Club aims to raise £35m from bond (6 Viewers)

[skybluetony176]

Can picture the scenario now

Wasps 'We wanted CCFC to stay, CCFC walked away from the Ricoh' (whilst declining to mention that they wanted them to stay on the basis that the rent is jacked up 10x and we no longer get a share of match day revenues)

Then everyone goes crazy and blames Fisher

Although I've already said I would attend sixfields and I would under these circumstances. Let's not try and kid ourselves that he hasn't played his part in steering us to the position we currently find ourselves in. Any blame he gets he's earned.

 

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[Grendel]

Under these circumstances we would really be homeless so unlike last time when we wasn't I wouldn't have any qualms about going. Just the opposite. I'd see it as my duty.

Northampton is too far out though. For most fans it's impractical - also who can really rely on fisher selling the dream?

Hinckley is probably the only (slightly) viable alternative and the club should try and go now.

 

[Broken Hearted Sky Blue]

Northampton is too far out though. For most fans it's impractical - also who can really rely on fisher selling the dream?

Hinckley is probably the only (slightly) viable alternative and the club should try and go now.

That would also be the end

 

[SkyBlue_Bear83]

Although I've already said I would attend sixfields and I would under these circumstances. Let's not try and kid ourselves that he hasn't played his part in steering us to the position we currently find ourselves in. Any blame he gets he's earned.

I'm not kidding myself or anyone, Fisher is a clown. Just making the point that in the hypothetical scenario a lot would blame SISU/Fisher for it whilst singing Wasps praises.

 

[stupot07]

Not necessarily a question to OSB but could this be a backdrop for a hostile takeover of CCFC? What would SISU's other options be? Build anew? Keep funding losses back at Sixfields while try to work out A) WTF just happened and B) WTF do we do now?

Can't see it Tony. I think we have to take them at face value when they say they're not interested in buying the football club. I keep saying this, but it makes no financial sense especially give the fact they have no money.


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[Grendel]

That would also be the end

No it shouldn't be. The club could still eventually recover. The history around wasps has spiv written all over them. Also rugby is a fringe sport and like cricket will enjoy financial highs but have troughs as well. The club could long term still get through if the will was there.

 

[Grendel]

Can't see it Tony. I think we have to take them at face value when they say they're not interested in buying the football club. I keep saying this, but it makes no financial sense especially give the fact they have no money.


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There can't be a hostile takeover anyway as Sisu own all shares.

 

[SkyBlue_Bear83]

Can't see it Tony. I think we have to take them at face value when they say they're not interested in buying the football club. I keep saying this, but it makes no financial sense especially give the fact they have no money.


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Wasps raise £35 million from sale of bonds
Buy out SISU with said money
We get back to back promotions to the premier league
Everyone gets paid back using Sky and BT money
Everyone rolls around in cash

Sounds like an action plan to me.

 

[NorthernWisdom]

Nortern as from saturday gone where will they get the money to keep the club going till August,if people are telling the truth which I dont doubt ST sales will go through the floor so they wont be able to rely on that cash:thinking about::facepalm:

Maddison.

And next to no players on the books.

Plus we were cash flow positive for one halcyon month

 

[stupot07]

Wasps raise £35 million from sale of bonds
Buy out SISU with said money
We get back to back promotions to the premier league
Everyone gets paid back using Sky and BT money
Everyone rolls around in cash

Sounds like an action plan to me.

Just need to start winning.....


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[SkyBlue_Bear83]

Just need to start winning.....


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Easy mate, we will storm back to the premier league.

 

[Broken Hearted Sky Blue]

No it shouldn't be. The club could still eventually recover. The history around wasps has spiv written all over them. Also rugby is a fringe sport and like cricket will enjoy financial highs but have troughs as well. The club could long term still get through if the will was there.

Grendel how much more can this club take? It went from 11'12000 to 2/3000 when we went to Sixfields,its now 8/9000 with loads not renewing we go anywhere else we'll be 1/2000 that is pretty much the end,

 

[James Smith]

6.5% with no security against a company who have very nearly gone to the wall once, and are currently reliant on the whim of an individual owner to survive, isn't high enough for me.

I note the original page is down at the moment - http://www.wasps.co.uk/the-club/bonds - insert own conspiracy theory here, but if I was from the council I wouldn't have been overly happy with the initial claim on that page that the bond was secured against the Ricoh Arena. That's not really true.

Edit: They've moved the page now - http://www.wasps.co.uk/bonds/secured-bonds - not sure if the wording has changed, it still implies the Ricoh Arena is being used as security to me though. A bit naughty, imho, but the detail is in the small print elsewhere no doubt.

Yeah I read it as secured on the Ricoh too and thought it at best misleading.......

 

[Grendel]

Wasps raise £35 million from sale of bonds
Buy out SISU with said money
We get back to back promotions to the premier league
Everyone gets paid back using Sky and BT money
Everyone rolls around in cash

Sounds like an action plan to me.

There is of course the real worry they could use this to get the club.

A separate CCfc owned subsidiary with £1.3 million rent pumped in to a loss making forever division one club may fit the plan perfectly....

 

[Broken Hearted Sky Blue]

Maddison.

And next to no players on the books.

Plus we were cash flow positive for one halcyon month

They've already spent the Maddison money.

 

[Ian1779]

They've already spent the Maddison money.

So you're the accountant... or just guessing as you go along?

 

[Broken Hearted Sky Blue]

There is of course the real worry they could use this to get the club.

A separate CCfc owned subsidiary with £1.3 million rent pumped in to a loss making forever division one club may fit the plan perfectly....

Or a premier league football club together with a premiership rugby club now that would be an even better plan.

 

[Broken Hearted Sky Blue]

So you're the accountant... or just guessing as you go along?

Joke

 

[Ian1779]

Joke

Sorry.... should have spotted it.

 

[Broken Hearted Sky Blue]

Sorry.... should have spotted it.

Its alright everybody is a bit touchy.

 

[SkyBlue_Bear83]

Its alright everybody is a bit touchy.

u wot m8?

 

[Broken Hearted Sky Blue]

u wot m8?

Right outside wherever you are:slap:

 

[skybluetony176]

There is of course the real worry they could use this to get the club.

A separate CCfc owned subsidiary with £1.3 million rent pumped in to a loss making forever division one club may fit the plan perfectly....

Would they even be able to do that legally? They're not selling the bonds under the premise of using the funds to buy a football club.

 

[Grendel]

Would they even be able to do that legally? They're not selling the bonds under the premise of using the funds to buy a football club.

You don't need a premise just investors. All looks odd as I cannot believe they don't have the funds to meet loan repayments agreed less than 6 months ago.

 

[Broken Hearted Sky Blue]

You don't need a premise just investors. All looks odd as I cannot believe they don't have the funds to meet loan repayments agreed less than 6 months ago.

Come on it involves the Ricoh and us it would be odd if it wasn't odd.

 

[NorthernWisdom]

Come on it involves the Ricoh and us it would be odd if it wasn't odd.

That is indeed true!

You do wonder what's going on though. Why adjust the repayment terms to CCC at all if it's all being repayed in a completely different way, anyway?

Actually, I can come up with the odd cynical conspiracy theory about why but then I'd have Tony banging on about tinfoil hats and SISU RAWRRR...

 

[skybluetony176]

That is indeed true!

You do wonder what's going on though. Why adjust the repayment terms to CCC at all if it's all being repayed in a completely different way, anyway?

Actually, I can come up with the odd cynical conspiracy theory about why but then I'd have Tony banging on about tinfoil hats and SISU RAWRRR...

Speak to grendull. He does a cracking line of tin foil hats designed to stop the subliminal messages coming from the CET sponsored by the CCC.




PS. There's a song in there somewhere (almost) I wonder if anyone can name the song and band"

 

[Broken Hearted Sky Blue]

That is indeed true!

You do wonder what's going on though. Why adjust the repayment terms to CCC at all if it's all being repayed in a completely different way, anyway?

Actually, I can come up with the odd cynical conspiracy theory about why but then I'd have Tony banging on about tinfoil hats and SISU RAWRRR...

If you look at the amount isn't it pretty much that OSB reckons is the total cost to Sisu or am I mistaken,then again could have been someone else.

 

[James Smith]

Or lose nothing and keep all of my £2000 nothing is sure in life.

Except your money will be eaten at by inflation if under the mattress, the amount you can buy with it will diminish.

 

[lordsummerisle]

I'm surprised that Richardson isn't leaving his £10 million in the bond scheme to be honest, £650,000 a year for 7 years and his £10 mil safe as houses with the richest rugby club in the World.

Would give other investors confidence that he was putting his money where his mouth is, rather than appearing to take his money away from where his mouth is.

 

[Broken Hearted Sky Blue]

I'm surprised that Richardson isn't leaving his £10 million in the bond scheme to be honest, £650,000 a year for 7 years and his £10 mil safe as houses with the richest rugby club in the World.

Would give other investors confidence that he was putting his money where his mouth is, rather than appearing to take his money away from where his mouth is.

Perhaps its 45 million really

 

[duffer]

Except your money will be eaten at by inflation if under the mattress, the amount you can buy with it will diminish.

Although currently we might be in for a bit of deflation. As city fans we're used to being deflated...

Regardless, even without the politics I think the money would be safer under the mattress than in Wasps bonds.

 

[Terry Gibson's perm]

Except your money will be eaten at by inflation if under the mattress, the amount you can buy with it will diminish.

Will take a while though I could lose it all on the first day in this scheme and the extra comfort would nice

 

[hutch1972]

Not too far off the ill fated operation premiership scheme , and we all know how that ended up.

 

[James Smith]

I think it went something like this:

Wasps: We want the Ricoh
CCC: OK.
Wasps: Great, thanks.
CCC: Wait a minute, you're nothing to do with SISU, are you?
Wasps: Who? Er, no. Do you want to see proof of our financial health, etc
CCC: Nah.
Wasps: Great, thanks.
CCC: You sure you're nothing to do with SISU?
Wasps. No, honestly.
CCC: Fine. 250 years OK? Nice doing business with you.

CCC: Not moving your team very far to be here are you?
Wasps: A few miles.
CCC: Oh okay, that's fine.
Wasps: [Under their breath] from High Wycombe
CCC: Did you say something?
Wasps: Oh just that we have been temporarily based in High Wycombe whilst looking for/trying to build a stadium.
CCC: Oh okay, that's fine.
Wasps: Great, we moved there from London.
CCC: Oh okay, that's fine.
Wasps: Seriously?
CCC: Yeah we've only got a problem with Sisu doing that stuff.
Wasps: Seriously?
CCC: Yep.
Wasps: Are you on any prescription medication.
CCC: No
Wasps: Anything that isn't prescribed?
CCC: No
Wasps: Shame, fancied some of that
CCC: So when can you move in?