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Wasps going into admin & the impact on CCFC (12 Viewers)

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

Well-Known Member
  • Oct 14, 2022
  • #2,626
chiefdave said:
emailed mine, they're all conservatives and routinely ignore emails but still got to give it a try
Click to expand...

why you mentioning tories when it’s Labour making all the decisions? Tory councillor says they have no say
 

Nick

Administrator
  • Oct 14, 2022
  • #2,627
Bugsy said:
Just got a responce from my email sent to Mr Duggins

Duggins, George (Cllr)
14:34 (4 minutes ago)
to me

Dear Mr ********

Thank you for your email.

There will be no financial package being made available to Wasps.

Best wishes

George
Click to expand...
Is that serious? Which email address did you send it to?
 

tisza

Well-Known Member
  • Oct 14, 2022
  • #2,628
Travs said:
Thank you.

I was just seeing if there was any angle from the council point of view that they helped bail out CCFC/the construction of the ground.

Seems not.
Click to expand...
Wouldn't have been finished without the original Council finances but it was a business arrangement rather than a handout / bail out
 

Grendel

Well-Known Member
  • Oct 14, 2022
  • #2,629
It would cost £100 million so I doubt it’s going to be a bail out
 

Bugsy

Well-Known Member
  • Oct 14, 2022
  • #2,630
Nick said:
Is that serious? Which email address did you send it to?
Click to expand...


yes it is serious, used this one george.duggins@coventry.gov.uk
 

Nick

Administrator
  • Oct 14, 2022
  • #2,631
Grendel said:
It would cost £100 million so I doubt it’s going to be a bail out
Click to expand...
Guessing it will be something to stop them being relegated and losing the ground.

Whereas when it's ccfc they pull the trigger.
 
Reactions: torchomatic and Skyblueweeman
H

HuckerbyDublinWhelan

Well-Known Member
  • Oct 14, 2022
  • #2,632
Bugsy said:
yes it is serious, used this one george.duggins@coventry.gov.uk
Click to expand...
So what on earth are they meeting for?
 

Liquid Gold

Well-Known Member
  • Oct 14, 2022
  • #2,633
Bugsy said:
Just got a responce from my email sent to Mr Duggins

Duggins, George (Cllr)
14:34 (4 minutes ago)
to me

Dear Mr ********

Thank you for your email.

There will be no financial package being made available to Wasps.

Best wishes

George
Click to expand...
Can you go back to him as he's responding and ask if there is any other kind of support on offer to them?
 
Reactions: Bugsy
D

Deleted member 5849

Guest
  • Oct 14, 2022
  • #2,634
chiefdave said:
Out of 54 councillors 39 are Labour. If they vote in favour of it tonight then that's it.
Click to expand...
GIMOC said:
why you mentioning tories when it’s Labour making all the decisions? Tory councillor says they have no say
Click to expand...
He's mentioning they're Conservatives because they won;t be in said meeting. He's mentioning they never respond to emails as pointing out how even if they did, it would be pointless emailing them.

But he's doing it anyway for shits and giggles.
 
Reactions: Moff, chiefdave, torchomatic and 1 other person

SHUNT31

Well-Known Member
  • Oct 14, 2022
  • #2,635
My guess is they are going to buy back the lease possibly? Is that possible when the lease reverts back to them in the event of insolvency anyway?

Even if so, they that doesn’t cover the issues over the other debt.

Really struggling to understand the motive behind this one.


Sent from my iPhone using Tapatalk
 

jordan210

Well-Known Member
  • Oct 14, 2022
  • #2,636
Grendel said:
It would cost £100 million so I doubt it’s going to be a bail out
Click to expand...

Dint wasps say they just need a bridging loan to keep them going till a buyer is found. or some shite like that
 

Gynnsthetonic

Well-Known Member
  • Oct 14, 2022
  • #2,637
Nick said:
Guessing it will be something to stop them being relegated and losing the ground.

Whereas when it's ccfc they pull the trigger.
Click to expand...
Might be so the council keep hold of the ground to stop it going to a third party
 

jordan210

Well-Known Member
  • Oct 14, 2022
  • #2,638
Jokes on us when the council vote to remove the lease from wasps. wont we all look silly....
 
Reactions: HuckerbyDublinWhelan

Nick

Administrator
  • Oct 14, 2022
  • #2,639
To be fair I got a quick reply. No meeting apparently.
 
Reactions: PUSB-We_are_going_up, torchomatic, TwistAndShoutCCFC1987 and 3 others

SHUNT31

Well-Known Member
  • Oct 14, 2022
  • #2,640
Gynnsthetonic said:
Might be so the council keep hold of the ground to stop it going to a third party
Click to expand...

They have to act in the interests of the tax payer. As they spouted numerous time when selling the lease to wasps in the first place.

Not only that, the bondholders have 1st charge and can force a sale of the lease themselves anyway.


Sent from my iPhone using Tapatalk
 
H

HuckerbyDublinWhelan

Well-Known Member
  • Oct 14, 2022
  • #2,641
Nick said:
To be fair I got a quick reply. No meeting apparently. View attachment 26577
Click to expand...
So what the hell has Gilbert been told?
 
Reactions: wingy
D

Deleted member 5849

Guest
  • Oct 14, 2022
  • #2,642
jordan210 said:
Jokes on us when the council vote to remove the lease from wasps. wont we all look silly....
Click to expand...
Depends for what motive, and with what compensation.
 

SHUNT31

Well-Known Member
  • Oct 14, 2022
  • #2,643
Nick said:
To be fair I got a quick reply. No meeting apparently. View attachment 26577
Click to expand...

Sounds like a backtrack to me



Sent from my iPhone using Tapatalk
 

Liquid Gold

Well-Known Member
  • Oct 14, 2022
  • #2,644
 
S

sotvtoday

Well-Known Member
  • Oct 14, 2022
  • #2,645
oldfiver said:
How are they raping it you clown?
Click to expand...
Management fees.
Loans at excessive interest rates.
Shortly followed by a hefty rental amount.
 

SBS

Active Member
  • Oct 14, 2022
  • #2,646
MalcSB said:
Get in touch with your local councillors and tell them they will lose your vote if this is passed.
Click to expand...

Have done and encourage everyone else to do the same!
 

Ash

Well-Known Member
  • Oct 14, 2022
  • #2,647
Nick said:
To be fair I got a quick reply. No meeting apparently. View attachment 26577
Click to expand...

Has this all been a massive wind up then?!
 

hill83

Well-Known Member
  • Oct 14, 2022
  • #2,648
Nick said:
Is that serious? Which email address did you send it to?
Click to expand...

Offering out free penis extensions and hot single women in your area as well
 
Reactions: Nick

Liquid Gold

Well-Known Member
  • Oct 14, 2022
  • #2,649
SHUNT31 said:
Sounds like a backtrack to me



Sent from my iPhone using Tapatalk
Click to expand...
Hopefully [emoji 63738]
 
H

HuckerbyDublinWhelan

Well-Known Member
  • Oct 14, 2022
  • #2,650
Nick said:
To be fair I got a quick reply. No meeting apparently. View attachment 26577
Click to expand...
Is it worth tweeting this to Gilbert and Bridge see who’s lying then
 

Nick

Administrator
  • Oct 14, 2022
  • #2,651
HuckerbyDublinWhelan said:
So what the hell has Gilbert been told?
Click to expand...
Imagine if sisu told him it to stir up some anger. Would be genius, too genius for them.
 
Reactions: PUSB-We_are_going_up, Moff, Skyblueweeman and 4 others

TomRad85

Well-Known Member
  • Oct 14, 2022
  • #2,652
HuckerbyDublinWhelan said:
So what the hell has Gilbert been told?
Click to expand...
To create mayhem for attention?

Sent from my SM-G973F using Tapatalk
 
Reactions: duffer

Calista

Well-Known Member
  • Oct 14, 2022
  • #2,653
If the purpose of this is some kind of short-term deal to protect the interests of HMRC or to keep the stadium operational, it’s questionable but understandable.

If it’s somehow necessary to reduce the Council’s financial losses (bonds?) it makes the whole monumental cockup even worse.

If it involves injection of funds in an attempt to bail out Wasps and keep them in Coventry it’s probably the most disgraceful decision by a public body I’ve ever known.

And if the effect is to put off new potential investors in the stadium and CCFC I’ll be getting that pitchfork out.
 
Reactions: SkyBlueSam01, duffer, DazzleTommyDazzle and 2 others

Nick

Administrator
  • Oct 14, 2022
  • #2,654
hill83 said:
Offering out free penis extensions and hot single women in your area as well
Click to expand...
Still waiting for my 6 pack tablets.
 
Reactions: duffer and hill83
W

wingy

Well-Known Member
  • Oct 14, 2022
  • #2,655
Bondholders don't get charge over lease acted upon if no administration.
 

Samo

Well-Known Member
  • Oct 14, 2022
  • #2,656
Just received this response from a counselor, looks like the meeting is on:

Dear ......,

Many thanks for your email and passing on your concerns.

I take these considerations very seriously, and I will ensure that your perspective is represented to Council before any decision is made, either this evening or Monday.

Best wishes,
 

Liquid Gold

Well-Known Member
  • Oct 14, 2022
  • #2,657
As Duggins is a mega bastard is he just trying to calm protests/complaints etc. before having the meeting anyway?
 
Reactions: torchomatic and ccfcrob

jordan210

Well-Known Member
  • Oct 14, 2022
  • #2,658
Deleted member 5849 said:
Depends for what motive, and with what compensation.
Click to expand...

 
Reactions: Moff, torchomatic, MacReady and 1 other person

Gynnsthetonic

Well-Known Member
  • Oct 14, 2022
  • #2,659
Nick said:
To be fair I got a quick reply. No meeting apparently. View attachment 26577
Click to expand...
Ffs, I've got 200 eggs in my boot I've just bought
 
Reactions: PUSB-We_are_going_up, Moff, AOM and 10 others

jordan210

Well-Known Member
  • Oct 14, 2022
  • #2,660
Makes it even fishers with some councillors saying its on and other saying it isn't.

So who Is lying
 
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