Wasps going into admin & the impact on CCFC (6 Viewers)

[TomRad85]

Looks like admin.

Maybe it isnt somebody taking it over before admin.

I don't even know what's good news and what's not anymore..

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[The Philosopher]

I’m going to repeat earlier thoughts:

Lease sold before admin and then ACL to admin.

MA is sweeting council to assign by pledging to base Frasers in the city (I kinda said that).

Let’s see. Might be wrong. Sometimes that happens.

 

[Colin Steins Smile]

That reads as admin. I'm not surprised, as why would anyone want to buy it with the debt attached?
A stadium with no debt attached = more attractive.....even when it needs a bit of maintenance and aa lot of horrible wasps signs needing removal

 

[The Philosopher]

None of you seem to get that the assets can be sold so long as there is a fair process and ACL could go straight to admin straight after.

 

[slowpoke]

Could someone else come in and try and buy the football club once they know the situation with the ground

 

[jordan210]

https://caseboard.io/cases/?prod_caseboard_cases[query]=arena

Is this admin? No NOI?

View attachment 26955

The notice was filed by Burges Salmon diffrent company to who did wasps

 

[Nick]

The notice was filed by Burges Salmon diffrent company to who did wasps

LEEEEE Burge

 

[wingy]

Looks like admin.

Maybe it isnt somebody taking it over before admin.

NEC out.
But looks like the admin is after securing the deal with Ashley.

 

[Nick]

NEC out.
But looks like the admin is after securing the deal with Ashley.

Wheres it said about NEC?

 

[Liquid Gold]

None of you seem to get that the assets can be sold so long as there is a fair process and ACL could go straight to admin straight after.

It’s something I mentioned earlier.

I just don’t see why Richardson would go for it. Money in ACL after the sale would go straight to creditors.

 

[skybluetony176]

The notice was filed by Burges Salmon diffrent company to who did wasps

Noticed that. Assume it’s the administers legal firm.

 

[Liquid Gold]

NEC out.
But looks like the admin is after securing the deal with Ashley.

Where have you heard that?

 

[wingy]

Could someone else come in and try and buy the football club once they know the situation with the ground

You'd expect and hope so.

 

[Earlsdon_Skyblue1]

They could at least let the players get off the pitch before they shut the fucking thing down.

 

[skybluetony176]

I don't even know what's good news and what's not anymore..

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You aren’t alone. It’s movement at least.

 

[jordan210]

Noticed that. Assume it’s the administers legal firm.

Yeah it’s a different law firm

Oddly also in Bristol

 

[Liquid Gold]

Is there an 22pm deadline for something to happen or can we just basically ignore things until tomorrow?

 

[wingy]

Where have you heard that?

Telegraph article a few posts up the thread.
Just before the admin notification.

 

[Calista]

Wheres it said about NEC?

The article says "The exhibitions giant NEC Group reportedly expressed interest in the sale early on, but is now said to have dropped out. "

 

[Liquid Gold]

Yeah it’s a different law firm

Oddly also in Bristol

Maybe I’m Richardson

 

[Nick]

The article says "The exhibitions giant NEC Group reportedly expressed interest in the sale early on, but is now said to have dropped out. "

All the different wordings

"Expressed interest"
"Lodged a bid"

Did they put in an actual bid or just say they are interested?

 

[The Philosopher]

It’s something I mentioned earlier.

I just don’t see why Richardson would go for it. Money in ACL after the sale would go straight to creditors.

It’d be a Bondholders Trust decision to release the charge if the £35m isn’t met. If the price is less than £35m then it’s down to charge holders I guess.

Let’s see.

 

[steve cooper]

Wheres it said about NEC?

Post 8477 Telegraph report

 

[skybluetony176]

Yeah it’s a different law firm

Oddly also in Bristol

Think that’s where the administrator is based so ties in.

 

[Nick]

Maybe I’m Richardson

 

[Calista]

All the different wordings

"Expressed interest"
"Lodged a bid"

Did they put in an actual bid or just say they are interested?

Dunno

 

[The Philosopher]

Sounds like Ashley.

He’s played the “assign the lease to me and I’ll base Frasers : Sports Direct here and bring loads of jobs to Cov for your students and that” card.

so that the council will assign.

 

[Brighton Sky Blue]

Sounds like Ashley.

He’s played the “assign the lease to me and I’ll base Frasers : Sports Direct here and bring loads of jobs to Cov for your students and that” card.

so that the council will assign.

That's not really a card as much as it is a full hand

 

[Esoterica]

Well 3 points and admin. Decent nights work! I mean I think that's good. Or at least I'm telling myself that's good. It's good. Definitely. Isn't it?

 

[Evo1883]

Where have you heard that?

Article

 

[jordan210]

I guess the real fun and games start now.

 

[SHUNT31]

Could be that a deal has been agreed already with Ashley though or not? Hate not knowing

 

[Evo1883]

So is anybody hopeful the football Club will be purchased along with it all ? All I care about really

 

[ccfcchris]

All this crap ends up giving me a headache. No football fan deserves to go through this bollox. All we want is to support the team and hope they're successful.
Well done to the boys tonight getting 3 points.

 

[Brighton Sky Blue]

So is anybody hopeful the football Club will be purchased along with it all ? All I care about really

It will either be a pre packed administration with Ashley taking the spoils, or proper administration where it turns into a bidding war