Wasps finances 2016

[SkyBlueZack]

I've had free tickets (First Season) but my several contacts can't get them for most matches.
It seems to be on a rota system.
It defeats the objective if anybody can get them free all the time.
Once I enjoyed it I paid for a season ticket

This did make me chuckle

 

[covmark]

I've had free tickets (First Season) but my several contacts can't get them for most matches.
It seems to be on a rota system.
It defeats the objective if anybody can get them free all the time.
Once I enjoyed it I paid for a season ticket

A number of posters have said freebies are readily available all the time. Yet you still babble on about rota systems.
Just admit it, you feel a bit of a tit for buying a season ticket when you really didn't need to.

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[italiahorse]

Italia must be looking in the wrong places. A bundle of tickets for every game turns up here and pretty much every game remains sat on a desk untouched.
.

Surprised you have not taken a picture then or is it just bull ?
Easiest way to kill this ongoing argument.

 

[italiahorse]

This did make me chuckle

You need to read the previous posts to realise what contacts I'm talking about.

 

[italiahorse]

A number of posters have said freebies are readily available all the time. Yet you still babble on about rota systems.
Just admit it, you feel a bit of a tit for buying a season ticket when you really didn't need to.

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They are available all the time just not always at the same place.
Have you tried or are you just believing what you want to believe ?

 

[Deleted member 5849]

This did make me chuckle

Nick and David no longer putting out

 

[Nick]

They are available all the time just not always at the same place.
Have you tried or are you just believing what you want to believe ?

Yes, like I said there are available in multiple places.

There is a dancing group that gets a fair few also..

For somebody in the know and in with the big wigs, you seem to be missing a trick.

 

[covmark]

They are available all the time just not always at the same place.
Have you tried or are you just believing what you want to believe ?

I wouldn't watch the franchise if you paid me.

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[italiahorse]

Yes, like I said there are available in multiple places.

There is a dancing group that gets a fair few also..

For somebody in the know and in with the big wigs, you seem to be missing a trick.

Can't be bothered to scratt around looking for free tickets any more.
Why don't you use the CCFC free tickets ?
Seems your also missing a trick.
It's like software, music or films. If There any good I don't mind buying them.
For both Wasps and CCFC I want to just go and watch without any hassle.

 

[Nick]

Can't be bothered to scratt around looking for free tickets any more.
Why don't you use the CCFC free tickets ?
Seems your also missing a trick.
It's like software, music or films. If There any good I don't mind buying them.
For both Wasps and CCFC I want to just go and watch without any hassle.

Not really, because I'm not saying CCFC tickets don't exist either.

Also, they don't seem as available.

 

[Grendel]

Can't be bothered to scratt around looking for free tickets any more.
Why don't you use the CCFC free tickets ?
Seems your also missing a trick.
It's like software, music or films. If There any good I don't mind buying them.
For both Wasps and CCFC I want to just go and watch without any hassle.

I thought you claimed you always purchased your tickets as the free seats were the cheap ones and there weren't many going about anyway?

 

[stupot07]

Ref point 3.
I'm saying Wasps are the solution because they will be the ones giving the long term deal to the club who are unable to provide or finance their own stadium.
If they fail we fail. IMHO

If wasps fail they either have to sell up or the lease reverts back to the freeholder. Either scenario would give the football club and owner a chance of purchasing the leasehold. If thay didn't happen and another stadoum managementcompany buys the lease and we'd just have to rent from them. No different to now as you keep telling us, but less competition for paying customers, sponsors etc.

Wasps failing does not mean it would lead to ccfc failing, if anything it improves our position and opens up a raft of opportunities.


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[italiahorse]

Also, they don't seem as available.

 

[italiahorse]

I thought you claimed you always purchased your tickets as the free seats were the cheap ones and there weren't many going about anyway?

Im a season ticket holder so what are you rabbiting on about?
The free tickets as far as I am aware are mainly in the corner under the screen.
You can move across though as nobody checks like at CCFC.

 

[italiahorse]

If wasps fail they either have to sell up or the lease reverts back to the freeholder. Either scenario would give the football club and owner a chance of purchasing the leasehold. If thay didn't happen and another stadoum managementcompany buys the lease and we'd just have to rent from them. No different to now as you keep telling us, but less competition for paying customers, sponsors etc.

Wasps failing does not mean it would lead to ccfc failing, if anything it improves our position and opens up a raft of opportunities.


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So you think that if Wasps fail we could make a go of it ?
Sometimes I think people just type without thinking.

 

[Deleted member 5849]

Sometimes I think people just type without thinking.

/resists obvious retort

 

[stupot07]

So you think that if Wasps fail we could make a go of it ?
Sometimes I think people just type without thinking.

If wasps fail its because they have shot themselves in the foot by raising £35m bonds when they only needed £14m to pay back the council loan and over stretching themselves - its OK though Richardson is happy to have £10m back in his personal bank account.

If wasps fail it gives us more options than we have now. I don't see how this can be denied.

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[Nick]

Italia, how have you got away with a parody account for so long?

 

[SkyBlue_Bear83]

So you think that if Wasps fail we could make a go of it ?
Sometimes I think people just type without thinking.

No, not under Sisu.

However under those circumstances and new ownership of the club, then why not?

 

[Grendel]

Im a season ticket holder so what are you rabbiting on about?
The free tickets as far as I am aware are mainly in the corner under the screen.
You can move across though as nobody checks like at CCFC.

You said you'd never ever have a free ticket even in season one and yet now you confess your contacts gave you free tickets in season one.

 

[chiefdave]

A little something I saw on twitter today

 

[italiahorse]

No, not under Sisu.

However under those circumstances and new ownership of the club, then why not?

Sisu are not selling. Now what ?

 

[fernandopartridge]

If wasps fail its because they have shot themselves in the foot by raising £35m bonds when they only needed £14m to pay back the council loan and over stretching themselves - its OK though Richardson is happy to have £10m back in his personal bank account.

If wasps fail it gives us more options than we have now. I don't see how this can be denied.

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Ironically it'd be a £21m (35-14) finance deal that does for ACL again. It's early days though.

My ideal scenario would be a new CCFC stadium of an appropriate size nearer the City centre. SISU gone with Wasps bust and the council stuck with a stadium and no occupier. We can but dream.

 

[italiahorse]

You said you'd never ever have a free ticket even in season one and yet now you confess your contacts gave you free tickets in season one.

Your confused
Of course I would have a free ticket in season one. But I preferred to go in the middle rather than the corners.

 

[italiahorse]

Ironically it'd be a £21m (35-14) finance deal that does for ACL again. It's early days though.

My ideal scenario would be a new CCFC stadium of an appropriate size nearer the City centre. SISU gone with Wasps bust and the council stuck with a stadium and no occupier. We can but dream.

The same as the Sisu plan then? They will be happy.
Dream on !!

 

[Nick]

Your confused
Of course I would have a free ticket in season one. But I preferred to go in the middle rather than the corners.

You said you had free tickets?

 

[italiahorse]

You said you had free tickets?

Did I ? When was that ?

 

[Nick]

I've had free tickets (First Season) but my several contacts can't get them for most matches.
It seems to be on a rota system.
It defeats the objective if anybody can get them free all the time.
Once I enjoyed it I paid for a season ticket

Today at 1:21pm.

 

[italiahorse]

Today at 1:21pm.

Thought I said I had them but preferred to go in the middle so never used them.
Anyway I had other reasons for not using them as my friend I take could not use them.

 

[chiefdave]

Anyway I had other reasons for not using them as my friend I take could not use them.

They let imaginary people in for nothing

 

[italiahorse]

They let imaginary people in for nothing

Lack of wheelchair spaces in season 1

 

[dongonzalos]

So if the plan is along the lines of Dave's accountant.
Do not sign any long term deals and wait for Wasps to collapse.
How long do people think we are talking and where will we playing whilst we wait on this plan? The plan of course isn't guaranteed to succeed?

 

[italiahorse]

So if the plan is along the lines of Dave's accountant.
Do not sign any long term deals and wait for Wasps to collapse.
How long do people think we are talking and where will we playing whilst we wait on this plan? The plan of course isn't guaranteed to succeed?

We will be just finishing the new stadium so we will have a choice.

 

[chiefdave]

ebitda currently compared to covenants of the bond, he lost me at this point to be honest but it seemed to be basically that the bonds have guarantees of how the business will perform and there will need to be an improvement to achieve that. apparently failing on any one of those would not be a minor issue.

Gone over this with him again as I didn't really get it first time round. Seems the way it works is that the bond has certain things guaranteed, so that the investors know their money is safe, and if they don't meet those conditions they've defaulted and in that scenario the bond owners have a claim to what was put up as security. The security is the arena lease and ACL.

There's two interesting guarantees. Firstly that valuation of the arena and shares does not drop below 1.4 times the total debt of Wasps - that's all companies in the group combined. I've always had my doubts about the valuation and now knowing the valuation has to remain high does nothing to ease those doubts. The debt is £34.6m so that would mean the valuation and shares can't drop below £48.4m. The shares are valued at £9.7m so that means the valuation of the arena can't drop below £38.7m. And of course it means taking out any more debt, lets say to build houses or a training ground, would be an issue.

Secondly the ebitda from June 2017 onwards must be 1.5 times the groups finance costs. Ebitda before tax, interest payments and similar. The ebitda from this set of accounts is a £2.2m loss. Finance costs were £3.1m in these accounts so using that figure by June 2017 they need to turn a £2.2m loss into a £4.7m profit, that's a turnaround of £6.9m by June - seems a pretty tough task to me.

He asked an interesting question to which I don't know the answer. Do either CCC or SISU own a big chunk of the bonds?

 

[Liquid Gold]

Say what you like about italia but you've completely fallen into his trap of arguing against his stupidity instead of scrutinising the poor results of London Wasps