Wasps downward spiral... (81 Viewers)

oldfiver

Well-Known Member
Comment by Lee Blackett, Coventry Telegraph article: "everyone has got a lot of trust in people here that they're going to do the right thing for this club." Player recruitment hints at improved finances, let's hope so. One day left, NOT a lot of trust on this board.

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chiefdave

Well-Known Member
He (Richardson) said: "I’m not a property developer, I’ve never developed anything in my life.
Tbf, that's still true; he failed to develop the land around the Higgs, and car park C...
I remember a report saying that one of the Wasps directors had turned up at a property development conference and described Wasps as a property development company which just happened to have a rugby club attached.

Of course all Wasps supporters decided to ignore this as they prefer to believe that Richardson has some deep love for the club because they had a pint with him once. I can't imagine a similar response if Fisher said something like that.

Didn't they also buy some land next to Higgs to build houses on and then quietly get rid of it with nothing having happened?
 

Liquid Gold

Well-Known Member
I think Simon Gilbert has done pretty well with his investigating and reporting of all the recent CBS/Wasps issues.

Seems to be asking the right questions, and then highlights when those questions are being met with silence
Shows what a prick he is though given it shows hes had the capability to ask these questions for the last 7 years but is only bothered now wasps are unpopular.

When it was prudent for him to attack the club to sell a book he was right in it.
 

oldfiver

Well-Known Member
I remember a report saying that one of the Wasps directors had turned up at a property development conference and described Wasps as a property development company which just happened to have a rugby club attached.

Of course all Wasps supporters decided to ignore this as they prefer to believe that Richardson has some deep love for the club because they had a pint with him once. I can't imagine a similar response if Fisher said something like that.

Didn't they also buy some land next to Higgs to build houses on and then quietly get rid of it with nothing having happened?


 

oldfiver

Well-Known Member
Shows what a prick he is though given it shows hes had the capability to ask these questions for the last 7 years but is only bothered now wasps are unpopular.

When it was prudent for him to attack the club to sell a book he was right in it.

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fastcat99
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30 Aug '22 - 18:45 - 966 of 966
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I haven't looked at "recent comments" (? ie on Coventry Live/Telegraph websites ?)

Here is my take on Gilbert and Wasps:
The last chapter (albeit entitled "Sting in the tail"!) in his book "Coventry City, a club without a home" is pretty fair and astute; the angry "comments" immediately above seem to refer to other issues.

Published in 2016, it was very critical of some Wasps/D.Richardson behaviours which still seem endemic (a preference for backdoor deals, pass-the-parcel financing, complicated interlocking business structures) but he was certainly not naively approving of the other actors
Gilbert also pointed how futile it would be it the compromise between Public Authorities + Charity, CCFC and the new-comer Wasps were to bust open again - as soon happened thereafter.
CCFC seem to have been treated pretty shabbily in 2016 (pitch dimensions, damage, and use of home changing room) even before Wasps arrived on the scene; but again, these issues seem to remain endemic.

Gilbert (knows his readership) probably has bigger problems with the club's own owners, SISU, than with anyone else...​
 

Gynnsthetonic

Well-Known Member
Derek Arthur Richardson appointed Director of ACL Limited and ACL 2006 on 25th August 2022. What's that all about, both with overdue accounts
 

jordan210

Well-Known Member
Odd that Mr Richardson is Director of multiple companies with similar names and in similar sectors

ARENA QUARTER COVENTRY LTD - Other letting and operating of own or leased real estate
AQ 1 LIMITED - Development of building projects
AQ 2 LIMITED - Construction of commercial buildings
 

MalcSB

Well-Known Member
Odd that Mr Richardson is Director of multiple companies with similar names and in similar sectors

ARENA QUARTER COVENTRY LTD - Other letting and operating of own or leased real estate
AQ 1 LIMITED - Development of building projects
AQ 2 LIMITED - Construction of commercial buildings
Don’t forget Commonwealth Convention Centre Ltd
 

Gynnsthetonic

Well-Known Member
Odd that Mr Richardson is Director of multiple companies with similar names and in similar sectors

ARENA QUARTER COVENTRY LTD - Other letting and operating of own or leased real estate
AQ 1 LIMITED - Development of building projects
AQ 2 LIMITED - Construction of commercial buildings
Havnt noticed them, interesting!
 

duffer

Well-Known Member
Shadiness abounds!

According to the bondholder forum the bonds can't be relisted (i.e. traded on the stock exchange) until the accounts are audited and released. Relisting is a key component of the Consent Solicitation (the bit where Wasps ask the bondholders to accept reduced or extended terms for repayment).

And now Richardson is suddenly involved in ACL again.

Could this mean a personal bailout of ACL is coming so that the accounts can be released, perhaps, or something more dubious?

I'd have thought he could loan money to them without becoming a director again if that is what it's all about... Either way, it still looks sticky for Wasps.
 

Mcbean

Well-Known Member
Just seen a proposal ( Cov Telegraph) for them to join up with Worcester warriors - that would be great and they can fuck off to Worcester ! Sadly it won’t make the first hurdle and of course anything from the CT is to be taken with pinch of salt
 

Mcbean

Well-Known Member
I thought wasps rejected that?
They did but you never know if there’s a hybrid agreement that might work - sadly the way the press are going someone will pull wasps from the shit but Worcester look doomed but hey white knights only arrive at the last minute literally - from experience you understand !
 

MalcSB

Well-Known Member
All outrageous. One of the main things senior people involved did to get fellow council members on board (and back selling to Wasps) was the push "economic development of the area around the Arena" angle.
Nothing done since then apart from block a new hotel & Macdonalds next to the Arena
The crazy thing is that Sisu might actually have been able to attract some funding to develop some real estate in the arena area.
 

chiefdave

Well-Known Member
It doesn't really deserve to survive
What I can't get my head round is professional rugby and the Premiership are both relatively new. They had every chance of setting things up in a way that would have been sustainable long term but instead have for some reason decided rugby is going to suddenly be as popular as football if they throw enough money at it.
 

tisza

Well-Known Member
What I can't get my head round is professional rugby and the Premiership are both relatively new. They had every chance of setting things up in a way that would have been sustainable long term but instead have for some reason decided rugby is going to suddenly be as popular as football if they throw enough money at it.
I'll keep banging this drum. Rugby Union isn't as big as it thinks it is.
Basically entire North of the country covered by 2 professional Union clubs who can't manage attendances of more 13k between them.
How can so many large cities have no professional team? Birmingham, Liverpool
Rugby special was hidden away on BBC2 - there was no mass audience that was prepared to migrate to pay TV like there was with football.
Let's be honest it's only the top end of football making money - rugby can't, cricket struggles,most football clubs can't. Isaw some report that rugby was going to have some new magic professional short form of the game to raise its appeal (Hundred anyone?)
 

chiefdave

Well-Known Member
Hasn't another deadline just past with nothing happening. How many deadlines can they miss before there's some action taken?
 

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