Wasps current finances & hope (33 Viewers)
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Liquid Gold
Well-Known Member
Fantastic news.
Terry Gibson's perm
Well-Known Member
Wasps mutiny! England stars Elliot Daly and Joe Launchbury set to leave over 'broken promises' on training facilities and contracts
By Chris Foy for the Daily Mail
- Wasps resume their Premiership title challenge against Northampton on Sunday
- But Coventry-based side face growing threat of an exodus of their leading stars
- Players unhappy as they were promised state-of-the-art training facilities in 2014
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Wasps face the growing threat of an exodus of their leading stars, with a mutinous mood in the squad over ‘broken promises’ relating to late payments and new facilities.
Coventry-based Wasps resume their Premiership title challenge on Sunday when they meet Northampton at the Ricoh Arena but there is serious unrest behind the scenes.
Patience is thin, caused by a lack of anticipated investment against a backdrop of financial turmoil. This jars with the perception that the club are enjoying a new era of prosperity.
+4
Wasps face the growing threat of an exodus of their leading stars like Elliot Daly
Sportsmail has learned that marquee players such as Elliot Daly, Joe Launchbury and Christian Wade are expected to leave when their contracts expire unless Wasps address their grievances. Sources have indicated that the discontent and resentment have become so heightened that some fear there will be a flashpoint before most of those deals run out.
The primary gripes among players and coaching staff relate to inadequate training facilities and the backlog in image-rights payments, which are thought to account for about 15 per cent of overall salaries.
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Wasps moved to Coventry at the end of 2014, and owner Derek Richardson pledged that they would have to use a temporary training base for only six months, before a new, state-of-the-art HQ was ready.
Three years on, two sites which were identified have been ditched and a new location is being sought. The message from the hierarchy is that it will be at least another two years before they no longer have to act as reluctant squatters in the basic surroundings at Broadstreet RFC.
+4
Players were promised state of the art training facilities when they moved to Coventry in 2014
There, the supposedly wealthy club have portable cabins serving as offices in the car park. They share changing rooms with Broadstreet teams and use the clubhouse for lunch — ‘It’s like eating in a pub every day we are training,’ said one player.
Outside, Wasps have only one pitch and players have voiced concerns that the tired surface is contributing to a run of injuries.
Misgivings have also been expressed about the state of the pitch at the Ricoh Arena but nothing had been done about it. Instead, urgent work had to be carried out when cracks were found in the walls of the stadium last month.
Sportsmail has been told that image-rights payments were not made to Wasps players for two years. That problem was addressed earlier this season but now it is understood payments are six months in arrears again.
+4
Players could leave when their contracts expire unless Wasps address their grievances
There is a widespread feeling that all areas of expenditure are under pressure and that the academy is being denied vital investment in favour of ‘window dressing’.
Another grievance within the squad was the handling of Sam Jones’s premature retirement. The flanker, who suffered career-ending injuries performing judo drills training with England in 2016, was upset that his wages were halted immediately he announced he had to stop playing.
Team-mates were angry but the board argued that he had been paid in full for 17 months while rehabilitating, when a contract only requires wages to remain at normal levels for six months of inactivity. Still, the saga served to further strain morale — not helped by poor communication between the powers-that-be and the players.
Unrest behind the scenes comes at a time of financial turbulence. Wasps launched a bond scheme in 2015, which yielded £35million, but they owe £2m in interest each year and must settle the debt in full in four years’ time.
+4
Players have voiced concerns that the tired surface is contributing to a run of injuries
Doubts have been expressed by independent experts about their ability to do so, with claims that the club will need to refinance.
At the end of last year, Wasps were forced to seek permission from bond holders to break the terms of the deal after Richardson made a personal payment to make up for a shortfall in the scheme.
Last month, it was reported that Wasps’ financial statements were three months overdue and that Companies House were taking enforcement action against what amounts to a criminal offence.
While the public see a club riding high, with a viable home of their own at last, a title-chasing team and box-office appeal, the reality is that all is not well. It has been suggested that Wasps are at a crossroads and that without the right investment, the feared exodus will happen.
Read more: England stars Daly and Launchbury set to leave Wasps over 'broken promises' | Daily Mail Online
Follow us: @MailOnline on Twitter | DailyMail on Facebook
I wonder when this story will appear in the local rag
Nick
Administrator
Apparently it's SISU's fault all of the accounts are late and the training ground didn't happen.
jimmyhillsfanclub
Well-Known Member
Ha ha ha ha ha......Sweet as......
heres hoping they fail in a big enough way to ensure all the greedy bond holders lose their cash too.....
heres hoping they fail in a big enough way to ensure all the greedy bond holders lose their cash too.....
fernandopartridge
Well-Known Member
It'll appear as a counter story. Nothing to worry about as Wasps wanted rid of Daly etc anyway
SkyblueBri
Well-Known Member
If the story on the Wasps side of this forum is true. If it is we can expect SiSU to carry on as long as possible with appeal after appeal with the objective putting them under more financial pressure. Then pounce it’s what they do to firms in trouble!
Terry Gibson's perm
Well-Known Member
Why would they need investors I thought they are the richest rugby team in the universe
fernandopartridge
Well-Known Member
Apparently Haskell has been scathing on instagram about the non appearance of the £7m state of the art training facility. Not that I have any sympathy with that wanker.
pastythegreat
Well-Known Member
I magnet fish, pull up mostly shit. Hardly anything of interest but keeps the kids busy for a day or 2 during the holidays.
fernandopartridge
Well-Known Member
Bloody hell, somebody on DrunkenWasps is blaming SISU for the release of the story....it did cross my mind but it appears the ridiculous conspiracy theories are not limited to this board.
stupot07
Well-Known Member
Lol, Gaz who used to post on here as a 'cov fan'. No way this has come from sisu. Lol
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italiahorse
Well-Known Member
Already briefed on this 6 months ago.
The only frothing at the mouth is on here and London papers.
Can’t say more than that.
skybluetony176
Well-Known Member
Wasps mutiny! England stars Elliot Daly and Joe Launchbury set to leave over 'broken promises' on training facilities and contracts
By Chris Foy for the Daily Mail
- Wasps resume their Premiership title challenge against Northampton on Sunday
- But Coventry-based side face growing threat of an exodus of their leading stars
- Players unhappy as they were promised state-of-the-art training facilities in 2014
View comments
Wasps face the growing threat of an exodus of their leading stars, with a mutinous mood in the squad over ‘broken promises’ relating to late payments and new facilities.
Coventry-based Wasps resume their Premiership title challenge on Sunday when they meet Northampton at the Ricoh Arena but there is serious unrest behind the scenes.
Patience is thin, caused by a lack of anticipated investment against a backdrop of financial turmoil. This jars with the perception that the club are enjoying a new era of prosperity.
+4
Wasps face the growing threat of an exodus of their leading stars like Elliot Daly
Sportsmail has learned that marquee players such as Elliot Daly, Joe Launchbury and Christian Wade are expected to leave when their contracts expire unless Wasps address their grievances. Sources have indicated that the discontent and resentment have become so heightened that some fear there will be a flashpoint before most of those deals run out.
The primary gripes among players and coaching staff relate to inadequate training facilities and the backlog in image-rights payments, which are thought to account for about 15 per cent of overall salaries.
Share this article
Share
200 shares
Wasps moved to Coventry at the end of 2014, and owner Derek Richardson pledged that they would have to use a temporary training base for only six months, before a new, state-of-the-art HQ was ready.
Three years on, two sites which were identified have been ditched and a new location is being sought. The message from the hierarchy is that it will be at least another two years before they no longer have to act as reluctant squatters in the basic surroundings at Broadstreet RFC.
+4
Players were promised state of the art training facilities when they moved to Coventry in 2014
There, the supposedly wealthy club have portable cabins serving as offices in the car park. They share changing rooms with Broadstreet teams and use the clubhouse for lunch — ‘It’s like eating in a pub every day we are training,’ said one player.
Outside, Wasps have only one pitch and players have voiced concerns that the tired surface is contributing to a run of injuries.
Misgivings have also been expressed about the state of the pitch at the Ricoh Arena but nothing had been done about it. Instead, urgent work had to be carried out when cracks were found in the walls of the stadium last month.
Sportsmail has been told that image-rights payments were not made to Wasps players for two years. That problem was addressed earlier this season but now it is understood payments are six months in arrears again.
+4
Players could leave when their contracts expire unless Wasps address their grievances
There is a widespread feeling that all areas of expenditure are under pressure and that the academy is being denied vital investment in favour of ‘window dressing’.
Another grievance within the squad was the handling of Sam Jones’s premature retirement. The flanker, who suffered career-ending injuries performing judo drills training with England in 2016, was upset that his wages were halted immediately he announced he had to stop playing.
Team-mates were angry but the board argued that he had been paid in full for 17 months while rehabilitating, when a contract only requires wages to remain at normal levels for six months of inactivity. Still, the saga served to further strain morale — not helped by poor communication between the powers-that-be and the players.
Unrest behind the scenes comes at a time of financial turbulence. Wasps launched a bond scheme in 2015, which yielded £35million, but they owe £2m in interest each year and must settle the debt in full in four years’ time.
+4
Players have voiced concerns that the tired surface is contributing to a run of injuries
Doubts have been expressed by independent experts about their ability to do so, with claims that the club will need to refinance.
At the end of last year, Wasps were forced to seek permission from bond holders to break the terms of the deal after Richardson made a personal payment to make up for a shortfall in the scheme.
Last month, it was reported that Wasps’ financial statements were three months overdue and that Companies House were taking enforcement action against what amounts to a criminal offence.
While the public see a club riding high, with a viable home of their own at last, a title-chasing team and box-office appeal, the reality is that all is not well. It has been suggested that Wasps are at a crossroads and that without the right investment, the feared exodus will happen.
Read more: England stars Daly and Launchbury set to leave Wasps over 'broken promises' | Daily Mail Online
Follow us: @MailOnline on Twitter | DailyMail on Facebook
Never mind. Just need people to start boycotting them now and going to watch CRFC or us instead and hopefully that will push them over the edge.
jimmyhillsfanclub
Well-Known Member
The jonny-cum-latelys will all drift away soon enough......now the penny has dropped that wasps are not going to be the new dominant world beaters that the glossy sales brochure promised.....
...fuck all....you're gonna win fuck all.
Esoterica
Well-Known Member
Textbook!
a) Bat it away as old news.
b) Make out that no-one else is really bothered anyway.
c) Hint that there's more that could be said but hands are tied.
fernandopartridge
Well-Known Member
Textbook!
a) Bat it away as old news.
b) Make out that no-one else is really bothered anyway.
c) Hint that there's more that could be said but hands are tied.
Nick
Administrator
Liquid Gold
Well-Known Member
on Drunken Wasps
"This will be a controversial view but I'm afraid none of this surprises me. The move to Coventry was so, so wrong on so many levels and was always going to lead to this. It was financially unsustainable and you can't just rip a club out of its heartland, start somewhere new with no roots, no academy, no local links, no training facilities, a huge stadium to look after on your own and not enough cash. Time for the current owners or someone else to do the right thing and move the club back to London, sharing with either Brentford or AFC Wimbledon in their new stadiums."
"This will be a controversial view but I'm afraid none of this surprises me. The move to Coventry was so, so wrong on so many levels and was always going to lead to this. It was financially unsustainable and you can't just rip a club out of its heartland, start somewhere new with no roots, no academy, no local links, no training facilities, a huge stadium to look after on your own and not enough cash. Time for the current owners or someone else to do the right thing and move the club back to London, sharing with either Brentford or AFC Wimbledon in their new stadiums."
chiefdave
Well-Known Member
As bad as things have ever got for city have we every not paid players for 2 years. Unbelievable even for the CT that this sort of thing has been going on for so long with them claiming everything is fantastic.
Negative post about Wasps and Italia turns up to make his first post for a couple of weeks. Its like clockwork. The alarm must have sounded at Italia towers.
Negative post about Wasps and Italia turns up to make his first post for a couple of weeks. Its like clockwork. The alarm must have sounded at Italia towers.
Pointed this out a while back. Senior people are 'leaving' and not being replaced. It was glossed over as Fisher-esque 'normal business practice'.
Makes a change from having a go at our fans outside the Ricoh.
Not to mention if you're in the 'just want to watch rugby' brigade CRFC are on the up and I bet the beer is cheaper.
chiefdave
Well-Known Member
As much as it was presented as a bright future for Wasps its never stacked up for me how you take a loss making stadco, a loss making rugby club, put them together, add in the need for millions in new facilities and a massive new debt load and claim its plain sailing moving forward.
Would be funny if they ended up having to groundshare in London. Maybe that new stadium right by where they were located for decades that's looking for a rugby club as a tenant, the one they claimed was impossible for them to move to as rugby was prohibited there.
The only downside would be Fisher being right, can you imagine how smug he'll look then.
Nick
Administrator
Suffolk sky blues
Well-Known Member
Sisu never wanted the stadium & it' a white elephant. Get well soon.
Nick
Administrator
Is the bot getting mixed up?
jordan210
Well-Known Member
Ian1779
Well-Known Member
Just with a better PR department.
pastythegreat
Well-Known Member
Dave Boddy is doing a decent Job since his arrival.
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