Wasps going into admin & the impact on CCFC (10 Viewers)

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1ccfc

1ccfc

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Football_w@nkers said:
Easy to see why nancyball supporters are generally regarded as degenerate scumbags.........Because you all f*cking are! I knew rollover-like-pansie-ball fans are generally c*nts but you foul dickheads are a whole new level of c*ntishness.
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I hope you leave that aggresive attitude at home before attending your next match. You might end up being banned and not able to go anymore.
 
Colin Steins Smile

Colin Steins Smile

Well-Known Member
Football_w@nkers said:
Easy to see why nancyball supporters are generally regarded as degenerate scumbags.........Because you all f*cking are! I knew rollover-like-pansie-ball fans are generally c*nts but you foul dickheads are a whole new level of c*ntishness.
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You seem to be having a bad day. Perhaps you should attend some anger management sessions? I presume you're a bond holder and have been shafted out of a lot of money.
 
duffer

duffer

Well-Known Member
Calista said:
I only recently realised who your avatar is Duffer. Up until that point, I always had you down as just the sort of cool thrusting young entrepreneur who might be hovering with a takeover bid for CCFC.
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Ah, sadly I am precisely everything that my avatar is not. Cool, rich, continental, good looking, hirsute, decent footballer, literally none of those things! 😭
 
A

AndreasB

Well-Known Member
I know with our history we should always be worried but Wasps coming back anytime soon shouldnt be one of the worries. They are finished. Dead from 2PM Monday. The adminstrator will have retained a couple of finance staff (who basically need to hand over their passwords) and maybe someone from comms and HR but thats it. Any players or staff waiting on a call to say its resolved or rescued are deluded. its not how these things play out.Unlike a retailer they are not continuing to trade or generate cash
This is not a going concern that has run into a little cash flow problems, its a failed enterprise that had an impossible business model and a mountain of debt- completely out of control for the actual size of the business.
There will be no money or people to put games on and no insurance or ability to continue.
On the Arena, bet it goes to a company or group we have never heard of. Be amazed if they wanted Wasps around- question is, would they want us?
 
olderskyblue

olderskyblue

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robbiethemole said:
So that was £5.3m that went into the bottomless pit with fuck all to show for it???
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I wonder if there were some “rules” associated with that money? If so, wonder if they abided by them….
 
M

MalcSB

Well-Known Member
oldfiver said:
www.coventrytelegraph.net

Wasps owners unveil plans for Ricoh hotel

Photos show how it could look inside
www.coventrytelegraph.net www.coventrytelegraph.net

www.whatsonlive.co.uk

New hotel in talks to be built at the Ricoh Arena

A new hotel is due to be built on one of the car parks at the Ricoh Arena, if Coventry City Council grant permission to Wasps Holdings Ltd. It is likely that the cabinet will agree to a new long lea...
www.whatsonlive.co.uk www.whatsonlive.co.uk

see the shuffle?
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Very fluid. Wasps a convenient smoke screen behind which all sorts of stuff has gone on - including the £35m bond.
 
Nick

Nick

Administrator
Sheridan, meanwhile, also confirmed FRP are looking at the possibility of avoiding relegation on appeal, as they look to prove the insolvency event was out of the club's control.

"Already we've had the necessary criteria and forms sent to us by RFU head of legal," he said.

"It's quite a process and something we will look at applying for."
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Yet you have the accounts and CEO saying how unviable it was even before Covid.
 
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MalcSB

Well-Known Member
Just listened to most of “Rugby Pod” on Amazon Prime. Long interview with Vaughan. Richardson said that he wasn’t going to put any more money in some time ago (without his guarantee the auditors wouldn’t be able to sign off accounts on going concern basis). Richardson sees that the value is in the sale of the arena so he can get back some money (surely doesn’t suggest he is going to buy it himself). After the interview, one of the presenters, with admirable use of the f word, said that there should be an investigation in to the wrapping around the rugby club with a £35m bond scheme, of which £15m went back to Richardson himself.

Theres 40 minutes I won’t get back.
 
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Kneeza

Kneeza

Well-Known Member
duffer said:
I think he shortens it for convenience. 🙂

He is literally massive, not one of their absolute stars, props rarely are, but definitely not someone they'd want to lose.
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Not as massive now as when he first signed for Cov. I reckon he dropped a couple of stones while he was at the BPA, and no doubt more since he moved. Never impressed much, either, so he's evidently improved if he can shift up to Top 14 French standards.
It'll be interesting to see if he can.
 
tisza

tisza

Well-Known Member
MalcSB said:
Just listened to most of “Rugby Pod” on Amazon Prime. Long interview with Vaughan. Richardson said that he wasn’t going to put any more money in some time ago (without his guarantee the auditors wouldn’t be able to sign off accounts on going concern basis). Richardson sees that the value is in the sale of the arena so he can get back some money (surely doesn’t suggest he is going to buy it himself). After the interview, one of the presenters, with admirable use of the f word, said that there should be an investigation in to the wrapping around the rugby club with a £35m bond scheme, of which £15m went back to Richardson himself.

Theres 40 minutes I won’t get back.
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There is around 30 million owed to Richardson personally and his Maltese hedge fund.
 
duffer

duffer

Well-Known Member
olderskyblue said:
Duffer’s made a killing on these projects….
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Hey. That's full size that is, it's just the photo is taken from very far away.

It's constructed of sustainable pine and everything.

I built it just outside the city boundary so that the council couldn't scupper the planning permission.

As soon as Joy sends me the money I'll tell her the exact location and post over the keys.
 
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