Wasps downward spiral... (57 Viewers)

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oldfiver

Well-Known Member
Grendel said:
what if a parent company of ACL 2006 isn’t insolvent or the asset distribution transfers between the group means ACL 2006 isn’t insolvent?

This is a SBSL and Otium entertainment scenario isn’t it?
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Not sure what Asset Distribution Transfers you mean? Can you clarify?

ACL and ACL2006 have guaranteed the Wasps Finance borrowings secured on their interest in the Arena. So if the Bond Holders call on the Security it will depend on what ACL can raise to pay the debt

I would need to look at the other 2 accounts to see what the position is
 
Gynnsthetonic

Gynnsthetonic

Well-Known Member
I think I've been barred from posting on Drunken Drivel, nothing abusive just trying to put my point of view across, anyone else had this trouble
 
Grendel

Grendel

Well-Known Member
Gynnsthetonic said:
I think I've been barred from posting on Drunken Drivel, nothing abusive just trying to put my point of view across, anyone else had this trouble
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Im still there
 
Gynnsthetonic

Gynnsthetonic

Well-Known Member
Grendel said:
Im still there
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I've been trying to post replies last 2 days but nothing shows up, it was OK either on in the week, I only joined on Sunday as had enough of some of these waffle, some new posters starting to appear from older wasp fans slating the move and the current regime. Some now follow Ealing
 
Gynnsthetonic

Gynnsthetonic

Well-Known Member
Tossers have barred me, not abusive or anything just trying to put over a constructive view
 

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chiefdave

chiefdave

Well-Known Member
Gynnsthetonic said:
I think I've been barred from posting on Drunken Drivel, nothing abusive just trying to put my point of view across, anyone else had this trouble
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Yep I had the same. Signed up when they first came here as they were posting stuff about the stadium situation that was wildly inaccurate. Tried posting a bit of the background info and immediately got kicked off.
 
fernandopartridge

fernandopartridge

Well-Known Member
Grendel said:
what if a parent company of ACL 2006 isn’t insolvent or the asset distribution transfers between the group means ACL 2006 isn’t insolvent?

This is a SBSL and Otium entertainment scenario isn’t it?
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The what if doesn't matter here though does it, it defines what insolvent means in this context
 
ccfcchris

ccfcchris

Well-Known Member
Someone needs to ask that idiot shugs how long Wasps have been playing at the CBS stadium. If the stadium is going to save them financially why hasn't it so far?
 
fernandopartridge

fernandopartridge

Well-Known Member
ccfcchris said:
Someone needs to ask that idiot shugs how long Wasps have been playing at the CBS stadium. If the stadium is going to save them financially why hasn't it so far?
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Well quite, the stadium is 17 years old now and has not turned any sustainable profit yet, not helped by the fact that its operating company has never been debt free. The lease premium YB loan / the CCC replacement loan / the bond. It's not going to get any better if they can refinance the bond.

Whether it was realistic or not I don't know, but SISU were on the right track to distress and discharge the YB loan in 2012.
 
chiefdave

chiefdave

Well-Known Member
Looking at the work going on for the Commonwealth Games is this going to end up like the Olympics where the setup and breakdown time meant they couldn't run other events and they lost money. Possibly why other venues pulled out and they ended up here.
 
Philosoraptor

Philosoraptor

Well-Known Member
"...all they need is a boyzone out of retirement weekend and problems all sorted apparently..."

Corker of a line. Made me smile
 
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Grendel

Grendel

Well-Known Member
Philosorapter said:
"...all they need is a boyzone out of retirement weekend and problems all sorted apparently..."

Corker of a line. Made me smile
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Who said that?
 
ccfctommy

ccfctommy

Well-Known Member
fernandopartridge said:
Well quite, the stadium is 17 years old now and has not turned any sustainable profit yet, not helped by the fact that its operating company has never been debt free. The lease premium YB loan / the CCC replacement loan / the bond. It's not going to get any better if they can refinance the bond.

Whether it was realistic or not I don't know, but SISU were on the right track to distress and discharge the YB loan in 2012.
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Nearly old enough to drink.
 
Flying Fokker

Flying Fokker

Well-Known Member
It was a weird, not an approach, more one Upmanship. Stupid prat, word in my ear, reminded me of someone who may have been educated at public school. I dislike man.
 
Kneeza

Kneeza

Well-Known Member
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oldfiver

Well-Known Member
Kneeza said:
Never has been.
Tigers can fuck right off too though. They raped Coventry for talent for too many years, taking so many from the club, the city, and the county.
However, at least they're a localish club, and I almost regard them warmly nowadays given the presence of the invading filth.
Almost.
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They have sent a few loanees to BPA over past few season?

There is quite a close connection between both teams
 
Kneeza

Kneeza

Well-Known Member
oldfiver said:
They have sent a few loanees to BPA over past few season?

There is quite a close connection between both teams
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And most of them, apart from Richardson, were a waste of space.
Having lifted Grindal, Balding, England internationals Goode, Cockerill and many others from the club*, plus Lloyd, Garforth, Hamilton, and many more international standard players from the city and county, I consider one loan of a reasonable academy player in return as very poor payback indeed.
Fuck 'em.

(Edit: and of course, very recently, Nic Dolly, who has also gone on to be selected for the England squad).
 
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Covkid1968#

Covkid1968#

Well-Known Member
Kneeza said:
And most of them, apart from Richardson, were a waste of space.
Having lifted Grindal, Balding, England internationals Goode, Cockerill and many others from the club, plus Lloyd, Garforth, Hamilton, and many more international standard players from the city and county, I consider one loan of a reasonable academy player in return as very poor payback indeed.
Fuck 'em.
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Yep this is where I am….so frustrating that we should have been in Tigers position now given our status in English Rugby back in the day.
 
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Deleted member 5849

Guest
Covkid1968# said:
Yep this is where I am….so frustrating that we should have been in Tigers position now given our status in English Rugby back in the day.
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Can also blame Rugby Lions for poaching a bunch of players in the 80s.
 
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Deleted member 5849

Guest
Kneeza said:
True. But look where they are now.
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That's as much the fantasist who promised them a 20k stadium etc though, isn't it. I know they'd slipped, but he just finished them off.

Shame, I quite like Webb Ellis Road!
 
Kneeza

Kneeza

Well-Known Member
Deleted member 5849 said:
That's as much the fantasist who promised them a 20k stadium etc though, isn't it. I know they'd slipped, but he just finished them off.

Shame, I quite like Webb Ellis Road!
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Also true.
Yes, Webb Ellis Rd is a nice little ground. A friend played for them when they were in the top division (and propped Brainy!). He still plays for Banbury vets' side. Too fat, too old, but some people just don't know when to retire!
When I met my missus she lived on the road behind WER, Johnson Ave, and we used to go occasionally.
Nice clubhouse too.
 
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