Wasps downward spiral... (23 Viewers)

[Nick]

Hard to see what this will ultimately mean. Having gone through our own administration and coming out the other side with very little changed I’m sceptical about Wasps pending administration.

Slightly different when so much is owed externally surely?

 

---

[Grendel]

Slightly different when so much is owed externally surely?

It’s very different and it seems to be an attempt at sale pre admin

 

[Earlsdon_Skyblue1]

what happened to our old pal dubai dodger?

He was paid by the hour. The funds have dried up. Unlikely to work for free.

I'm half joking, but I wouldn't be surprised if there was some truth as well.

 

[HuckerbyDublinWhelan]

It’s very different and it seems to be an attempt at sale pre admin

What we thinking? Moonstone coming up with their very own Otium?

 

[Deleted member 5849]

It’s very different and it seems to be an attempt at sale pre admin

`The clock is ticking?

 

[no_loyalty]

Has the other Wasps forum gone down?

It has been liquidated.

 

[Grendel]

`The clock is ticking?

Eastwood is knocking on doors

 

[Nick]

It’s very different and it seems to be an attempt at sale pre admin

Would still need to pay their bills though wouldn't they?

 

[skybluetony176]

Slightly different when so much is owed externally surely?

They seem to owe HMRC, don’t recall us owing HMRC. That’s a big difference.

 

[Nick]

They seem to owe HMRC, don’t recall us owing HMRC. That’s a big difference.

And bond holders.

 

[Deleted member 5849]

They seem to owe HMRC, don’t recall us owing HMRC. That’s a big difference.

We did when SISU bought us, SISU paid the debt.

 

[duffer]

They seem to owe HMRC, don’t recall us owing HMRC. That’s a big difference.

We didn't have a £35m debt secured against our primary asset either. They're all out of wriggle room, that's why they've gone for Administration.

 

[clint van damme]

They seem to owe HMRC, don’t recall us owing HMRC. That’s a big difference.

No one worse to be in debt to, maybe the mafia!

 

[Grendel]

We didn't have a £35m debt secured against our primary asset either. They're all out of wriggle room, that's why they've gone for Administration.

They haven’t gone for administration

 

[jordan210]

They haven’t gone for administration

Yet. They have started the process to stop being wound up by HMRC

 

[ccfcchris]

Wasps statement: Club's 138-word response to administration reports

Wasps have issued a 138-word statement following reports that the Premiership club had filed a High Court notice to appoint an administrator.

www.rugbypass.com

 

[Grendel]

Yet. They have started the process to stop being wound up by HMRC

It matters not. They are not in administration and I think have 14 plus 14

 

[jordan210]

It matters not. They are not in administration and I think have 14 plus 14

But after that time, If nothing is sorted they are done for.

I doubt going down this route breeds confidence to any lender.

 

[Grendel]

But after that time, If nothing is sorted they are done for.

I doubt going down this route breeds confidence to any lender.

What about a buyer?

 

[jordan210]

What about a buyer?

I just cant see anyone wanting to buy them. If someone new is interested they dont have much time to do due diligence.

If they have someone lined up. Are they going to want to pay of all the debt or let them go under and buy cheaper

 

[Grendel]

I just cant see anyone wanting to buy them. If someone new is interested they dont have much time to do due diligence.

If they have someone lined up. Are they going to want to pay of all the debt or let them go under and buy cheaper

They won’t have an option to buy if going under will they

 

[lordsummerisle]

Genuinely, Mike Ashley's helicopter just flown over Kenilworth and landed somewhere near Frankton..

 

[tisza]

Wasps statement: Club's 138-word response to administration reports

Wasps have issued a 138-word statement following reports that the Premiership club had filed a High Court notice to appoint an administrator.

www.rugbypass.com

Seem to remember various football clubs going down this route as a preventative measure.

 

[Nick]

What about a buyer?

Using the funds from hyam I heard.

 

[HuckerbyDublinWhelan]

Is there potentially legs to the rumour someone is looking to buy both clubs?

 

[jordan210]

They won’t have an option to buy if going under will they

Guess not. So who's going to want to pay the debt to HMRC + others to buy them

 

[clint van damme]

Genuinely, Mike Ashley's helicopter just flown over Kenilworth and landed somewhere near Frankton..

Might be on his way to delicer that pair of shorts I've been waiting a month for

 

[Colin Steins Smile]

Unless you are an economically illiterate person you would never invest in a Premiership rugby club. Everyone one of the clubs … bar Exeter …. Lose money every year and Wasps business plan is a total basket case.
Ultimately it’s us the tax payers of UK who lose out with these situations

 

[Liquid Gold]

Unless you are an economically illiterate person you would never invest in a Premiership rugby club. Everyone one of the clubs … bar Exeter …. Lose money every year and Wasps business plan is a total basket case.
Ultimately it’s us the tax payers of UK who lose out with these situations

But I'm a UK tax payer and I feel like I'm winning real good right now.

 

[Grendel]

Guess not. So who's going to want to pay the debt to HMRC + others to buy them

Sisu did

 

[Deleted member 5849]

Might be on his way to delicer that pair of shorts I've been waiting a month for

Better lice than nits I guess

 

[jordan210]

Sisu did

How much was it ?

 

[duffer]

Genuinely, Mike Ashley's helicopter just flown over Kenilworth and landed somewhere near Frankton..

Crikey, you've got incredible eyesight. Are you an Elf?

 

[duffer]

Better lice than nits I guess

Better nits than crabs, I'd say.

 

[lordsummerisle]

Crikey, you've got incredible eyesight. Are you an Elf?

Nah, Flight radar, G-OMA, though think his pilot lives locally so could just be taking the company car home as it were!