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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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Johnnythespider

Well-Known Member
  • Oct 13, 2022
  • #2,346
hill83 said:
All stolen off a website but it's Nicks fault
Click to expand...
Looks great, when are they building it ?
 
Reactions: AOM, hill83, Saddlebrains and 1 other person

TomRad85

Well-Known Member
  • Oct 13, 2022
  • #2,347
Nick said:
Yep and also wasps haven't broken any agreements. All ccfc and sisu
Click to expand...
The agreement to provide Coventry with world class Rugby is the most broken of broken agreements.

Sent from my SM-G973F using Tapatalk
 
Reactions: robbiethemole and PUSB-We_are_going_up

Nick

Administrator
  • Oct 13, 2022
  • #2,348
Grendel said:
I think the amount of unpaid creditors is going to be jaw dropping
Click to expand...
Do they have to list them all at some point?
 

hill83

Well-Known Member
  • Oct 13, 2022
  • #2,349
Nick said:
Yep and also wasps haven't broken any agreements. All ccfc and sisu
Click to expand...

Tbf you are probably right, but PROVIDE EVIDENCE NICK.

I'd like evidence of god as well please
 

hill83

Well-Known Member
  • Oct 13, 2022
  • #2,350
fernandopartridge said:
Didn't go to the Irish Centre I take it?

Sent from my SM-G935F using Tapatalk
Click to expand...

No. I don't get it.
 
Reactions: Old Warwickshire lad

Nick

Administrator
  • Oct 13, 2022
  • #2,351
hill83 said:
Tbf you are probably right, but PROVIDE EVIDENCE NICK.

I'd like evidence of god as well please
Click to expand...
Wouldn't say it if I didn't have links.
Going to end up being a spreadsheet wanker.
 
Reactions: Earlsdon_Skyblue1 and hill83

Liquid Gold

Well-Known Member
  • Oct 13, 2022
  • #2,352
Nick said:



It's all made up, wasps haven't broken any agreements.
Click to expand...
They broke the agreement to provide a pitch suitable for football.
 
Reactions: Nick

shepardo01

Well-Known Member
  • Oct 13, 2022
  • #2,353
 
Reactions: robbiethemole

SBAndy

Well-Known Member
  • Oct 13, 2022
  • #2,354
Nick said:
Do they have to list them all at some point?
Click to expand...

Yes, the administrator’s report will be published on Companies House detailing all creditors.
 
Reactions: Nick

Calista

Well-Known Member
  • Oct 13, 2022
  • #2,355
hill83 said:
I miss the days when you could stick 2000 on the end of something and it was instantly a good idea.

Mars bar 2000
Click to expand...
Grecian 2000 is probably more what I need, despite appearances
 
Reactions: ccfcrob and duffer

Liquid Gold

Well-Known Member
  • Oct 13, 2022
  • #2,356
shepardo01 said:
Click to expand...
 
Reactions: duffer

Gynnsthetonic

Well-Known Member
  • Oct 13, 2022
  • #2,357
Frostie said:
So far in the Wasps fans blame game we have...
  • Covid
  • Coventry City fans
  • Sisu
  • Saracens
  • The RFU
Nobody thought to look closer to home yet?
Click to expand...
Saracens seem to be blamed the most.
 

Otis

Well-Known Member
  • Oct 13, 2022
  • #2,358
hill83 said:
I miss the days when you could stick 2000 on the end of something and it was instantly a good idea.

Mars bar 2000
Click to expand...
Death Race
 
Reactions: steveo1987, duffer, torchomatic and 2 others
O

oldfiver

Well-Known Member
  • Oct 13, 2022
  • #2,359
RegTheDonk said:
Any idea what will happen to the bondholders? Is it too late for them to have any influence in administrators, trustees etc? I would think a Wasps appointed admin (not unlike ours with Applesauce) would be bent towards their aims.
Click to expand...

Tell that to Bondholders- they say best deal will be staying with WASPs Receiver
 

Grendel

Well-Known Member
  • Oct 13, 2022
  • #2,360
oldfiver said:
Tell that to Bondholders- they say best deal will be staying with WASPs Receiver
Click to expand...

Empty pockets all round then
 

Nick

Administrator
  • Oct 13, 2022
  • #2,361
SBAndy said:
Yes, the administrator’s report will be published on Companies House detailing all creditors.
Click to expand...
Thought so. Will be interesting reading.
 

oldskyblue58

CCFC Finance Director
  • Oct 13, 2022
  • #2,362
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...

The latter. Ccfc only rented the stadium on match days which makes the rent charged ridiculous.

The basis of the original lease to ACL by CCC was purely based on what CCC needed to pay its loan. Not commercial
 
Reactions: Hiraeth, duffer, Sick Boy and 3 others

TomRad85

Well-Known Member
  • Oct 13, 2022
  • #2,363
I see they are still trying to take the moral high ground over the uncivilised football supporters on social media. Delusional cunts. They'd swallow Richardsons spunk if he told them it tasted of strawberry. Think we should do a funeral parade for them through Coventry.

Sent from my SM-G973F using Tapatalk
 
Reactions: Skyblueweeman, Moff, Sick Boy and 3 others

Johnnythespider

Well-Known Member
  • Oct 13, 2022
  • #2,364
shepardo01 said:
Click to expand...
What does the T stand for
 

Nick

Administrator
  • Oct 13, 2022
  • #2,365

How do they really not know these things?
 
O

oldfiver

Well-Known Member
  • Oct 13, 2022
  • #2,366
oldskyblue58 said:
The latter. Ccfc only rented the stadium on match days which makes the rent charged ridiculous.

The basis of the original lease to ACL by CCC was purely based on what CCC needed to pay its loan. Not commercial
Click to expand...

How was the Coventry City £1.3m Ricoh Arena rent bill decided

Former council boss says authority spent "a fortune" on European lawyers before deciding on the figure that sparked a huge dispute
www.coventrytelegraph.net
 

Samo

Well-Known Member
  • Oct 13, 2022
  • #2,367
shepardo01 said:
Click to expand...

Bless
 

oldskyblue58

CCFC Finance Director
  • Oct 13, 2022
  • #2,368
Nick said:



It's all made up, wasps haven't broken any agreements.
Click to expand...

What like the agreement to pay the bondholders
The agreement to pay suppliers on time
Or even just pay them
The original legal position with hmrc is to pay paye & vat by the set dates. Time to pay is a concession agreement that hmrc tells you clearly if it is not met on the terms agreed then the whole debt will be called in - hardly blindsided any one would expect hmrc to take action if they don't pay. Hmrc don't call these arrangements in unless the taxpayer breaks the terms

Some people need to take in what is in front of them. Not the spin. Very naiive and convenient to blame third parties when the responsibility to run the business properly is that of its owners and directors
 
Last edited: Oct 13, 2022
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torchomatic

Well-Known Member
  • Oct 13, 2022
  • #2,369
I
Otis said:
Death Race
Click to expand...

Does anyone remember Coldrex? Was that a 2000?
 
H

HuckerbyDublinWhelan

Well-Known Member
  • Oct 13, 2022
  • #2,370
Fucking hell I mean we all hate SISU and for good reason, some hate Boddy - but Wasps are going have to explain how SISU are at fault for this one.

have they blamed the war in Ukraine yet? Bloody putin… they were on course to break even and him bombing Kiev has put that back a few years (still happen though)
 

Calista

Well-Known Member
  • Oct 13, 2022
  • #2,371
hill83 said:
All stolen off a website but it's Nicks fault
Click to expand...
‘Arena 2000 started as Chairman Bryan Richardson’s dream’
‘In a single stroke, Coventry City Football Club will be transformed into the envy of England’
‘The Arena will be a technical marvel’
‘Crowds of 40,000 will be able to watch football matches and other events. Another 7,000 will be housed when the pitch is retracted for concerts’

Terracotta tiles and laser-bouncing curtains, yet CCFC didn’t even have enough money to buy the land.
 

Calista

Well-Known Member
  • Oct 13, 2022
  • #2,372
oldfiver said:

How was the Coventry City £1.3m Ricoh Arena rent bill decided

Former council boss says authority spent "a fortune" on European lawyers before deciding on the figure that sparked a huge dispute
www.coventrytelegraph.net
Click to expand...
Interesting that, and not much sign of stupidity or a vendetta against CCFC in the Council's explanation. Could be just spin I guess, but looks more like the rent and the lease were unfortunate consequences of a grossly over-ambitious development that the club couldn't afford, and could only sustain if we made it into the Prem.
 
Reactions: robbiethemole and Incognitocov

skybluetony176

Well-Known Member
  • Oct 13, 2022
  • #2,373
hill83 said:
No. I don't get it.
Click to expand...
You would have got it if you went there on a Friday night. Followed by a walk of shame on a Saturday morning.
 
Reactions: Moff, no_loyalty, wingy and 2 others

Grendel

Well-Known Member
  • Oct 13, 2022
  • #2,374
Calista said:
Interesting that, and not much sign of stupidity or a vendetta against CCFC in the Council's explanation. Could be just spin I guess, but looks more like the rent and the lease were unfortunate consequences of a grossly over-ambitious development that the club couldn't afford, and could only sustain if we made it into the Prem.
Click to expand...

it was ridiculous - Swansea paid a peppercorn rent - and again the lease period for the stadium was a joke. What idiot leader of the council signed that off needs shooting - strange the “advice” was ignored when it came to selling the place
 
Reactions: Fergusons_Beard, bulko, Sick Boy and 1 other person

Calista

Well-Known Member
  • Oct 13, 2022
  • #2,375
Grendel said:
it was ridiculous - Swansea paid a peppercorn rent - and again the lease period for the stadium was a joke. What idiot leader of the council signed that off needs shooting - strange the “advice” was ignored when it came to selling the place
Click to expand...
Even the hugely scaled-down version of Richardson's plans cost £110m to develop. Is that how much the Swansea ground cost (I genuinely don’t know, but suspect only a small fraction)? There’s a difference between a realistic stadium and a vanity project built on contaminated land. I agree (and it has been proven) that the arrangement couldn't work, but it looks like it was based on a lot of legal advice, and I dare say the Council had to think about the vast majority of voters who perceive football as being awash with money and not deserving subsidy. Sisu had all the information when they bought the club. Given what we know about them, you have to suspect that deliberately forcing a cheap sale was always part of their plan. But they got the politics horribly wrong and excluded themselves much to CCFC's cost.

Edit - I agree the sale to Wasps looks like a different ball game, literally.
 

Frostie

Well-Known Member
  • Oct 13, 2022
  • #2,376
Crikey...

 
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Nick

Administrator
  • Oct 13, 2022
  • #2,377
Frostie said:
Crikey...


Click to expand...
It's as if they have been living in a different world.
 
Reactions: PUSB-We_are_going_up, TomRad85 and Frostie

Sick Boy

Super Moderator
  • Oct 13, 2022
  • #2,378
Calista said:
Even the hugely scaled-down version of Richardson's plans cost £110m to develop. Is that how much the Swansea ground cost (I genuinely don’t know, but suspect only a small fraction)? There’s a difference between a realistic stadium and a vanity project built on contaminated land. I agree (and it has been proven) that the arrangement couldn't work, but it looks like it was based on a lot of legal advice, and I dare say the Council had to think about the vast majority of voters who perceive football as being awash with money and not deserving subsidy. Sisu had all the information when they bought the club. Given what we know about them, you have to suspect that deliberately forcing a cheap sale was always part of their plan. But they got the politics horribly wrong and excluded themselves much to CCFC's cost.

Edit - I agree the sale to Wasps looks like a different ball game, literally.
Click to expand...
I’m sure the decision not to look at buying the stadium was down to Ranson.
 
B

Brighton Sky Blue

Well-Known Member
  • Oct 13, 2022
  • #2,379
Frostie said:
Crikey...

Click to expand...

How many were paying customers? That's always seemed to be the problem. The big crowds were always inflated by free tickets and as the crowds fell the giveaways increased.
 
Reactions: Skyblueweeman, Otis and GaryJones

Calista

Well-Known Member
  • Oct 13, 2022
  • #2,380
Sick Boy said:
I’m sure the decision not to look at buying the stadium was down to Ranson.
Click to expand...
Surely he wouldn't dictate that kind of strategy to Joy, even if her involvement was 'hands off' at the start?
 
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