Wasps downward spiral... (55 Viewers)

[AOM]

That article from Dellagio is even funnier

The forum regulars trust Lozza - I said that’s what he’s wife said once - that’s a lack of respect of someone with mental health issues which is why he spent £10 grand on Coke and hookers

Is Lawrence Dallaglio even involved with Wasps or is it like the equivalent of Dennis Wise coming out with random incoming positive news about Coventry City?

 

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[Nick]

Is Lawrence Dallaglio even involved with Wasps or is it like the equivalent of Dennis Wise coming out with random incoming positive news about Coventry City?

He's a director.

 

[Moff]

He's a director.

With his history he would have been better as a Social secretary

 

[AOM]

He's a director.

Fair enough. Wouldn't mind hearing from Dennis Wise though...

 

[Gynnsthetonic]

Isn't the £2m interest on the bond due shortly too, where's that coming from?

 

[Kneeza]

Isn't the £2m interest on the bond due shortly too, where's that coming from?

Piece of piss. That's the income from ACL. Have you not read the article copied above?

 

[MusicDating]

More from Dallaglio in today's Sunday Times -

'I can’t comment on Worcester but I will say that I expect Wasps to find a way out of their predicament. The situation is a bit different from that of the Warriors, given there are other enterprises — all equally badly affected by the loss of revenue brought on by Covid — that are folded into the same business as the Wasps rugby club. It’s complicated because of the debt structure with which the club were bought but there is no reason it can’t be a viable business. If the move to Coventry hadn’t taken place in 2014 then the administrators might have been called in a few years ago.'

They're definitely going to play the Covid card when they go into admin then.

 

[wingy]

More from Dallaglio in today's Sunday Times -

'I can’t comment on Worcester but I will say that I expect Wasps to find a way out of their predicament. The situation is a bit different from that of the Warriors, given there are other enterprises — all equally badly affected by the loss of revenue brought on by Covid — that are folded into the same business as the Wasps rugby club. It’s complicated because of the debt structure with which the club were bought but there is no reason it can’t be a viable business. If the move to Coventry hadn’t taken place in 2014 then the administrators might have been called in a few years ago.'

They're definitely going to play the Covid card when they go into admin then.

That complicated structure rears its head again.
Fully expect when the event happens there will be some sacrificial element that disappears carrying no assets but plenty of debt.

 

[Terry Gibson's perm]

More from Dallaglio in today's Sunday Times -

'I can’t comment on Worcester but I will say that I expect Wasps to find a way out of their predicament. The situation is a bit different from that of the Warriors, given there are other enterprises — all equally badly affected by the loss of revenue brought on by Covid — that are folded into the same business as the Wasps rugby club. It’s complicated because of the debt structure with which the club were bought but there is no reason it can’t be a viable business. If the move to Coventry hadn’t taken place in 2014 then the administrators might have been called in a few years ago.'

They're definitely going to play the Covid card when they go into admin then.

The way they talk you would think they were the only company that was affected by covid

 

[tisza]

More from Dallaglio in today's Sunday Times -

'I can’t comment on Worcester but I will say that I expect Wasps to find a way out of their predicament. The situation is a bit different from that of the Warriors, given there are other enterprises — all equally badly affected by the loss of revenue brought on by Covid — that are folded into the same business as the Wasps rugby club. It’s complicated because of the debt structure with which the club were bought but there is no reason it can’t be a viable business. If the move to Coventry hadn’t taken place in 2014 then the administrators might have been called in a few years ago.'

They're definitely going to play the Covid card when they go into admin then.

He's just repeating what he's been told to say

 

[chiefdave]

More from Dallaglio in today's Sunday Times -

'I can’t comment on Worcester but I will say that I expect Wasps to find a way out of their predicament. The situation is a bit different from that of the Warriors, given there are other enterprises — all equally badly affected by the loss of revenue brought on by Covid — that are folded into the same business as the Wasps rugby club. It’s complicated because of the debt structure with which the club were bought but there is no reason it can’t be a viable business. If the move to Coventry hadn’t taken place in 2014 then the administrators might have been called in a few years ago.'

They're definitely going to play the Covid card when they go into admin then.

Not sure anyone is going to believe the guy that only a few days before they stated an intention to go into administration said everything was fine and there was definitely no problems with the finances.

 

[Nick]

Not sure anyone is going to believe the guy that only a few days before they stated an intention to go into administration said everything was fine and there was definitely no problems with the finances.

Their fans do

 

[chiefdave]

Their fans do

At this stage I think the club could be shut down and cease to exist and the fans would still be saying everything was fine

 

[Gynnsthetonic]

At this stage I think the club could be shut down and cease to exist and the fans would still be saying everything was fine

 

[Alan Dugdales Moustache]

Anyone know what wasps' home attendances are so far this season, if any ?

 

[MalcSB]

Anyone know what wasps' home attendances are so far this season, if any ?

Only one Prem home game, 6878. 8th highest out of 13.

 

[MalcSB]

Their fans do

Not all of them.

 

[Kneeza]

Worcester have basically been shut down now, with staff being locked out, including the caretaker and wife being evicted from their apartment within the ground, and the men's and women's teams effectively barred from competition.
Not Wasps, I know, but a poor reflection on the state of top-flight rugby.

 

[Earlsdon_Skyblue1]

Worcester have basically been shut down now, with staff being locked out, including the caretaker and wife being evicted from their apartment within the ground, and the men's and women's teams effectively barred from competition.
Not Wasps, I know, but a poor reflection on the state of top-flight rugby.

The same thing needs to happen to Wasps next. I would love to see them locked out of the CBS and a photo of all the ring leaders stood there in the rain wondering what the hell is going on.

 

[chiefdave]

The same thing needs to happen to Wasps next. I would love to see them locked out of the CBS and a photo of all the ring leaders stood there in the rain wondering what the hell is going on.

According to a colleague who is a rugby nut the issue the RFU have with Worcester is that the business is split into multiple companies and assets that you'd expect to be under the ownership of the rugby club have been moved out of the group to other owners, sound familiar?

 

[Grendel]

According to a colleague who is a rugby nut the issue the RFU have with Worcester is that the business is split into multiple companies and assets that you'd expect to be under the ownership of the rugby club have been moved out of the group to other owners, sound familiar?

I don’t think it’s that - it’s a multitude of issues

 

[jordan210]

When's the next bond payment due ?

 

[SBAndy]

When's the next bond payment due ?

Interest payment theoretically due 13th November.

 

[MusicDating]

Interest payment theoretically due 13th November.

I suspect it'll get decided one way or another before then.

 

[LastGarrison]

I have a confession to make.

I have just checked the BBC website in the hope that a Leicester team have won a match {shudder} and they have.

 

[chiefdave]

Probably not the best time to be trying to borrow £35m plus off someone or find an investor

 

[oldfiver]

Probably not the best time to be trying to borrow £35m plus off someone or find an investor

Unless overseas investor

 

[Gynnsthetonic]

It's been week now issuing their intent to go into administration

 

[Houchens Head]

When's the next bond payment due ?

They're bringing in Daniel Craig?? Jeez!!

 

[MusicDating]

Wasps Bondholders Association

 

[duffer]

Wasps Bondholders Association

To use a technical term, I think they're getting their shit together!

Rightly so too; regardless of opinions about Wasps, the bondholders have been treated poorly by the club. The trustee also seems remarkably casual about supporting their best interests, as will any Administrator paid for by Wasps, I'd imagine...

 

[CCFC54321]

 

[Nick]

"Elite", is that like the "buzz" word for Wasps promotion?

 

[MalcSB]

To use a technical term, I think they're getting their shit together!

Rightly so too; regardless of opinions about Wasps, the bondholders have been treated poorly by the club. The trustee also seems remarkably casual about supporting their best interests, as will any Administrator paid for by Wasps, I'd imagine...

I think they were getting their shit together, but have now dropped it down the pan.

 

[shepardo01]

I think they were getting their shit together, but have now dropped it down the pan.

What makes you say that Malc?