Wasps downward spiral... (82 Viewers)

[Grendel]

The other thing I don’t understand is what people think will happen if wasps go under. Unfortunately we have been put into a position where we now have to rely on their solvency to ourselves remain in business

 

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[chiefdave]

I can’t actually remember the bond value but I thought part of the £35 million was to pay back Richardson who then paid some of it back as losses continued

They will be able to refinance on the value of the lease I would think after all they have a football club on a ten year tenancy now

Think he paid himself back about £10m and had an amount of the bond money ring fenced to make the payments to the bond holders throughout the lifetime of the bond.

Of course the bond was issued with promises of them being the richest and most successful club in Europe with every game sold out. Not sure they can claim that this time round!

 

[Grendel]

Think he paid himself back about £10m and had an amount of the bond money ring fenced to make the payments to the bond holders throughout the lifetime of the bond.

Of course the bond was issued with promises of them being the richest and most successful club in Europe with every game sold out. Not sure they can claim that this time round!

but how does that impact refinancing if they all are paid?

 

[Nobber1985]

Red card was harsh but great result with only 14 men.

Up the Wasps!

 

[Liquid Gold]

Red card was harsh but great result with only 14 men.

Up the Wasps!

Enjoy it while it lasts mate. You haven’t got much more of it.

 

[duffer]

Red card was harsh but great result with only 14 men.

Up the Wasps!

Mate, nice attempt at trolling but yesterday you were playing one of the biggest teams in Europe, whilst the actual Coventry rugby team were playing a college side.

Attendances were about the same, and in fact there were probably more people from Coventry at the Butts!

The game's up lad, the franchise is on the ropes, the part time fans have buggered off, and somehow you've got 35m to find down the back of the sofa to stay afloat.

Enjoy it whilst you can.

 

[Frostie]

Red card was harsh but great result with only 14 men.

Up the Wasps!

What an apt username.

 

[duffer]

The other thing I don’t understand is what people think will happen if wasps go under. Unfortunately we have been put into a position where we now have to rely on their solvency to ourselves remain in business

Not at all sure how you can come to that conclusion. Care to elucidate?

 

[Greggs]

Can't tell if they are taking the piss?

Dom Hyam's less talented brother, with a stupid fringe, if you pause at 19 seconds

 

[Nobber1985]

Mate, nice attempt at trolling but yesterday you were playing one of the biggest teams in Europe, whilst the actual Coventry rugby team were playing a college side.

Attendances were about the same, and in fact there were probably more people from Coventry at the Butts!

The game's up lad, the franchise is on the ropes, the part time fans have buggered off, and somehow you've got 35m to find down the back of the sofa to stay afloat.

Enjoy it whilst you can.

Thanks for the paragraphs

 

[clint van damme]

Red card was harsh but great result with only 14 men.

Up the Wasps!

Thought you supported Munster Boosh?

 

[duffer]

Thanks for the paragraphs

No problem. I thought they'd give you lips a rest, given you obviously have to move them when you're reading.

 

[Nobber1985]

No problem. I thought they'd give you lips a rest, given you obviously have to move them when you're reading.

Nibble nibble

 

[clint van damme]

Dom Hyam's less talented brother, with a stupid fringe, if you pause at 19 seconds

Dumb Hyam

 

[wingy]

Dumb Hyam

More Matty than Dom I think.

 

[Bugsy]

Dom Hyam's less talented brother, with a stupid fringe, if you pause at 19 seconds

So Hyam isn't the one and only lol

 

[clint van damme]

So Hyam isn't the one and only lol

playing in front of crowds like that more like the one and lonely

 

[steveo1987]

Nibble nibble

Oh dear

 

[Grendel]

Nibble nibble

Mate you should get back on the wasps forum - the other two posters need you

 

[Peter Billing Eyes]

This nobber idiot gloating on another post about Villa being the biggest club in the midlands when the rugby team he supports aren’t even the biggest in Coventry.

 

[Grendel]

Anyway regardless of all this do we all agree if wasps go under we are totally fucked - but it’s ok as we’ve signed a new left back

 

[clint van damme]

Anyway regardless of all this do we all agree if wasps go under we are totally fucked - but it’s ok as we’ve signed a new left back

We're certainly in big trouble unless we actually are committed to the new ground which I don't think most of us think is realistic.
I can't see how they can carry on as they're going, their crowds are pitiful, its embarrassing.

 

[Grendel]

We're certainly in big trouble unless we actually are committed to the new ground which I don't think most of us think is realistic.
I can't see how they can carry on as they're going, their crowds are pitiful, its embarrassing.

It’s a massive problem and why people keep ignoring this I’ve no idea.

 

[Grendel]

Oh and anyone with half a brain cell can work out we have no ground being built. No ground and completely reliant on another hedge fund based in Malta to keep its interest in a rugby club

But we are signing a left back so it’s cool

 

[clint van damme]

It’s a massive problem and why people keep ignoring this I’ve no idea.

do you think it's feasible for wasps to leave the CBS while their parent company keeps running it? I'd imagine that would cause issues with their bond obligations wouldn't it?

 

[Grendel]

do you think it's feasible for wasps to leave the CBS while their parent company keeps running it? I'd imagine that would cause issues with their bond obligations wouldn't it?

Anything is feasible but if they are committed to the club why would they if they then just prop up the football club. This isn’t going to end well - I genuinely think the next set of accounts will really bring into focus the trouble the football club is in

 

[Gynnsthetonic]

If Wasps do go under why would that make us totally fucked, wouldn't Derek Richardson still own the lease and carry on renting to us or would CCC take it back, couldn't the football club then offer to take on the lease or would we be back to Sq 1 where Sisu want it for free and CCC won't give it them.

 

[Gynnsthetonic]

Anything is feasible but if they are committed to the club why would they if they then just prop up the football club. This isn’t going to end well - I genuinely think the next set of accounts will really bring into focus the trouble the football club is in

Whose accounts, CCFC or Wasps?

 

[clint van damme]

Anything is feasible but if they are committed to the club why would they if they then just prop up the football club. This isn’t going to end well - I genuinely think the next set of accounts will really bring into focus the trouble the football club is in

of course this all goes away if they start getting decent crowds of paying customers which then gives them a secure foothold in the city, which none of us want.

 

[Grendel]

If Wasps do go under why would that make us totally fucked, wouldn't Derek Richardson still own the lease and carry on renting to us or would CCC take it back, couldn't the football club then offer to take on the lease or would we be back to Sq 1 where Sisu want it for free and CCC won't give it them.

The notion it reverts to the council is a myth - it’s not a given and the lease is worth far more than the debts - we need then to survive or the club vanishes - that’s the Sisu legacy

 

[Grendel]

Whose accounts, CCFC or Wasps?

Ours

 

[JAM See]

When this episode in CCFC's history is all sorted (and it will be), there's a quality three part (Netflix/Prime/HBO etc.) documentary to be made.

If I knew anything about how these things work, I'd be contacting Jonny Owen now.

 

[Gynnsthetonic]

The notion it reverts to the council is a myth - it’s not a given and the lease is worth far more than the debts - we need then to survive or the club vanishes - that’s the Sisu legacy

If Wasps went under what would happen to the stadium though?

 

[Grendel]

If Wasps went under what would happen to the stadium though?

the default condition is vague but the ultimate owners would have a say - Sisu aren’t buying the lease that’s for certain

 

[clint van damme]

the default condition is vague but the ultimate owners would have a say - Sisu aren’t buying the lease that’s for certain

and that's a dilemma that doesn't go away with a change of owners, unless they have genuine intentions to build a new stadium or are prepared to take the lease on should the opportunity arise.