Wasps downward spiral... (9 Viewers)

[oldfiver]

Some key council members aren’t that enthused anymore - I believe Duggins is though - but Jon Mutton is the thinking mans Duggins - the councillors are so stupid how do any of these people get elected.

Jane Innis is a hoot

The problem is Martin Reeves - too much power

 

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[Brighton Sky Blue]

No too much embarrassment

Unless the embarrassment can come first?

Is it not out of their hands now anyway?

 

[chiefdave]

Is it not out of their hands now anyway?

The WMCA grant application technically is but given Reeves was Chief Exec for the WMCA its not a huge leap to think he still has contacts and potentially influence there.

Wasn't there also a meeting of the council after the news of the grant broke where assisting Wasps was mentioned so just because Reeves pushed Wasps to WMCA doesn't necessarily mean that is the end of the councils involvement.

 

[Brighton Sky Blue]

The WMCA grant application technically is but given Reeves was Chief Exec for the WMCA its not a huge leap to think he still has contacts and potentially influence there.

Wasn't there also a meeting of the council after the news of the grant broke where assisting Wasps was mentioned so just because Reeves pushed Wasps to WMCA doesn't necessarily mean that is the end of the councils involvement.

Is Street the final decision maker?

 

[Nick]

Andy Street, you say?

 

[oldfiver]

Is Street the final decision maker?

Depends on what the decision is and if more than one

Duggins (eventually) said the application had been signposted to WMCA- they could pass it back for CCC to decide?

 

[oldfiver]

Andy Street, you say?

Politician!

 

[Moff]

He loaned the whole £10 million back didn’t he?

Im not sure he did.
Have you details of this? I thought part of the bond payments was to pay him back his loan to the club, and not for him to give it straight back.

 

[joemercersaces]

But the beloved city council will no doubt plead poverty when it comes to funding childrens social services, then bail out their floundering bedfellows at Wasps.

 

[Liquid Gold]

Im not sure he did.
Have you details of this? I thought part of the bond payments was to pay him back his loan to the club, and not for him to give it straight back.

I think he’s loaned It back into the club over the subsequent years.

One of their issues is that he isn’t infinitely wealthy and knows he’ll bankrupt himself if this path continues.

 

[oldfiver]

Im not sure he did.
Have you details of this? I thought part of the bond payments was to pay him back his loan to the club, and not for him to give it straight back.

At last June was about back to where he was.

He was repaid £10m but it has been re-lent

 

[Moff]

At last June was about back to where he was.

He was repaid £10m but it has been re-lent

Yes looking at reports he got repaid his £10 million but has loaned them much more.
They seriously are a complete basket case, without his money they would have been screwed long ago.

 

[Gynnsthetonic]

How long do they have to issue their accounts, they can't indefinitely not show them surely

 

[shepardo01]

How long do they have to issue their accounts, they can't indefinitely not show them surely

I'm sure somebody said that Derby still hadn't filed theirs from a couple of years back.... now they are effectively a different company.

 

[chiefdave]

You've got to assume if he took £10m out of the bond he wanted his money back, his plan wouldn't have been to put it back in. Suspect its similar to the situation we have with SISU where he only puts money in as a last resort as not doing it would run the risk of wiping out his entire investment.

There was media reports that he was getting close to what he could afford to put in to the club a while back as well, which certainly ties in with using the bond to pay himself back. Why else would you saddle the club with an extra £10m debt amongst all the uncertainty of a move.

The question I've always had is what happens when he goes? We're not in a financial climate where there will be a queue of people to take over and given they've only been here a few year they will struggle to even find a Hoffman type figure locally.

 

[oldfiver]

How long do they have to issue their accounts, they can't indefinitely not show them surely

They should have filed interim accounts to December 2021 by now.

 

[Grendel]

You've got to assume if he took £10m out of the bond he wanted his money back, his plan wouldn't have been to put it back in. Suspect its similar to the situation we have with SISU where he only puts money in as a last resort as not doing it would run the risk of wiping out his entire investment.

There was media reports that he was getting close to what he could afford to put in to the club a while back as well, which certainly ties in with using the bond to pay himself back. Why else would you saddle the club with an extra £10m debt amongst all the uncertainty of a move.

The question I've always had is what happens when he goes? We're not in a financial climate where there will be a queue of people to take over and given they've only been here a few year they will struggle to even find a Hoffman type figure locally.

I assume most of the loans are through his investment company in Malta surely?

 

[Grendel]

Aston Villa seem to have had a grant for development in process with Andy street

Villa Park expansion plan to see £30m train station redevelopment

Aston Villa have entered talks over a £30 million rebuild of Witton Station as part of stadium expansion plans.

www.expressandstar.com

 

[Deleted member 5849]

Aston Villa seem to have had a grant for development in process with Andy street

Villa Park expansion plan to see £30m train station redevelopment

Aston Villa have entered talks over a £30 million rebuild of Witton Station as part of stadium expansion plans.

www.expressandstar.com

They're agreeing to fund the station redevelopment aren't they, rather than granting Villa some cash?

 

[Grendel]

They're agreeing to fund the station redevelopment aren't they, rather than granting Villa some cash?

on his website he also says working with Villa to help extend the stadium to 50,000

 

[Terry Gibson's perm]

They're agreeing to fund the station redevelopment aren't they, rather than granting Villa some cash?

Somebody at Wasps has read this and said quick I have a plan the station looks bad let’s try to get some cash for that as well.

 

[Grendel]

I think he will be keen to help Villa

 

[fernandopartridge]

Aston Villa seem to have had a grant for development in process with Andy street

Villa Park expansion plan to see £30m train station redevelopment

Aston Villa have entered talks over a £30 million rebuild of Witton Station as part of stadium expansion plans.

www.expressandstar.com

Yeah though tbf Witton Station is public infrastructure not for the exclusive use of Aston Villa, and upgrading it will align with a lot of the WMCA objectives. It remains to be seen whatever Wasps are proposing for the £13m.

 

[Deleted member 5849]

on his website he also says working with Villa to help extend the stadium to 50,000

That's a play on words though. They are, as it'd need more capacity to cope with extra fans. Extra train tickets = extra revenue to pay it back, and the mon ey isn't actually going to Villa to do it.

Now, if Wasps were to apply to demolish the station at the Arena, to cope with the decline in their fanbase, they might have some success...

 

[Terry Gibson's perm]

I think he will be keen to help Villa

Never liked him anyway always strikes me as a total knob head.

 

[Grendel]

Never liked him anyway always strikes me as a total knob head.

They are an odd couple that’s for sure - wonder if they do each other’s hair.

 

[Terry Gibson's perm]

They are an odd couple that’s for sure - wonder if they do each other’s hair.

I might like Street a bit more if he rejects the wasps begging bowl though.

 

[Grendel]

That's a play on words though. They are, as it'd need more capacity to cope with extra fans. Extra train tickets = extra revenue to pay it back, and the mon ey isn't actually going to Villa to do it.

Now, if Wasps were to apply to demolish the station at the Arena, to cope with the decline in their fanbase, they might have some success...

Wasps will argue it’s to improve infrastructure and would have to be spent anyway

 

[Sky Blue Pete]

Wasps will argue it’s to improve infrastructure and would have to be spent anyway

Yeah no doubt in my mind they’ll get the money which is why wasps aren’t making statements or too worried

 

[Gynnsthetonic]

Yeah no doubt in my mind they’ll get the money which is why wasps aren’t making statements or too worried

Perhaps they aren't making statements because they genuinely don't know themselves

 

[Grendel]

Yeah no doubt in my mind they’ll get the money which is why wasps aren’t making statements or too worried

The fact they won’t make a comment Bon why they have applied is odd

Street is very public about things he’s involved in so people should ask him

 

[chiefdave]

Wasps will argue it’s to improve infrastructure and would have to be spent anyway

If there was a genuine infrastructure need would there be so much secrecy? We all know they have friends in the local media, even if they couldn't release it official we'd have an article from Bridge saying 'sources tell me'.

 

[oldfiver]

I might like Street a bit more if he rejects the wasps begging bowl though.

It will end up for CCCs decision

 

[Gynnsthetonic]

Reports on Drunken Drivel the bond has been turned down while Shugs thinks its a straightforward money given grant

 

[CCFC54321]

Mr Gilbert’s gone very quiet recently……quiet before the storm perhaps?