Wasps downward spiral... (23 Viewers)

[Terry Gibson's perm]

See how this turns out, I thought it would be a really bad thing them missing out on the Champions Cup, but they'll be in the Europa League against a lower quality of side and will probably do quite well in it , they'll be able to market any latter stage as European Quarter, European Semi which will get the simpletons that have latched on in the last 3 years excited.

If they'd made the Champions Cup they'd definitely have been dumped out at the group stages.

Not sure how it will leave them in terms of players not joining them due to wanting to play in the Champions cup etc, and I would assume they'll receive less cash for competing in the lower level. Ridiculous that simply staying up gets you into European competition.

A good word to use simpletons

 

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[Liquid Gold]

See how this turns out, I thought it would be a really bad thing them missing out on the Champions Cup, but they'll be in the Europa League against a lower quality of side and will probably do quite well in it , they'll be able to market any latter stage as European Quarter, European Semi which will get the simpletons that have latched on in the last 3 years excited.

If they'd made the Champions Cup they'd definitely have been dumped out at the group stages.

Not sure how it will leave them in terms of players not joining them due to wanting to play in the Champions cup etc, and I would assume they'll receive less cash for competing in the lower level. Ridiculous that simply staying up gets you into European competition.

But in the Champions Cup, even if they did get eliminated early on, they got to host some of the biggest teams around and were some of their highest attended games. The early stages this time around will most likely result in them making a loss on home games. The best players will definitely be put off without playing in the top competition, I read a piece about Gloucester being desperate to get in so they can attract better players. I don't think it's too much of a problem to London Wasps as they've already said that they're going to be promoting youth players next year.

I've learned way more than I ever wanted to about Rugby due to hoping the franchise fail.

 

[duffer]

But in the Champions Cup, even if they did get eliminated early on, they got to host some of the biggest teams around and were some of their highest attended games. The early stages this time around will most likely result in them making a loss on home games. The best players will definitely be put off without playing in the top competition, I read a piece about Gloucester being desperate to get in so they can attract better players. I don't think it's too much of a problem to London Wasps as they've already said that they're going to be promoting youth players next year.

I've learned way more than I ever wanted to about Rugby due to hoping the franchise fail.

Indeed, I wasn't really that fussed about Premiership rugby before they arrived, but now Wasps have given me a team to fervently support. It's whoever is playing against them.

 

[fernandopartridge]

See how this turns out, I thought it would be a really bad thing them missing out on the Champions Cup, but they'll be in the Europa League against a lower quality of side and will probably do quite well in it , they'll be able to market any latter stage as European Quarter, European Semi which will get the simpletons that have latched on in the last 3 years excited.

If they'd made the Champions Cup they'd definitely have been dumped out at the group stages.

Not sure how it will leave them in terms of players not joining them due to wanting to play in the Champions cup etc, and I would assume they'll receive less cash for competing in the lower level. Ridiculous that simply staying up gets you into European competition.

They've lost a lot of their best players, i wouldn't judge them on past performance. It's no foregone conclusion they'll progress in Europe

 

[clint van damme]

Telegraph got an article saying wasps not qualifying for Europe might be a blessing in disguise, There is nothing that can happen to that rugby club that the telegraph won't try and put a positive spin on.

 

[SBAndy]

Telegraph got an article saying wasps not qualifying for Europe might be a blessing in disguise, There is nothing that can happen to that rugby club that the telegraph won't try and put a positive spin on.

Ha.

 

[duffer]

Telegraph got an article saying wasps not qualifying for Europe might be a blessing in disguise, There is nothing that can happen to that rugby club that the telegraph won't try and put a positive spin on.

Absolutely. I suppose the other positive is that the CET site is now so painfully useless that most people won't read this kind of garbage anyway.

I suppose losing most of their best players is good news too... "Now we can try the youngsters!".

Running out of money to pay wages because of the crippling bond payment... "Gruel is surprisingly tasty!".

 

[Terry Gibson's perm]

The next one will be casino numbers up as football fans have more available time due to not going to Birmingham.

It’s no wonder the club don’t give them any transfer info and announce the signings after the newspaper go home

 

[Nick]

The thing is, if you watch an average Wasps fan rabble on they genuinely have no idea. Their players aren't leaving Andy Goode said so, they didn't give auditors false evidence as Andy Goode said so.

 

[Kneeza]

Telegraph got an article saying wasps not qualifying for Europe might be a blessing in disguise, There is nothing that can happen to that rugby club that the telegraph won't try and put a positive spin on.

One particular rugby 'writer' though innit? (Who should've stuck to his wedding photography imo).
The Telegraph once had quality rugby writers going back years, and then the band-wagoneers jumped in on the back of the franchise.
Rag.

 

[Nick]

Didn't they hire him especially just to push Wasps stuff?

 

[Kneeza]

Yes, but then Wilko retired, and with him the Cov coverage (excepting dribs and drabs rehashed from the Cov website).

 

[CCFC54321]

Don’t shoot the messenger here but I’ve heard today that wasps auditors have again cut ties with them due to more financial irregularities.

Second time in two years?

 

[Nick]

What, the new ones?

 

[CCFC54321]

What, the new ones?

That’s what I was told today. I’ve not looked into it further or know when or why auditors are doing/were doing anything to do with wasps but it’s linked to the recent news that they are being ‘investigated’ by whom I don’t know.

Sorry not much help just passing on some info.

 

[chiefdave]

it’s linked to the recent news that they are being ‘investigated’ by whom I don’t know.

The investigation is about the last time they were found out so not sure why that would cause the new auditors to quit.

 

[oldfiver]

they are being ‘investigated’ by whom I don’t know.

FCA to investigate Wasps RFC

 

[Covstu]

they are being ‘investigated’ by whom I don’t know.

FCA to investigate Wasps RFC

Appears to be PWC's issue but it would be great if its a massive cover up!!!

 

[Nick]

Appears to be PWC's issue but it would be great if its a massive cover up!!!

It's Wasps issue isn't it? PWC resigned because of it.

 

[oldfiver]

It's Wasps issue isn't it? PWC resigned because of it.

WASPS HOLDINGS LIMITED - Filing history (free information from Companies House) click on Auditors Resignation

 

[speedie87]

Aren’t wasps due to release some figures this month for their bond commitments?

 

[chiefdave]

Aren’t wasps due to release some figures this month for their bond commitments?

Ricoh must be valued at about £1bn by now the rate it keeps going up.

 

[Liquid Gold]

Having a minimum of 24 event days grantees must affect the valuation.

 

[Philosoraptor]

Bond price is having a jitter again.

 

[SBAndy]

Bond price is having a jitter again.

Can’t see any movement, where are you seeing this?

 

[fernandopartridge]

Lol check out the naivety of Chuck

Individual corporate bonds - MoneySavingExpert.com Forums

Ricoh worth £113m cos that's what it cost to build

 

[Nick]

Lol check out the naivety of Chuck

Individual corporate bonds - MoneySavingExpert.com Forums

Ricoh worth £113m cos that's what it cost to build

Probably a pr gobshite

 

[CanadianCCFC]

Sounds like a bunch of gibberish to me but as long as the SBTers say it’s bad news for wasps I’m happy with it.

 

[speedie87]

Anyone know how wasps season ticket sales are going?

 

[Philosoraptor]

Can’t see any movement, where are you seeing this?

No expert here but you can't but help to wonder if the drop over the last two weeks has any correlation with other stuff going on.

 

[duffer]

No expert here but you can't but help to wonder if the drop over the last two weeks has any correlation with other stuff going on.

View attachment 12371

It's got to hurt them financially, the club and the related footfall departing. That, and the fact that it draws attention to their other financial woes is likely to make people a bit worried about their ability to repay the bond. Hence the impact on the price, perhaps...

Either way I'm going to use that picture for my screensaver.

 

[jordan210]

What happened on the 15th of April for a 6 point drop ?

 

[Liquid Gold]

Same graph but over the period of a month

 

[duffer]

What happened on the 15th of April for a 6 point drop ?

In essence, someone keen to sell, and not many people looking to buy.

The drop in price is potential buyers factoring in the risk of the bond not being repaid at the end of the term, against the interest payment (5-ish percent p.a, iirc), and the chance of the bond price rising at a later date.

From a cold, hard financial point of view buying the bond looks like a bit of a gamble to me. I still don't see how the valuation of the security stacks up if Wasps can't refinance the bond and/or go bust before or after the due date. I think that and the underlying financials at Wasps are why the price is heading south. All imho this, I should add...

 

[Philosoraptor]

In essence, someone keen to sell, and not many people looking to buy.

The drop in price is potential buyers factoring in the risk of the bond not being repaid at the end of the term, against the interest payment (5-ish percent p.a, iirc), and the chance of the bond price rising at a later date.

From a cold, hard financial point of view buying the bond looks like a bit of a gamble to me. I still don't see how the valuation of the security stacks up if Wasps can't refinance the bond and/or go bust before or after the due date. I think that and the underlying financials at Wasps are why the price is heading south. All imho this, I should add...

I would, with my limited knowledge of life, agree with you. I would say this chart is more about the confidence in what you have said.

What took my attention recently was an article in the Coventry Telegraph about the "Landmark month".

It hints to me, but I could be wrong, that people are trying to build confidence in the venue.

Nice of the Coventry Telegraph to label it as a claim.