Terry Gibson's perm
Well-Known Member
Must be more difficult to find somebody to pay for it than they thought
The reason it's been delayed is simple. Wasps financial situation is making them re think there strategies moving forward. They simply do not have £7m to plough into another piece of real estate when they are financially on the brink of snapping following the purchase of the Ricoh arena. The priority is to attempt to pay back the bonds and believe me that will not happen!Shows how far we've fallen that our academy is at some shithole that even a rugby club don't want. Joke club etc etc etc
Great news, academy is one of the only shining lights of this club and something we should be proud of.
Good.The reason it's been delayed is simple. Wasps financial situation is making them re think there strategies moving forward. They simply do not have £7m to plough into another piece of real estate when they are financially on the brink of snapping following the purchase of the Ricoh arena. The priority is to attempt to pay back the bonds and believe me that will not happen!
I seeing Wasps heading for financial ruin in the next couple of years.
How much of the cost of the rugby facilities will get moved over to the pool that CCC are paying for? The plans for that already had rugby facilities in it, a bit unusual for a swimming pool.Must be more difficult to find somebody to pay for it than they thought
Owning it might be great, it's just paying for it in the first place that has fucked everybody up.Good.
So owning the Ricoh is not the cash cow some make it out to be.
If, and its still a big if, they are in trouble then rather annoyingly it will prove Fisher correct when he's kept banging on about the loan being the issue.So owning the Ricoh is not the cash cow some make it out to be.
Its never made sense to me not to stay where they are now sharing with Broad Street. There's as much land as they need there and there seems to be no sense in building one set of facilities and then moving a couple of years later. Rugby Council have already said they'd be supportive of that.Must be more difficult to find somebody to pay for it than they thought
They took on a lot more debt than they needed to. 10m went to their chairman from what he was owed as well as millions more to make the first few payments. Didn't look healthy from the start. So not only do they have to make the high interest payments but they will still have to find the money raised against the arena.If, and its still a big if, they are in trouble then rather annoyingly it will prove Fisher correct when he's kept banging on about the loan being the issue.
ACL under CCC / Higgs ownership had to be bailed out by CCC when Yorkshire Bank got twitchy about the loan being repaid. If Wasps fail then it will be largely down to the huge amount of debt they took on.
Yes, and the price the charity and council wanted the club to pay was excessiveGood.
So owning the Ricoh is not the cash cow some make it out to be.
Academy Manager Richard Stevens said: “This is significant news for us, I am delighted to have secured another season at the Alan Higgs centre and would like to thank Paul for all his help and support.
The centre has been our base for over 10 years and we have excellent relationships with everyone there. I would also like to thank the parents, players and staff for trusting us throughout a testing period of time. We have been through the Category 2 Audit and have had some excellent feedback, we will be able to further update on this over the coming weeks.
“Whilst talks are still ongoing for a long-term solution, this gives us the best option to meet the requirements and maintain our Category Two status as an Academy.”
Paul Breed, Chief Executive of Coventry Sports Foundation commented:“We are delighted to be able to extend the relationship with the Coventry’s highly successful Football Academy, whilst we continue to explore the longer-term solutions.
“It is testament to the hard work of Richard and his team that they have, once again, received such a positive audit report from the Football Association”.
I knew we were staying st Higgs weeks ago, apart from everything else there's a big doubt if the Wasps/Higgs project will happen for a long time, if ever.
The fact they're all the same length actually worries me. I'd be more reassured if some were 3 year etc.
Suggests to me we have two years to try... whatever.
We shall see, I guess!
I agree Stevens appears very influential re the Acadamy behind the scenes it's almost run totally separate from the main football club, just hope this new c.e.o doesn't interfere like Waggott constantly did.If you are down there a lot do you get the impression that when letting people like Richard Stevens deal with it then things work better than Fisher sticking his beak in?
I agree Stevens appears very influential re the Acadamy behind the scenes it's almost run totally separate from the main football club, just hope this new c.e.o doesn't interfere like Waggott constantly did.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?