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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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Nick

Administrator
  • Nov 5, 2022
  • #10,046
It says that ACL is already profitable?
 
J

Jcap

Well-Known Member
  • Nov 5, 2022
  • #10,047
If you take out the rugby and the bond then it may well not be far off at least washing it’s face?
 

Otis

Well-Known Member
  • Nov 5, 2022
  • #10,048
Anyway, who were the numpties who were complaining about chocolate talk being a distraction from the Mike Ashley association with the club?


 
Reactions: Peter Billing Eyes

Nuskyblue

Well-Known Member
  • Nov 5, 2022
  • #10,049
Otis said:
Anyway, who were the numpties who were complaining about chocolate talk being a distraction from the Mike Ashley association with the club?

View attachment 27052
View attachment 27053
Click to expand...
Ashley walnut whirls...

No thanks
 
S

skyblu3sk

Well-Known Member
  • Nov 5, 2022
  • #10,050
Astute said:
I know we're Coventry City and we expect everything to go wrong, but.....

I know I'm not far away from being alone on here that Ashley is after both ground and club. But we need to look at the facts.

ACL in administration. Full price wanted won't be paid. Bondholders will take a haircut. Most if not all present Bondholders will come out of this shitstorm making a profit overall if say 25m is offered.

Player value 15m +? 35m to SISU plus a bit more when we reach the Prem? So for an initial investment of approximately 60m he would purchase a lot of real estate that would be a single promotion away from being paid for and a massive profit on top. Free Sports Direct advertising all over the ground. And when the current deal with CBS is over it then becomes the Sports Direct Arena?

SISU? Their long term plan of getting the arena on the cheap would be gone. Time to cash out any profit they can? If we took another relegation they would never get another decent offer. And they don't seem willing to put any more money in. As Fisher said being in the Championship isn't financially viable. And for once they have gone very quiet. We haven't even heard of us building our own new stadium like we normally do when stadium ownership comes into the spotlight.

CCC? They would be delighted to bring in someone who could take over the arena and dispose of SISU. Plus make other investments worth countless millions to the local economy.

Yes those we have that are ITK only know what they hear. They don't hear everything.

All I would ask would be for Robins to be given a few quid to see what he could do. 9 points off 6th with 3 games in hand. 13 points off a very ordinary side in 2nd place we just beat with the same 3 games in hand. W4 D1 L1 in last 6 games.

And you say every other man before him trying to buy us. Has there ever been a serious bid for a decent amount previously? Someone who could afford to bring club and arena together and take the money out of the petty cash allowance? Someone who has experience on running a football club?
Click to expand...
I think Cbs will have an option to pull out earlier potentially opening up for Sports Direct to happen earlier than at the end of their contract.
 

Esoterica

Well-Known Member
  • Nov 5, 2022
  • #10,051
Nuskyblue said:
Toché
Click to expand...
Not tried the Ferrero Toché yet, are they nice?
 

pusbccfc

Well-Known Member
  • Nov 5, 2022
  • #10,052
Nick said:
It says that ACL is already profitable?
Click to expand...

ACL have said the stadium is a profitable standalone business.
 

Grendel

Well-Known Member
  • Nov 5, 2022
  • #10,053
Astute said:
I know we're Coventry City and we expect everything to go wrong, but.....

I know I'm not far away from being alone on here that Ashley is after both ground and club. But we need to look at the facts.

ACL in administration. Full price wanted won't be paid. Bondholders will take a haircut. Most if not all present Bondholders will come out of this shitstorm making a profit overall if say 25m is offered.

Player value 15m +? 35m to SISU plus a bit more when we reach the Prem? So for an initial investment of approximately 60m he would purchase a lot of real estate that would be a single promotion away from being paid for and a massive profit on top. Free Sports Direct advertising all over the ground. And when the current deal with CBS is over it then becomes the Sports Direct Arena?

SISU? Their long term plan of getting the arena on the cheap would be gone. Time to cash out any profit they can? If we took another relegation they would never get another decent offer. And they don't seem willing to put any more money in. As Fisher said being in the Championship isn't financially viable. And for once they have gone very quiet. We haven't even heard of us building our own new stadium like we normally do when stadium ownership comes into the spotlight.

CCC? They would be delighted to bring in someone who could take over the arena and dispose of SISU. Plus make other investments worth countless millions to the local economy.

Yes those we have that are ITK only know what they hear. They don't hear everything.

All I would ask would be for Robins to be given a few quid to see what he could do. 9 points off 6th with 3 games in hand. 13 points off a very ordinary side in 2nd place we just beat with the same 3 games in hand. W4 D1 L1 in last 6 games.

And you say every other man before him trying to buy us. Has there ever been a serious bid for a decent amount previously? Someone who could afford to bring club and arena together and take the money out of the petty cash allowance? Someone who has experience on running a football club?
Click to expand...

Cant see Ashley buying the lease for anything close to £25m - the valuation is driven down by the £13m dilapidation requirements

There is some talk of a separate refinance to them which again is on his terms as the preferred bidder. Also they have security over assets with wasps holdings so the trustee can claim secured assets there

Ashley can take considerable time to purchase the football club. In the meantime he gets assured revenue through the clubs sub lease. He would I’m sure not be adverse to wasps playing as well. He will look to maximise revenue through the stadium initially. He can wait years to buy the club if he wants and can wait until it’s value is driven down - he never buys things without looking at profit
 
Reactions: djr8369, Sick Boy, colin101 and 3 others
D

Deleted member 5849

Guest
  • Nov 5, 2022
  • #10,054
Grendel said:
Ashley can take considerable time to purchase the football club. In the meantime he gets assured revenue through the clubs sub lease. He would I’m sure not be adverse to wasps playing as well. He will look to maximise revenue through the stadium initially. He can wait years to buy the club if he wants and can wait until it’s value is driven down - he never buys things without looking at profit
Click to expand...
Quite. He doesn't even have to bother with the repairs really, if they're not dangerous, either does he? If we're moving out in eight years, and Wasps clearly don't need a ground as big as that, then he may as well wait and see how it all plays out and take the income while he can, mightn't he.
 
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SHUNT31

Well-Known Member
  • Nov 5, 2022
  • #10,055
Fucking hell



 
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Grendel

Well-Known Member
  • Nov 5, 2022
  • #10,056
SHUNT31 said:
Fucking hell



Click to expand...

Probably because he’d have to actually pay for it
 
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alexccfc99

Well-Known Member
  • Nov 5, 2022
  • #10,057
SHUNT31 said:
Fucking hell



Click to expand...

He is petrified at the thought of losing his access all areas lanyard and access to the players on matchday
 
Reactions: torchomatic
D

Deleted member 5849

Guest
  • Nov 5, 2022
  • #10,058
SHUNT31 said:
Fucking hell



Click to expand...
Suddenly I'm in the pro Ashley camp...
 
Reactions: Sick Boy, MAFF, Saddlebrains and 5 others

Liquid Gold

Well-Known Member
  • Nov 5, 2022
  • #10,059
Another day gone by with sisu radio silence and no sob story.
 
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clint van damme

Well-Known Member
  • Nov 5, 2022
  • #10,060
SHUNT31 said:
Fucking hell



Click to expand...

I'm not Ashley's biggest fan but he'd clearly be an improvement on the current mob.
 
Reactions: Astute, Bernie Rhodes Nose, MusicDating and 3 others

Telfer85

Well-Known Member
  • Nov 5, 2022
  • #10,061
Liquid Gold said:
Another day gone by with sisu radio silence and no sob story.
Click to expand...
I can’t see em making any statement until it’s done and dusted. If they come out and slag everyone off then Ashley pulls out for whatever reason that will do em no favours. I could be wrong but once the sale is confirmed I think it will come out then.
 

jordan210

Well-Known Member
  • Nov 5, 2022
  • #10,062
 

Grendel

Well-Known Member
  • Nov 5, 2022
  • #10,063
 
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Terry_dactyl

Well-Known Member
  • Nov 5, 2022
  • #10,064
Grendel said:
Click to expand...
Max will clearly be the first signing of the Ashley era…just to appease the fan!
 
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Sky Blue Pete

Well-Known Member
  • Nov 5, 2022
  • #10,065
Brylowes said:
Can you not see how his acquisition of the Arena will considerably change the direction of any negotiations for all concerned parties, not least SISU.
If he gets the Arena, they are finished here IMHO.
Click to expand...
Maybe so are ccfc
 

RegTheDonk

Well-Known Member
  • Nov 5, 2022
  • #10,066
Good luck negotiating with SISU to buy us on the cheap, he will soon learn like every other man before him trying to buy us
Click to expand...
He'll be demading a Kings purse when our lease runs out. Of course, we'll be in the Warwick stadium by then
 
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alexccfc99

Well-Known Member
  • Nov 5, 2022
  • #10,067
jordan210 said:
Click to expand...

This would be the worry in the back of my mind, SISU have done everything to cling onto power for years why would they change their stance now and sell up on the cheap
 
Reactions: Brylowes

clint van damme

Well-Known Member
  • Nov 5, 2022
  • #10,068
jordan210 said:
Click to expand...

The difference is she could obviously see the writing on the wall for wasps, that isn't going to be the case for Ashley.
If she decides to wait for him to get into financial difficulty she'll be waiting a long time.
 
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Sky Blue Pete

Well-Known Member
  • Nov 5, 2022
  • #10,069
Forefront of my mind. Also out the fring pan into the fire. Wasps couldn’t win their appeal could they? Surely not
 

Grendel

Well-Known Member
  • Nov 5, 2022
  • #10,070
Sky Blue Pete said:
Forefront of my mind. Also out the fring pan into the fire. Wasps couldn’t win their appeal could they? Surely not
Click to expand...

What appeal?
 

RegTheDonk

Well-Known Member
  • Nov 5, 2022
  • #10,071
Sky Blue Pete said:
Forefront of my mind. Also out the fring pan into the fire. Wasps couldn’t win their appeal could they? Surely not
Click to expand...
Dunno how those appeals work Pete - is it just down to the RFL? If they get away with it, wonder how the other PL teams would feel, who are struggling but havent spunked money like Wasps have? I'd be doing my best to ensure it stayed at two less teams to spread the money around a bit thicker.
 

shmmeee

Well-Known Member
  • Nov 5, 2022
  • #10,072
Grendel said:
What appeal?
Click to expand...

The relegation one i assumr
 

oldskyblue58

CCFC Finance Director
  • Nov 5, 2022
  • #10,073
jordan210 said:
Click to expand...

Her leverage to move away ? The EFL are not going to just let her do it again without proper reason. Failing that its wait 8 years for the stadium fantasy to move the club.

Personally i think she will find it hard to play hard ball against someone who swims in the same pool and is arguably a bigger fish. If terms of lease kept to going to be hard to play hardball

She has stopped funding for the team already and I think we all expect star players to be sold so for the supporters what's going to change.

Think Gilbert over egging it. There is a risk but I don't see it as a major one. That tactic has sailed for Seppala.

The move to Birmingham and the little cup trip to Burton were not of seppalas creation apparently. So that leaves Northampton as the only time that was.
 
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W

wingy

Well-Known Member
  • Nov 5, 2022
  • #10,074
shmmeee said:
The relegation one i assumr
Click to expand...
Think that's automatic for missing more than two games.
Anything to do with the P shares .
 
Reactions: shmmeee

Kneeza

Well-Known Member
  • Nov 5, 2022
  • #10,075
RegTheDonk said:
Dunno how those appeals work Pete - is it just down to the RFL? If they get away with it, wonder how the other PL teams would feel, who are struggling but havent spunked money like Wasps have? I'd be doing my best to ensure it stayed at two less teams to spread the money around a bit thicker.
Click to expand...
If it's down to the RFL, they're really in the shit.
 
Reactions: RegTheDonk

tisza

Well-Known Member
  • Nov 5, 2022
  • #10,076
Sky Blue Pete said:
Forefront of my mind. Also out the fring pan into the fire. Wasps couldn’t win their appeal could they? Surely not
Click to expand...
Have they officially appealed? Not sure they've even announced a management structure yet.
 

ccfcchris

Well-Known Member
  • Nov 5, 2022
  • #10,077
I never thought I'd say it but I believe the noose is slowly tightening around SISU if they don't purchase the stadium.
 
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tisza

Well-Known Member
  • Nov 5, 2022
  • #10,078
oldskyblue58 said:
Her leverage to move away ? The EFL are not going to just let her do it again without proper reason. Failing that its wait 8 years for the stadium fantasy to move the club.

Personally i think she will find it hard to play hard ball against someone who swims in the same pool and is arguably a bigger fish. If terms of lease kept to going to be hard to play hardball

She has stopped funding for the team already and I think we all expect star players to be sold so for the supporters what's going to change.

Think Gilbert over egging it. There is a risk but I don't see it as a major one. That tactic has sailed for Seppala.

The move to Birmingham and the little cup trip to Burton were not of seppalas creation apparently. So that leaves Northampton as the only time that was.
Click to expand...
Agreed. SISU still trapped by their investment. Can't afford Championship football but in terms of value can't afford League 1 football. Won't be allowed to move again particularly if current lease doesn't change.
 
Reactions: oldskyblue58
B

Brighton Sky Blue

Well-Known Member
  • Nov 5, 2022
  • #10,079
alexccfc99 said:
This would be the worry in the back of my mind, SISU have done everything to cling onto power for years why would they change their stance now and sell up on the cheap
Click to expand...

I suppose the difference would be what Ashley considers ‘cheap’
 

Grendel

Well-Known Member
  • Nov 5, 2022
  • #10,080
tisza said:
Have they officially appealed? Not sure they've even announced a management structure yet.
Click to expand...

No I don’t think they have and it’s likely bond holders will claim the P Share as part of the assets to be resold
 
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