WASPS Interim Accounts (1 Viewer)

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SkyBlueZack

Well-Known Member
I agree entirely that the club and other clubs have lost sight of what is important to a club. Which is it's fans and the community it sits in. This in part is the knock on effect of the Premiership. Personally I don't think football can stay within the bubble it has lived in for so long. To be brutally honest I can't F'ing wait for it to burst.

Again you are spot on about the wages being the biggest contributing factor to losses but as we have both mentioned if the club hadn't of spent money the fans would be unhappy. It's a chicken and egg situation where something has to give rather than going round in circles. I welcomed the club being run at break even until it turned out arithmetic is another thing SISU aren't very good at. The club needs to develop a solid foundation but as you have mentioned this requires funding which at present is in short supply.

Personally my starting point would be the academy and trying to ensure a higher percentage make the first team. IMO part of that would be to attempt to sign the best the Midlands have to offer across all junior ages. People like Jamie Paterson shouldn't have been allowed to slip through the net. After this it would be non league and players released from other clubs who were determined not good enough. Think Glenn Hoddle stated some players develop at different ages. Not every player will show professional potential at 16, it may take them until they are 19. I'm no financial or sports club expert but surely the financial outlay required wouldn't be too great and it would certainly reap some long term benefit.
 
oldskyblue58

oldskyblue58

CCFC Finance Director
Are either actually hedge funds or are they private equity funds

SISU's speciality I would say is losses, I do not think of them as entrepreneurs . They go in buy the debt low (seemingly without discounting in the target) , drive the costs of a business down and look for a way out that maximises their investors returns over a short time frame. But that's just my opinion

At CCFC did they have any choice but to slash costs, reduce 3rd party debt etc ? They were not going to put any more money in whether by design or simply none available, the alternative if they kept spending was liquidation wasn't it? And it took them 4 yrs to figure it out

You are quite correct fans often rile up when owners don't flash the cash. But how often do owners ignore transparency, fail to communicate, fail to involve their cash cow in the plans? Had SISU dealt with the rent and financial issues at the start where might we be now - could we have been owning the stadium?

Have SISU actually left us with many assets? we don't even have any security of tenure except at Ryton and that's charged to ARVO
 
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NorthernWisdom

NorthernWisdom

Well-Known Member
oldskyblue58 said:
Had SISU dealt with the rent and financial issues at the start where might we be now - could we have been owning the stadium?
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Doubt it. There wasn't a will to sell then, and the deal that involved the stadium was rejected by the freeholders out of hand.

Oh and as for assets, we haven't had any since McGinnity sold all the family silver to stave off the inevitable. Problem is that leaves us only appealing to... the likes of SISU.
 
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SkyBlueZack

Well-Known Member
Have we ever had any assets since selling HR? Speciality is losses? Is that driving them up? ;). They certainly don't seem to have done well at it up until recently. Whilst I agree the financial issues should have been sorted at the start, the stadium is different. We know that the council preferred SISU as they didn't at the time of takeover have much interest in the stadium. Then we have the 24m quote for income rights. So IMO it's difficult to definitevly say either way how it would of panned out. That said they could have still looked at the rental deal and other costs which were able to be reduced.

Most certainly they could have been more open and honest about plans. Don't think we live in that sort of world in general though. Football is becoming ever more detatched from the average fan, how to stop that I have no idea. Money and greed is the priority. In an ideal world the FA and FL would grow a backbone and regulate the game for the good of it. At the same time I might fly to space in a dinghy.........
 
NorthernWisdom

NorthernWisdom

Well-Known Member
It's worth remembering that both offers were considered 'derisory' by the council at the time.

Now, it could easily be argued that part of the problem was an overvaluing of our stock (the same issue our former paymaster had, too) and a lgacy of our status as a top flight club. It could even be argued this overvaluing put off sensible owners rather than carpet baggers but...

Council were never pro SISU!

As an aside, I saw this the other week when uber bored.

[video=youtube;ztliYdgJtKY]https://www.youtube.com/watch?v=ztliYdgJtKY[/video]

Sheldon Yellen was a prime mover behind the Manhatten Group, who did a runner once they found out just how tough a gig it was, with us.
 
oldskyblue58

oldskyblue58

CCFC Finance Director
We wont ever know will we. But things could and should have been so different

I do wish people would let go of that £24m price tag though ....... it was a corridor conversation with no real substance as far as I can see. Negotiations for ownership of ACL (and therefore the income) at lower price took place after that. The 24m was not a barrier to a solution

Think that's enough raking over old coals for me for now. More interested in seeing solutions from where we are now.
 
NorthernWisdom

NorthernWisdom

Well-Known Member
oldskyblue58 said:
Think that's enough raking over old coals for me for now. More interested in seeing solutions from where we are now.
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You see, personally I'm a big fan of using the past to inform the present and the future... ;)

There are certain trends that do come up from that, and that includes... trust no-one:slap: You wouldn't trust SISU because we're not debt free and other assurances, they haven't exactly covered ourselves in glory as custodians. You wouldn't trust CCC as they haven't shown themselves effective custodians of their city's heritage... and you wouldn't trust Wasps as they've shown themselves even more flakey than the two long term protagonists!

So, personally, I reckon that means we have to start opening up to some more left-field solutions, as repeating the failed patterns of the past is to doom us to ever decreasing circles... without even a matching jumper.
 
oldskyblue58

oldskyblue58

CCFC Finance Director
NorthernWisdom said:
So, personally, I reckon that means we have to start opening up to some more left-field solutions, as repeating the failed patterns of the past is to doom us to ever decreasing circles... without even a matching jumper.
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I agree with this certainly
 
O

oldfiver

Well-Known Member
WASPS Holdings Ltd Accounts appear overdue at Companies House. They were due on March 31st - could be in process but if this had been CCFC!!

So are London WASPS Academy Fund Ltd

Also Higgs Charity now 2 months late filing
 
Nick

Nick

Administrator
oldfiver said:
WASPS Holdings Ltd Accounts appear overdue at Companies House. They were due on March 31st - could be in process but if this had been CCFC!!

So are London WASPS Academy Fund Ltd

Also Higgs Charity now 2 months late filing
Click to expand...

You are right, if this was CCFC!
 
skybluetony176

skybluetony176

Well-Known Member
oldfiver said:
WASPS Holdings Ltd Accounts appear overdue at Companies House. They were due on March 31st - could be in process but if this had been CCFC!!

So are London WASPS Academy Fund Ltd

Also Higgs Charity now 2 months late filing
Click to expand...

It would probably be discussed on a CCFC forum!! Shocking!
 
R

ranstone

New Member
oldfiver said:
WASPS Holdings Ltd Accounts appear overdue at Companies House. They were due on March 31st - could be in process but if this had been CCFC!!

So are London WASPS Academy Fund Ltd

Also Higgs Charity now 2 months late filing
Click to expand...

Do you know that neither have been submitted to companies house ? or is it that companies house are late making them available ?
 
Nick

Nick

Administrator
ranstone said:
Do you know that neither have been submitted to companies house ? or is it that companies house are late making them available ?
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BOOM as if by magic that local fella who just has a local interest in the Ricoh (but isn't a Wasps or CCFC fan) is back.

Being so interested in the Ricoh, would have thought you would be commenting on the news yesterday?
 
Nick

Nick

Administrator
italiahorse said:
Here we go.

Bring them down to our level.
Why don't we get off our arses and get up to their level.

FFS some people are so anal !!
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What do you mean by bringing them down to our level? You have made it quite clear plenty of times that if one party does something you find shocking, another can do it and you don't.
 
Moff

Moff

Well-Known Member
italiahorse said:
Here we go.

Bring them down to our level.
Why don't we get off our arses and get up to their level.

FFS some people are so anal !!
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If we get up to their level, that would mean submitting our accounts late then.

FFS some people are so anal and thick. :whistle:
 
Moff

Moff

Well-Known Member
ranstone said:
Thanks Nick ...... Im glad YOU will let me carry on ... thats gracious of you
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Seeing as its his site, I would think he does have a say.

Why not start your own site? then you can do what the fuck you want, without having to make comment on it.
 
Nick

Nick

Administrator
ranstone said:
Thanks Nick ...... Im glad YOU will let me carry on ... thats gracious of you
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So how is your local interest in the Ricoh going? It must be a very good interest to get on and reply to that post within an hour.
 
Nick

Nick

Administrator
Moff said:
Seeing as its his site, I would think he does have a say.

Why not start your own site? then you can do what the fuck you want, without having to make comment on it.
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There is a Wasps forum already isn't there where their fans discuss things?
 
R

ranstone

New Member
Nick said:
There is a Wasps forum already isn't there where their fans discuss things?
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you seem to be quicker here about anything remotely connected to Wasps so its far better here why would I look elsewhere ..... also fun seeing you lot jump out of the woodwork straight on my back .... like a load of school kids jumping on someone in their playground
 
Moff

Moff

Well-Known Member
ranstone said:
I agree .....its far better on here
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Do you want to debate or troll?

You give it out, wanker sign and all that and then give the old look at me everyones having a go when people give some back. We can call each other prick, twat and wanker all day, I dont give a shit or do you want to discuss topics?

I just want to be sure as am happy to discuss and give some piss taking out if you can take it, or just call you a wanker all the time if you are going to spit your dummy out if anyone disgarees.
 
Nick

Nick

Administrator
ranstone said:
you seem to be quicker here about anything remotely connected to Wasps so its far better here why would I look elsewhere ..... also fun seeing you lot jump out of the woodwork straight on my back .... like a load of school kids jumping on someone in their playground
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Erm jump out of the woodwork? Do you mean like you did within minutes of there being a wasps post after not bothering since the last one.

Or do you mean somebody who posts every day on most threads?

I think you are a bit confused.
 
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