Wasps current finances & hope (9 Viewers)

[Captain Dart]

If Rugby kills itself I won't be shedding any tears.

 

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[Terry Gibson's perm]

Losing at the moment in front of their big crowd shows it’s not just our players freeze in front of big crowds at the ricoh

 

[Nick]

Losing at the moment in front of their big crowd shows it’s not just our players freeze in front of big crowds at the ricoh

It's probably the same people turning up for the bandwagon.

 

[ccfchoi87]

Losing at the moment in front of their big crowd shows it’s not just our players freeze in front of big crowds at the ricoh

Tbf they're pretty shite in front of small crowds too.

 

[chiefdave]

Noticed on the Telegraph site that since Wasps took over the Ricoh the council have decide to become concert promoters and put on events there. Article says the council lost money due to poor sales but can't say how much - would have thought that they'd have accountants that could give them that sort of information.

Sure its just coincidence and nothing to do with funneling money in to ACL to prop up Wasps.

 

[Nick]

I did read that, it's a bit random that the council are funding concerts at the Ricoh and making a loss on them.

 

[Terry Gibson's perm]

Noticed on the Telegraph site that since Wasps took over the Ricoh the council have decide to become concert promoters and put on events there. Article says the council lost money due to poor sales but can't say how much - would have thought that they'd have accountants that could give them that sort of information.

Sure its just coincidence and nothing to do with funneling money in to ACL to prop up Wasps.

Is it can’t say how much or don’t want to say how much

 

[pastythegreat]

Is it can’t say how much or don’t want to say how much

Surely if somebody quoted them the freedom of information act they'd have to give details anyway? I'm not sure how the FOI thing works? Surely it's to cover things like situations such as these?!

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[Terry Gibson's perm]

Surely if somebody quoted them the freedom of information act they'd have to give details anyway? I'm not sure how the FOI thing works? Surely it's to cover things like situations such as these?!

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The telegraph wont ask them as they are all in the same bed

 

[pastythegreat]

The telegraph wont ask them as they are all in the same bed

Good point

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[oldfiver]

Going to get messy then. Will be interesting to see how quickly it gets dealt with.

Hard to see how they can stop a private company from selling its own shares to who they want when all the shareholders agree to the sale.

What are they challenging exactly? The whole deal to sell or elements of it? And on what basis?

Does the deal stop promotion from the championship? Who is funding the legal action? Are the RFU involved in the action? Funding the legals I would think will be key, the premiership teams would seem better placed in that respect

Won't be wasps in court over this one though will it . It will be premier rugby limited (I think that's the right name?)

UPDATE

Championship clubs consider legal action if Premiership ends relegation | Daily Mail Online

But at least WASPS have an insider to help their corner

Team - Oakwell Capital

 

[HuckerbyDublinWhelan]

Noticed Coventry are one of the teams suing, wonder how wasps will feel about that one.

Will they probably work towards destroying them too?

 

[djbooth]

I have a question I have seen that the bond price has raised and still raising over the last few weeks. If their finances were bad iwould it not fall?? I know they wil get the cvc money but they have the training ground to pay for and their ever increasing debt. Why is it raising???

Thanks in advance

 

[Grendel]

I have a question I have seen that the bond price has raised and still raising over the last few weeks. If their finances were bad iwould it not fall?? I know they wil get the cvc money but they have the training ground to pay for and their ever increasing debt. Why is it raising???

Thanks in advance

Got some Bonds have you?

 

[Nick]

How to make yourself blatantly obvious for dummies looks to have been selling well.

 

[djbooth]

Got some Bonds have you?

No. I’m tempted to invest in a big can of raid.

I just thought it was strange thou. If they are in shite.I thought the bond price would reflect it

 

[Grendel]

No. I’m tempted to invest in a big can of raid.

I just thought it was strange thou. If they are in shite.I thought the bond price would reflect it

It’s 6% below the issue price isn’t it?

 

[fernandopartridge]

It’s 6% below the issue price isn’t it?

It isn't an ordinary bond and not ordinary bond holders. Nothing to say Richardson himself hasn't bought a load of them

 

[Grendel]

It isn't an ordinary bond and not ordinary bond holders. Nothing to say Richardson himself hasn't bought a load of them

Yes I’ve always wondered how many are owned by Moonstone

 

[chiefdave]

Yes I’ve always wondered how many are owned by Moonstone

The way the bond holders waved through the amendments asking for nothing in return when their accounting 'mistakes' were spotted shows the majority aren't regular investors. If they were they would have wanted something back, Wasps were over a barrel and couldn't have said no to demands for improved terms.

 

[djbooth]

What would happen if it was sisu buying them.

 

[Grendel]

What would happen if it was sisu buying them.

The same in that scenario

 

[Captain Dart]

What would happen if it was sisu buying them.

Well if they drop to 90p it might be worth it. :emoji_smiley:
In fact maybe that is the reason for the litigation, to depress the price.

PS To answer djbooth the I presume the recent upturn in bond selling price is due to the Rugby Premiership deal with CVC Capital Partners (another hedge fund?)
Premiership Rugby: Minority shareholding sold to CVC Capital Partners for £200m

 

[lordsummerisle]

Wasps Bonds

 

[Nick]

Even a thread where Wasps fans are worried by it!

 

[Liquid Gold]

Even a thread where Wasps fans are worried by it!

Where are you looking?

 

[chiefdave]

Wasps Bonds

"Nothing to see here, everything is fine, we don't need the money the football club generates as everything is fantastic. We're the richest club in Europe. Not long until every game is sold out"

 

[chiefdave]

You don't even need to look at the accounts to know its bad news. The fact that its quietly slipped out rather than announced with an article in the Telegraph tells you all you need to know.

 

[Nick]

Where are you looking?

DrunkenWasps.com - 2018 Wasps financials ouch

 

[Joy Division]

Wasps Bonds

They are listing their average attendance as 19,210 as of December 2018, this seems a lot higher than it should be? I know the Christmas 'sell out' game would have boosted the average but I'm sure it would be more around the 17,000 mark.

 

[oldfiver]

They are listing their average attendance as 19,210 as of December 2018, this seems a lot higher than it should be? I know the Christmas 'sell out' game would have boosted the average but I'm sure it would be more around the 17,000 mark.

It does say "attendance" not "sales"

 

[Brighton Sky Blue]

You don't even need to look at the accounts to know its bad news. The fact that its quietly slipped out rather than announced with an article in the Telegraph tells you all you need to know.

I don't get how the Ricoh has gone up 7x in value since they bought it?

 

[Brighton Sky Blue]

Noticed Coventry are one of the teams suing, wonder how wasps will feel about that one.

Will they probably work towards destroying them too?

Don't be daft it's the city of rugby

 

[chiefdave]

I don't get how the Ricoh has gone up 7x in value since they bought it?

You might also wonder why the valuation always rises just the right amount to enable them to meet the terms of the bonds.

 

[Brighton Sky Blue]

You might also wonder why the valuation always rises just the right amount to enable them to meet the terms of the bonds.

The more optimistic hope that the club will be replaced with 23 concerts worth £10m