Skyblueweeman
Well-Known Member
I think it would make my blood boil reading some of the stuff on there. And it's already too hot. 32 degrees C here in Portsmouth today.
Wasps downward spiral... (23 Viewers)
- Thread starter CCFC54321
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I think it would make my blood boil reading some of the stuff on there. And it's already too hot. 32 degrees C here in Portsmouth today.
fernandopartridge
Well-Known Member
Meeting and conference venue Coventry | Warwick Conferences
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Skyblueweeman
Well-Known Member
Looks good to be fair.
Grendel
Well-Known Member
No one would stop in the Ricoh hotel if they are exhibitors if they have already been once. Its pretty dire and in a dire area of Coventry.
Skyblueweeman
Well-Known Member
It's really not dire.
And if they're there for a conference/exhibition/meeting which is one or two days, they do tend to stay there. If it's anything longer, then delegates do tend to stay somewhere else where there's more happening. Same for anyone going to a multiday event in any city.
Grendel
Well-Known Member
Have you stayed there? I have attended several exhibits and corporate events and its decline has been severe. Of course management companies will dump low paid exhibition staff there but given they have hardly any such events anyway what purpose does it serve.
Skyblueweeman
Well-Known Member
I was Director of Sales for Sports and Partnerships at Hilton until 6 weeks ago, so I know the hotel very well. I've also shown a few professional sports teams the hotel who all said it was a good option (despite being 'too near' where they were playing).
Grendel
Well-Known Member
Its a budget Hilton Hotel - we never used it for guests coming in - food is terrible and its just odd - the noise screening is dire.
When we sponsored the Arena we had free facilities for meetings - the rooms were so cramped and the food so dire we moved away and paid for facilities at superior venues. The reviews are in decline with many 3 star or less reviews - this is the best summary to me.
A unique situation for a hotel - built into a sports stadium with rooms round the edge of the stadium.
This is all well and good if you're coming to watch a 'Wasps' match but the walk to your room can be right around the other side of the huge stadium - take walking boots and a rucksac.
Other than that, it's basic (hard to believe it a Hilton) and has sparse facilities.
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Skyblueweeman
Well-Known Member
The DoubleTree brand isn't 'budget'. Its an upscale brand but less formal than a normal Hilton brand. Hampton by Hilton Garden Inn and Tru are more 'midscale' or 'focused serviced' brands but not budget.
And it's not really unique to have hotel rooms round the edge of the stadium - Hilton Garden Inn Emirates Old Trafford, Hilton Ageas Bowl, DoubleTree Milton Keynes, Marriott Twickenham, Whites Hotel Bolton, Blackpool FC Hotel & Conf Venue to name but a few but no, not unique.
As for ratings, it has a rating of 4/5 on tripadvisor, ranking 10/44 hotels in Coventry.
Anyway, they don't need me to sell their facilities anyway. I know the GM well and he's doing just fine. You've obviously had bad experiences there. Not everyone likes every hotel. No biggy.
Yes I agree £35m to be repaid. My point is the value of the stadium is greater than £35m, yes. And I am noting it is significantly larger than £14m. A couple of points in your post are pretty circular arguments. Public markets often fluctuate and significantly undervalue or overvalue the fundamentals. If Wasps had significant cash they could consider buying shares, but they don't, like you say, and even if they did they could not without moving the market significantly. Yes we have covid now, but there are many vaccines in trials, Russia is rolling one out now so we will know pretty quickly if that one works and is safe, AstraZeneca have begun manufacture, and so yes discounting cash flows is the correct approach. Write off 1 (or 2 if you like) years of profit and the NPV will not dip vastly. I would not underestimate the potential things have to blow over. The point I am making is that the bonds have security over the stadium. I would definitely not accept 60p tomorrow and no bondholder is likely to accept less than full payout when, on taking possession of the stadium, the exercise of appointing a party to sell the stadium, or alternatively simply forming a company to take the stadium forwards as an awesome local venue for Coventry, is so straightforward. | ||
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Wasps are top 6 in the Premiership currently, which means European rugby next year, and if they manage top 4 then they get payments from the play-offs. I cant see the owner walking away and letting everything go bust, including selling off the stadium, when all he needs to do is re-finance and continue trading. That might not mean 100% return, but maybe 80% return. Most major sports teams only exist due to the continued support of their owner, Wasps are not unique in that situation. |
I hope they did not invest without expert advice.
Especially if they think they are secured on the ground
jordan210
Well-Known Member
Its very easy to see wasps fans in that thread who like most would be a little bit blinded and cant see the bad Side to the bond and how its going.
Been updated
fernandopartridge
Well-Known Member
Was the Arena revalued in June? Or was that note for bondholders basically in lieu of the valuation:
tisza
Well-Known Member
couple of dreamers on there. Doubt they even read the prospectus.
Sure they're still waiting for their Nigerian prince to send them their money now he's got access to his funds
Terry Gibson's perm
Well-Known Member
I hope he sends my funds first I have been waiting patiently for years ever since he sent me the fax.
Comedy update!
shepardo01
Well-Known Member
Up to more tricks regarding their planning for their ~Site for to sell to a housing developer~ sorry, the henley training centre;
Including Cov Tel quotes off the WASPS forum about ground share !
Nick
Administrator
So they are trying to say it doesn't need to be a community one now?
What about Sport England?
Sky Blue Harry H
Well-Known Member
Not sure how player wages work. If they get bonuses for winning, glad that they won v Northampton on Sunday (will cost them more money). If they end up qualifying for Europe, surely that will incur a bucketload more of costs (travel). Not sure how that equates with income for European games, possibly without crowds. Interesting to find out.
Terry Gibson's perm
Well-Known Member
There are travellers by the Ricoh refusing to move and the council are grumpy, ironic really when they are doing all they can to help keep the travellers in it.
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fernandopartridge
Well-Known Member
They're waiting for the hotel to open
Skybluesince82
Well-Known Member
There are a number of redundancies at Wasps at the moment on the rugby side, not ACL side.
Obviously very sad for the individuals involved and I hope they go on to get other things, but COVID impact now getting more clearly evident.
Obviously very sad for the individuals involved and I hope they go on to get other things, but COVID impact now getting more clearly evident.
Sky Blue Harry H
Well-Known Member
Slightly off topic, but my phone and pc keep advertising Wasp removal services when I log on this site. Funny/ scary how 'they' track your 'interests'!
| From the Bond's Board aringadingding: I have checked out the prospectus and there is nothing in there that bothers me greatly. CC2014 some background reading re trustee processes here: hxxps://www.icmagroup.org/assets/documents/About-ICMA/APAC/ICMA-NAFMII-WG-International-Practices-of-Bond-Trustee-Arrangements-031218.pdf The £5m is mostly government grant to get Britain building and not income, agreed, but obviously will add to the stadium value. There is a whole load of detail we could go into if we wanted to but at this stage the dynamic, I think, is that the football club wants to play there but they don't want to pay a lot for that, and probably hope that if the club goes bust they can pick up the stadium cheaply (the low public market valuation helps them think this might happen). Wasps are doing a really great job of investing in training facilities, management, players, the brand and navigating the crisis. I think they are doing a superb job. The arena is located in a very prosperous part of the UK. Rugby as a sport is growing in value as evidenced by private equity investment. Wasps just need to see out this awkward few years when they have got involved in retail security markets, then ideally bring the football club back to the table, but otherwise just keep growing the business and think long term. I think they can do it but as stated above I am a holder |
tisza
Well-Known Member
a private equity firm that now now owns 20% of rugby-related income in a league where only 1 club pre-covid could make a small profit.
Most clubs have used up the money from this private equity investment already and have still had to dramatically reduce the salary cap.
If RFU can't continue to subsidize international player wages then some of the big names will surely be off to the likes of France & Japan.
Media reports next TV contract won't be that great - again it needs to be better than before as clubs owe 20% of it this private investor.
Nick
Administrator
Ooops!
I thought this really funny !
fernandopartridge
Well-Known Member
Utter delusion, not only about the prosperity of rugby but the area the stadium is in.