Wasps signs have actually gone!! (11 Viewers)

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Nick

Nick

Administrator
Isn't it illegal to pay for things in one company (or load debt up) when it's a completely unrelated company though? Knowing that it is in shit loads of debt.
 
Calista

Calista

Well-Known Member
Grendel said:
it’s a civil matter in reality if anything and it’s very difficult to prove directors acted knowingly when the company is insolvent
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Yes hard to prove, but ChiefDave (post #713) reckons there may have been a witness connected to Wasps who was prepared to speak about it? It's not like they were merely struggling a bit, and realistically hoping to turn the corner. They were tens of millions down.
 
MalcSB

MalcSB

Well-Known Member
jordan210 said:
Re training ground. Im guessing they lumped lots of the costs ageists the club for equipment and so on. The Holland purchased the other half to keep wasps/Richardsons with some money then rented it back at a stupid cost.

As Epic is owed nearly a million quid.
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There is nothing against EPIc, just a blank space (edit the numbers don’t seem to line up very well against the list of creditors so hard to tell). The £905k seems to be owed to Ernst and Young. There is £280k owed to Wigley Construction who built EPIC/ WNTG.
 
MalcSB

MalcSB

Well-Known Member
jordan210 said:
Re training ground. Im guessing they lumped lots of the costs ageists the club for equipment and so on. The Holland purchased the other half to keep wasps/Richardsons with some money then rented it back at a stupid cost.

As Epic is owed nearly a million quid.
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Apologies for doubting this in an earlier post. I have checked with my trusty steel ruler and it does look as if it is EPIC that was owed £950k.
 
jordan210

jordan210

Well-Known Member
MalcSB said:
Apologies for doubting this in an earlier post. I have checked with my trusty steel ruler and it does look as if it is EPIC that was owed £950k.
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I thought my eyes had gone funny. Glad they just about work.

It's odd that they owe so much to EPIC. can only be rent
 
Grendel

Grendel

Well-Known Member
Wasps owe Veae Fafita Rugby Acadamy £35 grand I think - Vaea Fafita is an ex player who started the company when he signed for wasps - as did Brad Shields

There doesn’t seem to actually be an academy
 
fernandopartridge

fernandopartridge

Well-Known Member
Grendel said:
Wasps owe Veae Fafita Rugby Acadamy £35 grand I think - Vaea Fafita is an ex player who started the company when he signed for wasps - as did Brad Shields

There doesn’t seem to actually be an academy
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It's registered as a northern Irish company: VAEA FIFITA RUGBY ACADEMY LIMITED filing history - Find and update company information - GOV.UK

Created 28 June 2021. His signing with Wasps announced on 30 June 2021.

It obviously isn't an academy, I have limited sympathy with him if he's not been paid.
 
tisza

tisza

Well-Known Member
Earlsdon_Skyblue1 said:
His comments are completely fair, and pretty much bang on to what a lot of us have been saying.
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Think it shows how useless RFU and Rugby Premiership are. Now saying they want a competitive 2 tier system having spent years gutting the finances from the 2nd Tier. There are few 2nd Tier clubs that can hope to meet Premiership entry requirements, finance academies etc. Wasn't long ago they were talking about creating a closed shop and basicallly finishing off Championship clubs.
 
B

Brighton Sky Blue

Well-Known Member
Calista

Calista

Well-Known Member
He also did not refute the notion of even one day returning to the CBS Arena, the ground they bought in December 2014, with the help of a loan from Coventry City Council.

"Who's to say we're not?" he said. "And I'm not saying we are. We've not concluded our conversations and we've not signed a contract yet."
 
Calista

Calista

Well-Known Member
'But Scott insists that they can all live happily alongside each other and sees this as a hard reset to re-establish Wasps in the Midlands and draw a line under the past.'

So they seem to have decided that the West Midlands is now their home, and there is no trace of embarrassment or an apology for the damage they've done. Hard to believe really, but the clear implication is that sooner or later they are going to be sniffing around this area wanting to play in a bigger stadium again.
 
hill83

hill83

Well-Known Member
Calista said:
'But Scott insists that they can all live happily alongside each other and sees this as a hard reset to re-establish Wasps in the Midlands and draw a line under the past.'

So they seem to have decided that the West Midlands is now their home, and there is no trace of embarrassment or an apology for the damage they've done. Hard to believe really, but the clear implication is that sooner or later they are going to be sniffing around this area wanting to play in a bigger stadium again.
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I assume the second paragraph is yours?
 
Calista

Calista

Well-Known Member
The idea they were selling in 2014 was that they would bring a completely new level of rugby entertainment to the city, invest in facilities etc. They betrayed all of that and inflicted huge losses on people. Now they are openly saying in this article that they want to start again in the lower leagues, muscling in and competing directly with established clubs in the area. They are expecting people to forget the damage they’ve done and support them as a local team. I can’t see any logic in it myself, but there are hints being thrown out to suggest they have ‘partnerships’ lined up. "We have a long-term plan with a long-term partner in mind. We're working on the final terms and anything said now would be premature. But I'd say we should be able to say within weeks.”

I don’t normally deal in conspiracies, but it seems to me that someone is in the background giving them assurances - who?
 
D

Deleted member 5849

Guest
Calista said:
The idea they were selling in 2014 was that they would bring a completely new level of rugby entertainment to the city, invest in facilities etc. They betrayed all of that and inflicted huge losses on people. Now they are openly saying in this article that they want to start again in the lower leagues, muscling in and competing directly with established clubs in the area. They are expecting people to forget the damage they’ve done and support them as a local team. I can’t see any logic in it myself, but there are hints being thrown out to suggest they have ‘partnerships’ lined up. "We have a long-term plan with a long-term partner in mind. We're working on the final terms and anything said now would be premature. But I'd say we should be able to say within weeks.”

I don’t normally deal in conspiracies, but it seems to me that someone is in the background giving them assurances - who?
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I'd like to hope that their long term plan is on the same basis as SISU's long term stadium plans.
 
Sky_Blue_Dreamer

Sky_Blue_Dreamer

Well-Known Member
Calista said:
He also did not refute the notion of even one day returning to the CBS Arena, the ground they bought in December 2014, with the help of a loan from Coventry City Council.

"Who's to say we're not?" he said. "And I'm not saying we are. We've not concluded our conversations and we've not signed a contract yet."
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The council would have to be mad to even consider giving them a loan given the carnage they've caused locally not paying their debts, as well as risking funds on a company that has defaulted on payments.

Surefire vote loser.
 
Grendel

Grendel

Well-Known Member
Wasps super fans have took over the Solihull forum.

Nelly welly twat actually has reassured fans about the pitch

“we would pay for a new pitch”

Incredible
 
shmmeee

shmmeee

Well-Known Member
Sky_Blue_Dreamer said:
The council would have to be mad to even consider giving them a loan given the carnage they've caused locally not paying their debts, as well as risking funds on a company that has defaulted on payments.

Surefire vote loser.
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It’s claiming a loan in 2014 not saying there’ll be one.
 
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