Wasps downward spiral... (65 Viewers)

oldfiver

Well-Known Member
Some key council members aren’t that enthused anymore - I believe Duggins is though - but Jon Mutton is the thinking mans Duggins - the councillors are so stupid how do any of these people get elected.

Jane Innis is a hoot

The problem is Martin Reeves - too much power
 

chiefdave

Well-Known Member
Is it not out of their hands now anyway?
The WMCA grant application technically is but given Reeves was Chief Exec for the WMCA its not a huge leap to think he still has contacts and potentially influence there.

Wasn't there also a meeting of the council after the news of the grant broke where assisting Wasps was mentioned so just because Reeves pushed Wasps to WMCA doesn't necessarily mean that is the end of the councils involvement.
 

Brighton Sky Blue

Well-Known Member
The WMCA grant application technically is but given Reeves was Chief Exec for the WMCA its not a huge leap to think he still has contacts and potentially influence there.

Wasn't there also a meeting of the council after the news of the grant broke where assisting Wasps was mentioned so just because Reeves pushed Wasps to WMCA doesn't necessarily mean that is the end of the councils involvement.

Is Street the final decision maker?
 

Nick

Administrator
Andy Street, you say?

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Moff

Well-Known Member
He loaned the whole £10 million back didn’t he?

Im not sure he did.
Have you details of this? I thought part of the bond payments was to pay him back his loan to the club, and not for him to give it straight back.
 

Liquid Gold

Well-Known Member
Im not sure he did.
Have you details of this? I thought part of the bond payments was to pay him back his loan to the club, and not for him to give it straight back.
I think he’s loaned It back into the club over the subsequent years.

One of their issues is that he isn’t infinitely wealthy and knows he’ll bankrupt himself if this path continues.
 

oldfiver

Well-Known Member
Im not sure he did.
Have you details of this? I thought part of the bond payments was to pay him back his loan to the club, and not for him to give it straight back.

At last June was about back to where he was.

He was repaid £10m but it has been re-lent
 

Moff

Well-Known Member
At last June was about back to where he was.

He was repaid £10m but it has been re-lent

Yes looking at reports he got repaid his £10 million but has loaned them much more.
They seriously are a complete basket case, without his money they would have been screwed long ago.
 

chiefdave

Well-Known Member
You've got to assume if he took £10m out of the bond he wanted his money back, his plan wouldn't have been to put it back in. Suspect its similar to the situation we have with SISU where he only puts money in as a last resort as not doing it would run the risk of wiping out his entire investment.

There was media reports that he was getting close to what he could afford to put in to the club a while back as well, which certainly ties in with using the bond to pay himself back. Why else would you saddle the club with an extra £10m debt amongst all the uncertainty of a move.

The question I've always had is what happens when he goes? We're not in a financial climate where there will be a queue of people to take over and given they've only been here a few year they will struggle to even find a Hoffman type figure locally.
 
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Grendel

Well-Known Member
You've got to assume if he took £10m out of the bond he wanted his money back, his plan wouldn't have been to put it back in. Suspect its similar to the situation we have with SISU where he only puts money in as a last resort as not doing it would run the risk of wiping out his entire investment.

There was media reports that he was getting close to what he could afford to put in to the club a while back as well, which certainly ties in with using the bond to pay himself back. Why else would you saddle the club with an extra £10m debt amongst all the uncertainty of a move.

The question I've always had is what happens when he goes? We're not in a financial climate where there will be a queue of people to take over and given they've only been here a few year they will struggle to even find a Hoffman type figure locally.

I assume most of the loans are through his investment company in Malta surely?
 

Grendel

Well-Known Member
They're agreeing to fund the station redevelopment aren't they, rather than granting Villa some cash?

on his website he also says working with Villa to help extend the stadium to 50,000
 

Grendel

Well-Known Member
I think he will be keen to help Villa

 

fernandopartridge

Well-Known Member
Aston Villa seem to have had a grant for development in process with Andy street


Yeah though tbf Witton Station is public infrastructure not for the exclusive use of Aston Villa, and upgrading it will align with a lot of the WMCA objectives. It remains to be seen whatever Wasps are proposing for the £13m.
 
D

Deleted member 5849

Guest
on his website he also says working with Villa to help extend the stadium to 50,000
That's a play on words though. They are, as it'd need more capacity to cope with extra fans. Extra train tickets = extra revenue to pay it back, and the mon ey isn't actually going to Villa to do it.

Now, if Wasps were to apply to demolish the station at the Arena, to cope with the decline in their fanbase, they might have some success...
 

Grendel

Well-Known Member
That's a play on words though. They are, as it'd need more capacity to cope with extra fans. Extra train tickets = extra revenue to pay it back, and the mon ey isn't actually going to Villa to do it.

Now, if Wasps were to apply to demolish the station at the Arena, to cope with the decline in their fanbase, they might have some success...

Wasps will argue it’s to improve infrastructure and would have to be spent anyway
 

Grendel

Well-Known Member
Yeah no doubt in my mind they’ll get the money which is why wasps aren’t making statements or too worried

The fact they won’t make a comment Bon why they have applied is odd

Street is very public about things he’s involved in so people should ask him
 

chiefdave

Well-Known Member
Wasps will argue it’s to improve infrastructure and would have to be spent anyway
If there was a genuine infrastructure need would there be so much secrecy? We all know they have friends in the local media, even if they couldn't release it official we'd have an article from Bridge saying 'sources tell me'.
 

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