Wasps downward spiral... (75 Viewers)

[fernandopartridge]

Something has probably come up in the due diligence carried out so far - like the need for repairs to the principal asset.

But until the repairs are enacted would you actually accept the security?

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[CCFC54321]

This is fucking brilliant on here tonight…

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[chiefdave]

The bit about the trustee not even being informed of the extension let alone agreeing to it doesn't sound good

 

[Hiraeth]

Is it clear ? What makes you say that ? ….. perhaps nobody will confirm it because it’s not correct. Although im sure everyone will say im wrong

Interesting question. I won't say that you are necessarily wrong.

Do you think the underlying financial performance of the business (es) is a more likely reason for hesitancy to lend or for the due diligence to take longer in this instance?

 

[Dubai-Dodger]

Yeah, the rest of it is losing money too.

Yep …. Doesnt take a genius to work that one out and state the obvious.

 

[Dubai-Dodger]

Only one other Rugby Club makes a profit from the pure Rugby side - but they may not manage that this year

absolutely !

 

[Dubai-Dodger]

Interesting question. I won't say that you are necessarily wrong.

Do you think the underlying financial performance of the business (es) is a more likely reason for hesitancy to lend or for the due diligence to take longer in this instance?

The underlying financial performance (or lack of) is no secret and hasn’t been so anything around that in isolation shouldn’t cause sudden hesitancy at the last minute as it would be known about from the start, although I suppose it all depends on timing though as to when the refinancing process actually started.

 

[Dubai-Dodger]

what makes WASPS so special?

I don’t think I’ve ever said they are special ? as to why they have applied for funding, again I don’t know any more than you.

 

[Dubai-Dodger]

Remember when the media said a few wasps players were leaving. Wasps fans said it was all made up because they were jealous.

They left.

which occasion was that ? There’s speculation most of the year in the press about players moving ….. players move around clubs all the time. Is that the mystery Wasps fans who you know that you sometimes speak about ?

 

[Dubai-Dodger]

fuck all. As far as I can make out the only venues that have had money are the CBS, the athletics stadium which has essentially been rebuilt, and a new aquatics centre. There's a clear legacy with the last two, not sure how putting a new front on the CBS will benefit taxpayers.

Ultimately host cities / areas get a very good return from hosting the games. I’m not suggesting that’s directly related to CBS but the games are certainly a good investment for host cities.

 

[Flying Fokker]

The problem is the attendance alone isn’t just the answer as you are aware the rugby is Just a part of a complicated business, so it somewhat depends how the whole business performs. But if you take the attendances alone the way to improve that is to play more constantly, win games and level of support will rise much like many sports.

Wasps RFC is not welcome in Coventry. Good luck with the dream…

 

[Nick]

which occasion was that ? There’s speculation most of the year in the press about players moving ….. players move around clubs all the time. Is that the mystery Wasps fans who you know that you sometimes speak about ?

Surely you remember? I think the fella who is from cov who played for them also piped up saying it was nonsense.

 

[Dubai-Dodger]

Surely you remember? I think the fella who is from cov who played for them also piped up saying it was nonsense.

why would I remember ? …. I pay no attention to transfer rumours … much like other rumours …. I just wait for the club or player to announce it.

 

[oldfiver]

I don’t think I’ve ever said they are special ? as to why they have applied for funding, again I don’t know any more than you.

I didn't say you thought they were special. The thing is THEY think they are special and to some in CCC that is the case

 

[Dubai-Dodger]

I didn't say you thought they were special. The thing is THEY think they are special and to some in CCC that is the case

perhaps they do feel they are special or perhaps they are a business applying for funding in a frame work or mechanism that makes that possible. I’m not saying it’s right or wrong, but you have to ask yourself if the framework for funding is there why wouldn’t a business make an application? We have no idea who else has taken advantage of any funding (certainly I don’t), has anyone else locally been denied funding because of Wasps ? Many on here cry out that nobody else is treated in the same way but have those other businesses been pushed aside for funding because of Wasps ? I certainly don’t know and it would interesting to know. As of today they haven’t received funding that we know of …. Unless of course anyone knows otherwise ?

 

[oldfiver]

perhaps they do feel they are special or perhaps they are a business applying for funding in a frame work or mechanism that makes that possible. I’m not saying it’s right or wrong, but you have to ask yourself if the framework for funding is there why wouldn’t a business make an application? We have no idea who else has taken advantage of any funding (certainly I don’t), has anyone else locally been denied funding because of Wasps ? Many on here cry out that nobody else is treated in the same way but have those other businesses been pushed aside for funding because of Wasps ? I certainly don’t know and it would interesting to know. As of today they haven’t received funding that we know of …. Unless of course anyone knows otherwise ?

You are getting like Mr G I did not say anyone was being pushed aside because of or for the benefit of WASPs. What I questioned was why they feel they should be treated as a special case when they openly break financial regulations and agreements and particularly the Bonds and the Terms of the original Arena agreement

 

[Nick]

why would I remember ? …. I pay no attention to transfer rumours … much like other rumours …. I just wait for the club or player to announce it.

Like I said, it's just fingers in ears and no point in trying to explain anything because you just give it the dumb act.

Yet here you are, obsessively replying to every post about "rumours".

 

[skybluesam66]

the big issue is Dubai thinks a successful team will bring back the crowds

1. Rugby is not like football
2. The bubble has burst
3. Wasps are a london team, and can never re-create the initial fan-fare
4. The re-emergence of ccfc into the championship has left many of those realising a great day out is not just a few fireworks and flags

tick tock

 

[HuckerbyDublinWhelan]

perhaps they do feel they are special or perhaps they are a business applying for funding in a frame work or mechanism that makes that possible. I’m not saying it’s right or wrong, but you have to ask yourself if the framework for funding is there why wouldn’t a business make an application? We have no idea who else has taken advantage of any funding (certainly I don’t), has anyone else locally been denied funding because of Wasps ? Many on here cry out that nobody else is treated in the same way but have those other businesses been pushed aside for funding because of Wasps ? I certainly don’t know and it would interesting to know. As of today they haven’t received funding that we know of …. Unless of course anyone knows otherwise ?

Treated differently? We were initially told we had to pay a high rent because if we didn’t pay a high rent (for just using the Ricoh for 23 days, not earn from it) then it would be seen as state aid.

the council have literally gone out of their way to try to get funding from the tax payer.

 

[Dubai-Dodger]

You are getting like Mr G I did not say anyone was being pushed aside because of or for the benefit of WASPs. What I questioned was why they feel they should be treated as a special case when they openly break financial regulations and agreements and particularly the Bonds and the Terms of the original Arena agreement

Have they asked for special treatment or to be treated as a special case ?

I accept you didn’t say others have been pushed aside …. But many here infer that other businesses wouldn’t get funding.

I’ve made no bones about the fact that the delayed bond repayment is wrong and likewise any other financial regulations that are broken is wrong.

 

[Dubai-Dodger]

the big issue is Dubai thinks a successful team will bring back the crowds

1. Rugby is not like football
2. The bubble has burst
3. Wasps are a london team, and can never re-create the initial fan-fare
4. The re-emergence of ccfc into the championship has left many of those realising a great day out is not just a few fireworks and flags

tick tock

History shows you that in any sport attendance goes up and down with success, nobody is drawing a comparison with football in fact I’ve gone out of my way to correct those that draw that comparison.

 

[wingy]

Have they asked for special treatment or to be treated as a special case ?

I accept you didn’t say others have been pushed aside …. But many here infer that other businesses wouldn’t get funding.

I’ve made no bones about the fact that the delayed bond repayment is wrong and likewise any other financial regulations that are broken is wrong.

Cretin
FO.

 

[Nick]

Have they asked for special treatment or to be treated as a special case ?

Well erm, yes plenty of times.

Just go back through the history since "they" have been here.

Yet again, it's fingers in ears "I didn't know" type nonsense.

 

[Moff]

Like I said, it's just fingers in ears and no point in trying to explain anything because you just give it the dumb act.

Yet here you are, obsessively replying to every post about "rumours".

The ironic thing is how he dismisses all the rumours as untrue without any actual facts to back up his argument with.

 

[Moff]

History shows you that in any sport attendance goes up and down with success, nobody is drawing a comparison with football in fact I’ve gone out of my way to correct those that draw that comparison.

Look you can gloss over things with the big days out some clubs have at Twickenham for league games etc, but Rugby is facing its biggest crisis since turning professional, with cash flows being particularly restricted.

Couple this with a club who gambled their hand by going big, and the bubble now having burst, I would say your team are heading for the perfect storm.

And before you decry this, if you check my posting history I have predicted this outcome for a while. I support a well run, well supported team who have had to cut their cloth accordingly, I’m sure many Saints fans like myself won’t be shedding many tears at your woes.

 

[Grendel]

Have another guess

On drunken drivel you are ukms

 

[oldfiver]

Have they asked for special treatment or to be treated as a special case ?

I accept you didn’t say others have been pushed aside …. But many here infer that other businesses wouldn’t get funding.

I’ve made no bones about the fact that the delayed bond repayment is wrong and likewise any other financial regulations that are broken is wrong.

They don't have to infer as many of us know of refusals for applications more worthy than the WASPs.

Perhaps they should ask Stratford DC to help our the ailing business, as they are operating there?

 

[Nick]

 

[Gynnsthetonic]

 

[Liquid Gold]

I don’t know why anybody is engaging with the insect fucker.

Clearly doesn’t have even the slightest clue about anything that has happened in the last 8 years.

Just here to say “I don’t know, it’s all speculation” over and over again like it’s some great insight and we haven’t been able to work out what has been going on time and again on here.

They could be doing it on their own forum but that, much like the arena, is kept going by city fans.

 

[oldfiver]

The CT could run two articles

One good reason why WASPS should be bailed out

One hundred and one why they shouldn't?

 

[Liquid Gold]

I say bail them out but with the condition of if they go pop then the councillors who agree to it have to pay the money back or do a 10 stretch.

They’ll go bust eventually anyway so let’s get the corrupt pricks taken down with them.

 

[fernandopartridge]

You are getting like Mr G I did not say anyone was being pushed aside because of or for the benefit of WASPs. What I questioned was why they feel they should be treated as a special case when they openly break financial regulations and agreements and particularly the Bonds and the Terms of the original Arena agreement

Indeed, their credit worthiness was bad before they twice defaulted on the bond. If they are in receipt of any public money I'm guessing all sound public financing principles have been chucked out of the window.

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[Dubai-Dodger]

On drunken drivel you are ukms

Try again

 

[Dubai-Dodger]

They don't have to infer as many of us know of refusals for applications more worthy than the WASPs.

what businesses have been refused funding by WMCA ? … genuinely interested to know.