I wouldn't count your chickens yet - they might still somehow get out of all this still as our landlords. Hopefully not and if they survive it will be back in London, but stranger things have happened
Are we better off because Wasps have gone bump? (3 Viewers)
- Thread starter JAM See
- Start date
HuckerbyDublinWhelan
Well-Known Member
Covkid is keen to bring SISU into every argument isn’t he on drunken wasps.
literally the case of “well SISU can’t either”
expecting him to pop up on a thread about petrol prices saying “yeah the prices have gone up to £1.80 but let’s face it SISU wouldn’t pay them prices
literally the case of “well SISU can’t either”
expecting him to pop up on a thread about petrol prices saying “yeah the prices have gone up to £1.80 but let’s face it SISU wouldn’t pay them prices
Liquid Gold
Well-Known Member
Emblematic of the turncoats that abandoned us because they saw sisu as the boogeyman now can't get their head around Wasps' owners being worse.
Skyblueweeman
Well-Known Member
I don't see how they can continue to be our landlords when they cannot even afford the interest on the £35m they owe to pay for the initial purchase 8 years ago.
duffer
Well-Known Member
Well never say never, but to do that they're going to have to find investors with somewhere north of 50-60m to settle all the debts and pay off the bondholders, and they'll have to step up before administration is entered if they want to be sure of being a Premiership team next year.
Given where things are, that seems somewhat unlikely, imho.
Gynnsthetonic
Well-Known Member
Maybe not Wasp as our landlord but Derek Richardson and a new company as he looks likely the biggest creditor not counting the bondholders
duffer
Well-Known Member
Possible, but I'm not sure. The bondholders want 35m and they are first in line. Then it's HMRC.
There might be that kind of money in the stadium lease if it's sold, but if Richardson had those kind of funds and that kind of desire, I would've thought he'd have stepped up by now and avoided administration and likely relegation, and a possible bidding war for the lease.
I think the talk of boardroom splits is because he wants out now with the most he can get. Guess we'll soon see.
Old Warwickshire lad
Well-Known Member
No scrums,no rucks or lineouts. Pitch should hold up fine to one game of RL.
Skyblueweeman
Well-Known Member
He'd still need to find £35m (plus interest) to pay the bondholders back before a new company took over it. Then he'd have to finance a loss making rugby club. Given the fact that he's losing millions each year, I'd suggest this won't be the case (but happy to be proven wrong).
I'd also suspect the RFU would (or definitely should) be asking questions if he were to be the new defacto owner of Wasps, given the way they've been run, that's lead them to this situation.
NortonSkyBlue
Well-Known Member
Who ends up with the stadium is the answer to the question “what will it mean for us?”
if it’s still Wasps then I hope they haven’t dipped into this forum.
if it’s the council then I hope the players have changed in the interim years
if it’s SISU then we are sentenced to life with no get out of jail free card
if it’s a billionaire I hope they have a pound more than Manchester City
if it’s Ashley I hope he wants to finish a place above Newcastle in the years to come
if it’s still Wasps then I hope they haven’t dipped into this forum.
if it’s the council then I hope the players have changed in the interim years
if it’s SISU then we are sentenced to life with no get out of jail free card
if it’s a billionaire I hope they have a pound more than Manchester City
if it’s Ashley I hope he wants to finish a place above Newcastle in the years to come
Gynnsthetonic
Well-Known Member
I meant him and a new company as our landlord, nothing to do with owning Wasp, they'll be gone elsewhere
chiefdave
Well-Known Member
Not sure why Richardson would stick around unless there's a very easy route to getting his money back. The idea that he gives a shit about Wasps is nonsense.
He moved them across the country to make himself money, part of the reason they're saddled with so much debt is because he loaded an extra £10m on the bond to pay himself back. Add to that media reports going back a few years now that his personal wealth was dwindling and he couldn't afford to keep putting money into Wasps and it all points to him grabbing back as much as he can and getting out.
He moved them across the country to make himself money, part of the reason they're saddled with so much debt is because he loaded an extra £10m on the bond to pay himself back. Add to that media reports going back a few years now that his personal wealth was dwindling and he couldn't afford to keep putting money into Wasps and it all points to him grabbing back as much as he can and getting out.
SkyblueDad
Well-Known Member
Perhaps we should be giving Vito Corleone a ring
COVKIDSNEVERQUIT
Well-Known Member
If SISU don’t step up to the plate now and make an offer for the Arena, it will just demonstrate once and for all that they were just trying to get their hands on it for next to nothing with all those court cases. I suppose the sharks will start bleating about new stadium never never land again though……
fatso
Well-Known Member
They will certainly never have a better chance.
shmmeee
Well-Known Member
Or even better let the club and the arena go to someone competent and rich enough for Championship football