Wasps going into admin & the impact on CCFC (211 Viewers)
- Thread starter Alkhen
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Liquid Gold
Well-Known Member
Do they want to rugby world to go into mourning? A 10 day enforced period with a queue to view the arena all the way round the ring road?
Rugby is fucked because they mainly lose money, these clubs have made an effort to reduce that, fair play.
Nick
Administrator
Oh they look like they are blaming Exeter if they get kicked out the league.
Ironically the same account gloats about Saracens.
hill83
Well-Known Member
OMG GUYS WE DON'T DO THINGS LIKE THAT IN THE RUGGER FAMILY THAT'S FOR THE FOOTBALL LOUTS. A PLAGUE A'BOTH YOUR CHINS
jordan210
Well-Known Member
The #onceawasp hashtag has some crackers on it
Liquid Gold
Well-Known Member
hill83
Well-Known Member
PUSB-We_are_going_up
Well-Known Member
Isnt that an average gate of like 17,000?
Serious question here as someone suggested tonight could the wasps directors be under any criminal investigation for the £35m bond and allowing the business to run massive debts? Even though back in 2018 the auditors declared the business wasn’t a going concern.
Personally I can’t see any way this can be proven that there was no intention of paying the bond back and I very much doubt this was the intention and it was all done in good faith, but it does raise the question if they could face an investigation?
Personally I can’t see any way this can be proven that there was no intention of paying the bond back and I very much doubt this was the intention and it was all done in good faith, but it does raise the question if they could face an investigation?
No the agreement would stand at the moment.
fernandopartridge
Well-Known Member
Wasps fans ought to turn their ire at Richardson, Eastwood et al. These people ruined their standing in the rugby world and now look like they might finish Wasps as a top flight entity.
Where is Mary Mungo Midge?
Sent from my SM-G935F using Tapatalk
Where is Mary Mungo Midge?
Sent from my SM-G935F using Tapatalk
Nick
Administrator
I saw one of their fans say the other day they hope Richardson doesn't lose too much.
It's weird.
They still don't seem to understand how fucked Wasps are and why.
shepardo01
Well-Known Member
Over 10k.... 
- Read the last line..
- Read the last line..
Liquid Gold
Well-Known Member
That would require too much introspection and the realisation that they've been lied to for years.
No chance.
They discussed this on TalkSport this evening.... Darren Bent was saying that he lives near the Ricoh and it was a "massive loss" to Coventry and the community.
They did have a rugby expert on who vaguely pointed out some animosity from the football club. But it was about as in-depth a discussion as you'd expect from TalkSport.
They did have a rugby expert on who vaguely pointed out some animosity from the football club. But it was about as in-depth a discussion as you'd expect from TalkSport.
Grendel
Well-Known Member
A lot do like Kent wasp and oddly Sussex wasp but vulgaris has banned negative dissenters off the main forum
fernandopartridge
Well-Known Member
Nick
Administrator
Which community is he living in where it will be a loss?
oldskyblue58
CCFC Finance Director
Richardson is a big creditor though and its whether there is any precedence in the debts which is the big issue. I still think that a likely outcome of this process is that another Richardson controlled entity is able to buy the assets.
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Precedence is bondholders then HMRC. Whatever's left after that goes to the other creditors.
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Fixed charges take precedence over hmrc debt and all other debts There are two fixed charges on wasps holdings one in favour of the bondholders the other in favour of Richardson. So he might not take a hit or as big a hit as it seems. Things like the sports grants, ordinary traders, major suppliers will bear the brunt
The statement issued seems to me to be part of a planned process which I think will end with Ashley owning the stadium. In terms only of the stadium he would not be my choice. Needs a specialist stadium operator. In terms of ccfc future though he would be the obvious choice to get the stadium
As for American billionaires I don't think they are involved as this is going to all happen quite quickly if the statement is to be believed. Can't help thinking there is a lot of stage management going on.
Not sure where that leaves wasps, could easily be a new company that buys the rugby assets and plays somewhere down the leagues. I suppose more likely 150 years of history sacrificed for sake of a year in championship in a brand new company and a deal that keeps them at CBSA until they get back to the Premiership (year after next )
I wouldn't want to be a trade creditor of wasps right now not looking like they will get anything back which could mean job losses but hey that's OK the bondholders will get sorted.
The bondholders knew the risk, knew investments dont always work, took the high interest and belly ached because they chose to make a bad investment that might not pay out. Meanwhile hard working people will be out of a job just as the economy tanks interest rates & inflation rocket.
Wasps are famous club run by a bunch of shysters good riddance. No sympathy from me
Evo1883
Well-Known Member
Sums the whole thing up , plus their future is never going to be worth it in Coventry
Flying Fokker
Well-Known Member
Blame the Germans.
Skyblueweeman
Well-Known Member
Alright Bob Marley
Nick
Administrator
I tried weed about 12 years ago. Been straight up rasta since.
Flying Fokker
Well-Known Member
Precedence is bondholders then HMRC. Whatever's left after that goes to the other creditors.
[/QUOTE]
Fixed charges take precedence over hmrc debt and all other debts There are two fixed charges on wasps holdings one in favour of the bondholders the other in favour of Richardson. So he might not take a hit or as big a hit as it seems. Things like the sports grants, ordinary traders, major suppliers will bear the brunt
The statement issued seems to me to be part of a planned process which I think will end with Ashley owning the stadium. In terms only of the stadium he would not be my choice. Needs a specialist stadium operator. In terms of ccfc future though he would be the obvious choice to get the stadium
As for American billionaires I don't think they are involved as this is going to all happen quite quickly if the statement is to be believed. Can't help thinking there is a lot of stage management going on.
Not sure where that leaves wasps, could easily be a new company that buys the rugby assets and plays somewhere down the leagues. I suppose more likely 150 years of history sacrificed for sake of a year in championship in a brand new company and a deal that keeps them at CBSA until they get back to the Premiership (year after next )
I wouldn't want to be a trade creditor of wasps right now not looking like they will get anything back which could mean job losses but hey that's OK the bondholders will get sorted.
The bondholders knew the risk, knew investments dont always work, took the high interest and belly ached because they chose to make a bad investment that might not pay out. Meanwhile hard working people will be out of a job just as the economy tanks interest rates & inflation rocket.
Wasps are famous club run by a bunch of shysters good riddance. No sympathy from me
[/QUOTE]
Just wondering? Is it likely that Ashley will buy in the expertise to run the stadium/ any acquired business? I know that event companies are such but a guy like Ashley would surely know how to pull the resources together? Oh, and well said BTW.
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Brighton Sky Blue
Well-Known Member
A time for reflection on one's previous life choices
Grendel
Well-Known Member
Ashley is in prime position and will take the club and the arena i think
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