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Wasps going into admin & the impact on CCFC (7 Viewers)

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

Well-Known Member
  • Nov 16, 2022
  • #12,776
Would that mean Richardson is paid off and has nothing else to do with the stadium. Would the 40% effectively pay him back what he's put in and he walks away for good
 

shepardo01

Well-Known Member
  • Nov 16, 2022
  • #12,777
Grendel said:
I don’t see why we would care what money goes where
Click to expand...
Just adds a bit more outrage to the Derek/Council/"Big" Mike three-way secret shaft-a-thon.......
 
Reactions: robbiethemole, Sky Blue Pete and Jcap
R

rexo87

Well-Known Member
  • Nov 16, 2022
  • #12,778
To think that CCFC paid to keep the stadium running for 2 weeks is ridiculous. They paid for maybe 1 game to go ahead and then the money Ashley paid to be preferred bidder was used to keep it going surely. And this wasn’t done out of the kindness of his heart, if he hadn’t it looked like ACL was going into liquidation and he wouldn’t have had my preferred bidder time for due diligence


Sent from my iPad using Tapatalk
 

The Philosopher

Well-Known Member
  • Nov 16, 2022
  • #12,779
Nick said:
How can it if the deal is already agreed for when it drops into admin?
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If the exclusivity expires and a hugely better offer comes on the table, Richardson would be in a pickle if it was turned down and he himself ended up in a better position (if the business then goes pop)

HMRC wouldn’t like that.
 

Nick

Administrator
  • Nov 16, 2022
  • #12,780
Gynnsthetonic said:
Would that mean Richardson is paid off and has nothing else to do with the stadium. Would the 40% effectively pay him back what he's put in and he walks away for good
Click to expand...

It depends what the 40% means....
 

Johnnythespider

Well-Known Member
  • Nov 16, 2022
  • #12,781
Is it possible that sisu are so quiet as Ashley has already done a deal to buy the club ? NDA's all round
 
Reactions: Gynnsthetonic

Nick

Administrator
  • Nov 16, 2022
  • #12,782
The Philosopher said:
If the exclusivity expires and a hugely better offer comes on the table, Richardson would be in a pickle if it was turned down and he himself ended up in a better position (if the business then goes pop)

HMRC wouldn’t like that.
Click to expand...

Let's face it, the charges will be removed.
 
Reactions: djr8369 and The Philosopher

tisza

Well-Known Member
  • Nov 16, 2022
  • #12,783
Jcap said:
View attachment 27260

well this is certainly news to me - no idea how true or not.
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Just don't see it. There's not enough "meat on the bone" for Ashley to fork out nearly 17 million for just 60%. Plus there's the investment needed to move things on .
Or maybe if they convert monies owed to him into share equity??
But Richardson staying in involved if the bondholders don't get their money would be a bad look for all parties.
 
O

oldfiver

Well-Known Member
  • Nov 16, 2022
  • #12,784
shmmeee said:
And the real mystery: why has the tiny scoreboard on the posh stand not been turned on since Wasps went into admin?
Click to expand...

They are holding back time until they have to face the Bondholders?
 
Reactions: shmmeee

jordan210

Well-Known Member
  • Nov 16, 2022
  • #12,785
Im calling it now. What's the bet if Ashley gets his hands on it. A load of grants for regeneration in that arena become available by CCC
 

hill83

Well-Known Member
  • Nov 16, 2022
  • #12,786
slowpoke said:
I think you will be disappointed
Click to expand...

You said this to me last week and didn’t explain what you meant.
 
Reactions: TomRad85 and Otis
J

Jcap

Well-Known Member
  • Nov 16, 2022
  • #12,787
tisza said:
Just don't see it. There's not enough "meat on the bone" for Ashley to fork out nearly 17 million for just 60%. Plus there's the investment needed to move things on .
Or maybe if they convert monies owed to him into share equity??
But Richardson staying in involved if the bondholders don't get their money would be a bad look for all parties.
Click to expand...
I took it to mean 40% of the bid money not him retaining a share of the stadium ownership.
 

MalcSB

Well-Known Member
  • Nov 16, 2022
  • #12,788
Nick said:
£1.2m in losses to keep it running for 2 weeks?
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More likely the administrators fees.
 
Reactions: Deleted member 5849
O

oldfiver

Well-Known Member
  • Nov 16, 2022
  • #12,789
jordan210 said:
Im calling it now. What's the bet if Ashley gets his hands on it. A load of grants for regeneration in that arena become available by CCC
Click to expand...

I am sure that has ben discussed informally with Reeves

It was mentioned there is availability to build the hotel - the one WPS applied for funding from WMCA?
 
D

Deleted member 5849

Guest
  • Nov 16, 2022
  • #12,790
Nick said:
Let's face it, the charges will be removed.
Click to expand...
Yup, the only real question is if Ashley follows through with his purchase or not.
 
Reactions: Hiraeth

The Philosopher

Well-Known Member
  • Nov 16, 2022
  • #12,791
tisza said:
Just don't see it. There's not enough "meat on the bone" for Ashley to fork out nearly 17 million for just 60%. Plus there's the investment needed to move things on .
Or maybe if they convert monies owed to him into share equity??
But Richardson staying in involved if the bondholders don't get their money would be a bad look for all parties.
Click to expand...
That equates to about £30m for 100% of stadium and other bits and bobs valued at £50m plus?

Ingnoring the BS dilapidations figure, is that too high?
 

Nick

Administrator
  • Nov 16, 2022
  • #12,792
tisza said:
But Richardson staying in involved if the bondholders don't get their money would be a bad look for all parties.
Click to expand...

I'm not sure they are that bothered what the bondholders get.

It could potentially be a less cash up front deal and then some shares?
 

Sky Blue Pete

Well-Known Member
  • Nov 16, 2022
  • #12,793
The Philosopher said:
Is Richardon / Wasp Group somehow the biggest creditor?
Click to expand...
Could be
 

Skyblueweeman

Well-Known Member
  • Nov 16, 2022
  • #12,794
Nick said:
It depends what the 40% means....
Click to expand...

If you have 10 Smarties, and move 4 of those to one side, that's 40% of Smarties to one side mate.

Hope that helps.
 
Reactions: TwistAndShoutCCFC1987, eastwoodsdustman, SkyBlueSam01 and 11 others

slowpoke

Well-Known Member
  • Nov 16, 2022
  • #12,795
Johnnythespider said:
Is it possible that sisu are so quiet as Ashley has already done a deal to buy the club ? NDA's all round
Click to expand...
Hopefully
 
W

wingy

Well-Known Member
  • Nov 16, 2022
  • #12,796
jordan210 said:
Im calling it now. What's the bet if Ashley gets his hands on it. A load of grants for regeneration in that arena become available by CCC
Click to expand...
I wouldn't be surprised or necessarily be angered by this as long as that would have been available unless you mean it basically covers the value of this deal for him to progress foreward from there

I still refer to Simon Jordan remarks about turning the ground around,a new one being built , where and who let him in on that

Must be some outline plan somewhere,?
 

jordan210

Well-Known Member
  • Nov 16, 2022
  • #12,797
oldfiver said:
I am sure that has ben discussed informally with Reeves

It was mentioned there is availability to build the hotel - the one WPS applied for funding from WMCA?
Click to expand...

The way Reeves mentioned his 4 pillars that a buyer needs to meet. One being regen. Sounds ike CCC have a plan for the area.

But id not be surprised if some of the grants are for things at the arena again. More waste of public money on a privately owed venue
 

slowpoke

Well-Known Member
  • Nov 16, 2022
  • #12,798
jordan210 said:
Im calling it now. What's the bet if Ashley gets his hands on it. A load of grants for regeneration in that arena become available by CCC
Click to expand...
That’s what councils do
 

jordan210

Well-Known Member
  • Nov 16, 2022
  • #12,799
slowpoke said:
That’s what councils do
Click to expand...

Yeah like rejecting a Hotel plan form a private company and granting one for their mates.
 

tisza

Well-Known Member
  • Nov 16, 2022
  • #12,800
Is the Ashley interest a private one, Fraser group or another Ashley business entity?
 
Last edited: Nov 16, 2022

slowpoke

Well-Known Member
  • Nov 16, 2022
  • #12,801
jordan210 said:
The way Reeves mentioned his 4 pillars that a buyer needs to meet. One being regen. Sounds ike CCC have a plan for the area.

But id not be surprised if some of the grants are for things at the arena again. More waste of public money on a privately owed venue
Click to expand...
There were ideas and plans for that area when the ground was first thought of years ago.
 
W

wingy

Well-Known Member
  • Nov 16, 2022
  • #12,802
tisza said:
Is the Ashley interest a private one, house of Fraser or another Ashley business entity?
Click to expand...
Supposedly Fraser's he has ,/uses a vehicle called Mesh for his personal stuff I think.
 

Sky Blue Pete

Well-Known Member
  • Nov 16, 2022
  • #12,803
Johnnythespider said:
Is it possible that sisu are so quiet as Ashley has already done a deal to buy the club ? NDA's all round
Click to expand...
Possible but absolutely no rumours to say that’s the case
 
W

wingy

Well-Known Member
  • Nov 16, 2022
  • #12,804
Is this more often what Pete refers to when Sisu say they don't what they were bidding on/for ?
 

GIMOC

Well-Known Member
  • Nov 16, 2022
  • #12,805
Sky Blue Pete said:
Be good to see the timeline from ccfc making their payment and feeling there may be more on offer than a few home games to Ashley paying an exclusivity amount and keeping acl out of admin. Think both can be true
Click to expand...


sorry Pete. Didn’t see this.

from my understanding and what I was told. even before Wasps went into admin, Ashley was keeping a close eye on events. It wasn’t an overnight decision.

Hoffman has been in dialogue with sisu (well Joy directly) I’m not saying Hoffman is the middle man in all this but I know he has been in dialogue with Joy since September.

My understanding, sisu would be open to offers at the right price. I feel CCFC ensured the Blackpool game went ahead knowing Ashley would then be the person to invest short term following weeks. Once we know tomorrow that Ashley is the preferred bidder I can see events escalating at a fast pace.
 
Reactions: Deleted member 5849, Hiraeth, djr8369 and 6 others

shepardo01

Well-Known Member
  • Nov 16, 2022
  • #12,806
wingy said:
Supposedly Fraser's he has ,/uses a vehicle called Mesh for his personal stuff I think.
Click to expand...
Ahhhhhh. Interesting. Not mesh, It's MASH holdings.
Interesting to see where this goes... is there a difference or is Fraser part of MASH holdings?
 
W

wingy

Well-Known Member
  • Nov 16, 2022
  • #12,807
Sky Blue Pete said:
Be good to see the timeline from ccfc making their payment and feeling there may be more on offer than a few home games to Ashley paying an exclusivity amount and keeping acl out of admin. Think both can be true
Click to expand...
A timeline would be very handy.
 

jordan210

Well-Known Member
  • Nov 16, 2022
  • #12,808
remember Ashely was looking to refinance the bonds so he would have spoken to Richardson and wasps way before them going in to Admin.
 

skybluetony176

Well-Known Member
  • Nov 16, 2022
  • #12,809
Sky Blue Pete said:
Possible but absolutely no rumours to say that’s the case
Click to expand...
Could just mean the NDA’s are holding up.

Using logic why would MA be interested in ACL without owning CCFC as well? He can’t be buying it to buy wasps and have us sitting there as tenants. Wasps can’t support ACL and ACL can’t support Wasps, the only reason ACL turns a profit as far as I can see is because CCFC pay rent and bring sizeable footfall to the arena meaning regular income. It’s a meagre profit too. ACL would be operating at loss if it wasn’t for CCFC. I might be wrong but ACL only makes sense with CCFC combined.
 

Covkid1968#

Well-Known Member
  • Nov 16, 2022
  • #12,810
GIMOC said:
sorry Pete. Didn’t see this.

from my understanding and what I was told. even before Wasps went into admin, Ashley was keeping a close eye on events. It wasn’t an overnight decision.

Hoffman has been in dialogue with sisu (well Joy directly) I’m not saying Hoffman is the middle man in all this but I know he has been in dialogue with Joy since September.

My understanding, sisu would be open to offers at the right price. I feel CCFC ensured the Blackpool game went ahead knowing Ashley would then be the person to invest short term following weeks. Once we know tomorrow that Ashley is the preferred bidder I can see events escalating at a fast pace.
Click to expand...
By fast pace you mean arena then club by xmas. The Hoffmeister said it would all be done and dusted by Crimbo so maybe he is the man in the middle here
 
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