Wasps downward spiral... (59 Viewers)

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djr8369

Well-Known Member
If the wasps holding company was dissolved, the lease then reverted back to the council, could the council just sell it back to a new wasps holding company for a pitiful sum again?

On another note, there’s no chance the bond holders get all their money back, is there?
 
O

oldfiver

Well-Known Member
djr8369 said:
If the wasps holding company was dissolved, the lease then reverted back to the council, could the council just sell it back to a new wasps holding company for a pitiful sum again?

On another note, there’s no chance the bond holders get all their money back, is there?
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The council will be worried both financially and politically that WASPS will fail

Equally they are aware of local opinion and the gathering criticism of their pandering to WASPS

So expect some very creative PR !!

So exo

The Council canni
 
Flying Fokker

Flying Fokker

Well-Known Member
The ratepayers of Coventry have voted with their feet. Wasps is a dead duck.
Any money given to them will be taken from Coventry citizens. How would this be paid back? Free tickets to watch paint dry.

What is wasps core following? 4k fans.
 
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oldfiver

Well-Known Member
Flying Fokker said:
The ratepayers of Coventry have voted with their feet. Wasps is a dead duck.
Any money given to them will be taken from Coventry citizens. How would this be paid back? Free tickets to watch paint dry.

What is wasps core following? 4k fans.
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The application was sidestepped by CCC to WMCA. They get funded by Central Government so I suspect they will argue not local monies being used. It does beg the question however- how do WASPs always seem to get preferential treatment
 
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Gynnsthetonic

Gynnsthetonic

Well-Known Member
oldfiver said:
The application was sidestepped by CCC to WMCA. They get funded by Central Government so I suspect they will argue not local monies being used. It does beg the question however- how do WASPs always seem to get preferential treatment
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Whatever happens they're going to keep losing millions, it's unsustainable.
 
Grendel

Grendel

Well-Known Member
oldfiver said:
The application was sidestepped by CCC to WMCA. They get funded by Central Government so I suspect they will argue not local monies being used. It does beg the question however- how do WASPs always seem to get preferential treatment
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It hasn’t been granted yet and it does seem that the latest announcement on bonds is going to be as late as possible on Friday so it’s likely to not confirm the matter has been resolved
 
B

Brighton Sky Blue

Well-Known Member
oldfiver said:
The application was sidestepped by CCC to WMCA. They get funded by Central Government so I suspect they will argue not local monies being used. It does beg the question however- how do WASPs always seem to get preferential treatment
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Well if they grant it they set a precedent of clubs running into financial trouble and getting bailed out by the taxpayer. So interesting to see how they weave that one.
 
Gynnsthetonic

Gynnsthetonic

Well-Known Member
Sky Blue Pete said:
They need it
They can’t fail
Relationships between key players
Its outrageous

It will be agreed unanimously behind closed doors and ccc will find it. They can’t fail
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It won't be agreed, have faith, its not just CCC involved in this but all the other West Mids councils who hopefully see sense and turn it down.
 
Philosoraptor

Philosoraptor

Well-Known Member
Current thoughts about all this is: how long does it take LSE to reinstate the bond on the market, and what will happen to the bond price when they do...
 
Grendel

Grendel

Well-Known Member
Philosorapter said:
Current thoughts about all this is: how long does it take LSE to reinstate the bond on the market, and what will happen to the bond price when they do...
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It’s unlikely they will be reinstated
 
Bugsy

Bugsy

Well-Known Member
chiefdave

chiefdave

Well-Known Member
The concern for WMCA will surely be Birmingham City. They can't open half the ground until work is done and that's surely a much stronger case for economic benefit to the area or whatever waffle Wasps come up with. It really opens up a can of worms if they hand out money.

Having said that wouldn't surprise me in the slightest if they got it. Look at the sham with the money from the Commonwealth Games. After all this time that Wasps have claimed its a state of the art venue all of a sudden they can't host the games unless they get a large grant, something no other Games venue has had as far as I can tell. And lets be honest, the works done don't really stack up with the money given.
 
O

oldfiver

Well-Known Member
HuckerbyDublinWhelan said:
I don’t live in Coventry - so I wrote to my MP as a “concerned midlands citizen not happy that during this cost of living crisis I’m subsidising a company that won’t benefit the rest of the midlands”

surprisingly for a Tory he was receptive to my complaints and has gone to find out more for me.,
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Can you say which MP?
 
jordan210

jordan210

Well-Known Member
Next update is due no later than the 29th of July


giphy.gif
 
Grendel

Grendel

Well-Known Member
chiefdave said:
The concern for WMCA will surely be Birmingham City. They can't open half the ground until work is done and that's surely a much stronger case for economic benefit to the area or whatever waffle Wasps come up with. It really opens up a can of worms if they hand out money.

Having said that wouldn't surprise me in the slightest if they got it. Look at the sham with the money from the Commonwealth Games. After all this time that Wasps have claimed its a state of the art venue all of a sudden they can't host the games unless they get a large grant, something no other Games venue has had as far as I can tell. And lets be honest, the works done don't really stack up with the money given.
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It would surely only be a concern regarding Birmingham City if they have applied for funding
 
Grendel

Grendel

Well-Known Member
Sky Blue Pete said:
They need it
They can’t fail
Relationships between key players
Its outrageous

It will be agreed unanimously behind closed doors and ccc will find it. They can’t fail
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I would thing the concern for wasps will be timing. They will clearly not get the bond funding until they get the grant and time is getting tight.

I can’t see how grants or loans either can be issued until the delayed accounts are approved
 
O

oldfiver

Well-Known Member
jordan210 said:
Next update is due no later than the 29th of July


giphy.gif
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The update will say they are still progressing to being able to give another update in August
Grendel said:
I would thing the concern for wasps will be timing. They will clearly not get the bond funding until they get the grant and time is getting tight.

I can’t see how grants or loans either can be issued until the delayed accounts are approved
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If the parent company accounts were approved last November the subsidiaries/ associated would have had to been approved

The question should be why not published?
 
Gynnsthetonic

Gynnsthetonic

Well-Known Member
oldfiver said:
The update will say they are still progressing to being able to give another update in August


If the parent company accounts were approved last November the subsidiaries/ associated would have had to been approved

The question should be why not published?
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Well if they don't publish their accounts they won't get funding then, so why don't they just publish them.
 
O

oldfiver

Well-Known Member
Grendel said:
It would surely only be a concern regarding Birmingham City if they have applied for funding
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If they have not yet applied they certainly will if WASPS get funding

Have just passed the Arena, road signs warning of closures next week. How many they expecting? More significant is they refer to Birmingham 2022!!
 
Nick

Nick

Administrator
oldfiver said:
If they have not yet applied they certainly will if WASPS get funding

Have just passed the Arena, road signs warning of closures next week. How many they expecting? More significant is they refer to Birmingham 2022!!
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Yeah the whole branding is Birmingham 2022. Everything else is covered up.
 
Terry Gibson's perm

Terry Gibson's perm

Well-Known Member
Is there actually much going on at the Arena I haven’t bothered to look. Saw the logos when I drove past and thought that’s a bit of a waste of money for such a small time.
 
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