Calista
Well-Known Member
Phew - I was thinking the unthinkable for a minute
Phew - I was thinking the unthinkable for a minuteJames Timothy Dysterre-Clark uses the name Tim Dysterre-Clark
Surely if it needed £20m spending it’d show as a contingent liability or some such in ACL’s accounts.We all agree the place needs a whole repaint, a good clean in and out and new bogs, but surely thats not 20 Million?
Lots of models make sense if absolutely everything falls into place -but things rarely fall exactly into place.Wasps' nine-figure debt revealed by chief executive
Wasps Holdings Limited went into administration on Mondaywww.coventrytelegraph.net
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He said: “The model makes sense, - you have a fantastic venue with conferences, events, exhibitions and concerts and the excess from the venue pays for the sporting business, that’s fine in the normal world.
“When the organisation decided to take bond out seven years ago it automatically put a £35million debt onto the business.
“Then you add on all of the other debts over the years whether it’s pre-covid or not, if you count Derek’s loans [Richardson, Wasps owner] in there as well it’s over £100 million.”
Here is my quote Sir, £200,000.We all agree the place needs a whole repaint, a good clean in and out and new bogs, but surely thats not 20 Million?
Tickets to the annual painter & decorators christmas do….Here is my quote Sir, £200,000.
Oh, someone else is paying you say! My mistake, I missed a zero off by accident. It should be £2,000,000.
Really! It's the council paying! I must apologise, I'm having one of those days and forgot to add an additional zero. Here is your quote, £20,000,000. If I get the job there might just be a cheeky drink in it for you, if you know what I'm mean
When they messed up their cards they probably meanSisu didn't have a pandemic?
Is it a wind up account?
There’s stuff that doesn’t make sense and only will do in hindsight I reckonWhy does he still have meetings if he has been made redundant?
Why does he still have meetings if he has been made redundant?
Why does he still have meetings if he has been made redundant?
This is what is puzzling me. Surely the Administrators will be having these meetings? Nothing to do with Vaughan now?
Didn't they miss 2 league games? Wasps don't field a side Oct 30th (next league game) then they are gone.Something isnt sitting right.
Why have Worcester been confirmed relegated after administration and Wasps haven't (yet)?
The RFU statement confirmed: "Under RFU Regulations, Worcester Warriors will be relegated from the Gallagher Premiership, and therefore if investors can be secured, the club will restart in the Championship in season 2023/24. The club is able to appeal this decision if it can show there was no fault insolvency.
Could be dummy bids to try and keep the price up for those that ARE interested? There were loads of assurances of virtually done deals for Wasps that didn't pan out.Think we need to take what ever leaks with a pinch of salt.
Lots of games being played last week to try to save wasps and will continue with ACL
Didn't they miss 2 league games? Wasps don't field a side Oct 30th (next league game) then they are gone.
They did but then with Worcester they mentioned it all happened when they missed the second gameBut the RFU regulations state that any club which enters administration will be relegated. Why hasnt that happened yet?
I presume there's some loopholes being explored.
They did but then with Worcester they mentioned it all happened when they missed the second game
in the paranoid world of SBT I think people are reading too much into that. Anyway let’s not pretend we care about rugby. Surely we don’t really care what happens to them now they’re out the Ricoh
They will be relegated. Most of the teams are in debt. Most of them will just go into admin and start again if there is no punishment.the paranoid part of me thinks they arn't out of the Ricoh yet. Nor are the relegated or even fully suspended this season. I'll be a lot happier once the relegation is confirmed.
the paranoid part of me thinks they arn't out of the Ricoh yet. Nor are the relegated or even fully suspended this season. I'll be a lot happier once the relegation is confirmed.
We all agree the place needs a whole repaint, a good clean in and out and new bogs, but surely thats not 20 Million?
I am also expecting twists.
Although, they currently don't have any players or staff for the rugby side.
That won't happen.We’ll probably get shafted but the rugby club are along way from coming back and into the Ricoh, what owner is going to pay up 50 mil, then play the rental figure at the Ricoh, they just won’t be able to afford it.
Having listen to Vaughans interview on the Rugby pod. a few things of note
company line is to repeat the venue is profitable. He said this about 6 times.
Has meetings this week to try and find a buyer for wasps. Have been saying that for ages.
If wasps do get saved. Highly likely they will be playing in the CBS. Sounds like a way to pump the value of the arena up by having a second tenet.
Genuinely don’t think it’s that simple or easy.That won't happen.
A dodgy Maltese hedge fund owner along with a compliant council could easily see £35m of debt disappear and an unencumbered arena appear though.
We’ll probably get shafted but the rugby club are along way from coming back and into the Ricoh, what owner is going to pay up 50 mil, then play the rental figure at the Ricoh, they just won’t be able to afford it.
No they won’t and Vaughan should not be getting involved or influencing any decision making. He was part of the failed process and I’m pretty sure the administrator will be wanting him to fade away.I don't think it'll be down to Vaughan whether they play at the CBS, that'll be up to the new owner of the arena.
It's also going to cost a fair wedge to open the site for just a couple of thousand fans; will phoenix Wasps (if they exist) really be able to afford it?
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