Wasps downward spiral... (38 Viewers)

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Kneeza

Kneeza

Well-Known Member
Nick said:
It's exhall by the car dealership and where black horse used to be.
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Is it related to the car place that used to be in Cov many years ago? Up by Priestley's Bridge was it?
Whatever. Like their style.
 
Mucca Mad Boys

Mucca Mad Boys

Well-Known Member
Deleted member 5849 said:
Yeah as long as they get interest paid, it's worth sucking it up and being held over a barrell as still, effectively, you're getting a better return than you'd ever get elsewhere.

Of course the other way it could go wrong is if savings interest rates go up substantially.Then the 6.5% isn't so appealing if based on a savagely insecure investment.
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At 6.5%, the interest is tracking below inflation which wasn’t the case until this year. It’s a tough spot for those investors.
 
Colin Steins Smile

Colin Steins Smile

Well-Known Member
chiefdave said:
is it 75% approval of those who vote or 75% of the total bondholders as that would make a significant difference.

From looking at that board a lot of people who use companies such as interactive investor won't even know this is happening so won't vote at all. Unless of course those companies can vote on the bondholders behalf without instruction but that seems unlikely.

So if you then assume a large percentage won't be aware or just won't vote then getting 25% who don't approve seems far more likely.
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My understanding is that it's 75% of value of the bondholders, so the large investors will sway any decision.

The assessment they have to make is whether to hope that the financial performance of Wasps Holdings improves significantly.....which from previous submitted audited accounts there is no evidence or try to recoup as much money as possible now from an administration process. The asset to be realised being the stadium.

However, the value of the stadium could be diminishing in the next few years due to the amount of maintenance and repairs required. If I was a bondholder I would be seeking to recoup what ever I could now.
 
Skybluemichael

Skybluemichael

Well-Known Member
igfish1: Roger156 - I manage the Facebook group and I haven't seen a request from you. Let me know if you have a problem. I started the group for exactly this reason, so as to be in contact with as many bondholders as possible. I do not agree with engaging a lawyer at this point as they would just want a cut of any money we could realise and the Trustee will take their cut anyway. I cannot see what a lawyer could add anyway, I have waded through pages of legal documentation and I suspect so has fastcat. The security deed for the arena and all other collateral is in favour of the Trustee on our behalf. They can seize the assets immediately. If the bondholders want to take this course of action we need a quorum (group) of 10% for a meeting, 25% for a request to enforce the security and 75% to force the Trustee to act. I'm pretty sure we have enough to request a bondholder meeting but we need to think about what we would actually say. The problem is how to reach more bondholders. The BBC journalist might be prepared to put contact details for a group in an article i'm thinking.
 
MalcSB

MalcSB

Well-Known Member
skybluetony176 said:
No news? I thought today was another D Day for a bond announcement?
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Consent solicitation supposed to be issued in August, so two working days left. One bondholders has expressed a personal opinion that nothing will come out. That will seriously piss them off.
 
Liquid Gold

Liquid Gold

Well-Known Member
Rumours that they are avoiding administration until after the season starts because the RFU can't relegate them after the season starts.
 
MacReady

MacReady

Well-Known Member
I have a confession. I feel slightly guilty about this but… I check this thread a few times a day in the hopes that Wasps have gone away. I lose at least 14 seconds of sleep a week due to the guilt. Not sure why I posted this. Waiting to pick my niece up from work and I’m really bored.
 
torchomatic

torchomatic

Well-Known Member
Brighton Sky Blue said:
That’s funny as I swear my account on there just isn’t allowed to post. Have tried on a few browsers and it doesn’t work-just refreshes the page
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I've posted stuff quite recently and every post was taken down. Some of it sarcastic, but a few quite serious. Ever post gone.
 
MalcSB

MalcSB

Well-Known Member
The SBT in forgiving mood thread was closed, stuff still seems to be being posted on the business thread so that’s still open.
 
Liquid Gold

Liquid Gold

Well-Known Member
The second funniest thing behind Wasps going bust would be all the people that bankrolled their franchising losing all their money.
 
W

wingy

Well-Known Member
Liquid Gold said:
The second funniest thing behind Wasps going bust would be all the people that bankrolled their franchising losing all their money.
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Well it looks to be with what appears to be quite a manipulation happening they will be the only one's likely to be able to bring them down

Bar the fact that it seems extremely difficult to organise themselves.
 
shepardo01

shepardo01

Well-Known Member
Gynnsthetonic said:
Where has the £35m actually gone though, that's a hell of a lot of money
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Some to pay back the 14m loan the Council gave them to buy the stadium. But it seems it actually didn't (read somewhere recently) and it has just fallen into the black hole of plugging holes/losses.
Apparently their owner paid himself some back for some money he put in too ..
 
MalcSB

MalcSB

Well-Known Member
Liquid Gold said:
The second funniest thing behind Wasps going bust would be all the people that bankrolled their franchising losing all their money.
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From bondholders forum

Same as 1bolivar, I have been following the board for months but did not have much to contribute. I hold quite a substantial amount (though not as much as Ozzie) so I registered with the trustees and re-joined FB to be able to stay in touch with the group. Like everyone else, I knew the risk of the bond when I bought it at launch but it was nothing as risky as mini bonds. It was a regulated and listed bond with a stadium as a collateral. Unlike many savvy investors on this board I invested all my holding at par which means that I am probably set out to lose the most. Greed did not come into play here. This was redundancy money I invested for my children, being a single mum of 3.
 
MusicDating

MusicDating

Euro 2016 Prediction League Champion!!
shepardo01 said:
Some to pay back the 14m loan the Council gave them to buy the stadium. But it seems it actually didn't (read somewhere recently) and it has just fallen into the black hole of plugging holes/losses.
Apparently their owner paid himself some back for some money he put in too ..
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This is what annoys me about the revisionists on their forum. They bleat about the council bailing us out on the building of the Ricoh, when they haven't put a penny towards their purchase of the ground. The bond holders paid for it!

And while I'm on, where's the CVC money gone, eh? As much as they say lovely old rugby man Richardson loves Wasps, I bet the only person who doesn't lose out on all this is himself...
 
Gynnsthetonic

Gynnsthetonic

Well-Known Member
MusicDating said:
This is what annoys me about the revisionists on their forum. They bleat about the council bailing us out on the building of the Ricoh, when they haven't put a penny towards their purchase of the ground. The bond holders paid for it!

And while I'm on, where's the CVC money gone, eh? As much as they say lovely old rugby man Richardson loves Wasps, I bet the only person who doesn't lose out on all this is himself...
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And loans from the RFU following Covid
 
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