Gynnsthetonic
Well-Known Member
I thought only part of the group had (Wasp Holdings), IEC and Wasp RFC hadnt.
Wasps downward spiral... (21 Viewers)
- Thread starter CCFC54321
- Start date
Grendel
Well-Known Member
Wasps holdings are the group so it’s odd but Derby county didn’t file for 2 years
Grendel
Well-Known Member
On drunken wasps they are bumbling about the training ground and Vaughan when asks who will own the site just lies
Wasps' training ground move - the big questions answered
Gallagher Premiership club has announced it plans to move to a new training ground base ahead of the 2020/21 season
www.coventrytelegraph.net
shepardo01
Well-Known Member
"It fell into our laps"On drunken wasps they are bumbling about the training ground and Vaughan when asks who will own the site just lies
Wasps' training ground move - the big questions answered
Gallagher Premiership club has announced it plans to move to a new training ground base ahead of the 2020/21 seasonwww.coventrytelegraph.net
"we have a strong relationship with Warwickshire College Group" (Obviously Nick Eastwood "appearing" on their governors)
How do they manage to pull this shit off!!
tisza
Well-Known Member
Article fairly gloomy for the future anyway. It's money upfront rather than extra money ( much like the TV money etc they've already used). Plus there's the 10 odd million borrowed from govt during COVID.So that's 20m split across 13 clubs, if I've read it right, with the level depending upon how many players from each club play for England. I'm not sure that this will get Wasps out of the hole they're in. A real pity, I know.
Kneeza
Well-Known Member
I don't know what I'm talking about, but, would you agree new terms?
Peter Billing Eyes
Well-Known Member
Is it too much to hope that some of this will be used to pay us for the pitch repairs?
HuckerbyDublinWhelan
Well-Known Member
I imagine they will. It’ll either be that or get no money back
What is even odder (to us bean counters any way ) is the Holding Company has filed group accounts which includes the two errant companies
shepardo01
Well-Known Member
They've released the kit today, announced brand new club shop over weekend, season tickets on sale....
Don't think their demise will be as immediate as we are all hoping for......
Don't think their demise will be as immediate as we are all hoping for......
Moff
Well-Known Member
They still need customers to buy them, and there isn’t many.
Millions in losses year on year, dwindling fan base….it’s only heading in one direction…but how long they take to get there is the ultimate question.
Gynnsthetonic
Well-Known Member
Free tickets for season ticket holders for the first 4 games bring a mate
chiefdave
Well-Known Member
Bit weird as they said they were stopping handing out tickets like confetti but you've got this and there was a link on their website where anyone could put their email address in and get free tickets. How do you become a sustainable business when you give your product away for free all the time?
Grendel
Well-Known Member
As part of the Henley deal they offered 1,000 free tickets a year to clubs in the henley area for 10 years
duffer
Well-Known Member
I think it depends how bullish they're feeling and whether they think Wasps will ever be in a position to fully redeem the bonds (or pay an even higher level of ongoing interest going forward).
Ultimately, the bondholders have got security via the stadium and the p-shares (iirc on the latter).
It could be they'd be better forcing the sale and getting something back now rather than ending up in an even worse state in a year or two.
From a purely financial point of view Wasps look like a basket case to me. I'd want to get whatever I could now before it all goes down the pan.
Grendel
Well-Known Member
It’s not that straightforward
they haven’t really got any security at all in the event of administration being forced on ACl and it’s likely the purchase price would get significantly driven down.
No one knows who the large investors are but I think there will be a vast number with £5 k and under. They’d lose most of the capital anyway so many will stick as they have little option
Earlsdon_Skyblue1
Well-Known Member
You are absolutely right, however, they don't need to be a sustainable business when they have the council/councillors in their pockets.
There's clearly some fairly high level corruption that's been in play from day one.
MalcSB
Well-Known Member
Have they file June 2022 accounts, if so where are they to be found?
They have until March 2023 to meet Companies House regs
But because a PLC WASPs Finance have to file December 31 and WASPs are published same time
Brighton Sky Blue
Well-Known Member
The first few years of freebies made some sense, come along and try the ‘product’ and see what you think. Then it just seemed to become a permanent thing to tackle waning crowds despite the council plugging them non stop and having everything in their favour.
Just imagine what CCFC could have done with similar support.
Grendel
Well-Known Member
The stadium is unmanageable for either club. The clubs have not got the resource - its a council vanity project that is doomed to fail
Brighton Sky Blue
Well-Known Member
Well I was more referring to the pre Wasps era of jacked up rent and lost revenue access
Grendel
Well-Known Member
Same problem - the stadium was still set up to fail
tisza
Well-Known Member
exactly right. Had 17/18 years of various stadium management entities and none have managed to do much with it. All sorts of large catering, corporate & entertainment partners and again none have cracked it.
Terry Gibson's perm
Well-Known Member
The problem is with freebies that the product has no value and when you start charging people go bloody hell that’s a thirty pound increase if they went up to thirty pounds for example.
MalcSB
Well-Known Member
Thanks, I was getting confused - I thought they were the timelines but interpreted your post as saying already filed (for 2022)
I have them on Auto reminder so will know when they file
alexccfc99
Well-Known Member
New kit is a beauty in fairness
Brighton Sky Blue
Well-Known Member
Wright Hassall is about right
It is for a firm of solicitors ( in Leamington, )
duffer
Well-Known Member
The bondholders are definitely getting twitchy, can't say that I blame them.
The trustee (who is supposed to act on their behalf) doesn't seem to be particularly proactive. I think that at least a few of them are getting organised for themselves now to push things along, they clearly don't like the way Wasps or the Trustee are dealing with this.
The trustee (who is supposed to act on their behalf) doesn't seem to be particularly proactive. I think that at least a few of them are getting organised for themselves now to push things along, they clearly don't like the way Wasps or the Trustee are dealing with this.
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