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Wasps going into admin & the impact on CCFC (9 Viewers)

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Nick said:


So Richardson hands the training ground over to his mate, the playing staff have been kicked out and the codes changed.
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Do you think the signing over of the training ground, on the day the bonds were due to be repaid ( in May ) was either legal, immoral, or both? 🤨
 
CCFCSteve said:
Im with Shmmeee on this. The council are far from blameless but SISU opened the door with their actions. They tried to play hardball, wanting to pick up stadium for nothing/next to nothing and failed….got another chance now 😊
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The council created the whole situation - what happens when you let idiots play business games

- Unworkable Lease with no value from day 1
- Absurd formula price
- Stupid rental arrangement
- Insistence on never selling their share
- Slobbering around Daniel Gidney
- Believing all the tripe that Martin Reeves said

Creating a failed project on Day 1.
 
robbiekeane said:
absolute nonsense. The council were dropping their trousers to wasps a year before we went to sixfields weren’t they? It was literally leaked in an email
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Did they not have thoughts of actually buying Wasps at the time?
 
Grendel said:
The council created the whole situation - what happens when you let idiots play business games

- Unworkable Lease with no value from day 1
- Absurd formula price
- Stupid rental arrangement
- Insistence on never selling their share
- Slobbering around Daniel Gidney
- Believing all the tripe that Martin Reeves said

Creating a failed project on Day 1.
Click to expand...

And that horrible 'City of Rugby' thing which exposes some of those on the left (I am one btw) as aspiring to be the very things they profess to despise. I hate that kind of snobbery in working class folk.
 
Grendel said:
The council created the whole situation - what happens when you let idiots play business games

- Unworkable Lease with no value from day 1
- Absurd formula price
- Stupid rental arrangement
- Insistence on never selling their share
- Slobbering around Daniel Gidney
- Believing all the tripe that Martin Reeves said

Creating a failed project on Day 1.
Click to expand...
Add in the - would only deal with SISU when we flirted with admin in 2007
 
Grendel said:
The council created the whole situation - what happens when you let idiots play business games

- Unworkable Lease with no value from day 1
- Absurd formula price
- Stupid rental arrangement
- Insistence on never selling their share
- Slobbering around Daniel Gidney
- Believing all the tripe that Martin Reeves said

Creating a failed project on Day 1.
Click to expand...
Grendel said:
The council created the whole situation - what happens when you let idiots play business games

- Unworkable Lease with no value from day 1
- Absurd formula price
- Stupid rental arrangement
- Insistence on never selling their share
- Slobbering around Daniel Gidney
- Believing all the tripe that Martin Reeves said

Creating a failed project on Day 1.
Click to expand...

Do you actually think councillor drawn up contracts? I know you’re not the brightest, but come on. As always with you it boils down to not much more than personal beef with people you’ve identified as “idiots”.
 
The funny thing about Vulgaris who runs the forum and bans any wasps fans even if they are negative admits he never goes anyway



I'm Oz, I've been a Wasps supporter for somewhere in the region of 15 years. I live in a small village in Hampshire with thousands (three at home, one grown up and moved out) of children and rarely get to the Ricoh. I used to live in Herts and so got to Adams Park a lot more. To be honest I kinda miss that place (am I allowed to say that?).
 
shmmeee said:
Do you actually think councillor drawn up contracts? I know you’re not the brightest, but come on. As always with you it boils down to not much more than personal beef with people you’ve identified as “idiots”.
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The council set the lease period of 50 years - they are the freehold owners so I think that is down to them.

One would also assume they actually lay down the terms of the contract I would think? I mean you make a will a solicitor draws it up on the clients instruction - or are you saying the dumbos did not even have an idea.

Everyone knows you get triggered when your precious Council get criticised.
 
shmmeee said:
Do you actually think councillor drawn up contracts? I know you’re not the brightest, but come on. As always with you it boils down to not much more than personal beef with people you’ve identified as “idiots”.
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tbf, he's been hailed as pro council and pro Maton recently...
 
shmmeee said:
Do you actually think councillor drawn up contracts? I know you’re not the brightest, but come on. As always with you it boils down to not much more than personal beef with people you’ve identified as “idiots”.
Click to expand...

You've chosen to die on the hill of 'Wasps moved in when CCFC weren't there'...
 
shmmeee said:
Do you actually think councillor drawn up contracts? I know you’re not the brightest, but come on. As always with you it boils down to not much more than personal beef with people you’ve identified as “idiots”.
Click to expand...

I think Grendel has a point. The council played God with the club from the very start and dont have a good track record with large investments you just have to look at the money pit Coombe Abbey has turned into. At the end of the day they were the ones through Arena Coventry Ltd that forced our administration.
 
Grendel said:
The funny thing about Vulgaris who runs the forum and bans any wasps fans even if they are negative admits he never goes anyway



I'm Oz, I've been a Wasps supporter for somewhere in the region of 15 years. I live in a small village in Hampshire with thousands (three at home, one grown up and moved out) of children
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What kind of weird small village in Hampshire has thousands of children?

Suggestions, please ?
 
Grendel said:
The council created the whole situation - what happens when you let idiots play business games

- Unworkable Lease with no value from day 1
- Absurd formula price
- Stupid rental arrangement
- Insistence on never selling their share
- Slobbering around Daniel Gidney
- Believing all the tripe that Martin Reeves said

Creating a failed project on Day 1.
Click to expand...

I don't know why shmmeee is laughing - Grendel is spot on. The council creating an entity to run the stadium and then lumbering it with a huge debt yet only a 50 year lease was utterly stupid, everything since then is a consequence of that.
 
fernandopartridge said:
I don't know why shmmeee is laughing - Grendel is spot on. The council creating an entity to run the stadium and then lumbering it with a huge debt yet only a 50 year lease was utterly stupid, everything since then is a consequence of that.
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Yep, they had the silly debt that they then relied on the club to pay in high rent.
 
The company which own Wasps training ground was never owned by Wasps themselves, but was owned by Richardson and Holland, I suppose transferring Richardsons shares to Holland on the day the bond was due could have raised funds for payment of the bonds interest if Richardson used any of the proceeds to lend the necessary to Wasps, adding to their debt to him.
 
I always thought the contract was written by another party in the negotiations for the Arena.

Nothing to back that assertion up, just a hunch.
 
I still think the area around the Arena if we are using SimCity terminology should be for low to medium industrial sector and then building the sector up over a number of years to a more high-tech setting.

A start-up city could work very nicely with variable sized premises.

Would be something to really drive regeneration in the city and beyond.
 
Last edited:
Nick said:
Yep, they had the silly debt that they then relied on the club to pay in high rent.
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Question - when CCFC were the main tenant did we receive the incomes from casino/hotel letting or did that go to ACL still? I’m guessing the latter.
 
SBAndy said:
Question - when CCFC were the main tenant did we receive the incomes from casino/hotel letting or did that go to ACL still? I’m guessing the latter.
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Aren't they either owner operated or franchised?
 
Sbarcher said:
Oh dear, Exeter boss suggesting Rugby PL should be reduced to 10 teams only!
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They were talking about this in the office earlier. What he's saying makes sense tbh. People aren't going to games because the internationals clash, well they think that's why they aren't going to games anyway. Less games and better scheduling means increased availability of international players.

Plus an even number in the league just seems common sense. I suspect if there's 10 clubs that think their own future in a a closed off league can be secured they won't hesitate to vote in favour of something like that should it be put to them.
 
SBAndy said:
Question - when CCFC were the main tenant did we receive the incomes from casino/hotel letting or did that go to ACL still? I’m guessing the latter.
Click to expand...
We gave away our income streams bit by bit over the first few years.
 
Wasn't there a super rate to the council via gov't if it achieved a certain level of turnover/profit .
Wonder if it ever achieved the level , highly doubt it.
 
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