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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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jordan210

Well-Known Member
  • Nov 17, 2022
  • #13,126
 

Nick

Administrator
  • Nov 17, 2022
  • #13,127
Judging by that, it is literally only really the bondholders getting anything from it?
A couple of million left for the other creditors to share?
 

jordan210

Well-Known Member
  • Nov 17, 2022
  • #13,128
Nick said:
Judging by that, it is literally only really the bondholders getting anything from it?
A couple of million left for the other creditors to share?
Click to expand...

Wonder if that is the play to try and get the bond holders to agree. Screw everyone else and the bond holders. But they walk away with something...
 

duffer

Well-Known Member
  • Nov 17, 2022
  • #13,129
jordan210 said:
Wonder if that is the play to try and get the bond holders to agree. Screw everyone else and the bond holders. But they walk away with something...
Click to expand...

Does sound something like that. Strange that the bondholders, or at least some of them, went through all of the hassle of crowdfunding legal advice but then didn't challenge in court. We might know in a few, but if I was a betting man I'd put a fiver on MA winning this.
 

Nick

Administrator
  • Nov 17, 2022
  • #13,130
Posted on other thread

 
Reactions: skybluepm2 and Seb

jordan210

Well-Known Member
  • Nov 17, 2022
  • #13,131
duffer said:
Does sound something like that. Strange that the bondholders, or at least some of them, went through all of the hassle of crowdfunding legal advice but then didn't challenge in court. We might know in a few, but if I was a betting man I'd put a fiver on MA winning this.
Click to expand...

I wonder if who ever has a bigger amount of bonds threw weight around on it. Need someone on the bond Facebook group to see what the full message said
 

chiefdave

Well-Known Member
  • Nov 17, 2022
  • #13,132
Nick said:
If the company finances are so bad, you would think Richardson shouldn't get a sniff of any money from it.
Click to expand...
No way Richardson should get a penny unless the bondholders are paid back.
 
Reactions: jordan210, duffer and oldskyblue58

Mcbean

Well-Known Member
  • Nov 17, 2022
  • #13,133
Pretty clear then they are going into admin - that may be the only decision - then it’s down to the administrator which direction it takes
 

AFCCOVENTRY

Well-Known Member
  • Nov 17, 2022
  • #13,134
Are we in extra time?
 

The Philosopher

Well-Known Member
  • Nov 17, 2022
  • #13,135
chiefdave said:
No way Richardson should get a penny unless the bondholders are paid back.
Click to expand...
In full, and after the Revenue have.
 

Nick

Administrator
  • Nov 17, 2022
  • #13,136
AFCCOVENTRY said:
Are we in extra time?
Click to expand...

Doug has just 2 footed Ashley's lawyer.
Joy has been getting lessons from Wilson in how to time waste, she is currently lay on top of the lease paperwork.
 
Reactions: Deleted member 5849 and shepardo01
D

Dions Dong

Well-Known Member
  • Nov 17, 2022
  • #13,137
You just know that this will go against us and MA will be preferred.
Then we will have another years worth of legal judicial review challenges
 
S

skyblu3sk

Well-Known Member
  • Nov 17, 2022
  • #13,138
Looks like it's less cut and dry than hoped by MA at this stage! Could still go his way of course!
 

AFCCOVENTRY

Well-Known Member
  • Nov 17, 2022
  • #13,139
skyblu3sk said:
Looks like it's less cut and dry than hoped by MA at this stage! Could still go his way of course!
Click to expand...

That’s my thinking. Surely would have been a 2 min job. But who knows. Admittedly King has come late to the party.
 
S

skyblu3sk

Well-Known Member
  • Nov 17, 2022
  • #13,140
AFCCOVENTRY said:
That’s my thinking. Surely would have been a 2 min job. But who knows. Admittedly King has come late to the party.
Click to expand...
I'd have thought if it was just a judgement it would be done in minutes. Wonder if they are hearing further arguments...
 
Reactions: duffer

tisza

Well-Known Member
  • Nov 17, 2022
  • #13,141
AFCCOVENTRY said:
That’s my thinking. Surely would have been a 2 min job. But who knows. Admittedly King has come late to the party.
Click to expand...
Decision provisionally made before hearing after paperwork etc submitted. Hearing to see if anything exceptional needs decision to be changed.
 

tisza

Well-Known Member
  • Nov 17, 2022
  • #13,142
Come on ref blow the whistle. Is it a replay or penalty shoot out?
 

Nick

Administrator
  • Nov 17, 2022
  • #13,143
tisza said:
Come on ref blow the whistle. Is it a replay or penalty shoot out?
Click to expand...

Golden Goal.
 
D

Dions Dong

Well-Known Member
  • Nov 17, 2022
  • #13,144
MA has been preferred …not enough substance in the new CCFC bid apparently
 

GIMOC

Well-Known Member
  • Nov 17, 2022
  • #13,145
GIMOC said:
Get your sports direct clobber ready
Click to expand...

As I said on the 1st November. Ashley will be coming for the club now. All part of the plan.
 
Reactions: steve cooper, bulko and shepardo01

clint van damme

Well-Known Member
  • Nov 17, 2022
  • #13,146
Big fat Mike's Lonsdale army
 
D

Dions Dong

Well-Known Member
  • Nov 17, 2022
  • #13,147
GIMOC said:
As I said. Ashley will be coming for the club now
Click to expand...
or he could sell to King and make a 8 mill profit for doing sweet FA…Robert Jarni style
 
Reactions: bulko and duffer

GIMOC

Well-Known Member
  • Nov 17, 2022
  • #13,148
Dions Dong said:
or he could sell to King and make a 8 mill profit for doing sweet FA…Robert Jarni style
Click to expand...

if I’m honest, I can’t see it. Especially after sisu stunt last night.
 
D

Dions Dong

Well-Known Member
  • Nov 17, 2022
  • #13,149
GIMOC said:
if I’m honest, I can’t see it. Especially after sisu stunt last night.
Click to expand...
Yeah it was more tongue in cheek/hope more than anything
 

Flying Fokker

Well-Known Member
  • Nov 17, 2022
  • #13,150
This King guy, does he always do business like this? Is he fit and proper? What prevented him putting a bid in regardless of SISU? Ahh there we are. SISU all along. They held him back? It’s a strange way of doing business. There is a lot of bull flying around.

Supposing this guy has 85% of the business? That was a bit of a gamble for sepella et a, unless they genuinely sold?
 
Reactions: skybluepm2

Flying Fokker

Well-Known Member
  • Nov 17, 2022
  • #13,151
Dions Dong said:
or he could sell to King and make a 8 mill profit for doing sweet FA…Robert Jarni style
Click to expand...
Isn’t that small money? Ashley will want more than that.
 

Flying Fokker

Well-Known Member
  • Nov 17, 2022
  • #13,152

Mike Ashley: Ex-Newcastle United owner takes over CBS Arena, home of Coventry City

Former Newcastle United owner Mike Ashley takes over the operating companies which run the CBS Arena.
www.bbc.co.uk
 

Nick

Administrator
  • Nov 17, 2022
  • #13,153

Frasers Group secures purchase of Coventry Building Society Arena — Coventry Building Society Arena

Andrew Sheridan and Raj Mittal, Partners at specialist business advisory firm, FRP have been appointed as joint administrators of Arena Coventry Limited (ACL), Arena Coventry (2006) Limited and IEC Experience Limited. Upon appointment the Joint Administrators immediately completed the sale of the b
www.coventrybuildingsocietyarena.co.uk
 
D

Deleted member 5849

Guest
  • Nov 17, 2022
  • #13,154
Andrew Sheridan said:
This is a pleasing outcome, which helps secure up to 1,000 jobs in Coventry and ensures that the venue will continue to play a major role in the city’s economy as a world-class entertainment and hospitality venue and home for Coventry City Football Club.
Click to expand...

a) specific mention of home for us
b) no mention of Wasps

Probably asking too much to read into a quote after an event, but hey, at least there is some tangible evidence for what happens going forward...
 
Reactions: TomRad85 and MusicDating

Nick

Administrator
  • Nov 17, 2022
  • #13,155
have locked this one for now
 
Reactions: RegTheDonk and shepardo01
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