Wasps downward spiral... (83 Viewers)

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CCFC54321

Well-Known Member
Gynnsthetonic said:
I just can't see how they can last, they're losing in the region of 10m a year with 4k-5k paying spectators, their London based fans can't be bothered anymore and over the years that fanbase will just dwindle.
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They can’t. A wasps ‘supporter’ I know even says it’s only a matter of time before they go pop.
 
FulltimeWum

FulltimeWum

Well-Known Member
Wasps are so good they give each fan who stumps up the cash,a forever momento share which is so rare it is golden.

Sisu are so bad they keep the only golden share.
 
Grendel

Grendel

Well-Known Member
CCFC54321 said:
They can’t. A wasps ‘supporter’ I know even says it’s only a matter of time before they go pop.
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Is that the one that said they would in 2017?
 
Grendel

Grendel

Well-Known Member
CCFCSteve said:
Agreed. Unless there’s some dramatic changes the model doesn’t appear to work. It’s all well and good owning a ground but if youre having to pay 6.5%* pa (£2m) just to service interest on the debt with dwindling crowds/match day income then you’re going to struggle. The only things I can think of that can help dig them out if this mess is external investment, large non sport events/gigs and sponsorship (not sure what CBS are paying ?)


*could increase in future
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We will be paying a significant amount of the interest which is why we are allowed back
 
Gynnsthetonic

Gynnsthetonic

Well-Known Member
CCFCSteve said:
Agreed. Unless there’s some dramatic changes the model doesn’t appear to work. It’s all well and good owning a ground but if youre having to pay 6.5%* pa (£2m) just to service interest on the debt with dwindling crowds/match day income then you’re going to struggle. The only things I can think of that can help dig them out if this mess is external investment, large non sport events/gigs and sponsorship (not sure what CBS are paying ?)


*could increase in future
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Can't see where the external investment will come from, it's been a loss making business since they arrived and hasn't changed to this day.
 
C

CCFC54321

Well-Known Member
Grendel said:
Is that the one that said they would in 2017?
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genuine question here….

Why do you come on here? Your only motive on this site is to be rude, spiteful, argumentative, shout down anyone that has an alternative opinion and down right horrible. What drives you to be such a person?

I’m not going to respond again to your sarcasm as I often tend to put you in my back pocket after a post or two as your not worth it pal.


I’m certainly not going to allow you to ruin such a good thread either!
 
C

CCFCSteve

Well-Known Member
Grendel said:
We will be paying a significant amount of the interest which is why we are allowed back
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Agreed. The club is still massively loss making though and I wouldn’t be surprised if rates go up further, assuming they’re able to secure a refinance.
 
Grendel

Grendel

Well-Known Member
CCFC54321 said:
genuine question here….

Why do you come on here? Your only motive on this site is to be rude, spiteful, argumentative, shout down anyone that has an alternative opinion and down right horrible. What drives you to be such a person?

I’m not going to respond again to your sarcasm as I often tend to put you in my back pocket after a post or two as your not worth it pal.


I’m certainly not going to allow you to ruin such a good thread either!
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How is exposing your uninformed rubbish and lack of any financial knowledge sarcastic rude of spiteful

You haven’t a clue what you are talking about and I consider I need to make people aware of that
 
Grendel

Grendel

Well-Known Member
oldfiver said:
The reason they wanted CCFC back was they are the attraction at the stadium which also led CBS there
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Which is another reason the main company won’t fold
 
Grendel

Grendel

Well-Known Member
oldfiver said:
They will not survive just relying on CCFC income and the lease is running down
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its hardly running down it’s got 240 years to run!
 
Grendel

Grendel

Well-Known Member
Let’s be honest if Sepalla and Boddy were serious about ground ownership they’d look to buy the lease from wasps holdings and save a fortune compared to building a new ground
 
Gynnsthetonic

Gynnsthetonic

Well-Known Member
Grendel said:
Let’s be honest if Sepalla and Boddy were serious about ground ownership they’d look to buy the lease from wasps holdings and save a fortune compared to building a new ground
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It's worthless, why would they buy it, Wasps never as they sold bonds to purchase it.
 
Grendel

Grendel

Well-Known Member
Gynnsthetonic said:
It's worthless, why would they buy it, Wasps never as they sold bonds to purchase it.
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They bought it before the bond issue abs it’s valued at £60 million
 
Gynnsthetonic

Gynnsthetonic

Well-Known Member
Grendel said:
They bought it before the bond issue abs it’s valued at £60 million
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Bought it for how much, 2.7m was it not, not 60m, then they issued the bonds which paid off the councils loan and covered their original purchase. It may be valued at 60m but Wasps won't get anything for it
 
Grendel

Grendel

Well-Known Member
Gynnsthetonic said:
Bought it for how much, 2.7m was it not, not 60m, then they issued the bonds which paid off the councils loan and covered their original purchase. It may be valued at 60m but Wasps won't get anything for it
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It was £5.4m plus £1m for the lease. It also included the operational debt of around £20m.

Of course it’s worth money it’s stupid to say it has zero value
 
Gynnsthetonic

Gynnsthetonic

Well-Known Member
Grendel said:
It was £5.4m plus £1m for the lease. It also included the operational debt of around £20m.

Of course it’s worth money it’s stupid to say it has zero value
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To SISU it has zero value as they won't offer anything, that's if Wasps were willing to sell, and would CCC let that happen. Could SISU not issue a similar bond scheme to raise funds?
 
O

oldfiver

Well-Known Member
Grendel said:
Let’s be honest if Sepalla and Boddy were serious about ground ownership they’d look to buy the lease from wasps holdings and save a fortune compared to building a new ground
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It would cost as much to bring it up to standard as building a new one

I understand the dilaps are one problem in the equation
 
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