Ian1779
Well-Known Member
Nick Eastwood revealed to be Dale Evans in a Scoody-Doo style twist.
'I would have got away with it if it wasn't for those pesky Cov fans'
Wasps current finances & hope (14 Viewers)
- Thread starter oldskyblue58
- Start date
'I would have got away with it if it wasn't for those pesky Cov fans'
Ian1779
Well-Known Member
Yeah a definite step up from Fisher.
fernandopartridge
Well-Known Member
Far from ideal is still pretty damming considering they needed to be on an upward curve
Nick
Administrator
Plus the fact the "we understand" means "We have no idea, but somebody at wasps gave us this to post to make it seem a bit better".
Far from ideal like you say is just what it says on the tin, not very good. Especially with how late they are.
"We understand the accounts will be submitted in the next few days and, while containing far from ideal figures, their content is not as damning as is being speculated"
What are the "speculated" results and where are they being quoted?
Does this mean the EBITDA cover for the Bond Holders falls short again?
Still does not explain why WASPs FINANCE PLC accounts cannot be filed without the remainder
Nick
Administrator
Even though I did give Gilbert loads of stick he was the only person who at least half dug into things sometimes. Now it is full of content writers how are they going to attempt to read and process accounts rather than just get a comment from somebody at Wasps and paste it up?
skybluesam66
Well-Known Member
so either
a) they will be desperate for us to continue playing there, and so a further deal will be signed or
b) they will be in such a mess, that they will want to take us down with them
a) they will be desperate for us to continue playing there, and so a further deal will be signed or
b) they will be in such a mess, that they will want to take us down with them
fernandopartridge
Well-Known Member
Who is going to take on those retail bonds though? Unless somebody could agree an early settlement with the bondholders?
There is an early settlement clause in the Prospectus - last line is interesting
Optional early repayment by Issuer The Bonds may be redeemed (i.e. repaid) early, at any time on or after the interest payment date falling on 13 May 2019 at the following applicable redemption prices (as set out in the table below), plus accrued and unpaid interest on the Bonds (if any), up to the applicable date fixed by the Issuer for redemption. The applicable redemption price is determined by reference to the date fixed for redemption occurring in a relevant six month interest period beginning on the scheduled ‘interest payment date’ indicated below: Interest Payment Date Additional Redemption/Bonus Amount Redemption Price (percentage) 13 May 2019 ......................................................... 5.85% 105.85
13 November 2019 ............................................... 5.36% 105.36
13 May 2020 ......................................................... 4.88% 104.88
13 November 2020 ............................................... 4.39% 104.39
13 May 2021 ......................................................... 3.90% 103.90
13 November 2021 ............................................... 3.41% 103.41
Optional early repayment by Issuer for tax reasons In the event of certain tax changes caused by any change in, amendment to, or application or official interpretation of the laws or regulations of the United Kingdom on or after the Bonds have been issued, the Bonds may be repaid if the Issuer chooses to do so in whole, but not in part, at any time. The redemption price in these circumstances is at the nominal amount of the Bonds plus accrued interest (if any) as at the relevant time. Optional early repayment by the Bondholders If a Change of Control Put Event or a Change of Business Event (each as described below) occurs, a Bondholder may elect for its Bonds to be repaid at their nominal amount plus accrued interest. If 80 per cent. or more of the Bonds originally issued have been repaid in this way, the Issuer may, if it chooses to, repay all the remaining Bonds at their nominal amount plus accrued interest. A “Change of Control Put Event” might be expected to occur if a takeover or merger of Wasps Holdings leads to the acquisition of over 50 per cent. of the voting
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share capital of Wasps Holdings by any one entity (or by any group of entities acting together) other than by an entity that has been approved by the Professional Game Board and the Rugby Football Union for the purposes of owning a Premiership Rugby Club. A “Change of Business Event” might be expected to occur (a) if Wasps Holdings and/or ACL engage in businesses other than those carried on by them, or incidental to those carried on by them, on the date that the Bonds are issued and/or (b) if Wasps Rugby Club relocates, whereby the Arena ceases to be the club’s principal home rugby match fixture ground.
fernandopartridge
Well-Known Member
Indeed, thanks
italiahorse
Well-Known Member
I only turned up bacause my name was mentioned by your leader.
As I said the only people frothing on this are on here, in the London papers, a player not required next year and now I see one disgruntled fan from Oxfordshire.
Earlsdon_Skyblue1
Well-Known Member
This is pleasing.
A CCFC promotion and more negative press for them and we will start to see some of the traitors ship back to watching the football.
I can't imagine Wasps leaving Coventry, how would it be? We can hope though.
A CCFC promotion and more negative press for them and we will start to see some of the traitors ship back to watching the football.
I can't imagine Wasps leaving Coventry, how would it be? We can hope though.
Nick
Administrator
How are you getting the alerts when somebody types italia in a post?
The only people playing it down are you and the Telegraph.
Liquid Gold
Well-Known Member
I hope they go pop and anybody that supported the move bangs their toe on the coffee table everyday for the rest of their life
CCFC_Charlie
Well-Known Member
I see our own Wasps one man propaganda machine is back out in full force. I'm sure we'll soon find out how Wasps haven't been filing their accounts because they've been busy personally funding a cure for cancer, or have been donating hundreds of millions to sick kids in Africa.
fernandopartridge
Well-Known Member
It'd be like Mark Robins responding to a story about SISU
Nick
Administrator
Exactly, plus saying "they signed new contracts" doesn't really mean anything in this day and age does it so doesn't rule out anything that's been said in other articles.
Also, their training ground was advanced as our stadium was. Pretty advanced would mean it was nearly built.
jordan210
Well-Known Member
Apparently from what iv been told is yes the players have signed new contracts but with he training ground/other issues as a clause in the contact and they can walk if needs be.
I am not frothing but I see you have not answered my question about the non filing of accounts
As you are in the know
fernandopartridge
Well-Known Member
They signed contracts some months ago, possibly before the issues over the bond etc became public. How long is it since they dropped the AHC project?
Nick
Administrator
Oh and just for Italia.
There's a website called RugbyPass all over it to play it down, strangely enough there's a bloke called Andy Goode who is involved that that site. Ever heard of him?
That's aside from the Telegraph who's last Rugby reporter is now doing the PR for Wasps and get a chunk for advertising who are also playing it down.
Then we have Italia...
Anybody noticing the pattern of people who were straight out to play it down?
There's a website called RugbyPass all over it to play it down, strangely enough there's a bloke called Andy Goode who is involved that that site. Ever heard of him?
That's aside from the Telegraph who's last Rugby reporter is now doing the PR for Wasps and get a chunk for advertising who are also playing it down.
Then we have Italia...
Anybody noticing the pattern of people who were straight out to play it down?
Terry Gibson's perm
Well-Known Member
Terry Gibson's perm
Well-Known Member
It would be a great day to see the greedy bond holders lose everything as well as these magpies heading elsewhere
Earlsdon_Skyblue1
Well-Known Member
chiefdave
Well-Known Member
You say 'only' but if the national press and our own players were saying similar against us there would be uproar.
They haven't filed accounts, haven't built their promised training ground, haven't been doing anything but the absolute minimum in terms of maintenance at the Ricoh, have been getting rid of staff, owe money to the players and have current players (a player who lets not forget was being lauded as a Wasps legend when he was having a pop at our fans) taking digs at the club for bullshitting to players.
In response they can't even get their chief exec or someone high ranking to make a statement with any substance in it. Instead they've gone for 'nothing to see here' from there manager. Imagine if Fisher sent Mark Robins out to make statements on the JR!
Skyblueweeman
Well-Known Member
I wouldn't be harsh on the bondholders...they're just investors taken in by some lofty promises. They probably weren't aware or didn't consider the consequences of things not going right (ie, lack of success on the pitch).
Same as their fans...the London ones anyway. I don't wish to see issues for any 'real' fans.
The club as a whole though....hope this is all leading to something and they end up flying back to London. I can't see it though...
Same as their fans...the London ones anyway. I don't wish to see issues for any 'real' fans.
The club as a whole though....hope this is all leading to something and they end up flying back to London. I can't see it though...
Nick
Administrator
Yeah but are the seats staying blue because they love CCFC?
The Wasps PR office will be sat thinking of a way to blame CCFC / SISU for it.
What ever happened to this :
• The commitment that any deal relating to the Ricoh Arena would not be approved unless the following three tests were satisfied: (1) A good deal for the City (2) The security and future of Coventry City Football Club (3) The security and future of Coventry Rugby Club • The need to ensure the continued regeneration in the North East of the City. • The long term commitment to the City given by Wasps, who are focussed onthe success of their Club and were committed to delivering an ambitious programme for the community and to bringing more sport to Coventry. • The expectation that the Ricoh Arena could now go from strength to strength, raising Coventry’s profile both nationally and internationally. • The intention of Wasps to develop the Ricoh Arena as a conference centre plus a training facility in the future would benefit the City
They are now talking of Leamington ????
Moff
Well-Known Member
Thought the Mail is a national paper, and Chris Hoy is probably one of the Uk's most eminent Rugby journalists, but you carry on and dismiss them.
Oh well of course you are in the inner circle and know better. I bet all Wasps fans over the UK will feel better as Italia says all is well. :emoji_laughing:
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jimmyhillsfanclub
Well-Known Member
Nah....the investors helped to finance the franchising of a historic sporting club to the detriment of 2 or more existing & indigenous historic sporting clubs.....all for the promise of a return that looked, to most, to be too good to be true.....
I say they're greedy mugs with a dodgy moral compass.......fuck 'em.