clint van damme
Well-Known Member
Can anyone think of another 'journalist' who has restrictions on who can reply to their tweets?
Wasps downward spiral... (14 Viewers)
- Thread starter CCFC54321
- Start date
Nick
Administrator
Almost like he knows people will ask him about the Wasps stuff.
slyblue57
Well-Known Member
Over thinking there. It benefits London Wasps , what more could the Council want ?
NorthernWisdom
Well-Known Member
Brighton Sky Blue
Well-Known Member
NorthernWisdom
Well-Known Member
Anybody with enough followers can apply.
Sounds like buying time whilst the grant application is considered by WMCA.
Gynnsthetonic
Well-Known Member
Waiting for councils investment then
Liquid Gold
Well-Known Member
So are wasps attempting to delay payment essentially indefinitely until unknown funding is secured while the bond holders are unable to call in their debt.
Seems dodgy as fuck.
Seems dodgy as fuck.
NorthernWisdom
Well-Known Member
I'd assume that, as long as you're getting your interest payments added on, the lesser of the evils is to hold tight and hope it works itself out, anyway?
Terry Gibson's perm
Well-Known Member
No sympathy for the bond holders greedy bastards hopefully they have another shitty month wondering when and if they will get anything back.
Of which £195 they paid to them selves - until the loan repaid
Grendel
Well-Known Member
Couldnt some be in pension funds?
RHS in Yellow
Terry Gibson's perm
Well-Known Member
Possibly but if it was part of my fund it would be tiny, the individual investors deserve to lose they will mostly be rich people trying to get richer pure greed I wonder how our old friend Italia feels
clint van damme
Well-Known Member
you're all heart mate!
The waste of space blocked me on Twitter as I had the cheek to ask him about wasps finances. What’s that say about him?
Gynnsthetonic
Well-Known Member
Out of the initial 35m investment wasn't this used to pay the interest payments and pay back Richardsons loan, the Wasp company is insolvent, do not know why HSBC would be willing to loan money whether Wasp get the grant or not.
WMCA waiting to get Commonwealth Games out of way ?
Gynnsthetonic
Well-Known Member
They've said they now expect the Bonds to be paid on or before 12th August while due diligence takes place from HSBC, that's the statement they said in May about being paid on or before 30th June. This could just go on and on.
Something has probably come up in the due diligence carried out so far - like the need for repairs to the principal asset.
That should not be funded by taxpayer!
Gynnsthetonic
Well-Known Member
Hopefully it won't, how can a franchise rugby club that nobody in the area wants be gifted local tax payers money is beyond me
Sky Blue Harry H
Well-Known Member
Late to the party, but if I've understood it right, HSBC will probably give Wasps a loan, if they get a W Mids grant to repair 'their' stadium. I assume interest repayments on any loan will be increasing month on month at the moment (inflation increasing all the time). Even if they get the loan, surely they are going to be getting squeezed further regarding income/expenditure. Can't see why anybody would be happy giving them a loan based on their current trajectory. Presumably they can't use the stadium as a guarantee, as I thought the Council ought to have a view/stake in that?
chiefdave
Well-Known Member
I find it bizarre. This isn't borrowing a tenner off your mate who can't pay you back. How can they just keep saying we'll pay it back later?
It says further update but they're not really provided much of an update past we don't have the money come back later have they?
On that bond holders board nobody can get hold of anyone to enquire about doing anything
That’s the theory but would HSBC be satisfied with them being propped up by a council grant? What would that say about the viability of wasps/the stadium business over the length of the financing scheme?
Wonder why it should be a grant? Straight gift to go with the other "gifts" to improve the stadium. At this rate they will be given more than they paid for i!
skybluesam66
Well-Known Member
and a refinance in 2 months time will be more expensive than a refinance 2 months ago
another court case from Sisu ?
Not just SISU - every other sports provider in the city plus struggling businesses and potentially, ratepayers watching their hard earned going to a lost cause!
