Can picture the scenario now
Wasps 'We wanted CCFC to stay, CCFC walked away from the Ricoh' (whilst declining to mention that they wanted them to stay on the basis that the rent is jacked up 10x and we no longer get a share of match day revenues)
Then everyone goes crazy and blames Fisher
Under these circumstances we would really be homeless so unlike last time when we wasn't I wouldn't have any qualms about going. Just the opposite. I'd see it as my duty.
Northampton is too far out though. For most fans it's impractical - also who can really rely on fisher selling the dream?
Hinckley is probably the only (slightly) viable alternative and the club should try and go now.
I'm not kidding myself or anyone, Fisher is a clown. Just making the point that in the hypothetical scenario a lot would blame SISU/Fisher for it whilst singing Wasps praises.Although I've already said I would attend sixfields and I would under these circumstances. Let's not try and kid ourselves that he hasn't played his part in steering us to the position we currently find ourselves in. Any blame he gets he's earned.
Not necessarily a question to OSB but could this be a backdrop for a hostile takeover of CCFC? What would SISU's other options be? Build anew? Keep funding losses back at Sixfields while try to work out A) WTF just happened and B) WTF do we do now?
That would also be the end
Can't see it Tony. I think we have to take them at face value when they say they're not interested in buying the football club. I keep saying this, but it makes no financial sense especially give the fact they have no money.
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Can't see it Tony. I think we have to take them at face value when they say they're not interested in buying the football club. I keep saying this, but it makes no financial sense especially give the fact they have no money.
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Nortern as from saturday gone where will they get the money to keep the club going till August,if people are telling the truth which I dont doubt ST sales will go through the floor so they wont be able to rely on that cash:thinking about::facepalm:
Wasps raise £35 million from sale of bonds
Buy out SISU with said money
We get back to back promotions to the premier league
Everyone gets paid back using Sky and BT money
Everyone rolls around in cash
Sounds like an action plan to me.
Easy mate, we will storm back to the premier league.Just need to start winning.....
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No it shouldn't be. The club could still eventually recover. The history around wasps has spiv written all over them. Also rugby is a fringe sport and like cricket will enjoy financial highs but have troughs as well. The club could long term still get through if the will was there.
6.5% with no security against a company who have very nearly gone to the wall once, and are currently reliant on the whim of an individual owner to survive, isn't high enough for me.
I note the original page is down at the moment - http://www.wasps.co.uk/the-club/bonds - insert own conspiracy theory here, but if I was from the council I wouldn't have been overly happy with the initial claim on that page that the bond was secured against the Ricoh Arena. That's not really true.
Edit: They've moved the page now - http://www.wasps.co.uk/bonds/secured-bonds - not sure if the wording has changed, it still implies the Ricoh Arena is being used as security to me though. A bit naughty, imho, but the detail is in the small print elsewhere no doubt.
Wasps raise £35 million from sale of bonds
Buy out SISU with said money
We get back to back promotions to the premier league
Everyone gets paid back using Sky and BT money
Everyone rolls around in cash
Sounds like an action plan to me.
Maddison.
And next to no players on the books.
Plus we were cash flow positive for one halcyon month
They've already spent the Maddison money.
There is of course the real worry they could use this to get the club.
A separate CCfc owned subsidiary with £1.3 million rent pumped in to a loss making forever division one club may fit the plan perfectly....
So you're the accountant... or just guessing as you go along?
Joke
Sorry.... should have spotted it.
Its alright everybody is a bit touchy.
u wot m8?
There is of course the real worry they could use this to get the club.
A separate CCfc owned subsidiary with £1.3 million rent pumped in to a loss making forever division one club may fit the plan perfectly....
Would they even be able to do that legally? They're not selling the bonds under the premise of using the funds to buy a football club.
You don't need a premise just investors. All looks odd as I cannot believe they don't have the funds to meet loan repayments agreed less than 6 months ago.
Come on it involves the Ricoh and us it would be odd if it wasn't odd.
That is indeed true!
You do wonder what's going on though. Why adjust the repayment terms to CCC at all if it's all being repayed in a completely different way, anyway?
Actually, I can come up with the odd cynical conspiracy theory about whybut then I'd have Tony banging on about tinfoil hats and SISU RAWRRR...
That is indeed true!
You do wonder what's going on though. Why adjust the repayment terms to CCC at all if it's all being repayed in a completely different way, anyway?
Actually, I can come up with the odd cynical conspiracy theory about whybut then I'd have Tony banging on about tinfoil hats and SISU RAWRRR...
Or lose nothing and keep all of my £2000 nothing is sure in life.
I'm surprised that Richardson isn't leaving his £10 million in the bond scheme to be honest, £650,000 a year for 7 years and his £10 mil safe as houses with the richest rugby club in the World.
Would give other investors confidence that he was putting his money where his mouth is, rather than appearing to take his money away from where his mouth is.
Except your money will be eaten at by inflation if under the mattress, the amount you can buy with it will diminish.
Except your money will be eaten at by inflation if under the mattress, the amount you can buy with it will diminish.
I think it went something like this:
Wasps: We want the Ricoh
CCC: OK.
Wasps: Great, thanks.
CCC: Wait a minute, you're nothing to do with SISU, are you?
Wasps: Who? Er, no. Do you want to see proof of our financial health, etc
CCC: Nah.
Wasps: Great, thanks.
CCC: You sure you're nothing to do with SISU?
Wasps. No, honestly.
CCC: Fine. 250 years OK? Nice doing business with you.
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