for the CBS? What colour do you think they are going to change the seats to?
 
Reactions: duffer

ceetee

Well-Known Member
  • Oct 31, 2022
  • #7,389
wingy said:
It did take off about an hour after they announced the game was on.
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Came up from Woking and disappeared near Princethorpe so I guess the pilot was coming home. Does Ashley live near Woking.
 

Gynnsthetonic

Well-Known Member
  • Oct 31, 2022
  • #7,390
Hope it is Ashley and he's bought the club too. The club needs a fresh start, I can see Hoffman having a role at the club if Ashley is successful
 
Reactions: PUSB-We_are_going_up
S

skyblu3sk

Well-Known Member
  • Oct 31, 2022
  • #7,391
Thought a week or so ago pre-pack makes the most sense. Haven't changed my mind. Offer the bond holders xp in the £ and move on. I don't think the arena is worth the full bond holding as wasps have loaded it.
 

ceetee

Well-Known Member
  • Oct 31, 2022
  • #7,392
I think we need a spy to take photos of anybody sitting with Fisher tomorrow
 
W

wingy

Well-Known Member
  • Oct 31, 2022
  • #7,393
ceetee said:
Came up from Woking and disappeared near Princethorpe so I guess the pilot was coming home. Does Ashley live near Woking.
Click to expand...
Took off about 3-15 from around Coventry .
 

Earlsdon_Skyblue1

Well-Known Member
  • Oct 31, 2022
  • #7,394
shmmeee said:
Stop it you’ll make @Earlsdon_Skyblue1 cry
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I actually just got an email telling me I had been tagged in something. Talk about anti-climax.

Would have preferred Joy in a gladiators bikini.
 
Reactions: skybluepm2, Skyblueweeman, eastwoodsdustman and 2 others

Sky Blue Pete

Well-Known Member
  • Oct 31, 2022
  • #7,395
Liquid Gold said:
Can’t wait till they’re confirmed as being out of the city and we don’t have to hear a thing about them.
Click to expand...
What’s the odds Clive still talks about them on programmes about the sky blues. Always pisses me off
 
Reactions: djr8369 and Liquid Gold

chiefdave

Well-Known Member
  • Oct 31, 2022
  • #7,396
Liquid Gold said:
Looks to me like a pre-pack.

Chuck Richardson something to take it pre-admin and have the administrators offering % in the £ to creditors as only offer.

May see it as less hassle than going through the legal wrangling of the council obtaining ownership then attempting purchase from them.
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with the amount of debt that's being talked about you're only going to be talking a few pence in the pound unless someone has money to burn. Does it need the bondholders to accept any offer or are they just stuffed.

Seems a bit odd to pay millions today when you could wait a few days and not have to worry about the debt.

Knowing our luck we'll probably end up with that debt loaded against the club and everyone sold in January to pay for it.
 

PUSB-We_are_going_up

Well-Known Member
  • Oct 31, 2022
  • #7,397

Gordon set for record-breaking appearance plus Coventry stadium farce latest

Former Sunderland goalkeeper Craig Gordon is set for a record-breaking European appearance.
www.sunderlandecho.com

And they say we’re obsessed
 

Otis

Well-Known Member
  • Oct 31, 2022
  • #7,398
Liquid Gold said:
Looks to me like a pre-pack.

Chuck Richardson something to take it pre-admin and have the administrators offering % in the £ to creditors as only offer.

May see it as less hassle than going through the legal wrangling of the council obtaining ownership then attempting purchase from them.
Click to expand...
Who's Chuck Richardson? Is he the American involved in all this?
 
Reactions: duffer, Esoterica and Gynnsthetonic
B

Brighton Sky Blue

Well-Known Member
  • Oct 31, 2022
  • #7,399
chiefdave said:
with the amount of debt that's being talked about you're only going to be talking a few pence in the pound unless someone has money to burn. Does it need the bondholders to accept any offer or are they just stuffed.

Seems a bit odd to pay millions today when you could wait a few days and not have to worry about the debt.

Knowing our luck we'll probably end up with that debt loaded against the club and everyone sold in January to pay for it.
Click to expand...

It'd be simply the highest bid wins
 
C

CCFCSteve

Well-Known Member
  • Oct 31, 2022
  • #7,400
chiefdave said:
with the amount of debt that's being talked about you're only going to be talking a few pence in the pound unless someone has money to burn. Does it need the bondholders to accept any offer or are they just stuffed.

Seems a bit odd to pay millions today when you could wait a few days and not have to worry about the debt.

Knowing our luck we'll probably end up with that debt loaded against the club and everyone sold in January to pay for it.
Click to expand...

If it’s a pre pack administration sale, which Id imagine is the most likely scenario, an offer is made, accepted by the the company/proposed administrators and sale contract drafted, however, the deal would be completed by the administrators on appointment. The proceeds would then be distributed to the creditors, secured first ie bondholders (pence in the pound)
 

shepardo01

Well-Known Member
  • Oct 31, 2022
  • #7,401
rexo87 said:
Turner reporting 2 bids accepted 1 of which is NEC. Not sure how much I believe him though. Also pretty dismissive of Sisu in the article

Sent from my SM-G991B using Tapatalk
Click to expand...
Is this going to be the Councils parting shot isnt it ....
Actual real investors, with money putting an offer on the table (with SISU).......
But the council choose the NEC, because they "feel it is the best deal for the arena"
 

shepardo01

Well-Known Member
  • Oct 31, 2022
  • #7,402
HuckerbyDublinWhelan said:
That NEC bid would be a disaster of epic proportions
Click to expand...
Step forward CCC to accept the bid!!
 
Reactions: PUSB-We_are_going_up, Sky Blue Pete and I_Saw_Shaw_Score

MalcSB

Well-Known Member
  • Oct 31, 2022
  • #7,403
rexo87 said:
Turner reporting 2 bids accepted 1 of which is NEC. Not sure how much I believe him though. Also pretty dismissive of Sisu in the article

Sent from my SM-G991B using Tapatalk
Click to expand...
It says two bids received, not accepted.
 
Reactions: torchomatic and Skyblueweeman

fernandopartridge

Well-Known Member
  • Oct 31, 2022
  • #7,404
Don't think the NEC would be terrible by any means, they might look to repackage the club's sub lease anyway with their focus on the exhibition hall.

Sent from my SM-G935F using Tapatalk
 
Reactions: Nick

shepardo01

Well-Known Member
  • Oct 31, 2022
  • #7,405
Brighton Sky Blue said:
It'd be simply the highest bid wins
Click to expand...
In this process, do others know bids? Can bids be leaked to others so they can go one up??....
 

Telfer85

Well-Known Member
  • Oct 31, 2022
  • #7,406
shepardo01 said:
Step forward CCC to accept the bid!!
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Would ccc have any say? It’s essentially wasps isn’t it that would accept an offer pre admin unless I’m missing something?
 

hutch1972

Well-Known Member
  • Oct 31, 2022
  • #7,407
covcity4life said:
You think they would have zero interest in ccfc? Just want us as tenants?
Click to expand...
That would be my take. Hope I'm wrong though.
 
Reactions: covcity4life
B

Brighton Sky Blue

Well-Known Member
  • Oct 31, 2022
  • #7,408
shepardo01 said:
In this process, do others know bids? Can bids be leaked to others so they can go one up??....
Click to expand...

I imagine similar to a house sale you play off bidders against each other to drum up the price-but in this case with a tight deadline to meet for the sale.
 
Reactions: shepardo01

shepardo01

Well-Known Member
  • Oct 31, 2022
  • #7,409
Telfer85 said:
Would ccc have any say? It’s essentially wasps isn’t it that would accept an offer pre admin unless I’m missing something?
Click to expand...
Wasps/council/acl... in this instance, all three have fingers in this ACL pie... (I think)
 

shmmeee

Well-Known Member
  • Oct 31, 2022
  • #7,410
shepardo01 said:
Step forward CCC to accept the bid!!
Click to expand...

Isnt it Wasps/the admin who has to accept the bid? Council have only ever talked about being involved if the lease reverts AFAIK.
 

skyblueeyesrevisited

Well-Known Member
  • Oct 31, 2022
  • #7,411
Blackhawk down
 
Reactions: wingy

Nick

Administrator
  • Oct 31, 2022
  • #7,412
shmmeee said:
Isnt it Wasps/the admin who has to accept the bid? Council have only ever talked about being involved if the lease reverts AFAIK.
Click to expand...
The council are very much involved though.
 
Reactions: shepardo01

chiefdave

Well-Known Member
  • Oct 31, 2022
  • #7,413
CCFCSteve said:
If it’s a pre pack administration sale, which Id imagine is the most likely scenario, an offer is made, accepted by the the company/proposed administrators and sale contract drafted, however, the deal would be completed by the administrators on appointment. The proceeds would then be distributed to the creditors, secured first ie bondholders (pence in the pound)
Click to expand...
Why was everyone saying liquidation was going to happen to get rid of the debt? If you can just fuck the bondholders off along with the rest of the debt in a pre-pack admin what would be the benefit of liquidation?

The bondholders are getting royally screwed aren't they? Think a good chunk of them are wasps supporters
 

Telfer85

Well-Known Member
  • Oct 31, 2022
  • #7,414
shepardo01 said:
Wasps/council/acl... in this instance, all three have fingers in this ACL pie... (I think)
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Ah ok yeh I’m not sure either. I thought wasps basically were acl after ccc sold them the lease and ccc were no longer involved.
Can anyone confirm who would have to accept this bid out of admin? To be honest I’d be more worried if it was just wasps as they’d prob sell to NEC.
 

shmmeee

Well-Known Member
  • Oct 31, 2022
  • #7,415
Nick said:
The council are very much involved though.
Click to expand...

Like actually or as in “the West Midlands Illuminati”?
 
Reactions: eastwoodsdustman and Evo1883

Nick

Administrator
  • Oct 31, 2022
  • #7,416
shmmeee said:
Like actually or as in “the West Midlands Illuminati”?
Click to expand...
Every statement from ccfc says they are working with ccc doesn't it?

Still, can pretend the council have absolutely no involvement at all.
 
D

Deleted member 5849

Guest
  • Oct 31, 2022
  • #7,417
shmmeee said:
Like actually or as in “the West Midlands Illuminati”?
Click to expand...
Twirling their collective moustache
 

Liquid Gold

Well-Known Member
  • Oct 31, 2022
  • #7,418
chiefdave said:
with the amount of debt that's being talked about you're only going to be talking a few pence in the pound unless someone has money to burn. Does it need the bondholders to accept any offer or are they just stuffed.

Seems a bit odd to pay millions today when you could wait a few days and not have to worry about the debt.

Knowing our luck we'll probably end up with that debt loaded against the club and everyone sold in January to pay for it.
Click to expand...
I think the answer is none of us really knows but if there are buds going in then some rich people see it as a better idea.

Mu only guess is liquidation, council ownership and subsequent rankings aren’t as simple as wiping the debt and moving on.

That or evil Derick is up so something. Don’t really see that atm though.
 

shmmeee

Well-Known Member
  • Oct 31, 2022
  • #7,419
Nick said:
Every statement from ccfc says they are working with ccc doesn't it?

Still, can pretend the council have absolutely no involvement at all.
Click to expand...

Yeah they’re the freeholders who it would revert to is ACL goes bust. That’s a whole different thing.

Derek Richardson is the only PSC listed on companies house. I dont thunk the council would have any say in who it was sold to?
 

hill83

Well-Known Member
  • Oct 31, 2022
  • #7,420
shmmeee said:
Like actually or as in “the West Midlands Illuminati”?
Click to expand...

 
Reactions: Evo1883 and Brighton Sky Blue
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