Wasps downward spiral... (54 Viewers)

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fernandopartridge

fernandopartridge

Well-Known Member
In an administration is the club's lease agreement an asset to transfer to a new entity if Wasps agree a CVA

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Moff

Moff

Well-Known Member
Argued this would happen with Italia all those years ago.
Heard rumblings at an early stage that it was boom or bust and it just wasn’t happening.
I wish he was still here to rub his nose in it, after he laughed it off time and again.
 
Moff

Moff

Well-Known Member
Kneeza said:
It really is time to abandon the over-elongated professionalism experiment in RU.
After spending a good many years rueing the fact that Cov missed the opportunity, I'm actually very glad they did now.
Leave pro sport to those that have a fckn clue.
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Totally agree Kneeza
 
Liquid Gold

Liquid Gold

Well-Known Member
I may be wrong but I'm pretty sure OSB said the bonds weren't going to be the be all and end all (paraphrasing).

Never trust an accountant.
 
chiefdave

chiefdave

Well-Known Member
Frostie said:
Shugs will be along shortly to tell everyone that this is actually good news, standard practice and that all sports clubs will be doing the same.
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There's actually already people on their forum saying how this is great news and part of a genius plan. Taking heads in the sand to new levels.
 
Terry Gibson's perm

Terry Gibson's perm

Well-Known Member
I wonder how much they have shuffling around to leave the bad bits behind, the training ground had a little move recently
 
Grendel

Grendel

Well-Known Member
Wonky is hoping Derek and his family are ok
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H

HuckerbyDublinWhelan

Well-Known Member
Seriously though - let’s face it, they’re about to shaft all the normal people who work at the CBS and for wasps. Genuinely feel for them

Vaughan, Eastwood and Richardson will get off Scot free.

fuck the fans and the rugby club though

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chiefdave

chiefdave

Well-Known Member
Terry Gibson's perm said:
I am sure they will be but small business that have been doing work for them will be shafted.
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One of the issues if they try and shaft the bondholders is that a decent chunk of them will be regular supporters taken in by the 'we'll be the richest and most successful club in the world' rubbish. Surely even Wasps fans wouldn't support their own supporters being ripped off.
 
tisza

tisza

Well-Known Member
Just a feeling that Wasps will dodge relegation and have something in mind to dodge a lot of the grief. RFU will find a way out for them ég blaming it all on COVID.
Look how SISU moved things around before our various administration issues. Richardson making those board changes a few weeks back
 
duffer

duffer

Well-Known Member
tisza said:
Just a feeling that Wasps will dodge relegation and have something in mind to dodge a lot of the grief. RFU will find a way out for them ég blaming it all on COVID.
Look how SISU moved things around before our various administration issues. Richardson making those board changes a few weeks back
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I can see them dodging relegation - they'll claim it's all down to Covid (conveniently ignoring their endless years of losses and then the borrowing of £35m at 6.5% with no real idea of how to pay it back). The RFU will conspire with them because... well that's what the RFU do, look after their own and fuck the rest.

However, the bondholders, they won't go quietly and they've got an absolute chokehold on the stadium side of the business. Wasps won't come through this without a scratch, imho.
 
skybluetony176

skybluetony176

Well-Known Member
Hard to see what this will ultimately mean. Having gone through our own administration and coming out the other side with very little changed I’m sceptical about Wasps pending administration.
 
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