Wasps losses and ricoh return catalyst (12 Viewers)

[Grendel]

Has OSB passed comment on their accounts and the contrasting opinions as to whether they are going to go bust or not?

like us they are bankrupt as a company and rely on their owner funding the company

 

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[Grendel]

This is where it’s been hazy as to the security instrument on the initial bond issue. It seemed to be suggested that the long leasehold of the Ricoh was security for bond holders but there is also talk that in the event of insolvency the lease defaults back to CCC.

If you’re talking about after the maturity of the current bond scheme then they could do that but they won’t.

In the case of insolvency yes the lease does de wet back and the 250 year lease defaults

 

[SBAndy]

In the case of insolvency yes the lease does de wet back and the 250 year lease defaults

Not doubting that this is the case, but do you have any evidence?

 

[Mcbean]

They'd be mad to take on Wasps' debt in order to get the Ricoh. We'd end up paying £35m for something that would only fetch £10m at very most on the open market.

I think if we could end up in the Prem that we could make money with decent crowds and income - our company was in a buy sell relationship for supply of a product - it worked fine but we had no control over the investment- then we moved to 50% - which was still stifling - only when they bought the lot did the flood gates open for investment !

 

[chiefdave]

Not doubting that this is the case, but do you have any evidence?

It was in the bond prospectus wasn’t it? Seem to recall it was vaguely worded which seems to be where the confusion started.

 

[Grendel]

Not doubting that this is the case, but do you have any evidence?

Club aims to raise £35m from bond

Fantastic News - http://www.coventrytelegraph.net/news/coventry-news/wasps-rfc-looks-raise-35million-9121703 Copy and Paste Article. No mention of it paying Richardson back too? The Richardson bit is there hidden as 'refinancing shareholder loans' I believe Sounds better than Richardsons...

www.skybluestalk.co.uk

 

[skybluetony176]

Us going back has slowed the process I still don’t see them here in another 5 years

They’ll be here. They’ll just be owned by SISU.

 

[Skybluemichael]

Not doubting that this is the case, but do you have any evidence?

They talk about it here Wasps 22 Chat - WAS1 | ADVFN

 

[stupot07]

I'm gutted Italiahorse doesn't post on here anymore....I'd love to hear how he would spin this.

Sent from my SM-G965F using Tapatalk

 

[Dean1961]

I think we all know what Italia would be saying to defend his love of wasps and hatred of Sisu that was easier than i thought...lol

 

[ccfcchris]

There has never been a season where it is more important not to get relegated. We are at the crossroads of building great things and must for now play at the Ricoh.

 

[pusbccfc]

That guy is literally a moron. I don't know how he gets any work.

The difference is mainly down to the CVC money that they received last year for selling shares in the league.

Keiran Maguire?

Why is he? His book is brilliant as is his podcast. He's not going to be expert on every single club in the UK, but knows a lot about most of them. That's why clubs and potential owners approach him for estimating their value.

 

[Liquid Gold]

Keiran Maguire?

Why is he? His book is brilliant as is his podcast. He's not going to be expert on every single club in the UK, but knows a lot about most of them. That's why clubs and potential owners approach him for estimating their value.

Everything he's ever said about us has been easily disprovable but he just puts his head down and goes for it. Like this again today, their accounts have barely changed but he's seen profit to loss and just tweeted it. His books and podcasts are popular because they break the complex down into simple (often bullshit) narratives. I very much doubt anybody uses him to estimate club values, I wouldn't use him to submit my taxes.

 

[pusbccfc]

Everything he's ever said about us has been easily disprovable but he just puts his head down and goes for it. Like this again today, their accounts have barely changed but he's seen profit to loss and just tweeted it. His books and podcasts are popular because they break the complex down into simple (often bullshit) narratives. I very much doubt anybody uses him to estimate club values, I wouldn't use him to submit my taxes.

Yeah, I agree his views on Cov have generally been weak and dated in recent years. That's why he had Juggy on to break down the change in attitudes from Cov fans.


The bloke does teach football finances at a top Uni, he must know his stuff.

 

[Grendel]

Keiran Maguire?

Why is he? His book is brilliant as is his podcast. He's not going to be expert on every single club in the UK, but knows a lot about most of them. That's why clubs and potential owners approach him for estimating their value.

His financial analysis generally is clueless

 

[Grendel]

Yeah, I agree his views on Cov have generally been weak and dated in recent years. That's why he had Juggy on to break down the change in attitudes from Cov fans.


The bloke does teach football finances at a top Uni, he must know his stuff.

Yeah

Ccfc are £100 million in debt when they were £20 million

 

[Nick]

Keiran Maguire?

Why is he? His book is brilliant as is his podcast. He's not going to be expert on every single club in the UK, but knows a lot about most of them. That's why clubs and potential owners approach him for estimating their value.

Owners approach him? Really?

He has been wrong multiple times about ccfc stuff so god knows about other clubs.

 

[Grendel]

Owners approach him? Really?

He has been wrong multiple times about ccfc stuff so god knows about other clubs.

When still at the Ricoh he highlighted the cost of being at St Andrews by quoting the rent and the Ricoh

 

[SBAndy]

When still at the Ricoh he highlighted the cost of being at St Andrews by quoting the rent and the Ricoh

What about when he said for every £1 of income we earned, something ridiculous like 80p was going straight to the owners. No basis for it whatsoever.

 

[pusbccfc]

Owners approach him? Really?

He has been wrong multiple times about ccfc stuff so god knows about other clubs.

Yep, believe it was Charlton and Sunderland. He provided a valuation for potential owners.

 

[pusbccfc]

Yeah

Ccfc are £100 million in debt when they were £20 million

Yeah, fair enough but that doesn't mean he's wrong about every other club. His job is to study every financial report of every football club.

 

[Nick]

Yeah, fair enough but that doesn't mean he's wrong about every other club. His job is to study every financial report of every football club.

It's hard to say as we don't follow each other club to know.

If he teaches it at uni then it is bad times when somebody with a couple of gcses has to correct him.

 

[Nick]

Yep, believe it was Charlton and Sunderland. He provided a valuation for potential owners.

How did they work out?

 

[Gregbant]

like us they are bankrupt as a company and rely on their owner funding the company

Two peas in a hedge fund bankrupt stadium pod then?

 

[pusbccfc]

It's hard to say as we don't follow each other club to know.

If he teaches it at uni then it is bad times when somebody with a couple of gcses has to correct him.

But as Cov fans, you would know far more than someone who has a general view of football.

 

[pusbccfc]

How did they work out?

Neither potential owner bought Charlton or Sunderland.

 

[Grendel]

But as Cov fans, you would know far more than someone who has a general view of football.

He is lazy and makes headlines without looking at any facts.

 

[pusbccfc]

He is lazy and makes headlines without looking at any facts.

Fair enough!

 

[shmmeee]

Keiran Maguire?

Why is he? His book is brilliant as is his podcast. He's not going to be expert on every single club in the UK, but knows a lot about most of them. That's why clubs and potential owners approach him for estimating their value.

He doesn’t like our owners so the Sisu Defence Force must assemble whenever he is mentioned. That’s about it.

 

[Nick]

He doesn’t like our owners so the Sisu Defence Force must assemble whenever he is mentioned. That’s about it.

Or people just point out actual facts he has got wrong.

 

[Nick]

But as Cov fans, you would know far more than someone who has a general view of football.

So he "has a general view of football" but must know everything because he teaches football finance at uni?

In which case, if he gets out stuff wrong then who is to say he isn't getting it wrong for other clubs because he only has a "general view"?

 

[fernandopartridge]

He doesn’t like our owners so the Sisu Defence Force must assemble whenever he is mentioned. That’s about it.

Has he expressed a view on our owners, or just a view on the accounts? I think it's you who is seeing something that isn't there

 

[Liquid Gold]

He doesn’t like our owners so the Sisu Defence Force must assemble whenever he is mentioned. That’s about it.

If it's him not liking our owners that mean he makes wildly inaccurate points about the club then he's an extremely poor accountant that should't let his bias cloud his work.

 

[Grendel]

He doesn’t like our owners so the Sisu Defence Force must assemble whenever he is mentioned. That’s about it.

Doesn’t he? Well he’s the one who claimed the owners have ploughed in £64m to the football club - when they haven’t even put in a third of that.

 

[shmmeee]

The Sisu Defence Force: