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Wasps going into admin & the impact on CCFC (5 Viewers)

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

Well-Known Member
  • Oct 12, 2022
  • #1,891
Frostie said:
This is apparently a Rugby correspondent for The Sunday Times... Has he done any research whatsoever?

Click to expand...
Well a move sideways to the FT is definately out for him!
 
Reactions: Frostie

RegTheDonk

Well-Known Member
  • Oct 12, 2022
  • #1,892
IMissMAF said:

pathetic
Click to expand...
Hearts of their Communities???? Its over 100 fucking miles away!
 
Reactions: SBQuin, Philosoraptor, SkyBlueSam01 and 2 others

Esoterica

Well-Known Member
  • Oct 12, 2022
  • #1,893
RIP Wasps

 
Reactions: lordy_87, AStonesThrow, GaryMabbuttsLeftKnee and 16 others
O

oldfiver

Well-Known Member
  • Oct 12, 2022
  • #1,894
jordan210 said:
Rumour from wasps board was a rich cov fan paid for it. So Overson id guess
Click to expand...

Money passed from CCFC to WASPS to contractor
 

jordan210

Well-Known Member
  • Oct 12, 2022
  • #1,895
Wasps going in to admin you say........
 
Reactions: RegTheDonk, hill83 and Kingokings204

Sky Blue Harry H

Well-Known Member
  • Oct 12, 2022
  • #1,896
Shugs

Let’s be clear - there’s still a huge amount to happen here. We don’t know if we’ll be relegated or lose our P share. Once the emphasis shifted from financing the debt to seeking a takeover that was always going to happen in administration. People with the sort of money to buy the level of assets in the mix don’t get that much of it by spaffing it up the wall on a regular basis when they don’t have to. So now we’ll see if any of them are serious. There’s a huge mix of alternatives with Wasps the rugby entity not being of standout appeal but we don’t know. There is a huge amount to happen in this yet.

 
Reactions: fernandopartridge, duffer and wingy
D

Deleted member 5849

Guest
  • Oct 12, 2022
  • #1,897
Grendel said:
You have to have some sympathy for the supporters who have been with the club for years.

They are just an odd nomadic club that seems to totally accept the moving around is part of their being

it’s worth remembering a lot of people have been taken in by the total nonsense Sisu have spouted about new grounds so glass houses and all that

They have been sold down the river by their owners who have lied and denied everything and I suspect the end is pretty close but i think we should refrain a bit from gloating as if the FL hadn’t bent over backwards when we decided to wander round the midlands this could have Been us
Click to expand...
To a degree yes but, much as MK Dons shouldn't exist, the same applies here. And yes, that's unfortunate for the fans who've been beaten about, but is where we're at.
 
Reactions: Skyblueweeman and Otis

Hutch11

Well-Known Member
  • Oct 12, 2022
  • #1,898
Sky Blue Harry H said:
Shugs

Let’s be clear - there’s still a huge amount to happen here. We don’t know if we’ll be relegated or lose our P share. Once the emphasis shifted from financing the debt to seeking a takeover that was always going to happen in administration. People with the sort of money to buy the level of assets in the mix don’t get that much of it by spaffing it up the wall on a regular basis when they don’t have to. So now we’ll see if any of them are serious. There’s a huge mix of alternatives with Wasps the rugby entity not being of standout appeal but we don’t know. There is a huge amount to happen in this yet.

Click to expand...
 
S

SBT

Well-Known Member
  • Oct 12, 2022
  • #1,899
Deleted member 5849 said:
To a degree yes but, much as MK Dons shouldn't exist, the same applies here. And yes, that's unfortunate for the fans who've been beaten about, but is where we're at.
Click to expand...

Is rugby really that important to people that moving a team has the same impact as an MK Dons/Wimbledon situation? Yeah, Wasps moving into the Ricoh fucked us over and was worth getting angry about - I just never understood the outrage over moving a rugby team from one city to another.
 
Reactions: shmmeee

olderskyblue

Well-Known Member
  • Oct 12, 2022
  • #1,900
Gynnsthetonic said:
Nothing in the Cov Tel as of yet, is that because Wasp have stopped funding it already
Click to expand...
Surely Cov Tel must be the biggest creditor ??
 
Reactions: rexo87 and RegTheDonk
D

Deleted member 5849

Guest
  • Oct 12, 2022
  • #1,901
SBT said:
Is rugby really that important to people that moving a team has the same impact as an MK Dons/Wimbledon situation? Yeah, Wasps moving into the Ricoh fucked us over and was worth getting angry about - I just never understood the outrage over moving a rugby team from one city to another.
Click to expand...
Yes, it's exactly the same principle. And Cov Rugby have a far more successful and high profile history than just about every other Rugby club.

It shouldn't happen, and that's that.
 
Reactions: SBQuin, MusicDating, Skyblueweeman and 4 others

Sick Boy

Super Moderator
  • Oct 12, 2022
  • #1,902
IMissMAF said:

pathetic
Click to expand...
What community are they the heart of in Coventry? They’re off their heads.
Vile club.
 
Reactions: Skyblueweeman, duffer, RegTheDonk and 2 others

CCFC_Irish

Well-Known Member
  • Oct 12, 2022
  • #1,903
Sky Blue Harry H said:
Shugs

Let’s be clear - there’s still a huge amount to happen here. We don’t know if we’ll be relegated or lose our P share. Once the emphasis shifted from financing the debt to seeking a takeover that was always going to happen in administration. People with the sort of money to buy the level of assets in the mix don’t get that much of it by spaffing it up the wall on a regular basis when they don’t have to. So now we’ll see if any of them are serious. There’s a huge mix of alternatives with Wasps the rugby entity not being of standout appeal but we don’t know. There is a huge amount to happen in this yet.

Click to expand...

Nobody bought warriors, if I were to buy a team I would look at Wasps RFC who have an average attendance of 9k in a 30k+ stadium and are not even reaching half of that. They are a team in the premiership of English rugby. Coventry City FC on the other hand have an average attendance of almost double that and they are not even in the top division of English football. IF Coventry were to have success in terms of making it to the play-offs or promotion, I would expect home games to sell-out on almost every occasion. Coventry isn't small but it isn't big and the success will drive up revenue, this would increase the business in other CBS arena based functions such as the hotel - away fans need somewhere to stay.
 
Reactions: ccfcchris and RegTheDonk
S

Sizzler

Well-Known Member
  • Oct 12, 2022
  • #1,904
Just going to point out that the Wasps fans are not represented by a small minority of vocal arseholes, but thankfully, City fans are also not represented by a small minority of vocal arseholes.
 

Earlsdon_Skyblue1

Well-Known Member
  • Oct 12, 2022
  • #1,905
This thread is my favourite in a long time. Every post is a quality one.

Almost having to restrain myself from going through every comment and liking them.

 
Reactions: SBQuin, I_Saw_Shaw_Score, Skyblueweeman and 2 others

Nick

Administrator
  • Oct 12, 2022
  • #1,906
CCFC_Irish said:
Nobody bought warriors, if I were to buy a team I would look at Wasps RFC who have an average attendance of 9k in a 30k+ stadium and are not even reaching half of that. They are a team in the premiership of English rugby. Coventry City FC on the other hand have an average attendance of almost double that and they are not even in the top division of English football. IF Coventry were to have success in terms of making it to the play-offs or promotion, I would expect home games to sell-out on almost every occasion. Coventry isn't small but it isn't big and the success will drive up revenue, this would increase the business in other CBS arena based functions such as the hotel - away fans need somewhere to stay.
Click to expand...

They won't be in the Premiership for long.
 
Reactions: ccfcrob

TwistAndShoutCCFC1987

Well-Known Member
  • Oct 12, 2022
  • #1,907
IMissMAF said:

pathetic
Click to expand...
The only P we’ll be taking is the P from the seats in the east stand
 
Reactions: TomRad85, duffer and Earlsdon_Skyblue1

Nick

Administrator
  • Oct 12, 2022
  • #1,908
 
Reactions: SBQuin, GaryMabbuttsLeftKnee, Philosoraptor and 12 others
D

djbooth

Well-Known Member
  • Oct 12, 2022
  • #1,909
Nick said:
Click to expand...
Things can only get better…,..
 
Reactions: duffer and Saddlebrains

shmmeee

Well-Known Member
  • Oct 12, 2022
  • #1,910
SBT said:
Is rugby really that important to people that moving a team has the same impact as an MK Dons/Wimbledon situation? Yeah, Wasps moving into the Ricoh fucked us over and was worth getting angry about - I just never understood the outrage over moving a rugby team from one city to another.
Click to expand...

Ive asked this and why other sports like Ice Hockey that have done the same aren’t lambasted. It’s about Cov Rugby being here already seems the most cogent answer.
 

shmmeee

Well-Known Member
  • Oct 12, 2022
  • #1,911
Nick said:
Click to expand...

Does suspended mean no more games until it’s sorted out, or out out?

Would be amazing if we get sole use of the pitch for a while. Especially while games are coming thick and fast.
 
Reactions: SBQuin, davy67, duffer and 1 other person

Joy Division

Well-Known Member
  • Oct 12, 2022
  • #1,912
Nick said:
Click to expand...


 
Reactions: TomRad85, torchomatic, skyblu3sk and 1 other person
C

coop

Well-Known Member
  • Oct 12, 2022
  • #1,913
Wasps now suspended by RFU.
 
Reactions: Skyblueweeman and torchomatic

RegTheDonk

Well-Known Member
  • Oct 12, 2022
  • #1,914
Sky Blue Harry H said:
Shugs

Let’s be clear - there’s still a huge amount to happen here. We don’t know if we’ll be relegated or lose our P share. Once the emphasis shifted from financing the debt to seeking a takeover that was always going to happen in administration. People with the sort of money to buy the level of assets in the mix don’t get that much of it by spaffing it up the wall on a regular basis when they don’t have to. So now we’ll see if any of them are serious. There’s a huge mix of alternatives with Wasps the rugby entity not being of standout appeal but we don’t know. There is a huge amount to happen in this yet.

Click to expand...
Wasps "suspended" on Mids Today.
 

Sky Blue Harry H

Well-Known Member
  • Oct 12, 2022
  • #1,915
Wasps embedded in our community ????

In reply to Shugs 'it's being covered on CWR'

Sorry shugs seriously dump what is CWR

(can't even spell dumb!)
 

Otis

Well-Known Member
  • Oct 12, 2022
  • #1,916
Earlsdon_Skyblue1 said:
This thread is my favourite in a long time. Every post is a quality one.

Almost having to restrain myself from going through every comment and liking them.

Click to expand...
He wouldn't last 5 mins in Canley.
 
Reactions: Earlsdon_Skyblue1

Grendel

Well-Known Member
  • Oct 12, 2022
  • #1,917
Steve from Cov “it feels like a bereavement”
 
Reactions: SBQuin, Moff, SkyBlueSam01 and 14 others

duffer

Well-Known Member
  • Oct 12, 2022
  • #1,918
fernandopartridge said:
Any 3rd party will be the bondholders. I don’t see how the council will be able to revoke the lease. In my opinion it will be sold to the administrators favoured party and the proceeds distributed to the bondholders at a discounted rate. If the admin procedure is anything like CCFC’s, this may be bad news for us as it could still end up in Wasps hands, albeit under a different entity.
Sent from my iPhone using Tapatalk
Click to expand...

Far from an expert on the admin process but wasn't the reason that Otium were the preferred bidder when Sisu put the club into admin because effectively the debt was owed to Sisu. So in theory Otium's offer to repay nearly all the debt (by just moving money around) represented the best offer for the creditors (Sisu). This is a bit different as the debt is owed to HMRC, bond holders and other external parties. Ie. Wasps under a different guise couldn't fabricate a best offer for the rugby club.
[/QUOTE]

Richardson is a big creditor though and its whether there is any precedence in the debts which is the big issue. I still think that a likely outcome of this process is that another Richardson controlled entity is able to buy the assets.
[/QUOTE]

Precedence is bondholders then HMRC. Whatever's left after that goes to the other creditors.
 

Nick

Administrator
  • Oct 12, 2022
  • #1,919
Grendel said:
Steve from Cov “it feels like a bereavement”
Click to expand...

Where's that?
 

Otis

Well-Known Member
  • Oct 12, 2022
  • #1,920
Grendel said:
Steve from Cov “it feels like a bereavement of an annoying auntie you couldn't stand”
Click to expand...
 
Reactions: AOM, Terry Gibson's perm and ovduk78

Saddlebrains

Well-Known Member
  • Oct 12, 2022
  • #1,921
I want @hill83 to drop the perfect gif about now
 
Reactions: torchomatic

kingfield park skyblues

Well-Known Member
  • Oct 12, 2022
  • #1,922
Sisu are making money from ccfc,they will only sell at their price. The price is too inflated says Simon Jordan.So be prepared for nec or michael Ashley owning the stadium..Then watch the financial madness
 
Reactions: CCFC_Irish

Liquid Gold

Well-Known Member
  • Oct 12, 2022
  • #1,923
I know we've all had a long day and it's very exciting but can we take 5 minutes to make sure our quotes are working please?
 
Reactions: shmmeee, robbiekeane, robbiethemole and 4 others

Grendel

Well-Known Member
  • Oct 12, 2022
  • #1,924
Nick said:
Where's that?
Click to expand...

Once a Wasp
 
B

Brighton Sky Blue

Well-Known Member
  • Oct 12, 2022
  • #1,925
Saddlebrains said:
I want @hill83 to drop the perfect gif about now
Click to expand...

This can tide you over
 
Reactions: AOM, MacReady, MAFF and 1 other person
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