Sick Boy
Super Moderator
I'd rather have our owners than some who moved a club permanently away from its home, thanks.
Before we all go getting carried away and think that Wasps will be gone soon, maybe we should remember who owns us and how their finances and management are so much better?
The CT finally featured an article. All the highlighted figures are on a downward trend.
Wasps' accounts reveal uncertain future as losses double
Probably those cracks they found that were nothing to worry aboutI notice that maintenance costs went up by 60% to over £1m.
And sponsorship is down.I notice that maintenance costs went up by 60% to over £1m.
Surely if true, did they not go for costs when SISU lost?Lol
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They'll get costs eventually but I believe generally the award is less than the expenditure to defend the case.Surely if true, did they not go for costs when SISU lost?
What positives are there for wasps?Even the CET and Giblet aren't trying to put a positive spin on these accounts. Things must be bad.
Good lets hope they go or at least sell half to the City.
Problem is can they make a profitt there are things on most days?
Funny how they just spent 100000 on a scoreboard when the old one was adequate.
Tim said it would be easy to make a profitt if run right.At the moment though, why would CCFC want to buy half? Let's say Wasps offer 50% to CCFC for £10m. What benefit is there?
The issue is the massive debt we would be buying half of.Tim said it would be easy to make a profitt if run right.
We would then have a say when we play. we would have a home rather then become romanies ourselves like wasps.
At the moment though, why would CCFC want to buy half? Let's say Wasps offer 50% to CCFC for £10m. What benefit is there?
I didn't get the need for the scoreboard given the financial concerns, bizarre one..Good lets hope they go or at least sell half to the City.
Problem is can they make a profitt there are things on most days?
Funny how they just spent 100000 on a scoreboard when the old one was adequate.
it gives us a future Nick! We are present are paying £100k rent which is clearly going to sharply increase given the courtroom antics. Money well spend and obviously gives SISU some valuable collateral if they decide to sell up... foothold to bigger things in my opinion.The issue is the massive debt we would be buying half of.
I didn't get the need for the scoreboard given the financial concerns, bizarre one..
For us long term? Massive surely? We would have access to more revenues which means more money for the first team, able to run more non-match day events. It shows to fans a long-term future for the club- possibly increasing attendances. If Wasps then do go bust or leave afterwards, we are in the prime position to acquire 100%...
Would it though as things stand? Don't get me wrong it isn't the owning half of the Ricoh that is the worry, it's the financial situation of ACL and the repayment of the bondholders. You own half of that, you own half the responsibility to pay the bondholders back.
Surely if we own half of their debt then them going bust would be even more of a worry?
Very good point, hadn't thought of that...
That's the main worry. If "they" are struggling to pay the bondholders back, it then becomes a "we" are struggling to pay the bondholders back. There are probably ways with company structures to get around it but are Wasps then going to sell us half to give us the benefits without taking on the negatives? It would probably take a lot of money.
Yep agree, if we could negotiate the deal sop it was Wasps problem to pay back debts, then it wouldn't be an issue but doubt they are feeling that charitable.
The stadium / arena should be capable of making a profit but the big issue is the huge debt that needs to be serviced. ACL nearly went under with £14m debt, Wasps have come in and doubled the debt to allow the owner to pay himself back.Tim said it would be easy to make a profitt if run right.
Assume its been done on the same basis that the supplier has used with other clubs. They provide the screen and maintenance free of charge but they get the money generated from the advertising on it.I didn't get the need for the scoreboard given the financial concerns, bizarre one..
Agree, surely the only 'real' market value for this is the actual price paid... which wasn't this SISU's argument at court??I find it suspicious that they’ve managed to value the Ricoh at £60. It means to buy in to half at that rate would pay off the bond. I suspect that’s what they’re looking for.
I find it suspicious that they’ve managed to value the Ricoh at £60. It means to buy in to half at that rate would pay off the bond. I suspect that’s what they’re looking for.
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