Wasps downward spiral... (23 Viewers)

[CCFC54321]

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.

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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[FulltimeWum]

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]

They can’t. A wasps ‘supporter’ I know even says it’s only a matter of time before they go pop.

Is that the one that said they would in 2017?

 

[Grendel]

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

We will be paying a significant amount of the interest which is why we are allowed back

 

[Gynnsthetonic]

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

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.

 

[CCFC54321]

Is that the one that said they would in 2017?

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!

 

[CCFC54321]

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.

Love to see their business plan for the next five years…. If they have one mate!

 

[CCFCSteve]

We will be paying a significant amount of the interest which is why we are allowed back

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]

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!

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

 

[CCFC54321]

There seems to be strife with the bondholders. Some look like they're getting ready to kick off.

Can you share the link please? Cheers.

 

[oldfiver]

Can you share the link please? Cheers.

ADVFN

uk.advfn.com

 

[oldfiver]

Love to see their business plan for the next five years…. If they have one mate!

Their valuers and auditors should have seen one?

 

[oldfiver]

We will be paying a significant amount of the interest which is why we are allowed back

The reason they wanted CCFC back was they are the attraction at the stadium which also led CBS there

 

[CCFC54321]

ADVFN

uk.advfn.com

Thanks mate- appreciated

 

[Gynnsthetonic]

The reason they wanted CCFC back was they are the attraction at the stadium which also led CBS there

We are the main event!

 

[Grendel]

The reason they wanted CCFC back was they are the attraction at the stadium which also led CBS there

Which is another reason the main company won’t fold

 

[oldfiver]

Which is another reason the main company won’t fold

They will not survive just relying on CCFC income and the lease is running down

 

[Grendel]

They will not survive just relying on CCFC income and the lease is running down

its hardly running down it’s got 240 years to run!

 

[Grendel]

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]

its hardly running down it’s got 240 years to run!

Our lease is 8 years to run

 

[Gynnsthetonic]

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

It's worthless, why would they buy it, Wasps never as they sold bonds to purchase it.

 

[Grendel]

It's worthless, why would they buy it, Wasps never as they sold bonds to purchase it.

They bought it before the bond issue abs it’s valued at £60 million

 

[Gynnsthetonic]

They bought it before the bond issue abs it’s valued at £60 million

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]

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

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

 

[oldfiver]

its hardly running down it’s got 240 years to run!

I meant CCFC lease

 

[Gynnsthetonic]

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

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?

 

[oldfiver]

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

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

 

[Gynnsthetonic]

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

Is that not the responsibility of the freeholder?

 

[oldfiver]

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

It only has 2 values - what someone would pay for it and the in use value to the current owner

 

[oldfiver]

Is that not the responsibility of the freeholder?

No most definitely not

 

[fernandopartridge]

Bridge has been released from his cage and has written his propaganda piece.

I'm surprised he's not said that they didn't want to repay the bond on Friday the 13th or something

 

[Moff]

Another full house tonight….oh and sadly another loss

 

[Gynnsthetonic]

Shame Cov Rfc are away tomorrow at Ealing as there could of been a bumper crowd at the Butts for their cup final, even better if they'd of moved it to the CBS and got over 10k

 

[Earlsdon_Skyblue1]

Another full house tonight….oh and sadly another loss View attachment 24814

There is a few that post on this forum in the stand there. Sadly, they will never admit it publicly.

 

[Philosoraptor]

There is a few that post on this forum in the stand there. Sadly, they will never admit it publicly.

It could have been their last game at the Ricoh.

Is it 21 days to default on the bond?