letsallsingtogether
Well-Known Member
Well I went to a meeting chaired by Joy at Crist the king, and she said she"I never knew what the rent was until Ray Ranson asked for more money"
Who I thought he was a liar toono, it's not. Geoffrey Robinson also recounted the incident.
Well I went to a meeting chaired by Joy at Crist the king, and she said she"I never knew what the rent was until Ray Ranson asked for more money"
or he uses Google....
Virtually everyone agrees the rent was unsustainable and ACL refused to negotiate so what was the better way forward? Keep paying for the next 50 years until it was time for a new agreement?
Even when the lease was broken the long term damage to the club should have been minimal. As is repeatedly pointed out the long term damage was caused when the council sold to Wasps. That's the point at which things became irreversible.
I'm not "getting at" anything; isn't my post clear enough? The "cunning plan" remark was made tongue-in-cheek. SISU are clueless.I don’t know what you are getting at? So they should have just gone into admin much quicker?
The plan was far from cunning. They should have stopped paying on day one and bought the whole house of cards down.
That's what G suggested they should have done.They didn't rip it up immediately. They should have but as you alluded to, there useless.
That's what G suggested they should have done.
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If you're not going to bother actually reading my posts, then this is a pointless exercise.No, you said they entered into an agreement with the intention of ripping it up immediately. They didn't rip anything up immediately.
Offers of 100's of free tickets at my missus place yesterday.Interested to hear what there gate is today.
Notice after a lot of promotion at JLR regarding Wasps it’s all stopped now.
Seen lots of freebies being offered on Facebook as well.Offers of 100's of free tickets at my missus place yesterday
Did anyone find the attendances for Wasps and there downward trend?
Just seen the attendance for the Wasps v Newcastle game:
3,740 - That is pretty pathetic for a GP match - albeit neither team has a lot to play for this season.
really surprised at that. Knew their attendances had dropped but I didn't realise it was quite so dramatic.
Edit: further down the thread in the link it says it's actually just under 10,000.
they're on about a match from 2009 aren't they?really surprised at that. Knew their attendances had dropped but I didn't realise it was quite so dramatic.
Edit: further down the thread in the link it says it's actually just under 10,000.
they're on about a match from 2009 aren't they?
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If that’s true then a lot of free tickets were fished out across Coventry and Warwickshire. Love to know the real attendance of paying customers.Think you're right!!
Just over 16,000 yesterday.
Well they've spent big on signing Brad Shields today & supposedly have a world class 10 incoming.
Unfortunately they don't seem to be going anywhere anytime soon!
Yes they be going anywhere soon. They may be in trouble financially but they can just refinance the bond scheme. Take a bit longer to pay it back.
The quicker they go the better but it won’t be quick enough.
A bit longer than what?Yes they be going anywhere soon. They may be in trouble financially but they can just refinance the bond scheme. Take a bit longer to pay it back.
The quicker they go the better but it won’t be quick enough.
A bit longer than what?
After paying nearly 3m a year in interest payments they will still owe the same amount. They will only be better off by the difference of inflation. The years of having loans and mortgages paid for by high inflation are long gone. And if inflation goes up so will any new bond offering. And they are not making enough to keep up with it now.
Ah what a shame :emoji_middle_finger:
I think the thing about refinancing, is that next time they're going to have to pay even more interest to draw people in. That's a combination of rates slowly rising, and increased risk. That has to be a drain on profit, and I don't think it can go on forever...
Read OSB's posts in Wasps sub forum, he identifies alternative sources of refinancing they could use.
Wasps current finances & hope
Yep, and like most of OSB's stuff it's very well thought out. I've replied over there rather than dragging it out on here. Basically though, my thoughts are that whichever way you stack it, you can't keep rolling over debt forever, and for all of the hoopla I don't think Wasps finances are as solid as they might be.
Sooner or later (and much as it pains me to agree with Mr Fisher on this), you've got to pay your way and become self-sustaining. I don't think you can do that by continual refinancing or reliance on a sugar daddy investor - imho.
But the whole point of him moving them to Coventry was he was fed up of bailing them out.Why not? Especially if the real value of that debt constantly falls. Anyway
I said it years ago and OSB said it in his thread, Richardson will bail them out rather than see his investment collapse if push comes to shove, he did it before.
Why not? Especially if the real value of that debt constantly falls. Anyway
I said it years ago and OSB said it in his thread, Richardson will bail them out rather than see his investment collapse if push comes to shove, he did it before.
Maybe, but I don't think he'll jump ship unless he can find another mug to take over.But the whole point of him moving them to Coventry was he was fed up of bailing them out.
He'd do it if he could see a path to that helping them become sustainable I'm sure, but am extremely doubtful he'd do it without question.
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