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Wasps going into admin & the impact on CCFC (8 Viewers)

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

Well-Known Member
  • Sep 21, 2022
  • #106
Nick said:
How many are actually employed by wasps and not the caterers etc?
Click to expand...
Wasn't there an article recently that they'd cut staff to the minimum and some positions were being replaced with volunteers.
 
B

Brighton Sky Blue

Well-Known Member
  • Sep 21, 2022
  • #107
I blame Melchett
 
Reactions: MusicDating, larry_david, steve cooper and 3 others

ccfc922

Well-Known Member
  • Sep 21, 2022
  • #108
SeaSeeEffCee said:
Hasn’t their season already started? How are they going to sort out relegation?
Click to expand...

Didn't another club have the same a couple of seasons ago? Relegated automatically still played all their games where winning meant effectively nothing?
 
Reactions: Sky Blue Pete

chiefdave

Well-Known Member
  • Sep 21, 2022
  • #109
SeaSeeEffCee said:
Hasn’t their season already started? How are they going to sort out relegation?
Click to expand...
some people suggested they were desperately trying to string things out until they'd played their first game to prevent automatic relegation but surely with only a handful of games played you just void those results if needed.
 
Reactions: wingy

duffer

Well-Known Member
  • Sep 21, 2022
  • #110
oldskyblue58 said:
Acl own the lease
Click to expand...


And are 100% secured against the bonds I believe.

Blimey, if only someone had told me how exciting accountancy could be when I was at school. I wouldn't have wasted so much time trying to make it as a fighter pilot.
 
Reactions: vow, PUSB-We_are_going_up, ccfcchris and 10 others

Grendel

Well-Known Member
  • Sep 21, 2022
  • #111
oldskyblue58 said:
Up until May I didn't think it would happen. They should have been able to sort something but it would seem piss poor management means they carried on regardless. The situation must have gone significantly worse since June 2021

Clearly in the end I was wrong.

Won't shed not one tear for them. I don't feel sorry for them at all. Should never have been here.

I do feel sorry for the ordinary stadium staff who won't get paid and could lose their jobs. The staff who had to find out about it on social media, couldn't even tell the staff first, that's a disgrace in its self

I do wonder if this has been planned to clear the debts then carry on .... a pre pack situation. Some twists and turns to come I think.
Click to expand...

Richardson will be protecting his interests this isn’t over yet
 
Reactions: torchomatic, Colin Steins Smile, oldskyblue58 and 1 other person
S

SheafIsGod

Well-Known Member
  • Sep 21, 2022
  • #112
Personally don’t get the joy over this. We won’t own the stadium as a result. We were a mess long before Wasps arrived and we’ll be a mess long after they’ve gone
 
Reactions: Incognitocov

oldskyblue58

CCFC Finance Director
  • Sep 21, 2022
  • #113
Acl owe something like 23m of the bond to wasps finance who then owes the bondholders 35m

Acl however jointly and severally secure the bond so could be held responsible for all of it
 
Reactions: torchomatic and duffer

Liquid Gold

Well-Known Member
  • Sep 21, 2022
  • #114
We need a Dellaglio statement
 
Reactions: torchomatic, robbiethemole and duffer

Grendel

Well-Known Member
  • Sep 21, 2022
  • #115
Liquid Gold said:
We need a Dellaglio statement
Click to expand...

There is one due imminently
 

duffer

Well-Known Member
  • Sep 21, 2022
  • #116
SheafIsGod said:
Personally don’t get the joy over this. We won’t own the stadium as a result. We were a mess long before Wasps arrived and we’ll be a mess long after they’ve gone
Click to expand...

Quite possibly, but if you haven't already understood the visceral dislike of (London) Wasps pitching up here, fucking over the local rugby and football club, and disenfranchising their own supporters, I guess it's a bit late for me to try to explain.
 
Reactions: SBQuin, Fergusons_Beard, GaryMabbuttsLeftKnee and 25 others
L

Legia Sky Blue

Well-Known Member
  • Sep 21, 2022
  • #117
Have never really understood the machinations of the administration process, but could notifying an 'intention' to enter administration still be part of Wasps negotition strategy with their bond holders in the hope that the bond holders might then accept a lower settlement, rather than risk the outcome of administration?
 

Liquid Gold

Well-Known Member
  • Sep 21, 2022
  • #118
Grendel said:
There is one due imminently
Click to expand...
He's either a liar or he's been lied to.

Can't wait to see the angle he's taking.
 

torchomatic

Well-Known Member
  • Sep 21, 2022
  • #119
My thoughts are with the Sky Blue Trust at this incredibly difficult time.
 
Reactions: Fergusons_Beard, Wyken Sky Blue, skyblueinBaku and 35 others
P

procdoc

Well-Known Member
  • Sep 21, 2022
  • #120
This has cheered me right up
 
Reactions: torchomatic

Nick

Administrator
  • Sep 21, 2022
  • #121
Liquid Gold said:
He's either a liar or he's been lied to.

Can't wait to see the angle he's taking.
Click to expand...
Probably the same one Andy goode took.
 
Reactions: Skyblueweeman and duffer

Liquid Gold

Well-Known Member
  • Sep 21, 2022
  • #122
torchomatic said:
My thoughts are with the Sky Blue Trust at this incredibly difficult time.
Click to expand...
I had a look to see if they had the brass neck to tweet about it. Nothing.
 
Reactions: torchomatic

Otis

Well-Known Member
  • Sep 21, 2022
  • #123
Liquid Gold said:
I had a look to see if they had the brass neck to tweet about it. Nothing.
Click to expand...
They did start one, but realised they had kept typing "we", so are now rehashing it so it will read "them."
 
Reactions: torchomatic

Liquid Gold

Well-Known Member
  • Sep 21, 2022
  • #124
Go on then Wasps forum, give me a semi

 
Reactions: PUSB-We_are_going_up, no_loyalty, MAFF and 4 others

Terry_dactyl

Well-Known Member
  • Sep 21, 2022
  • #125
I mean, it’s clearly good news right? Even if it doesn’t impact on us in any tangible way.
They need to fuck off.
 
Reactions: SBQuin, Fergusons_Beard, PUSB-We_are_going_up and 6 others

Philosoraptor

Well-Known Member
  • Sep 21, 2022
  • #126
SheafIsGod said:
Personally don’t get the joy over this. We won’t own the stadium as a result. We were a mess long before Wasps arrived and we’ll be a mess long after they’ve gone
Click to expand...

It's like mud wrestling. Don't care who wins as long as it goes the distance.
 
Reactions: SkyBlueSam01

Otis

Well-Known Member
  • Sep 21, 2022
  • #127
Liquid Gold said:
Go on then Wasps forum, give me a semi

View attachment 26272
Click to expand...
Ooh, I like this guy. Got a number for him?
 
Reactions: duffer

Terry_dactyl

Well-Known Member
  • Sep 21, 2022
  • #128
Liquid Gold said:
Go on then Wasps forum, give me a semi

View attachment 26272
Click to expand...
Yeah I read that.
Im with a couple of others on here, trying not to get too excited but fuck me it’s good reading!
 
Reactions: Skyblueweeman, torchomatic and duffer
C

CCFCSteve

Well-Known Member
  • Sep 21, 2022
  • #129
SheafIsGod said:
Personally don’t get the joy over this. We won’t own the stadium as a result. We were a mess long before Wasps arrived and we’ll be a mess long after they’ve gone
Click to expand...

It potentially puts the stadium/long lease on the open market for sale, which as suggested before might attract offers for CCFC and stadium
 

oldskyblue58

CCFC Finance Director
  • Sep 21, 2022
  • #130
https://www.thegazette.co.uk/insolvency/content/104038#:~:text=Their%20duties%20must%20be%20exercised,make%20a%20distribution%20to%20creditors
.

These are the duties of an administrator. Yes to get best benefit for the creditors but also if best for creditors to save the company

Wonder if some assets have moved location
 
Reactions: duffer

Philosoraptor

Well-Known Member
  • Sep 21, 2022
  • #131
 
Reactions: Otis, torchomatic, theferret and 1 other person

Johnnythespider

Well-Known Member
  • Sep 21, 2022
  • #132
clint van damme said:
@Johnnythespider tried liking your reply mate but its gone!
Click to expand...
Yeah sorry mate, thought it was a bit personal so deleted it.
 
Reactions: clint van damme

Nick

Administrator
  • Sep 21, 2022
  • #133
oldskyblue58 said:
https://www.thegazette.co.uk/insolvency/content/104038#:~:text=Their%20duties%20must%20be%20exercised,make%20a%20distribution%20to%20creditors
.

These are the duties of an administrator. Yes to get best benefit for the creditors but also if best for creditors to save the company

Wonder if some assets have moved location
Click to expand...
How does that work if things are secured on them? Doesn't it work like car finance etc etc that if you get rid with something secured on it, it can still be claimed back?
 

clint van damme

Well-Known Member
  • Sep 21, 2022
  • #134
Johnnythespider said:
Yeah sorry mate, thought it was a bit personal so deleted it.
Click to expand...

It was funny mate, and I've been told 'I'm abit cunty' on here today so your post was fine!
 
Reactions: Otis, MusicDating, torchomatic and 3 others
3

3generations skyblue

Active Member
  • Sep 21, 2022
  • #135
jordan210 said:
Surprised they havent tried to turn it in to a housing estate yet
Click to expand...
 

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chiefdave

Well-Known Member
  • Sep 21, 2022
  • #136
Liquid Gold said:
Go on then Wasps forum, give me a semi

View attachment 26272
Click to expand...
If, and its still a big if IMO, Wasps lose control of the ground to the bondholders, is there a strong case for them staying at the CBS? 5K in a stadium that holds over 30K isn't fun as we've experienced when we've had some cold nights in the early rounds of the paint pot cup and will only get worse if the current results are maintained and we head into winter. Would that be the point at which they admit the experiment has failed.

Of course that leaves the question of where they would go. Brentford would be the obvious answer being literally minutes from where the club was previously based but having told their supporters that wasn't an option as rugby wouldn't be allowed there London Irish have moved in.
 

duffer

Well-Known Member
  • Sep 21, 2022
  • #137
Johnnythespider said:
Yeah sorry mate, thought it was a bit personal so deleted it.
Click to expand...

Well that's never going to catch on hereabouts, is it.
 
Reactions: Johnnythespider

Liquid Gold

Well-Known Member
  • Sep 21, 2022
  • #138
Worcester Wasps is lovely alliteration
 
Reactions: Otis

chiefdave

Well-Known Member
  • Sep 21, 2022
  • #139
Liquid Gold said:
Worcester Wasps is lovely alliteration
Click to expand...
Wonder how Worcester fans would take that idea. Would they swap Warriors for Wasps if it meant still having a club?
 

Nick

Administrator
  • Sep 21, 2022
  • #140
Wonder what legal advice the council are getting?
 
Reactions: torchomatic
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