They’ve not issued the consent solicitation Sam. They’re
working on it concurrently. Question for you Sam. If Wasps fail what do you think the outcome for CCFC will be? However balanced you try to portray yourself (not sure why) it’s obviously the outcome you want - I’m just not sure why. It would be disastrous for CCFC.
Oh dear Shugs, didn’t you notice the word “previous”. I was talking about the consent solicitation which was issued on 6 October 2020 which sought to release Wasps from certain financial covenants in the original bond agreement and which was approved by a small number of bondholders, with what seems like a significant number of them not having had it brought to their attention by their brokers.
Third party ownership of the stadium would be fine by me, with the third party providing a decent pitch without the football club, with its own cash flow issues, having to stump up the cost up front.
Apologies, my natural assumption was that it was a relevant issue you were raising. Just so we have a balance though and not supposition masquerading as facts. We have no idea how many bondholders agreed to it. We have no idea if and how much CCFC paid for the pitch and there is zero chance of third party ownership in reality, outside of Wasps.
It is a relevant issue in that, having been bypassed previously and not trusting Wasps, the bondholders are organising themselves so that they can act as and when they deem fit.
The fact that insufficient bondholders voted at the first opportunity to do so on that consent solicitation, such that it had to go to a meeting where no quorum was required, is reasonable evidence that a minority voted for it.
Boddy has confirmed that the upfront costs were met by the football clubs, with the money to be recouped from future invoices.
Are you seriously suggesting that nobody would buy the arena if the bondholders forced a sale?
Always a Wasp
